T. Rowe Price Institutional Long Duration Credit Fund (RPLCX)
The fund normally invests in a diversified portfolio of longer duration debt securities issued by corporations as well as certain non-corporate issuers. The fund manager focuses on corporate bonds, the non-corporate debt securities in which the fund may invest include securities issued by supranational organizations and U.S. and foreign governments and government agencies. Holdings will mainly consist of investment-grade debt securities, although the fund has the flexibility to purchase some non-investment-grade bonds (also called high yield or "junk" bonds).
Fund Info
US77958B6002
Jun 2, 2013
$1,000,000
Expense Ratio
RPLCX has an expense ratio of 0.45%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
T. Rowe Price Institutional Long Duration Credit Fund (RPLCX) returned -1.53% year-to-date (YTD) and 1.48% over the past 12 months. Over the past 10 years, RPLCX returned 1.29% annually, underperforming the S&P 500 benchmark at 10.69%.
RPLCX
-1.53%
1.54%
-4.43%
1.48%
-1.85%
1.29%
^GSPC (Benchmark)
-0.64%
8.97%
-2.62%
11.90%
15.76%
10.69%
Monthly Returns
The table below presents the monthly returns of RPLCX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.48% | 3.66% | -1.95% | -1.99% | -1.63% | -1.53% | |||||||
| 2024 | -0.96% | -2.26% | 1.64% | -4.73% | 2.97% | 0.68% | 3.26% | 2.16% | 2.44% | -4.16% | 2.20% | -4.16% | -1.41% |
| 2023 | 7.07% | -4.78% | 3.82% | 0.75% | -2.58% | 1.10% | -0.48% | -2.01% | -5.37% | -4.33% | 10.23% | 7.60% | 9.97% |
| 2022 | -4.84% | -3.15% | -3.23% | -9.43% | 0.13% | -4.29% | 4.42% | -3.98% | -8.56% | -2.44% | 8.46% | -1.62% | -26.13% |
| 2021 | -2.26% | -3.40% | -2.84% | 2.25% | 0.86% | 3.86% | 2.39% | -0.16% | -1.94% | 1.49% | 0.64% | -3.20% | -2.62% |
| 2020 | 4.79% | 2.46% | -9.01% | 7.09% | 1.07% | 2.95% | 5.83% | -2.99% | -0.14% | -1.17% | 5.07% | 4.35% | 20.98% |
| 2019 | 3.15% | 0.13% | 4.48% | 0.34% | 3.17% | 3.21% | 1.34% | 6.92% | -1.75% | 0.59% | 0.60% | -8.95% | 13.09% |
| 2018 | -1.65% | -3.20% | 0.72% | -1.94% | 0.32% | -0.57% | 0.93% | 0.47% | -0.90% | -2.88% | -0.44% | 2.58% | -6.49% |
| 2017 | 0.29% | 1.98% | -0.64% | 1.47% | 1.85% | 1.08% | 0.76% | 1.43% | -0.53% | 0.76% | 0.30% | 1.24% | 10.41% |
| 2016 | 0.92% | 1.25% | 4.06% | 2.07% | -0.08% | 3.96% | 2.89% | 0.01% | -1.05% | -2.20% | -4.86% | 1.02% | 7.89% |
| 2015 | 5.26% | -1.86% | 0.21% | -1.72% | -1.85% | -3.35% | 1.67% | -1.67% | 0.84% | 1.44% | -0.49% | -1.44% | -3.20% |
| 2014 | 3.86% | 2.09% | 0.55% | 2.27% | 2.62% | 0.44% | 0.05% | 3.24% | -2.89% | 1.82% | 1.18% | 0.44% | 16.65% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of RPLCX is 23, meaning it’s performing worse than 77% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price Institutional Long Duration Credit Fund (RPLCX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
T. Rowe Price Institutional Long Duration Credit Fund provided a 5.29% dividend yield over the last twelve months, with an annual payout of $0.38 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.38 | $0.42 | $0.39 | $0.36 | $0.39 | $0.42 | $0.44 | $0.40 | $0.38 | $0.39 | $0.40 | $0.41 |
Dividend yield | 5.29% | 5.60% | 4.91% | 4.77% | 3.59% | 3.69% | 4.12% | 4.12% | 3.52% | 3.79% | 4.12% | 3.91% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Institutional Long Duration Credit Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.04 | $0.03 | $0.03 | $0.00 | $0.00 | $0.10 | |||||||
| 2024 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.42 |
| 2023 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.39 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
| 2020 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.42 |
| 2019 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.44 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.40 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.40 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.41 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Institutional Long Duration Credit Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price Institutional Long Duration Credit Fund was 36.46%, occurring on Oct 24, 2022. The portfolio has not yet recovered.
The current T. Rowe Price Institutional Long Duration Credit Fund drawdown is 25.05%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -36.46% | Dec 17, 2020 | 466 | Oct 24, 2022 | — | — | — |
| -21.56% | Mar 10, 2020 | 8 | Mar 19, 2020 | 77 | Jul 9, 2020 | 85 |
| -10.03% | Dec 18, 2017 | 239 | Nov 28, 2018 | 81 | Mar 28, 2019 | 320 |
| -9.64% | Feb 2, 2015 | 102 | Jun 26, 2015 | 215 | May 4, 2016 | 317 |
| -9.62% | Sep 5, 2019 | 74 | Dec 18, 2019 | 53 | Mar 6, 2020 | 127 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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