T. Rowe Price Ultra Short-Term Bond Fund (TRBUX)
The fund invests in a diversified portfolio of shorter-term investment-grade corporate and government securities. Normally, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in bonds and all of the securities purchased by the fund will be rated investment grade at the time of purchase by at least one of the major credit rating agencies or, if unrated, deemed to be investment grade quality by T. Rowe Price.
Fund Info
| ISIN | US77957P3038 |
|---|---|
| CUSIP | 77957P303 |
| Issuer | T. Rowe Price |
| Inception Date | Dec 3, 2012 |
| Category | Ultrashort Bond |
| Min. Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
TRBUX features an expense ratio of 0.31%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Popular comparisons: TRBUX vs. GQETX, TRBUX vs. BIAFX, TRBUX vs. PIAMX, TRBUX vs. VTAPX, TRBUX vs. VTIP, TRBUX vs. SGOV, TRBUX vs. BND, TRBUX vs. VONG, TRBUX vs. PRCOX, TRBUX vs. VWAHX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Ultra Short-Term Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
T. Rowe Price Ultra Short-Term Bond Fund had a return of 5.38% year-to-date (YTD) and 6.88% in the last 12 months. Over the past 10 years, T. Rowe Price Ultra Short-Term Bond Fund had an annualized return of 2.40%, while the S&P 500 had an annualized return of 11.39%, indicating that T. Rowe Price Ultra Short-Term Bond Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 5.38% | 25.45% |
| 1 month | 0.23% | 2.91% |
| 6 months | 3.05% | 14.05% |
| 1 year | 6.88% | 35.64% |
| 5 years (annualized) | 2.85% | 14.13% |
| 10 years (annualized) | 2.40% | 11.39% |
Monthly Returns
The table below presents the monthly returns of TRBUX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.80% | 0.39% | 0.42% | 0.42% | 0.67% | 0.40% | 0.64% | 0.68% | 0.59% | 0.23% | 5.38% | ||
| 2023 | 0.87% | 0.26% | 0.33% | 0.50% | 0.33% | 0.55% | 0.53% | 0.56% | 0.37% | 0.37% | 0.80% | 0.83% | 6.48% |
| 2022 | -0.09% | -0.29% | -0.27% | -0.32% | -0.01% | -0.49% | 0.15% | 0.37% | -0.41% | -0.21% | 0.44% | 0.28% | -0.86% |
| 2021 | 0.08% | 0.08% | 0.15% | 0.15% | 0.06% | 0.06% | -0.13% | 0.11% | 0.11% | -0.14% | 0.06% | -0.47% | 0.12% |
| 2020 | 0.59% | 0.17% | -2.40% | 1.40% | 0.98% | 0.95% | 0.55% | 0.12% | 0.11% | 0.12% | 0.30% | 0.21% | 3.08% |
| 2019 | 0.44% | 0.43% | 0.25% | 0.44% | 0.47% | 0.22% | 0.23% | 0.44% | 0.00% | 0.41% | 0.00% | 0.19% | 3.59% |
| 2018 | 0.15% | 0.11% | 0.18% | 0.18% | 0.20% | 0.20% | 0.21% | 0.24% | 0.20% | 0.23% | 0.04% | 0.04% | 1.99% |
| 2017 | 0.23% | 0.12% | 0.13% | 0.12% | 0.47% | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% | 0.16% | 2.11% |
| 2016 | 0.08% | 0.08% | 0.50% | 0.30% | 0.10% | 0.30% | 0.10% | 0.10% | 0.10% | 0.10% | 0.12% | 0.12% | 2.02% |
| 2015 | 0.26% | 0.06% | 0.06% | 0.06% | 0.06% | 0.08% | -0.12% | 0.06% | 0.06% | 0.06% | -0.12% | -0.12% | 0.40% |
| 2014 | 0.02% | 0.02% | 0.02% | 0.24% | 0.04% | 0.04% | -0.16% | 0.24% | -0.16% | 0.04% | 0.04% | -0.16% | 0.22% |
| 2013 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -0.20% | 0.20% | 0.00% | 0.00% | 0.02% | 0.02% | 0.02% | 0.06% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of TRBUX is 98, placing it in the top 2% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
T. Rowe Price Ultra Short-Term Bond Fund provided a 5.03% dividend yield over the last twelve months, with an annual payout of $0.25 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.25 | $0.20 | $0.10 | $0.06 | $0.09 | $0.14 | $0.13 | $0.09 | $0.06 | $0.04 | $0.02 | $0.00 |
Dividend yield | 5.03% | 4.02% | 1.97% | 1.11% | 1.83% | 2.72% | 2.58% | 1.88% | 1.20% | 0.80% | 0.42% | 0.06% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Ultra Short-Term Bond 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.21 | |
| 2023 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.10 |
| 2021 | $0.00 | $0.00 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.00 | $0.00 | $0.01 | $0.06 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2019 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.14 |
| 2018 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.13 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2016 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.06 |
| 2015 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 |
| 2014 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 |
| 2013 | $0.00 | $0.00 | $0.00 | $0.00 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Ultra Short-Term Bond 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 Ultra Short-Term Bond Fund was 4.15%, occurring on Mar 23, 2020. Recovery took 51 trading sessions.
The current T. Rowe Price Ultra Short-Term Bond Fund drawdown is 0.20%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -4.15% | Mar 10, 2020 | 10 | Mar 23, 2020 | 51 | Jun 4, 2020 | 61 |
| -2.29% | Oct 25, 2021 | 254 | Oct 26, 2022 | 107 | Mar 31, 2023 | 361 |
| -0.36% | Nov 10, 2014 | 23 | Dec 11, 2014 | 52 | Feb 27, 2015 | 75 |
| -0.32% | Nov 2, 2015 | 30 | Dec 14, 2015 | 53 | Mar 2, 2016 | 83 |
| -0.2% | Apr 17, 2023 | 1 | Apr 17, 2023 | 3 | Apr 20, 2023 | 4 |
Volatility
Volatility Chart
The current T. Rowe Price Ultra Short-Term Bond Fund volatility is 0.46%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.