- Issuer
- T. Rowe Price
- Inception Date
- Dec 7, 2020
- Category
- Short-Term Bond
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
TSDLX Performance Chart
T. Rowe Price Short Duration Income Fund (TSDLX) is up 1.2% since the beginning of the year. TSDLX is currently trading at $9 per share. Investors who bought $1,000 worth of TSDLX shares 5 years ago would now be looking at an investment worth $1,249.
Loading charts...
Returns By Period
T. Rowe Price Short Duration Income Fund (TSDLX) has returned 1.17% so far this year and 4.63% over the past 12 months.
T. Rowe Price Short Duration Income Fund
- 1D
- 0.11%
- 1M
- 0.29%
- YTD
- 1.17%
- 6M
- 1.69%
- 1Y
- 4.63%
- 3Y*
- 8.81%
- 5Y*
- 4.55%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.01%
- 1M
- -2.15%
- YTD
- 7.48%
- 6M
- 6.14%
- 1Y
- 20.77%
- 3Y*
- 19.34%
- 5Y*
- 11.44%
- 10Y*
- 13.91%
TSDLX Monthly Returns History
Based on dividend-adjusted daily data since Dec 8, 2020, TSDLX's average daily return is +0.02%, while the average monthly return is +0.35%. At this rate, an investment would double in approximately 16.5 years.
Historically, 76% of months were positive and 24% were negative. The best month was Dec 2023 with a return of +1.9%, while the worst month was Sep 2022 at -1.8%. The longest winning streak lasted 19 consecutive months, and the longest losing streak was 4 months.
On a daily basis, TSDLX closed higher 28% of trading days. The best single day was May 30, 2023 with a return of +0.7%, while the worst single day was Jun 13, 2022 at -0.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.28% | 0.53% | -0.68% | 0.86% | 0.39% | -0.21% | 1.17% | ||||||
| 2025 | 1.11% | 1.20% | 0.56% | 0.61% | 0.23% | 0.82% | 0.12% | 0.96% | 0.39% | 0.43% | 0.36% | 0.62% | 7.65% |
| 2024 | 0.99% | 0.24% | 1.04% | 0.22% | 1.28% | 1.02% | 1.63% | 1.50% | 1.22% | -0.01% | 0.96% | 0.31% | 10.89% |
| 2023 | 1.65% | -0.28% | 1.35% | 0.53% | 0.07% | 0.20% | 0.92% | 0.87% | 0.34% | 0.18% | 1.76% | 1.91% | 9.91% |
| 2022 | -0.78% | -0.69% | -1.29% | -0.78% | 0.07% | -1.58% | 0.53% | -0.52% | -1.82% | -0.31% | 0.93% | 0.41% | -5.69% |
| 2021 | 0.42% | 0.21% | -0.07% | 0.32% | 0.12% | 0.13% | 0.04% | 0.24% | -0.07% | -0.27% | -0.36% | 0.07% | 0.77% |
Benchmark Metrics
T. Rowe Price Short Duration Income Fund has an annualized alpha of 4.19%, beta of 0.01, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since December 08, 2020.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (12.77%) than losses (2.08%) - typical of diversified or defensive assets.
- Beta of 0.01 may look defensive, but with R2 of 0.01 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.01 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.19%
- Beta
- 0.01
- R²
- 0.01
- Upside Capture
- 12.77%
- Downside Capture
- 2.08%
Expense Ratio
TSDLX has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TSDLX ranks 92 for risk / return — in the top 92% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Short Duration Income Fund (TSDLX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TSDLX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.30 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 2.29 | +1.50 |
| Martin ratioReturn relative to average drawdown | 16.15 | 10.09 | +6.06 |
Dividends
Dividend History
T. Rowe Price Short Duration Income Fund provided a 5.07% dividend yield over the last twelve months, with an annual payout of $0.48 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.48 | $0.58 | $0.91 | $0.72 | $0.17 | $0.17 |
Dividend yield | 5.07% | 6.06% | 9.64% | 7.72% | 1.82% | 1.69% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Short Duration Income 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.04 | $0.03 | $0.04 | $0.07 | $0.04 | $0.00 | $0.21 | ||||||
| 2025 | $0.08 | $0.07 | $0.07 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.58 |
| 2024 | $0.07 | $0.07 | $0.08 | $0.08 | $0.09 | $0.07 | $0.08 | $0.09 | $0.07 | $0.08 | $0.08 | $0.04 | $0.91 |
| 2023 | $0.05 | $0.05 | $0.06 | $0.03 | $0.07 | $0.07 | $0.06 | $0.07 | $0.07 | $0.04 | $0.07 | $0.08 | $0.72 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.00 | $0.00 | $0.02 | $0.00 | $0.02 | $0.03 | $0.03 | $0.17 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.03 | $0.17 |
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.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Short Duration Income 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 Short Duration Income Fund was 7.86%, occurring on Oct 20, 2022. Recovery took 277 trading sessions.
The current T. Rowe Price Short Duration Income Fund drawdown is 0.21%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -7.86%Oct 2022 | 1y 1mo | 1y 1mo | 2y 2moSep 2021 - Nov 2023 |
2026 pullback2026 | -1.26%Mar 2026 | 24d | 1mo 5d | 1mo 29dMar 2026 - Apr 2026 |
2025 selloff2025 | -0.85%Apr 2025 | 7d | 18d | 25dApr 2025 - Apr 2025 |
2024 pullback2024 | -0.84%Oct 2024 | 22d | 14d | 1mo 6dOct 2024 - Nov 2024 |
2024 pullback2024 | -0.75%Feb 2024 | 11d | 16d | 27dFeb 2024 - Feb 2024 |
Drawdown Indicators
| TSDLX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.86% | -56.78% | +48.92% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -9.10% | +7.84% |
Max Drawdown (3Y)Largest decline over 3 years | -1.26% | -18.90% | +17.64% |
Max Drawdown (5Y)Largest decline over 5 years | -7.86% | -25.43% | +17.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.21% | -3.32% | +3.11% |
Average DrawdownAverage peak-to-trough decline | -1.49% | -10.71% | +9.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 2.06% | -1.77% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with TSDLX
Add T. Rowe Price Short Duration Income Fund to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with TSDLX