Investment Objective
The fund seeks total return, and secondarily, current income.
Average Annual Total Returns
For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.
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The fund seeks total return, and secondarily, current income.
For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.
The fund seeks total return, and secondarily, current income.
All investments are subject to market risk, including the possible loss of principal. Junk investing: Issuers of junk bonds are usually not as strong financially and are more likely to suffer an adverse change in financial condition that would result in the inability to meet a financial obligation. Interest rates: A rise in interest rates typically causes the price of a fixed rate debt instrument to fall and its yield to rise. Conversely, a decline in interest rates typically causes the price of a fixed rate debt instrument to rise and the yield to fall. Bank loans: The fund’s ability to receive payments in connection with a loan depends primarily on the financial condition of the borrower and whether or not a loan is secured by collateral, although there is no assurance that the collateral securing a loan will be sufficient to satisfy the loan obligation. Foreign investing: Investments in the securities of non-U.S. issuers may be adversely affected by local or regional, political, social, and economic conditions; greater volatility; reduced liquidity; or decreases in foreign currency values relative to the U.S. dollar. See the prospectus for more detail on the fund's principal risks.
Numbers may not total due to rounding; all numbers are percentages.
Sources: Moody s Investors Service; if Moody s does not rate a security, then Standard & Poor's (S&P) is used as a secondary source. When available, T. Rowe Price will use Fitch for securities that are not rated by Moody s or S&P. T. Rowe Price does not evaluate these ratings, but simply assigns them to the appropriate credit quality category as determined by the rating agency.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
U.S. government agency securities are issued or guaranteed by a U.S. government agency and may include conventional pass-through securities and collateralized mortgage obligations. Unlike Treasuries, government agency securities are not issued directly by the U.S. government and are generally unrated but may have credit support from the U.S. Treasury (e.g., FHLMC and FNMA issues) or a direct government guarantee (e.g., GNMA issues). Therefore, this category may include rated and unrated securities.
U.S. Treasury securities are issued by the U.S. Treasury and are backed by the full faith and credit of the U.S. government. The ratings of U.S. Treasury securities are derived from the ratings on the U.S. government.
Numbers may not total due to rounding; all numbers are percentages.
Duration is a measure of a bond fund s sensitivity to interest rate changes. Numbers may not total 100% due to rounding.
For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.
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ETFs are bought and sold at market prices, not NAV. Investors generally incur the cost of the spread between the prices at which shares are bought and sold. Buying and selling shares may result in brokerage commissions which will reduce returns.
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