Limited Duration Inflation Focused Bond Fund - I Class

Invests in a diversified portfolio of short- and intermediate-term investment-grade inflation-linked securities, including Treasury Inflation Protected Securities, as well as corporate, government, mortgage-backed and asset-backed securities.

Yield and share price will vary with interest rate changes and the level of real yields may be negative. Deflationary conditions could cause the fund's principal and income to decline in value. The fund's use of derivatives may expose it to additional volatility in comparison to investing directly in bonds and other debt securities.

Morningstar (Category)

Morningstar
(Overall Rating)1

Inflation-Protected Bond
  (202 funds)

Data as of 12/31/2021

Data as of 12/31/2021

Fund Manager Tenure2

Net Assets3
(USD)

1yr
$10.2b

Data as of 12/31/2021

Data as of 12/31/2021

Price
(USD)

Daily Price Change

$5.24
$+0.01

Data as of 01/21/2022

Data as of 01/21/2022

Morningstar Ratings™ are based on risk-adjusted returns. Click on "Overall Rating" for the fund's 3-, 5-, and 10-year (if applicable) Morningstar Ratings™.

Mike Sewell, CFA
Mike Sewell, CFA, Portfolio Manager

Mike Sewell is a portfolio manager in the Fixed Income Division. He is the lead manager for the US Inflation Protected Strategies and provides managerial support for Treasuries. He is the president and chairman of the U.S. Limited Duration TIPS Index, Inflation Protected Bond, and Limited Duration Inflation Focused Bond Funds; a vice president of the Fixed Income Series, Short-Term Bond Fund, and U.S. Treasury Funds, Inc.; and a member of the Investment Advisory Committees of the U.S. Treasury Long-Term Index, Real Assets, Global Allocation, Short-Term Bond, and Ultra Short-Term Bond Funds and the Limited-Term Bond Portfolio. He also is a member of the Global Interest Rate and Currency Strategy team. Mike is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.

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Strategy

Investment Objective

The fund seeks a level of income that is consistent with the current rate of inflation.

Yields & Dividends (I Class)

30-Day SEC Standardized Yield
with waiver
5.77%

Data as of 12/31/2021

without waiver
5.73%

Data as of 12/31/2021

30-Day Annualized Dividend Yield
with waiver
0.00%

Data as of 01/21/2022

Monthly Dividend
(USD)
$0.208299764

Data as of 12/31/2021

Monthly Dividend
Rate
0.00%

Data as of 01/21/2022

US Mutual Fund vendor indices disclaimers

For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

View platform information
1

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2

Number of years managing the fund.  In the case of co-portfolio management, the longer tenure is displayed.

3

Figure applies to all share classes.

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