Limited-Term Bond Portfolio

Invest in a diversified portfolio of short- and intermediate-term investment-grade corporate, government, and mortgage-backed securities.

Unlike money market funds, which are managed to maintain a stable share price, the portfolio’s price can decline.

Morningstar (Category)

Morningstar
(Overall Rating)1

Short-Term Bond
  (557 funds)

Data as of 12/31/2021

Data as of 12/31/2021

Fund Manager Tenure2

Net Assets3
(USD)

7yrs
$190.0m

Data as of 12/31/2021

Data as of 12/31/2021

Price
(USD)

Daily Price Change

$4.88
$0.00

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™.

Michael  F.  Reinartz, CFA
Michael F. Reinartz, CFA, Portfolio Manager

Mike Reinartz is the portfolio manager for the US Short-Term Bond strategies in the Fixed Income Division. He is an executive vice president of the Fixed Income Series, Inc., an executive vice president and the chairman of the Investment Advisory Committee of the Short-Term Bond Fund, and a vice president of the Inflation Protected Bond and Limited Duration Inflation Focused Bond Funds. He also is the chairman of the Investment Advisory Committee for the Limited-Term Bond Portfolio and a member of the Investment Advisory Committees for the Ultra Short-Term Bond and Short Duration Income Funds. Mike is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Trust Company.

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Strategy

Investment Objective

The fund seeks a high level of income consistent with moderate fluctuations in principal value.

Yields & Dividends (N/A)

30-Day SEC Standardized Yield
with waiver
0.93%

Data as of 12/31/2021

without waiver
0.74%

Data as of 12/31/2021

30-Day Annualized Dividend Yield
with waiver
1.13%

Data as of 01/21/2022

Monthly Dividend
(USD)
$0.004951148

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.

How to Invest

Shares of the Variable Insurance Portfolios are designed to be offered to insurance company separate accounts established for the purpose of funding variable annuity and variable life insurance contracts. The annuity and life contract holders or participants are not the shareholders of the funds. Rather, the separate account of the insurance company is the shareholder. The variable annuity and variable life contracts are described in separate prospectuses issued by the insurance companies. The funds assume no responsibility for such prospectuses, or variable annuity or variable life contracts.

Shares of the funds are sold and redeemed without the imposition of any sales commissions or redemption charges. However, certain other charges may apply to annuity or life contracts. Those charges are disclosed in the insurance contract prospectus. Your ability to exchange from these funds into any other T. Rowe Price fund that serves as an investment option under your insurance contract is governed by the terms of that contract and the insurance contract prospectus, as well as the funds’ excessive and short-term trading policy described in this section.

1

© 2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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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