QM U.S. Bond Index Fund

Formerly U.S. Bond Enhanced Index

Seeks to match or incrementally exceed the performance of the U.S. investment-grade bond market, as represented by the Bloomberg Barclays U.S. Aggregate Bond Index. The portfolio manager selects a set of U.S. dollar-denominated bonds that represent key benchmark traits while attempting to generate a modest amount of outperformance over the index.

Yield and share price will vary with interest rate changes. If interest rates rise significantly from current levels, bond fund total returns will decline and may even turn negative in the short term. There is also a chance that one of the fund’s holdings will have its credit rating downgraded or will default.

Morningstar (Category)

Morningstar
(Overall Rating)1

Intermediate Core Bond
  (386 funds)

Data as of 12/31/2021

Data as of 12/31/2021

Fund Manager Tenure2

Net Assets3
(USD)

14yrs
$1.6b

Data as of 12/31/2021

Data as of 12/31/2021

Price
(USD)

Daily Price Change

$11.16
$+0.03

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™.

Robert M.  Larkins, CFA
Robert M. Larkins, CFA, Portfolio Manager

Rob Larkins is the head of quantitative portfolio management in the Fixed Income Division. Rob is the lead portfolio manager of the firm’s suite of bond index strategies, overseeing the US Aggregate Bond Index Strategy, the US Enhanced Aggregate Bond Strategy, and numerous custom bond index mandates, including liability-driven investment portfolios tailored to meet specific client needs. He also is the lead portfolio manager of the Long Duration Credit Strategy and a member of the Core/Core Plus Portfolio Strategy team. Rob is the president and chairman of the Investment Advisory Committee for the QM U.S. Bond Index Fund, an executive vice president for the Institutional Income Funds, and a vice president and an Investment Advisory Committee member for the Balanced, Global Allocation, New Income, and Total Return Funds. Rob 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 to provide a total return that matches or incrementally exceeds the performance of the U.S. investment-grade bond market.

Yields & Dividends (Investor Class)

30-Day SEC Standardized Yield
with waiver
1.50%

Data as of 12/31/2021

without waiver
1.50%

Data as of 12/31/2021

30-Day Annualized Dividend Yield
with waiver
1.92%

Data as of 01/21/2022

Monthly Dividend
(USD)
$0.018921581

Data as of 12/31/2021

Monthly Dividend
Rate
0.01%

Data as of 01/21/2022

US Mutual Fund vendor indices disclaimers

Sectors

Total
Sectors
10

Data as of 12/31/2021

Benchmark: Bloomberg U.S. Aggregate Bond Index

Largest Sector Corporate 33.84% Was (11/30/2021) 33.60%
Other View complete

Over

Corporate
By 7.63%
Fund 33.84%
Benchmark 26.20%

Under

U.S. Treasury
By -16.99%
Fund 22.49%
Benchmark 39.48%

Data as of 12/31/2021

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

© 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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