U.S. Treasury Money Fund - I Class

Invests at least 80% in U.S. Treasury securities, which are backed by the full faith and credit of the federal government. The remainder is invested in other securities backed by the full faith and credit of the U.S. government.

Little risk of principal loss because the fund is managed to maintain a constant $1.00 share price. Price stability is not guaranteed, and there is no assurance that the fund will avoid principal losses if interest rates rise sharply in an unusually short period.

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

TRGXXCUSIP 77957T602
Prospectus

Price
(USD)

Daily Price Change

$1.0000
$0.0000

Data as of 10/18/2019

Data as of 10/18/2019

Joseph K.  Lynagh
Joseph K. Lynagh, Portfolio Manager

Joseph Lynagh is a portfolio manager in the Fixed Income Division at T. Rowe Price and head of the Cash Management team. Mr. Lynagh manages the firm's taxable and municipal money market portfolios, the ultra short bond portfolio, and other cash investments. He 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 maximum preservation of capital and liquidity and, consistent with these goals, the highest possible current income.

Yields & Dividends (I Class)

7-Day Annualized Simple
with waiver
1.66%
without waiver
1.66%

Data as of 10/18/2019

7-Day Annualized Compound
with waiver
1.67%
without waiver
1.67%

Data as of 10/18/2019

Monthly Dividend
(USD)
$0.001426649

Data as of 09/30/2019

Average Annual Total Returns (I Class)*

1 YR
2.08%
Benchmark
2.36%
Value
-0.28% -0.28%

Data as of 09/30/2019

3 YR
1.24%
Benchmark
1.52%
Value
-0.28% -0.28%
5 YR
0.75%
Benchmark
0.96%
Value
-0.21% -0.21%
10 YR
0.38%
Benchmark
0.52%
Value
-0.14% -0.14%

Expense Ratio

Gross
0.40%
Net
0.30%
Limitation Type
Contractual
expires 09/30/2020

Benchmark: FTSE 3-Month Treasury Bill

Investor Class Inception Date: 06/28/1982

I Class Inception Date: 05/03/2017

Current performance may be higher or lower than the quoted past performance, which cannot guarantee future results. Investment return and yield will vary. The average annual total return figures include reinvested dividends.

Year-to-date figures for the money funds are not annualized and represent total return, which includes reinvested distributions. The yield quotation more closely reflects the current earnings of the money market fund than does the total return.

A method of calculating a money fund's yield by annualizing the fund's net investment income for the last seven days of each period divided by the fund's net asset value at the end of the period.

*The T. Rowe Price Funds-I Class share the portfolio of an existing fund (the original share class of the fund is referred to as the "investor class"). The total return figures for I Class shares have been calculated using the performance data of the investor class up to the inception date of the I Class (shown above) and the actual performance results of the I Class since that date.  Because the I Classes are expected to have lower expenses than the Investor Classes, The I Class performance, had it existed over the periods shown, would have been higher. 

The gross expense ratio reflects the fund expenses as stated in the fee table of the fund's prospectus prior to the deduction of any waiver or reimbursement. The net expense ratio reflects fund expenses after the deduction of any waiver or reimbursement.  If a fund has an active contractual expense limitation, the expiration date is shown below the gross and net expense ratio values above.  Expense ratios are as of the most recent prospectus.

In an effort to maintain a zero or positive net yield for the fund, T. Rowe Price has voluntarily waived all or a portion of the management fee it is entitled to receive from the fund. A fee waiver has the effect of increasing the fund's net yield. The 7-day yield without waiver represents what the yield would have been if we were not waiving our management fee. This voluntary waiver is in addition to any contractual expense ratio limitation in effect for the fund and may be amended or terminated at any time without prior notice. Please see the prospectus for more details.

Current Year Performance (I Class)*

Daily YTD
1.60%
Benchmark
1.88%
Value
-0.28%

Data as of 10/18/2019

Monthly YTD
1.56%
Benchmark
1.78%
Value
-0.22%

Data as of 09/30/2019

One Month
0.14%
Benchmark
0.17%
Value
-0.03%
Three Months
0.49%
Benchmark
0.56%
Value
-0.07%

Benchmark: FTSE 3-Month Treasury Bill

Investor Class Inception Date: 06/28/1982

I Class Inception Date: 05/03/2017

*The T. Rowe Price Funds-I Class share the portfolio of an existing fund (the original share class of the fund is referred to as the "investor class"). The total return figures for I Class shares have been calculated using the performance data of the investor class up to the inception date of the I Class (shown above) and the actual performance results of the I Class since that date.  Because the I Classes are expected to have lower expenses than the Investor Classes, The I Class performance, had it existed over the periods shown, would have been higher. 

Holdings

Total
Holdings
50
Top 10 Holdings 41.40%

Data as of 09/30/2019

Team (As of )

Joseph K.  Lynagh

Joseph K. Lynagh
Portfolio Manager

Joseph Lynagh is a portfolio manager in the Fixed Income Division at T. Rowe Price and head of the Cash Management team. Mr. Lynagh manages the firm's taxable and municipal money market portfolios, the ultra short bond portfolio, and other cash investments. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.

  • Fund manager
    since 2009
  • Years at
    T. Rowe Price 29
  • Years investment
    experience 29
Whitney Reid

Whitney Reid
Portfolio Specialist

Whitney Reid is a portfolio specialist in the U.S. Fixed Income Division of T. Rowe Price. He acts as a proxy for fixed income portfolio managers with clients, consultants, and prospects. Mr. Reid supports our Stable Value, US Short-Term Bond, and US Investment Grade Corporate Bond Strategies. He is a vice president of T. Rowe Price Associates, Inc.

  • Years at
    T. Rowe Price 8
  • Years investment
    experience 24

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

How to Invest

View platform information
Share Class Min Initial Investment (USD) Min Subsequent Investment (USD) 12b-1 Fee Expense Ratio
Gross Net Limitation Type Limitation Expiration Date
I Class
Cusip 77957T602
$1,000,000* N/A 0.00% 0.40% 0.30% Contractual 09/30/2020
Investor Class
Cusip 77957T305
$2,500 $100 0.00% 0.43% 0.39% Contractual
09/30/2020
*

Minimum initial investment $1,000,000, certain exceptions may apply. Minimum waived for I Classes offered through Workplace Retirement plans.

3

Figure applies to all share classes.

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