T. Rowe Price Ultra Short-Term Bond Fund (TRBUX)
Ticker Symbol:
TRBUX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Composition
Asset Allocation
as of 07/31/2016
Domestic Bond 79.1%
Foreign Bonds 22.1%
Other 0.7%
Domestic Stock 0.0%
Foreign Stock 0.0%
Preferreds 0.0%
Convertibles 0.0%
Options 0.0%
Cash -1.9%
Volatility and Other Measures
as of 07/31/2016
Beta 2.96
0.43
Standard Deviation 0.46
Credit Quality Diversification1
as of 07/31/2016
% of Total Net Assets
AAA 26.2%
AA 5.4%
A 25.4%
BBB 28.4%
BB 4.1%
B 0.5%
CCC 0.4%
Not Rated 0.0%
Reserves -1.9%
US Government Agency Securities 1.2%
US Treasury 10.3%
1Sources: 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.

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.
Weighted Avg. Duration
as of 07/31/2016
0.78 years
Weighted Avg. Maturity
as of 08/23/2016
1.35 years
Sector Diversification
as of 07/31/2016
% of Total Net Assets
CORPORATE BONDS & NOTES 61.3%
COMMERCIAL MORTGAGE-BACKED SECURITIES (CMBS) 11.9%
ASSET-BACKED SECURITIES 11.7%
U.S. TREASURY BONDS AND NOTES 10.3%
MORTGAGE-BACKED SECURITIES 3.2%
GOVERNMENT RELATED 3.1%
CASH & EQUIVALENTS -1.5%
10 Largest Holdings
Represents 17.48 % of Total Net Assets
View Holdings as of:
Coupon % Maturity
AVNET INC 6.625 09/15/2016
BANK OF AMERICA CORP 6.000 09/01/2017
BURLINGTON NORTH SANTA FE 5.650 05/01/2017
CNOOC FINANCE 2014 ULC 1.625 04/30/2017
NABORS INDUSTRIES INC 2.350 09/15/2016
SCHLUMBERGER HLDGS CORP 144A 1.900 12/21/2017
TPMT 2016-3 A1 144A 2.250 03/04/2019
US TREASURY N/B .875 11/15/2017
US TREASURY N/B 1.000 12/15/2017
US TREASURY N/B .750 06/30/2017
As of 07/31/2016 the Ultra Short-Term Bond Fund had a total of 239 holdings.
Bond Maturity Diversification2
  as of 07/31/2016
% of Total Net Assets
0 - 1 YRS 44.5%
1 - 5 YRS 55.1%
5 - 10 YRS 0.4%
2Total may not equal 100% due to rounding.
See Glossary for additional details on all data elements.