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 05/31/2017
Domestic Bond 79.5%
Foreign Bonds 21.1%
Domestic Stock 0.0%
Foreign Stock 0.0%
Preferreds 0.0%
Convertibles 0.0%
Options 0.0%
Cash -0.6%
Volatility and Other Measures
as of 05/31/2017
Beta 1.99
0.26
Standard Deviation 0.47
Credit Quality Diversification1
as of 05/31/2017
% of Total Net Assets
AAA 21.3%
AA 12.4%
A 20.5%
BBB 33.4%
BB 2.8%
Not Rated 0.0%
Reserves -0.6%
US Government Agency Securities 0.5%
US Treasury 9.7%
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 05/31/2017
0.47 years
Weighted Avg. Maturity
as of 06/20/2017
1.98 years
Sector Diversification
as of 05/31/2017
% of Total Net Assets
CORPORATE BONDS & NOTES 60.0%
ASSET-BACKED SECURITIES 20.6%
U.S. TREASURY BONDS AND NOTES 9.7%
COMMERCIAL MORTGAGE-BACKED SECURITIES (CMBS) 6.6%
MORTGAGE-BACKED SECURITIES 3.0%
GOVERNMENT RELATED 0.7%
CASH & EQUIVALENTS -0.6%
10 Largest Holdings
Represents 12.52 % of Total Net Assets
View Holdings as of:
Coupon % Maturity
AMCAR 2014-1 E 3.580 09/13/2019
BANCO SANTANDER SA 2.718 04/11/2022
BANK OF AMERICA CORP 6.000 09/01/2017
DDR CORP 4.750 04/15/2018
INTESA SANPAOLO SPA 3.875 01/16/2018
MARATHON OIL CORP 6.000 10/01/2017
SEAGATE HDD CAYMAN 3.750 11/15/2018
TPMT 2016-3 A1 144A 2.250 09/05/2019
US TREASURY N/B 1.875 09/30/2017
US TREASURY N/B 1.875 10/31/2017
As of 05/31/2017 the Ultra Short-Term Bond Fund had a total of 341 holdings.
Bond Maturity Diversification2
  as of 05/31/2017
% of Total Net Assets
0 - 1 YRS 35.7%
1 - 5 YRS 63.8%
5 - 10 YRS 0.5%
2Total may not equal 100% due to rounding.
See Glossary for additional details on all data elements.