Prospectuses, Shareholder Reports & Fact Sheets

All T. Rowe Price mutual funds are offered by prospectus only. Mutual fund prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.

View the Statement of Additional Information (SAI) for any of the below funds.

T. Rowe Price mutual funds issue a report every six months according to their fiscal–year schedule. In each mutual fund report, the fund manager discusses the general market environment, explains some of the investment decisions made during the reporting period, and presents an outlook for the economy and the financial markets. These reports are intended for shareholders and others who have reviewed the mutual fund's prospectus.

You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803.

Fund Fact Sheets are produced quarterly and provide a summary of fund information including performance, top holdings and key fund data and portfolio characteristics.

U.S. Funds

The annual and semiannual mutual fund reports for the U.S. Stock Funds cover the one-year and six-month periods ended December 31st and June 30th, respectively, and are available within 60 days of the indicated period-ends. The only exceptions to this are the annual and semiannual reports for the Tax-Efficient Equity Fund (which cover the one-year and six-month periods ended February 28th and August 31st, respectively).

The annual and semiannual mutual fund reports for the Taxable U.S. Bond Funds cover the one-year and six-month periods ended May 31st and November 30th, respectively, and are available within 60 days of the indicated period-ends. The only exceptions to this are the annual and semiannual mutual fund reports for the Spectrum Income Fund (which cover the one-year and six-month periods ended December 31st and June 30th, respectively) and the U.S. Bond Index Fund (which cover the one-year and six-month periods ended April 30th and October 31st, respectively).

The annual and semiannual shareholder reports for the Tax-Free U.S. Bond Funds cover the one-year and six-month periods ended February 28th and August 31st, respectively, and are available within 60 days of the indicated period-ends.

The annual and semiannual shareholder reports for the Summit Funds cover the one-year and six-month periods ended October 31st and April 30th, respectively, and are available within 60 days of the indicated period-ends.

U.S. Stock Funds
Fund Name Summary Prospectus Prospectus Annual Report Semi-Annual Report SAI Quarterly Fund Fact Sheet
Blue Chip Growth View
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Blue Chip - I Class View
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Capital Appreciation View
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Capital Appreciation - I Class View
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Capital Opportunity View
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Capital Opportunity Fund - I Class View
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Communications & Technologye View
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Communications & Technology - I Cle View
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Diversified Mid-Cap Growth View
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Diversified Mid-Cap Growth - I Class View
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Dividend Growth View
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Dividend Growth - I Class View
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Equity Income View
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Equity Income - I Class View
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Equity Index 500 View
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Equity Index 500 - I Class View
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Extended Equity Market Index View
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Financial Services View
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Financial Services - I Class View
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Growth & Income View
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Growth & Income - I Class View
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Growth Stock View
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Growth Stock - I Class View
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Health Sciences View
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Health Sciences - I Cl View
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Mid-Cap Growth View
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Mid-Cap Growth - I Class View
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Mid-Cap Value View
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Mid-Cap Value - I Class View
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New America Growth View
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New America Growth - I Class View
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New Era View
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New Era - I Class View
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New Horizons View
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New Horizons - I Class View
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QM U.S. Small-Cap Growth Equity View
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QM U.S. Small-Cap Growth Equity - I Cl View
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QM U.S. Small & Mid-Cap Core Equity View
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QM U.S. Small & Mid-Cap Core Equity - I Cl View
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QM U.S. Value Equity View
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QM U.S. Value Equity - I Cl View
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Real Estate View
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Real Estate - I Class View
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Science & Technology View
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Science & Technology - I Cl View
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Small-Cap Stock View
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Small-Cap Stock - I Class View
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Small-Cap Value View
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Small-Cap Value - I Class View
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Tax-Efficient Equity View
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Tax-Efficient Equity - I Class View
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Total Equity Market Index View
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U.S. Large-Cap Core View
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U.S. Large-Cap Core - I Class View
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Value View
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Value - I Class View
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Taxable U.S. Bond Funds
Fund Name Summary Prospectus Prospectus Annual Report Semi-Annual Report SAI Quarterly Fund Fact Sheet
Corporate Income View
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Corporate Income - I Class View
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Credit Opportunities View
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Credit Opportunities - I Class View
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Floating Rate View
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Floating Rate - I Class View
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GNMA View
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GNMA - I Class View
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High Yield View
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High Yield - I Class View
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Inflation Protected Bond View
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Inflation Protected Bond - I Class View
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Limited Duration Inflation Focused Bond View
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Limited Duration Inflation Focused Bond - I Class View
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New Income View
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New Income - I Class View
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Short-Term Bond View
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Short-Term Bond - I Class View
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Total Return Fund View
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Total Return Fund – I Class View
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Ultra Short Term Bond View
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Ultra Short Term Bond – I Class View
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U.S. Bond Enhanced Index View
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U.S. High Yield Fund View
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U.S. High Yield Fund - I Class View
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U.S. Treasury Intermediate View
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U.S. Treasury Intermediate - I Class View
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U.S. Treasury Long-Term View
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Tax-Free U.S. Bond Funds
Fund Name Summary Prospectus Prospectus Annual Report Semi-Annual Report SAI Quarterly Fund Fact Sheet
California Tax-Free Bond View
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California Tax-Free Bond - I Class View
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Georgia Tax-Free Bond View
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Georgia Tax-Free Bond - I Class View
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Intermediate
Tax-Free High Yield Fund
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Intermediate
Tax-Free High Yield Fund - I Class
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Maryland Short-Term Tax-Free Bond View
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Maryland Tax-Free Bond View
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New Jersey
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New York Tax-Free Bond View
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Summit Municipal Income View
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Summit Municipal Intermediate View
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Tax-Free High Yield View
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Tax-Free Income View
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Tax-Free Short-Intermediate View
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Virginia Tax-Free Bond View
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International and Global Funds

The annual and semiannual mutual fund reports for the International Stock Funds cover the one-year and six-month periods ended October 31st and April 30th, respectively, and are available within 60 days of the indicated period-ends. The only exceptions to this are the annual and semiannual mutual fund reports for the Global Real Estate, Global Technology, and Spectrum International Funds (which cover the one-year and six-month periods ended December 31st and June 30th, respectively).

The annual and semiannual mutual fund reports for the International Bond Funds cover the one-year and six-month periods ended December 31st and June 30th, respectively, and are available within 60 days of the indicated period ends.

International and Global Stock Funds
Fund Name Summary Prospectus Prospectus Annual Report Semi-Annual Report SAI Quarterly Fund Fact Sheet
Africa & Middle East View
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Africa & Middle East - I Class View
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Asia Opportunities View
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Asia Opportunities - I Class View
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Emerging Europe View
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Emerging Europe - I Class View
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Emerging Markets Stock View
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Emerging Markets Stock - I Class View
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Emerging Markets Value Stock View
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European Stock View
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European Stock - I Class View
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Global Consumer View
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Global Growth Stock View
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Global Growth Stock - I Class View
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Global Industrials View
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Global Industrials - I Class View
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Global Real Estate View
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Global Real Estate - I Class View
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Global Stock View
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Global Stock - I Class View
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Global Technology View
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Global Technology - I Class View
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International Concentrated Equity View
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International Discovery View
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International Discovery - I Class View
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International Equity Index View
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International Stock View
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International Value Equitya View
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International Value Equity - I Classa View
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Japan View
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Japan - I Class View
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Latin America View
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Latin America - I Class View
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New Asia View
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New Asia - I Class View
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Overseas Stock View
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QM Global Equity View
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QM Global Equity - I Class View
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International and Global Bond Funds
Money Market Funds

The annual and semiannual mutual fund reports for the Taxable Money Market Funds cover the one-year and six-month periods ended May 31st and November 30th, respectively, and are available within 60 days of the indicated period-ends.

The annual and semiannual shareholder reports for the Tax-Free Money Market Funds cover the one-year and six-month periods ended February 28th and August 31st, respectively, and are available within 60 days of the indicated period-ends. The annual and semiannual shareholder reports for the Summit Funds cover the one-year and six-month periods ended October 31st and April 30th, respectively, and are available within 60 days of the indicated period-ends.

Taxable Money Market Funds
Tax-Free Money Market Funds
Asset Allocation Funds

The annual and semiannual shareholder reports for the Asset Allocation Funds cover the one-year and six-month periods ended May 31st and November 30th, respectively, and are available within 60 days of the indicated period-ends. The only exceptions to this are the annual and semiannual mutual fund reports for the Balanced, Spectrum Growth, Spectrum Income, and Spectrum International Funds (which cover the one-year and six-month periods ended December 31st and June 30th, respectively).

Fund Name Summary Prospectus Prospectus Annual Report Semi-Annual Report SAI Quarterly Fund Fact Sheet
Balanced View
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Balanced - I Class View
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Global Allocation View
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Global Allocation
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Multi-Strategy Total Return Fund View
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Personal Strategy Balanced View
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Personal Strategy Balanced - I Cl View
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Personal Strategy Growth View
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Personal Strategy Growth - I Cl View
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Personal Strategy Income View
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Personal Strategy Income - I Cl View
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Real Assets View
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Real Assets
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Retirement 2025 View
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Retirement 2030 View
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Retirement 2035 View
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Retirement 2040 View
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Retirement 2045 View
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Retirement 2050 View
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Retirement 2055 View
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Retirement 2060 View
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Retirement
Balanced
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Retirement
Balanced I - I Class
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Retirement I 2005 - I Class View
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Retirement I 2010 - I Class View
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Retirement I 2020 - I Class View
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Retirement I 2025 - I Class View
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Retirement I 2030 - I Class View
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Retirement I 2035 - I Class View
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Retirement I 2040 - I Class View
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Retirement I 2045 - I Class View
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Retirement I 2050 - I Class View
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Retirement I 2055 - I Class View
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Retirement I 2060 - I Class View
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Retirement Income 2020 View
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Spectrum Growth View
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Spectrum Income View
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Spectrum International View
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Target 2005 View
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Target 2005 - I Cl View
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Target 2010 View
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Target 2010 - I Cl View
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Target 2015 View
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Target 2015 - I Cl View
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Target 2020 View
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Target 2020 - I Cl View
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Target 2025 View
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Target 2025 - I Cl View
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Target 2030 View
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Target 2030 - I Cl View
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Target 2035 View
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Target 2035 - I Cl View
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Target 2040 View
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Target 2040 - I Cl View
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Target 2045 View
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Target 2045 - I Cl View
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Target 2050 View
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Target 2050 - I Cl View
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Target 2055 View
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Target 2055 - I Cl View
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Target 2060 View
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Target 2060 - I Cl View
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a Formerly International Growth & Income
b Formerly Global Unconstrained Bond
c Formerly Summit Cash Reserves
d Formerly Prime Reserve
e Formerly Media & Telecommunications

Each of the investment products (including the T. Rowe Price mutual funds) or services referred to in the T. Rowe Price Web site may be offered only to persons in the United States. This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States.

1Retail Funds: 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. Beginning October 14, 2016, the Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. 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.

2Government Funds: 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.

All investments involve risk, including possible loss of principal.

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