PTTFX

About PTTFX

T. Rowe Price Total Return Fund is an open-end mutual fund that primarily focuses on maximizing total return through a combination of income and, secondarily, capital appreciation. This fund is structured as an intermediate core-plus bond fund, meaning it invests broadly in investment-grade U.S. fixed-income securities—including government bonds, corporate debt, mortgage-backed, and asset-backed securities—with selective allocations to sectors such as high-yield bonds, bank loans, and non-U.S. issuers. The fund’s portfolio is actively managed to adapt to shifting market conditions, and its flexible approach allows for diversification across a wide range of debt instruments. Notable features include a competitive expense ratio that is below the category average and disciplined risk management. Managed by a highly experienced team, the fund typically maintains moderate interest rate sensitivity and credit risk, offering investors access to a diversified bond portfolio that seeks a balance between yield and stability. T. Rowe Price Total Return Fund is designed for investors seeking a total return orientation in their fixed income allocation, with suitability for both regular and tax-deferred accounts such as IRAs.