TBSIX

About TBSIX

T. Rowe Price Short-Term Bond Fund I Class is an institutional share class mutual fund focused on high-quality, short-duration fixed income. Its primary objective is to deliver a high level of income while seeking minimal fluctuation in principal and maintaining liquidity, implemented through a diversified mix of short- and intermediate-term investment-grade corporate, government, and mortgage-backed securities. The portfolio typically keeps its average effective maturity at three years or less and an effective duration around two years, helping limit interest rate sensitivity relative to longer-maturity strategies. The fund tracks its results against the Bloomberg 1–3 Year U.S. Government/Credit Index and normally invests at least 80% of net assets in bonds. It features an expense ratio of approximately 0.34% for the I Class and is positioned within the short-term bond category, emphasizing disciplined risk management and broad sector exposure across Treasuries, agencies, corporates, and securitized credit. With hundreds of issuers and active management, it serves as a core short-duration allocation for institutions seeking income stability and diversification within fixed income markets.