About PAOPX
T. Rowe Price Credit Opportunities Fund - Advisor Class is a mutual fund designed to pursue a combination of long-term capital appreciation and high income. It primarily invests at least 80% of its net assets in credit instruments rated below investment grade, such as high-yield corporate bonds, bank loans, and distressed securities, with up to 50% allocated to floating-rate bank loans. The fund employs a high-conviction, concentrated strategy emphasizing rigorous fundamental credit research, selective special credit situations, and downside protection for risk-adjusted returns. Key features include an effective duration of approximately 2.74 years, weighted average maturity of 6.36 years, and diversification across 183 issuers, predominantly in North America with minor exposures to Europe, Japan, and emerging markets. It carries higher risks associated with junk bonds, interest rate fluctuations, credit defaults, and foreign investments. Targeted at aggressive, risk-tolerant investors seeking elevated income and modest growth potential, this Advisor Class suits institutional platforms and financial intermediaries, playing a niche role in high-yield bond portfolios within the broader fixed-income market.
Fund Family T. Rowe Price
Category High Yield Bond
Performance Rating Above Average
Risk Rating Average
Stock Exchange Nasdaq
Ticker Symbol PAOPX
Share Class T. Rowe Price Credit Opportunities Fund-advisor Class
Index Bloomberg US High Yield 2% Issuer Cap TR
PAOPX had a total return of 1.06% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.72%.
