About PRCIX
T. Rowe Price New Income Fund, Inc. is an open-end mutual fund focused on generating total return through a combination of income and capital appreciation. As an intermediate core bond fund, it invests at least 80% of its assets in a diversified portfolio of income-producing debt securities, primarily targeting U.S. government and agency bonds, high-quality corporate bonds, mortgage- and asset-backed securities, and, to a lesser extent, foreign bonds and Treasury inflation-protected securities. The fund maintains flexibility in credit quality, permitting a limited allocation—up to 5%—to below investment-grade bonds to enhance yield potential.
With significant assets under management and a history dating back to 1973, the fund plays an important role for investors seeking moderate risk and consistent monthly income. Its portfolio exhibits an intermediate average duration, offering balance between interest rate sensitivity and yield, which is suited for investors with a medium-term horizon. The fund is notable for its large number of holdings, broad sector exposure, and disciplined investment process, aiming to provide a higher level of income compared to money market or short-term bond funds, while keeping volatility relatively contained.
Fund Family T. Rowe Price
Category Intermediate Core Bond
Performance Rating Below Average
Risk Rating Average
Stock Exchange Nasdaq
Ticker Symbol PRCIX
Index Bloomberg U.S. Aggregate Bond TR
PRCIX had a total return of -2.73% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.35%.
