T. Rowe Price Short-Term Bond Fund (PRWBX)

Fund Assets	5.22B
Expense Ratio	0.491%
Min. Investment	$2,500
Turnover	110.90%
Dividend (ttm)	0.19
Dividend Yield	4.22%
Dividend Growth	-0.72%
Payout Frequency	Monthly
Ex-Dividend Date	Sep 30, 2026

Previous Close	4.550
YTD Return	n/a
1-Year Return	1.07%
5-Year Return	9.09%
52-Week Low	4.540
52-Week High	4.660
Beta (5Y)	0.06
Holdings	1029
Inception Date	Mar 2, 1984

About PRWBX

T. Rowe Price Short-Term Bond Fund is an actively managed mutual fund focused on generating a high level of income while aiming to keep principal fluctuations minimal and maintain liquidity. It invests predominantly in investment-grade, short- to intermediate‑term debt, including corporate bonds, U.S. government securities, and asset- and mortgage‑backed securities, with flexibility to allocate to bank obligations and select foreign issues. The portfolio typically holds at least 80% in bonds and maintains an average effective maturity that normally does not exceed three years, positioning it in the short-term bond category. The fund’s profile emphasizes moderate credit quality and limited interest rate sensitivity, reflected in an effective duration under two years. It distributes income monthly and has a long operating history since 1984 under T. Rowe Price’s fixed income platform. Within the market, it serves as a core short-duration option for investors seeking diversified investment‑grade exposure and income generation with a conservative risk posture relative to longer‑duration bond strategies.

• Fund Family: T. Rowe Price
• Category: Short-Term Bond
• Performance Rating: Average
• Risk Rating: Average
• Stock Exchange: Nasdaq
• Ticker Symbol: PRWBX
• Index: Bloomberg 1-3 Y Government/Credit TR

Performance

PRWBX had a total return of 1.07% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.22%.

Equivalent Funds

These are funds that follow the same index from the other major fund companies.

Symbol	Provider	Name	Expense Ratio
FBNTX	Fidelity	Fidelity Advisor Short-Term Bd M	0.51%
FBNAX	Fidelity	Fidelity Advisor Short-Term Bd A	0.50%
FBNIX	Fidelity	Fidelity Advisor Short-Term Bd I	0.30%
FANCX	Fidelity	Fidelity Advisor Short-Term Bd C	1.40%
FIKTX	Fidelity	Fidelity Advisor Short-Term Bond Z	0.25%

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
TRZOX	T. Rowe Price Short-term Bond Fund-z Class	n/a
TBSIX	T. Rowe Price Short-term Bond Fund-i Class	0.33%
PASHX	T. Rowe Price Short-term Bond Fund-advisor Class	0.82%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 30, 2026	$0.01587	Sep 30, 2026
Aug 31, 2026	$0.01556	Aug 31, 2026
Jul 31, 2026	$0.01768	Jul 31, 2026
Jun 30, 2026	$0.01573	Jun 30, 2026
May 29, 2026	$0.01623	May 29, 2026
Apr 30, 2026	$0.01544	Apr 30, 2026

Data Sources: Tiingo, Financial Modeling Prep, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Financial Modeling Prep. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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