About RPELX
T. Rowe Price Dynamic Credit Fund - I Class is a mutual fund designed to seek total return through a combination of income and capital appreciation. It operates as a liquid credit alternative strategy within the multi-asset credit universe, employing a flexible, cross-sector approach to source high-conviction security selection from T. Rowe Price's global multi-sector research platform. The fund harvests cheap or dislocated global credit risk premia across sectors like high yield, emerging markets, securitized credit, investment grade, and convertibles, while managing beta and duration volatility through hedging, shorting, and active credit positions. With a long bias in credit and a concentrated portfolio of typically 100 to 200 issuers, it targets lower correlations to high yield and equities, aiming for attractive returns with reduced volatility in various market environments. Diversified geographically, primarily in North America, and by credit quality from investment grade to high yield and not rated securities, it invests in a range of debt instruments including derivatives for enhanced alpha potential. This I Class share is tailored for institutional investors seeking capital preservation through credit cycles in the nontraditional bond category.
Fund Family T. Rowe Price
Category Alt Credit Focus
Performance Rating Above Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol RPELX
Share Class -i Class
Index ICE BofA US 3-Month T Bill TR IX
RPELX had a total return of -2.01% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.70%.
