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Trending ETFs

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.03

$961 M

3.41%

$0.27

0.64%

Vitals

YTD Return

-1.4%

1 yr return

0.4%

3 Yr Avg Return

-3.1%

5 Yr Avg Return

-0.6%

Net Assets

$961 M

Holdings in Top 10

36.2%

52 WEEK LOW AND HIGH

$8.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.64%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.03

$961 M

3.41%

$0.27

0.64%

PRGMX - Profile

Distributions

  • YTD Total Return -1.4%
  • 3 Yr Annualized Total Return -3.1%
  • 5 Yr Annualized Total Return -0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.70%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    T. Rowe Price GNMA Fund
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    Nov 26, 1985
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Keir Joyce

Fund Description

The fund will normally invest at least 80% of its total assets in mortgage-backed securities issued by the Government National Mortgage Association (GNMA), an agency of the U.S. Department of Housing and Urban Development. For purposes of this requirement, total assets means the fund’s net assets plus any amounts borrowed for investment purposes. These securities represent “pools” of mortgage loans that are guaranteed either by the Federal Housing Administration or the Veterans Administration. Mortgage lenders pool individual home mortgages to back a certificate or bond, which entitle the holder to a proportionate share of the principal and interest payments that are made on the underlying pool of mortgage loans.

Up to 20% of the fund’s total assets may be invested in high-quality securities that are not backed by the full faith and credit of the U.S. government. These securities must have a credit rating in one of the two highest rating categories (AA or AAA, or an equivalent rating) assigned by at least one of the major credit rating agencies at the time of purchase or, if unrated, deemed by the adviser to be of comparable quality. Such securities may include,

among others, mortgage-backed securities issued by government agencies (such as the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation) that are not backed by the full faith and credit of the U.S. government and mortgage-related securities issued by private banks and other non-governmental issuers.

In selecting securities, the portfolio manager may weigh the characteristics of various types of mortgage-backed securities and examine yield relationships in the context of the outlook for interest rates and the economy. For example, if interest rates seem likely to fall, the portfolio manager may purchase mortgage-backed securities expected to have below-average prepayment rates with longer maturities and allocate some assets to bonds or other securities that could appreciate in that environment.

GNMA guarantees the timely payment of interest and principal on the securities it issues, a guarantee backed by the U.S. Treasury. The GNMA guarantee does not apply to the price of GNMA securities or the fund’s share price, both of which will fluctuate with market conditions.

There is no limit on the maturity of individual securities in the fund’s portfolio or on the fund’s overall weighted average maturity, which will vary and can be influenced by various factors such as the general level of interest rates, and principal prepayments of GNMA and other mortgage-backed securities.

The fund may use a variety of derivatives, such as futures, forwards, and swaps for a number of purposes, such as for exposure or hedging. Specifically, the fund uses interest rate swaptions and interest rate futures primarily in an effort to manage its exposure to changes in interest rates or to adjust portfolio duration.

The fund may also purchase or sell mortgage-backed securities on a delayed delivery or forward commitment basis through the “to-be-announced” (TBA) market. With TBA transactions, the particular securities to be delivered are not identified at the trade date, but the delivered securities must meet specified terms and standards. The fund will generally enter into TBA transactions with the intention of taking possession of the underlying mortgage-backed securities. However, in an effort to obtain underlying mortgage-backed securities on more preferable terms or to enhance returns, the fund may extend the settlement by entering into “dollar roll” transactions in which the fund sells mortgage-backed securities and simultaneously agrees to purchase substantially similar securities on a future date. The fund also expects to engage in short sales of TBA mortgages, including short sales on TBA mortgages the fund does not own, to potentially enhance returns or manage risk.

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PRGMX - Performance

Return Ranking - Trailing

Period PRGMX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.4% -2.1% 9.6% 85.46%
1 Yr 0.4% -2.8% 36.8% 49.34%
3 Yr -3.1%* -7.8% 11.7% 44.69%
5 Yr -0.6%* -5.4% 3.4% 59.81%
10 Yr 0.6%* -1.9% 3.4% 45.78%

* Annualized

Return Ranking - Calendar

Period PRGMX Return Category Return Low Category Return High Rank in Category (%)
2023 1.9% -1.0% 22.1% 9.65%
2022 -12.6% -20.4% -5.8% 23.35%
2021 -2.8% -7.1% 16.6% 34.23%
2020 2.7% -1.3% 8.8% 59.53%
2019 2.7% 0.3% 7.1% 73.11%

Total Return Ranking - Trailing

Period PRGMX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.4% -2.1% 9.6% 85.46%
1 Yr 0.4% -2.8% 36.8% 49.34%
3 Yr -3.1%* -7.8% 11.7% 44.69%
5 Yr -0.6%* -5.4% 3.4% 59.81%
10 Yr 0.6%* -1.9% 3.4% 45.78%

* Annualized

Total Return Ranking - Calendar

Period PRGMX Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% -0.5% 28.8% 15.79%
2022 -11.0% -18.5% -3.3% 32.60%
2021 -2.2% -4.5% 25.3% 70.72%
2020 4.2% -1.3% 13.0% 75.35%
2019 5.2% 1.8% 11.3% 79.25%

NAV & Total Return History


PRGMX - Holdings

Concentration Analysis

PRGMX Category Low Category High PRGMX % Rank
Net Assets 961 M 9.79 M 113 B 46.05%
Number of Holdings 768 18 12861 29.82%
Net Assets in Top 10 366 M 5.49 M 43.7 B 46.49%
Weighting of Top 10 36.24% 6.3% 115.2% 55.26%

Top 10 Holdings

  1. T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND 5.39%
  2. GINNIE MAE II POOL 5.10%
  3. GINNIE MAE II POOL 4.74%
  4. GINNIE MAE II POOL 4.15%
  5. GINNIE MAE II POOL 3.64%
  6. GINNIE MAE II POOL 3.60%
  7. GINNIE MAE II POOL 3.04%
  8. GINNIE MAE II POOL 2.36%
  9. GINNIE MAE 2.19%
  10. GINNIE MAE II POOL 2.02%

Asset Allocation

Weighting Return Low Return High PRGMX % Rank
Bonds
106.76% 0.08% 167.02% 30.26%
Cash
5.39% -29.69% 22.63% 30.26%
Other
0.03% -26.81% 18.17% 58.77%
Stocks
0.00% 0.00% 96.75% 61.84%
Preferred Stocks
0.00% 0.00% 0.10% 60.09%
Convertible Bonds
0.00% 0.00% 3.29% 60.53%

Bond Sector Breakdown

Weighting Return Low Return High PRGMX % Rank
Securitized
84.19% 0.00% 99.79% 23.25%
Government
12.89% 0.00% 100.00% 64.04%
Cash & Equivalents
5.39% -29.63% 33.75% 34.21%
Corporate
0.00% 0.00% 9.48% 72.37%
Municipal
0.00% 0.00% 5.24% 66.67%
Derivative
-0.02% -20.68% 6.72% 82.02%

Bond Geographic Breakdown

Weighting Return Low Return High PRGMX % Rank
US
106.76% 0.08% 167.02% 30.26%
Non US
0.00% 0.00% 12.01% 61.40%

PRGMX - Expenses

Operational Fees

PRGMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.64% 0.03% 3.55% 55.51%
Management Fee 0.36% 0.00% 0.85% 54.39%
12b-1 Fee N/A 0.00% 1.00% 17.60%
Administrative Fee 0.15% 0.01% 0.45% 86.79%

Sales Fees

PRGMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 4.50% N/A
Deferred Load N/A 1.00% 4.50% N/A

Trading Fees

PRGMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PRGMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 3.35% 948.00% 83.17%

PRGMX - Distributions

Dividend Yield Analysis

PRGMX Category Low Category High PRGMX % Rank
Dividend Yield 3.41% 0.00% 4.67% 53.95%

Dividend Distribution Analysis

PRGMX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Monthly

Net Income Ratio Analysis

PRGMX Category Low Category High PRGMX % Rank
Net Income Ratio 0.70% -0.80% 2.96% 54.19%

Capital Gain Distribution Analysis

PRGMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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PRGMX - Fund Manager Analysis

Managers

Keir Joyce


Start Date

Tenure

Tenure Rank

Jan 01, 2019

3.41

3.4%

Mr.Joyce joined T.Rowe Price in 2001 and his investment experience dates from 1998.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.11 31.64 8.39 7.35