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Trending ETFs

Name

As of 04/19/2024

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

$6.78

$940 M

0.00%

1.15%

Vitals

YTD Return

-6.1%

1 yr return

-2.3%

3 Yr Avg Return

-9.2%

5 Yr Avg Return

-3.3%

Net Assets

$940 M

Holdings in Top 10

21.2%

52 WEEK LOW AND HIGH

$6.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.15%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 37.90%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/19/2024

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

$6.78

$940 M

0.00%

1.15%

PAIBX - Profile

Distributions

  • YTD Total Return -6.1%
  • 3 Yr Annualized Total Return -9.2%
  • 5 Yr Annualized Total Return -3.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.96%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    T. Rowe Price International Bond Fund
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    Mar 31, 2000
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Arif Husain

Fund Description

Normally, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in foreign bonds. The fund may invest up to 25% of its total assets in “junk” bonds that have received a below investment-grade rating (i.e., BB or equivalent, or lower) from each of the rating agencies that has assigned a rating to the bond or deemed by T. Rowe Price to be below investment-grade quality, including those in default or with the

lowest rating. If a bond is split-rated (i.e., assigned different ratings by different rating agencies or T. Rowe Price), the higher rating will be used.

The fund ordinarily invests in the securities of at least three countries; however, it may invest in the securities of one country, including the U.S., for temporary defensive purposes.

The fund may at times have significant investments in European countries, as well as Japan.

Although the fund expects to generally maintain an intermediate- to long-term weighted average maturity, there are no maturity restrictions on the overall portfolio or on individual securities purchased by the fund. Through the use of futures contracts and interest rate swaps, the fund may either extend or shorten the overall maturity of the fund and adjust its exposure with respect to particular countries or bond markets. A short position in a bond market means that the fund, for example, could sell interest rate futures with respect to bonds of a particular market and the value of the futures contract would exceed the value of the bonds held by the fund (or the fund could sell futures with respect to a particular bond market without owning any bonds in that market).

The fund normally purchases bonds issued in foreign currencies which may include bonds issued in emerging markets currencies. The fund’s currency positions will vary with its outlook on the strength or weakness of one foreign currency compared to another foreign currency and the relative value of various foreign currencies to one another. The fund may enter into forward currency exchange contracts in an effort to hedge against an expected decline in the value of currencies in which portfolio holdings are denominated, to increase exposure to a particular foreign currency or to shift the fund’s foreign currency exposure from one country to another, or to enhance the fund’s returns. In an effort to achieve these same goals, the fund may also enter into currency swaps, purchase and write options on currencies, and purchase and sell currency futures contracts and related options thereon, as well as use interest rate swaps and futures contracts to adjust its country exposure. Forward currency exchange contracts and other currency derivatives, such as swaps, options and futures, may be used to help protect the fund’s holdings from unfavorable changes in currency exchange rates, and the fund has wide flexibility to purchase and sell currencies independently of whether the fund owns bonds in those currencies and to engage in currency hedging transactions. Currency hedging is permitted and the fund is likely to be heavily exposed to foreign currencies. The fund may take a short position in a currency, which means that the fund could sell a currency in excess of its assets denominated in that currency (or the fund might sell a currency even if it does not own any assets denominated in that currency).

The fund may use credit default swaps to buy or sell credit protection on individual bond issuers or sectors of the bond markets. Credit default swaps may be used to replicate the exposure of a bond or portfolio of bonds and as a hedge against a default or other credit event involving one of the fund’s holdings. However, they may also be used to enhance returns by selling protection in situations where the adviser has a positive view on an issuer’s credit quality or by buying protection in situations where the adviser has a negative view on an issuer’s credit quality. If the fund buys protection, it effectively takes a short position, and if the

fund sells protection, it effectively takes a long position, with respect to the creditworthiness of the issuer or sector.

Investment decisions are based on fundamental market factors, such as yield and credit quality differences among bonds as well as supply and demand trends and currency values. The fund generally invests in securities where the combination of fixed-income returns and currency exchange rates appears attractive or, if the currency trend is unfavorable, the adviser believes the currency risk can be minimized through hedging.

The fund is “nondiversified,” meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a “diversified” fund.

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PAIBX - Performance

Return Ranking - Trailing

Period PAIBX Return Category Return Low Category Return High Rank in Category (%)
YTD -6.1% -59.5% 0.9% 75.73%
1 Yr -2.3% -15.5% 19.7% 64.42%
3 Yr -9.2%* -4.3% 4.2% 53.73%
5 Yr -3.3%* -2.5% 4.1% 47.34%
10 Yr -2.0%* -3.0% 2.7% 80.57%

* Annualized

Return Ranking - Calendar

Period PAIBX Return Category Return Low Category Return High Rank in Category (%)
2023 3.7% -15.2% 0.9% 67.50%
2022 -22.7% -10.9% 12.2% 11.34%
2021 -8.8% -10.8% 14.8% 47.92%
2020 10.0% -15.3% 0.6% 55.49%
2019 4.6% -44.4% 14.4% 19.63%

Total Return Ranking - Trailing

Period PAIBX Return Category Return Low Category Return High Rank in Category (%)
YTD -6.1% -59.5% 0.9% 73.79%
1 Yr -2.3% -16.6% 30.5% 56.40%
3 Yr -9.2%* -5.2% 10.9% 50.72%
5 Yr -3.3%* -2.8% 7.4% 42.78%
10 Yr -2.0%* -3.0% 3.6% 80.66%

* Annualized

Total Return Ranking - Calendar

Period PAIBX Return Category Return Low Category Return High Rank in Category (%)
2023 7.1% -15.2% 0.9% 67.50%
2022 -22.0% -10.9% 12.2% 11.34%
2021 -7.3% -10.8% 14.8% 47.92%
2020 11.1% -15.3% 3.8% 69.94%
2019 6.5% -44.4% 14.4% 21.47%

NAV & Total Return History


PAIBX - Holdings

Concentration Analysis

PAIBX Category Low Category High PAIBX % Rank
Net Assets 940 M 74.5 K 14.7 B 30.39%
Number of Holdings 521 4 4562 56.87%
Net Assets in Top 10 206 M -112 M 3.66 B 29.86%
Weighting of Top 10 21.16% 4.7% 100.0% 55.77%

Top 10 Holdings

  1. UNITED STATES TREASURY BILL 5.29%
  2. ITALY BUONI POLIENNALI DEL TESORO 2.50%
  3. T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND 1.79%
  4. SWEDEN GOVERNMENT BOND 1.77%
  5. JAPAN TREASURY DISCOUNT BILL 1.75%
  6. AUSTRALIA GOVERNMENT BOND 1.72%
  7. BUNDESREPUBLIK DEUTSCHLAND BUNDESANLEIHE 1.62%
  8. CHINA GOVERNMENT BOND 1.60%
  9. UNITED KINGDOM GILT 1.59%
  10. JAPAN GOVERNMENT TEN YEAR BOND 1.53%

Asset Allocation

Weighting Return Low Return High PAIBX % Rank
Bonds
95.89% 0.00% 220.33% 52.61%
Cash
4.11% -130.07% 95.62% 39.34%
Convertible Bonds
0.50% 0.00% 11.19% 78.67%
Other
0.00% -9.71% 100.00% 36.97%
Stocks
0.00% 0.00% 7.47% 53.08%
Preferred Stocks
0.00% 0.00% 2.87% 35.55%

Bond Sector Breakdown

Weighting Return Low Return High PAIBX % Rank
Government
78.54% 0.30% 99.47% 5.77%
Corporate
12.06% 0.00% 98.62% 67.31%
Cash & Equivalents
2.66% 0.00% 95.62% 25.48%
Securitized
0.38% 0.00% 52.02% 77.40%
Municipal
0.25% 0.00% 7.95% 14.42%
Derivative
-0.12% 0.00% 74.77% 60.10%

Bond Geographic Breakdown

Weighting Return Low Return High PAIBX % Rank
Non US
86.65% 0.00% 112.80% 6.16%
US
9.23% -5.52% 107.53% 74.41%

PAIBX - Expenses

Operational Fees

PAIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.15% 0.02% 3.65% 33.97%
Management Fee 0.49% 0.00% 2.08% 25.85%
12b-1 Fee 0.25% 0.00% 1.00% 24.24%
Administrative Fee 0.15% 0.01% 0.45% 61.54%

Sales Fees

PAIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.00% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PAIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 9.09%

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.

PAIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.90% 6.00% 354.00% 15.38%

PAIBX - Distributions

Dividend Yield Analysis

PAIBX Category Low Category High PAIBX % Rank
Dividend Yield 0.00% 0.00% 17.40% 43.60%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PAIBX Category Low Category High PAIBX % Rank
Net Income Ratio 0.96% -1.08% 5.77% 75.00%

Capital Gain Distribution Analysis

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

Distributions History

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PAIBX - Fund Manager Analysis

Managers

Arif Husain


Start Date

Tenure

Tenure Rank

Jan 01, 2014

8.42

8.4%

Arif Husain is head of International Fixed Income at T. Rowe Price and a member of the Global Fixed Income Investment Team. Mr. Husain is lead portfolio manager for the Global Aggregate and Global Unconstrained Bond Strategies and is co-portfolio manager for the firm's International Bond and Institutional International Bond Strategies. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd. Mr. Husain has 20 years of investment experience, two of which have been with T. Rowe Price. Prior to joining the firm in 2013, he spent 14 years as director of both European Fixed Income and Euro Portfolio Management at AllianceBernstein. He was also a member of the global fixed income and absolute return portfolio management teams. Mr. Husain previously worked as assistant director of European Derivatives Trading at Greenwich NatWest and also traded interest rate swaps at Bank of America National Trust & Savings Association. Mr. Husain received a B.Sc. (hons.) in banking and international finance from the City University, London Business School. He also has earned the Chartered Financial Analyst designation.

Kenneth Orchard


Start Date

Tenure

Tenure Rank

Dec 31, 2015

6.42

6.4%

Kenneth Orchard is a senior portfolio manager in the Fixed Income Division of T. Rowe Price and a member of the Global Fixed Income Investment Team. He is the portfolio manager for the Global Multi-Sector Bond and Diversified Income Bond Strategies and co-portfolio manager for the International Bond Strategies. Mr. Orchard earned a B.A. in international relations from the University of British Columbia and an M.Sc. in public financial policy from the London School of Economics. He has also earned the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 28.31 6.8 3.67