PAFRX Fees and Costs — T. Rowe Price Floating Rate Fund, Advisor Class
Data updated: 2026-08-12
The net expense ratio is 0.97%. There are no sales loads or redemption fees. Portfolio turnover was 66%.
PAFRX Fees and Expenses
Annual operating expenses and sales charges of PAFRX. Prospectus, as of July 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.58% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.22% |
| Gross expense ratio | — |
| Fee waiver | −0.08% |
| Net expense ratio | 0.97% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PAFRX Costs Over Time
On $10,000 invested in PAFRX, assuming 5% a year before costs, total costs come to $607 over 5 years, cutting the return by 1.02% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.97%) | $102 | $318 | $551 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $102 | $334 | $607 |
| Value after costs | $10,398 | $11,243 | $12,156 |
| Impact on return, per year | 1.02% | 1.02% | 1.02% |
PAFRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.5B
- Portfolio turnover (prospectus): 66%
- Securities lending: none during the year
PAFRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $492.2M | 18.88% |
| BOFA SECURITIES, INC. | $385.6M | 14.79% |
| MORGAN STANLEY & CO. LLC | $296.5M | 11.37% |
| GOLDMAN SACHS & CO. LLC | $286.2M | 10.98% |
| BARCLAYS CAPITAL INC. | $263.9M | 10.12% |
| Citigroup Inc. | $240.4M | 9.22% |
| RBC Capital Markets, LLC | $186.2M | 7.14% |
| UBS AG | $180.2M | 6.91% |
| JEFFERIES LLC | $147.9M | 5.67% |
| WELLS FARGO SECURITIES, LLC | $127.9M | 4.91% |
T. Rowe Price Floating Rate Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TRIZX | Z Class | 0.02% | — |
| TFAIX | I Class | 0.64% | — |
| PRFRX | T. Rowe Price Floating Rate Fund | 0.77% | — |
| PAFRX | Advisor Class | 0.97% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.