TRAZX Performance — T. Rowe Price Institutional Floating Rate Fund, Z Class
Data updated: 2026-08-12
TRAZX returned +0.85% year to date and +7.47% over one year to Apr 2026. Annualised returns are +8.80% over 3 years and +6.64% over 5 years. The fund beat its Ultrashort Corporate Bond category average: $100 invested three years ago grew to $129, against $123 for the category, and to $107 over one year, against $107. Volatility over the past three years was 2.09% a year. In the 12 months to May 2026 the fund took in a net $236.5M, and assets reached $4.89B.
TRAZX Growth of $100
What $100 invested in T. Rowe Price Institutional Floating Rate Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Ultrashort Corporate Bond category average over the same months.
| Period | TRAZX | Category average |
|---|---|---|
| 1 year (May 2025 – Apr 2026) | $107 | $107 |
| 3 years (May 2023 – Apr 2026) | $129 | $123 |
| 5 years (May 2021 – Apr 2026) | $138 | $126 |
| Since data start (Mar 2020 – Apr 2026) | $150 | $132 |
TRAZX Trailing Returns
Total returns to Apr 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.85% |
| 1 year | +7.47% |
| 3 years (annualised) | +8.80% |
| 5 years (annualised) | +6.64% |
TRAZX Annual Returns
Calendar-year total returns of T. Rowe Price Institutional Floating Rate Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Apr) | +0.85% |
| 2025 | +7.36% |
| 2024 | +9.74% |
| 2023 | +12.95% |
| 2022 | −0.17% |
| 2021 | +5.20% |
| 2020 (Mar–Dec) | +6.67% |
TRAZX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.0% | −0.9% | +0.6% | +1.1% | — | — | — | — | — | — | — | — |
| 2025 | +0.7% | +0.3% | −0.2% | 0.0% | +1.8% | +0.8% | +0.8% | +0.6% | +0.6% | +0.5% | +0.5% | +0.9% |
| 2024 | +0.8% | +0.9% | +0.8% | +0.7% | +1.0% | +0.5% | +1.0% | +0.7% | +0.5% | +0.8% | +1.2% | +0.5% |
| 2023 | +2.6% | +0.5% | +0.2% | +0.9% | −0.4% | +2.2% | +1.3% | +1.1% | +0.7% | 0.0% | +1.6% | +1.6% |
| 2022 | +0.2% | −0.4% | 0.0% | +0.1% | −2.3% | −2.3% | +2.6% | +1.2% | −2.1% | +1.3% | +1.3% | +0.4% |
| 2021 | +0.9% | +0.5% | +0.2% | +0.6% | +0.5% | +0.4% | +0.1% | +0.5% | +0.6% | +0.4% | −0.2% | +0.8% |
| 2020 | — | — | −7.8% | +4.3% | +3.5% | +0.2% | +2.2% | +0.8% | +0.3% | +0.2% | +1.8% | +1.4% |
TRAZX Risk
Risk measures from monthly returns over May 2023 – Apr 2026.
- 3-year volatility (annualised): 2.09%
- 3-year Sharpe ratio: 2.06 (vs 4.5% risk-free rate)
- Best month: +2.24% (Jun 2023)
- Worst month: −0.85% (Feb 2026)
TRAZX Fund Flows
Monthly money in and out of T. Rowe Price Institutional Floating Rate Fund, from SEC Form N-PORT.
- 12-month net flow: $236.5M
- 12-month gross sales (incl. reinvestments): $1.9B
- Sales ÷ redemptions: 1.15×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $92.1M | $187.3M | −$95.2M |
| Apr 2026 | $126.4M | $120.6M | $5.8M |
| Mar 2026 | $172.0M | $124.3M | $47.7M |
| Feb 2026 | $106.5M | $199.9M | −$93.5M |
| Jan 2026 | $138.3M | $82.7M | $55.6M |
| Dec 2025 | $138.3M | $330.7M | −$192.4M |
| Nov 2025 | $113.1M | $94.0M | $19.1M |
| Oct 2025 | $339.6M | $105.3M | $234.2M |
| Sep 2025 | $153.8M | $110.3M | $43.5M |
| Aug 2025 | $113.2M | $119.1M | −$5.9M |
| Jul 2025 | $233.6M | $86.3M | $147.3M |
| Jun 2025 | $138.4M | $68.3M | $70.1M |
TRAZX Assets Under Management
Net assets of T. Rowe Price Institutional Floating Rate Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $4.89B |
| 2026-02-28 | $4.90B |
| 2025-11-30 | $5.22B |
| 2025-08-31 | $4.94B |
| 2025-05-31 | $4.72B |
| 2025-02-28 | $4.59B |
| 2024-11-30 | $4.22B |
| 2024-08-31 | $4.14B |
| 2024-05-31 | $4.29B |
| 2024-02-29 | $4.03B |
| 2023-11-30 | $3.92B |
| 2023-08-31 | $3.96B |
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.