TRMZX Fees and Costs — T. Rowe Price International Bond Fund (USD Hedged), Z Class
Data updated: 2026-08-27
The net expense ratio is 0.00%: a 0.48% management fee plus 0.03% other expenses, less a 0.51% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $276K in broker commissions, 0.0039% of average net assets, and portfolio turnover was 71%.
TRMZX Fees and Expenses
Annual operating expenses and sales charges of TRMZX. Prospectus, as of February 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.48% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.51% |
| Fee waiver | −0.51% |
| Net expense ratio | 0.00% |
| 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 |
TRMZX Costs Over Time
On $10,000 invested in TRMZX, assuming 5% a year before costs, total costs come to $2 over 5 years, cutting the return by 0.00% 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 0.00%) | $0 | $0 | $0 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $0 | $0 |
| Total costs | $0 | $1 | $2 |
| Value after costs | $10,500 | $11,575 | $12,760 |
| Impact on return, per year | 0.00% | 0.00% | 0.00% |
TRMZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0039%
- Total broker commissions: $276K
- Bought from dealers (principal trades, not a cost): $13.0B
- Portfolio turnover (prospectus): 71%
- Securities on loan, average value: $24.1M
- Net income from securities lending: $105K (0.001% of average net assets)
TRMZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $107K | 38.88% |
| BOFA SECURITIES, INC. | $74K | 26.84% |
| J.P. MORGAN SECURITIES LLC | $46K | 16.74% |
| Citigroup Inc. | $32K | 11.61% |
| MORGAN STANLEY & CO. LLC | $10K | 3.69% |
| Deutsche Bank Securities Inc. | $6K | 2.25% |
TRMZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Inc. | $1.3B | 14.85% |
| MORGAN STANLEY & CO. LLC | $1.2B | 14.37% |
| J.P. MORGAN SECURITIES LLC | $1.1B | 12.23% |
| BARCLAYS CAPITAL INC. | $1.0B | 11.90% |
| BOFA SECURITIES, INC. | $790.0M | 9.19% |
| HSBC Securities (USA) Inc. | $727.1M | 8.46% |
| Deutsche Bank Securities Inc. | $716.0M | 8.33% |
| BMO Capital Markets Corp. | $629.9M | 7.33% |
| GOLDMAN SACHS & CO. LLC | $586.6M | 6.82% |
| ASL CAPITAL MARKETS INC. | $560.5M | 6.52% |
T. Rowe Price International Bond Fund (USD Hedged) Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TRMZX | Z Class | 0.00% | — |
| TNBMX | I Class | 0.53% | — |
| TNIBX | T. Rowe Price International Bond Fund (USD Hedged) | 0.79% | — |
| TTABX | Advisor Class | 0.99% | — |
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.