TRSTX Fees and Costs — T. Rowe Price Ultra Short-Term Bond Fund, I Class
Data updated: 2026-08-12
The net expense ratio is 0.20%: a 0.16% management fee plus 0.04% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $66K in broker commissions, 0.0025% of average net assets, and portfolio turnover was 86%.
TRSTX Fees and Expenses
Annual operating expenses and sales charges of TRSTX. Prospectus, as of July 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.16% |
| 12b-1 fee | — |
| Other expenses | 0.04% |
| Gross expense ratio | 0.20% |
| Fee waiver | — |
| Net expense ratio | 0.20% |
| 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 |
TRSTX Costs Over Time
On $10,000 invested in TRSTX, assuming 5% a year before costs, total costs come to $129 over 5 years, cutting the return by 0.21% 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 0.20%) | $21 | $66 | $116 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $21 | $70 | $129 |
| Value after costs | $10,479 | $11,506 | $12,634 |
| Impact on return, per year | 0.21% | 0.21% | 0.21% |
TRSTX 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): 0.0025%
- Total broker commissions: $66K
- Bought from dealers (principal trades, not a cost): $17.3B
- Portfolio turnover (prospectus): 86%
- Securities on loan, average value: $5.9M
- Net income from securities lending: $17K (0.001% of average net assets)
TRSTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $24K | 35.54% |
| Citigroup Inc. | $19K | 28.55% |
| J.P. MORGAN SECURITIES LLC | $11K | 16.47% |
| MORGAN STANLEY & CO. LLC | $7K | 11.13% |
| BOFA SECURITIES, INC. | $6K | 8.31% |
TRSTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $3.2B | 20.48% |
| J.P. MORGAN SECURITIES LLC | $2.6B | 16.66% |
| WELLS FARGO SECURITIES, LLC | $2.0B | 13.12% |
| Citigroup Inc. | $2.0B | 12.94% |
| MIZUHO SECURITIES USA LLC | $1.5B | 9.79% |
| BARCLAYS CAPITAL INC. | $1.5B | 9.35% |
| RBC Capital Markets, LLC | $926.4M | 5.93% |
| GOLDMAN SACHS & CO. LLC | $681.4M | 4.36% |
| Mitsubishi UFJ Morgan Stanley Securities Co.,Ltd. | $647.0M | 4.14% |
| Truist Securities, Inc. | $505.7M | 3.24% |
T. Rowe Price Ultra Short-Term Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TRZWX | Z Class | 0.00% | — |
| TRSTX | I Class | 0.20% | — |
| TRBUX | T. Rowe Price Ultra Short-Term Bond Fund | 0.31% | — |
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.