TRZOX Performance — T. Rowe Price Short-Term Bond Fund, Inc., Z Class
Data updated: 2026-08-12
TRZOX returned +1.23% year to date and +4.74% over one year to May 2026. Annualised returns are +5.47% over 3 years and +2.70% over 5 years. The fund trailed its Short-Term Core Bond category average: $100 invested three years ago grew to $117, against $119 for the category, and to $105 over one year, against $105. Volatility over the past three years was 1.55% a year. In the 12 months to May 2026 the fund took in a net $681.8M, and assets reached $5.34B.
TRZOX Growth of $100
What $100 invested in T. Rowe Price Short-Term Bond Fund, Inc. grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Core Bond category average over the same months.
| Period | TRZOX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $105 | $105 |
| 3 years (Jun 2023 – May 2026) | $117 | $119 |
| 5 years (Jun 2021 – May 2026) | $114 | $113 |
| Since data start (Feb 2021 – May 2026) | $115 | $114 |
TRZOX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.23% |
| 1 year | +4.74% |
| 3 years (annualised) | +5.47% |
| 5 years (annualised) | +2.70% |
TRZOX Annual Returns
Calendar-year total returns of T. Rowe Price Short-Term Bond Fund, Inc., compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.23% |
| 2025 | +5.94% |
| 2024 | +5.55% |
| 2023 | +5.57% |
| 2022 | −4.08% |
| 2021 (Feb–Dec) | −0.06% |
TRZOX 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 | +0.4% | +0.6% | −0.5% | +0.4% | +0.4% | — | — | — | — | — | — | — |
| 2025 | +0.4% | +0.8% | +0.4% | +0.8% | 0.0% | +0.8% | 0.0% | +1.1% | +0.4% | +0.4% | +0.4% | +0.4% |
| 2024 | +0.6% | −0.1% | +0.4% | −0.1% | +0.7% | +0.6% | +1.3% | +0.9% | +1.0% | −0.5% | +0.4% | +0.4% |
| 2023 | +1.4% | −0.9% | +1.0% | +0.7% | −0.4% | −0.1% | +0.5% | +0.3% | +0.1% | +0.1% | +1.5% | +1.2% |
| 2022 | −0.7% | −0.5% | −1.1% | −0.9% | +0.4% | −0.9% | +0.9% | −0.7% | −1.5% | −0.4% | +0.9% | +0.5% |
| 2021 | — | 0.0% | −0.1% | +0.2% | +0.1% | −0.1% | +0.1% | +0.1% | −0.1% | −0.3% | −0.1% | −0.1% |
TRZOX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 1.55%
- 3-year Sharpe ratio: 0.62 (vs 4.5% risk-free rate)
- Best month: +1.46% (Nov 2023)
- Worst month: −0.48% (Oct 2024)
TRZOX Fund Flows
Monthly money in and out of T. Rowe Price Short-Term Bond Fund, Inc., from SEC Form N-PORT.
- 12-month net flow: $681.8M
- 12-month gross sales (incl. reinvestments): $1.8B
- Sales ÷ redemptions: 1.62×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $296.3M | $81.8M | $214.5M |
| Apr 2026 | $322.1M | $86.2M | $235.9M |
| Mar 2026 | $173.8M | $91.1M | $82.7M |
| Feb 2026 | $84.7M | $71.2M | $13.5M |
| Jan 2026 | $155.7M | $115.5M | $40.2M |
| Dec 2025 | $143.4M | $88.6M | $54.8M |
| Nov 2025 | $92.4M | $59.9M | $32.5M |
| Oct 2025 | $175.6M | $75.6M | $99.9M |
| Sep 2025 | $85.0M | $115.7M | −$30.7M |
| Aug 2025 | $87.5M | $89.4M | −$1.8M |
| Jul 2025 | $114.3M | $134.4M | −$20.1M |
| Jun 2025 | $57.7M | $97.4M | −$39.7M |
TRZOX Assets Under Management
Net assets of T. Rowe Price Short-Term Bond Fund, Inc. by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $5.34B |
| 2026-02-28 | $4.85B |
| 2025-11-30 | $4.73B |
| 2025-08-31 | $4.63B |
| 2025-05-31 | $4.66B |
| 2025-02-28 | $4.72B |
| 2024-11-30 | $4.67B |
| 2024-08-31 | $4.71B |
| 2024-05-31 | $4.67B |
| 2024-02-29 | $4.65B |
| 2023-11-30 | $4.56B |
| 2023-08-31 | $4.47B |
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.