TSBZX Fees and Costs — T. Rowe Price QM U.S. Bond Index Fund, Z Class
Data updated: 2026-09-25
The net expense ratio is 0.00%: a 0.07% management fee plus 0.03% other expenses, less a 0.10% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $11K in broker commissions, 0.0006% of average net assets, and portfolio turnover was 67%.
TSBZX Fees and Expenses
Annual operating expenses and sales charges of TSBZX. Prospectus, as of December 22, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.07% |
| 12b-1 fee | — |
| Other expenses | 0.03% |
| Gross expense ratio | 0.10% |
| Fee waiver | −0.10% |
| 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 |
TSBZX Costs Over Time
On $10,000 invested in TSBZX, assuming 5% a year before costs, total costs come to $0 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 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $0 | $0 |
| Total costs | $0 | $0 | $0 |
| Value after costs | $10,500 | $11,576 | $12,762 |
| Impact on return, per year | 0.00% | 0.00% | 0.00% |
TSBZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0006%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $2.7B
- Portfolio turnover (prospectus): 67%
- Securities on loan, average value: $10.6M
- Net income from securities lending: $38K (0.002% of average net assets)
TSBZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $3K | 28.04% |
| MORGAN STANLEY & CO. LLC | $3K | 24.22% |
| Citigroup Inc. | $3K | 22.99% |
| BOFA SECURITIES, INC. | $2K | 17.91% |
| GOLDMAN SACHS & CO. LLC | $764 | 6.84% |
TSBZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $740.0M | 32.94% |
| GOLDMAN SACHS & CO. LLC | $321.2M | 14.30% |
| MORGAN STANLEY & CO. LLC | $208.9M | 9.30% |
| Citigroup Inc. | $208.4M | 9.28% |
| BARCLAYS CAPITAL INC. | $194.8M | 8.67% |
| J.P. MORGAN SECURITIES LLC | $144.7M | 6.44% |
| STONEX FINANCIAL INC. | $115.0M | 5.12% |
| BNP PARIBAS | $111.4M | 4.96% |
| BOFA SECURITIES, INC. | $105.5M | 4.70% |
| BMO Capital Markets Corp. | $96.5M | 4.30% |
T. Rowe Price QM U.S. Bond Index Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TSBZX | Z Class | 0.00% | — |
| TSBLX | I Class | 0.12% | — |
| PBDIX | T. Rowe Price QM U.S. Bond Index Fund | 0.25% | — |
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.