Fund Evaluator:

T. Rowe Price US Limited Dtn TIPS Z Overview

T. Rowe Price US Limited Dtn TIPS Z (TLDZX) is a passively managed Taxable Bond Short-Term Inflation-Protected Bond fund. T. Rowe Price launched the fund in 2020.

The investment seeks income by investing in inflation-linked securities. The fund advisor seeks to provide a total return that matches or incrementally exceeds the performance of Treasury Inflation Protected Securities with maturities between one and five years by providing total returns that match or incrementally exceed the total returns of the Bloomberg U.S. 1-5 Year Treasury TIPS Index. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in Treasury Inflation Protected Securities and in securities that are held in the index.

About T. Rowe Price US Limited Dtn TIPS Z (TLDZX)

There are 2 members of the management team with an average tenure of 2.00 years: Robert Larkins (2024), Yongheon Lee (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg U.S. Treasury TIPS 1-5Y TR USD index with a weighting of 100%. T. Rowe Price US Limited Dtn TIPS Z has 26 securities in its portfolio. The top 10 holdings constitute 74.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

T. Rowe Price US Limited Dtn TIPS Z is part of the Fixed Income global asset class and is within the Taxable Bond fund group. T. Rowe Price US Limited Dtn TIPS Z has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.7% (99.7% domestic bond, 0.0% foreign bond and 0.0% convertible bond). T. Rowe Price US Limited Dtn TIPS Z has 0.3% of the portfolio in cash.

Assets Under Management

The fund has $516 million in total assets, which is below the $1 billion average for the Short-Term Inflation-Protected Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

TLDZX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The T. Rowe Price US Limited Dtn TIPS Z expense ratio is low compared to funds in the Short-Term Inflation-Protected Bond category. T. Rowe Price US Limited Dtn TIPS Z has an expense ratio of 0.00%, which is 100% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. T. Rowe Price US Limited Dtn TIPS Z has a portfolio turnover rate of 44%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 63% for the Short-Term Inflation-Protected Bond category.

Recently, in the month of June 2026, T. Rowe Price US Limited Dtn TIPS Z returned -0.5%, which earned it a grade of B, as the Short-Term Inflation-Protected Bond category had an average return of -0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

T. Rowe Price US Limited Dtn TIPS Z has a trailing yield of 4.69%, which is above the 4.31% category average. The fund normally distributes its income monthly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

T. Rowe Price US Limited Dtn TIPS Z Grades

Year to date, the fund has returned 1.4%, 0.0 percentage points better than the category, which translates into a grade of C. The fund has returned 3.3% over the past year (grade of C), 5.0% over the past three years (grade of C) and 2.6% per year over the past five years (grade of D).

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