Fund Evaluator:

T. Rowe Price US Treasury Interm Idx Overview

T. Rowe Price US Treasury Interm Idx (PRTIX) is a passively managed Taxable Bond Intermediate Government fund. T. Rowe Price launched the fund in 1989.

The investment seeks a high level of income consistent with maximum credit protection and moderate fluctuation in principal. The fund seeks to provide a total return that matches or incrementally exceeds the performance of the intermediate-term U.S. Treasury bond market by providing total returns that match or incrementally exceed the total returns of the Bloomberg U.S. 4-10 Year Treasury Bond Index. The fund normally invests at least 80% of its net assets in securities that are held in the index and at least 80% of its net assets in U.S. Treasury securities, which are backed by the full faith and credit of the U.S. government.

About T. Rowe Price US Treasury Interm Idx (PRTIX)

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 US Treasury 4-10 Yr TR USD index with a weighting of 100%. T. Rowe Price US Treasury Interm Idx has 54 securities in its portfolio. The top 10 holdings constitute 47.0% 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 Treasury Interm Idx is part of the Fixed Income global asset class and is within the Taxable Bond fund group. T. Rowe Price US Treasury Interm Idx 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 98.7% (98.7% domestic bond, 0.0% foreign bond and 0.0% convertible bond). T. Rowe Price US Treasury Interm Idx has 1.3% of the portfolio in cash.

Assets Under Management

The fund has $270 million in total assets, which is below the $935 million average for the Intermediate Government 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.

PRTIX 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 Treasury Interm Idx expense ratio is below average compared to funds in the Intermediate Government category. T. Rowe Price US Treasury Interm Idx has an expense ratio of 0.31%, which is 49% lower than its category average, making the fund expense ratio grade a B. 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 Treasury Interm Idx has a portfolio turnover rate of 47%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 100% for the Intermediate Government category.

Recently, in the month of June 2026, T. Rowe Price US Treasury Interm Idx returned 0.1%, which earned it a grade of D, as the Intermediate Government category had an average return of 0.2%. 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 Treasury Interm Idx has a trailing yield of 3.73%, which is above the 3.49% category average. The fund normally distributes its income monthly and its capital gains annually.

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 Treasury Interm Idx Grades

Year to date, the fund has returned -0.3%, 0.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.1% over the past year (grade of F), 3.4% over the past three years (grade of C) and -0.7% per year over the past five years (grade of F) and 0.6% per year over the past 10 years (grade of D).

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