T. Rowe Price Spectrum Income Fund
T. ROWE PRICE SPECTRUM FUND, INC. · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
T. Rowe Price Spectrum Income Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2026 Q1
The fund seeks a high level of current income with moderate share price fluctuation.
The fund invests primarily in a mix of T. Rowe Price fixed income funds that generate income, rather than holding individual securities directly, with allocations across U.S. and international bond funds, emerging market bonds, high-yield bonds, mortgage-backed and asset-backed securities, inflation-linked securities, bank loans, and money market funds. The adviser adjusts the allocation among underlying funds based on outlook for inflation, interest rates, currency valuations, and the yield advantage of lower-rated bonds, and may use derivatives such as interest rate futures, swaps, credit default swaps, and forward currency contracts to manage duration and credit risk. Because the fund's returns depend on the adviser's allocation decisions and the performance of the underlying funds selected, results may diverge from broad fixed income benchmarks.
| Share class | Gross | Net | As of |
|---|---|---|---|
| RPSIX | 0.62% | 0.61% | 2025 Q1 |
| TSPNX | 0.47% | 0.46% | 2025 Q1 |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 88.40% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 70.23% |
| Securitized | 15.41% |
| Loans | 10.91% |
| Cash & short-term | 4.95% |
| 2 smaller | 0.87% |
Look-through blends 17 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
Latest quarter
What changed since the fund's previous filing
Largest new: U S TREASURY BILL, JACK 2026-1A A2 144A, STACR 2026-HQA1 M1 144A, FCBSL 2024-2AR B2R 144A, SYMP 2024-43AR A1R 144A, BX 2026-PNDA B 144A, TACLN 2026-1 B 144A, STACR 2026-DNA2 M1 144A
Largest exited: U S TREASURY BILL, FVM6 US 5YR NOTE (CBT) JUN26, JPMCC 2016-NINE A 144A, SDART 2024-2 B, CRVNA 2024-P4 C, PROG 2021-SFR3 F 144A, ARIFL 2025-B A3 144A, SYMP 2024-43A A1 144A
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +6.54% | +17.98% | +10.31% | 2.58% | -4.31% | |
| +6.69% | +18.62% | +11.04% | 2.58% | -4.27% |
These classes hold the same portfolio, so the 0.74pp spread over 5 years is the cost difference between them — roughly 0.15pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 48.9% |
| Fixed rate | 48.8% |
| Zero-coupon or unclassified | 2.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.3% |
| 1-3y | 2.0% |
| 3-5y | 10.0% |
| 5-10y | 28.6% |
| 10y+ | 57.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
This fund filed the credit-spread disclosure and reported no sensitivity — measured, and the answer is none.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| TRKZX | TRP HIGH YIELD FD-ZTRKZX | 13.27% | $5.92 | $817.56M | 138.1M |
| — | TRP US HIGH YIELD ETF | 11.62% | $51.56 | $715.90M | 13.9M |
| TRIZX | TRP FLOATING RATE FD-ZTRIZX | 9.84% | $9.05 | $606.57M | 67.0M |
| — | TRP QM US BOND ETF | 8.65% | $42.46 | $532.94M | 12.6M |
| TREZX | TRP EMER MKTS BND FD-ZTREZX | 8.21% | $9.93 | $506.25M | 51.0M |
| — | TRP TOTAL RETURN ETF | 6.83% | $40.07 | $420.72M | 10.5M |
| TRMZX | TRP INTL BOND FD (USD HEDGED)-ZTRMZX | 5.53% | $8.53 | $340.53M | 39.9M |
| TRDZX | TRP DYNAMIC GLOBAL BOND FD-ZTRDZX | 5.05% | $7.62 | $311.48M | 40.9M |
| TRCDX | TRP DYNAMIC CREDIT FD-ZTRCDX | 5.00% | $8.53 | $308.04M | 36.1M |
| TRZFX | TRP EMRG MKTS LOCAL CURR BD FD-ZTRZFX | 4.60% | $5.03 | $283.25M | 56.3M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 78.59% of net assets, top 25 93.67%, across 430 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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