T. Rowe Price Spectrum Income Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, T. Rowe Price Spectrum Income Fund held 430 positions with $6.16B in net assets. Its ten largest holdings made up 78.6% of the fund. The RPSIX share class costs 0.61% a year. Over the 12 months to May 2026, RPSIX returned 6.2%, with dividends reinvested. In 2026 Q2 it added 78 new positions and exited 60.
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.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
TRKZXTRP HIGH YIELD FD-Z | 13.27% | $817.56M | 138.1M | $5.92 |
TRP US HIGH YIELD ETF | 11.62% | $715.90M | 13.9M | $51.56 |
TRIZXTRP FLOATING RATE FD-Z | 9.84% | $606.57M | 67.0M | $9.05 |
TRP QM US BOND ETF | 8.65% | $532.94M | 12.6M | $42.46 |
TREZXTRP EMER MKTS BND FD-Z | 8.21% | $506.25M | 51.0M | $9.93 |
TRP TOTAL RETURN ETF | 6.83% | $420.72M | 10.5M | $40.07 |
TRMZXTRP INTL BOND FD (USD HEDGED)-Z | 5.53% | $340.53M | 39.9M | $8.53 |
TRDZXTRP DYNAMIC GLOBAL BOND FD-Z | 5.05% | $311.48M | 40.9M | $7.62 |
TRCDXTRP DYNAMIC CREDIT FD-Z | 5.00% | $308.04M | 36.1M | $8.53 |
TRZFXTRP EMRG MKTS LOCAL CURR BD FD-Z | 4.60% | $283.25M | 56.3M | $5.03 |
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.
The 200 largest of 430 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| 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.
How it has done
RPSIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 2.56%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.61% | +6.23% | +20.59% | +10.05% | -4.31% | |
| 0.46% | +6.37% | +21.01% | +10.84% | -4.27% |
These classes hold the same portfolio, so the 0.80pp spread over 5 years is the cost difference between them — roughly 0.16pp a year — not a difference in what they own.
Fees & fund details
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
- Expense ratio, by class
- 0.46% – 0.61%· RPSIX 0.61%
- Portfolio turnover
- 88.40% a year · as of 2026 Q1
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
78 new· the largest 8
60 exited· the largest 8
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.
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — RPSIX, QQQ and the fund in my 401(k)?”
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