Fund info

T. Rowe Price QM U.S. Bond Index Fund is an intermediate core bond mutual fund designed to closely replicate or modestly exceed the performance of the U.S. investment-grade bond market. Its primary objective is to provide a total return that aligns with its benchmark, the Bloomberg U.S. Aggregate Bond Index, which represents a broad spectrum of U.S. dollar-denominated, fixed-rate, investment-grade bonds including government, agency, mortgage- and asset-backed, and corporate bonds. The fund employs a quantitative, index-oriented strategy but may make incremental adjustments to optimize returns net of expenses, while maintaining a cost advantage with a low expense ratio. It typically maintains high credit quality with moderate interest rate sensitivity, reflected in a weighted average duration around six to nine years. The fund holds a large, diversified portfolio with a significant portion in U.S. Treasuries and government-backed securities, offering investors exposure to the core of the domestic fixed income market. Established in 2000, it plays a key role for investors seeking broad, passive exposure to U.S. investment-grade bonds for diversification and income within a balanced portfolio.