# T. Rowe Price Floating Rate Fund, Inc. (PRFRX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/prfrx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: T. Rowe Price · Asset class: Equity - Strategy: Actively Managed · Inception: 2011-08-01 This fund ordinarily deploys a minimum of 80% of its total assets (including any capital obtained through borrowing for investment) into debt instruments with variable interest rates. These floating rate loans represent funds extended by financial institutions and other lenders to corporate borrowers or various entities. The vast majority, if not all, of the loans held by the fund are either classified as below investment grade (typically rated below BBB or an equivalent, often colloquially known as “junk” due to higher risk) or lack an official credit rating from recognized agencies. ## Key Facts | Metric | Value | |---|---| | Price | $8.97 | | Expense Ratio | 0.76% | | Assets Under Management | $4.02B | | NAV | $8.97 | | Holdings Count | — | | Distribution Yield (TTM) | 7.29% | | Annual Distribution (TTM) | $0.65 /share | | Distribution Frequency | Monthly | | 52-Week Range | $8.97 – $9.26 | | Beta | 0.06 | ## Latest Distribution - Amount: $0.0509 /share - Ex-date: 2026-09-29 - Pay date: 2026-09-30 ## Frequently Asked Questions ### What does PRFRX invest in? This fund ordinarily deploys a minimum of 80% of its total assets (including any capital obtained through borrowing for investment) into debt instruments with variable interest rates. These floating rate loans represent funds extended by financial institutions and other lenders to corporate borrowers or various entities. The vast majority, if not all, of the loans held by the fund are either classified as below investment grade (typically rated below BBB or an equivalent, often colloquially known as “junk” due to higher risk) or lack an official credit rating from recognized agencies. ### What is the expense ratio of PRFRX? T. Rowe Price Floating Rate Fund, Inc. (PRFRX) charges an expense ratio of 0.76%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is PRFRX? T. Rowe Price Floating Rate Fund, Inc. (PRFRX) manages $4.02B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is PRFRX actively managed or an index fund? PRFRX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (PRFRX's is 0.76%) in exchange for the discretion to over- or under-weight positions. ### When was PRFRX launched? T. Rowe Price Floating Rate Fund, Inc. (PRFRX) launched in August 2011 and is managed by T. Rowe Price. ### How has PRFRX performed? PRFRX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does PRFRX pay a dividend? T. Rowe Price Floating Rate Fund, Inc. (PRFRX) currently distributes little or no income. Trailing-twelve-month yield is 7.29%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does PRFRX pay dividends? T. Rowe Price Floating Rate Fund, Inc. pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is PRFRX's dividend yield? PRFRX's trailing-twelve-month yield is 7.29%, calculated from the sum of dividends over the past year divided by the current price. ### When is PRFRX's next ex-dividend date? The most recently announced ex-dividend date for PRFRX was 2026-09-29. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will PRFRX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.76% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does PRFRX charge its expense ratio? The expense ratio is deducted in tiny daily slices from PRFRX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does PRFRX cost more than a fund like VOO? PRFRX is actively managed (current expense ratio 0.76%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether PRFRX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to PRFRX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as PRFRX (0.76%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/prfrx - Distribution history: https://www.dividenddata.com/funds/prfrx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/prfrx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/prfrx/expenses - Peer comparison: https://www.dividenddata.com/funds/prfrx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.