Expense Ratio History

RPIFX expense ratio history

T. Rowe Price Institutional Floating Rate Fund

Fund company
T. Rowe Price
Type
Mutual fund

0.57%

In basis points
57 basis points
Yearly cost per $10,000
$57
Prospectus dated
1 August 2025, filed with the SEC; rounded to 0.01%
Last change
Cut from 0.58% on 1 October 2022

Fee over time

RPIFX expense ratio: 0.55% until 1 Oct 2013, then 0.56%; 0.56% until 1 Oct 2017, then 0.57%; 0.57% until 1 Mar 2020, then 0.58%; 0.58% until 1 Oct 2022, then 0.57%; read at 0.57% on 1 Aug 2025.0.00%0.20%0.40%0.60%0.80%Sep 2011Jan 2014May 2016Sep 2018Jan 2021May 20230.55% before0.57% from 1 Oct 2022
RPIFX expense ratio: 0.55% until 1 Oct 2013, then 0.56%; 0.56% until 1 Oct 2017, then 0.57%; 0.57% until 1 Mar 2020, then 0.58%; 0.58% until 1 Oct 2022, then 0.57%; read at 0.57% on 1 Aug 2025.0.00%0.20%0.40%0.60%0.80%Sep 2011May 2016Jan 20210.55% before0.57% from 1 Oct 2022
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Share classes

The same fund is sold as 3 share classes, each with its own fee. Figures are from each class's latest prospectus in SEC filings, rounded to 0.01%.

TickerShare classFeeAfter waiversProspectus dated
RPIFX (this page) T. Rowe Price Institutional Floating Rate Fund 0.57% — 1 Aug 2025
PFFRX T. Rowe Price Institutional Floating Rate Fund-F Class 0.69% — 1 Aug 2025
TRAZX T. Rowe Price Institutional Floating Rate Fund-Z Class 0.57% 0.02% 1 Aug 2025

Every figure we've recorded

DateFeeWhat happened
1 Aug 2025 0.57% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-08-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Aug 2024 0.57% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-08-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2023 0.57% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2022 0.57% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2022 0.57% Cut from 0.58% to 0.57%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2022-09-29
1 Oct 2021 0.58% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Mar 2020 0.58% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-03-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Mar 2020 0.58% Raised from 0.57% to 0.58%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2020-03-12
1 Oct 2019 0.57% In the prospectusTotal annual fund operating expenses in the prospectus dated 2019-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2018 0.57% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2017 0.57% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2017 0.57% Raised from 0.56% to 0.57%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2017-10-17
1 Oct 2016 0.56% In the prospectusTotal annual fund operating expenses in the prospectus dated 2016-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2015 0.56% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2014 0.56% In the prospectusTotal annual fund operating expenses in the prospectus dated 2014-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2013 0.56% In the prospectusTotal annual fund operating expenses in the prospectus dated 2013-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2013 0.56% Raised from 0.55% to 0.56%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2013-10-18
1 Oct 2012 0.55% In the prospectusTotal annual fund operating expenses in the prospectus dated 2012-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Oct 2011 0.55% In the prospectusTotal annual fund operating expenses in the prospectus dated 2011-10-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 0.57% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$715 in fees over 10 years

After fees, $10,000 grows to $15,405.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$58
3 years$183
5 years$319
10 years$715

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 15 prospectuses for this share class since 2011. Each one is listed above with a link to the filing.

How we read fees

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