Morningstar

T. Rowe Price GNMA Fund I Class PRXAX

Morningstar Medalist Rating
Medalist Rating as of | See T. Rowe Price Investment Hub
  • NAV / 1-Day Return 7.75  /  −0.26 %
  • Total Assets 316.7M
  • Adj. Expense Ratio
    0.400%
  • Expense Ratio 0.400%
  • Distribution Fee Level Below Average
  • Share Class Type Institutional
  • Category Government Mortgage-Backed Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 500,000
  • Status Open
  • TTM Yield 4.18%
  • Effective Duration 5.08 years

USD | NAV as of Oct 03, 2026 | 1-Day Return as of Oct 03, 2026, 12:11 AM GMT+0

Morningstar’s Analysis PRXAX

Will PRXAX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PRXAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PRXAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of PRXAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

T. Rowe Price GNMA I holds a quantitatively derived Neutral Morningstar Medalist Rating. The rating suggests the model does not express a clear expectation of outperformance or underperformance relative to peers over a full market cycle.

by Morningstar Automated Analysis
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Portfolio Holdings PRXAX

More PRXAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 38.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

T. Rowe Price Gov. Reserve

8.31 28M
Cash and Equivalents

Government National Mortgage Association 5%

6.89 23M
Securitized

Government National Mortgage Association 5.5%

6.26 21M
Securitized

Government National Mortgage Association 2%

5.16 17M
Securitized

Government National Mortgage Association 2.5%

4.08 14M
Securitized

Government National Mortgage Association 2%

3.43 11M
Securitized

Government National Mortgage Association 2%

3.12 10M
Securitized

Government National Mortgage Association 2.5%

2.97 10M
Securitized

Government National Mortgage Association 2.5%

2.08 7M
Securitized

Government National Mortgage Association 3%

2.07 7M
Securitized

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