Shareholder Report | 12 Months Ended |
May 31, 2024 USD ($) Holding |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | T. ROWE PRICE SHORT-TERM BOND FUND, INC. |
Entity Central Index Key | 0000731890 |
Entity Investment Company Type | N-1A |
Document Period End Date | May 31, 2024 |
C000222039 | |
Shareholder Report [Line Items] | |
Fund Name | Short Duration Income Fund |
Class Name | I Class |
Trading Symbol | (TSIDX) |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find the funds prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information at |
Expenses [Text Block] | What were the fund costs for the last year? Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Short Duration Income Fund - I Class $31 0.30% |
Expenses Paid, Amount | $ 31 |
Expense Ratio, Percent | 0.30% |
Factors Affecting Performance [Text Block] | What drove fund performance during the past 12 months? The shorter-maturity U.S. investment-grade bond market generated positive returns over the 12-month period ended May 31, 2024, largely lifted by declining interest rates and tighter credit spreads near the end of 2023. Corporate bonds and securitized credit generated positive excess returns during the rally and the broader reporting period. The funds out-of-benchmark allocations to emerging markets debt and securitized sectorsasset-backed securities (ABS), collateralized loan obligations (CLOs), commercial mortgage-backed securities, and residential mortgage-backed securitiesaided relative performance versus its style-specific benchmark, the Bloomberg 13 Year U.S. Corporate Bond Index. Security selection among investment-grade and high yield corporate bonds further added to relative gains. Additionally, the portfolios slightly shorter-than-benchmark average duration position helped relative performance as U.S. Treasury note and bond yields ended the period higher. Out-of-benchmark holdings of U.S. Treasuries hindered performance relative to the funds style-specific benchmark, as corporate credit spreads tightened. The funds allocation to corporate debt decreased but continued to represent the portfolios largest absolute position. As corporate bond valuations tightened early in the period, we focused on additions in ABS. We also added CLOs during the period as spreads tightened elsewhere in fixed income markets. While we are primarily a cash bond manager, we occasionally employ the limited use of derivatives in our strategy for hedging purposes. Derivatives may include futures and options, as well as credit default and interest rate swaps. During the reporting period, our use of derivatives, particularly Treasury futures, detracted modestly from absolute performance. |
Average Annual Return [Table Text Block] | Average Annual Total Returns 1 Year Since Inception 12/8/2020 Short Duration Income Fund (I Class) 5.88 % 1.05 % Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) 1.31 - Bloomberg 1-3 Year U.S. Corporate Bond Index (Strategy Benchmark) 5.21 0.98 The preceding line graph shows the value of a hypothetical $500,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The funds performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). Due to new SEC Rules on shareholder reporting the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Market index returns do not include expenses, which are deducted from fund returns. The fund's total return figures reflect the reinvestment of dividends and capital gains, if any. Neither the funds returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares. The funds past performance is not a good predictor of the funds future performance. www.troweprice.com |
AssetsNet | $ 54,942,000 |
Holdings Count | Holding | 381 |
Advisory Fees Paid, Amount | $ (165,000) |
InvestmentCompanyPortfolioTurnover | 88.70% |
Additional Fund Statistics [Text Block] | What are some fund statistics? Fund Statistics Total Net Assets (000s) $54,942 Number of Portfolio Holdings 381 |
Holdings [Text Block] | Credit Quality Allocation* AAA Rated 18.5 % AA Rated 10.2 A Rated 17.9 BBB Rated 23.0 BB Rated and Below 6.9 Not Rated 5.7 U.S. Treasury Securities 14.3 U.S. Government Agency Securities 4.1 Reserves -0.6 *Credit ratings for the securities held in the Fund are provided by Moodys, Standard & Poors, and Fitch and are converted to the Standard & Poors nomenclature. A rating of AAA represents the highest-rated securities, and a rating of D represents the lowest rated securities. If the ratings agencies differ, the highest rating is applied to the security. If a rating is not available, the security is classified as Not Rated. The rating of the underlying investment vehicle is used to determine the creditworthiness of credit default swaps and sovereign securities. The Fund is not rated by any agency. |
Largest Holdings [Text Block] | Top Ten Holdings U.S. Treasury Notes 13.3 % Federal National Mortgage Assn. 2.0 Federal Home Loan Banks 1.2 U.S. Treasury Inflation-Indexed Notes 1.0 Octane Receivables Trust 1.0 UMBS 1.0 Crown Castle 1.0 VF 0.9 Ford Credit Auto Lease Trust 0.9 Verus Securitization Trust 0.8 |
Material Fund Change [Text Block] | |
C000222038 | |
Shareholder Report [Line Items] | |
Fund Name | Short Duration Income Fund |
Class Name | Investor Class |
Trading Symbol | (TSDLX) |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find the funds prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information at |
Expenses [Text Block] | What were the fund costs for the last year? Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Short Duration Income Fund - Investor Class $42 0.41% |
Expenses Paid, Amount | $ 42 |
Expense Ratio, Percent | 0.41% |
Factors Affecting Performance [Text Block] | What drove fund performance during the past 12 months? The shorter-maturity U.S. investment-grade bond market generated positive returns over the 12-month period ended May 31, 2024, largely lifted by declining interest rates and tighter credit spreads near the end of 2023. Corporate bonds and securitized credit generated positive excess returns during the rally and the broader reporting period. The funds out-of-benchmark allocations to emerging markets debt and securitized sectorsasset-backed securities (ABS), collateralized loan obligations (CLOs), commercial mortgage-backed securities, and residential mortgage-backed securitiesaided relative performance versus its style-specific benchmark, the Bloomberg 13 Year U.S. Corporate Bond Index. Security selection among investment-grade and high yield corporate bonds further added to relative gains. Additionally, the portfolios slightly shorter-than-benchmark average duration position helped relative performance as U.S. Treasury note and bond yields ended the period higher. Out-of-benchmark holdings of U.S. Treasuries hindered performance relative to the funds style-specific benchmark, as corporate credit spreads tightened. The funds allocation to corporate debt decreased but continued to represent the portfolios largest absolute position. As corporate bond valuations tightened early in the period, we focused on additions in ABS. We also added CLOs during the period as spreads tightened elsewhere in fixed income markets. While we are primarily a cash bond manager, we occasionally employ the limited use of derivatives in our strategy for hedging purposes. Derivatives may include futures and options, as well as credit default and interest rate swaps. During the reporting period, our use of derivatives, particularly Treasury futures, detracted modestly from absolute performance. |
Average Annual Return [Table Text Block] | Average Annual Total Returns 1 Year Since Inception 12/8/2020 Short Duration Income Fund (Investor Class) 5.66 % 0.95 % Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) 1.31 - Bloomberg 1-3 Year U.S. Corporate Bond Index (Strategy Benchmark) 5.21 0.98 The preceding line graph shows the value of a hypothetical $10,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The funds performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). Due to new SEC Rules on shareholder reporting the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Market index returns do not include expenses, which are deducted from fund returns. The fund's total return figures reflect the reinvestment of dividends and capital gains, if any. Neither the funds returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares. The funds past performance is not a good predictor of the funds future performance. www.troweprice.com |
AssetsNet | $ 54,942,000 |
Holdings Count | Holding | 381 |
Advisory Fees Paid, Amount | $ (165,000) |
InvestmentCompanyPortfolioTurnover | 88.70% |
Additional Fund Statistics [Text Block] | What are some fund statistics? Fund Statistics Total Net Assets (000s) $54,942 Number of Portfolio Holdings 381 |
Holdings [Text Block] | Credit Quality Allocation* AAA Rated 18.5 % AA Rated 10.2 A Rated 17.9 BBB Rated 23.0 BB Rated and Below 6.9 Not Rated 5.7 U.S. Treasury Securities 14.3 U.S. Government Agency Securities 4.1 Reserves -0.6 *Credit ratings for the securities held in the Fund are provided by Moodys, Standard & Poors, and Fitch and are converted to the Standard & Poors nomenclature. A rating of AAA represents the highest-rated securities, and a rating of D represents the lowest rated securities. If the ratings agencies differ, the highest rating is applied to the security. If a rating is not available, the security is classified as Not Rated. The rating of the underlying investment vehicle is used to determine the creditworthiness of credit default swaps and sovereign securities. The Fund is not rated by any agency. |
Largest Holdings [Text Block] | Top Ten Holdings U.S. Treasury Notes 13.3 % Federal National Mortgage Assn. 2.0 Federal Home Loan Banks 1.2 U.S. Treasury Inflation-Indexed Notes 1.0 Octane Receivables Trust 1.0 UMBS 1.0 Crown Castle 1.0 VF 0.9 Ford Credit Auto Lease Trust 0.9 Verus Securitization Trust 0.8 |
Material Fund Change [Text Block] | |