T. Rowe Price GNMA (PRGMX - Free Report) a Zacks Rank #2 (Buy) invests exclusively in securities that are backed by the full faith and credit of the U.S. government, primarily GNMA mortgage-backed securities, and investments linked to these securities.

The T. Rowe Price GNMA fund, managed by T. Rowe Price, carries an expense ratio of 0.59%. Moreover, PRGMX requires a minimal initial investment of $2,500.

PRGMX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 1, 3, 5 year benchmarks; 1 year 1.02%, 3 year 2.01% and 5 year 1.64%. To see how this fund performed compared in its category and other #1 and #2 Ranked Mutual Funds,please click here .

PRGMX’s performance, as of the last filing, when compared to funds in its category was in the top 44% in 1 year, top 43% over the past 3 years, and in the 49% over the past 5 years.