- ISIN
- US45775L1017
- Issuer
- T. Rowe Price
- Inception Date
- Jul 31, 1996
- Category
- Mid Cap Growth Equities
- Min. Investment
- $1,000,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Growth
Share Price Chart
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Performance
PMEGX Performance Chart
T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) is up 2.3% since the beginning of the year. PMEGX is currently trading at $53 per share. Investors who bought $1,000 worth of PMEGX shares 5 years ago would now be looking at an investment worth $1,179.
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Returns By Period
T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) has returned 2.26% so far this year and 7.81% over the past 12 months. Over the last ten years, PMEGX has returned 10.07% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.
T. Rowe Price Institutional Mid Cap Equity Growth Fund
- 1D
- -0.21%
- 1M
- 1.77%
- YTD
- 2.26%
- 6M
- 1.73%
- 1Y
- 7.81%
- 3Y*
- 8.90%
- 5Y*
- 3.35%
- 10Y*
- 10.07%
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
PMEGX Monthly Returns History
Based on dividend-adjusted daily data since Jul 30, 1996, PMEGX's average daily return is +0.05%, while the average monthly return is +0.99%. At this rate, an investment would double in approximately 5.9 years.
Historically, 60% of months were positive and 40% were negative. The best month was Apr 2020 with a return of +15.8%, while the worst month was Oct 2008 at -22.8%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.
On a daily basis, PMEGX closed higher 54% of trading days. The best single day was Oct 13, 2008 with a return of +11.1%, while the worst single day was Mar 16, 2020 at -12.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.35% | 2.52% | -6.72% | 5.47% | 1.22% | -0.19% | 2.26% | ||||||
| 2025 | 4.30% | -5.68% | -5.68% | -0.55% | 5.22% | 4.22% | 0.74% | 1.18% | -0.18% | -0.05% | 1.24% | -0.43% | 3.73% |
| 2024 | -0.06% | 5.92% | 2.57% | -5.94% | 1.46% | -0.09% | 3.04% | 1.73% | 1.22% | -1.79% | 7.37% | -5.74% | 9.15% |
| 2023 | 8.30% | -2.21% | 1.42% | -1.07% | -0.91% | 7.51% | 3.59% | -3.13% | -5.09% | -5.66% | 10.45% | 7.42% | 20.69% |
| 2022 | -11.04% | -1.70% | 1.11% | -9.16% | -1.06% | -7.06% | 9.73% | -4.64% | -8.33% | 6.40% | 7.18% | -4.91% | -23.19% |
| 2021 | -0.43% | 2.37% | 1.16% | 4.46% | -1.06% | 3.29% | 2.03% | 2.37% | -4.13% | 4.46% | -2.49% | 2.88% | 15.50% |
Benchmark Metrics
T. Rowe Price Institutional Mid Cap Equity Growth Fund has an annualized alpha of 2.51%, beta of 0.98, and R2 of 0.82 versus S&P 500 Index. Calculated based on daily prices since July 31, 1996.
- This fund captured 110.42% of S&P 500 Index gains and 100.82% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This fund generated an annualized alpha of 2.51% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 0.98 and R2 of 0.82, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 2.51%
- Beta
- 0.98
- R²
- 0.82
- Upside Capture
- 110.42%
- Downside Capture
- 100.82%
Expense Ratio
PMEGX has an expense ratio of 0.61%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PMEGX ranks 9 for risk / return — in the bottom 9% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) and compare them to S&P 500 Index.
| PMEGX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.41 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 2.93 | -2.05 |
| Martin ratioReturn relative to average drawdown | 3.03 | 13.52 | -10.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
T. Rowe Price Institutional Mid Cap Equity Growth Fund provided a 20.63% dividend yield over the last twelve months, with an annual payout of $10.93 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $10.93 | $10.93 | $8.55 | $4.45 | $0.92 | $9.46 | $3.22 | $3.12 | $5.03 | $3.43 | $0.48 | $2.68 |
Dividend yield | 20.63% | 21.10% | 14.15% | 7.07% | 1.65% | 12.80% | 4.44% | 5.11% | 10.42% | 6.30% | 1.04% | 6.18% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Institutional Mid Cap Equity Growth Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $10.93 | $10.93 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $8.55 | $8.55 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.45 | $4.45 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.92 | $0.92 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $9.46 | $9.46 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Institutional Mid Cap Equity Growth Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price Institutional Mid Cap Equity Growth Fund was 55.88%, occurring on Nov 20, 2008. Recovery took 492 trading sessions.
The current T. Rowe Price Institutional Mid Cap Equity Growth Fund drawdown is 6.90%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -55.88%Nov 2008 | 1y 1mo | 1y 11mo | 3y 25dOct 2007 - Nov 2010 |
Dot-com crash2000–2002 | -45.08%Oct 2002 | 2y 1mo | 2y 26d | 4y 2moSep 2000 - Nov 2004 |
COVID crash2020 | -37.16%Mar 2020 | 1mo 2d | 4mo 13d | 5mo 15dFeb 2020 - Aug 2020 |
Bear market2022 | -32.87%Oct 2022 | 11mo 1d | 2y 24d | 2y 11moNov 2021 - Nov 2024 |
1998 bear market1998 | -32.81%Oct 1998 | 2mo 23d | 3mo | 5mo 23dJul 1998 - Jan 1999 |
Drawdown Indicators
| PMEGX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.88% | -56.78% | +0.90% |
Max Drawdown (1Y)Largest decline over 1 year | -10.21% | -9.10% | -1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -27.99% | -18.90% | -9.09% |
Max Drawdown (5Y)Largest decline over 5 years | -32.87% | -25.43% | -7.44% |
Max Drawdown (10Y)Largest decline over 10 years | -37.16% | -33.92% | -3.24% |
Current DrawdownCurrent decline from peak | -6.90% | -0.74% | -6.16% |
Average DrawdownAverage peak-to-trough decline | -9.01% | -10.72% | +1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 1.97% | +0.99% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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