- CUSIP
- 77954M402
- Issuer
- T. Rowe Price
- Inception Date
- Nov 29, 2023
- Category
- Diversified Portfolio
- Min. Investment
- $2,500
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
PRCFX Performance Chart
T. Rowe Price Capital Appreciation and Income Fund (PRCFX) is up 2.9% since the beginning of the year. PRCFX is currently trading at $30 per share.
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Returns By Period
T. Rowe Price Capital Appreciation and Income Fund (PRCFX) has returned 2.93% so far this year and 7.90% over the past 12 months.
T. Rowe Price Capital Appreciation and Income Fund
- 1D
- 0.71%
- 1M
- -0.37%
- 6M
- 2.82%
- YTD
- 2.93%
- 1Y
- 7.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.84%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
PRCFX Monthly Returns History
Based on dividend-adjusted daily data since Nov 30, 2023, PRCFX's average daily return is +0.04%, while the average monthly return is +0.77%. At this rate, an investment would double in approximately 7.5 years.
Historically, 73% of months were positive and 27% were negative. The best month was Apr 2026 with a return of +4.2%, while the worst month was Mar 2026 at -2.8%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 2 months.
On a daily basis, PRCFX closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +3.7%, while the worst single day was Apr 4, 2025 at -2.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.11% | 0.41% | -2.83% | 4.16% | 1.73% | -0.32% | -0.23% | 2.93% | |||||
| 2025 | 1.84% | 0.07% | -1.76% | 0.38% | 2.21% | 2.75% | 1.01% | 1.05% | 1.46% | 1.51% | 0.72% | -0.44% | 11.26% |
| 2024 | 0.42% | 1.56% | 1.19% | -2.26% | 2.13% | 1.61% | 1.86% | 1.60% | 1.24% | -1.51% | 2.61% | -1.86% | 8.76% |
| 2023 | 0.00% | 3.10% | 3.10% |
Benchmark Metrics
T. Rowe Price Capital Appreciation and Income Fund has an annualized alpha of 2.15%, beta of 0.38, and R2 of 0.81 versus S&P 500 Index. Calculated based on daily prices since November 30, 2023.
- This fund participated in 46.89% of S&P 500 Index downside but only 43.58% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 2.15% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.38 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.15%
- Beta
- 0.38
- R²
- 0.81
- Upside Capture
- 43.58%
- Downside Capture
- 46.89%
Expense Ratio
PRCFX has an expense ratio of 0.65%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PRCFX ranks 42 for risk / return — above 42% of mutual funds peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Capital Appreciation and Income Fund (PRCFX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PRCFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.25 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 2.00 | -0.36 |
| Martin ratioReturn relative to average drawdown | 7.60 | 8.49 | -0.89 |
Dividends
Dividend History
T. Rowe Price Capital Appreciation and Income Fund provided a 2.87% dividend yield over the last twelve months, with an annual payout of $0.86 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.86 | $0.86 | $0.83 | $0.07 |
Dividend yield | 2.87% | 2.94% | 3.08% | 0.26% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Capital Appreciation and Income 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 | $0.06 | $0.06 | $0.07 | $0.06 | $0.00 | $0.06 | $0.00 | $0.32 | |||||
| 2025 | $0.00 | $0.00 | $0.05 | $0.06 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.06 | $0.27 | $0.86 |
| 2024 | $0.04 | $0.06 | $0.00 | $0.06 | $0.07 | $0.08 | $0.07 | $0.07 | $0.08 | $0.06 | $0.07 | $0.18 | $0.83 |
| 2023 | $0.07 | $0.07 |
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 Capital Appreciation and Income 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 Capital Appreciation and Income Fund was 6.57%, occurring on Apr 8, 2025. Recovery took 26 trading sessions.
The current T. Rowe Price Capital Appreciation and Income Fund drawdown is 1.03%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-6.57%Apr 2025 | 4mo 4d | 1mo 7d | 5mo 11dDec 2024 - May 2025 | 2025 selloff2025 |
-4.50%Mar 2026 | 28d | 18d | 1mo 16dFeb 2026 - Apr 2026 | — |
-2.64%Apr 2024 | 18d | 26d | 1mo 14dApr 2024 - May 2024 | — |
-2.39%Nov 2024 | 11d | 6d | 17dOct 2024 - Nov 2024 | — |
-2.06%Jun 2026 | 9d | 26d | 1mo 5dJun 2026 - Jul 2026 | — |
Drawdown Indicators
| PRCFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.57% | -56.78% | +50.21% |
Max Drawdown (1Y)Largest decline over 1 year | -4.50% | -9.10% | +4.60% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.03% | -1.58% | +0.55% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -10.70% | +10.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 2.14% | -1.17% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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