T. Rowe Price Tax-Efficient Equity Fund (PREFX)

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The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Tax-Efficient Equity Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

T. Rowe Price Tax-Efficient Equity Fund (PREFX) has returned -12.80% so far this year and 11.92% over the past 12 months. Looking at the last ten years, PREFX has achieved an annualized return of 14.55%, outperforming the S&P 500 Index benchmark, which averaged 12.16% per year.

Based on dividend-adjusted daily data since Jan 2, 2001, PREFX's average daily return is +0.05%, while the average monthly return is +0.90%. At this rate, your investment would double in approximately 6.4 years.

Historically, 60% of months were positive and 40% were negative. The best month was Jan 2001 with a return of +16.0%, while the worst month was Oct 2008 at -20.9%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 6 months.

On a daily basis, PREFX closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +12.3%, while the worst single day was Mar 16, 2020 at -12.8%.

T. Rowe Price Tax-Efficient Equity Fund has an annualized alpha of 2.67%, beta of 1.08, and R² of 0.90 versus S&P 500 Index. Calculated based on daily prices since January 03, 2001.

• This fund captured 120.88% of S&P 500 Index gains and 105.53% of its losses — amplifying both gains and losses, but participating more in upside than downside.
• This fund generated an annualized alpha of 2.67% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
• With beta of 1.08 and R² of 0.90, this fund moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.

PREFX has an expense ratio of 0.76%, placing it in the medium range.

PREFX ranks 22 for risk / return — below 22% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for T. Rowe Price Tax-Efficient Equity Fund (PREFX) and compare them to a chosen benchmark (S&P 500 Index).

T. Rowe Price Tax-Efficient Equity Fund provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.

The table displays the monthly dividend distributions for T. Rowe Price Tax-Efficient Equity Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the T. Rowe Price Tax-Efficient Equity 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 Tax-Efficient Equity Fund was 56.70%, occurring on Nov 20, 2008. Recovery took 608 trading sessions.

The current T. Rowe Price Tax-Efficient Equity Fund drawdown is 16.18%.

The chart below shows the rolling one-month volatility.