- ISIN
- US7795471082
- CUSIP
- 779547108
- Issuer
- T. Rowe Price
- Inception Date
- Oct 31, 1985
- Category
- Large Cap Value Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
PRFDX Performance Chart
T. Rowe Price Equity Income Fund (PRFDX) is up 13.6% since the beginning of the year. PRFDX is currently trading at $44 per share. Investors who bought $1,000 worth of PRFDX shares 5 years ago would now be looking at an investment worth $1,653.
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Returns By Period
T. Rowe Price Equity Income Fund (PRFDX) has returned 13.61% so far this year and 24.39% over the past 12 months. Over the last ten years, PRFDX has returned 12.24% per year, falling short of the S&P 500 Index benchmark, which averaged 13.71% annually.
T. Rowe Price Equity Income Fund
- 1D
- 0.14%
- 1M
- 1.48%
- YTD
- 13.61%
- 6M
- 13.25%
- 1Y
- 24.39%
- 3Y*
- 17.01%
- 5Y*
- 10.57%
- 10Y*
- 12.24%
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
PRFDX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1986, PRFDX's average daily return is +0.04%, while the average monthly return is +0.88%. At this rate, an investment would double in approximately 6.6 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2020 with a return of +16.4%, while the worst month was Mar 2020 at -17.7%. The longest winning streak lasted 19 consecutive months, and the longest losing streak was 5 months.
On a daily basis, PRFDX closed higher 53% of trading days. The best single day was Oct 28, 2008 with a return of +10.0%, while the worst single day was Mar 16, 2020 at -12.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.73% | 2.52% | -5.17% | 7.93% | 2.53% | 1.79% | 13.61% | ||||||
| 2025 | 4.56% | 0.99% | -1.49% | -4.43% | 3.90% | 2.85% | -0.79% | 4.23% | 0.43% | -0.45% | 2.16% | 2.14% | 14.60% |
| 2024 | -0.21% | 3.96% | 4.89% | -2.99% | 3.56% | -1.22% | 3.86% | 2.09% | 0.76% | -1.25% | 4.95% | -6.45% | 11.85% |
| 2023 | 5.57% | -3.65% | -2.32% | 2.20% | -5.18% | 6.52% | 4.16% | -3.91% | -3.26% | -2.54% | 7.42% | 5.56% | 9.75% |
| 2022 | 0.97% | 0.00% | 1.59% | -5.33% | 2.99% | -8.40% | 5.08% | -1.80% | -9.35% | 10.42% | 6.64% | -4.12% | -3.25% |
| 2021 | -0.38% | 6.65% | 6.72% | 4.11% | 2.80% | -2.38% | -0.63% | 2.36% | -2.69% | 4.34% | -3.63% | 6.54% | 25.60% |
Benchmark Metrics
T. Rowe Price Equity Income Fund has an annualized alpha of 2.47%, beta of 0.79, and R2 of 0.79 versus S&P 500 Index. Calculated based on daily prices since January 02, 1986.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (85.75%) than losses (81.38%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 2.47% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 2.47%
- Beta
- 0.79
- R²
- 0.79
- Upside Capture
- 85.75%
- Downside Capture
- 81.38%
Expense Ratio
PRFDX has an expense ratio of 0.63%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PRFDX ranks 74 for risk / return — better than 74% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Equity Income Fund (PRFDX) 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.
| PRFDX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.32 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 2.46 | +1.01 |
| Martin ratioReturn relative to average drawdown | 12.86 | 10.92 | +1.94 |
Dividends
Dividend History
T. Rowe Price Equity Income Fund provided a 2.40% dividend yield over the last twelve months, with an annual payout of $1.05 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.05 | $1.07 | $3.09 | $2.08 | $2.16 | $3.16 | $1.11 | $4.02 | $3.12 | $2.99 | $2.44 | $2.13 |
Dividend yield | 2.40% | 2.76% | 8.91% | 6.19% | 6.61% | 8.78% | 3.55% | 12.53% | 11.43% | 8.97% | 7.75% | 7.48% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Equity 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 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.00 | $0.09 | ||||||
| 2025 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.62 | $1.07 |
| 2024 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $2.56 | $3.09 |
| 2023 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $1.57 | $2.08 |
| 2022 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $1.70 | $2.16 |
| 2021 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $2.70 | $3.16 |
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 Equity 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 Equity Income Fund was 58.12%, occurring on Mar 9, 2009. Recovery took 888 trading sessions.
The current T. Rowe Price Equity Income Fund drawdown is 0.52%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -58.12%Mar 2009 | 1y 7mo | 3y 6mo | 5y 2moJul 2007 - Sep 2012 |
COVID crash2020 | -39.71%Mar 2020 | 2mo 2d | 9mo 19d | 11mo 21dJan 2020 - Jan 2021 |
Dot-com crash2000–2002 | -29.48%Oct 2002 | 6mo 23d | 1y 2mo | 1y 9moMar 2002 - Dec 2003 |
Black Monday1987 | -27.86%Dec 1987 | 3mo 23d | 1y 4mo | 1y 8moAug 1987 - May 1989 |
2000 bear market2000 | -22.37%Feb 2000 | 7mo 11d | 9mo 14d | 1y 4moJul 1999 - Dec 2000 |
Drawdown Indicators
| PRFDX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.12% | -56.78% | -1.34% |
Max Drawdown (1Y)Largest decline over 1 year | -7.34% | -9.10% | +1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -14.35% | -18.90% | +4.55% |
Max Drawdown (5Y)Largest decline over 5 years | -18.08% | -25.43% | +7.35% |
Max Drawdown (10Y)Largest decline over 10 years | -39.71% | -33.92% | -5.79% |
Current DrawdownCurrent decline from peak | -0.52% | -3.21% | +2.69% |
Average DrawdownAverage peak-to-trough decline | -6.25% | -10.71% | +4.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.04% | -0.07% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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