- ISIN
- US7795591038
- CUSIP
- 779559103
- Issuer
- T. Rowe Price
- Inception Date
- Jan 19, 1969
- Category
- Energy Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
PRNEX Performance Chart
T. Rowe Price New Era Fund (PRNEX) is up 23.3% since the beginning of the year. PRNEX is currently trading at $50 per share. Investors who bought $1,000 worth of PRNEX shares 5 years ago would now be looking at an investment worth $1,729.
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Returns By Period
T. Rowe Price New Era Fund (PRNEX) has returned 23.27% so far this year and 41.40% over the past 12 months. Over the last ten years, PRNEX has returned 8.96% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.
T. Rowe Price New Era Fund
- 1D
- 1.86%
- 1M
- -0.02%
- YTD
- 23.27%
- 6M
- 22.45%
- 1Y
- 41.40%
- 3Y*
- 17.07%
- 5Y*
- 11.57%
- 10Y*
- 8.96%
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%
PRNEX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1980, PRNEX's average daily return is +0.04%, while the average monthly return is +0.82%. At this rate, an investment would double in approximately 7.1 years.
Historically, 59% of months were positive and 41% were negative. The best month was May 2009 with a return of +18.4%, while the worst month was Jan 1982 at -27.3%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 8 months.
On a daily basis, PRNEX closed higher 52% of trading days. The best single day was Oct 13, 2008 with a return of +16.8%, while the worst single day was Jan 11, 1982 at -24.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 11.53% | 8.12% | -0.08% | 3.24% | -3.15% | 2.34% | 23.27% | ||||||
| 2025 | 3.34% | 0.44% | 1.01% | -6.60% | 3.68% | 4.27% | 0.99% | 4.96% | 2.69% | 0.30% | 2.35% | 0.46% | 18.85% |
| 2024 | -2.63% | 2.62% | 9.41% | -0.81% | 2.28% | -3.41% | 2.58% | -0.49% | 0.15% | -0.91% | 5.27% | -8.60% | 4.41% |
| 2023 | 5.08% | -5.23% | -0.66% | 1.40% | -7.90% | 7.40% | 6.99% | -2.20% | -1.43% | -4.47% | 1.49% | 1.81% | 1.02% |
| 2022 | 1.40% | 0.39% | 6.20% | -5.29% | 6.97% | -13.88% | 6.43% | 1.09% | -8.80% | 12.43% | 7.36% | -4.11% | 7.14% |
| 2021 | -0.77% | 7.35% | 3.71% | 3.58% | 3.29% | -2.00% | -0.45% | 1.20% | -1.10% | 7.22% | -3.69% | 5.18% | 25.35% |
Benchmark Metrics
T. Rowe Price New Era Fund has an annualized alpha of 0.58%, beta of 0.88, and R2 of 0.54 versus S&P 500 Index. Calculated based on daily prices since January 03, 1980.
- This fund participated in 100.51% of S&P 500 Index downside but only 93.57% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.88 and R2 of 0.54, 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
- 0.58%
- Beta
- 0.88
- R²
- 0.54
- Upside Capture
- 93.57%
- Downside Capture
- 100.51%
Expense Ratio
PRNEX has an expense ratio of 0.56%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PRNEX ranks 89 for risk / return — in the top 89% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price New Era Fund (PRNEX) and compare them to S&P 500 Index.
| PRNEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.41 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 8.70 | 2.93 | +5.77 |
| Martin ratioReturn relative to average drawdown | 26.94 | 13.52 | +13.42 |
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 New Era Fund provided a 7.33% dividend yield over the last twelve months, with an annual payout of $3.66 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $3.66 | $3.66 | $1.79 | $4.27 | $1.84 | $0.83 | $0.83 | $0.75 | $0.51 | $0.69 | $0.43 | $0.73 |
Dividend yield | 7.33% | 9.04% | 4.81% | 11.46% | 4.47% | 2.07% | 2.54% | 2.18% | 1.69% | 1.89% | 1.28% | 2.68% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price New Era 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 | $3.66 | $3.66 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.79 | $1.79 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.27 | $4.27 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.84 | $1.84 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.83 | $0.83 |
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 New Era 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 New Era Fund was 66.56%, occurring on Nov 20, 2008. Recovery took 3307 trading sessions.
The current T. Rowe Price New Era Fund drawdown is 0.89%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -66.56%Nov 2008 | 6mo 3d | 13y 1mo | 13y 7moMay 2008 - Jan 2022 |
1982 bear market1982 | -58.21%Aug 1982 | 1y 8mo | 4y 7mo | 6y 3moDec 1980 - Mar 1987 |
Black Monday1987 | -32.06%Oct 1987 | 20d | 1y 8mo | 1y 9moOct 1987 - Jul 1989 |
1998 bear market1998 | -31.45%Aug 1998 | 3mo 28d | 11mo 15d | 1y 3moMay 1998 - Aug 1999 |
Dot-com crash2000–2002 | -29.77%Oct 2002 | 1y 4mo | 1y 2mo | 2y 6moMay 2001 - Dec 2003 |
Drawdown Indicators
| PRNEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.56% | -56.78% | -9.78% |
Max Drawdown (1Y)Largest decline over 1 year | -4.90% | -9.10% | +4.20% |
Max Drawdown (3Y)Largest decline over 3 years | -20.19% | -18.90% | -1.29% |
Max Drawdown (5Y)Largest decline over 5 years | -21.50% | -25.43% | +3.93% |
Max Drawdown (10Y)Largest decline over 10 years | -49.64% | -33.92% | -15.72% |
Current DrawdownCurrent decline from peak | -0.89% | -0.74% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -16.30% | -10.72% | -5.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 1.97% | -0.39% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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