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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price New Era Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
T. Rowe Price New Era Fund (PRNEX) has returned 19.15% so far this year and 44.27% over the past 12 months. Over the last ten years, PRNEX has returned 10.12% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
T. Rowe Price New Era Fund
- 1D
- -1.11%
- 1M
- -1.19%
- YTD
- 19.15%
- 6M
- 31.26%
- 1Y
- 44.27%
- 3Y*
- 17.27%
- 5Y*
- 14.17%
- 10Y*
- 10.12%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Jan 2, 1980, PRNEX's average daily return is +0.04%, while the average monthly return is +0.83%. At this rate, your investment would double in approximately 7.0 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% | -1.19% | 19.15% | |||||||||
| 2025 | 3.34% | 0.44% | 1.01% | -6.60% | 3.68% | 4.27% | 0.99% | 4.96% | 2.69% | 0.30% | 2.35% | 7.31% | 26.94% |
| 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 0.99%, 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 99.61% of S&P 500 Index downside but only 94.84% 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
- 0.99%
- Beta
- 0.88
- R²
- 0.54
- Upside Capture
- 94.84%
- Downside Capture
- 99.61%
Expense Ratio
PRNEX has an expense ratio of 0.56%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PRNEX ranks 93 for risk / return — in the top 93% 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 a chosen benchmark (S&P 500 Index).
| PRNEX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.23 | 0.90 | +1.33 |
Sortino ratioReturn per unit of downside risk | 2.80 | 1.39 | +1.41 |
Omega ratioGain probability vs. loss probability | 1.45 | 1.21 | +0.24 |
Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.40 | +1.27 |
Martin ratioReturn relative to average drawdown | 12.65 | 6.61 | +6.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore PRNEX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
T. Rowe Price New Era Fund provided a 12.94% dividend yield over the last twelve months, with an annual payout of $6.25 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $6.25 | $6.25 | $1.79 | $4.27 | $1.84 | $0.83 | $0.83 | $0.75 | $0.51 | $0.69 | $0.43 | $0.73 |
Dividend yield | 12.94% | 15.41% | 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 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.25 | $6.25 |
| 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 2.25%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -66.56% | May 21, 2008 | 129 | Nov 20, 2008 | 3307 | Jan 11, 2022 | 3436 |
| -58.21% | Dec 1, 1980 | 430 | Aug 12, 1982 | 1158 | Mar 12, 1987 | 1588 |
| -32.06% | Oct 6, 1987 | 15 | Oct 26, 1987 | 433 | Jul 13, 1989 | 448 |
| -31.45% | May 5, 1998 | 83 | Aug 31, 1998 | 238 | Aug 11, 1999 | 321 |
| -29.77% | May 22, 2001 | 346 | Oct 9, 2002 | 293 | Dec 8, 2003 | 639 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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