- ISIN
- US7795621074
- CUSIP
- 779562107
- Issuer
- T. Rowe Price
- Inception Date
- Jun 3, 1960
- Category
- Mid Cap Growth Equities
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Growth
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
PRNHX Performance Chart
T. Rowe Price New Horizons Fund (PRNHX) is up 12.1% since the beginning of the year. PRNHX is currently trading at $58 per share. Investors who bought $1,000 worth of PRNHX shares 5 years ago would now be looking at an investment worth $1,015.
Loading charts...
Returns By Period
T. Rowe Price New Horizons Fund (PRNHX) has returned 12.14% so far this year and 25.45% over the past 12 months. Looking at the last ten years, PRNHX has achieved an annualized return of 14.57%, outperforming the S&P 500 Index benchmark, which averaged 13.61% per year.
T. Rowe Price New Horizons Fund
- 1D
- 4.13%
- 1M
- 2.22%
- YTD
- 12.14%
- 6M
- 9.35%
- 1Y
- 25.45%
- 3Y*
- 10.65%
- 5Y*
- 0.29%
- 10Y*
- 14.57%
Benchmark (S&P 500 Index)
- 1D
- 0.50%
- 1M
- 0.31%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 24.33%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
PRNHX Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 1971, PRNHX's average daily return is +0.05%, while the average monthly return is +1.00%. At this rate, an investment would double in approximately 5.8 years.
Historically, 61% of months were positive and 39% were negative. The best month was Feb 2000 with a return of +21.4%, while the worst month was Oct 1987 at -29.0%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 12 months.
On a daily basis, PRNHX closed higher 53% of trading days. The best single day was Dec 10, 1986 with a return of +17.3%, while the worst single day was Oct 19, 1987 at -22.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.99% | 1.18% | -7.01% | 10.24% | 5.27% | -2.18% | 12.14% | ||||||
| 2025 | 5.55% | -7.60% | -8.89% | 0.28% | 2.45% | 3.53% | 2.41% | 2.48% | 2.19% | 3.73% | -0.22% | -1.57% | 3.27% |
| 2024 | -1.14% | 5.63% | 1.58% | -8.67% | -0.35% | 0.46% | 4.90% | 0.14% | 1.43% | 0.43% | 9.61% | -4.37% | 8.80% |
| 2023 | 9.69% | -1.00% | -0.97% | -1.85% | 2.15% | 7.43% | 4.49% | -2.94% | -5.88% | -7.15% | 7.13% | 10.34% | 21.35% |
| 2022 | -15.66% | -1.71% | -2.54% | -13.75% | -8.18% | -2.91% | 11.70% | 0.21% | -9.83% | 5.98% | 0.49% | -5.58% | -36.96% |
| 2021 | -1.80% | 2.46% | -2.46% | 7.26% | -3.08% | 7.71% | 2.13% | 5.13% | -3.24% | 4.97% | -5.77% | -2.62% | 9.96% |
Benchmark Metrics
T. Rowe Price New Horizons Fund has an annualized alpha of 2.52%, beta of 0.98, and R2 of 0.66 versus S&P 500 Index. Calculated based on daily prices since January 04, 1971.
- This fund captured 130.40% of S&P 500 Index gains and 119.49% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This fund generated an annualized alpha of 2.52% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 0.98 and R2 of 0.66, 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
- 2.52%
- Beta
- 0.98
- R²
- 0.66
- Upside Capture
- 130.40%
- Downside Capture
- 119.49%
Expense Ratio
PRNHX has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PRNHX ranks 24 for risk / return — below 24% 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price New Horizons Fund (PRNHX) 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.
| PRNHX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.34 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.53 | -0.80 |
| Martin ratioReturn relative to average drawdown | 6.59 | 11.37 | -4.78 |
Dividends
Dividend History
T. Rowe Price New Horizons Fund provided a 10.57% dividend yield over the last twelve months, with an annual payout of $6.13 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $6.13 | $6.13 | $5.48 | $0.00 | $2.18 | $13.13 | $11.25 | $13.93 | $6.72 | $4.35 | $2.50 | $3.28 |
Dividend yield | 10.57% | 11.85% | 9.82% | 0.00% | 4.72% | 17.09% | 13.67% | 23.46% | 13.94% | 8.27% | 5.77% | 7.72% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price New Horizons 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 | $6.13 | $6.13 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5.48 | $5.48 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.18 | $2.18 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $13.13 | $13.13 |
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.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price New Horizons 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 Horizons Fund was 70.96%, occurring on Oct 4, 1974. Recovery took 1477 trading sessions.
The current T. Rowe Price New Horizons Fund drawdown is 13.61%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
1974 bear market1974 | -70.96%Oct 1974 | 2y 4mo | 5y 10mo | 8y 2moMay 1972 - Aug 1980 |
Financial crisis2007–2009 | -55.79%Nov 2008 | 1y 1mo | 2y 2d | 3y 1moOct 2007 - Nov 2010 |
Dot-com crash2000–2002 | -53.76%Oct 2002 | 2y 7mo | 2y 8mo | 5y 3moMar 2000 - Jun 2005 |
1982 bear market1982 | -49.30%Aug 1982 | 1y 8mo | 9mo 27d | 2y 6moDec 1980 - Jun 1983 |
Bear market2022 | -48.37%Jun 2022 | 7mo 8d | — | 4y 7moNov 2021 - now |
Drawdown Indicators
| PRNHX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.96% | -56.78% | -14.18% |
Max Drawdown (1Y)Largest decline over 1 year | -13.12% | -9.10% | -4.02% |
Max Drawdown (3Y)Largest decline over 3 years | -26.65% | -18.90% | -7.75% |
Max Drawdown (5Y)Largest decline over 5 years | -48.37% | -25.43% | -22.94% |
Max Drawdown (10Y)Largest decline over 10 years | -48.37% | -33.92% | -14.45% |
Current DrawdownCurrent decline from peak | -13.61% | -2.34% | -11.27% |
Average DrawdownAverage peak-to-trough decline | -18.38% | -10.72% | -7.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 2.02% | +1.42% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with PRNHX
Add T. Rowe Price New Horizons Fund to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with PRNHX