T. Rowe Price Capital Appreciation Fund (PRWCX) Sharpe Ratio: 1.68

PRWCX's Sharpe Ratio of 1.68 indicates that for each unit of volatility, it generates 1.68 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 24, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

PRWCX Sharpe Ratio Rank

Below Average

PRWCX ranks above 39.0% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

Strong returns with low total volatility → Higher rank
High volatility (both upside and downside) → Lower rank
Consistent returns → Higher rank than volatile returns of same magnitude
Sharp drawdowns increase volatility → Lower rank

What you can do with this information

Returns may not adequately compensate for volatility taken
Consider smaller allocation given below-average risk-adjusted profile
Explore higher-ranked investments with better consistency
Assess whether the volatility profile aligns with your portfolio goals

PRWCX Sharpe Ratio Market Positioning

The chart shows PRWCX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

Red zone (bottom 25%): 1.30 or lower
Yellow zone (middle 50%): 1.30 to 2.33
Green zone (top 25%): 2.33 or higher
Top 1%: 4.29+
Median: 1.93 — half of all investments score higher

How it compares to other similar mutual funds

The table compares T. Rowe Price Capital Appreciation Fund's Sharpe Ratio with other mutual funds in the Diversified Portfolio category across multiple time periods, showing how PRWCX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 24, 2026.

Symbol	Name	1Y Sharpe Ratio
STDAX	SEI Asset Allocation Trust Defensive Strategy Allocation Fund	4.74
TIBIX	Thornburg Investment Income Builder Fund Class I	4.28
NWQIX	Nuveen Flexible Income Fund	3.69
EKBAX	Allspring Diversified Capital Builder Fund	3.47
AYBLX	Pioneer Balanced ESG Fund	3.33
AOBLX	Victory Pioneer Balanced Fund Class A	3.31
FMUAX	Federated Hermes Municipal and Stock Advantage Fund	3.22
IPFCX	Poplar Forest Cornerstone Fund	2.92
FORTX	Abraham Fortress Fund	2.90
FIQWX	Fidelity Advisor Strategic Dividend & Income Fund Class Z	2.86
PRWCX	T. Rowe Price Capital Appreciation Fund	1.68

Benchmark Against

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S&P 500 Index

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Historical Sharpe Ratio

The chart shows PRWCX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when PRWCX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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How does PRWCX fit in your portfolio?

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