- ISIN
- US77954G1085
- CUSIP
- 77954G108
- Issuer
- T. Rowe Price
- Inception Date
- Dec 29, 1939
- Category
- Diversified Portfolio
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
RPBAX Performance Chart
T. Rowe Price Balanced Fund (RPBAX) is up 6.5% since the beginning of the year. RPBAX is currently trading at $30 per share. Investors who bought $1,000 worth of RPBAX shares 5 years ago would now be looking at an investment worth $1,425.
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Returns By Period
T. Rowe Price Balanced Fund (RPBAX) has returned 6.49% so far this year and 17.69% over the past 12 months. Over the last ten years, RPBAX has returned 8.88% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
T. Rowe Price Balanced Fund
- 1D
- 0.77%
- 1M
- 0.60%
- YTD
- 6.49%
- 6M
- 6.45%
- 1Y
- 17.69%
- 3Y*
- 13.76%
- 5Y*
- 7.34%
- 10Y*
- 8.88%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
RPBAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1990, RPBAX's average daily return is +0.03%, while the average monthly return is +0.67%. At this rate, an investment would double in approximately 8.7 years.
Historically, 66% of months were positive and 34% were negative. The best month was Apr 2020 with a return of +8.3%, while the worst month was Oct 2008 at -14.0%. The longest winning streak lasted 19 consecutive months, and the longest losing streak was 5 months.
On a daily basis, RPBAX closed higher 52% of trading days. The best single day was Oct 13, 2008 with a return of +7.3%, while the worst single day was Mar 16, 2020 at -7.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.11% | 1.79% | -5.05% | 5.85% | 2.20% | -0.27% | 6.49% | ||||||
| 2025 | 2.66% | 0.63% | -2.17% | 0.23% | 3.28% | 3.10% | 0.36% | 2.35% | 2.25% | 0.99% | 0.84% | 0.60% | 16.06% |
| 2024 | 0.48% | 2.80% | 2.64% | -2.85% | 3.67% | 1.23% | 1.78% | 2.22% | 1.40% | -2.15% | 2.99% | -2.80% | 11.71% |
| 2023 | 5.76% | -2.68% | 2.80% | 1.71% | -0.46% | 3.53% | 2.17% | -1.65% | -3.43% | -2.17% | 7.25% | 4.50% | 18.01% |
| 2022 | -4.01% | -2.22% | 0.49% | -6.97% | 0.28% | -6.35% | 5.86% | -3.85% | -7.43% | 3.84% | 6.06% | -3.26% | -17.28% |
| 2021 | -0.62% | 2.07% | 1.70% | 3.46% | 1.00% | 0.82% | 1.22% | 1.88% | -2.97% | 3.44% | -1.78% | 2.54% | 13.29% |
Benchmark Metrics
T. Rowe Price Balanced Fund has an annualized alpha of 2.35%, beta of 0.58, and R2 of 0.88 versus S&P 500 Index. Calculated based on daily prices since January 02, 1990.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (65.01%) than losses (63.96%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 2.35% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.58 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.35%
- Beta
- 0.58
- R²
- 0.88
- Upside Capture
- 65.01%
- Downside Capture
- 63.96%
Expense Ratio
RPBAX has an expense ratio of 0.57%, placing it in the medium range.
Return for Risk
Risk / Return Rank
RPBAX ranks 53 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Balanced Fund (RPBAX) 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.
| RPBAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 2.78 | -0.33 |
| Martin ratioReturn relative to average drawdown | 10.80 | 12.44 | -1.64 |
Dividends
Dividend History
T. Rowe Price Balanced Fund provided a 6.94% dividend yield over the last twelve months, with an annual payout of $2.09 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.09 | $2.07 | $1.91 | $0.96 | $1.12 | $2.63 | $1.25 | $0.85 | $1.80 | $0.41 | $0.65 | $1.57 |
Dividend yield | 6.94% | 7.30% | 7.28% | 3.80% | 5.03% | 9.33% | 4.59% | 3.41% | 8.42% | 1.69% | 2.96% | 7.32% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Balanced 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 | $0.13 | $0.00 | $0.00 | $0.00 | $0.13 | ||||||
| 2025 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $1.65 | $2.07 |
| 2024 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $1.50 | $1.91 |
| 2023 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.59 | $0.96 |
| 2022 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.81 | $1.12 |
| 2021 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $2.36 | $2.63 |
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 Balanced 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 Balanced Fund was 40.79%, occurring on Mar 9, 2009. Recovery took 452 trading sessions.
The current T. Rowe Price Balanced Fund drawdown is 0.36%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -40.79%Mar 2009 | 1y 4mo | 1y 9mo | 3y 1moNov 2007 - Dec 2010 |
COVID crash2020 | -25.49%Mar 2020 | 1mo 2d | 4mo 14d | 5mo 16dFeb 2020 - Aug 2020 |
Bear market2022 | -23.45%Oct 2022 | 11mo 9d | 1y 4mo | 2y 3moNov 2021 - Feb 2024 |
Dot-com crash2000–2002 | -22.10%Oct 2002 | 2y 1mo | 1y 2mo | 3y 3moSep 2000 - Dec 2003 |
2011 correction2011 | -13.52%Oct 2011 | 5mo 4d | 4mo 3d | 9mo 7dMay 2011 - Feb 2012 |
Drawdown Indicators
| RPBAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.79% | -56.78% | +15.99% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -9.10% | +1.95% |
Max Drawdown (3Y)Largest decline over 3 years | -10.43% | -18.90% | +8.47% |
Max Drawdown (5Y)Largest decline over 5 years | -23.45% | -25.43% | +1.98% |
Max Drawdown (10Y)Largest decline over 10 years | -25.49% | -33.92% | +8.43% |
Current DrawdownCurrent decline from peak | -0.36% | -1.80% | +1.44% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -10.71% | +6.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 2.03% | -0.41% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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