PBDIX vs. PRCOX
PBDIX (T. Rowe Price QM U.S. Bond Index Fund) and PRCOX (T. Rowe Price U.S. Equity Research Fund) are both mutual funds - PBDIX is a Total Bond Market fund managed by T. Rowe Price, while PRCOX is a Large Cap Blend Equities fund actively managed by T. Rowe Price. Over the past 10 years, PBDIX returned 2.29%/yr vs 16.17%/yr for PRCOX. At a correlation of -0.19, they often move in opposite directions. PBDIX charges 0.23%/yr vs 0.42%/yr for PRCOX.
Performance
PBDIX vs. PRCOX - Performance Comparison
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Returns By Period
In the year-to-date period, PBDIX achieves a 0.20% return, which is significantly lower than PRCOX's 10.90% return. Over the past 10 years, PBDIX has underperformed PRCOX with an annualized return of 2.29%, while PRCOX has yielded a comparatively higher 16.17% annualized return.
PBDIX
- 1D
- 0.21%
- 1M
- 0.99%
- YTD
- 0.20%
- 6M
- 0.67%
- 1Y
- 4.63%
- 3Y*
- 6.00%
- 5Y*
- 1.15%
- 10Y*
- 2.29%
PRCOX
- 1D
- 1.26%
- 1M
- 0.77%
- YTD
- 10.90%
- 6M
- 10.38%
- 1Y
- 27.39%
- 3Y*
- 21.68%
- 5Y*
- 14.61%
- 10Y*
- 16.17%
PBDIX vs. PRCOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 0.20% | 8.29% | 4.75% | 8.62% | -14.24% | -1.45% | 8.17% | 8.69% | -0.01% | 3.83% |
PRCOX T. Rowe Price U.S. Equity Research Fund | 10.90% | 16.34% | 26.41% | 29.82% | -18.80% | 28.06% | 19.82% | 33.04% | -4.73% | 23.80% |
Correlation
The correlation between PBDIX and PRCOX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2000 | -0.19 |
The correlation between PBDIX and PRCOX shifts across timeframes, from -0.19 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PBDIX vs. PRCOX — Risk / Return Rank
PBDIX
PRCOX
PBDIX vs. PRCOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price QM U.S. Bond Index Fund (PBDIX) and T. Rowe Price U.S. Equity Research Fund (PRCOX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| PBDIX | PRCOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.39 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 2.93 | -1.38 |
| Martin ratioReturn relative to average drawdown | 4.25 | 13.25 | -9.00 |
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Drawdowns
PBDIX vs. PRCOX - Drawdown Comparison
The maximum PBDIX drawdown since its inception was -19.20%, smaller than the maximum PRCOX drawdown of -53.96%. Use the drawdown chart below to compare losses from any high point for PBDIX and PRCOX.
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Drawdown Indicators
| PBDIX | PRCOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.20% | -53.96% | +34.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -9.32% | +6.24% |
Max Drawdown (3Y)Largest decline over 3 years | -5.61% | -19.39% | +13.78% |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | -24.94% | +5.84% |
Max Drawdown (10Y)Largest decline over 10 years | -19.20% | -34.42% | +15.22% |
Current DrawdownCurrent decline from peak | -1.60% | -1.05% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -2.16% | -9.17% | +7.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 2.05% | -0.94% |
Volatility
PBDIX vs. PRCOX - Volatility Comparison
The current volatility for T. Rowe Price QM U.S. Bond Index Fund (PBDIX) is 1.28%, while T. Rowe Price U.S. Equity Research Fund (PRCOX) has a volatility of 5.04%. This indicates that PBDIX experiences smaller price fluctuations and is considered to be less risky than PRCOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBDIX | PRCOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 5.04% | -3.76% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 10.40% | -7.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 12.64% | -8.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.11% | 17.45% | -11.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.03% | 18.40% | -13.37% |
PBDIX vs. PRCOX - Expense Ratio Comparison
PBDIX has a 0.23% expense ratio, which is lower than PRCOX's 0.42% expense ratio.
Dividends
PBDIX vs. PRCOX - Dividend Comparison
PBDIX's dividend yield for the trailing twelve months is around 4.25%, more than PRCOX's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 4.25% | 5.19% | 7.21% | 6.39% | 2.01% | 1.84% | 3.59% | 3.18% | 2.94% | 2.75% | 2.82% | 2.99% |
PRCOX T. Rowe Price U.S. Equity Research Fund | 1.06% | 1.17% | 0.64% | 1.17% | 1.28% | 3.71% | 1.04% | 1.39% | 5.60% | 7.02% | 7.28% | 8.76% |
Frequently Asked Questions
PBDIX and PRCOX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRCOX has higher volatility (5.04%) compared to PBDIX (1.28%). In terms of maximum drawdown, PBDIX dropped -19.20% vs PRCOX's -53.96%.
PRCOX currently has the higher Sharpe Ratio (2.16 vs 1.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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