PEXMX vs. PIEQX

Last updated Jun 4, 2026

PEXMX (T. Rowe Price Extended Equity Market Index Fund) and PIEQX (T. Rowe Price International Equity Index Fund) are both mutual funds - PEXMX is a Mid Cap Growth Equities fund managed by T. Rowe Price, while PIEQX is a Foreign Large Cap Equities fund managed by T. Rowe Price. Over the past 10 years, PEXMX returned 12.22%/yr vs 9.00%/yr for PIEQX. A 0.70 correlation means they provide meaningful diversification when combined. PEXMX charges 0.23%/yr vs 0.29%/yr for PIEQX.

Performance

PEXMX vs. PIEQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Extended Equity Market Index Fund (PEXMX) and T. Rowe Price International Equity Index Fund (PIEQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEXMX achieves a 14.63% return, which is significantly higher than PIEQX's 9.41% return. Over the past 10 years, PEXMX has outperformed PIEQX with an annualized return of 12.22%, while PIEQX has yielded a comparatively lower 9.00% annualized return.

PEXMX

• 1D: 1.08%
• 1M: 5.79%
• YTD: 14.63%
• 6M: 13.30%
• 1Y: 29.74%
• 3Y*: 19.87%
• 5Y*: 6.84%
• 10Y*: 12.22%

PIEQX

• 1D: 0.37%
• 1M: 4.10%
• YTD: 9.41%
• 6M: 11.81%
• 1Y: 22.04%
• 3Y*: 16.82%
• 5Y*: 8.56%
• 10Y*: 9.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PEXMX vs. PIEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEXMX T. Rowe Price Extended Equity Market Index Fund	14.63%	11.17%	16.72%	25.32%	-26.15%	12.09%	30.80%	32.57%	-9.61%	16.63%
PIEQX T. Rowe Price International Equity Index Fund	9.41%	31.37%	3.40%	18.07%	-14.54%	11.02%	9.21%	21.04%	-14.29%	23.44%

Correlation

The correlation between PEXMX and PIEQX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Dec 1, 2000	0.70

The correlation between PEXMX and PIEQX has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.

Return for Risk

PEXMX vs. PIEQX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PEXMX

PEXMX Risk / Return Rank: 48
PEXMX Sharpe Ratio Rank: 41
PEXMX Sortino Ratio Rank: 40
PEXMX Omega Ratio Rank: 37
PEXMX Calmar Ratio Rank: 67
PEXMX Martin Ratio Rank: 55

PIEQX

PIEQX Risk / Return Rank: 25
PIEQX Sharpe Ratio Rank: 24
PIEQX Sortino Ratio Rank: 23
PIEQX Omega Ratio Rank: 24
PIEQX Calmar Ratio Rank: 25
PIEQX Martin Ratio Rank: 30

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PEXMX vs. PIEQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Extended Equity Market Index Fund (PEXMX) and T. Rowe Price International Equity Index Fund (PIEQX). 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.

	PEXMX	PIEQX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.40	+0.47
Sortino ratio: Return per unit of downside risk	2.64	2.01	+0.62
Omega ratio: Gain probability vs. loss probability	1.32	1.25	+0.07
Calmar ratio: Return relative to maximum drawdown	3.17	1.86	+1.30
Martin ratio: Return relative to average drawdown	11.18	6.97	+4.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEXMX vs. PIEQX - Sharpe Ratio Comparison

The current PEXMX Sharpe Ratio is 1.86, which is higher than the PIEQX Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of PEXMX and PIEQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PEXMX	PIEQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.40	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.53	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.54	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.28	+0.12

Drawdowns

PEXMX vs. PIEQX - Drawdown Comparison

The maximum PEXMX drawdown since its inception was -57.82%, roughly equal to the maximum PIEQX drawdown of -60.73%. Use the drawdown chart below to compare losses from any high point for PEXMX and PIEQX.

Drawdown Indicators

	PEXMX	PIEQX	Difference
Max Drawdown Largest peak-to-trough decline	-57.82%	-60.73%	+2.91%
Max Drawdown (1Y) Largest decline over 1 year	-10.30%	-11.38%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	-27.01%	-13.70%	-13.31%
Max Drawdown (5Y) Largest decline over 5 years	-36.27%	-29.56%	-6.71%
Max Drawdown (10Y) Largest decline over 10 years	-41.27%	-35.19%	-6.08%
Current Drawdown Current decline from peak	0.00%	-0.55%	+0.55%
Average Drawdown Average peak-to-trough decline	-13.62%	-13.96%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	3.04%	-0.16%

Volatility

PEXMX vs. PIEQX - Volatility Comparison

T. Rowe Price Extended Equity Market Index Fund (PEXMX) and T. Rowe Price International Equity Index Fund (PIEQX) have volatilities of 4.68% and 4.78%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEXMX	PIEQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.68%	4.78%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	13.24%	12.33%	+0.91%
Volatility (1Y) Calculated over the trailing 1-year period	17.49%	15.20%	+2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.46%	16.25%	+6.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.25%	16.77%	+5.48%

PEXMX vs. PIEQX - Expense Ratio Comparison

PEXMX has a 0.23% expense ratio, which is lower than PIEQX's 0.29% expense ratio.

Dividends

PEXMX vs. PIEQX - Dividend Comparison

PEXMX's dividend yield for the trailing twelve months is around 3.51%, more than PIEQX's 2.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEXMX T. Rowe Price Extended Equity Market Index Fund	3.51%	4.02%	7.64%	3.64%	7.53%	14.87%	2.99%	8.17%	6.67%	4.50%	5.90%	4.81%
PIEQX T. Rowe Price International Equity Index Fund	2.92%	3.19%	2.89%	3.00%	2.67%	3.15%	1.71%	2.82%	2.99%	0.21%	2.90%	2.69%

Frequently Asked Questions

Can I hold both PEXMX and PIEQX in my portfolio?

PEXMX and PIEQX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEXMX or PIEQX?

PIEQX has higher volatility (4.78%) compared to PEXMX (4.68%). In terms of maximum drawdown, PEXMX dropped -57.82% vs PIEQX's -60.73%.

Which has better risk-adjusted returns?

PEXMX currently has the higher Sharpe Ratio (1.86 vs 1.40), 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.