PMEGX vs. PRWAX
PMEGX (T. Rowe Price Institutional Mid Cap Equity Growth Fund) and PRWAX (T. Rowe Price All-Cap Opportunities Fund) are both mutual funds - PMEGX is a Mid Cap Growth Equities fund managed by T. Rowe Price, while PRWAX is a Large Cap Growth Equities fund actively managed by T. Rowe Price. Over the past 10 years, PMEGX returned 9.78%/yr vs 16.77%/yr for PRWAX. Their correlation of 0.92 means they have usually moved in the same direction. PMEGX charges 0.61%/yr vs 0.76%/yr for PRWAX.
Performance
PMEGX vs. PRWAX - Performance Comparison
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Returns By Period
In the year-to-date period, PMEGX achieves a 3.03% return, which is significantly higher than PRWAX's -1.10% return. Over the past 10 years, PMEGX has underperformed PRWAX with an annualized return of 9.78%, while PRWAX has yielded a comparatively higher 16.77% annualized return.
PMEGX
- 1D
- 0.47%
- 1M
- -1.53%
- 6M
- 2.67%
- YTD
- 3.03%
- 1Y
- 6.19%
- 3Y*
- 6.28%
- 5Y*
- 2.15%
- 10Y*
- 9.78%
- ALL TIME*
- 10.81%
PRWAX
- 1D
- 1.76%
- 1M
- -1.38%
- 6M
- -0.18%
- YTD
- -1.10%
- 1Y
- 7.57%
- 3Y*
- 14.80%
- 5Y*
- 8.53%
- 10Y*
- 16.77%
- ALL TIME*
- 11.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PMEGX vs. PRWAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 3.03% | 3.73% | 9.15% | 20.69% | -23.19% | 15.50% | 23.95% | 33.08% | -2.23% | 26.02% |
PRWAX T. Rowe Price All-Cap Opportunities Fund | -1.10% | 16.37% | 25.24% | 29.02% | -21.37% | 20.63% | 44.73% | 35.08% | 1.26% | 34.51% |
Correlation
The correlation between PMEGX and PRWAX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 1996 | 0.92 |
Over the past year, the correlation between PMEGX and PRWAX has dropped to 0.72 - well below their long-term average of 0.92, suggesting their price drivers have been diverging.
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Return for Risk
PMEGX vs. PRWAX — Risk / Return Rank
PMEGX
PRWAX
PMEGX vs. PRWAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) and T. Rowe Price All-Cap Opportunities Fund (PRWAX). 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.
| PMEGX | PRWAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.08 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 0.40 | +0.01 |
| Martin ratioReturn relative to average drawdown | 1.39 | 1.36 | +0.03 |
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Drawdowns
PMEGX vs. PRWAX - Drawdown Comparison
The maximum PMEGX drawdown since its inception was -55.88%, roughly equal to the maximum PRWAX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for PMEGX and PRWAX.
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Drawdown Indicators
| PMEGX | PRWAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.88% | -55.06% | -0.82% |
Max Drawdown (1Y)Largest decline over 1 year | -10.21% | -14.09% | +3.88% |
Max Drawdown (3Y)Largest decline over 3 years | -27.99% | -19.06% | -8.93% |
Max Drawdown (5Y)Largest decline over 5 years | -32.87% | -29.38% | -3.49% |
Max Drawdown (10Y)Largest decline over 10 years | -37.16% | -30.50% | -6.66% |
Current DrawdownCurrent decline from peak | -6.20% | -3.04% | -3.16% |
Average DrawdownAverage peak-to-trough decline | -8.99% | -9.87% | +0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 4.13% | -1.09% |
Volatility
PMEGX vs. PRWAX - Volatility Comparison
The current volatility for T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) is 2.50%, while T. Rowe Price All-Cap Opportunities Fund (PRWAX) has a volatility of 4.17%. This indicates that PMEGX experiences smaller price fluctuations and is considered to be less risky than PRWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMEGX | PRWAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 4.17% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 10.49% | 11.97% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 14.62% | -0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.11% | 17.78% | +2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.75% | 18.74% | +1.01% |
PMEGX vs. PRWAX - Expense Ratio Comparison
PMEGX has a 0.61% expense ratio, which is lower than PRWAX's 0.76% expense ratio.
Dividends
PMEGX vs. PRWAX - Dividend Comparison
PMEGX's dividend yield for the trailing twelve months is around 20.48%, more than PRWAX's 8.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 20.48% | 21.10% | 14.15% | 7.07% | 1.65% | 12.80% | 4.44% | 5.11% | 10.42% | 6.30% | 1.04% | 6.18% |
PRWAX T. Rowe Price All-Cap Opportunities Fund | 8.44% | 8.35% | 9.22% | 5.10% | 3.11% | 20.51% | 15.44% | 7.01% | 12.58% | 12.30% | 6.19% | 8.84% |
Frequently Asked Questions
PMEGX and PRWAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRWAX has higher volatility (4.17%) compared to PMEGX (2.50%). In terms of maximum drawdown, PMEGX dropped -55.88% vs PRWAX's -55.06%.
PRWAX currently has the higher Sharpe Ratio (0.39 vs 0.31), 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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