PNAIX vs. CHAIX
PNAIX (T. Rowe Price All-Cap Opportunities Fund I Class) and CHAIX (Chase Growth Fund Institutional Class) are both Large Cap Growth Equities funds. PNAIX is passively managed, while CHAIX is actively managed. Over the past 10 years, PNAIX returned 15.46%/yr vs 17.99%/yr for CHAIX. Their correlation of 0.90 suggests significant overlap in exposure. PNAIX charges 0.66%/yr vs 1.00%/yr for CHAIX.
Performance
PNAIX vs. CHAIX - Performance Comparison
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Returns By Period
In the year-to-date period, PNAIX achieves a 1.33% return, which is significantly lower than CHAIX's 26.75% return. Over the past 10 years, PNAIX has underperformed CHAIX with an annualized return of 15.46%, while CHAIX has yielded a comparatively higher 17.99% annualized return.
PNAIX
- 1D
- 0.44%
- 1M
- 2.30%
- 6M
- -0.63%
- YTD
- 1.33%
- 1Y
- 10.56%
- 3Y*
- 17.53%
- 5Y*
- 9.29%
- 10Y*
- 15.46%
CHAIX
- 1D
- -0.36%
- 1M
- 2.25%
- 6M
- 23.04%
- YTD
- 26.75%
- 1Y
- 45.91%
- 3Y*
- 32.52%
- 5Y*
- 17.77%
- 10Y*
- 17.99%
PNAIX vs. CHAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNAIX T. Rowe Price All-Cap Opportunities Fund I Class | 1.33% | 16.53% | 25.43% | 29.18% | -21.25% | 20.76% | 44.92% | 35.66% | 1.40% | 20.15% |
CHAIX Chase Growth Fund Institutional Class | 26.75% | 20.67% | 38.77% | 26.00% | -20.32% | 22.36% | 18.41% | 41.69% | -3.87% | 24.73% |
Correlation
The correlation between PNAIX and CHAIX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.90 |
The correlation between PNAIX and CHAIX shifts across timeframes, from 0.80 (1 year) to 0.90 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PNAIX vs. CHAIX — Risk / Return Rank
PNAIX
CHAIX
PNAIX vs. CHAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price All-Cap Opportunities Fund I Class (PNAIX) and Chase Growth Fund Institutional Class (CHAIX). 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.
| PNAIX | CHAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.41 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 4.62 | -3.90 |
| Martin ratioReturn relative to average drawdown | 2.49 | 18.75 | -16.26 |
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Drawdowns
PNAIX vs. CHAIX - Drawdown Comparison
The maximum PNAIX drawdown since its inception was -30.49%, smaller than the maximum CHAIX drawdown of -50.61%. Use the drawdown chart below to compare losses from any high point for PNAIX and CHAIX.
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Drawdown Indicators
| PNAIX | CHAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.49% | -50.61% | +20.12% |
Max Drawdown (1Y)Largest decline over 1 year | -14.02% | -9.86% | -4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -19.05% | -23.40% | +4.35% |
Max Drawdown (5Y)Largest decline over 5 years | -29.29% | -24.58% | -4.71% |
Max Drawdown (10Y)Largest decline over 10 years | -30.49% | -30.36% | -0.13% |
Current DrawdownCurrent decline from peak | -0.63% | -0.36% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -10.35% | +4.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.05% | 2.43% | +1.62% |
Volatility
PNAIX vs. CHAIX - Volatility Comparison
The current volatility for T. Rowe Price All-Cap Opportunities Fund I Class (PNAIX) is 5.29%, while Chase Growth Fund Institutional Class (CHAIX) has a volatility of 6.58%. This indicates that PNAIX experiences smaller price fluctuations and is considered to be less risky than CHAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNAIX | CHAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 6.58% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 11.76% | 14.64% | -2.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.20% | 18.60% | -4.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.74% | 18.78% | -1.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.15% | 19.10% | +0.05% |
PNAIX vs. CHAIX - Expense Ratio Comparison
PNAIX has a 0.66% expense ratio, which is lower than CHAIX's 1.00% expense ratio.
Dividends
PNAIX vs. CHAIX - Dividend Comparison
PNAIX's dividend yield for the trailing twelve months is around 8.42%, more than CHAIX's 6.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHAIX Chase Growth Fund Institutional Class | 6.47% | 8.20% | 18.32% | 5.36% | 5.09% | 18.78% | 7.39% | 21.65% | 12.33% | 11.44% | 8.83% | 9.93% |
PNAIX T. Rowe Price All-Cap Opportunities Fund I Class | 8.42% | 8.53% | 9.37% | 5.23% | 3.31% | 20.62% | 15.56% | 7.43% | 12.75% | 0.29% | 0.00% | 0.00% |
Frequently Asked Questions
PNAIX and CHAIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHAIX has higher volatility (6.58%) compared to PNAIX (5.29%). In terms of maximum drawdown, PNAIX dropped -30.49% vs CHAIX's -50.61%.
CHAIX currently has the higher Sharpe Ratio (2.45 vs 0.71), 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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