PNAIX vs. FXAIX
Compare and contrast key facts about T. Rowe Price All-Cap Opportunities Fund I Class (PNAIX) and Fidelity 500 Index Fund (FXAIX).
PNAIX is a passively managed fund by T. Rowe Price that tracks the performance of the Russell 3000 Index. It was launched on Dec 17, 2015. FXAIX is a passively managed fund by Fidelity that tracks the performance of the S&P 500 Index. It was launched on Feb 17, 1988. Both PNAIX and FXAIX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PNAIX vs. FXAIX - Performance Comparison
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PNAIX vs. FXAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNAIX T. Rowe Price All-Cap Opportunities Fund I Class | -12.32% | 26.95% | 25.43% | 29.18% | -21.25% | 20.76% | 44.92% | 35.66% | 1.40% | 20.15% |
FXAIX Fidelity 500 Index Fund | -7.05% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -4.43% | 21.82% |
Returns By Period
In the year-to-date period, PNAIX achieves a -12.32% return, which is significantly lower than FXAIX's -7.05% return. Over the past 10 years, PNAIX has outperformed FXAIX with an annualized return of 15.11%, while FXAIX has yielded a comparatively lower 13.75% annualized return.
PNAIX
- 1D
- -0.24%
- 1M
- -9.12%
- YTD
- -12.32%
- 6M
- -3.70%
- 1Y
- 16.53%
- 3Y*
- 18.96%
- 5Y*
- 10.51%
- 10Y*
- 15.11%
FXAIX
- 1D
- -0.39%
- 1M
- -7.68%
- YTD
- -7.05%
- 6M
- -4.59%
- 1Y
- 14.42%
- 3Y*
- 17.17%
- 5Y*
- 11.40%
- 10Y*
- 13.75%
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PNAIX vs. FXAIX - Expense Ratio Comparison
PNAIX has a 0.66% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Return for Risk
PNAIX vs. FXAIX — Risk / Return Rank
PNAIX
FXAIX
PNAIX vs. FXAIX - 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 Fidelity 500 Index Fund (FXAIX). 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.
| PNAIX | FXAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.88 | 0.84 | +0.04 |
Sortino ratioReturn per unit of downside risk | 1.44 | 1.30 | +0.14 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.04 | 1.05 | -0.02 |
Martin ratioReturn relative to average drawdown | 3.84 | 5.13 | -1.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PNAIX | FXAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 0.84 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.68 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.77 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.75 | 0.00 |
Correlation
The correlation between PNAIX and FXAIX is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PNAIX vs. FXAIX - Dividend Comparison
PNAIX's dividend yield for the trailing twelve months is around 19.22%, more than FXAIX's 1.20% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNAIX T. Rowe Price All-Cap Opportunities Fund I Class | 19.22% | 16.85% | 9.37% | 5.23% | 3.31% | 20.62% | 15.56% | 7.43% | 12.75% | 0.29% | 0.00% | 0.00% |
FXAIX Fidelity 500 Index Fund | 1.20% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
Drawdowns
PNAIX vs. FXAIX - Drawdown Comparison
The maximum PNAIX drawdown since its inception was -30.49%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for PNAIX and FXAIX.
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Drawdown Indicators
| PNAIX | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.49% | -33.79% | +3.30% |
Max Drawdown (1Y)Largest decline over 1 year | -14.02% | -12.13% | -1.89% |
Max Drawdown (5Y)Largest decline over 5 years | -29.29% | -24.50% | -4.79% |
Max Drawdown (10Y)Largest decline over 10 years | -30.49% | -33.79% | +3.30% |
Current DrawdownCurrent decline from peak | -14.02% | -8.89% | -5.13% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -3.83% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.78% | 2.50% | +1.28% |
Volatility
PNAIX vs. FXAIX - Volatility Comparison
T. Rowe Price All-Cap Opportunities Fund I Class (PNAIX) has a higher volatility of 4.88% compared to Fidelity 500 Index Fund (FXAIX) at 4.24%. This indicates that PNAIX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNAIX | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | 4.24% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 12.45% | 9.08% | +3.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.41% | 18.13% | +1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.87% | 16.88% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.26% | 18.03% | +1.23% |