POMIX vs. PNAIX

Last updated Jun 5, 2026

POMIX (T. Rowe Price Total Equity Market Index Fund) and PNAIX (T. Rowe Price All-Cap Opportunities Fund I Class) are both mutual funds - POMIX is a Large Cap Blend Equities fund managed by T. Rowe Price, while PNAIX is a Large Cap Growth Equities fund tracking the Russell 3000 Index. Over the past 10 years, POMIX returned 14.66%/yr vs 15.48%/yr for PNAIX. Their correlation of 0.94 suggests significant overlap in exposure. POMIX charges 0.20%/yr vs 0.66%/yr for PNAIX.

Performance

POMIX vs. PNAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Total Equity Market Index Fund (POMIX) and T. Rowe Price All-Cap Opportunities Fund I Class (PNAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, POMIX achieves a 11.19% return, which is significantly higher than PNAIX's 0.29% return. Over the past 10 years, POMIX has underperformed PNAIX with an annualized return of 14.66%, while PNAIX has yielded a comparatively higher 15.48% annualized return.

POMIX

• 1D: -0.73%
• 1M: 4.09%
• YTD: 11.19%
• 6M: 10.97%
• 1Y: 28.19%
• 3Y*: 22.01%
• 5Y*: 12.66%
• 10Y*: 14.66%

PNAIX

• 1D: -0.88%
• 1M: 2.33%
• YTD: 0.29%
• 6M: -0.33%
• 1Y: 13.37%
• 3Y*: 18.55%
• 5Y*: 10.22%
• 10Y*: 15.48%

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

POMIX vs. PNAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
POMIX T. Rowe Price Total Equity Market Index Fund	11.19%	17.09%	23.48%	26.38%	-19.64%	25.39%	19.82%	30.95%	-5.57%	19.09%
PNAIX T. Rowe Price All-Cap Opportunities Fund I Class	0.29%	16.53%	25.43%	29.18%	-21.25%	20.76%	44.92%	35.66%	1.40%	20.15%

Correlation

The correlation between POMIX and PNAIX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.94

The correlation between POMIX and PNAIX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

POMIX vs. PNAIX — Risk / Return Rank

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

POMIX

POMIX Risk / Return Rank: 70
POMIX Sharpe Ratio Rank: 68
POMIX Sortino Ratio Rank: 66
POMIX Omega Ratio Rank: 61
POMIX Calmar Ratio Rank: 73
POMIX Martin Ratio Rank: 82

PNAIX

PNAIX Risk / Return Rank: 13
PNAIX Sharpe Ratio Rank: 14
PNAIX Sortino Ratio Rank: 14
PNAIX Omega Ratio Rank: 15
PNAIX Calmar Ratio Rank: 11
PNAIX Martin Ratio Rank: 12

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.

POMIX vs. PNAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Total Equity Market Index Fund (POMIX) and T. Rowe Price All-Cap Opportunities Fund I Class (PNAIX). 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.

	POMIX	PNAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.05	+1.37
Sortino ratio: Return per unit of downside risk	3.40	1.54	+1.86
Omega ratio: Gain probability vs. loss probability	1.43	1.19	+0.24
Calmar ratio: Return relative to maximum drawdown	3.31	1.00	+2.32
Martin ratio: Return relative to average drawdown	15.31	3.51	+11.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

POMIX vs. PNAIX - Sharpe Ratio Comparison

The current POMIX Sharpe Ratio is 2.42, which is higher than the PNAIX Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of POMIX and PNAIX, 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

	POMIX	PNAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	1.05	+1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.58	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.81	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.78	-0.33

Drawdowns

POMIX vs. PNAIX - Drawdown Comparison

The maximum POMIX drawdown since its inception was -55.54%, which is greater than PNAIX's maximum drawdown of -30.49%. Use the drawdown chart below to compare losses from any high point for POMIX and PNAIX.

Drawdown Indicators

	POMIX	PNAIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.54%	-30.49%	-25.05%
Max Drawdown (1Y) Largest decline over 1 year	-8.83%	-14.02%	+5.19%
Max Drawdown (3Y) Largest decline over 3 years	-19.67%	-19.05%	-0.62%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-29.29%	+3.73%
Max Drawdown (10Y) Largest decline over 10 years	-35.05%	-30.49%	-4.56%
Current Drawdown Current decline from peak	-0.73%	-1.65%	+0.92%
Average Drawdown Average peak-to-trough decline	-10.64%	-5.53%	-5.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	3.97%	-2.09%

Volatility

POMIX vs. PNAIX - Volatility Comparison

The current volatility for T. Rowe Price Total Equity Market Index Fund (POMIX) is 3.01%, while T. Rowe Price All-Cap Opportunities Fund I Class (PNAIX) has a volatility of 3.57%. This indicates that POMIX experiences smaller price fluctuations and is considered to be less risky than PNAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	POMIX	PNAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	3.57%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	9.58%	10.58%	-1.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.11%	13.29%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.55%	17.60%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.52%	19.16%	-0.64%

POMIX vs. PNAIX - Expense Ratio Comparison

POMIX has a 0.20% expense ratio, which is lower than PNAIX's 0.66% expense ratio.

Dividends

POMIX vs. PNAIX - Dividend Comparison

POMIX's dividend yield for the trailing twelve months is around 1.91%, less than PNAIX's 8.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PNAIX T. Rowe Price All-Cap Opportunities Fund I Class	8.51%	8.53%	9.37%	5.23%	3.31%	20.62%	15.56%	7.43%	12.75%	0.29%	0.00%	0.00%
POMIX T. Rowe Price Total Equity Market Index Fund	1.91%	2.13%	1.76%	1.46%	1.49%	1.53%	1.55%	1.91%	2.89%	0.20%	2.41%	2.08%

Frequently Asked Questions

Can I hold both POMIX and PNAIX in my portfolio?

With a correlation of 0.92, POMIX and PNAIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, POMIX or PNAIX?

PNAIX has higher volatility (3.57%) compared to POMIX (3.01%). In terms of maximum drawdown, POMIX dropped -55.54% vs PNAIX's -30.49%.

Which has better risk-adjusted returns?

POMIX currently has the higher Sharpe Ratio (2.42 vs 1.05), 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.