PREFX vs. VUG

Last updated Apr 1, 2026

Compare and contrast key facts about T. Rowe Price Tax-Efficient Equity Fund (PREFX) and Vanguard Growth ETF (VUG).

PREFX is managed by T. Rowe Price. It was launched on Dec 29, 2000. VUG is a passively managed fund by Vanguard that tracks the performance of the CRSP US Large Cap Growth Index. It was launched on Nov 13, 2000.

Performance

PREFX vs. VUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Tax-Efficient Equity Fund (PREFX) and Vanguard Growth ETF (VUG). The values are adjusted to include any dividend payments, if applicable.

PREFX vs. VUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PREFX T. Rowe Price Tax-Efficient Equity Fund	-12.80%	16.30%	32.37%	36.98%	-30.52%	22.19%	35.32%	36.59%	-0.46%	28.80%
VUG Vanguard Growth ETF	-10.37%	19.40%	32.69%	46.83%	-33.16%	27.35%	40.25%	37.03%	-3.32%	27.72%

Returns By Period

In the year-to-date period, PREFX achieves a -12.80% return, which is significantly lower than VUG's -10.37% return. Over the past 10 years, PREFX has underperformed VUG with an annualized return of 14.55%, while VUG has yielded a comparatively higher 16.03% annualized return.

PREFX

• 1D: -0.59%
• 1M: -8.96%
• YTD: -12.80%
• 6M: -12.38%
• 1Y: 11.92%
• 3Y*: 17.95%
• 5Y*: 9.15%
• 10Y*: 14.55%

VUG

• 1D: 4.00%
• 1M: -5.12%
• YTD: -10.37%
• 6M: -8.73%
• 1Y: 18.30%
• 3Y*: 21.15%
• 5Y*: 11.43%
• 10Y*: 16.03%

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

PREFX vs. VUG - Expense Ratio Comparison

PREFX has a 0.76% expense ratio, which is higher than VUG's 0.03% expense ratio.

PREFX

T. Rowe Price Tax-Efficient Equity Fund

VUG

Vanguard Growth ETF

Return for Risk

PREFX vs. VUG — Risk / Return Rank

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

PREFX

PREFX Risk / Return Rank: 24
PREFX Sharpe Ratio Rank: 24
PREFX Sortino Ratio Rank: 27
PREFX Omega Ratio Rank: 26
PREFX Calmar Ratio Rank: 24
PREFX Martin Ratio Rank: 22

VUG

VUG Risk / Return Rank: 50
VUG Sharpe Ratio Rank: 49
VUG Sortino Ratio Rank: 54
VUG Omega Ratio Rank: 53
VUG Calmar Ratio Rank: 49
VUG Martin Ratio Rank: 45

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.

PREFX vs. VUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Tax-Efficient Equity Fund (PREFX) and Vanguard Growth ETF (VUG). 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.

	PREFX	VUG	Difference
Sharpe ratio Return per unit of total volatility	0.57	0.81	-0.24
Sortino ratio Return per unit of downside risk	0.98	1.31	-0.33
Omega ratio Gain probability vs. loss probability	1.14	1.18	-0.05
Calmar ratio Return relative to maximum drawdown	0.69	1.11	-0.42
Martin ratio Return relative to average drawdown	2.30	3.96	-1.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PREFX vs. VUG - Sharpe Ratio Comparison

The current PREFX Sharpe Ratio is 0.57, which is lower than the VUG Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of PREFX and VUG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PREFX	VUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.57	0.81	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.52	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.75	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.57	-0.14

Correlation

The correlation between PREFX and VUG is 0.96, 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

PREFX vs. VUG - Dividend Comparison

PREFX has not paid dividends to shareholders, while VUG's dividend yield for the trailing twelve months is around 0.46%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PREFX T. Rowe Price Tax-Efficient Equity Fund	0.00%	0.00%	0.85%	0.61%	0.88%	2.09%	1.98%	0.94%	1.36%	2.82%	0.22%	0.55%
VUG Vanguard Growth ETF	0.46%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.14%	1.39%	1.30%

Drawdowns

PREFX vs. VUG - Drawdown Comparison

The maximum PREFX drawdown since its inception was -56.70%, which is greater than VUG's maximum drawdown of -50.68%. Use the drawdown chart below to compare losses from any high point for PREFX and VUG.

Drawdown Indicators

	PREFX	VUG	Difference
Max Drawdown Largest peak-to-trough decline	-56.70%	-50.68%	-6.02%
Max Drawdown (1Y) Largest decline over 1 year	-16.18%	-16.53%	+0.35%
Max Drawdown (5Y) Largest decline over 5 years	-35.95%	-35.61%	-0.34%
Max Drawdown (10Y) Largest decline over 10 years	-35.95%	-35.61%	-0.34%
Current Drawdown Current decline from peak	-16.18%	-13.20%	-2.98%
Average Drawdown Average peak-to-trough decline	-10.31%	-7.13%	-3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	4.66%	+0.22%

Volatility

PREFX vs. VUG - Volatility Comparison

The current volatility for T. Rowe Price Tax-Efficient Equity Fund (PREFX) is 5.44%, while Vanguard Growth ETF (VUG) has a volatility of 7.00%. This indicates that PREFX experiences smaller price fluctuations and is considered to be less risky than VUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PREFX	VUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	7.00%	-1.56%
Volatility (6M) Calculated over the trailing 6-month period	11.78%	12.65%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	22.00%	22.68%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.63%	22.23%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.18%	21.38%	-0.20%