PREIX vs. PRDGX

Last updated Jun 23, 2026

PREIX (T. Rowe Price Equity Index 500 Fund) and PRDGX (T. Rowe Price Dividend Growth Fund, Inc.) are both Large Cap Blend Equities funds from T. Rowe Price. PREIX is passively managed, while PRDGX is actively managed. Over the past 10 years, PREIX returned 15.34%/yr vs 12.96%/yr for PRDGX. Their correlation of 0.94 suggests significant overlap in exposure. PREIX charges 0.15%/yr vs 0.64%/yr for PRDGX.

Performance

PREIX vs. PRDGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Equity Index 500 Fund (PREIX) and T. Rowe Price Dividend Growth Fund, Inc. (PRDGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PREIX achieves a 10.08% return, which is significantly higher than PRDGX's 8.38% return. Over the past 10 years, PREIX has outperformed PRDGX with an annualized return of 15.34%, while PRDGX has yielded a comparatively lower 12.96% annualized return.

PREIX

• 1D: 1.08%
• 1M: 0.45%
• YTD: 10.08%
• 6M: 9.58%
• 1Y: 26.95%
• 3Y*: 20.76%
• 5Y*: 13.90%
• 10Y*: 15.34%

PRDGX

• 1D: 0.35%
• 1M: 1.59%
• YTD: 8.38%
• 6M: 7.91%
• 1Y: 19.00%
• 3Y*: 15.02%
• 5Y*: 10.67%
• 10Y*: 12.96%

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

PREIX vs. PRDGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PREIX T. Rowe Price Equity Index 500 Fund	10.08%	17.66%	24.78%	26.07%	-18.27%	28.48%	18.17%	31.47%	-4.59%	21.01%
PRDGX T. Rowe Price Dividend Growth Fund, Inc.	8.38%	14.74%	13.48%	13.68%	-10.22%	26.03%	13.92%	31.76%	-1.06%	18.89%

Correlation

The correlation between PREIX and PRDGX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 31, 1992	0.94

The correlation between PREIX and PRDGX shifts across timeframes, from 0.80 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PREIX vs. PRDGX — Risk / Return Rank

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

PREIX

PREIX Risk / Return Rank: 65
PREIX Sharpe Ratio Rank: 63
PREIX Sortino Ratio Rank: 57
PREIX Omega Ratio Rank: 60
PREIX Calmar Ratio Rank: 67
PREIX Martin Ratio Rank: 78

PRDGX

PRDGX Risk / Return Rank: 52
PRDGX Sharpe Ratio Rank: 52
PRDGX Sortino Ratio Rank: 51
PRDGX Omega Ratio Rank: 47
PRDGX Calmar Ratio Rank: 51
PRDGX Martin Ratio Rank: 57

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.

PREIX vs. PRDGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Equity Index 500 Fund (PREIX) and T. Rowe Price Dividend Growth Fund, Inc. (PRDGX). 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.

	PREIX	PRDGX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.95	+0.20
Sortino ratio: Return per unit of downside risk	2.90	2.77	+0.13
Omega ratio: Gain probability vs. loss probability	1.39	1.35	+0.04
Calmar ratio: Return relative to maximum drawdown	3.00	2.61	+0.39
Martin ratio: Return relative to average drawdown	13.55	10.71	+2.84

PREIX vs. PRDGX - Sharpe Ratio Comparison

The current PREIX Sharpe Ratio is 2.15, which is comparable to the PRDGX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of PREIX and PRDGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PREIX vs. PRDGX - Drawdown Comparison

The maximum PREIX drawdown since its inception was -55.32%, which is greater than PRDGX's maximum drawdown of -49.79%. Use the drawdown chart below to compare losses from any high point for PREIX and PRDGX.

Drawdown Indicators

	PREIX	PRDGX	Difference
Max Drawdown Largest peak-to-trough decline	-55.32%	-49.79%	-5.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-7.34%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	-18.78%	-14.15%	-4.63%
Max Drawdown (5Y) Largest decline over 5 years	-24.60%	-19.31%	-5.29%
Max Drawdown (10Y) Largest decline over 10 years	-33.81%	-33.18%	-0.63%
Current Drawdown Current decline from peak	-1.37%	-0.33%	-1.04%
Average Drawdown Average peak-to-trough decline	-8.72%	-5.41%	-3.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.79%	+0.18%

Volatility

PREIX vs. PRDGX - Volatility Comparison

T. Rowe Price Equity Index 500 Fund (PREIX) has a higher volatility of 4.77% compared to T. Rowe Price Dividend Growth Fund, Inc. (PRDGX) at 2.77%. This indicates that PREIX's price experiences larger fluctuations and is considered to be riskier than PRDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PREIX	PRDGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	2.77%	+2.00%
Volatility (6M) Calculated over the trailing 6-month period	9.91%	7.69%	+2.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.48%	9.85%	+2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.09%	14.08%	+3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.15%	15.89%	+2.26%

PREIX vs. PRDGX - Expense Ratio Comparison

PREIX has a 0.15% expense ratio, which is lower than PRDGX's 0.64% expense ratio.

Dividends

PREIX vs. PRDGX - Dividend Comparison

PREIX's dividend yield for the trailing twelve months is around 2.13%, less than PRDGX's 7.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRDGX T. Rowe Price Dividend Growth Fund, Inc.	7.47%	8.02%	4.66%	2.78%	3.81%	2.00%	1.03%	2.33%	3.67%	1.82%	3.07%	7.57%
PREIX T. Rowe Price Equity Index 500 Fund	2.13%	2.32%	1.17%	1.32%	1.50%	1.56%	1.97%	2.13%	2.60%	1.30%	2.03%	2.02%

Frequently Asked Questions

Can I hold both PREIX and PRDGX in my portfolio?

PREIX and PRDGX 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.

Which is riskier, PREIX or PRDGX?

PREIX has higher volatility (4.77%) compared to PRDGX (2.77%). In terms of maximum drawdown, PREIX dropped -55.32% vs PRDGX's -49.79%.

Which has better risk-adjusted returns?

PREIX currently has the higher Sharpe Ratio (2.15 vs 1.95), 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.