PRFDX vs. ^SP500TR

Last updated Apr 2, 2026

Compare and contrast key facts about T. Rowe Price Equity Income Fund (PRFDX) and S&P 500 Total Return (^SP500TR).

PRFDX is managed by T. Rowe Price. It was launched on Oct 31, 1985.

Performance

PRFDX vs. ^SP500TR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Equity Income Fund (PRFDX) and S&P 500 Total Return (^SP500TR). The values are adjusted to include any dividend payments, if applicable.

PRFDX vs. ^SP500TR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRFDX T. Rowe Price Equity Income Fund	0.85%	15.88%	11.85%	9.75%	-3.25%	25.60%	1.28%	33.66%	-9.29%	15.46%
^SP500TR S&P 500 Total Return	-3.64%	17.88%	25.02%	26.29%	-18.11%	28.71%	18.40%	31.49%	-4.38%	21.83%

Returns By Period

In the year-to-date period, PRFDX achieves a 0.85% return, which is significantly higher than ^SP500TR's -3.64% return. Over the past 10 years, PRFDX has underperformed ^SP500TR with an annualized return of 11.10%, while ^SP500TR has yielded a comparatively higher 14.17% annualized return.

PRFDX

• 1D: 1.86%
• 1M: -5.07%
• YTD: 0.85%
• 6M: 5.90%
• 1Y: 12.56%
• 3Y*: 13.03%
• 5Y*: 8.78%
• 10Y*: 11.10%

^SP500TR

• 1D: 0.72%
• 1M: -4.34%
• YTD: -3.64%
• 6M: -1.43%
• 1Y: 18.20%
• 3Y*: 18.60%
• 5Y*: 11.96%
• 10Y*: 14.17%

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

Return for Risk

PRFDX vs. ^SP500TR — Risk / Return Rank

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

PRFDX

PRFDX Risk / Return Rank: 34
PRFDX Sharpe Ratio Rank: 33
PRFDX Sortino Ratio Rank: 32
PRFDX Omega Ratio Rank: 35
PRFDX Calmar Ratio Rank: 34
PRFDX Martin Ratio Rank: 38

^SP500TR

^SP500TR Risk / Return Rank: 72
^SP500TR Sharpe Ratio Rank: 66
^SP500TR Sortino Ratio Rank: 69
^SP500TR Omega Ratio Rank: 74
^SP500TR Calmar Ratio Rank: 67
^SP500TR Martin Ratio Rank: 83

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.

PRFDX vs. ^SP500TR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Equity Income Fund (PRFDX) and S&P 500 Total Return (^SP500TR). 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.

	PRFDX	^SP500TR	Difference
Sharpe ratio Return per unit of total volatility	0.79	1.00	-0.20
Sortino ratio Return per unit of downside risk	1.17	1.52	-0.35
Omega ratio Gain probability vs. loss probability	1.18	1.23	-0.06
Calmar ratio Return relative to maximum drawdown	0.97	1.54	-0.57
Martin ratio Return relative to average drawdown	4.10	7.32	-3.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRFDX vs. ^SP500TR - Sharpe Ratio Comparison

The current PRFDX Sharpe Ratio is 0.79, which is comparable to the ^SP500TR Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of PRFDX and ^SP500TR, 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

	PRFDX	^SP500TR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	1.00	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.71	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.79	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.62	-0.03

Correlation

The correlation between PRFDX and ^SP500TR is 0.89, 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.

Drawdowns

PRFDX vs. ^SP500TR - Drawdown Comparison

The maximum PRFDX drawdown since its inception was -58.12%, which is greater than ^SP500TR's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for PRFDX and ^SP500TR.

Drawdown Indicators

	PRFDX	^SP500TR	Difference
Max Drawdown Largest peak-to-trough decline	-58.12%	-55.25%	-2.87%
Max Drawdown (1Y) Largest decline over 1 year	-12.34%	-12.12%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	-18.08%	-24.49%	+6.41%
Max Drawdown (10Y) Largest decline over 10 years	-39.71%	-33.79%	-5.92%
Current Drawdown Current decline from peak	-5.54%	-5.55%	+0.01%
Average Drawdown Average peak-to-trough decline	-6.28%	-8.20%	+1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	2.55%	+0.35%

Volatility

PRFDX vs. ^SP500TR - Volatility Comparison

The current volatility for T. Rowe Price Equity Income Fund (PRFDX) is 4.24%, while S&P 500 Total Return (^SP500TR) has a volatility of 5.38%. This indicates that PRFDX experiences smaller price fluctuations and is considered to be less risky than ^SP500TR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFDX	^SP500TR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	5.38%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	8.19%	9.55%	-1.36%
Volatility (1Y) Calculated over the trailing 1-year period	15.69%	18.32%	-2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	16.90%	-1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	18.05%	-0.17%