PRGTX vs. TOWTX

Last updated Jun 4, 2026

PRGTX (T. Rowe Price Global Technology Fund) and TOWTX (Towpath Technology Fund) are both Technology Equities funds. Over the past 5 years, PRGTX returned 12.30%/yr vs 9.99%/yr for TOWTX. A 0.73 correlation means they provide meaningful diversification when combined. PRGTX charges 0.95%/yr vs 1.10%/yr for TOWTX.

Performance

PRGTX vs. TOWTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Global Technology Fund (PRGTX) and Towpath Technology Fund (TOWTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRGTX achieves a 44.18% return, which is significantly higher than TOWTX's 12.62% return.

PRGTX

• 1D: 1.35%
• 1M: 20.72%
• YTD: 44.18%
• 6M: 43.53%
• 1Y: 79.97%
• 3Y*: 40.07%
• 5Y*: 12.30%
• 10Y*: 19.61%

TOWTX

• 1D: -0.29%
• 1M: 9.00%
• YTD: 12.62%
• 6M: 13.62%
• 1Y: 23.12%
• 3Y*: 15.70%
• 5Y*: 9.99%
• 10Y*: —

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

PRGTX vs. TOWTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PRGTX T. Rowe Price Global Technology Fund	44.18%	27.28%	33.12%	55.92%	-55.53%	7.55%
TOWTX Towpath Technology Fund	12.62%	9.55%	12.82%	29.78%	-15.96%	17.73%

Correlation

The correlation between PRGTX and TOWTX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jan 8, 2021	0.73

The correlation between PRGTX and TOWTX shifts across timeframes, from 0.64 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PRGTX vs. TOWTX — Risk / Return Rank

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

PRGTX

PRGTX Risk / Return Rank: 92
PRGTX Sharpe Ratio Rank: 96
PRGTX Sortino Ratio Rank: 88
PRGTX Omega Ratio Rank: 86
PRGTX Calmar Ratio Rank: 96
PRGTX Martin Ratio Rank: 93

TOWTX

TOWTX Risk / Return Rank: 30
TOWTX Sharpe Ratio Rank: 32
TOWTX Sortino Ratio Rank: 29
TOWTX Omega Ratio Rank: 28
TOWTX Calmar Ratio Rank: 30
TOWTX Martin Ratio Rank: 29

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.

PRGTX vs. TOWTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Technology Fund (PRGTX) and Towpath Technology Fund (TOWTX). 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.

	PRGTX	TOWTX	Difference
Sharpe ratio: Return per unit of total volatility	3.57	1.64	+1.93
Sortino ratio: Return per unit of downside risk	4.18	2.24	+1.93
Omega ratio: Gain probability vs. loss probability	1.58	1.28	+0.30
Calmar ratio: Return relative to maximum drawdown	6.32	2.07	+4.26
Martin ratio: Return relative to average drawdown	19.93	6.75	+13.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRGTX vs. TOWTX - Sharpe Ratio Comparison

The current PRGTX Sharpe Ratio is 3.57, which is higher than the TOWTX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of PRGTX and TOWTX, 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

	PRGTX	TOWTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.57	1.64	+1.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.07	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.08	+0.39

Drawdowns

PRGTX vs. TOWTX - Drawdown Comparison

The maximum PRGTX drawdown since its inception was -71.18%, smaller than the maximum TOWTX drawdown of -88.96%. Use the drawdown chart below to compare losses from any high point for PRGTX and TOWTX.

Drawdown Indicators

	PRGTX	TOWTX	Difference
Max Drawdown Largest peak-to-trough decline	-71.18%	-88.96%	+17.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.06%	-11.62%	-1.44%
Max Drawdown (3Y) Largest decline over 3 years	-26.67%	-88.96%	+62.29%
Max Drawdown (5Y) Largest decline over 5 years	-65.29%	-88.96%	+23.67%
Max Drawdown (10Y) Largest decline over 10 years	-65.29%	—	—
Current Drawdown Current decline from peak	0.00%	-84.19%	+84.19%
Average Drawdown Average peak-to-trough decline	-21.54%	-25.19%	+3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	3.55%	+0.58%

Volatility

PRGTX vs. TOWTX - Volatility Comparison

T. Rowe Price Global Technology Fund (PRGTX) has a higher volatility of 8.26% compared to Towpath Technology Fund (TOWTX) at 4.20%. This indicates that PRGTX's price experiences larger fluctuations and is considered to be riskier than TOWTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRGTX	TOWTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.26%	4.20%	+4.06%
Volatility (6M) Calculated over the trailing 6-month period	18.69%	11.28%	+7.41%
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	14.63%	+8.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.80%	146.43%	-114.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.39%	141.02%	-112.63%

PRGTX vs. TOWTX - Expense Ratio Comparison

PRGTX has a 0.95% expense ratio, which is lower than TOWTX's 1.10% expense ratio.

Dividends

PRGTX vs. TOWTX - Dividend Comparison

PRGTX has not paid dividends to shareholders, while TOWTX's dividend yield for the trailing twelve months is around 1.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRGTX T. Rowe Price Global Technology Fund	0.00%	0.00%	0.00%	0.00%	3.28%	27.71%	5.05%	0.15%	24.67%	15.81%	9.46%	10.03%
TOWTX Towpath Technology Fund	1.51%	1.70%	3.55%	0.42%	0.57%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PRGTX and TOWTX in my portfolio?

PRGTX and TOWTX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRGTX or TOWTX?

PRGTX has higher volatility (8.26%) compared to TOWTX (4.20%). In terms of maximum drawdown, PRGTX dropped -71.18% vs TOWTX's -88.96%.

Which has better risk-adjusted returns?

PRGTX currently has the higher Sharpe Ratio (3.57 vs 1.64), 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.