PRMTX vs. IGV

Last updated Jun 24, 2026

PRMTX (T. Rowe Price Communications & Technology Fund) and IGV (iShares Expanded Tech-Software Sector ETF) are both funds - PRMTX is a Communications Equities fund managed by T. Rowe Price, while IGV is a Technology Equities fund tracking the S&P North American Expanded Technology Software Index. Over the past 10 years, PRMTX returned 15.51%/yr vs 15.70%/yr for IGV. Their correlation of 0.80 suggests significant overlap in exposure. PRMTX charges 0.77%/yr vs 0.39%/yr for IGV.

Performance

PRMTX vs. IGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Communications & Technology Fund (PRMTX) and iShares Expanded Tech-Software Sector ETF (IGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRMTX achieves a 0.18% return, which is significantly higher than IGV's -17.37% return. Both investments have delivered pretty close results over the past 10 years, with PRMTX having a 15.51% annualized return and IGV not far ahead at 15.70%.

PRMTX

• 1D: -1.55%
• 1M: -1.77%
• YTD: 0.18%
• 6M: -0.34%
• 1Y: -0.39%
• 3Y*: 21.97%
• 5Y*: 5.29%
• 10Y*: 15.51%

IGV

• 1D: 0.01%
• 1M: -7.10%
• YTD: -17.37%
• 6M: -19.19%
• 1Y: -17.89%
• 3Y*: 9.05%
• 5Y*: 2.37%
• 10Y*: 15.70%

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

PRMTX vs. IGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRMTX T. Rowe Price Communications & Technology Fund	0.18%	6.86%	48.75%	39.30%	-40.90%	9.81%	53.69%	35.69%	-1.85%	33.00%
IGV iShares Expanded Tech-Software Sector ETF	-17.37%	5.56%	23.41%	58.56%	-35.65%	12.30%	52.86%	34.33%	12.44%	42.16%

Correlation

The correlation between PRMTX and IGV is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 13, 2001	0.80

Over the past year, the correlation between PRMTX and IGV has dropped to 0.54 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

PRMTX vs. IGV — Risk / Return Rank

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

PRMTX

PRMTX Risk / Return Rank: 3
PRMTX Sharpe Ratio Rank: 3
PRMTX Sortino Ratio Rank: 3
PRMTX Omega Ratio Rank: 3
PRMTX Calmar Ratio Rank: 3
PRMTX Martin Ratio Rank: 3

IGV

IGV Risk / Return Rank: 4
IGV Sharpe Ratio Rank: 4
IGV Sortino Ratio Rank: 4
IGV Omega Ratio Rank: 4
IGV Calmar Ratio Rank: 5
IGV Martin Ratio Rank: 4

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.

PRMTX vs. IGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Communications & Technology Fund (PRMTX) and iShares Expanded Tech-Software Sector ETF (IGV). 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.

	PRMTX	IGV	Difference
Sharpe ratio: Return per unit of total volatility	0.07	-0.64	+0.70
Sortino ratio: Return per unit of downside risk	0.20	-0.75	+0.96
Omega ratio: Gain probability vs. loss probability	1.02	0.91	+0.11
Calmar ratio: Return relative to maximum drawdown	0.06	-0.49	+0.55
Martin ratio: Return relative to average drawdown	0.14	-1.00	+1.14

PRMTX vs. IGV - Sharpe Ratio Comparison

The current PRMTX Sharpe Ratio is 0.07, which is higher than the IGV Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of PRMTX and IGV, 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

PRMTX vs. IGV - Drawdown Comparison

The maximum PRMTX drawdown since its inception was -66.30%, roughly equal to the maximum IGV drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for PRMTX and IGV.

Drawdown Indicators

	PRMTX	IGV	Difference
Max Drawdown Largest peak-to-trough decline	-66.30%	-63.45%	-2.85%
Max Drawdown (1Y) Largest decline over 1 year	-17.29%	-36.61%	+19.32%
Max Drawdown (3Y) Largest decline over 3 years	-20.69%	-36.61%	+15.92%
Max Drawdown (5Y) Largest decline over 5 years	-47.17%	-45.85%	-1.32%
Max Drawdown (10Y) Largest decline over 10 years	-47.17%	-45.85%	-1.32%
Current Drawdown Current decline from peak	-7.72%	-25.85%	+18.13%
Average Drawdown Average peak-to-trough decline	-13.94%	-14.46%	+0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.39%	17.94%	-10.55%

Volatility

PRMTX vs. IGV - Volatility Comparison

The current volatility for T. Rowe Price Communications & Technology Fund (PRMTX) is 6.66%, while iShares Expanded Tech-Software Sector ETF (IGV) has a volatility of 12.71%. This indicates that PRMTX experiences smaller price fluctuations and is considered to be less risky than IGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRMTX	IGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	12.71%	-6.05%
Volatility (6M) Calculated over the trailing 6-month period	12.36%	24.86%	-12.50%
Volatility (1Y) Calculated over the trailing 1-year period	15.64%	28.27%	-12.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.67%	27.97%	-6.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.98%	26.38%	-5.40%

PRMTX vs. IGV - Expense Ratio Comparison

PRMTX has a 0.77% expense ratio, which is higher than IGV's 0.39% expense ratio.

Dividends

PRMTX vs. IGV - Dividend Comparison

PRMTX's dividend yield for the trailing twelve months is around 25.18%, more than IGV's 0.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGV iShares Expanded Tech-Software Sector ETF	0.02%	0.00%	0.00%	0.01%	0.01%	0.00%	0.35%	0.02%	0.16%	0.09%	0.82%	0.22%
PRMTX T. Rowe Price Communications & Technology Fund	25.18%	25.23%	14.78%	7.74%	17.50%	8.35%	5.29%	2.45%	1.28%	2.35%	2.24%	3.20%

Frequently Asked Questions

Can I hold both PRMTX and IGV in my portfolio?

PRMTX and IGV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRMTX or IGV?

IGV has higher volatility (12.71%) compared to PRMTX (6.66%). In terms of maximum drawdown, PRMTX dropped -66.30% vs IGV's -63.45%.

Which has better risk-adjusted returns?

PRMTX currently has the higher Sharpe Ratio (0.07 vs -0.64), 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.