PRNEX vs. PRGTX

Last updated Jun 23, 2026

PRNEX (T. Rowe Price New Era Fund) and PRGTX (T. Rowe Price Global Technology Fund) are both mutual funds - PRNEX is a Energy Equities fund managed by T. Rowe Price, while PRGTX is a Technology Equities fund managed by T. Rowe Price. Over the past 10 years, PRNEX returned 8.18%/yr vs 19.64%/yr for PRGTX. A 0.54 correlation means they provide meaningful diversification when combined. PRNEX charges 0.56%/yr vs 0.95%/yr for PRGTX.

Performance

PRNEX vs. PRGTX - Performance Comparison

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

Returns By Period

In the year-to-date period, PRNEX achieves a 16.19% return, which is significantly lower than PRGTX's 41.85% return. Over the past 10 years, PRNEX has underperformed PRGTX with an annualized return of 8.18%, while PRGTX has yielded a comparatively higher 19.64% annualized return.

PRNEX

• 1D: -0.70%
• 1M: -5.18%
• YTD: 16.19%
• 6M: 16.19%
• 1Y: 29.61%
• 3Y*: 13.59%
• 5Y*: 11.61%
• 10Y*: 8.18%

PRGTX

• 1D: 4.32%
• 1M: 6.93%
• YTD: 41.85%
• 6M: 43.19%
• 1Y: 74.68%
• 3Y*: 38.16%
• 5Y*: 9.93%
• 10Y*: 19.64%

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

PRNEX vs. PRGTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRNEX T. Rowe Price New Era Fund	16.19%	18.85%	4.41%	1.02%	7.14%	25.35%	-2.63%	16.91%	-16.23%	10.57%
PRGTX T. Rowe Price Global Technology Fund	41.85%	27.28%	33.12%	55.92%	-55.53%	8.85%	75.77%	34.22%	-10.07%	47.09%

Correlation

The correlation between PRNEX and PRGTX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.54

Over the past year, the correlation between PRNEX and PRGTX has dropped to 0.32 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

PRNEX vs. PRGTX — Risk / Return Rank

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

PRNEX

PRNEX Risk / Return Rank: 66
PRNEX Sharpe Ratio Rank: 53
PRNEX Sortino Ratio Rank: 48
PRNEX Omega Ratio Rank: 48
PRNEX Calmar Ratio Rank: 91
PRNEX Martin Ratio Rank: 89

PRGTX

PRGTX Risk / Return Rank: 87
PRGTX Sharpe Ratio Rank: 92
PRGTX Sortino Ratio Rank: 77
PRGTX Omega Ratio Rank: 80
PRGTX Calmar Ratio Rank: 96
PRGTX Martin Ratio Rank: 91

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.

PRNEX vs. PRGTX - Risk-Adjusted Trends Comparison

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

	PRNEX	PRGTX	Difference
Sharpe ratio: Return per unit of total volatility	1.99	2.86	-0.87
Sortino ratio: Return per unit of downside risk	2.69	3.36	-0.67
Omega ratio: Gain probability vs. loss probability	1.35	1.48	-0.13
Calmar ratio: Return relative to maximum drawdown	4.55	5.69	-1.14
Martin ratio: Return relative to average drawdown	16.06	16.90	-0.84

PRNEX vs. PRGTX - Sharpe Ratio Comparison

The current PRNEX Sharpe Ratio is 1.99, which is lower than the PRGTX Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of PRNEX and PRGTX, 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

PRNEX vs. PRGTX - Drawdown Comparison

The maximum PRNEX drawdown since its inception was -66.56%, smaller than the maximum PRGTX drawdown of -71.18%. Use the drawdown chart below to compare losses from any high point for PRNEX and PRGTX.

Drawdown Indicators

	PRNEX	PRGTX	Difference
Max Drawdown Largest peak-to-trough decline	-66.56%	-71.18%	+4.62%
Max Drawdown (1Y) Largest decline over 1 year	-6.59%	-13.06%	+6.47%
Max Drawdown (3Y) Largest decline over 3 years	-20.19%	-26.67%	+6.48%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-65.29%	+43.79%
Max Drawdown (10Y) Largest decline over 10 years	-49.64%	-65.29%	+15.65%
Current Drawdown Current decline from peak	-6.59%	-1.62%	-4.97%
Average Drawdown Average peak-to-trough decline	-16.28%	-21.51%	+5.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	4.38%	-2.52%

Volatility

PRNEX vs. PRGTX - Volatility Comparison

The current volatility for T. Rowe Price New Era Fund (PRNEX) is 5.42%, while T. Rowe Price Global Technology Fund (PRGTX) has a volatility of 13.52%. This indicates that PRNEX experiences smaller price fluctuations and is considered to be less risky than PRGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRNEX	PRGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	13.52%	-8.10%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	22.05%	-10.07%
Volatility (1Y) Calculated over the trailing 1-year period	15.10%	25.95%	-10.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.72%	32.17%	-13.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.63%	28.63%	-8.00%

PRNEX vs. PRGTX - Expense Ratio Comparison

PRNEX has a 0.56% expense ratio, which is lower than PRGTX's 0.95% expense ratio.

Dividends

PRNEX vs. PRGTX - Dividend Comparison

PRNEX's dividend yield for the trailing twelve months is around 7.78%, while PRGTX has not paid dividends to shareholders.

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%
PRNEX T. Rowe Price New Era Fund	7.78%	9.04%	4.81%	11.46%	4.47%	2.07%	2.54%	2.18%	1.69%	1.89%	1.28%	2.68%

Frequently Asked Questions

Can I hold both PRNEX and PRGTX in my portfolio?

PRNEX and PRGTX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRNEX or PRGTX?

PRGTX has higher volatility (13.52%) compared to PRNEX (5.42%). In terms of maximum drawdown, PRNEX dropped -66.56% vs PRGTX's -71.18%.

Which has better risk-adjusted returns?

PRGTX currently has the higher Sharpe Ratio (2.86 vs 1.99), 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.