PRULX vs. PRWAX
PRULX (T. Rowe Price U.S. Treasury Long Term Index Fund) and PRWAX (T. Rowe Price All-Cap Opportunities Fund) are both mutual funds - PRULX is a Government Bonds fund managed by T. Rowe Price, while PRWAX is a Large Cap Growth Equities fund actively managed by T. Rowe Price. Over the past 10 years, PRULX returned -1.14%/yr vs 17.02%/yr for PRWAX. Their -0.11 correlation means they have often moved in opposite directions in the past. PRULX charges 0.29%/yr vs 0.76%/yr for PRWAX.
Performance
PRULX vs. PRWAX - Performance Comparison
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Returns By Period
In the year-to-date period, PRULX achieves a -3.51% return, which is significantly lower than PRWAX's 1.42% return. Over the past 10 years, PRULX has underperformed PRWAX with an annualized return of -1.14%, while PRWAX has yielded a comparatively higher 17.02% annualized return.
PRULX
- 1D
- 0.30%
- 1M
- -3.42%
- 6M
- -2.88%
- YTD
- -3.51%
- 1Y
- -0.82%
- 3Y*
- 0.42%
- 5Y*
- -7.37%
- 10Y*
- -1.14%
- ALL TIME*
- 4.98%
PRWAX
- 1D
- 1.65%
- 1M
- 1.14%
- 6M
- 3.07%
- YTD
- 1.42%
- 1Y
- 8.45%
- 3Y*
- 16.55%
- 5Y*
- 9.05%
- 10Y*
- 17.02%
- ALL TIME*
- 11.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PRULX vs. PRWAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRULX T. Rowe Price U.S. Treasury Long Term Index Fund | -3.51% | 6.69% | -5.71% | 2.90% | -30.45% | -5.22% | 18.34% | 22.58% | -1.86% | 8.23% |
PRWAX T. Rowe Price All-Cap Opportunities Fund | 1.42% | 16.37% | 25.24% | 29.02% | -21.37% | 20.63% | 44.73% | 35.08% | 1.26% | 34.51% |
Correlation
The correlation between PRULX and PRWAX is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1990 | -0.11 |
The correlation between PRULX and PRWAX shifts across timeframes, from -0.11 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PRULX vs. PRWAX — Risk / Return Rank
PRULX
PRWAX
PRULX vs. PRWAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price U.S. Treasury Long Term Index Fund (PRULX) and T. Rowe Price All-Cap Opportunities Fund (PRWAX). 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.
| PRULX | PRWAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.13 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 0.74 | -0.84 |
| Martin ratioReturn relative to average drawdown | -0.22 | 2.51 | -2.72 |
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Drawdowns
PRULX vs. PRWAX - Drawdown Comparison
The maximum PRULX drawdown since its inception was -47.40%, smaller than the maximum PRWAX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for PRULX and PRWAX.
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Drawdown Indicators
| PRULX | PRWAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.40% | -55.06% | +7.66% |
Max Drawdown (1Y)Largest decline over 1 year | -7.23% | -14.09% | +6.86% |
Max Drawdown (3Y)Largest decline over 3 years | -13.44% | -19.06% | +5.62% |
Max Drawdown (5Y)Largest decline over 5 years | -42.35% | -29.38% | -12.97% |
Max Drawdown (10Y)Largest decline over 10 years | -47.40% | -30.50% | -16.90% |
Current DrawdownCurrent decline from peak | -38.86% | -0.57% | -38.29% |
Average DrawdownAverage peak-to-trough decline | -9.49% | -9.86% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 4.13% | -0.93% |
Volatility
PRULX vs. PRWAX - Volatility Comparison
The current volatility for T. Rowe Price U.S. Treasury Long Term Index Fund (PRULX) is 2.27%, while T. Rowe Price All-Cap Opportunities Fund (PRWAX) has a volatility of 4.56%. This indicates that PRULX experiences smaller price fluctuations and is considered to be less risky than PRWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRULX | PRWAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.27% | 4.56% | -2.29% |
Volatility (6M)Calculated over the trailing 6-month period | 6.53% | 12.02% | -5.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.82% | 14.66% | -5.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.55% | 17.80% | -3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.92% | 18.76% | -4.84% |
PRULX vs. PRWAX - Expense Ratio Comparison
PRULX has a 0.29% expense ratio, which is lower than PRWAX's 0.76% expense ratio.
Dividends
PRULX vs. PRWAX - Dividend Comparison
PRULX's dividend yield for the trailing twelve months is around 5.18%, less than PRWAX's 8.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRULX T. Rowe Price U.S. Treasury Long Term Index Fund | 5.18% | 5.21% | 4.88% | 3.84% | 2.07% | 1.72% | 20.34% | 16.60% | 2.62% | 2.48% | 4.65% | 5.09% |
PRWAX T. Rowe Price All-Cap Opportunities Fund | 8.23% | 8.35% | 9.22% | 5.10% | 3.11% | 20.51% | 15.44% | 7.01% | 12.58% | 12.30% | 6.19% | 8.84% |
Frequently Asked Questions
PRULX and PRWAX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRWAX has higher volatility (4.56%) compared to PRULX (2.27%). In terms of maximum drawdown, PRULX dropped -47.40% vs PRWAX's -55.06%.
PRWAX currently has the higher Sharpe Ratio (0.71 vs -0.08), 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.
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