PRWCX vs. IVV
PRWCX (T. Rowe Price Capital Appreciation Fund) and IVV (iShares Core S&P 500 ETF) are both funds - PRWCX is a Diversified Portfolio fund actively managed by T. Rowe Price, while IVV is a S&P 500 fund tracking the S&P 500 Index. PRWCX is actively managed, while IVV is passively managed. Over the past 10 years, PRWCX returned 11.12%/yr vs 15.47%/yr for IVV. Their correlation of 0.90 suggests significant overlap in exposure. PRWCX charges 0.68%/yr vs 0.03%/yr for IVV.
Performance
PRWCX vs. IVV - Performance Comparison
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Returns By Period
In the year-to-date period, PRWCX achieves a 3.69% return, which is significantly lower than IVV's 9.08% return. Over the past 10 years, PRWCX has underperformed IVV with an annualized return of 11.12%, while IVV has yielded a comparatively higher 15.47% annualized return.
PRWCX
- 1D
- 0.60%
- 1M
- -0.78%
- YTD
- 3.69%
- 6M
- 4.12%
- 1Y
- 11.98%
- 3Y*
- 12.55%
- 5Y*
- 8.27%
- 10Y*
- 11.12%
IVV
- 1D
- 0.55%
- 1M
- -0.85%
- YTD
- 9.08%
- 6M
- 9.43%
- 1Y
- 25.77%
- 3Y*
- 20.95%
- 5Y*
- 13.42%
- 10Y*
- 15.47%
PRWCX vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRWCX T. Rowe Price Capital Appreciation Fund | 3.69% | 12.45% | 12.50% | 18.85% | -12.00% | 18.45% | 18.13% | 24.62% | 0.63% | 15.34% |
IVV iShares Core S&P 500 ETF | 9.08% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -4.49% | 21.75% |
Correlation
The correlation between PRWCX and IVV is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 19, 2000 | 0.90 |
The correlation between PRWCX and IVV has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
PRWCX vs. IVV — Risk / Return Rank
PRWCX
IVV
PRWCX vs. IVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Fund (PRWCX) and iShares Core S&P 500 ETF (IVV). 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.
| PRWCX | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.76 | -0.93 |
| Martin ratioReturn relative to average drawdown | 7.78 | 12.43 | -4.65 |
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Drawdowns
PRWCX vs. IVV - Drawdown Comparison
The maximum PRWCX drawdown since its inception was -41.77%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for PRWCX and IVV.
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Drawdown Indicators
| PRWCX | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.77% | -55.25% | +13.48% |
Max Drawdown (1Y)Largest decline over 1 year | -6.32% | -8.89% | +2.57% |
Max Drawdown (3Y)Largest decline over 3 years | -15.96% | -18.75% | +2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -17.07% | -24.53% | +7.46% |
Max Drawdown (10Y)Largest decline over 10 years | -26.86% | -33.90% | +7.04% |
Current DrawdownCurrent decline from peak | -2.37% | -2.35% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -3.33% | -10.77% | +7.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 1.97% | -0.50% |
Volatility
PRWCX vs. IVV - Volatility Comparison
The current volatility for T. Rowe Price Capital Appreciation Fund (PRWCX) is 2.68%, while iShares Core S&P 500 ETF (IVV) has a volatility of 4.37%. This indicates that PRWCX experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRWCX | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 4.37% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 6.36% | 9.59% | -3.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.72% | 12.28% | -4.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.78% | 16.95% | -4.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.75% | 18.08% | -5.33% |
PRWCX vs. IVV - Expense Ratio Comparison
PRWCX has a 0.68% expense ratio, which is higher than IVV's 0.03% expense ratio.
Dividends
PRWCX vs. IVV - Dividend Comparison
PRWCX's dividend yield for the trailing twelve months is around 8.50%, more than IVV's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 1.08% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
PRWCX T. Rowe Price Capital Appreciation Fund | 8.50% | 8.81% | 10.38% | 4.15% | 9.44% | 9.23% | 7.97% | 5.83% | 7.46% | 6.82% | 3.51% | 9.86% |
Frequently Asked Questions
PRWCX and IVV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVV has higher volatility (4.37%) compared to PRWCX (2.68%). In terms of maximum drawdown, PRWCX dropped -41.77% vs IVV's -55.25%.
IVV currently has the higher Sharpe Ratio (2.00 vs 1.49), 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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