RPMGX vs. PESPX

Last updated Jun 24, 2026

RPMGX (T. Rowe Price Mid-Cap Growth Fund) and PESPX (BNY Mellon MidCap Index Fund) are both mutual funds - RPMGX is a Mid Cap Growth Equities fund managed by T. Rowe Price, while PESPX is a Mid Cap Blend Equities fund managed by BNY Mellon. Over the past 10 years, RPMGX returned 11.37%/yr vs 11.42%/yr for PESPX. Their correlation of 0.93 suggests significant overlap in exposure. RPMGX charges 0.72%/yr vs 0.50%/yr for PESPX.

Performance

RPMGX vs. PESPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Mid-Cap Growth Fund (RPMGX) and BNY Mellon MidCap Index Fund (PESPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPMGX achieves a 1.94% return, which is significantly lower than PESPX's 15.54% return. Both investments have delivered pretty close results over the past 10 years, with RPMGX having a 11.37% annualized return and PESPX not far ahead at 11.42%.

RPMGX

• 1D: 0.19%
• 1M: 0.91%
• YTD: 1.94%
• 6M: 0.62%
• 1Y: 6.25%
• 3Y*: 12.05%
• 5Y*: 4.75%
• 10Y*: 11.37%

PESPX

• 1D: 0.42%
• 1M: 3.73%
• YTD: 15.54%
• 6M: 13.43%
• 1Y: 25.78%
• 3Y*: 15.07%
• 5Y*: 7.89%
• 10Y*: 11.42%

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

RPMGX vs. PESPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPMGX T. Rowe Price Mid-Cap Growth Fund	1.94%	3.65%	21.08%	20.27%	-22.51%	14.94%	24.16%	31.53%	-2.12%	24.80%
PESPX BNY Mellon MidCap Index Fund	15.54%	6.90%	11.88%	14.75%	-13.67%	24.34%	13.30%	40.74%	-10.55%	15.99%

Correlation

The correlation between RPMGX and PESPX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006	0.93

The correlation between RPMGX and PESPX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

RPMGX vs. PESPX — Risk / Return Rank

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

RPMGX

RPMGX Risk / Return Rank: 7
RPMGX Sharpe Ratio Rank: 7
RPMGX Sortino Ratio Rank: 7
RPMGX Omega Ratio Rank: 6
RPMGX Calmar Ratio Rank: 7
RPMGX Martin Ratio Rank: 9

PESPX

PESPX Risk / Return Rank: 49
PESPX Sharpe Ratio Rank: 40
PESPX Sortino Ratio Rank: 41
PESPX Omega Ratio Rank: 37
PESPX Calmar Ratio Rank: 69
PESPX Martin Ratio Rank: 59

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.

RPMGX vs. PESPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Mid-Cap Growth Fund (RPMGX) and BNY Mellon MidCap Index Fund (PESPX). 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.

	RPMGX	PESPX	Difference
Sharpe ratio: Return per unit of total volatility	0.50	1.71	-1.21
Sortino ratio: Return per unit of downside risk	0.82	2.48	-1.65
Omega ratio: Gain probability vs. loss probability	1.09	1.30	-0.21
Calmar ratio: Return relative to maximum drawdown	0.68	3.04	-2.36
Martin ratio: Return relative to average drawdown	2.32	11.03	-8.71

RPMGX vs. PESPX - Sharpe Ratio Comparison

The current RPMGX Sharpe Ratio is 0.50, which is lower than the PESPX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of RPMGX and PESPX, 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

RPMGX vs. PESPX - Drawdown Comparison

The maximum RPMGX drawdown since its inception was -54.66%, smaller than the maximum PESPX drawdown of -61.56%. Use the drawdown chart below to compare losses from any high point for RPMGX and PESPX.

Drawdown Indicators

	RPMGX	PESPX	Difference
Max Drawdown Largest peak-to-trough decline	-54.66%	-61.56%	+6.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.21%	-8.86%	-1.35%
Max Drawdown (3Y) Largest decline over 3 years	-21.52%	-25.18%	+3.66%
Max Drawdown (5Y) Largest decline over 5 years	-32.08%	-25.18%	-6.90%
Max Drawdown (10Y) Largest decline over 10 years	-35.96%	-42.09%	+6.13%
Current Drawdown Current decline from peak	-1.92%	-0.03%	-1.89%
Average Drawdown Average peak-to-trough decline	-6.96%	-10.35%	+3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.44%	+0.57%

Volatility

RPMGX vs. PESPX - Volatility Comparison

T. Rowe Price Mid-Cap Growth Fund (RPMGX) and BNY Mellon MidCap Index Fund (PESPX) have volatilities of 4.39% and 4.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPMGX	PESPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	4.55%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	10.72%	11.68%	-0.96%
Volatility (1Y) Calculated over the trailing 1-year period	13.90%	15.80%	-1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.16%	19.68%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	21.61%	-2.59%

RPMGX vs. PESPX - Expense Ratio Comparison

RPMGX has a 0.72% expense ratio, which is higher than PESPX's 0.50% expense ratio.

Dividends

RPMGX vs. PESPX - Dividend Comparison

RPMGX's dividend yield for the trailing twelve months is around 6.23%, less than PESPX's 10.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PESPX BNY Mellon MidCap Index Fund	10.60%	12.24%	11.73%	8.19%	16.04%	15.10%	11.21%	21.60%	14.61%	9.22%	1.09%	1.34%
RPMGX T. Rowe Price Mid-Cap Growth Fund	6.23%	6.35%	20.43%	6.35%	2.60%	10.52%	4.53%	5.29%	12.12%	8.04%	3.45%	9.51%

Frequently Asked Questions

Can I hold both RPMGX and PESPX in my portfolio?

With a correlation of 0.90, RPMGX and PESPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RPMGX or PESPX?

PESPX has higher volatility (4.55%) compared to RPMGX (4.39%). In terms of maximum drawdown, RPMGX dropped -54.66% vs PESPX's -61.56%.

Which has better risk-adjusted returns?

PESPX currently has the higher Sharpe Ratio (1.71 vs 0.50), 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.