RPTIX vs. TRAIX

Last updated Jun 4, 2026

RPTIX (T. Rowe Price Mid-Cap Growth Fund Class I) and TRAIX (T. Rowe Price Capital Appreciation Fund - I Class) are both mutual funds - RPTIX is a Mid Cap Growth Equities fund tracking the Russell MidCap Growth Index, while TRAIX is a Diversified Portfolio fund actively managed by T. Rowe Price. RPTIX is passively managed, while TRAIX is actively managed. Over the past 10 years, RPTIX returned 9.98%/yr vs 11.38%/yr for TRAIX. Their correlation of 0.87 suggests significant overlap in exposure. RPTIX charges 0.63%/yr vs 0.59%/yr for TRAIX.

Performance

RPTIX vs. TRAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Mid-Cap Growth Fund Class I (RPTIX) and T. Rowe Price Capital Appreciation Fund - I Class (TRAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPTIX achieves a 2.23% return, which is significantly lower than TRAIX's 5.82% return. Over the past 10 years, RPTIX has underperformed TRAIX with an annualized return of 9.98%, while TRAIX has yielded a comparatively higher 11.38% annualized return.

RPTIX

• 1D: -0.22%
• 1M: 1.74%
• YTD: 2.23%
• 6M: 1.82%
• 1Y: 7.84%
• 3Y*: 8.99%
• 5Y*: 3.51%
• 10Y*: 9.98%

TRAIX

• 1D: -0.26%
• 1M: 2.52%
• YTD: 5.82%
• 6M: 5.90%
• 1Y: 15.00%
• 3Y*: 13.63%
• 5Y*: 9.00%
• 10Y*: 11.38%

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

RPTIX vs. TRAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPTIX T. Rowe Price Mid-Cap Growth Fund Class I	2.23%	3.79%	9.48%	20.42%	-22.39%	15.07%	24.31%	31.69%	-1.99%	24.97%
TRAIX T. Rowe Price Capital Appreciation Fund - I Class	5.82%	12.57%	12.64%	19.01%	-11.89%	18.59%	18.28%	24.71%	0.76%	15.45%

Correlation

The correlation between RPTIX and TRAIX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.87

The correlation between RPTIX and TRAIX shifts across timeframes, from 0.74 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

RPTIX vs. TRAIX — Risk / Return Rank

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

RPTIX

RPTIX Risk / Return Rank: 9
RPTIX Sharpe Ratio Rank: 8
RPTIX Sortino Ratio Rank: 9
RPTIX Omega Ratio Rank: 8
RPTIX Calmar Ratio Rank: 9
RPTIX Martin Ratio Rank: 10

TRAIX

TRAIX Risk / Return Rank: 49
TRAIX Sharpe Ratio Rank: 50
TRAIX Sortino Ratio Rank: 51
TRAIX Omega Ratio Rank: 51
TRAIX Calmar Ratio Rank: 42
TRAIX Martin Ratio Rank: 53

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.

RPTIX vs. TRAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Mid-Cap Growth Fund Class I (RPTIX) and T. Rowe Price Capital Appreciation Fund - I Class (TRAIX). 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.

	RPTIX	TRAIX	Difference
Sharpe ratio Return per unit of total volatility	0.67	2.09	-1.43
Sortino ratio Return per unit of downside risk	1.06	3.01	-1.95
Omega ratio Gain probability vs. loss probability	1.12	1.39	-0.27
Calmar ratio Return relative to maximum drawdown	0.89	2.46	-1.58
Martin ratio Return relative to average drawdown	3.06	10.73	-7.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RPTIX vs. TRAIX - Sharpe Ratio Comparison

The current RPTIX Sharpe Ratio is 0.67, which is lower than the TRAIX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of RPTIX and TRAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RPTIX	TRAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	2.09	-1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.71	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.90	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.92	-0.38

Drawdowns

RPTIX vs. TRAIX - Drawdown Comparison

The maximum RPTIX drawdown since its inception was -35.94%, which is greater than TRAIX's maximum drawdown of -26.84%. Use the drawdown chart below to compare losses from any high point for RPTIX and TRAIX.

Drawdown Indicators

	RPTIX	TRAIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.94%	-26.84%	-9.10%
Max Drawdown (1Y) Largest decline over 1 year	-10.17%	-6.30%	-3.87%
Max Drawdown (3Y) Largest decline over 3 years	-23.02%	-16.02%	-7.00%
Max Drawdown (5Y) Largest decline over 5 years	-31.99%	-17.00%	-14.99%
Max Drawdown (10Y) Largest decline over 10 years	-35.94%	-26.84%	-9.10%
Current Drawdown Current decline from peak	-1.64%	-0.45%	-1.19%
Average Drawdown Average peak-to-trough decline	-6.80%	-2.83%	-3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	1.44%	+1.50%

Volatility

RPTIX vs. TRAIX - Volatility Comparison

T. Rowe Price Mid-Cap Growth Fund Class I (RPTIX) has a higher volatility of 3.41% compared to T. Rowe Price Capital Appreciation Fund - I Class (TRAIX) at 1.92%. This indicates that RPTIX's price experiences larger fluctuations and is considered to be riskier than TRAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPTIX	TRAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	1.92%	+1.49%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	5.82%	+4.34%
Volatility (1Y) Calculated over the trailing 1-year period	13.50%	7.41%	+6.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.54%	12.76%	+5.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.72%	12.75%	+5.97%

RPTIX vs. TRAIX - Expense Ratio Comparison

RPTIX has a 0.63% expense ratio, which is higher than TRAIX's 0.59% expense ratio.

Dividends

RPTIX vs. TRAIX - Dividend Comparison

RPTIX's dividend yield for the trailing twelve months is around 6.31%, less than TRAIX's 8.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
RPTIX T. Rowe Price Mid-Cap Growth Fund Class I	6.31%	6.45%	10.24%	6.48%	2.59%	10.67%	4.54%	5.41%	12.28%	8.18%	3.60%
TRAIX T. Rowe Price Capital Appreciation Fund - I Class	8.47%	8.96%	10.52%	4.28%	9.70%	9.35%	8.08%	5.92%	7.57%	6.96%	3.59%

Frequently Asked Questions

Can I hold both RPTIX and TRAIX in my portfolio?

RPTIX and TRAIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPTIX or TRAIX?

RPTIX has higher volatility (3.41%) compared to TRAIX (1.92%). In terms of maximum drawdown, RPTIX dropped -35.94% vs TRAIX's -26.84%.

Which has better risk-adjusted returns?

TRAIX currently has the higher Sharpe Ratio (2.09 vs 0.67), 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.