TQSMX vs. PRNHX
TQSMX (T. Rowe Price Integrated US Small-Mid Cap Equity Fund) and PRNHX (T. Rowe Price New Horizons Fund) are both mutual funds - TQSMX is a Small Cap Blend Equities fund actively managed by T. Rowe Price, while PRNHX is a Mid Cap Growth Equities fund managed by T. Rowe Price. Over the past 10 years, TQSMX returned 12.62%/yr vs 14.70%/yr for PRNHX. Their correlation of 0.83 suggests significant overlap in exposure. TQSMX charges 0.87%/yr vs 0.75%/yr for PRNHX.
Performance
TQSMX vs. PRNHX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TQSMX having a 15.15% return and PRNHX slightly lower at 15.06%. Over the past 10 years, TQSMX has underperformed PRNHX with an annualized return of 12.62%, while PRNHX has yielded a comparatively higher 14.70% annualized return.
TQSMX
- 1D
- 1.08%
- 1M
- 3.90%
- YTD
- 15.15%
- 6M
- 15.35%
- 1Y
- 30.46%
- 3Y*
- 20.16%
- 5Y*
- 11.53%
- 10Y*
- 12.62%
PRNHX
- 1D
- 1.21%
- 1M
- 5.05%
- YTD
- 15.06%
- 6M
- 12.99%
- 1Y
- 27.38%
- 3Y*
- 11.94%
- 5Y*
- 1.80%
- 10Y*
- 14.70%
TQSMX vs. PRNHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TQSMX T. Rowe Price Integrated US Small-Mid Cap Equity Fund | 15.15% | 12.75% | 16.34% | 21.72% | -13.07% | 21.85% | 11.68% | 30.19% | -10.91% | 15.44% |
PRNHX T. Rowe Price New Horizons Fund | 15.06% | 3.27% | 8.80% | 21.35% | -36.96% | 9.96% | 58.05% | 56.50% | 3.79% | 31.59% |
Correlation
The correlation between TQSMX and PRNHX is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2016 | 0.83 |
The correlation between TQSMX and PRNHX shifts across timeframes, from 0.83 (10 years) to 0.94 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TQSMX vs. PRNHX — Risk / Return Rank
TQSMX
PRNHX
TQSMX vs. PRNHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Integrated US Small-Mid Cap Equity Fund (TQSMX) and T. Rowe Price New Horizons Fund (PRNHX). 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.
| TQSMX | PRNHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.26 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 2.22 | +0.87 |
| Martin ratioReturn relative to average drawdown | 12.39 | 8.57 | +3.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TQSMX | PRNHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.97 | 1.49 | +0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.07 | +0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.65 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.49 | +0.18 |
Drawdowns
TQSMX vs. PRNHX - Drawdown Comparison
The maximum TQSMX drawdown since its inception was -40.66%, smaller than the maximum PRNHX drawdown of -70.96%. Use the drawdown chart below to compare losses from any high point for TQSMX and PRNHX.
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Drawdown Indicators
| TQSMX | PRNHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.66% | -70.96% | +30.30% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | -13.12% | +2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -23.82% | -26.65% | +2.83% |
Max Drawdown (5Y)Largest decline over 5 years | -23.82% | -48.37% | +24.55% |
Max Drawdown (10Y)Largest decline over 10 years | -40.66% | -48.37% | +7.71% |
Current DrawdownCurrent decline from peak | -0.10% | -11.36% | +11.26% |
Average DrawdownAverage peak-to-trough decline | -5.17% | -18.38% | +13.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 3.39% | -0.81% |
Volatility
TQSMX vs. PRNHX - Volatility Comparison
The current volatility for T. Rowe Price Integrated US Small-Mid Cap Equity Fund (TQSMX) is 5.08%, while T. Rowe Price New Horizons Fund (PRNHX) has a volatility of 6.75%. This indicates that TQSMX experiences smaller price fluctuations and is considered to be less risky than PRNHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TQSMX | PRNHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 6.75% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 12.58% | 15.55% | -2.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.31% | 19.51% | -3.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.53% | 24.58% | -5.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 22.83% | -2.48% |
TQSMX vs. PRNHX - Expense Ratio Comparison
TQSMX has a 0.87% expense ratio, which is higher than PRNHX's 0.75% expense ratio.
Dividends
TQSMX vs. PRNHX - Dividend Comparison
TQSMX's dividend yield for the trailing twelve months is around 0.99%, less than PRNHX's 10.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRNHX T. Rowe Price New Horizons Fund | 10.30% | 11.85% | 9.82% | 0.00% | 4.72% | 17.09% | 13.67% | 23.46% | 13.94% | 8.27% | 5.77% | 7.72% |
TQSMX T. Rowe Price Integrated US Small-Mid Cap Equity Fund | 0.99% | 1.15% | 6.48% | 3.39% | 6.06% | 1.40% | 0.81% | 1.18% | 2.12% | 0.35% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, TQSMX and PRNHX 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.
PRNHX has higher volatility (6.75%) compared to TQSMX (5.08%). In terms of maximum drawdown, TQSMX dropped -40.66% vs PRNHX's -70.96%.
TQSMX currently has the higher Sharpe Ratio (1.97 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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