TRVLX vs. PEXMX

Last updated Jun 24, 2026

TRVLX (T. Rowe Price Value Fund) and PEXMX (T. Rowe Price Extended Equity Market Index Fund) are both mutual funds - TRVLX is a Large Cap Value Equities fund managed by T. Rowe Price, while PEXMX is a Mid Cap Growth Equities fund managed by T. Rowe Price. Over the past 10 years, TRVLX returned 12.21%/yr vs 12.66%/yr for PEXMX. Their correlation of 0.84 suggests significant overlap in exposure. TRVLX charges 0.65%/yr vs 0.23%/yr for PEXMX.

Performance

TRVLX vs. PEXMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Value Fund (TRVLX) and T. Rowe Price Extended Equity Market Index Fund (PEXMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRVLX achieves a 14.49% return, which is significantly lower than PEXMX's 15.23% return. Both investments have delivered pretty close results over the past 10 years, with TRVLX having a 12.21% annualized return and PEXMX not far ahead at 12.66%.

TRVLX

• 1D: 0.44%
• 1M: 1.73%
• YTD: 14.49%
• 6M: 13.73%
• 1Y: 22.81%
• 3Y*: 17.65%
• 5Y*: 10.14%
• 10Y*: 12.21%

PEXMX

• 1D: -0.10%
• 1M: 4.28%
• YTD: 15.23%
• 6M: 12.88%
• 1Y: 28.97%
• 3Y*: 20.05%
• 5Y*: 6.31%
• 10Y*: 12.66%

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

TRVLX vs. PEXMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRVLX T. Rowe Price Value Fund	14.49%	12.20%	14.98%	12.16%	-11.37%	29.86%	10.48%	26.20%	-9.44%	17.35%
PEXMX T. Rowe Price Extended Equity Market Index Fund	15.23%	11.17%	16.72%	25.32%	-26.15%	12.09%	30.80%	32.57%	-9.61%	16.63%

Correlation

The correlation between TRVLX and PEXMX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 30, 1998	0.84

The correlation between TRVLX and PEXMX has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.

Return for Risk

TRVLX vs. PEXMX — Risk / Return Rank

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

TRVLX

TRVLX Risk / Return Rank: 70
TRVLX Sharpe Ratio Rank: 66
TRVLX Sortino Ratio Rank: 69
TRVLX Omega Ratio Rank: 59
TRVLX Calmar Ratio Rank: 80
TRVLX Martin Ratio Rank: 77

PEXMX

PEXMX Risk / Return Rank: 48
PEXMX Sharpe Ratio Rank: 40
PEXMX Sortino Ratio Rank: 39
PEXMX Omega Ratio Rank: 36
PEXMX Calmar Ratio Rank: 67
PEXMX Martin Ratio Rank: 56

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.

TRVLX vs. PEXMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value Fund (TRVLX) and T. Rowe Price Extended Equity Market Index Fund (PEXMX). 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.

	TRVLX	PEXMX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	1.72	+0.47
Sortino ratio: Return per unit of downside risk	3.14	2.43	+0.71
Omega ratio: Gain probability vs. loss probability	1.39	1.29	+0.09
Calmar ratio: Return relative to maximum drawdown	3.43	3.02	+0.41
Martin ratio: Return relative to average drawdown	13.48	10.58	+2.90

TRVLX vs. PEXMX - Sharpe Ratio Comparison

The current TRVLX Sharpe Ratio is 2.19, which is comparable to the PEXMX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of TRVLX and PEXMX, 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

TRVLX vs. PEXMX - Drawdown Comparison

The maximum TRVLX drawdown since its inception was -60.22%, roughly equal to the maximum PEXMX drawdown of -57.82%. Use the drawdown chart below to compare losses from any high point for TRVLX and PEXMX.

Drawdown Indicators

	TRVLX	PEXMX	Difference
Max Drawdown Largest peak-to-trough decline	-60.22%	-57.82%	-2.40%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-10.30%	+3.25%
Max Drawdown (3Y) Largest decline over 3 years	-13.01%	-27.01%	+14.00%
Max Drawdown (5Y) Largest decline over 5 years	-20.35%	-36.27%	+15.92%
Max Drawdown (10Y) Largest decline over 10 years	-38.65%	-41.27%	+2.62%
Current Drawdown Current decline from peak	-0.20%	-0.22%	+0.02%
Average Drawdown Average peak-to-trough decline	-7.49%	-13.60%	+6.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	2.90%	-1.12%

Volatility

TRVLX vs. PEXMX - Volatility Comparison

The current volatility for T. Rowe Price Value Fund (TRVLX) is 3.48%, while T. Rowe Price Extended Equity Market Index Fund (PEXMX) has a volatility of 6.05%. This indicates that TRVLX experiences smaller price fluctuations and is considered to be less risky than PEXMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRVLX	PEXMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	6.05%	-2.57%
Volatility (6M) Calculated over the trailing 6-month period	8.57%	13.74%	-5.17%
Volatility (1Y) Calculated over the trailing 1-year period	11.08%	18.15%	-7.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.23%	22.56%	-8.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.37%	22.30%	-4.93%

TRVLX vs. PEXMX - Expense Ratio Comparison

TRVLX has a 0.65% expense ratio, which is higher than PEXMX's 0.23% expense ratio.

Dividends

TRVLX vs. PEXMX - Dividend Comparison

TRVLX's dividend yield for the trailing twelve months is around 3.98%, more than PEXMX's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEXMX T. Rowe Price Extended Equity Market Index Fund	3.49%	4.02%	7.64%	3.64%	7.53%	14.87%	2.99%	8.17%	6.67%	4.50%	5.90%	4.81%
TRVLX T. Rowe Price Value Fund	3.98%	4.56%	8.50%	2.97%	10.09%	10.92%	2.33%	1.69%	11.09%	5.89%	3.06%	8.77%

Frequently Asked Questions

Can I hold both TRVLX and PEXMX in my portfolio?

TRVLX and PEXMX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRVLX or PEXMX?

PEXMX has higher volatility (6.05%) compared to TRVLX (3.48%). In terms of maximum drawdown, TRVLX dropped -60.22% vs PEXMX's -57.82%.

Which has better risk-adjusted returns?

TRVLX currently has the higher Sharpe Ratio (2.19 vs 1.72), 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.