TRVLX vs. VEIRX

Last updated Jun 5, 2026

TRVLX (T. Rowe Price Value Fund) and VEIRX (Vanguard Equity Income Fund Admiral Shares) are both Large Cap Value Equities funds. Over the past 10 years, TRVLX returned 11.58%/yr vs 11.90%/yr for VEIRX. Their correlation of 0.95 suggests significant overlap in exposure. TRVLX charges 0.65%/yr vs 0.19%/yr for VEIRX.

Performance

TRVLX vs. VEIRX - Performance Comparison

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

Returns By Period

In the year-to-date period, TRVLX achieves a 12.04% return, which is significantly higher than VEIRX's 9.19% return. Both investments have delivered pretty close results over the past 10 years, with TRVLX having a 11.58% annualized return and VEIRX not far ahead at 11.90%.

TRVLX

• 1D: 0.00%
• 1M: 0.62%
• YTD: 12.04%
• 6M: 11.75%
• 1Y: 20.96%
• 3Y*: 17.14%
• 5Y*: 9.07%
• 10Y*: 11.58%

VEIRX

• 1D: -0.49%
• 1M: 1.89%
• YTD: 9.19%
• 6M: 9.37%
• 1Y: 23.25%
• 3Y*: 17.43%
• 5Y*: 10.91%
• 10Y*: 11.90%

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

TRVLX vs. VEIRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRVLX T. Rowe Price Value Fund	12.04%	12.20%	14.98%	12.16%	-11.37%	29.86%	10.48%	26.20%	-9.44%	17.35%
VEIRX Vanguard Equity Income Fund Admiral Shares	9.19%	17.25%	14.91%	7.76%	-0.08%	25.49%	3.08%	25.34%	-5.68%	17.68%

Correlation

The correlation between TRVLX and VEIRX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 14, 2001	0.95

The correlation between TRVLX and VEIRX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

Return for Risk

TRVLX vs. VEIRX — Risk / Return Rank

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

TRVLX

TRVLX Risk / Return Rank: 50
TRVLX Sharpe Ratio Rank: 44
TRVLX Sortino Ratio Rank: 45
TRVLX Omega Ratio Rank: 41
TRVLX Calmar Ratio Rank: 60
TRVLX Martin Ratio Rank: 59

VEIRX

VEIRX Risk / Return Rank: 60
VEIRX Sharpe Ratio Rank: 57
VEIRX Sortino Ratio Rank: 57
VEIRX Omega Ratio Rank: 54
VEIRX Calmar Ratio Rank: 70
VEIRX Martin Ratio Rank: 61

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. VEIRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value Fund (TRVLX) and Vanguard Equity Income Fund Admiral Shares (VEIRX). 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.

	TRVLX	VEIRX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.25	-0.30
Sortino ratio: Return per unit of downside risk	2.83	3.20	-0.37
Omega ratio: Gain probability vs. loss probability	1.35	1.41	-0.06
Calmar ratio: Return relative to maximum drawdown	2.97	3.23	-0.25
Martin ratio: Return relative to average drawdown	11.70	12.06	-0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRVLX vs. VEIRX - Sharpe Ratio Comparison

The current TRVLX Sharpe Ratio is 1.95, which is comparable to the VEIRX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of TRVLX and VEIRX, 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

	TRVLX	VEIRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	2.25	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.79	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.73	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.51	+0.10

Drawdowns

TRVLX vs. VEIRX - Drawdown Comparison

The maximum TRVLX drawdown since its inception was -60.22%, which is greater than VEIRX's maximum drawdown of -54.02%. Use the drawdown chart below to compare losses from any high point for TRVLX and VEIRX.

Drawdown Indicators

	TRVLX	VEIRX	Difference
Max Drawdown Largest peak-to-trough decline	-60.22%	-54.02%	-6.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-7.13%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-13.01%	-13.36%	+0.35%
Max Drawdown (5Y) Largest decline over 5 years	-20.35%	-15.12%	-5.23%
Max Drawdown (10Y) Largest decline over 10 years	-38.65%	-35.26%	-3.39%
Current Drawdown Current decline from peak	-0.63%	-0.49%	-0.14%
Average Drawdown Average peak-to-trough decline	-7.51%	-6.50%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	1.91%	-0.14%

Volatility

TRVLX vs. VEIRX - Volatility Comparison

T. Rowe Price Value Fund (TRVLX) and Vanguard Equity Income Fund Admiral Shares (VEIRX) have volatilities of 2.73% and 2.70%, 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

	TRVLX	VEIRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.73%	2.70%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	7.62%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.79%	10.27%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	13.92%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	16.30%	+1.05%

TRVLX vs. VEIRX - Expense Ratio Comparison

TRVLX has a 0.65% expense ratio, which is higher than VEIRX's 0.19% expense ratio.

Dividends

TRVLX vs. VEIRX - Dividend Comparison

TRVLX's dividend yield for the trailing twelve months is around 4.07%, less than VEIRX's 10.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRVLX T. Rowe Price Value Fund	4.07%	4.56%	8.50%	2.97%	10.09%	10.92%	2.33%	1.69%	11.09%	5.89%	3.06%	8.77%
VEIRX Vanguard Equity Income Fund Admiral Shares	10.17%	11.03%	9.83%	7.96%	8.79%	7.71%	2.86%	4.45%	10.98%	3.04%	3.87%	6.48%

Frequently Asked Questions

Can I hold both TRVLX and VEIRX in my portfolio?

TRVLX and VEIRX have a correlation of 0.89, 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 VEIRX?

TRVLX has higher volatility (2.73%) compared to VEIRX (2.70%). In terms of maximum drawdown, TRVLX dropped -60.22% vs VEIRX's -54.02%.

Which has better risk-adjusted returns?

VEIRX currently has the higher Sharpe Ratio (2.25 vs 1.95), 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.