# T. Rowe Price Real Estate Fund Advisor Class (PAREX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/parex for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: T. Rowe Price · Asset class: Equity - Strategy: Actively Managed · Inception: 2004-12-30 The fund normally invests at least 80% of its net assets in the equity securities of real estate companies. It is likely to maintain a significant portion of assets in real estate investment trusts (REITs). REITs pool money to invest in properties (equity REITs) or mortgages (mortgage REITs). The fund generally invests in equity REITs. It is non-diversified. ## Key Facts | Metric | Value | |---|---| | Price | $12.36 | | Expense Ratio | 1.19% | | AUM (All Share Classes) | $613.7M | | NAV | $12.36 (2026-10-29 close) | | Holdings Count | — | | Distribution Yield (TTM) | 5.89% | | Annual Distribution (TTM) | $0.73 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $11.18 – $13.12 | | Beta | 0.98 | ## Latest Distribution - Amount: $0.0620 /share - Ex-date: 2026-09-28 - Pay date: 2026-09-29 ## Frequently Asked Questions ### What does PAREX invest in? The fund normally invests at least 80% of its net assets in the equity securities of real estate companies. It is likely to maintain a significant portion of assets in real estate investment trusts (REITs). REITs pool money to invest in properties (equity REITs) or mortgages (mortgage REITs). The fund generally invests in equity REITs. It is non-diversified. ### What is the expense ratio of PAREX? T. Rowe Price Real Estate Fund Advisor Class (PAREX) charges an expense ratio of 1.19%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is PAREX? T. Rowe Price Real Estate Fund Advisor Class (PAREX) is one share class of a fund that manages $613.7M across all of its share classes (TRREX reports the same total). Our data does not carry the assets of this share class alone. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is PAREX actively managed or an index fund? PAREX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (PAREX's is 1.19%) in exchange for the discretion to over- or under-weight positions. ### When was PAREX launched? T. Rowe Price Real Estate Fund Advisor Class (PAREX) launched in December 2004 and is managed by T. Rowe Price. ### How has PAREX performed? PAREX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does PAREX pay a dividend? T. Rowe Price Real Estate Fund Advisor Class (PAREX) currently distributes little or no income. Trailing-twelve-month yield is 5.89%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does PAREX pay dividends? T. Rowe Price Real Estate Fund Advisor Class pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is PAREX's dividend yield? PAREX's trailing-twelve-month yield is 5.89%, calculated from the sum of dividends over the past year divided by the current price. ### When is PAREX's next ex-dividend date? The most recently announced ex-dividend date for PAREX was 2026-09-28. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### How much will PAREX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.19% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does PAREX charge its expense ratio? The expense ratio is deducted in tiny daily slices from PAREX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does PAREX cost more than a fund like VOO? PAREX is actively managed (current expense ratio 1.19%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether PAREX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to PAREX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as PAREX (1.19%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/parex - Distribution history: https://www.dividenddata.com/funds/parex/dividend - Holdings & diversification: https://www.dividenddata.com/funds/parex/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/parex/expenses - Peer comparison: https://www.dividenddata.com/funds/parex/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.