# T. Rowe Price Equity Income Fd (PRFDX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/prfdx 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: 1985-10-31 The fund generally commits at least 80% of its net assets (which may include capital acquired through borrowing) to common equities. Its investment strategy focuses predominantly on large-capitalization companies, specifically targeting those with a consistent history of dividend payments or those considered to be undervalued. The investment manager habitually seeks out sizable corporations, and consequently, the fund's dividend yield, which reflects the income distributed, is typically expected to exceed that of the Russell 1000® Value Index. ## Key Facts | Metric | Value | |---|---| | Price | $45.89 | | Expense Ratio | 0.69% | | Assets Under Management | $29.63B | | NAV | $45.89 | | Holdings Count | — | | Distribution Yield (TTM) | 2.24% | | Annual Distribution (TTM) | $1.03 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $36.61 – $46.09 | | Beta | 0.79 | ## Latest Distribution - Amount: $0.1701 /share - Ex-date: 2026-09-28 - Pay date: 2026-09-29 ## Frequently Asked Questions ### What does PRFDX invest in? The fund generally commits at least 80% of its net assets (which may include capital acquired through borrowing) to common equities. Its investment strategy focuses predominantly on large-capitalization companies, specifically targeting those with a consistent history of dividend payments or those considered to be undervalued. The investment manager habitually seeks out sizable corporations, and consequently, the fund's dividend yield, which reflects the income distributed, is typically expected to exceed that of the Russell 1000® Value Index. ### What is the expense ratio of PRFDX? T. Rowe Price Equity Income Fd (PRFDX) charges an expense ratio of 0.69%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is PRFDX? T. Rowe Price Equity Income Fd (PRFDX) manages $29.63B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is PRFDX actively managed or an index fund? PRFDX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (PRFDX's is 0.69%) in exchange for the discretion to over- or under-weight positions. ### When was PRFDX launched? T. Rowe Price Equity Income Fd (PRFDX) launched in October 1985 and is managed by T. Rowe Price. ### How has PRFDX performed? PRFDX'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 PRFDX pay a dividend? T. Rowe Price Equity Income Fd (PRFDX) currently distributes little or no income. Trailing-twelve-month yield is 2.24%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does PRFDX pay dividends? T. Rowe Price Equity Income Fd pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is PRFDX's dividend yield? PRFDX's trailing-twelve-month yield is 2.24%, calculated from the sum of dividends over the past year divided by the current price. ### When is PRFDX's next ex-dividend date? The most recently announced ex-dividend date for PRFDX 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 PRFDX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.69% 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 PRFDX charge its expense ratio? The expense ratio is deducted in tiny daily slices from PRFDX'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 PRFDX cost more than a fund like VOO? PRFDX is actively managed (current expense ratio 0.69%). 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 PRFDX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to PRFDX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as PRFDX (0.69%) 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/prfdx - Distribution history: https://www.dividenddata.com/funds/prfdx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/prfdx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/prfdx/expenses - Peer comparison: https://www.dividenddata.com/funds/prfdx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.