T. Rowe Price Capital Appreciation Fund

Frequently Asked Questions About PRWCX

What does PRWCX invest in?

This fund's primary goal is to achieve substantial capital growth over the long term. It typically commits at least half of its total assets to equities. The remaining portion of its portfolio is generally diversified across convertible securities, various forms of corporate and government debt (including those backed by mortgages and other assets), and bank loans, which represent a share in credit extended by a group of lenders to a borrower. The fund also has the flexibility to invest up to 25% of its assets in international securities.

What is the expense ratio of PRWCX?

T. Rowe Price Capital Appreciation Fund (PRWCX) charges an expense ratio of 0.71%. This is the annual fee deducted from fund assets to cover management and operations.

How big is PRWCX?

T. Rowe Price Capital Appreciation Fund (PRWCX) manages $40.29B 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 PRWCX actively managed or an index fund?

PRWCX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (PRWCX's is 0.71%) in exchange for the discretion to over- or under-weight positions.

When was PRWCX launched?

T. Rowe Price Capital Appreciation Fund (PRWCX) launched in June 1986 and is managed by T. Rowe Price.

How has PRWCX performed?

PRWCX'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.