# T. Rowe Price Capital Appreciation Fund I Class (TRAIX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/traix 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: 2015-12-17 The fund's core objective is to generate significant long-term capital growth. Typically, this fund allocates a minimum of 50% of its overall capital to common stocks. The balance of its assets is generally diversified across various debt instruments, such as corporate and government bonds (including those backed by mortgages and other assets), and syndicated bank loans. These bank loans represent a fractional claim on sums due from a borrower to a consortium of financial institutions. Furthermore, it has the discretion to commit up to 25% of its total assets to international securities. ## Key Facts | Metric | Value | |---|---| | Price | $39.13 | | Expense Ratio | 0.58% | | Assets Under Management | $40.32B | | NAV | $39.13 | | Holdings Count | — | | Distribution Yield (TTM) | 8.18% | | Annual Distribution (TTM) | $3.20 /share | | Distribution Frequency | Annual | | 52-Week Range | $33.93 – $39.34 | | Beta | 0.80 | ## Latest Distribution - Amount: $3.2010 /share - Ex-date: 2025-12-17 - Pay date: 2025-12-18 ## Frequently Asked Questions ### What does TRAIX invest in? The fund's core objective is to generate significant long-term capital growth. Typically, this fund allocates a minimum of 50% of its overall capital to common stocks. The balance of its assets is generally diversified across various debt instruments, such as corporate and government bonds (including those backed by mortgages and other assets), and syndicated bank loans. These bank loans represent a fractional claim on sums due from a borrower to a consortium of financial institutions. Furthermore, it has the discretion to commit up to 25% of its total assets to international securities. ### What is the expense ratio of TRAIX? T. Rowe Price Capital Appreciation Fund I Class (TRAIX) charges an expense ratio of 0.58%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is TRAIX? T. Rowe Price Capital Appreciation Fund I Class (TRAIX) manages $40.32B 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 TRAIX actively managed or an index fund? TRAIX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (TRAIX's is 0.58%) in exchange for the discretion to over- or under-weight positions. ### When was TRAIX launched? T. Rowe Price Capital Appreciation Fund I Class (TRAIX) launched in December 2015 and is managed by T. Rowe Price. ### How has TRAIX performed? TRAIX'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 TRAIX pay a dividend? T. Rowe Price Capital Appreciation Fund I Class (TRAIX) currently distributes little or no income. Trailing-twelve-month yield is 8.18%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does TRAIX pay dividends? T. Rowe Price Capital Appreciation Fund I Class pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is TRAIX's dividend yield? TRAIX's trailing-twelve-month yield is 8.18%, calculated from the sum of dividends over the past year divided by the current price. ### When is TRAIX's next ex-dividend date? The most recently announced ex-dividend date for TRAIX was 2025-12-17. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will TRAIX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.58% 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 TRAIX charge its expense ratio? The expense ratio is deducted in tiny daily slices from TRAIX'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 TRAIX cost more than a fund like VOO? TRAIX is actively managed (current expense ratio 0.58%). 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 TRAIX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to TRAIX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as TRAIX (0.58%) 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/traix - Distribution history: https://www.dividenddata.com/funds/traix/dividend - Holdings & diversification: https://www.dividenddata.com/funds/traix/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/traix/expenses - Peer comparison: https://www.dividenddata.com/funds/traix/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.