# T. Rowe Price Real Estate (TRREX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/trrex 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: 1997-10-31 The fund typically commits at least 80% of its total assets, including any leverage for investment purposes, to the ownership shares of real estate enterprises. A considerable portion of its portfolio is expected to be allocated to Real Estate Investment Trusts (REITs). These trusts function by pooling capital to acquire either physical properties (known as equity REITs) or mortgage portfolios (termed mortgage REITs). The fund's primary focus within this structure is generally on equity REITs. Notably, it operates as a non-diversified fund. ## Key Facts | Metric | Value | |---|---| | Price | $11.66 | | Expense Ratio | 0.92% | | Assets Under Management | $613.6M | | NAV | $11.66 | | Holdings Count | — | | Distribution Yield (TTM) | 6.57% | | Annual Distribution (TTM) | $0.77 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $10.67 – $12.52 | | Beta | 0.98 | ## Latest Distribution - Amount: $0.0736 /share - Ex-date: 2026-09-28 - Pay date: 2026-09-29 ## Frequently Asked Questions ### What does TRREX invest in? The fund typically commits at least 80% of its total assets, including any leverage for investment purposes, to the ownership shares of real estate enterprises. A considerable portion of its portfolio is expected to be allocated to Real Estate Investment Trusts (REITs). These trusts function by pooling capital to acquire either physical properties (known as equity REITs) or mortgage portfolios (termed mortgage REITs). The fund's primary focus within this structure is generally on equity REITs. Notably, it operates as a non-diversified fund. ### What is the expense ratio of TRREX? T. Rowe Price Real Estate (TRREX) charges an expense ratio of 0.92%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is TRREX? T. Rowe Price Real Estate (TRREX) manages $613.6M 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 TRREX actively managed or an index fund? TRREX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (TRREX's is 0.92%) in exchange for the discretion to over- or under-weight positions. ### When was TRREX launched? T. Rowe Price Real Estate (TRREX) launched in October 1997 and is managed by T. Rowe Price. ### How has TRREX performed? TRREX'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 TRREX pay a dividend? T. Rowe Price Real Estate (TRREX) currently distributes little or no income. Trailing-twelve-month yield is 6.57%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does TRREX pay dividends? T. Rowe Price Real Estate pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is TRREX's dividend yield? TRREX's trailing-twelve-month yield is 6.57%, calculated from the sum of dividends over the past year divided by the current price. ### When is TRREX's next ex-dividend date? The most recently announced ex-dividend date for TRREX 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 TRREX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.92% 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 TRREX charge its expense ratio? The expense ratio is deducted in tiny daily slices from TRREX'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 TRREX cost more than a fund like VOO? TRREX is actively managed (current expense ratio 0.92%). 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 TRREX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to TRREX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as TRREX (0.92%) 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/trrex - Distribution history: https://www.dividenddata.com/funds/trrex/dividend - Holdings & diversification: https://www.dividenddata.com/funds/trrex/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/trrex/expenses - Peer comparison: https://www.dividenddata.com/funds/trrex/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.