Investment Capabilities
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In over 85 years, we’ve learned that change is the only constant and curiosity is key. That’s why our solutions are backed by rigorous global research and independent thinking—and why investors trust us with $1.6 trillion across all asset classes.
(As of 03/31/2025)
Every day, our investment professionals collaborate across asset classes, sectors, and geographies to inform our decision-making. We believe this approach leads to better results for you and your clients.
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As of 03/31/2025
Our funds have delivered more return than passive peers, more often than top active managers.
Over the last 20 years, our actively managed funds beat comparable passive peers more often—and with higher returns—than the average of all other active managers, including the five largest. Plus, over 85% of active T. Rowe Price funds have an expense ratio below the average of comparable active funds in their Morningstar category.4
Percentage of periods with better returns than passive peer funds.
Ten-year periods, rolling monthly, over the last 20 years ending 12/31/2024.
T. Rowe Price funds beat comparable passive peer funds 71% of the time. That’s more often than the average of all active managers—including the five largest.
Past performance is no guarantee of future results. View standardized returns and other information about the T. Rowe Price funds in this analysis.
Address a range of client goals with one trusted expert.
Our investment solutions are designed to meet a wide variety of real-life client needs while delivering the value and strong outcomes every client wants.
Equity
Strengthen the key elements of your portfolio with our investment discipline, style consistency, and long-term performance in U.S., international, and sector equities.
Fixed Income
Complex markets require flexibility in fixed income solutions. Help your clients manage risk with strategies that address portfolio stability, income, diversification as well as inflation and rate hedging.
Multi-Asset
Whether you’re looking for asset allocation or risk-based strategies, consulting on portfolios, or insights to inform your own investing, our multi-asset solutions have you covered.
Retirement and Target Date
Rely on our expertise to navigate the evolving retirement landscape. As the largest manager of active target date products in the U.S.,5 over 90% of our Retirement Funds with a 10-year track record beat their 10-year Lipper average as of 12/31/24.6
Providing choice and flexibility across investment vehicles
Our strategies are delivered in multiple ways to help you achieve your clients’ objectives.
Specialized Capabilities
Private Credit
Deliver institutional-quality private credit solutions to income-seeking clients through the T. Rowe Price OHA Select Private Credit Fund (OCREDIT).7
Impact Investing
Help clients invest in a way that aligns with their values. Our impact investments seek to generate compelling returns and positive environmental and/or social impact.
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*Not all strategies are available in all investment vehicles.
“Since 1937, T. Rowe Price has been focused on delivering value, investment results, and service. Our fundamental approach and long-term perspective on investment performance, combined with our global research capabilities, continue to set us apart.”
Rob Sharps
Chief Executive Officer and President
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Asset Allocation Viewpoints
Discover how our Asset Allocation Committee is positioning its portfolios in this popular monthly update.
Overcoming market volatility
Our active management approach helped clients power through market volatility—and come out ahead.
2025 Midyear Market Outlook
The global trading system is being reconfigured before our eyes, with profound implications for financial markets.
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Important Information
For more information on the methodology of this analysis, please visit troweprice.com/complete-performance-study.
Past performance is no guarantee of future results. All investments are subject to risk, including the possible loss of principal. Results from other time periods may differ. Active investing may have higher costs than passive investing and may underperform the broad market or passive peers with similar objectives. Passive investing may lag the performance of actively managed peers as holdings are not reallocated based on changes in market conditions or outlooks on specific securities.
Analysis by T. Rowe Price. Comparable passive funds are (1) mutual funds and exchange-traded funds (ETFs) classified as an “index fund” in the Morningstar Direct database and (2) in the same Morningstar category as the active funds being analyzed. All Active Managers represents the actively managed (non-“index fund”) mutual funds and ETFs in the Morningstar Direct database, excluding those managed by T. Rowe Price. The performance of the T. Rowe Price active funds and the All Active Managers funds were compared against the comparable passive funds using 10-year rolling monthly periods from 1/1/05 to 12/31/24. The analysis was conducted at the Morningstar category level analyzing all open-end funds and ETFs within U.S. Morningstar categories where passive funds are present. Oldest share class returns are used for analysis. Money market funds are excluded from the analysis.
1115 funds covering 9,303 rolling 10-year periods.
2579 funds covering 48,375 rolling 10-year periods. The active assets under management (AUM) as of 12/31/24 across all funds considered in the analysis are aggregated and those funds offered at any point in the analysis period by the largest five active fund managers by AUM, identified by Morningstar, other than T. Rowe Price are grouped together here. Source: Morningstar.
35,562 funds covering 393,259 rolling 10-year periods, excluding T. Rowe Price.
Download a mutual fund prospectus; each includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.
4Data as of 12/31/24. Source: © 2024 Morningstar. Analysis by T. Rowe Price. 107 of 124 T. Rowe Price active, non-money market funds had expense ratios below the average of all active funds in their Morningstar category. Oldest share class used. Active funds are those funds classified as non-index funds in the Morningstar Direct database. The expense ratios used in this analysis are the gross prospectus expense ratios as reported by Morningstar. Some funds have expense limitations in place, so actual fees experienced may have been lower.
5Based on the Morningstar 2022 Target Date Landscape Report.
639 of our 56 retirement funds had a 10-year track record as of 12/31/2024 (includes Investor, I Class, Advisor, and R Class Shares). 37 of these 39 retirement funds (94%) beat their Lipper average for the 10-year period. 38 of 56 (67%), 22 of 42 (52%), and 37 of 39 (94%) of the retirement funds outperformed their Lipper average for the 1-, 3-, and 5-year periods ended 12/31/2024, respectively. Calculations are based on cumulative total return. Not all retirement funds outperformed for all periods. (Source for data: Lipper Inc.)
7OCREDIT seeks to provide the same type of private credit investment solution to individual investors that was previously largely only available to OHA's institutional clients.
The mutual funds referred to in this website are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.
This material is provided for general informational purposes only and is not intended to provide legal, tax, or investment advice. This material does not provide recommendations concerning investments, investment strategies, or account types; it is not individualized to the needs of any specific investor and not intended to suggest any particular investment action is appropriate for you, nor is it intended to serve as the primary basis for investment decision-making.
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