Fund Evaluator:
T. Rowe Price Extended Equity Market Idx (PEXMX)
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Best Performing in Mid-Cap Blend Over the Last Year
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Fund Details
T. Rowe Price Extended Equity Market Idx Overview
T. Rowe Price Extended Equity Market Idx (PEXMX) is a passively managed U.S. Equity Mid-Cap Blend fund. T. Rowe Price launched the fund in 1998.
The investment seeks to track the performance of the S&P Completion Index that measures the investment return of small- and mid-capitalization U.S. stocks. The fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in stocks that are included in its benchmark index. The index is a sub-index of the S&P Total Market Index and consists of all constituents in the S&P Total Market Index that are not also constituents of the S&P 500.
About T. Rowe Price Extended Equity Market Idx (PEXMX)
There are 2 members of the management team with an average tenure of 2.96 years: Neil Smith (2022), Evan Scheiner (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and S&P Completion TR USD index with a weighting of 100%. T. Rowe Price Extended Equity Market Idx has 1576 securities in its portfolio. The top 10 holdings constitute 7.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
T. Rowe Price Extended Equity Market Idx is part of the Equity global asset class and is within the U.S. Equity fund group. T. Rowe Price Extended Equity Market Idx has 1.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.1%. There is 1.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). T. Rowe Price Extended Equity Market Idx has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $1 billion average for the Mid-Cap Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PEXMX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The T. Rowe Price Extended Equity Market Idx expense ratio is below average compared to funds in the Mid-Cap Blend category. T. Rowe Price Extended Equity Market Idx has an expense ratio of 0.24%, which is 75% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. T. Rowe Price Extended Equity Market Idx has a portfolio turnover rate of 15%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Blend category.
Recently, in the month of July 2026, T. Rowe Price Extended Equity Market Idx returned -4.0%, which earned it a grade of D, as the Mid-Cap Blend category had an average return of -1.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
T. Rowe Price Extended Equity Market Idx has a trailing yield of 0.83%, which is above the 0.48% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
T. Rowe Price Extended Equity Market Idx Grades
Year to date, the fund has returned 13.5%, 0.4 percentage points better than the category, which translates into a grade of C. The fund has returned 20.7% over the past year (grade of B), 15.7% over the past three years (grade of A) and 6.1% per year over the past five years (grade of D) and 11.4% per year over the past 10 years (grade of B).
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PEXMX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PEXMX Return (NAV) | -4.0% | 4.7% | 20.7% | 15.7% | 6.1% | 11.4% |
| PEXMX Grade | D | B | B | A | D | B |
| +/- Category | -2.1% | 0.8% | 2.9% | 3.0% | -1.5% | 1.1% |
| Mid-Cap Blend Avg | -1.8% | 3.9% | 17.8% | 12.7% | 7.6% | 10.3% |
| PEXMX Tax Cost Ratio | na | na | 1.1% | 1.3% | 1.8% | 1.6% |
PEXMX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PEXMX Return (NAV) | 13.5% | 11.2% | 16.7% | 25.3% | -26.0% | 12.3% | 30.8% | 27.7% | -9.7% | 18.0% | 16.0% |
| PEXMX Grade | C | B | B | A | F | F | A | C | C | B | C |
| +/- Category | 0.4% | 3.3% | 3.1% | 9.0% | -10.9% | -12.0% | 17.5% | -0.8% | 0.6% | 1.8% | 1.4% |
| Mid-Cap Blend Avg | 13.0% | 7.9% | 13.5% | 16.4% | -15.1% | 24.3% | 13.3% | 28.5% | -10.3% | 16.1% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 18.5% |
| Total Risk Index: | 1.51 - High |
| Category Risk Index: | 1.17 - High |
| Category Risk Grade: | F (95% Rank) |
| Beta: | 1.22 |
| R-Squared: | 74% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1149 Mil |
| Fund Total Assets: | $1,150 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 15% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.6 years | |||
| Average Tenure: 3.0 years | |||
| Managers (Year): Smith Neil (2022), Scheiner Evan (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1576 |
| % in Top 10 Holdings: | 7.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.8% |
Portfolio Allocation |
|
| Domestic Stock: | 98.1% |
| Foreign Stock: | 1.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | T. Rowe Price |
| Phone Number: | 800-638-5660 |
| Website: | www.troweprice.com |
| Status: | Open |
| Inception Date: | January 30, 1998 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.24% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | T. Rowe Price Extended Equity Market Idx |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
