Fund Evaluator:
T. Rowe Price Health Sciences (PRHSX)
Follow This Fund
Best Performing in Health Over the Last Year
| 77.3% | Fidelity Advisor Biotechnology Z (FIJYX) |
| 77.1% | Fidelity Advisor Biotechnology I (FBTIX) |
| 71.4% | Eventide Healthcare & Life Sciences N (ETNHX) |
| 71.0% | Fidelity Select Biotechnology (FBIOX) |
| 58.4% | Rydex Biotechnology Inv (RYOIX) |
Fund Details
T. Rowe Price Health Sciences Overview
T. Rowe Price Health Sciences (PRHSX) is an actively managed Sector Equity Health fund. T. Rowe Price launched the fund in 1995.
The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in the common stocks of companies engaged in the research, development, production, or distribution of products or services related to health care, medicine, or the life sciences (collectively termed "health sciences"). While the fund can invest in companies of any size, the majority of fund assets are expected to be invested in large- and mid-capitalization companies.
About T. Rowe Price Health Sciences (PRHSX)
There are 1 members of the management team with an average tenure of 0.25 years: Jeff Holford (2026). 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 Russell 3000 Ind/HC TR USD index with a weighting of 100%. T. Rowe Price Health Sciences has 138 securities in its portfolio. The top 10 holdings constitute 51.6% 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 Health Sciences is part of the Equity global asset class and is within the Sector Equity fund group. T. Rowe Price Health Sciences has 4.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 85.7%. There is 4.4% allocated to foreign stock, and 0.1% 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 0.1% convertible bond). T. Rowe Price Health Sciences has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $6 billion in total assets, which is above the $869 million average for the Health 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.
PRHSX 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 Health Sciences expense ratio is high compared to funds in the Health category. T. Rowe Price Health Sciences has an expense ratio of 0.83%, which is 32% lower than its category average, making the fund expense ratio grade a B. 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 Health Sciences has a portfolio turnover rate of 61%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 61% for the Health category.
Recently, in the month of June 2026, T. Rowe Price Health Sciences returned 8.7%, which earned it a grade of B, as the Health category had an average return of 8.4%. 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 Health Sciences has a trailing yield of 0.11%, which is below the 0.39% 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 Health Sciences Grades
Year to date, the fund has returned 7.3%, 0.3 percentage points worse than the category, which translates into a grade of B. The fund has returned 30.0% over the past year (grade of B), 9.5% over the past three years (grade of B) and 3.8% per year over the past five years (grade of D) and 10.9% per year over the past 10 years (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about T. Rowe Price Health Sciences, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
PRHSX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PRHSX Return (NAV) | 8.7% | 14.4% | 30.0% | 9.5% | 3.8% | 10.9% |
| PRHSX Grade | B | B | B | B | D | B |
| +/- Category | 0.3% | 2.4% | -3.6% | -1.5% | -1.4% | 0.8% |
| Health Avg | 8.4% | 11.9% | 33.6% | 11.0% | 5.2% | 10.0% |
| PRHSX Tax Cost Ratio | na | na | 2.6% | 2.2% | 1.8% | 1.7% |
PRHSX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PRHSX Return (NAV) | 7.3% | 17.7% | 1.8% | 3.1% | -12.2% | 13.3% | 30.1% | 29.1% | 1.2% | 27.9% | -10.3% |
| PRHSX Grade | B | C | C | D | D | B | B | C | C | B | C |
| +/- Category | -0.3% | -2.9% | -0.7% | -2.5% | -2.8% | 4.5% | 5.7% | 0.7% | 0.9% | 4.6% | 0.6% |
| Health Avg | 7.5% | 20.6% | 2.5% | 5.6% | -9.4% | 8.7% | 24.5% | 28.4% | 0.4% | 23.4% | -10.9% |
| Risk Measures | |
| Standard Deviation: | 15.2% |
| Total Risk Index: | 1.25 - Above Average |
| Category Risk Index: | 0.95 - Average |
| Category Risk Grade: | C (51% Rank) |
| Beta: | 0.62 |
| R-Squared: | 26% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $11946 Mil |
| Fund Total Assets: | $6,589 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 62% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 0.3 years | |||
| Average Tenure: 0.3 years | |||
| Managers (Year): Holford Jeff (2026) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 138 |
| % in Top 10 Holdings: | 51.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.4% |
Portfolio Allocation |
|
| Domestic Stock: | 85.7% |
| Foreign Stock: | 4.4% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.1% |
| Other: | 8.5% |
| Cash: | 1.1% |
Purchase Information
| Fund Family: | T. Rowe Price |
| Phone Number: | 800-638-5660 |
| Website: | www.troweprice.com |
| Status: | Open |
| Inception Date: | December 29, 1995 |
| 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 (%): | 0.83% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.21% |
| Share Class: | T. Rowe Price Health Sciences |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
