Fund Evaluator:

T. Rowe Price Instl Small-Cap Stock Overview

T. Rowe Price Instl Small-Cap Stock (TRSSX) is an actively managed U.S. Equity Small Growth fund. T. Rowe Price launched the fund in 2000.

The investment seeks to provide long-term capital growth. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in stocks of small companies. Any derivatives that provide exposure to the investment focus suggested by the fund’s name, or to one or more market risk factors associated with the investment focus suggested by the fund’s name, are counted (as applicable) toward compliance with the fund’s 80% investment policy. While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with its objectives.

About T. Rowe Price Instl Small-Cap Stock (TRSSX)

There are 1 members of the management team with an average tenure of 3.08 years: Alex Roik (2023). 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 2000 TR USD index with a weighting of 100%. T. Rowe Price Instl Small-Cap Stock has 268 securities in its portfolio. The top 10 holdings constitute 19.7% 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 Instl Small-Cap Stock is part of the Equity global asset class and is within the U.S. Equity fund group. T. Rowe Price Instl Small-Cap Stock has 7.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 87.1%. There is 7.3% 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 Instl Small-Cap Stock has 0.6% of the portfolio in cash.

Assets Under Management

The fund has $4 billion in total assets, which is above the $431 million average for the Small Growth 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.

TRSSX 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 Instl Small-Cap Stock expense ratio is above average compared to funds in the Small Growth category. T. Rowe Price Instl Small-Cap Stock has an expense ratio of 0.66%, which is 44% 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 Instl Small-Cap Stock has a portfolio turnover rate of 84%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Small Growth category.

Recently, in the month of July 2026, T. Rowe Price Instl Small-Cap Stock returned -5.8%, which earned it a grade of C, as the Small Growth category had an average return of -6.7%. 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 Instl Small-Cap Stock has a trailing yield of 0.28%, which is above the 0.06% 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 Instl Small-Cap Stock Grades

Year to date, the fund has returned 13.2%, 0.4 percentage points worse than the category, which translates into a grade of C. The fund has returned 21.7% over the past year (grade of C), 12.3% over the past three years (grade of C) and 4.9% per year over the past five years (grade of B) and 11.4% per year over the past 10 years (grade of C).

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