Fund Evaluator:

T. Rowe Price Equity Index 500 Overview

T. Rowe Price Equity Index 500 (PREIX) is a passively managed U.S. Equity Large Blend fund. T. Rowe Price launched the fund in 1990.

The investment seeks to track the performance of the S&P 500 Index that measures the investment return of large-capitalization U.S. stocks. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in stocks that are included in its benchmark index. 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.

About T. Rowe Price Equity Index 500 (PREIX)

There are 2 members of the management team with an average tenure of 2.88 years: Neil Smith (2022), Evan Scheiner (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. T. Rowe Price Equity Index 500 has 507 securities in its portfolio. The top 10 holdings constitute 38.4% 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 Equity Index 500 is part of the Equity global asset class and is within the U.S. Equity fund group. T. Rowe Price Equity Index 500 has 0.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.5%. There is 0.4% 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 Equity Index 500 has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $9 billion in total assets, which is above the $6 billion average for the Large 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.

PREIX 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 Equity Index 500 expense ratio is low compared to funds in the Large Blend category. T. Rowe Price Equity Index 500 has an expense ratio of 0.19%, which is 77% 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 Equity Index 500 has a portfolio turnover rate of 3%, indicating that holds its assets around 0.3 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.

Recently, in the month of June 2026, T. Rowe Price Equity Index 500 returned -1.0%, which earned it a grade of D, as the Large Blend category had an average return of -0.2%. 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 Equity Index 500 has a trailing yield of 0.91%, which is above the 0.56% category average. The fund normally distributes its income quarterly 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 Equity Index 500 Grades

Year to date, the fund has returned 10.1%, 1.1 percentage points better than the category, which translates into a grade of B. The fund has returned 22.1% over the past year (grade of B), 20.4% over the past three years (grade of B) and 13.2% per year over the past five years (grade of B) and 15.3% per year over the past 10 years (grade of B).

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