Fund Evaluator:
T. Rowe Price Value (TRVLX)
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Best Performing in Large Value Over the Last Year
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Fund Details
T. Rowe Price Value Overview
T. Rowe Price Value (TRVLX) is an actively managed U.S. Equity Large Value fund. T. Rowe Price launched the fund in 1994.
The investment seeks to provide long-term capital appreciation by investing in common stocks believed to be undervalued; income is a secondary objective. At least 65% of the fund's total assets are normally be invested in common stocks that the portfolio manager regards as undervalued. The fund may purchase stocks issued by companies of any size, but typically focuses its investments on large-cap stocks.
About T. Rowe Price Value (TRVLX)
There are 1 members of the management team with an average tenure of 3.50 years: Ryan Hedrick (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 1000 Value TR USD index with a weighting of 100%. T. Rowe Price Value has 104 securities in its portfolio. The top 10 holdings constitute 24.7% 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 Value is part of the Equity global asset class and is within the U.S. Equity fund group. T. Rowe Price Value has 1.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.2%. There is 1.6% 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 Value has 1.2% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is above the $1 billion average for the Large Value 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.
TRVLX 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 Value expense ratio is above average compared to funds in the Large Value category. T. Rowe Price Value has an expense ratio of 0.71%, which is 23% 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 Value has a portfolio turnover rate of 59%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of June 2026, T. Rowe Price Value returned 2.5%, which earned it a grade of B, as the Large Value category had an average return of 1.6%. 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 Value has a trailing yield of 0.80%, which is below the 1.25% 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 Value Grades
Year to date, the fund has returned 14.7%, 3.6 percentage points better than the category, which translates into a grade of B. The fund has returned 20.9% over the past year (grade of C), 16.8% over the past three years (grade of B) and 9.9% per year over the past five years (grade of D) and 12.0% per year over the past 10 years (grade of B).
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TRVLX 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 |
|
| TRVLX Return (NAV) | 2.5% | 9.9% | 20.9% | 16.8% | 9.9% | 12.0% |
| TRVLX Grade | B | C | C | B | D | B |
| +/- Category | 0.8% | 0.1% | -0.1% | 0.8% | -0.5% | 0.7% |
| Large Value Avg | 1.6% | 9.8% | 21.0% | 15.9% | 10.4% | 11.3% |
| TRVLX Tax Cost Ratio | na | na | 1.2% | 1.4% | 2.0% | 1.7% |
TRVLX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TRVLX Return (NAV) | 14.7% | 12.2% | 15.0% | 12.1% | -11.4% | 29.9% | 10.5% | 26.2% | -9.4% | 18.9% | 11.0% |
| TRVLX Grade | B | D | C | C | F | A | A | C | D | B | F |
| +/- Category | 3.6% | -3.0% | 0.9% | 0.3% | -5.3% | 4.2% | 6.7% | 0.6% | -1.0% | 2.5% | -3.6% |
| Large Value Avg | 11.1% | 15.2% | 14.1% | 11.8% | -6.1% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 12.2% |
| Total Risk Index: | 1.01 - Average |
| Category Risk Index: | 1.01 - Average |
| Category Risk Grade: | C (59% Rank) |
| Beta: | 0.68 |
| R-Squared: | 52% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $33986 Mil |
| Fund Total Assets: | $3,356 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 60% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.5 years | |||
| Average Tenure: 3.5 years | |||
| Managers (Year): Hedrick Ryan (2023) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 104 |
| % in Top 10 Holdings: | 24.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.6% |
Portfolio Allocation |
|
| Domestic Stock: | 97.2% |
| Foreign Stock: | 1.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.2% |
Purchase Information
| Fund Family: | T. Rowe Price |
| Phone Number: | 800-638-5660 |
| Website: | www.troweprice.com |
| Status: | Open |
| Inception Date: | September 30, 1994 |
| 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 (%): | 0.71% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | T. Rowe Price Value |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
