T. Rowe Price Total Equity Market Index Fund (POMIX)
Ticker Symbol:
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Management
Fund Manager
  • E. Frederick Bair, CFA; CPA
  • Managed Fund Since: 05/01/2004
  • Joined Firm On 12/14/1998*
  • B.S., Pennsylvannia State University
  • Ken D. Uematsu, CFA
  • Managed Fund Since: 05/01/2005
  • Joined Firm On 06/05/1997*
  • M.B.A. University of Maryland, Robert H. Smith School of Business

*Firm refers to T. Rowe Price Associates and Affiliates
Quarterly Commentaries
as of 06/30/2015

U.S. stocks generated mixed results in the second quarter. Major indexes reached new all-time highs in May and June but closed below their best levels of the quarter, following a sharp sell-off at the end of June. For most of the period, the market was supported by merger activity, a strengthening economy, and signs that the strong dollar and lower oil prices did not hurt first-quarter corporate earnings as much as initially feared. The equity market was largely unaffected by the likelihood that the Federal Reserve will begin raising short-term interest rates sometime later in 2015.

The Total Equity Market Index Fund returned −0.04% in the quarter compared with 0.13% for the S&P Total Market Index and 0.15% for the Lipper Multi-Cap Core Funds Index. For the 12 months ended June 30, 2015, the fund returned 6.85% versus 7.18% for the S&P Total Market Index and 5.97% for the Lipper Multi-Cap Core Funds Index. The fund's average annual total returns were 6.85%, 17.30%, and 8.12% for the 1-, 5-, and 10-year periods, respectively, as of June 30, 2015. The fund's expense ratio was 0.35% as of its fiscal year ended December 31, 2014.

For up-to-date standardized total returns, including the most recent month-end performance, please click on the Performance tab, above.
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when you sell your shares.
The Total Equity Market Index Fund charges a 0.5% redemption fee on shares held 90 days or less. The performance information shown does not reflect the deduction of the redemption fee; if it did, the performance would be lower.

Benchmark Definitions

The portfolio provides investors exposure to the entire U.S. stock market by tracking the Standard & Poor's Total Market Index, which includes large-, mid-, small-, and micro-cap companies. Health care, one of the largest segments, advanced the most, followed by the consumer discretionary and telecommunications sectors. The performance of the utilities sectors weighted the most on results. Utilities stocks, which often behave like bonds because of their relatively high dividend yields, extended their first-quarter losses as long-term interest rates increased in response to a strengthening economy and the likelihood of a Fed rate hike later this year. Stocks in the energy and industrials sector also hurt results.

The outlook for U.S. equities remains generally positive. However, after a six-year bull market run without a major reversal, we think investors may have grown too complacent about volatility. Nevertheless, shareholders should note that we do not make investment decisions based on market forecasts or prospects for individual companies.

See Glossary for additional details on all data elements.