The fund will normally invest at least 80% of its net assets
(including any borrowings for investment purposes) in "real assets" and
securities of companies that derive at least 50% of their profits or revenues
from, or commit at least 50% of assets to real assets and activities related
to, real assets. Real assets are defined broadly by the fund and are considered
to include any assets that have physical properties, such as energy and natural
resources, real estate, basic materials, equipment, utilities and
infrastructure, and commodities.
The fund will invest in companies
located throughout the world, and there is no limit on the fund's investments in
foreign securities or emerging markets.
Click on the risk/reward spectrum below to view the funds in that category
The fund offers a professionally managed
allocation of assets, most of which will typically be invested in common stocks.
The fund's goal is to hold a portfolio of securities and other investments
that, over time, should provide some protection against the impact of
Because the fund focuses its investments in certain
industries that involve activities related to energy, natural resources, real
estate, commodities, infrastructure, and other real assets, the fund is more
susceptible to adverse developments affecting one or more of these industries
than a more broadly diversified fund would be and may perform poorly during a
downturn in any of those industries.
Since the fund can invest a
sizable portion of its assets in foreign securities, it will be subject to the
risk that some holdings may lose value because of declining foreign currencies,
adverse political or economic developments overseas, illiquid trading markets,
governmental interference, or regulatory practices that differ from the U.S.
These risks are heightened for the fund's investments in emerging markets.
**This chart displays relative risk of each U.S. mutual fund listed using standard deviation of returns. Those values are provided in the bars at the top of the chart.
Methodology: We evaluate the standard deviation and its resulting placement within a specific risk/return category on an annual basis. A fund is generally placed in a risk/return category based on the 10-year standard deviation of its performance.
If a fund is less than 10 years old, the actual fund performance history is supplemented with the primary prospectus benchmark history to obtain a full 10-year history, or longest time period available up to 10 years.
For an Asset Allocation fund with less than 10 years of performance history, sub-strategy returns are used.
When a sub-strategy is less than 10 years old, the actual sub-strategy performance history is supplemented with benchmark history to obtain a full 10-year history, or longest time period available up to 10 years.
Risk return categories overlap; a fund with a standard deviation in the overlap between two categories, denoted by a plus (+), is placed so that its risk categorization is better aligned with anticipated return characteristics an investor may experience going forward at the discretion of T Rowe Price.
When a fund has a cash-like benchmark, denoted by a double plus (++), its standard deviation is estimated using only available fund returns. If the fund is less than 10 years old, benchmark returns are not used to obtain a full 10-year history because they would artificially suppress the volatility estimate.
All investments are subject to market risk, including the possible loss of principal. Standard deviation of returns, a measure of price volatility, is one measure of risk. Please consult the funds' prospectuses for a more complete discussion of the funds' risks.
See Glossary for additional details on all data elements.
The mutual funds referred to in this website are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. Download a prospectus.