The fund seeks to provide long-term capital growth through the common stocks of media, technology, and telecommunications companies.
To normally invest at least 80% of net assets in the common stocks of companies engaged in any facet of media and telecommunications including publishing, movies, cable TV, telephone, cellular services, and technology and equipment. Generally, the fund invests in companies in the large- to mid-capitalization range. The fund's investments may be in U.S. or non-U.S. companies.
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This fund offers capital growth potential by investing primarily in stocks of media and telecommunications firms at home and abroad. Through this fund, investors can share in the potentially superior long-term prospects of companies in this segment of the economy. Although it concentrates on a specific sector, it is well diversified through the media and telecommunications universe.
A fund offering substantial upside potential also carries a high level of risk. Due to its concentration on specific industries, and exposure to mid-caps and foreign securities, the fund's share price could be more volatile than that of a fund with a broader investment mandate.
**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.