The investment objective is to provide long-term capital appreciation by investing primarily in mid-size companies believed to be undervalued.
The fund will invest at least 80% of net assets in companies whose market capitalization falls within the range of companies in the S&P MidCap 400 Index or the Russell Midcap Value Index. The fund follows a value approach, seeking to identify companies whose stock prices do not appear to reflect their underlying values.
Click on the risk/reward spectrum below to view the funds in that category
Mid-caps typically offer greater return potential than larger established firms and involve less risk than small-caps. By investing in stocks that already appear to be out of favor or undervalued, the fund should be less volatile than one investing in growth stocks. If, as the manager expects, the underpriced holdings regain favor in the marketplace, their stock prices will rise--providing capital appreciation opportunities.
Earnings of mid-caps tend to fluctuate more than those of larger firms, and small-caps could offer greater return potential. In addition, the value approach carries the risk that a security's intrinsic value may not be recognized for a long time, or the stock may actually be appropriately priced.
**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.