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PRFDX T. Rowe Price Equity Income

  • Fund
  • PRFDX
  • Price as of: Dec 05, 2016
  • $33.06
  • + $0.16
  • + 0.49%
  • Category
  • Large Cap Value Equities

PRFDX - Profile

Vitals

  • YTD Return 16.2%
  • 3 Yr Annualized Return 4.9%
  • 5 Yr Annualized Return 11.3%
  • Net Assets $21.5 B
  • Holdings in Top 10 20.9%

52 WEEK LOW AND HIGH

$33.06
$25.50
$33.06

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.66%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 27.20%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

Large Cap Value Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Large Value

Distributions

  • YTD Total Return 18.0%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 11.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.98%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name T. Rowe Price Equity Income Fund
  • Fund Family Name T. Rowe Price
  • Inception Date Oct 31, 1985
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager John D. Linehan

Fund Description

The T. Rowe Price Equity Income Fund (PRFDX) has been providing investors with income from equity investments since 1985. The fund aims to invest at least 80% of its assets in large-cap dividend stocks that have a strong dividend history or those that are believed to be undervalued. The latter part of the strategy makes for an interesting fund, as PRFDX goes after value but also some growth, giving investors a bit of both worlds. The fund can also invest in foreign large cap stocks, adding a bit of diversity to its makeup. Finally, bonds and cash make their way into the portfolio, albeit typically in a small allocation.

PRFDX would likely not be used as a core holding in a portfolio but rather as a complementary holding to an already diversified strategy. Investing in large cap stocks helps the fund have a little more stability, but there is always somewhat of a risk when it comes to equity investing. Value investors who can handle the risks of common stock investing are the most appropriate fit for this product. The fund charges 67 basis points for investment and features a minimum investment of $2,500.

PRFDX - Performance

Return Ranking - Trailing

Period PRFDX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 16.2% -49.0% 184.6% 12.13% 1
1 Yr 7.7% -47.2% 21.9% 8.82% 1
3 Yr 4.9% * -15.3% 13.9% 69.72% 4
5 Yr 11.3% * -0.1% 15.0% 55.51% 3
10 Yr 5.2% * -0.5% 8.4% 40.17% 3

* Annualized


Return Ranking - Calendar

Period PRFDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -13.2% -47.3% 0.6% 66.67% 4
2014 -0.1% -46.4% 14.8% 64.32% 4
2013 24.2% -13.6% 45.0% 59.22% 4
2012 14.7% -22.7% 35.8% 24.58% 2
2011 -2.7% -34.9% 13.0% 41.46% 3

Total Return Ranking - Trailing

Period PRFDX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 18.0% -49.0% 191.7% 8.78% 1
1 Yr 7.7% -51.7% 110.4% 7.29% 1
3 Yr 4.9% * -11.2% 19.9% 61.07% 4
5 Yr 11.3% * -0.1% 15.0% 48.90% 3
10 Yr 5.2% * -0.5% 8.4% 38.18% 2

* Annualized


Total Return Ranking - Calendar

Period PRFDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -7.3% -26.0% 5.6% 76.21% 4
2014 8.6% -14.3% 39.5% 82.35% 5
2013 38.8% 0.0% 289.2% 53.53% 3
2012 25.3% 0.0% 528.1% 25.24% 2
2011 -1.1% -84.2% 231.9% 46.67% 3

NAV & Total Return History

PRFDX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

PRFDX Category Low Category High PRFDX % Rank Quintile
Net Assets 21.5 B 273 K 80.8 B 0.95% 1
Number of Holdings 119 1 1006 6.66% 2
Net Assets in Top 10 4.54 B 0 24.7 B 1.05% 1
Weighting of Top 10 20.9% 0.0% 100.1% 25.78% 5

Top 10 Holdings

  1. General Electric Co 1.92%
  2. JPMorgan Chase & Co 3.03%
  3. Exxon Mobil Corp 2.58%
  4. Johnson & Johnson 1.84%
  5. Pfizer Inc 2.17%
  6. Microsoft Corp 2.13%
  7. Boeing Co 1.89%
  8. Johnson Controls International PLC 1.96%
  9. Morgan Stanley 1.72%
  10. Total SA 1.68%

Asset Allocation

Weighting Category Low Category High PRFDX % Rank Quintile
Stocks
97.11% 0.00% 132.95% 13.70% 3
Cash
1.83% -32.95% 100.00% 14.46% 3
Other
0.58% -2.64% 25.55% 5.04% 1
Bonds
0.48% -0.12% 74.66% 2.47% 1
Preferred Stocks
0.00% 0.00% 18.87% 3.24% 5
Convertible Bonds
0.00% 0.00% 6.90% 1.24% 5

Stock Sector Breakdown

Weighting Category Low Category High PRFDX % Rank Quintile
Financial Services
21.68% 0.00% 38.34% 14.68% 3
Technology
11.22% 0.00% 29.49% 15.06% 3
Energy
10.96% 0.00% 29.15% 11.73% 3
Industrials
10.76% 0.00% 31.48% 12.68% 3
Consumer Cyclical
10.67% 0.00% 36.38% 7.44% 2
Healthcare
9.19% 0.00% 29.91% 22.40% 5
Utilities
8.50% -0.70% 76.90% 1.72% 1
Consumer Defense
5.10% -1.44% 27.66% 19.92% 4
Basic Materials
5.08% 0.00% 14.96% 5.43% 1
Communication Services
3.95% -0.70% 12.38% 10.87% 3
Real Estate
0.00% 0.00% 19.44% 18.02% 5

Stock Geographic Breakdown

Weighting Category Low Category High PRFDX % Rank Quintile
US
90.33% 0.00% 132.95% 16.94% 3
Non US
6.78% 0.00% 98.96% 10.85% 2

Bond Sector Breakdown

Weighting Category Low Category High PRFDX % Rank Quintile
Cash & Equivalents
1.83% -32.95% 100.00% 14.37% 3
Corporate
0.47% 0.00% 71.14% 3.52% 1
Securitized
0.00% 0.00% 25.81% 0.67% 5
Derivative
0.00% -0.37% 0.08% 0.19% 5
Municipal
0.00% 0.00% 0.84% 0.48% 5
Government
0.00% 0.00% 26.96% 2.00% 5

Bond Geographic Breakdown

Weighting Category Low Category High PRFDX % Rank Quintile
US
0.41% -0.12% 71.71% 2.47% 1
Non US
0.07% 0.00% 14.49% 1.05% 1

PRFDX - Expenses

Operational Fees

PRFDX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.66% 0.05% 21.67% 19.60% 1
Management Fee 0.53% 0.00% 1.20% 4.28% 2
12b-1 Fee 0.00% 0.00% 1.00% 3.19% 1
Administrative Fee 0.15% 0.00% 0.50% 2.62% 4

Sales Fees

PRFDX Fees (% of AUM) Category Low Category High PRFDX Rank Quintile
Front Load N/A 1.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.50% N/A N/A

Trading Fees

PRFDX Fees (% of AUM) Category Low Category High PRFDX Rank Quintile
Max Redemption Fee N/A 0.50% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PRFDX Fees (% of AUM) Category Low Category High PRFDX Rank Quintile
Turnover 27.20% 0.00% 221.00% 11.80% 2

PRFDX - Distributions

Dividend Yield Analysis

PRFDX Category Low Category High PRFDX % Rank Quintile
Dividend Yield 0.6% 0.00% 3.58% 7.13% 1

Dividend Distribution Analysis

PRFDX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PRFDX Category Low Category High PRFDX % Rank Quintile
Net Income Ratio 1.98% -1.41% 3.83% 8.66% 1

Capital Gain Distribution Analysis

PRFDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

PRFDX - Managers

John D. Linehan

Manager

Start Date

Nov 01, 2015

Tenure

1.0

Tenure Rank

12.1%

Mr. Linehan is Chairman of the Investment Advisory Committee at T. Rowe. He is a large-cap value portfolio manager in the U.S. Equity Division and also co-chair of the Investment Advisory Committee for the Institutional Large-Cap Value Strategy. From February 2010 to June 2014, Mr. Linehan was head of U.S. Equity and chairman of the U.S. Equity Steering Committee. He is a member of the firm's U.S. Equity Steering, Equity Brokerage and Trading Control, and Counterparty Risk Committees. He earned a B.A. from Amherst College and an M.B.A. from Stanford University, where he was the Henry Ford II Scholar, an Arjay Miller Scholar, and the winner of the Alexander A. Robichek Award in finance. Mr. Linehan is a CFA® charterholder.


Tenure Analysis

Category Low

0.0

Category High

38.2

Category Average

6.95

Category Mode

4.8