PHEFX Performance — T. Rowe Price Hedged Equity Fund
Data updated: 2026-08-27
PHEFX returned +6.63% year to date and +13.93% over one year to Jun 2026. The annualised 3-year return is +14.80%. The fund trailed its US Large Blend category average: $100 invested three years ago grew to $151, against $157 for the category, and to $114 over one year, against $118. Volatility over the past three years was 9.40% a year. In the 12 months to Jun 2026 the fund lost a net $33.2M, and assets reached $4.08B.
PHEFX Growth of $100
What $100 invested in T. Rowe Price Hedged Equity Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Large Blend category average over the same months.
| Period | PHEFX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $114 | $118 |
| 3 years (Jul 2023 – Jun 2026) | $151 | $157 |
PHEFX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +6.63% |
| 1 year | +13.93% |
| 3 years (annualised) | +14.80% |
PHEFX Annual Returns
Calendar-year total returns of T. Rowe Price Hedged Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +6.63% |
| 2025 | +11.18% |
| 2024 | +19.01% |
| 2023 (Jul–Dec) | +7.23% |
PHEFX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.2% | +0.1% | −4.1% | +6.7% | +3.3% | −0.5% | — | — | — | — | — | — |
| 2025 | +2.3% | −0.8% | −3.6% | −0.3% | +3.3% | +3.3% | +1.4% | +1.5% | +2.6% | +1.3% | +0.1% | −0.3% |
| 2024 | +2.0% | +4.1% | +2.6% | −3.4% | +3.8% | +3.1% | +1.1% | +2.0% | +1.5% | −1.2% | +4.8% | −2.3% |
| 2023 | — | — | — | — | — | — | +2.8% | −1.1% | −3.5% | −1.2% | +6.6% | +3.8% |
PHEFX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 9.40%
- 3-year Sharpe ratio: 1.10 (vs 4.5% risk-free rate)
- Best month: +6.66% (Apr 2026)
- Worst month: −4.10% (Mar 2026)
PHEFX Fund Flows
Monthly money in and out of T. Rowe Price Hedged Equity Fund, from SEC Form N-PORT.
- 12-month net flow: −$33.2M
- 12-month gross sales (incl. reinvestments): $774.6M
- Sales ÷ redemptions: 0.96×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $16.0M | $53.6M | −$37.6M |
| May 2026 | $87.7M | $128.9M | −$41.2M |
| Apr 2026 | $21.0M | $66.9M | −$46.0M |
| Mar 2026 | $144.4M | $41.3M | $103.1M |
| Feb 2026 | $26.8M | $40.8M | −$14.0M |
| Jan 2026 | $72.6M | $91.5M | −$19.0M |
| Dec 2025 | $269.3M | $66.8M | $202.5M |
| Nov 2025 | $8.9M | $48.8M | −$39.9M |
| Oct 2025 | $29.5M | $60.7M | −$31.2M |
| Sep 2025 | $74.9M | $85.5M | −$10.6M |
| Aug 2025 | $7.2M | $57.7M | −$50.5M |
| Jul 2025 | $16.5M | $65.3M | −$48.9M |
PHEFX Assets Under Management
Net assets of T. Rowe Price Hedged Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $4.08B |
| 2026-03-31 | $3.83B |
| 2025-12-31 | $3.87B |
| 2025-09-30 | $3.92B |
| 2025-06-30 | $3.81B |
| 2025-03-31 | $3.69B |
| 2024-12-31 | $3.81B |
| 2024-09-30 | $3.84B |
| 2024-06-30 | $3.54B |
| 2024-03-31 | $3.46B |
| 2023-12-31 | $3.18B |
| 2023-09-30 | $2.31B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.