PRJIX Fees and Costs — T. Rowe Price New Horizons Fund, Inc., I Class
Data updated: 2026-08-27
The net expense ratio is 0.66%: a 0.63% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $10.9M in broker commissions, 0.0686% of average net assets, and portfolio turnover was 46%.
PRJIX Fees and Expenses
Annual operating expenses and sales charges of PRJIX. Prospectus, as of February 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.63% |
| 12b-1 fee | — |
| Other expenses | 0.03% |
| Gross expense ratio | 0.66% |
| Fee waiver | — |
| Net expense ratio | 0.66% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
PRJIX Costs Over Time
On $10,000 invested in PRJIX, assuming 5% a year before costs, total costs come to $458 over 5 years, cutting the return by 0.77% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.66%) | $69 | $217 | $377 |
| Trading costs (broker commissions) | $7 | $23 | $39 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $251 | $458 |
| Value after costs | $10,423 | $11,325 | $12,305 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
PRJIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0686%
- Total broker commissions: $10.9M
- Bought from dealers (principal trades, not a cost): $779.0M
- Portfolio turnover (prospectus): 46%
- Securities on loan, average value: $44.8M
- Net income from securities lending: $411K (0.003% of average net assets)
PRJIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $999K | 14.19% |
| BOFA SECURITIES, INC. | $899K | 12.77% |
| RBC Capital Markets, LLC | $846K | 12.02% |
| J.P. MORGAN SECURITIES LLC | $794K | 11.29% |
| MORGAN STANLEY & CO. LLC | $786K | 11.16% |
| TD Securities Ltd. | $776K | 11.03% |
| JEFFERIES LLC | $649K | 9.21% |
| Citigroup Inc. | $461K | 6.56% |
| Virtu ITG Hong Kong Limited | $457K | 6.49% |
| BMO Capital Markets Corp. | $373K | 5.29% |
PRJIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $329.4M | 47.19% |
| GOLDMAN SACHS & CO. LLC | $213.9M | 30.64% |
| MORGAN STANLEY & CO. LLC | $32.7M | 4.69% |
| JEFFERIES LLC | $28.8M | 4.13% |
| BOFA SECURITIES, INC. | $25.5M | 3.65% |
| LEERINK PARTNERS LLC | $17.1M | 2.46% |
| Citigroup Inc. | $16.1M | 2.31% |
| PIPER SANDLER & CO. | $14.2M | 2.04% |
| WELLS FARGO SECURITIES, LLC | $11.6M | 1.65% |
| BMO Capital Markets Corp. | $8.6M | 1.23% |
T. Rowe Price New Horizons Fund, Inc. Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TRUZX | Z Class | 0.00% | — |
| PRJIX | I Class | 0.66% | — |
| PRNHX | T. Rowe Price New Horizons Fund, Inc. | 0.80% | — |
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.