PRNEX Fees and Costs — T. Rowe Price New Era Fund
Data updated: 2026-08-27
The net expense ratio is 0.79%: a 0.53% management fee plus 0.26% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.2M in broker commissions, 0.0508% of average net assets, and portfolio turnover was 39%.
PRNEX Fees and Expenses
Annual operating expenses and sales charges of PRNEX. Prospectus, as of February 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.53% |
| 12b-1 fee | — |
| Other expenses | 0.26% |
| Gross expense ratio | 0.79% |
| Fee waiver | — |
| Net expense ratio | 0.79% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PRNEX Costs Over Time
On $10,000 invested in PRNEX, assuming 5% a year before costs, total costs come to $528 over 5 years, cutting the return by 0.88% 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 0.79%) | $83 | $259 | $450 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $14 | $48 |
| Total costs | $88 | $290 | $528 |
| Value after costs | $10,412 | $11,287 | $12,235 |
| Impact on return, per year | 0.88% | 0.88% | 0.88% |
PRNEX 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): 0.0508%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $30.9M
- Portfolio turnover (prospectus): 39%
- Securities on loan, average value: $41.8M
- Net income from securities lending: $345K (0.014% of average net assets)
PRNEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $138K | 16.80% |
| MORGAN STANLEY & CO. LLC | $131K | 15.87% |
| J.P. MORGAN SECURITIES LLC | $85K | 10.34% |
| JEFFERIES LLC | $81K | 9.88% |
| GOLDMAN SACHS & CO. LLC | $80K | 9.78% |
| Citigroup Inc. | $72K | 8.70% |
| TD Securities Ltd. | $71K | 8.68% |
| Virtu ITG Hong Kong Limited | $69K | 8.36% |
| BMO Capital Markets Corp. | $48K | 5.82% |
| BOFA SECURITIES, INC. | $48K | 5.77% |
PRNEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| COHEN & COMPANY SECURITIES, LLC | $4.8M | 18.63% |
| CANACCORD GENUITY LLC | $3.8M | 14.72% |
| J.P. MORGAN SECURITIES LLC | $3.7M | 14.52% |
| BMO Capital Markets Corp. | $3.4M | 13.27% |
| GOLDMAN SACHS & CO. LLC | $2.4M | 9.39% |
| Cormark Securities Inc. | $2.0M | 7.83% |
| MORGAN STANLEY & CO. LLC | $1.6M | 6.05% |
| HAYWOOD SECURITIES INC. | $1.3M | 5.19% |
| DESJARDINS SECURITIES INC. | $1.3M | 5.19% |
| SCP RESOURCE FINANCE LP | $1.3M | 5.19% |
T. Rowe Price New Era Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TRNEX | I Class | 0.57% | — |
| PRNEX | T. Rowe Price New Era Fund | 0.79% | — |
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.