RRCOX Fees and Costs — T. Rowe Price U.S. Equity Research Fund, R Class
Data updated: 2026-08-27
The net expense ratio is 1.16%: a 0.32% management fee, a 0.50% 12b-1 fee plus 0.34% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.7M in broker commissions, 0.0185% of average net assets, and portfolio turnover was 47%.
RRCOX Fees and Expenses
Annual operating expenses and sales charges of RRCOX. Prospectus, as of February 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.32% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.16% |
| Fee waiver | — |
| Net expense ratio | 1.16% |
| 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 |
RRCOX Costs Over Time
On $10,000 invested in RRCOX, assuming 5% a year before costs, total costs come to $735 over 5 years, cutting the return by 1.24% 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 1.16%) | $122 | $379 | $657 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $124 | $404 | $735 |
| Value after costs | $10,376 | $11,172 | $12,028 |
| Impact on return, per year | 1.24% | 1.24% | 1.24% |
RRCOX 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): 0.0185%
- Total broker commissions: $2.7M
- Bought from dealers (principal trades, not a cost): $121.5M
- Portfolio turnover (prospectus): 47%
- Securities on loan, average value: $19.4M
- Net income from securities lending: $38K (0.000% of average net assets)
RRCOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $332K | 19.77% |
| Citigroup Inc. | $248K | 14.74% |
| J.P. MORGAN SECURITIES LLC | $205K | 12.18% |
| RBC Capital Markets, LLC | $191K | 11.35% |
| BOFA SECURITIES, INC. | $141K | 8.41% |
| JEFFERIES LLC | $135K | 8.01% |
| BMO Capital Markets Corp. | $118K | 7.01% |
| Robert W. Baird & Co. Incorporated | $106K | 6.29% |
| BARCLAYS CAPITAL INC. | $105K | 6.27% |
| UBS AG | $100K | 5.97% |
RRCOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $41.5M | 35.68% |
| MORGAN STANLEY & CO. LLC | $21.6M | 18.54% |
| BARCLAYS CAPITAL INC. | $14.1M | 12.11% |
| GOLDMAN SACHS & CO. LLC | $13.5M | 11.59% |
| BMO Capital Markets Corp. | $10.7M | 9.23% |
| CITADEL SECURITIES INSTITUTIONAL LLC | $3.4M | 2.91% |
| BOFA SECURITIES, INC. | $3.1M | 2.64% |
| Nomura International PLC | $2.9M | 2.51% |
| RBC Capital Markets, LLC | $2.9M | 2.49% |
| TD Securities Ltd. | $2.7M | 2.30% |
T. Rowe Price U.S. Equity Research Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PCUZX | Z Class | 0.00% | — |
| PCCOX | I Class | 0.34% | — |
| PRCOX | T. Rowe Price U.S. Equity Research Fund | 0.45% | — |
| PACOX | Advisor Class | 0.83% | — |
| RRCOX | R Class | 1.16% | — |
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.