On the Horizon
2026 Global Market Outlook
AI will continue to drive growth in 2026, but investors will need to be clear-eyed about the risks while exploring growing opportunities in non-tech sectors.
Let's build a confident practice together. Discover investment expertise built on a foundation of active management that investors trust with $1.77 trillion across asset classes.*
Balancing act
Discover expert market insights and asset allocation strategies to navigate opportunity and risk as 2025 draws to a close.
Gain an edge with our best thinking on investments, markets, and retirement
Market shifts. Global news. Retirement trends. Our experts distill the latest movements in the financial world into actionable insights.
The Long View: Interview with Dave Ricks, Chair and CEO, Eli Lilly
On the latest episode of “The Angle,” Eli Lilly CEO Dave Ricks discusses breakthroughs in diabetes, obesity, and Alzheimer’s treatments, the global impact of innovative medicines, and the future of health care.
Explore what's ahead, what's most important, and how our investment teams are responding now.
Go beyond indexes with Active ETFs
Along with convenience, cost effectiveness, and tax efficiency, our ETFs offer the agility of active management to adapt to changing markets.
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Support your clients' goals with a global range of actively managed strategies.
Capital Appreciation Fund
The fund seeks long-term capital appreciation by investing primarily in common stocks. It may also hold fixed income and other securities to help preserve principal value.
QM U.S. Bond ETF
The fund seeks to provide a total return that exceeds the performance of the U.S. investment-grade bond market.
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Your investment process.
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Important Information
*As of September 30, 2025. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates, in addition to SMA Model Delivery.
Risk Considerations: All investments are subject to market risk, including the possible loss of principal. The value approach carries a risk that the market will not recognize a security's intrinsic value for a long time or that a stock judged to be undervalued may actually be appropriately priced. A rise in interest rates typically causes the price of a fixed rate debt instrument to fall and its yield to rise. Conversely, a decline in interest rates typically causes the price of a fixed rate debt instrument to rise and the yield to fall. Active investing may have higher costs than passive investing and may underperform the broad market or passive peers with similar objectives. Past performance cannot guarantee future results.
ETFs are bought and sold at market prices, not NAV. Investors generally incur the cost of the spread between the prices at which shares are bought and sold. Buying and selling shares may result in brokerage commissions, which will reduce returns.
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