Science & Technology FundN-restricted

Restricted

Invests in technology companies with the following attributes: potential for real earnings and revenue growth, leading or growing market share, diversify security and industry exposure to reduce volatility.

Potential volatility inherent in an industry: That is highly competitive, where companies that fall short of expectations are often treated harshly by investors.

Morningstar (Category)

Morningstar
(Overall Rating)1

Technology
  (209 funds)

Data as of 05/31/2021

Data as of 05/31/2021

Fund Manager Tenure2

Net Assets3
(USD)

12yrs
$10.0b

Data as of 05/31/2021

Data as of 05/31/2021

Price
(USD)

Daily Price Change

$62.60
$+0.32

Data as of 06/22/2021

Data as of 06/22/2021

Morningstar Ratings™ are based on risk-adjusted returns. Click on "Overall Rating" for the fund's 3-, 5-, and 10-year (if applicable) Morningstar Ratings™.

Ken Allen
Ken Allen, Portfolio Manager

Ken Allen is a portfolio manager in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the Science & Technology Equity Strategy and a vice president and an Investment Advisory Committee member of the US Quantitative U.S., Diversified Mid-Cap Growth Equity, U.S. Mid-Cap Growth Equity, Global Technology Equity, U.S. Large Cap Value Equity and US Quantitative Efficient Strategies  . Ken is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Funds.

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Strategy

Investment Objective

The fund seeks to provide long-term capital appreciation.

Morningstar Equity Style

Large Growth

Data as of 05/31/2021

The Morningstar Style Box™, a proprietary Morningstar data point, is a 9-square grid that provides a graphical representation of the "investment style" of stocks and mutual funds. See disclaimer at bottom of page for more information.

Morningstar Rating

Period Rating Funds In Category (Technology)
Overall 209
3 Years 209
5 Years 181
10 Years 157

The Morningstar Rating™ for funds, or "star rating", is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.

Average Annual Total Returns (Investor Class)

1 YR
86.93%
Benchmark
56.35%
Value
30.58% 15.10%

Data as of 03/31/2021

3 YR
26.39%
Benchmark
16.78%
Value
9.61% 7.54%

Data as of 03/31/2021

5 YR
27.88%
Benchmark
16.29%
Value
11.59% 10.31%

Data as of 03/31/2021

10 YR
18.65%
Benchmark
13.91%
Value
4.74% 4.18%

Data as of 03/31/2021

Benchmark: S&P 500 Index

Fund Inception: 09/30/1987

Expense Ratio

Gross
0.77%
Net
0.77%

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when you sell your shares. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions.

Investors should note that short term returns greater than 40% are highly unusual and unlikely to be sustained.

The gross expense ratio reflects the fund expenses as stated in the fee table of the fund's prospectus prior to the deduction of any waiver or reimbursement. The net expense ratio reflects fund expenses after the deduction of any waiver or reimbursement.  If a fund has an active contractual expense limitation, the expiration date is shown below the gross and net expense ratio values above.  Expense ratios are as of the most recent prospectus.

Current Year Performance (Investor Class)

Daily YTD
13.63%
Benchmark
13.86%
Value
-0.23%

Data as of 06/22/2021

Monthly YTD
11.16%
Benchmark
12.62%
Value
-1.46%

Data as of 05/31/2021

One Month
-1.11%
Benchmark
0.70%
Value
-1.81%

Data as of 05/31/2021

Three Months
4.20%
Benchmark
10.72%
Value
-6.52%

Data as of 05/31/2021

Benchmark: S&P 500 Index

Fund Inception: 09/30/1987

Asset Allocation

Net Assets
(USD)
$10.0b

Data as of 05/31/2021

Largest US Stock 64.59% $6.4b
Other View complete

Holdings

Total
Holdings
58

Data as of 03/31/2021

Largest Holding Alphabet Class C 7.65% Was (12/31/2020) 8.94%
Other View complete Full Holdings
Top 10 Holdings 51.02% View the latest Top 10 Holdings
12-Month Portfolio Turnover 69.7% Data as of 05/31/2021

Largest Contributor

Alphabet
7.65%

Largest Detractor

Salesforce.com
5.20%

Data as of 03/31/2021

Purchase

Amazon.com
4.97%
Was 2.20%

Sale

Booking Holdings
3.26%
Was 5.81%

Data as of 03/31/2021

Sectors

Total
Sectors
11

Data as of 05/31/2021

Benchmark: Lipper Science & Technology Funds Index

Largest Sector Internet 52.14% Was (04/30/2021) 51.87%
Other View complete

Contributor

Internet
By 1.96%
Sector 0.96%
Selection 1.00%

Detractor

Semiconductors
By -0.48%
Sector -0.93%
Selection 0.45%

Data as of 03/31/2021

Over

Internet
By 37.82%
Fund 52.14%
Benchmark 14.33%

Under

Semiconductors
By -13.74%
Fund 10.18%
Benchmark 23.92%

Data as of 05/31/2021

Team (As of )

Ken Allen

Ken Allen
Portfolio Manager

Ken Allen is a portfolio manager in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the Science & Technology Equity Strategy and a vice president and an Investment Advisory Committee member of the US Quantitative U.S., Diversified Mid-Cap Growth Equity, U.S. Mid-Cap Growth Equity, Global Technology Equity, U.S. Large Cap Value Equity and US Quantitative Efficient Strategies  . Ken is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Funds.

  • Fund manager
    since 2008
  • Years at
    T. Rowe Price 20
  • Years investment
    experience 20

For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

How to Invest

View platform information
Share Class Min Initial Investment (USD) Min Subsequent Investment (USD) 12b-1 Fee Expense Ratio
Gross Net Limitation Type Limitation Expiration Date
Investor Class
Cusip 77957M102
$2,500 $100 0.00% 0.77% 0.77% N/A N/A
Advisor Class
Cusip 77957M201
$2,500 $100 0.25% 1.05% 1.05% N/A
N/A
I Class
Cusip 87282N105
$1,000,000* N/A 0.00% 0.65% 0.65% N/A
N/A

* Minimum initial investment $1,000,000. Minimum is generally waived for intermediaries, certain retirement plans, and certain institutional client accounts.

1

© 2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2

Number of years managing the fund.  In the case of co-portfolio management, the longer tenure is displayed.

3

Figure applies to all share classes.

N-restricted

Certain limited exceptions may apply to these scenarios. The funds reserve the right, when in the judgment of T. Rowe Price, it is not adverse to a fund's interest, to permit certain types of investors to open new accounts in a fund, to impose further restrictions, or to close a fund to any additional investments, all without notice.

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