The Health Sciences Fund invests in many of the health care sector’s most dynamic companies, enabling investors to share in their impressive growth potential. Our investment professionals constantly analyze the markets and the companies within them to find what we think are the most promising opportunities for our clients in this rapidly growing industry.

Invest in the Health Sciences Fund to:

  • Maximize investment return potential from this vibrant sector.
    Share in the long-term potential of some of the world’s most innovative companies. With substantial opportunities for superior long-term capital appreciation, investing in this fund could help put your goals within reach.
  • Diversify your portfolio.
    Health care is a broad sector that includes companies engaged in the research, development, production, or distribution of health-related products or services. Such diversification can extend the reach of your portfolio while enhancing your return potential.
  • Savings on expenses.
    This fund's low cost relative to peers1 creates value for your investments.
  • Benefit from our strategic investing approach.
    For over 27 years, we’ve been researching health sciences companies and have learned firsthand from independent analysis and on-site evaluations what to look for and what to avoid in this rapidly evolving industry.

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

We dig deeper to uncover more opportunities for you.
Our strategic investing approach takes us beyond the numbers to get the answers needed for your investments.
  • Over 5502 of our investment professionals go out into the field to see firsthand how companies are performing.

  • Our skilled portfolio managers are driven by a passion for exploration and understanding.
  • We seek returns that go beyond the limitations of simply following an index.

Past performance cannot guarantee future results. Due to the fund's concentration in health sciences companies, its share price will be more volatile than that of more diversified funds. Further, these firms are often dependent on government funding and regulation and are vulnerable to product liability lawsuits and competition from low-cost generic products. Diversification cannot assure a profit or protect against loss in down markets.

*Morningstar rated the Health Sciences Fund 4-, 3-, 4-, and 4-stars among 158, 158, 135, and 113 Health funds for the overall rating and the 3-, 5-, and 10-year periods (as applicable) ending 10/31/2023, respectively.

The Morningstar RatingTM 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.

Source for Morningstar data: ©2023 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.

1The fund's expense ratio was 47.37% lower than the Lipper Health/Biotechnology Funds Average (0.80% for the fund versus 1.52% for the category average). The fund's expenses are as of its fiscal year ended 12/31/2022, as shown in the prospectus dated 5/1/2023. Lipper expenses are based on fiscal year-end data available as of 9/30/2023.

2Investment professionals as of 12/31/2022. Figures include T. Rowe Price Associates, Inc. and its investment advisory affiliates including T. Rowe Price Investment Management, Inc.