I Class Shares

A lower-cost share class created to reward our most valued T. Rowe Price clients.

This "I" Offers an incredible value

Fees for I Class shares are 20% lower, on average, than those of our Investor Class shares.

A client with $500,000 exclusively in I Class shares would save, on average, $750 in the first year alone compared to the same amount in Investor Class shares.¹

Why I Class shares have significantly lower fees

I Class and Investor Class are two share classes of the same fund. Their investment strategies are identical, but they have different cost structures. I Class shares require a much higher minimum investment amount (generally $500,000) and offer investors lower fees due to the associated economy of scale.

See how I Class shares keep more of your money working for you.

Over time, the money you save by paying lower fees can grow and generate additional earnings. This compounding process can magnify your returns with I Class shares compared to Investor Class shares and increase the overall value of your investments.

Explore the I Class difference

Select an initial balance and the number of years you would hold the I Class shares to find out how lower-cost I Class shares can contribute to the growth of your investments compared to Investor Class shares.

As of 9/30/2023. This chart is based on hypothetical investments in Investor Classes with an average expense ratio of 0.66% versus I Classes with an average expense ratio of 0.51%. The rate of return is assumed to be 7%. These expense ratios are net of fee waivers. Fund expenses change over time; please refer to our mutual fund prospectuses for complete information about expenses, fees, and other information to consider before investing.

Get preferred access to I Class shares.

Summit Program

Clients assigned to the Personal Services tier ($500,000 Summit balance) or the Enhanced Personal Services tier ($1 million Summit balance) of the Summit Program have preferred access to I Class shares of T. Rowe Price mutual funds with an investment minimum of only $50,000 per fund. The investment minimum must be satisfied per qualifying fund account.

Learn About Summit Program

View Your Benefits

For accounts that do not qualify for the Summit Program the minimum investment amount for I Class shares is generally $500,000 per fund for each account type.

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Browse funds with I Class shares

Research and compare more than 100 funds offering lower cost I Class shares.

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Work with an advisor.

For clients with $250,000 or more in investable assets, the Retirement Advisory Service offers a personalized financial plan, investment recommendations, and access to your advisor at any time.

Explore Retirement Advisory Service

¹As of 9/30/2023. This calculation is based on a hypothetical $500,000 investment in Investor Classes with an average expense ratio of 0.66% (for an annual cost of $3,300) versus I Classes with an average expense ratio of 0.51% (for an annual of cost of $2,550). These expense ratios are net of fee waivers. Fund expenses change over time; please refer to our mutual fund prospectuses for complete information about expenses, fees, and other information to consider before investing.

*Consider all available options, which include remaining with your current retirement plan, rolling over into a new employer's plan or IRA, or cashing out the account value. When deciding between an employer-sponsored plan and IRA, there may be important differences to consider, such as range of investment options, fees and expenses, availability of services, and distribution rules (including differences in applicable taxes and penalties). Depending on your plan's investment options, in some cases, the investment management fees associated with your plan's investment options may be lower than similar investment options offered outside the plan.

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The funds referred to in this website are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. T. Rowe Price Investment Services, Inc., distributor, T. Rowe Price mutual funds and T. Rowe Price ETFs.

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