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.

What are share classes?

Most of our mutual funds are offered in two share classes: Investor Class and I Class.

Their investment strategies and management teams are identical, but they have different investment minimums and expense ratios.

How much can I save with I Class?

A client with $500,000 exclusively in I Class shares would save, on average, $800 in the first year alone compared with the same amount in Investor Class shares.¹

Why do I Class shares have significantly lower fees?

Since I Class shares require a much higher minimum investment (generally $500,000), they can offer significantly lower fees. This is 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 with 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.

Initial Balance

$50k

$50k $2M

Time Period

30 yrs

5 yrs 50 yrs

$11,867 Additional Account Value

View All I Class Shares

YEAR	INV. CLASS VALUE	I CLASS VALUE	ADDITIONAL ACCOUNT VALUE

As of 6/30/2024. 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 0.50%. 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.

How do I qualify for I Class shares?

Gain preferred entry with the Summit Program.

If you're in our Summit Program's Personal Services tier ($500,000 balance or more) or Enhanced Personal Services tier ($1 million balance or more), you get preferred entry to I Class shares of T. Rowe Price mutual funds at a reduced minimum investment of $50,000 per fund.

Learn About Summit Program

View Your Tier and Benefits

The investment minimum must be satisfied per qualifying fund account. 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.

Invest for your short- and long-term goals.

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Browse funds with I Class shares

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

Explore I Class Shares

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 6/30/2024. 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 0.50% (for an annual of cost of $2,500). 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.

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