T. Rowe Price Real Assets Fund, Inc.
T. ROWE PRICE REAL ASSETS FUND, INC. · Series S000029428 · 3 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q1
The fund seeks to provide long-term growth of capital.
The fund invests at least 80% of assets in real assets and companies deriving at least 50% of profits or revenues from real assets—including energy, natural resources, real estate, basic materials, utilities, infrastructure, and commodities—selected through bottom-up fundamental analysis to identify high-quality companies expected to outperform during periods of high or rising inflation. The fund maintains significant exposure to real estate through REITs and invests globally across all market capitalizations in both U.S. and non-U.S. companies, including emerging markets. Because security selection depends on the adviser's forecasts of inflation and sector outperformance, fund returns may diverge from broader equity markets.
| Share class | Gross | Net | As of |
|---|---|---|---|
| PRAFX | 0.90% | 0.90% | 2025 Q1 |
| PRIKX | 0.67% | 0.67% | 2025 Q1 |
| TRZRX | 0.65% | 0.00% | 2025 Q1 |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 48.30% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 96.78% |
| Cash & short-term | 2.60% |
| Bonds | 0.68% |
| Derivatives | -0.28% |
Look-through blends 5 underlying funds; 0.425% of NAV was not looked through and stays direct-classified.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Latest quarter
What changed since the fund's previous filing
Largest new: ISHARES CORE US REIT FUND, VANGUARD REAL ESTATE FD, U S TREASURY BILL, ST STRT SPDR S&P OIL & GAS EX & PROD ETF, KEYERA CORP, FIX, TREASURY BILL, MMG LTD
Largest exited: TREASURY BILL, OKE, LNG, ARC RESOURCES LTD, EOG, ALUMINUM CORP OF CHINA LTD-H SHS, HEADWATER EXPLORATION INC, NAC KAZATOMPROM JSC GDR
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +42.82% | +54.75% | +56.07% | 17.45% | -11.55% | |
| +43.13% | +55.79% | +57.91% | 17.47% | -11.54% | |
| +44.11% | +59.08% | +63.38% | 17.48% | -11.29% |
These classes hold the same portfolio, so the 7.31pp spread over 5 years is the cost difference between them — roughly 1.46pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Zero-coupon or unclassified | 97.2% |
| Fixed rate | 2.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 97.2% |
| 1-3y | 2.8% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
This fund filed the credit-spread disclosure and reported no sensitivity — measured, and the answer is none.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| WELL | WELLTOWER INCWELL | 4.03% | $226.97 | $411.06M | 1.8M |
| EQIX | EQUINIX INCEQIX | 3.25% | $1,042.39 | $332.23M | 318.7K |
| PLD | PROLOGIS INCPLD | 2.31% | $135.47 | $236.33M | 1.7M |
| TRPGRIA | T. Rowe Price Government Reserve FundTRPGRIA | 1.92% | — | $195.61M | — |
| — | BHP GROUP LTD | 1.86% | $41.67 | $189.94M | 4.6M |
| SPG | SIMON PROPERTY GROUP INCSPG | 1.64% | $223.65 | $167.37M | 748.3K |
| FCX | FREEPORT-MCMORAN INCFCX | 1.55% | $62.89 | $158.48M | 2.5M |
| VTR | VENTAS INCVTR | 1.50% | $88.80 | $152.91M | 1.7M |
| — | FRANCO-NEVADA CORP | 1.42% | $208.66 | $144.75M | 693.7K |
| — | AGNICO EAGLE MINES LTD | 1.38% | $155.37 | $140.76M | 905.9K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 20.86% of net assets, top 25 36.29%, across 333 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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