T. Rowe Price Hedged Equity Z (PZHEX)

NASDAQ · Mutual Fund · Delayed Price · Currency is USD

14.15

+0.01 (0.07%)

At close: Sep 18, 2026

Fund Assets	4.05B
Expense Ratio	n/a
Min. Investment	$0.00
Turnover	54.50%
Dividend (ttm)	0.19
Dividend Yield	1.34%
Dividend Growth	-2.66%
Payout Frequency	Annual
Ex-Dividend Date	Dec 11, 2025

Previous Close	14.14
YTD Return	16.27%
1-Year Return	16.27%
5-Year Return	n/a
52-Week Low	12.54
52-Week High	14.39
Beta (5Y)	n/a
Holdings	353
Inception Date	Jul 5, 2023

About PZHEX

T. Rowe Price Hedged Equity Fund Z is an actively managed mutual fund that seeks long‑term capital growth while mitigating downside risk. The strategy primarily invests in a diversified portfolio of U.S. large‑cap equities and layers on a systematic hedging program intended to reduce tail risk during equity market drawdowns and deliver lower volatility than broad equity benchmarks over time. Stock selection is driven by fundamental, bottom‑up research, without a strict growth or value bias, with sector weights largely emerging from security‑level views. To implement its risk management, the fund employs derivatives such as equity options and index and interest rate futures, using these tools both for hedging and efficient portfolio management within its 80% equity‑exposure policy framework. The Z share class is designed for certain advisory clients of T. Rowe Price and affiliated mandates, reflecting an institutional orientation in access and fee arrangements. In multi‑asset contexts, the fund can serve as a core equity sleeve with embedded risk controls, seeking to preserve stock‑selection alpha while moderating the amplitude of market cycles.

Fund Family T. Rowe Price

Category Options Trading

Stock Exchange NASDAQ

Ticker Symbol PZHEX

Share Class -z Class

Index Index is not provided by Management Company

Performance

PZHEX had a total return of 16.27% in the past year, including dividends. Since the fund's inception, the average annual return has been 13.05%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
PHEIX	-i Class	0.49%

Top 10 Holdings

35.06% of assets

Name	Symbol	Weight
NVIDIA Corporation	NVDA	6.33%
T. Rowe Price Government Reserve Fund	TRPGRIA	5.59%
Apple Inc.	AAPL	5.51%
Microsoft Corporation	MSFT	3.78%
Amazon.com, Inc.	AMZN	3.06%
Alphabet Inc.	GOOG	2.90%
Broadcom Inc.	AVGO	2.29%
Alphabet Inc.	GOOGL	2.16%
Micron Technology, Inc.	MU	1.72%
Meta Platforms, Inc.	META	1.71%

View More Holdings

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 11, 2025	$0.843	Dec 12, 2025
Dec 12, 2024	$0.3924	Dec 13, 2024
Dec 13, 2023	$0.070	Dec 14, 2023

Full Dividend History