Dec. 31, 2024 |
| T. Rowe Price Spectrum Diversified Equity Fund
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| Spectrum Diversified Equity Fund
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Investment Objective(s)
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The fund seeks long-term
capital appreciation and growth of income with current income a secondary objective.
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| Fees and
Expenses
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This
table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the fund.
You may also incur brokerage commissions and other charges when buying or selling shares of the fund,
which are not reflected in the table or example below.
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| Shareholder
fees (fees paid directly from your investment)
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Shareholder Fees - T. Rowe Price Spectrum Diversified Equity Fund - USD ($)
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Investor Class |
I Class |
| Maximum account fee |
$ 20
|
[1] |
none
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| Annual
fund operating expenses (expenses that you pay each
year as a percentage of the value of your investment)
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| Example
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| This example is
intended to help you compare the cost of investing in the fund with the cost of investing in other mutual
funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then
redeem all of your shares at the end of those periods, that your investment has a 5% return each year,
and that the fund’s operating expenses remain the same. Although your actual costs may be higher or
lower, based on these assumptions your costs would be:
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Expense Example - T. Rowe Price Spectrum Diversified Equity Fund - USD ($)
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Investor Class |
I Class |
| 1 Year |
$ 75
|
$ 59
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| 3 Years |
233
|
186
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| 5 Years |
406
|
324
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| 10 Years |
$ 906
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$ 726
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| Portfolio Turnover
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Portfolio Turnover The
fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over”
its portfolio). A higher portfolio turnover rate may
indicate
higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable
account. These costs, which are not reflected in annual fund operating expenses or in the example, affect
the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was
26.1% of the average value of its portfolio.
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| Principal
Investment Strategies
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The fund normally invests at least 80% of its net assets (plus any borrowings
for investment purposes) in equity securities. Any derivatives that provide exposure to the investment
focus suggested by the fund’s name, or to one or more market risk factors associated with the investment
focus suggested by the fund’s name, are counted (as applicable) toward compliance with the fund’s
80% investment policy. The fund seeks to achieve its objective by primarily investing in a mix of other
T. Rowe Price funds (underlying funds) that focus on various areas of the overall stock markets. The
fund broadly diversifies its assets among underlying funds representing specific market segments by normally
investing in a variety of U.S. equity funds and, from time to time, a money market fund. In addition,
the fund may invest in individual securities on a limited basis. The goal is to maintain broad exposure
to several markets in an attempt to reduce the impact of markets that are declining and to benefit from
strong performance in particular market segments over time. The various underlying funds and any individual
securities focus on the U.S. stock market. The fund’s focus on U.S. stocks is represented by a diversified
mix of underlying funds that employ growth and value investment approaches and consist of small-cap,
mid-cap, and large-cap stocks. The adviser decides how much of the fund’s assets to allocate to particular
underlying funds and asset classes based on the outlook for, and on the relative valuations of, the underlying
funds and the various markets and asset classes in which they invest. The adviser weights such factors
as the outlook for inflation and the global economy; corporate earnings; relative values and prospects
for growth and value stocks, market capitalizations, and certain industries; and the overall outlook
for U.S. stocks. The adviser periodically reviews the mix of underlying funds and the percentages
allocated to them. The fund may sell shares of the underlying funds for a variety of reasons, including
to realize gains, limit losses, or redeploy assets into more promising opportunities.
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| Principal
Risks
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Risk Table - T. Rowe Price Spectrum Diversified Equity Fund
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Risk [Text Block] |
| Risk Lose Money [Member] |
The fund’s share
price fluctuates, which means you could lose money by investing in the fund.
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| Active management/Asset allocation |
Active
management/Asset allocation: The fund’s overall level of risk will directly correspond
to the risks of the underlying funds in which it invests. By investing in many underlying funds, the
fund
has partial exposure to the risks of different areas of the market. However, the selection of the underlying
funds and the allocation of the fund’s assets among the various asset classes, market sectors, and
investment styles represented by those underlying funds could cause the fund to underperform other funds
with a similar benchmark or investment objective(s).
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| Investments in other funds |
Investments in other funds: The fund bears the
risk that its underlying funds will fail to successfully employ their investment strategies. One or more
underlying fund’s underperformance or failure to meet its investment objective(s) as intended could
cause the fund to underperform similarly managed funds.
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| Market conditions |
Market conditions: The value of the fund’s
investments may decrease, sometimes rapidly or unexpectedly, due to factors affecting an issuer held
by an underlying fund, particular industries, or the overall securities markets. A variety of factors
can increase the volatility of an underlying fund’s holdings and markets generally, including economic,
political, or regulatory developments, recessions, inflation, rapid interest rate changes, war, military
conflict, acts of terrorism, natural disasters, and outbreaks of infectious illnesses or other widespread
public health issues (such as the coronavirus pandemic) and related governmental and public responses
(including sanctions). Certain events may cause instability across global markets, including reduced
liquidity and disruptions in trading markets, while some events may affect certain geographic regions,
countries, sectors, and industries more significantly than others. Government intervention in markets
may impact interest rates, market volatility, and security pricing. These adverse developments may cause
broad declines in market value due to short-term market movements or for significantly longer periods
during more prolonged market downturns.
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| Stock exposure |
Stock exposure: An underlying stock fund’s share price
can fall because of weakness in the overall stock markets, a particular industry, or specific holdings.
Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods.
There is a chance that stock prices overall will decline because stock markets tend to move in cycles,
with periods of rising and falling prices. The value of an underlying stock fund may decline due to general
weakness or volatility in the stock markets, adverse conditions impacting a particular industry or market
sector, or factors affecting an investment style or market capitalization targeted by the fund.
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| Market capitalization |
Market
capitalization: Because the fund invests in certain underlying funds that focus on a particular
market capitalization, its share price may be negatively affected if investing in that market capitalization
falls out of favor. Small- and mid-cap companies often have less experienced management, more limited
financial resources, and less publicly available information than large-cap companies, and tend to be
more sensitive to changes in overall economic conditions. As a result, investments in small-cap and mid-cap
companies are likely to be more volatile than investments in large-cap companies. However, large-cap
companies may not be able to attain the high growth rates of successful smaller companies, especially
during strong economic periods, and they may be less capable of responding quickly to competitive challenges
and industry changes.
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| Investment style |
Investment style: Because the fund invests in certain underlying funds that
focus on growth stocks and certain underlying funds that focus on value stocks, its share price may be
negatively affected
if either investing approach falls out of favor. Growth stocks tend to be more volatile than the overall
stock market and are more sensitive to changes in current or expected earnings. Value stocks carry the
risk that investors will not recognize their intrinsic value for a long time (or at all) or that they
are actually appropriately priced at a low level.
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| Dividend-paying stocks |
Dividend-paying stocks: To the extent the
fund invests in an underlying fund that focuses on dividend-paying stocks, it is exposed to greater volatility
and the risk of stock market declines that could cause the fund to underperform funds with similar objectives.
Stocks of established companies paying high dividends may not participate in a broad market advance to
the same degree as most other stocks, and a sharp rise in interest rates could cause a company to reduce
or eliminate its dividend.
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| Cybersecurity breaches |
Cybersecurity breaches: The fund could be harmed by intentional
cyberattacks and other cybersecurity breaches, including unauthorized access to the fund’s assets,
confidential information, or other proprietary information. In addition, a cybersecurity breach could
cause one of the fund’s service providers or financial intermediaries to suffer unauthorized data access,
data corruption, or loss of operational functionality.
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| Performance
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The following performance
information provides some indication of the risks of investing in the fund. The fund’s performance
information represents only past performance (before and after taxes) and is not necessarily an indication
of future results. The following bar chart illustrates how much returns can differ from year to year
by showing calendar year returns and the best and worst calendar quarter returns during those years
for the fund’s Investor Class. Returns for other share classes vary since they have different expenses.
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| Calendar Year Returns
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| | | | | | | | | | | | | Quarter Ended | Total Return | | | Quarter Ended | Total Return | | | | Best
Quarter | 6/30/20 | 20.92% | | Worst Quarter | 3/31/20 | -21.60% | |
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| Average
Annual Total Returns Periods
ended December 31, 2024
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The following table shows
the average annual total returns for each class of the fund that has been in operation for at least one
full calendar year. The fund’s performance information included in the table is compared with a regulatory
required index that represents an overall securities market (Regulatory Benchmark). In addition, the
table may also include one or more indexes that more closely aligns to the fund’s investment strategy
(Strategy Benchmark(s)). In addition, the table shows hypothetical after-tax returns to demonstrate how
taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical
highest individual federal marginal income tax rates and do not reflect the impact of state and local
taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown.
After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred
arrangements, such as a 401(k) account or an IRA. After-tax returns are shown only for the Investor Class
and will differ for other share classes.
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| Updated performance information is available through troweprice.com.
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