If you're looking for an Index fund category, then a potential option is T. Rowe Price Personal Strategy Growth (TRSGX Quick QuoteTRSGX - Free Report) . TRSGX possesses a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

TRSGX finds itself in the T. Rowe Price family, based out of Baltimore, MD. T. Rowe Price Personal Strategy Growth made its debut in July of 1994, and since then, TRSGX has accumulated about $1.35 billion in assets, per the most up-to-date date available. The fund is currently managed by Charles Shriver who has been in charge of the fund since May of 2011.

Performance

Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 8.02%, and it sits in the middle third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of 2.12%, which places it in the bottom third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, TRSGX's standard deviation comes in at 13.9%, compared to the category average of 14.3%. Over the past 5 years, the standard deviation of the fund is 14.71% compared to the category average of 15.17%. This makes the fund less volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 0.79, the fund is likely to be less volatile than the market average. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. With a negative alpha of -3.93, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, TRSGX is a no load fund. It has an expense ratio of 0.63% compared to the category average of 0.84%. TRSGX is actually cheaper than its peers when you consider factors like cost.

Investors need to be aware that with this product, the minimum initial investment is $2,500; each subsequent investment needs to be at least $100.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

Overall, T. Rowe Price Personal Strategy Growth ( TRSGX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, T. Rowe Price Personal Strategy Growth ( TRSGX ) looks like a somewhat average choice for investors right now.

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