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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Asia Opportunities Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
T. Rowe Price Asia Opportunities Fund (PAAOX) has returned -2.15% so far this year and 22.95% over the past 12 months. Over the last ten years, PAAOX has returned 8.25% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
T. Rowe Price Asia Opportunities Fund
- 1D
- -1.50%
- 1M
- -12.67%
- YTD
- -2.15%
- 6M
- 1.25%
- 1Y
- 22.95%
- 3Y*
- 9.11%
- 5Y*
- -0.13%
- 10Y*
- 8.25%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since May 23, 2014, PAAOX's average daily return is +0.03%, while the average monthly return is +0.68%. At this rate, your investment would double in approximately 8.5 years.
Historically, 62% of months were positive and 38% were negative. The best month was Nov 2022 with a return of +22.5%, while the worst month was Mar 2020 at -14.2%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 5 months.
On a daily basis, PAAOX closed higher 51% of trading days. The best single day was Mar 16, 2022 with a return of +8.5%, while the worst single day was Mar 16, 2020 at -8.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.05% | 5.65% | -12.67% | -2.15% | |||||||||
| 2025 | 0.59% | 0.97% | 0.13% | -0.77% | 4.64% | 5.18% | 1.46% | 2.83% | 6.57% | 3.42% | -2.75% | 2.88% | 27.78% |
| 2024 | -4.56% | 6.75% | 1.42% | 0.91% | 2.29% | 3.80% | -0.65% | 1.25% | 7.09% | -3.70% | -1.83% | -1.28% | 11.30% |
| 2023 | 9.81% | -6.62% | 3.44% | -3.39% | -2.96% | 2.98% | 3.58% | -7.19% | -3.23% | -4.00% | 5.48% | 2.62% | -1.00% |
| 2022 | 0.62% | -4.68% | -5.73% | -5.21% | 1.18% | -1.75% | -2.76% | -1.56% | -11.35% | -7.14% | 22.47% | -1.89% | -19.33% |
| 2021 | 2.22% | 2.80% | 0.61% | 1.40% | 0.14% | -0.92% | -6.96% | 1.15% | -4.48% | 3.51% | -4.84% | 0.35% | -5.50% |
Benchmark Metrics
T. Rowe Price Asia Opportunities Fund has an annualized alpha of 0.37%, beta of 0.67, and R² of 0.48 versus S&P 500 Index. Calculated based on daily prices since May 27, 2014.
- This fund participated in 73.04% of S&P 500 Index downside but only 63.52% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.67 may look defensive, but with R² of 0.48 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R² of 0.48 means the benchmark explains less than half of this fund's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 0.37%
- Beta
- 0.67
- R²
- 0.48
- Upside Capture
- 63.52%
- Downside Capture
- 73.04%
Expense Ratio
PAAOX has a high expense ratio of 1.25%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
PAAOX ranks 64 for risk / return — better than 64% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Asia Opportunities Fund (PAAOX) and compare them to a chosen benchmark (S&P 500 Index).
| PAAOX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.24 | 0.90 | +0.34 |
Sortino ratioReturn per unit of downside risk | 1.69 | 1.39 | +0.30 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.51 | 1.40 | +0.11 |
Martin ratioReturn relative to average drawdown | 5.96 | 6.61 | -0.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore PAAOX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
T. Rowe Price Asia Opportunities Fund provided a 0.65% dividend yield over the last twelve months, with an annual payout of $0.12 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.12 | $0.12 | $0.00 | $0.21 | $0.21 | $1.33 | $0.27 | $0.10 | $0.08 | $0.02 | $0.22 | $0.09 |
Dividend yield | 0.65% | 0.64% | 0.00% | 1.55% | 1.51% | 7.43% | 1.33% | 0.62% | 0.61% | 0.13% | 2.12% | 0.89% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Asia Opportunities Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.12 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.21 | $0.21 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.21 | $0.21 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.33 | $1.33 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Asia Opportunities Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price Asia Opportunities Fund was 43.02%, occurring on Oct 31, 2022. Recovery took 796 trading sessions.
The current T. Rowe Price Asia Opportunities Fund drawdown is 13.70%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -43.02% | Feb 17, 2021 | 431 | Oct 31, 2022 | 796 | Jan 5, 2026 | 1227 |
| -29.38% | Jan 14, 2020 | 48 | Mar 23, 2020 | 74 | Jul 8, 2020 | 122 |
| -25.66% | Jan 29, 2018 | 191 | Oct 29, 2018 | 285 | Dec 17, 2019 | 476 |
| -23.63% | Apr 28, 2015 | 201 | Feb 11, 2016 | 272 | Mar 13, 2017 | 473 |
| -13.7% | Feb 26, 2026 | 23 | Mar 30, 2026 | — | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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