T. Rowe Price Emerging Markets Corporate Bond Fund (PACEX)
The investment seeks to provide high current income and, secondarily, capital appreciation. The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in bonds that are issued by companies that are located or listed in, or conduct the predominant part of their business activities in, the emerging market countries of Latin America, Asia, Europe, Africa, and the Middle East. Although the managers expect to generally maintain an intermediate-term weighted average maturity, there are no maturity restrictions on the overall portfolio or on individual securities purchased by the fund.
Fund Info
| ISIN | US77956H6412 |
|---|---|
| Issuer | T. Rowe Price |
| Inception Date | May 23, 2012 |
| Category | Emerging Markets Bonds |
| Min. Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
PACEX has a high expense ratio of 1.16%, indicating higher-than-average management fees.
Share Price Chart
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Popular comparisons: PACEX vs. PBDIX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Emerging Markets Corporate Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
T. Rowe Price Emerging Markets Corporate Bond Fund had a return of 7.48% year-to-date (YTD) and 13.53% in the last 12 months. Over the past 10 years, T. Rowe Price Emerging Markets Corporate Bond Fund had an annualized return of 3.18%, while the S&P 500 had an annualized return of 11.43%, indicating that T. Rowe Price Emerging Markets Corporate Bond Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 7.48% | 25.82% |
| 1 month | -0.20% | 3.20% |
| 6 months | 5.37% | 14.94% |
| 1 year | 13.53% | 35.92% |
| 5 years (annualized) | 1.31% | 14.22% |
| 10 years (annualized) | 3.18% | 11.43% |
Monthly Returns
The table below presents the monthly returns of PACEX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.41% | 0.61% | 1.32% | -1.12% | 1.48% | 0.73% | 1.32% | 1.57% | 1.80% | -0.84% | 7.48% | ||
| 2023 | 3.24% | -1.85% | -0.21% | 0.58% | -0.29% | 0.86% | 1.40% | -0.72% | -1.18% | -1.58% | 3.82% | 3.05% | 7.15% |
| 2022 | -2.49% | -3.26% | -1.60% | -2.35% | -1.20% | -4.21% | 0.24% | 1.14% | -4.92% | -1.77% | 5.62% | 2.02% | -12.47% |
| 2021 | -0.09% | -0.29% | -0.82% | 0.56% | 0.43% | 0.72% | -0.28% | 0.90% | -0.83% | -1.29% | -1.60% | 0.60% | -2.01% |
| 2020 | 1.25% | -0.17% | -14.32% | 5.06% | 4.23% | 2.94% | 2.60% | 1.17% | -0.53% | 0.71% | 3.33% | 1.63% | 6.59% |
| 2019 | 3.11% | 1.07% | 1.08% | 0.69% | 0.40% | 2.17% | 1.03% | 0.28% | 0.40% | 0.80% | 0.25% | 0.89% | 12.83% |
| 2018 | 0.12% | -0.99% | -0.61% | -0.54% | -1.00% | -0.71% | 1.86% | -0.87% | 1.23% | -0.90% | -0.38% | 1.02% | -1.80% |
| 2017 | 1.20% | 1.51% | 0.26% | 1.28% | 0.72% | 0.26% | 0.97% | 0.99% | 0.55% | 0.42% | -0.04% | 0.44% | 8.89% |
| 2016 | -0.27% | 1.05% | 3.88% | 1.81% | 0.58% | 1.66% | 2.51% | 1.29% | 0.05% | -0.08% | -2.84% | 1.05% | 11.08% |
| 2015 | -0.90% | 1.82% | 0.28% | 2.17% | 0.67% | -1.17% | -0.27% | -2.11% | -1.93% | 2.60% | -0.23% | -1.44% | -0.66% |
| 2014 | -0.29% | 1.97% | 0.97% | 0.80% | 2.90% | 0.71% | -0.25% | 0.10% | -1.42% | 0.86% | -0.71% | -2.61% | 2.95% |
| 2013 | 0.22% | 0.64% | 0.15% | 1.44% | -2.02% | -4.85% | 1.32% | -2.09% | 1.65% | 2.61% | -0.81% | 0.06% | -1.90% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of PACEX is 84, placing it in the top 16% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price Emerging Markets Corporate Bond Fund (PACEX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
T. Rowe Price Emerging Markets Corporate Bond Fund provided a 4.97% dividend yield over the last twelve months, with an annual payout of $0.46 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.46 | $0.41 | $0.36 | $0.35 | $0.43 | $0.46 | $0.45 | $0.42 | $0.44 | $0.47 | $0.49 | $0.43 |
Dividend yield | 4.97% | 4.55% | 4.12% | 3.36% | 3.85% | 4.26% | 4.46% | 3.94% | 4.28% | 4.92% | 4.85% | 4.23% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Emerging Markets Corporate Bond 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.39 | |
| 2023 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.04 | $0.41 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.36 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2020 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.43 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2018 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.45 |
| 2017 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.42 |
| 2016 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.44 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.49 |
| 2013 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.43 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Emerging Markets Corporate Bond 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 Emerging Markets Corporate Bond Fund was 22.56%, occurring on Oct 21, 2022. The portfolio has not yet recovered.
The current T. Rowe Price Emerging Markets Corporate Bond Fund drawdown is 2.59%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -22.56% | Sep 14, 2021 | 280 | Oct 21, 2022 | — | — | — |
| -19.86% | Feb 24, 2020 | 22 | Mar 24, 2020 | 158 | Nov 5, 2020 | 180 |
| -8.98% | May 10, 2013 | 31 | Jun 24, 2013 | 229 | May 21, 2014 | 260 |
| -6.76% | Jul 10, 2014 | 387 | Jan 21, 2016 | 58 | Apr 14, 2016 | 445 |
| -4.31% | Jan 9, 2018 | 119 | Jun 28, 2018 | 145 | Jan 28, 2019 | 264 |
Volatility
Volatility Chart
The current T. Rowe Price Emerging Markets Corporate Bond Fund volatility is 0.98%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.