T. Rowe Price Emerging Markets Local Currency Bond Fund (PAELX)

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T. Rowe Price Emerging Markets Local Currency Bond Fund (PAELX) is up 0.8% since the beginning of the year. PAELX is currently trading at $5 per share. Investors who bought $1,000 worth of PAELX shares 5 years ago would now be looking at an investment worth $1,078.

T. Rowe Price Emerging Markets Local Currency Bond Fund (PAELX) has returned 0.80% so far this year and 9.30% over the past 12 months. Over the last ten years, PAELX has returned 2.51% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since May 27, 2011, PAELX's average daily return is 0.00%, while the average monthly return is +0.10%. At this rate, an investment would double in approximately 57.8 years.

Historically, 54% of months were positive and 46% were negative. The best month was Mar 2016 with a return of +8.9%, while the worst month was Mar 2020 at -12.7%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.

On a daily basis, PAELX closed higher 45% of trading days. The best single day was Jun 29, 2012 with a return of +3.0%, while the worst single day was Mar 18, 2020 at -4.4%.

T. Rowe Price Emerging Markets Local Currency Bond Fund has an annualized alpha of -1.91%, beta of 0.21, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since May 27, 2011.

• This fund participated in 64.86% of S&P 500 Index downside but only 30.59% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.21 may look defensive, but with R2 of 0.17 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 0.17 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PAELX has a high expense ratio of 1.10%, indicating above-average management fees.

PAELX ranks 24 for risk / return — below 24% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

T. Rowe Price Emerging Markets Local Currency Bond Fund provided a 6.05% dividend yield over the last twelve months, with an annual payout of $0.30 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for T. Rowe Price Emerging Markets Local Currency Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the T. Rowe Price Emerging Markets Local Currency 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 Local Currency Bond Fund was 34.71%, occurring on Jan 20, 2016. The portfolio has not yet recovered.

The current T. Rowe Price Emerging Markets Local Currency Bond Fund drawdown is 3.16%.

The chart below shows the rolling one-month volatility.