T. Rowe Price Emerging Markets Local Currency Bond Fund (PAELX)
The investment seeks high income and capital appreciation. Under normal conditions, at least 80% of the fund's net assets (including any borrowings for investment purposes) will be invested in bonds that are denominated in emerging markets currencies, and in derivative instruments that provide investment exposure to such securities. It generally invests in securities where the combination of fixed-income returns and currency exchange rates appears attractive or, if the currency trend is unfavorable, where the adviser believes the currency risk can be minimized through hedging. The fund is non-diversified.
Fund Info
US77956H6669
May 25, 2011
$2,500
Expense Ratio
PAELX has a high expense ratio of 1.10%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Emerging Markets Local Currency 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 Local Currency Bond Fund had a return of 2.98% year-to-date (YTD) and 0.96% in the last 12 months. Over the past 10 years, T. Rowe Price Emerging Markets Local Currency Bond Fund had an annualized return of 0.71%, while the S&P 500 had an annualized return of 11.31%, indicating that T. Rowe Price Emerging Markets Local Currency Bond Fund did not perform as well as the benchmark.
PAELX
2.98%
3.43%
-2.17%
0.96%
-0.93%
0.71%
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
Monthly Returns
The table below presents the monthly returns of PAELX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2.09% | 2.98% | |||||||||||
| 2024 | -1.73% | -0.57% | -0.32% | -2.41% | 1.82% | -1.44% | 2.24% | 2.87% | 3.35% | -4.91% | -0.77% | -2.31% | -4.44% |
| 2023 | 4.71% | -3.07% | 4.23% | 1.07% | -1.36% | 3.90% | 2.90% | -3.07% | -3.62% | -0.38% | 5.66% | 3.78% | 15.07% |
| 2022 | 0.01% | -2.89% | -2.21% | -5.32% | 1.66% | -5.40% | -0.59% | -0.16% | -5.18% | -0.43% | 7.73% | 1.63% | -11.28% |
| 2021 | -1.55% | -2.39% | -3.22% | 2.23% | 2.34% | -1.42% | -0.94% | 0.87% | -3.47% | -1.34% | -2.80% | 1.70% | -9.77% |
| 2020 | -1.12% | -3.42% | -12.71% | 4.14% | 6.50% | 0.50% | 2.95% | 0.01% | -2.31% | 0.55% | 6.31% | 3.93% | 3.82% |
| 2019 | 5.63% | -0.99% | -1.27% | -0.16% | 0.17% | 5.52% | 0.57% | -2.84% | 1.14% | 3.12% | -1.84% | 4.27% | 13.67% |
| 2018 | 4.80% | -0.97% | 1.04% | -3.34% | -5.35% | -3.25% | 2.38% | -6.59% | 2.08% | -2.37% | 2.93% | 1.34% | -7.72% |
| 2017 | 2.20% | 2.17% | 2.98% | 1.19% | 1.48% | 0.50% | 2.20% | 1.75% | -0.25% | -3.00% | 1.32% | 1.96% | 15.33% |
| 2016 | -0.41% | 1.29% | 8.88% | 2.88% | -5.39% | 5.97% | 1.05% | 0.00% | 1.97% | -0.60% | -7.29% | 2.61% | 10.39% |
| 2015 | 0.83% | -1.45% | -3.76% | 3.25% | -2.18% | -1.55% | -3.11% | -4.93% | -3.80% | 4.59% | -1.79% | -2.25% | -15.39% |
| 2014 | -4.72% | 3.82% | 2.91% | 1.05% | 2.25% | 1.05% | -1.02% | 0.36% | -4.91% | 1.08% | -1.45% | -5.76% | -5.76% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PAELX is 9, meaning it’s performing worse than 91% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price Emerging Markets Local Currency Bond Fund (PAELX) 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 Local Currency Bond Fund provided a 6.11% dividend yield over the last twelve months, with an annual payout of $0.28 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.28 | $0.28 | $0.30 | $0.26 | $0.26 | $0.26 | $0.37 | $0.36 | $0.37 | $0.35 | $0.36 | $0.46 |
Dividend yield | 6.11% | 6.20% | 5.94% | 5.63% | 4.70% | 4.04% | 5.73% | 5.92% | 5.40% | 5.46% | 5.89% | 6.15% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.00 | $0.03 | ||||||||||
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.28 |
| 2023 | $0.04 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.30 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.26 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2020 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2017 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2016 | $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 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.46 |
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 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 13.97%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -34.71% | May 9, 2013 | 680 | Jan 20, 2016 | — | — | — |
| -13.91% | Aug 4, 2011 | 80 | Nov 25, 2011 | 254 | Dec 3, 2012 | 334 |
| -2.45% | Jun 6, 2011 | 15 | Jun 24, 2011 | 21 | Jul 26, 2011 | 36 |
| -2.12% | Feb 6, 2013 | 31 | Mar 21, 2013 | 11 | Apr 8, 2013 | 42 |
| -0.99% | Apr 12, 2013 | 2 | Apr 15, 2013 | 10 | Apr 29, 2013 | 12 |
Volatility
Volatility Chart
The current T. Rowe Price Emerging Markets Local Currency Bond Fund volatility is 2.13%, 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.