- Issuer
- T. Rowe Price
- Inception Date
- Sep 14, 2015
- Region
- Emerging Markets ()
- Category
- Emerging Markets Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
PRIJX Performance Chart
T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class (PRIJX) is up 18.4% since the beginning of the year. PRIJX is currently trading at $21 per share. Investors who bought $1,000 worth of PRIJX shares 5 years ago would now be looking at an investment worth $1,609.
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Returns By Period
T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class (PRIJX) has returned 18.43% so far this year and 42.70% over the past 12 months. Over the last ten years, PRIJX has returned 10.29% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class
- 1D
- 4.05%
- 1M
- -1.30%
- 6M
- 7.46%
- YTD
- 18.43%
- 1Y
- 42.70%
- 3Y*
- 19.73%
- 5Y*
- 9.98%
- 10Y*
- 10.29%
- ALL TIME*
- 10.81%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
PRIJX Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2016, PRIJX's average daily return is +0.05%, while the average monthly return is +0.99%. At this rate, an investment would double in approximately 5.9 years.
Historically, 57% of months were positive and 43% were negative. The best month was Nov 2022 with a return of +15.0%, while the worst month was Mar 2020 at -20.2%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 5 months.
On a daily basis, PRIJX closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +8.2%, while the worst single day was Mar 16, 2020 at -10.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 10.22% | 4.99% | -10.27% | 11.39% | 8.79% | -0.62% | -5.28% | 18.43% | |||||
| 2025 | 3.24% | 0.93% | 1.20% | -0.28% | 3.71% | 6.47% | 0.19% | 3.92% | 6.39% | 5.83% | -1.84% | 3.71% | 38.56% |
| 2024 | -4.53% | 3.79% | 3.66% | -0.51% | 2.29% | 2.38% | -0.21% | 1.20% | 6.28% | -3.94% | -2.53% | -1.67% | 5.75% |
| 2023 | 6.67% | -4.80% | 2.96% | -1.40% | -2.05% | 5.23% | 5.74% | -5.57% | -3.37% | -3.25% | 6.64% | 5.06% | 11.13% |
| 2022 | 1.62% | -6.89% | -3.91% | -3.85% | 2.39% | -4.74% | -1.34% | -0.40% | -9.08% | -2.47% | 14.95% | -1.22% | -15.64% |
| 2021 | 0.07% | 6.25% | 2.00% | 0.38% | 3.22% | -1.77% | -4.30% | 3.58% | -4.84% | 3.23% | -5.24% | 2.59% | 4.50% |
Benchmark Metrics
T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class has an annualized alpha of 1.75%, beta of 0.74, and R2 of 0.53 versus S&P 500 Index. Calculated based on daily prices since January 04, 2016.
- This fund participated in 81.80% of S&P 500 Index downside but only 77.48% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- 1.75%
- Beta
- 0.74
- R²
- 0.53
- Upside Capture
- 77.48%
- Downside Capture
- 81.80%
Expense Ratio
PRIJX has a high expense ratio of 1.13%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
PRIJX ranks 73 for risk / return — above 73% of mutual funds peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class (PRIJX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PRIJX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.25 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | 2.00 | +1.02 |
| Martin ratioReturn relative to average drawdown | 9.07 | 8.49 | +0.58 |
Dividends
Dividend History
T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class provided a 3.81% dividend yield over the last twelve months, with an annual payout of $0.81 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.81 | $0.81 | $0.43 | $0.40 | $0.24 | $0.34 | $0.11 | $0.35 | $0.20 | $0.50 | $0.50 |
Dividend yield | 3.81% | 4.51% | 3.15% | 2.99% | 1.93% | 2.29% | 0.76% | 2.55% | 1.66% | 3.67% | 4.69% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class. 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 | $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 | $0.81 | $0.81 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.43 | $0.43 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.40 | $0.40 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.24 | $0.24 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.34 | $0.34 |
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 Emerging Markets Discovery Stock Fund Investor Class. 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 Discovery Stock Fund Investor Class was 41.67%, occurring on Mar 23, 2020. Recovery took 196 trading sessions.
The current T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class drawdown is 9.66%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-41.67%Mar 2020 | 2y 1mo | 9mo 12d | 2y 11moJan 2018 - Dec 2020 | COVID crash2020 |
-32.32%Oct 2022 | 1y 4mo | 1y 11mo | 3y 3moJun 2021 - Oct 2024 | Bear market2022 |
-16.15%Apr 2025 | 6mo 3d | 1mo 6d | 7mo 9dOct 2024 - May 2025 | 2025 selloff2025 |
-13.26%Mar 2026 | 1mo 2d | 1mo 5d | 2mo 7dFeb 2026 - May 2026 | — |
-13.17%Jul 2026 | 1mo 26d | — | 2moJun 2026 - now | — |
Drawdown Indicators
| PRIJX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.67% | -56.78% | +15.11% |
Max Drawdown (1Y)Largest decline over 1 year | -13.26% | -9.10% | -4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -16.15% | -18.90% | +2.75% |
Max Drawdown (5Y)Largest decline over 5 years | -30.61% | -25.43% | -5.18% |
Max Drawdown (10Y)Largest decline over 10 years | -41.67% | -33.92% | -7.75% |
Current DrawdownCurrent decline from peak | -9.66% | -1.58% | -8.08% |
Average DrawdownAverage peak-to-trough decline | -9.87% | -10.70% | +0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.41% | 2.14% | +2.27% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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