IAE vs. TRCLX
IAE (Voya Asia Pacific High Dividend Equity Income Fund) and TRCLX (T. Rowe Price China Evolution Equity Fund) are both mutual funds - IAE is a Asia Pacific Equities fund managed by Voya, while TRCLX is a China Equities fund managed by T. Rowe Price. Over the past 5 years, IAE returned 10.29%/yr vs 3.14%/yr for TRCLX. A 0.55 correlation means they provide meaningful diversification when combined. IAE charges 0.02%/yr vs 1.04%/yr for TRCLX.
Performance
IAE vs. TRCLX - Performance Comparison
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Returns By Period
In the year-to-date period, IAE achieves a 23.59% return, which is significantly lower than TRCLX's 30.04% return.
IAE
- 1D
- -1.72%
- 1M
- -3.24%
- 6M
- 15.05%
- YTD
- 23.59%
- 1Y
- 36.87%
- 3Y*
- 24.04%
- 5Y*
- 10.29%
- 10Y*
- 10.45%
TRCLX
- 1D
- -2.18%
- 1M
- 0.49%
- 6M
- 23.49%
- YTD
- 30.04%
- 1Y
- 57.72%
- 3Y*
- 21.08%
- 5Y*
- 3.14%
- 10Y*
- —
IAE vs. TRCLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IAE Voya Asia Pacific High Dividend Equity Income Fund | 23.59% | 34.63% | 13.44% | 9.06% | -13.97% | 3.60% | 13.77% | 5.91% |
TRCLX T. Rowe Price China Evolution Equity Fund | 30.04% | 36.23% | 10.95% | -15.51% | -26.24% | 6.28% | 59.73% | 6.20% |
Correlation
The correlation between IAE and TRCLX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2019 | 0.55 |
The correlation between IAE and TRCLX shifts across timeframes, from 0.44 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IAE vs. TRCLX — Risk / Return Rank
IAE
TRCLX
IAE vs. TRCLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Asia Pacific High Dividend Equity Income Fund (IAE) and T. Rowe Price China Evolution Equity Fund (TRCLX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| IAE | TRCLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.45 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 5.42 | -2.54 |
| Martin ratioReturn relative to average drawdown | 8.96 | 17.99 | -9.03 |
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Drawdowns
IAE vs. TRCLX - Drawdown Comparison
The maximum IAE drawdown since its inception was -60.72%, which is greater than TRCLX's maximum drawdown of -50.67%. Use the drawdown chart below to compare losses from any high point for IAE and TRCLX.
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Drawdown Indicators
| IAE | TRCLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.72% | -50.67% | -10.05% |
Max Drawdown (1Y)Largest decline over 1 year | -12.86% | -10.47% | -2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -25.49% | +9.30% |
Max Drawdown (5Y)Largest decline over 5 years | -31.61% | -48.62% | +17.01% |
Max Drawdown (10Y)Largest decline over 10 years | -42.44% | — | — |
Current DrawdownCurrent decline from peak | -6.79% | -8.46% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -13.69% | -22.43% | +8.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 3.15% | +0.98% |
Volatility
IAE vs. TRCLX - Volatility Comparison
The current volatility for Voya Asia Pacific High Dividend Equity Income Fund (IAE) is 9.19%, while T. Rowe Price China Evolution Equity Fund (TRCLX) has a volatility of 10.22%. This indicates that IAE experiences smaller price fluctuations and is considered to be less risky than TRCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAE | TRCLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.19% | 10.22% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 18.49% | 17.48% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.34% | 21.01% | +1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.27% | 23.59% | -5.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.54% | 23.64% | -4.10% |
IAE vs. TRCLX - Expense Ratio Comparison
IAE has a 0.02% expense ratio, which is lower than TRCLX's 1.04% expense ratio.
Dividends
IAE vs. TRCLX - Dividend Comparison
IAE's dividend yield for the trailing twelve months is around 9.09%, more than TRCLX's 1.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAE Voya Asia Pacific High Dividend Equity Income Fund | 9.09% | 10.71% | 12.29% | 10.65% | 14.03% | 10.60% | 9.97% | 9.88% | 9.61% | 7.82% | 11.14% | 12.74% |
TRCLX T. Rowe Price China Evolution Equity Fund | 1.26% | 1.64% | 1.78% | 2.56% | 2.76% | 8.23% | 1.50% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IAE and TRCLX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRCLX has higher volatility (10.22%) compared to IAE (9.19%). In terms of maximum drawdown, IAE dropped -60.72% vs TRCLX's -50.67%.
TRCLX currently has the higher Sharpe Ratio (2.70 vs 1.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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