MXE vs. PRLAX
MXE (Mexico Equity and Income Fund Inc) and PRLAX (T. Rowe Price Latin America Fund) are both Latin America Equities funds. Over the past 10 years, MXE returned 3.14%/yr vs 7.44%/yr for PRLAX. A 0.57 correlation means they provide meaningful diversification when combined. MXE charges 0.02%/yr vs 1.46%/yr for PRLAX.
Performance
MXE vs. PRLAX - Performance Comparison
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Returns By Period
In the year-to-date period, MXE achieves a 3.95% return, which is significantly lower than PRLAX's 7.60% return. Over the past 10 years, MXE has underperformed PRLAX with an annualized return of 3.14%, while PRLAX has yielded a comparatively higher 7.44% annualized return.
MXE
- 1D
- -5.01%
- 1M
- -4.10%
- YTD
- 3.95%
- 6M
- 4.21%
- 1Y
- 29.36%
- 3Y*
- 11.97%
- 5Y*
- 2.98%
- 10Y*
- 3.14%
PRLAX
- 1D
- 0.51%
- 1M
- -0.88%
- YTD
- 7.60%
- 6M
- 7.40%
- 1Y
- 27.05%
- 3Y*
- 9.59%
- 5Y*
- 5.39%
- 10Y*
- 7.44%
MXE vs. PRLAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MXE Mexico Equity and Income Fund Inc | 3.95% | 57.14% | -25.74% | 31.01% | -1.57% | -8.42% | -16.03% | 16.39% | -1.84% | 12.41% |
PRLAX T. Rowe Price Latin America Fund | 7.60% | 45.79% | -23.09% | 34.73% | 0.23% | -14.98% | -7.55% | 27.23% | -8.27% | 28.54% |
Correlation
The correlation between MXE and PRLAX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1994 | 0.57 |
The correlation between MXE and PRLAX has been stable across timeframes, ranging from 0.49 to 0.58 - a consistent structural relationship.
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Return for Risk
MXE vs. PRLAX — Risk / Return Rank
MXE
PRLAX
MXE vs. PRLAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mexico Equity and Income Fund Inc (MXE) and T. Rowe Price Latin America Fund (PRLAX). 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.
| MXE | PRLAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.22 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 1.93 | +0.16 |
| Martin ratioReturn relative to average drawdown | 7.12 | 5.22 | +1.90 |
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Drawdowns
MXE vs. PRLAX - Drawdown Comparison
The maximum MXE drawdown since its inception was -81.73%, which is greater than PRLAX's maximum drawdown of -70.03%. Use the drawdown chart below to compare losses from any high point for MXE and PRLAX.
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Drawdown Indicators
| MXE | PRLAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.73% | -70.03% | -11.70% |
Max Drawdown (1Y)Largest decline over 1 year | -14.14% | -13.94% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -28.77% | -23.60% | -5.17% |
Max Drawdown (5Y)Largest decline over 5 years | -42.10% | -29.69% | -12.41% |
Max Drawdown (10Y)Largest decline over 10 years | -52.04% | -49.80% | -2.24% |
Current DrawdownCurrent decline from peak | -9.43% | -10.12% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -34.14% | -23.79% | -10.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 5.14% | -1.01% |
Volatility
MXE vs. PRLAX - Volatility Comparison
Mexico Equity and Income Fund Inc (MXE) has a higher volatility of 8.53% compared to T. Rowe Price Latin America Fund (PRLAX) at 5.99%. This indicates that MXE's price experiences larger fluctuations and is considered to be riskier than PRLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MXE | PRLAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.53% | 5.99% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 19.33% | 18.07% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.29% | 22.01% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.48% | 22.99% | -2.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.04% | 25.68% | -2.64% |
MXE vs. PRLAX - Expense Ratio Comparison
MXE has a 0.02% expense ratio, which is lower than PRLAX's 1.46% expense ratio.
Dividends
MXE vs. PRLAX - Dividend Comparison
MXE's dividend yield for the trailing twelve months is around 1.82%, less than PRLAX's 6.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MXE Mexico Equity and Income Fund Inc | 1.82% | 1.89% | 3.71% | 2.69% | 0.00% | 0.00% | 0.00% | 1.04% | 0.01% | 0.47% | 0.00% | 5.20% |
PRLAX T. Rowe Price Latin America Fund | 6.59% | 7.09% | 7.84% | 2.44% | 3.10% | 9.92% | 1.09% | 10.55% | 2.41% | 1.30% | 1.45% | 6.65% |
Frequently Asked Questions
MXE and PRLAX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MXE has higher volatility (8.53%) compared to PRLAX (5.99%). In terms of maximum drawdown, MXE dropped -81.73% vs PRLAX's -70.03%.
MXE currently has the higher Sharpe Ratio (1.39 vs 1.23), 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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