MXF vs. PRLAX

Last updated Aug 1, 2026

MXF (The Mexico Fund) and PRLAX (T. Rowe Price Latin America Fund) are both Latin America Equities funds. Over the past 10 years, MXF returned 8.06%/yr vs 6.70%/yr for PRLAX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. MXF charges 0.01%/yr vs 1.46%/yr for PRLAX.

Performance

MXF vs. PRLAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Mexico Fund (MXF) and T. Rowe Price Latin America Fund (PRLAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXF achieves a 13.45% return, which is significantly higher than PRLAX's 11.80% return. Over the past 10 years, MXF has outperformed PRLAX with an annualized return of 8.06%, while PRLAX has yielded a comparatively lower 6.70% annualized return.

MXF

• 1D: 0.28%
• 1M: 1.67%
• 6M: 4.88%
• YTD: 13.45%
• 1Y: 32.55%
• 3Y*: 13.49%
• 5Y*: 13.01%
• 10Y*: 8.06%
• ALL TIME*: 10.49%

PRLAX

• 1D: 2.87%
• 1M: 4.17%
• 6M: -1.75%
• YTD: 11.80%
• 1Y: 35.18%
• 3Y*: 9.58%
• 5Y*: 7.68%
• 10Y*: 6.70%
• ALL TIME*: 6.78%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MXF The Mexico Fund	$925.64K	$774.11K	$966.09K
PRLAX T. Rowe Price Latin America Fund	$0.00	$0.00	$0.00

MXF vs. PRLAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXF The Mexico Fund	13.45%	61.94%	-27.14%	35.83%	-1.66%	18.01%	3.29%	11.37%	-12.26%	15.71%
PRLAX T. Rowe Price Latin America Fund	11.80%	45.79%	-23.09%	34.73%	0.23%	-14.98%	-7.55%	27.23%	-8.27%	28.54%

Correlation

The correlation between MXF and PRLAX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.65
Correlation (5Y) Shows whether the relationship held over a longer period.	0.62
Correlation (10Y) Provides a long-term view across more market conditions.	0.61
Correlation (All Time) Calculated using the full available price history since Jan 3, 1994	0.67

The correlation between MXF and PRLAX has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.

Return for Risk

MXF vs. PRLAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MXF

MXF Risk / Return Rank: 53
MXF Sharpe Ratio Rank: 53
MXF Sortino Ratio Rank: 53
MXF Omega Ratio Rank: 47
MXF Calmar Ratio Rank: 59
MXF Martin Ratio Rank: 55

PRLAX

PRLAX Risk / Return Rank: 59
PRLAX Sharpe Ratio Rank: 64
PRLAX Sortino Ratio Rank: 58
PRLAX Omega Ratio Rank: 58
PRLAX Calmar Ratio Rank: 76
PRLAX Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MXF vs. PRLAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Mexico Fund (MXF) 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.

	MXF	PRLAX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.55	-0.10
Sortino ratio: Return per unit of downside risk	2.07	2.11	-0.04
Omega ratio: Gain probability vs. loss probability	1.25	1.27	-0.02
Calmar ratio: Return relative to maximum drawdown	2.12	2.47	-0.35
Martin ratio: Return relative to average drawdown	7.66	6.02	+1.64

MXF vs. PRLAX - Sharpe Ratio Comparison

The current MXF Sharpe Ratio is 1.45, which is comparable to the PRLAX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of MXF and PRLAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MXF vs. PRLAX - Drawdown Comparison

The maximum MXF drawdown since its inception was -80.25%, which is greater than PRLAX's maximum drawdown of -70.03%. Use the drawdown chart below to compare losses from any high point for MXF and PRLAX.

Drawdown Indicators

	MXF	PRLAX	Difference
Max Drawdown Largest peak-to-trough decline	-80.25%	-70.03%	-10.22%
Max Drawdown (1Y) Largest decline over 1 year	-14.03%	-13.94%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-30.73%	-23.60%	-7.13%
Max Drawdown (5Y) Largest decline over 5 years	-30.73%	-29.59%	-1.14%
Max Drawdown (10Y) Largest decline over 10 years	-56.02%	-49.80%	-6.22%
Current Drawdown Current decline from peak	-1.47%	-6.61%	+5.14%
Average Drawdown Average peak-to-trough decline	-31.43%	-23.75%	-7.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	5.71%	-1.82%

Volatility

MXF vs. PRLAX - Volatility Comparison

The current volatility for The Mexico Fund (MXF) is 4.98%, while T. Rowe Price Latin America Fund (PRLAX) has a volatility of 6.09%. This indicates that MXF experiences smaller price fluctuations and is considered to be less risky than PRLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXF	PRLAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	6.09%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	17.04%	18.08%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	20.52%	22.20%	-1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.82%	22.89%	-2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.15%	25.60%	-2.45%

MXF vs. PRLAX - Expense Ratio Comparison

MXF has a 0.02% expense ratio, which is lower than PRLAX's 1.46% expense ratio.

Dividends

MXF vs. PRLAX - Dividend Comparison

MXF's dividend yield for the trailing twelve months is around 5.97%, less than PRLAX's 6.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXF The Mexico Fund	5.97%	4.67%	6.67%	4.19%	4.88%	2.29%	3.15%	7.28%	5.13%	3.37%	5.03%	10.90%
PRLAX T. Rowe Price Latin America Fund	6.34%	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

Can I hold both MXF and PRLAX in my portfolio?

MXF and PRLAX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXF or PRLAX?

PRLAX has higher volatility (6.09%) compared to MXF (4.98%). In terms of maximum drawdown, MXF dropped -80.25% vs PRLAX's -70.03%.

Which has better risk-adjusted returns?

PRLAX currently has the higher Sharpe Ratio (1.55 vs 1.45), 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.