NEFFX vs. PRGSX

Last updated Jun 4, 2026

NEFFX (American Funds The New Economy Fund® Class F-2) and PRGSX (T. Rowe Price Global Stock Fund) are both Global Equities funds. Over the past 10 years, NEFFX returned 16.65%/yr vs 16.95%/yr for PRGSX. Their correlation of 0.94 suggests significant overlap in exposure. NEFFX charges 0.52%/yr vs 0.82%/yr for PRGSX.

Performance

NEFFX vs. PRGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds The New Economy Fund® Class F-2 (NEFFX) and T. Rowe Price Global Stock Fund (PRGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with NEFFX having a 22.99% return and PRGSX slightly higher at 23.78%. Both investments have delivered pretty close results over the past 10 years, with NEFFX having a 16.65% annualized return and PRGSX not far ahead at 16.95%.

NEFFX

• 1D: 0.02%
• 1M: 10.70%
• YTD: 22.99%
• 6M: 25.48%
• 1Y: 55.04%
• 3Y*: 31.00%
• 5Y*: 14.59%
• 10Y*: 16.65%

PRGSX

• 1D: 1.03%
• 1M: 10.17%
• YTD: 23.78%
• 6M: 24.65%
• 1Y: 44.27%
• 3Y*: 24.53%
• 5Y*: 10.12%
• 10Y*: 16.95%

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

NEFFX vs. PRGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEFFX American Funds The New Economy Fund® Class F-2	22.99%	31.31%	23.87%	29.47%	-29.50%	12.31%	33.79%	26.75%	-4.17%	34.66%
PRGSX T. Rowe Price Global Stock Fund	23.78%	21.42%	16.80%	25.70%	-28.01%	9.81%	52.29%	35.84%	-4.51%	32.64%

Correlation

The correlation between NEFFX and PRGSX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 4, 2008	0.94

The correlation between NEFFX and PRGSX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

NEFFX vs. PRGSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NEFFX

NEFFX Risk / Return Rank: 88
NEFFX Sharpe Ratio Rank: 94
NEFFX Sortino Ratio Rank: 86
NEFFX Omega Ratio Rank: 83
NEFFX Calmar Ratio Rank: 87
NEFFX Martin Ratio Rank: 91

PRGSX

PRGSX Risk / Return Rank: 69
PRGSX Sharpe Ratio Rank: 73
PRGSX Sortino Ratio Rank: 59
PRGSX Omega Ratio Rank: 61
PRGSX Calmar Ratio Rank: 77
PRGSX Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NEFFX vs. PRGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds The New Economy Fund® Class F-2 (NEFFX) and T. Rowe Price Global Stock Fund (PRGSX). 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.

	NEFFX	PRGSX	Difference
Sharpe ratio: Return per unit of total volatility	3.28	2.48	+0.80
Sortino ratio: Return per unit of downside risk	4.10	3.23	+0.86
Omega ratio: Gain probability vs. loss probability	1.56	1.44	+0.12
Calmar ratio: Return relative to maximum drawdown	4.23	3.48	+0.75
Martin ratio: Return relative to average drawdown	18.96	14.22	+4.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEFFX vs. PRGSX - Sharpe Ratio Comparison

The current NEFFX Sharpe Ratio is 3.28, which is higher than the PRGSX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of NEFFX and PRGSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NEFFX	PRGSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.28	2.48	+0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.52	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	0.86	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.53	+0.16

Drawdowns

NEFFX vs. PRGSX - Drawdown Comparison

The maximum NEFFX drawdown since its inception was -45.12%, smaller than the maximum PRGSX drawdown of -64.06%. Use the drawdown chart below to compare losses from any high point for NEFFX and PRGSX.

Drawdown Indicators

	NEFFX	PRGSX	Difference
Max Drawdown Largest peak-to-trough decline	-45.12%	-64.06%	+18.94%
Max Drawdown (1Y) Largest decline over 1 year	-13.32%	-12.77%	-0.55%
Max Drawdown (3Y) Largest decline over 3 years	-20.78%	-21.13%	+0.35%
Max Drawdown (5Y) Largest decline over 5 years	-36.95%	-38.11%	+1.16%
Max Drawdown (10Y) Largest decline over 10 years	-36.95%	-38.11%	+1.16%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.61%	-13.48%	+5.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	3.11%	-0.15%

Volatility

NEFFX vs. PRGSX - Volatility Comparison

American Funds The New Economy Fund® Class F-2 (NEFFX) and T. Rowe Price Global Stock Fund (PRGSX) have volatilities of 5.29% and 5.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEFFX	PRGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	5.50%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	13.71%	14.84%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	17.93%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.39%	19.66%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.11%	19.77%	-0.66%

NEFFX vs. PRGSX - Expense Ratio Comparison

NEFFX has a 0.52% expense ratio, which is lower than PRGSX's 0.82% expense ratio.

Dividends

NEFFX vs. PRGSX - Dividend Comparison

NEFFX's dividend yield for the trailing twelve months is around 8.03%, more than PRGSX's 7.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEFFX American Funds The New Economy Fund® Class F-2	8.03%	9.87%	9.61%	4.19%	0.19%	7.55%	2.69%	7.57%	10.31%	8.50%	2.51%	6.41%
PRGSX T. Rowe Price Global Stock Fund	7.76%	9.60%	6.73%	0.27%	0.00%	13.67%	5.67%	2.21%	5.81%	0.03%	0.63%	0.33%

Frequently Asked Questions

Can I hold both NEFFX and PRGSX in my portfolio?

With a correlation of 0.92, NEFFX and PRGSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NEFFX or PRGSX?

PRGSX has higher volatility (5.50%) compared to NEFFX (5.29%). In terms of maximum drawdown, NEFFX dropped -45.12% vs PRGSX's -64.06%.

Which has better risk-adjusted returns?

NEFFX currently has the higher Sharpe Ratio (3.28 vs 2.48), 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.