PRASX vs. ASIAX
PRASX (T. Rowe Price New Asia Fund) and ASIAX (Invesco EQV Asia Pacific Equity Fund) are both Asia Pacific Equities funds. Over the past 10 years, PRASX returned 8.00%/yr vs 7.63%/yr for ASIAX. Their correlation of 0.87 means they have usually moved in the same direction. PRASX charges 0.99%/yr vs 1.45%/yr for ASIAX.
Performance
PRASX vs. ASIAX - Performance Comparison
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Returns By Period
In the year-to-date period, PRASX achieves a 16.00% return, which is significantly higher than ASIAX's 12.98% return. Both investments have delivered pretty close results over the past 10 years, with PRASX having a 8.00% annualized return and ASIAX not far behind at 7.63%.
PRASX
- 1D
- 4.13%
- 1M
- -4.46%
- 6M
- 9.16%
- YTD
- 16.00%
- 1Y
- 33.18%
- 3Y*
- 14.21%
- 5Y*
- 3.53%
- 10Y*
- 8.00%
- ALL TIME*
- 8.68%
ASIAX
- 1D
- 3.01%
- 1M
- 2.27%
- 6M
- 6.06%
- YTD
- 12.98%
- 1Y
- 32.63%
- 3Y*
- 13.64%
- 5Y*
- 6.71%
- 10Y*
- 7.63%
- ALL TIME*
- 8.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PRASX vs. ASIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRASX T. Rowe Price New Asia Fund | 16.00% | 26.60% | 6.97% | 0.83% | -22.60% | -4.33% | 29.56% | 26.75% | -15.13% | 40.64% |
ASIAX Invesco EQV Asia Pacific Equity Fund | 12.98% | 24.56% | 9.59% | 0.87% | -10.82% | -6.10% | 25.76% | 17.78% | -11.50% | 29.13% |
Correlation
The correlation between PRASX and ASIAX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 1997 | 0.87 |
The correlation between PRASX and ASIAX has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.
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Return for Risk
PRASX vs. ASIAX — Risk / Return Rank
PRASX
ASIAX
PRASX vs. ASIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Asia Fund (PRASX) and Invesco EQV Asia Pacific Equity Fund (ASIAX). 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.
| PRASX | ASIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 2.50 | -0.60 |
| Martin ratioReturn relative to average drawdown | 6.26 | 7.48 | -1.23 |
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Drawdowns
PRASX vs. ASIAX - Drawdown Comparison
The maximum PRASX drawdown since its inception was -70.53%, which is greater than ASIAX's maximum drawdown of -63.78%. Use the drawdown chart below to compare losses from any high point for PRASX and ASIAX.
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Drawdown Indicators
| PRASX | ASIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.53% | -63.78% | -6.75% |
Max Drawdown (1Y)Largest decline over 1 year | -15.91% | -11.73% | -4.18% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | -20.36% | +2.02% |
Max Drawdown (5Y)Largest decline over 5 years | -39.37% | -27.93% | -11.44% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -36.32% | -8.75% |
Current DrawdownCurrent decline from peak | -12.44% | -6.02% | -6.42% |
Average DrawdownAverage peak-to-trough decline | -18.47% | -15.05% | -3.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.82% | 3.91% | +0.91% |
Volatility
PRASX vs. ASIAX - Volatility Comparison
T. Rowe Price New Asia Fund (PRASX) has a higher volatility of 11.21% compared to Invesco EQV Asia Pacific Equity Fund (ASIAX) at 6.32%. This indicates that PRASX's price experiences larger fluctuations and is considered to be riskier than ASIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRASX | ASIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.21% | 6.32% | +4.89% |
Volatility (6M)Calculated over the trailing 6-month period | 23.11% | 16.09% | +7.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.28% | 18.57% | +6.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.28% | 15.60% | +4.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 15.52% | +3.44% |
PRASX vs. ASIAX - Expense Ratio Comparison
PRASX has a 0.99% expense ratio, which is lower than ASIAX's 1.45% expense ratio.
Dividends
PRASX vs. ASIAX - Dividend Comparison
PRASX's dividend yield for the trailing twelve months is around 0.54%, less than ASIAX's 18.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASIAX Invesco EQV Asia Pacific Equity Fund | 18.95% | 21.41% | 8.68% | 2.84% | 7.25% | 7.71% | 7.37% | 5.67% | 7.17% | 7.91% | 1.09% | 3.15% |
PRASX T. Rowe Price New Asia Fund | 0.54% | 0.62% | 1.05% | 1.77% | 1.96% | 14.22% | 0.46% | 0.77% | 7.23% | 9.15% | 0.46% | 1.31% |
Frequently Asked Questions
With a correlation of 0.93, PRASX and ASIAX 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.
PRASX has higher volatility (11.21%) compared to ASIAX (6.32%). In terms of maximum drawdown, PRASX dropped -70.53% vs ASIAX's -63.78%.
ASIAX currently has the higher Sharpe Ratio (1.58 vs 1.20), 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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