PRASX vs. FIQFX
PRASX (T. Rowe Price New Asia Fund) and FIQFX (Fidelity Advisor China Region Fund Class Z) are both mutual funds - PRASX is a Asia Pacific Equities fund managed by T. Rowe Price, while FIQFX is a China Equities fund managed by Fidelity. Over the past 5 years, PRASX returned 3.53%/yr vs 9.08%/yr for FIQFX. Their correlation of 0.94 means they have usually moved in the same direction. PRASX charges 0.99%/yr vs 0.80%/yr for FIQFX.
Performance
PRASX vs. FIQFX - Performance Comparison
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Returns By Period
In the year-to-date period, PRASX achieves a 16.00% return, which is significantly lower than FIQFX's 25.90% return.
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%
FIQFX
- 1D
- 2.48%
- 1M
- -4.85%
- 6M
- 13.59%
- YTD
- 25.90%
- 1Y
- 52.88%
- 3Y*
- 27.26%
- 5Y*
- 9.08%
- 10Y*
- —
- ALL TIME*
- 14.50%
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. FIQFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PRASX T. Rowe Price New Asia Fund | 16.00% | 26.60% | 6.97% | 0.83% | -22.60% | -4.33% | 29.56% | 26.75% | -0.35% |
FIQFX Fidelity Advisor China Region Fund Class Z | 25.90% | 42.75% | 23.34% | -0.13% | -23.76% | -13.61% | 48.04% | 35.33% | -1.81% |
Correlation
The correlation between PRASX and FIQFX is 0.91, 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. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.94 |
The correlation between PRASX and FIQFX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
PRASX vs. FIQFX — Risk / Return Rank
PRASX
FIQFX
PRASX vs. FIQFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Asia Fund (PRASX) and Fidelity Advisor China Region Fund Class Z (FIQFX). 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 | FIQFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 4.07 | -2.17 |
| Martin ratioReturn relative to average drawdown | 6.26 | 11.59 | -5.33 |
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Drawdowns
PRASX vs. FIQFX - Drawdown Comparison
The maximum PRASX drawdown since its inception was -70.53%, which is greater than FIQFX's maximum drawdown of -58.33%. Use the drawdown chart below to compare losses from any high point for PRASX and FIQFX.
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Drawdown Indicators
| PRASX | FIQFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.53% | -58.33% | -12.20% |
Max Drawdown (1Y)Largest decline over 1 year | -15.91% | -12.23% | -3.68% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | -21.98% | +3.64% |
Max Drawdown (5Y)Largest decline over 5 years | -39.37% | -48.10% | +8.73% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | — | — |
Current DrawdownCurrent decline from peak | -12.44% | -10.06% | -2.38% |
Average DrawdownAverage peak-to-trough decline | -18.47% | -22.07% | +3.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.82% | 4.29% | +0.53% |
Volatility
PRASX vs. FIQFX - Volatility Comparison
T. Rowe Price New Asia Fund (PRASX) has a higher volatility of 11.21% compared to Fidelity Advisor China Region Fund Class Z (FIQFX) at 8.71%. This indicates that PRASX's price experiences larger fluctuations and is considered to be riskier than FIQFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRASX | FIQFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.21% | 8.71% | +2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 23.11% | 20.80% | +2.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.28% | 24.78% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.28% | 24.69% | -4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 24.36% | -5.40% |
PRASX vs. FIQFX - Expense Ratio Comparison
PRASX has a 0.99% expense ratio, which is higher than FIQFX's 0.80% expense ratio.
Dividends
PRASX vs. FIQFX - Dividend Comparison
PRASX's dividend yield for the trailing twelve months is around 0.54%, less than FIQFX's 1.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIQFX Fidelity Advisor China Region Fund Class Z | 1.64% | 2.07% | 1.58% | 2.14% | 0.86% | 11.06% | 4.98% | 0.84% | 1.09% | 0.00% | 0.00% | 0.00% |
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 0.91, PRASX and FIQFX 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 FIQFX (8.71%). In terms of maximum drawdown, PRASX dropped -70.53% vs FIQFX's -58.33%.
FIQFX currently has the higher Sharpe Ratio (2.01 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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