PRASX vs. INDAX
PRASX (T. Rowe Price New Asia Fund) and INDAX (ALPS/Kotak India ESG Fund) are both mutual funds - PRASX is a Asia Pacific Equities fund managed by T. Rowe Price, while INDAX is a India Equities fund managed by ALPS. Over the past 10 years, PRASX returned 8.00%/yr vs 6.58%/yr for INDAX. Their 0.55 correlation means they have sometimes moved together and sometimes differently. PRASX charges 0.99%/yr vs 1.33%/yr for INDAX.
Performance
PRASX vs. INDAX - 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 INDAX's -9.24% return. Over the past 10 years, PRASX has outperformed INDAX with an annualized return of 8.00%, while INDAX has yielded a comparatively lower 6.58% annualized 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%
INDAX
- 1D
- 0.56%
- 1M
- 1.12%
- 6M
- -4.37%
- YTD
- -9.24%
- 1Y
- -8.56%
- 3Y*
- 3.17%
- 5Y*
- 2.40%
- 10Y*
- 6.58%
- ALL TIME*
- 6.63%
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. INDAX - 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% |
INDAX ALPS/Kotak India ESG Fund | -9.24% | 2.03% | 10.94% | 16.77% | -12.62% | 26.37% | 14.68% | 8.41% | -12.51% | 39.77% |
Correlation
The correlation between PRASX and INDAX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2011 | 0.55 |
Over the past year, the correlation between PRASX and INDAX has dropped to 0.35 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
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Return for Risk
PRASX vs. INDAX — Risk / Return Rank
PRASX
INDAX
PRASX vs. INDAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Asia Fund (PRASX) and ALPS/Kotak India ESG Fund (INDAX). 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 | INDAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.77 | ||
| Sortino ratioReturn per unit of downside risk | +2.38 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.91 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | -0.45 | +2.35 |
| Martin ratioReturn relative to average drawdown | 6.26 | -0.93 | +7.18 |
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Drawdowns
PRASX vs. INDAX - Drawdown Comparison
The maximum PRASX drawdown since its inception was -70.53%, which is greater than INDAX's maximum drawdown of -43.98%. Use the drawdown chart below to compare losses from any high point for PRASX and INDAX.
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Drawdown Indicators
| PRASX | INDAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.53% | -43.98% | -26.55% |
Max Drawdown (1Y)Largest decline over 1 year | -15.91% | -19.70% | +3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | -23.49% | +5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -39.37% | -23.49% | -15.88% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -43.98% | -1.09% |
Current DrawdownCurrent decline from peak | -12.44% | -15.60% | +3.16% |
Average DrawdownAverage peak-to-trough decline | -18.47% | -10.83% | -7.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.82% | 9.56% | -4.74% |
Volatility
PRASX vs. INDAX - Volatility Comparison
T. Rowe Price New Asia Fund (PRASX) has a higher volatility of 11.21% compared to ALPS/Kotak India ESG Fund (INDAX) at 5.52%. This indicates that PRASX's price experiences larger fluctuations and is considered to be riskier than INDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRASX | INDAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.21% | 5.52% | +5.69% |
Volatility (6M)Calculated over the trailing 6-month period | 23.11% | 13.41% | +9.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.28% | 15.50% | +9.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.28% | 15.31% | +4.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 16.91% | +2.05% |
PRASX vs. INDAX - Expense Ratio Comparison
PRASX has a 0.99% expense ratio, which is lower than INDAX's 1.33% expense ratio.
Dividends
PRASX vs. INDAX - Dividend Comparison
PRASX's dividend yield for the trailing twelve months is around 0.54%, less than INDAX's 6.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDAX ALPS/Kotak India ESG Fund | 6.19% | 5.62% | 16.14% | 4.43% | 1.65% | 5.48% | 0.00% | 1.30% | 6.55% | 2.79% | 1.32% | 15.14% |
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
PRASX and INDAX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRASX has higher volatility (11.21%) compared to INDAX (5.52%). In terms of maximum drawdown, PRASX dropped -70.53% vs INDAX's -43.98%.
PRASX currently has the higher Sharpe Ratio (1.20 vs -0.57), 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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