PRASX vs. MAPTX
PRASX (T. Rowe Price New Asia Fund) and MAPTX (Matthews Pacific Tiger Fund) are both Asia Pacific Equities funds. Over the past 10 years, PRASX returned 10.37%/yr vs 7.36%/yr for MAPTX. Their correlation of 0.88 suggests significant overlap in exposure. PRASX charges 0.99%/yr vs 1.09%/yr for MAPTX.
Performance
PRASX vs. MAPTX - Performance Comparison
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Returns By Period
In the year-to-date period, PRASX achieves a 32.48% return, which is significantly lower than MAPTX's 38.53% return. Over the past 10 years, PRASX has outperformed MAPTX with an annualized return of 10.37%, while MAPTX has yielded a comparatively lower 7.36% annualized return.
PRASX
- 1D
- 0.76%
- 1M
- 9.54%
- YTD
- 32.48%
- 6M
- 34.20%
- 1Y
- 57.12%
- 3Y*
- 21.34%
- 5Y*
- 4.94%
- 10Y*
- 10.37%
MAPTX
- 1D
- 0.84%
- 1M
- 9.12%
- YTD
- 38.53%
- 6M
- 40.60%
- 1Y
- 68.37%
- 3Y*
- 21.81%
- 5Y*
- 2.00%
- 10Y*
- 7.36%
PRASX vs. MAPTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRASX T. Rowe Price New Asia Fund | 32.48% | 26.60% | 6.97% | 0.83% | -22.60% | -4.33% | 29.56% | 26.75% | -15.13% | 40.64% |
MAPTX Matthews Pacific Tiger Fund | 38.53% | 30.07% | 3.25% | -4.82% | -20.69% | -17.92% | 28.88% | 10.75% | -11.05% | 39.94% |
Correlation
The correlation between PRASX and MAPTX is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 1994 | 0.88 |
The correlation between PRASX and MAPTX has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
PRASX vs. MAPTX — Risk / Return Rank
PRASX
MAPTX
PRASX vs. MAPTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Asia Fund (PRASX) and Matthews Pacific Tiger Fund (MAPTX). 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 | MAPTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.63 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 5.12 | -1.15 |
| Martin ratioReturn relative to average drawdown | 14.70 | 18.58 | -3.88 |
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Drawdowns
PRASX vs. MAPTX - Drawdown Comparison
The maximum PRASX drawdown since its inception was -70.53%, roughly equal to the maximum MAPTX drawdown of -69.79%. Use the drawdown chart below to compare losses from any high point for PRASX and MAPTX.
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Drawdown Indicators
| PRASX | MAPTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.53% | -69.79% | -0.74% |
Max Drawdown (1Y)Largest decline over 1 year | -14.39% | -14.03% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | -22.23% | +3.89% |
Max Drawdown (5Y)Largest decline over 5 years | -41.56% | -48.55% | +6.99% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -52.31% | +7.24% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -18.50% | -17.42% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 3.81% | +0.06% |
Volatility
PRASX vs. MAPTX - Volatility Comparison
The current volatility for T. Rowe Price New Asia Fund (PRASX) is 11.93%, while Matthews Pacific Tiger Fund (MAPTX) has a volatility of 12.64%. This indicates that PRASX experiences smaller price fluctuations and is considered to be less risky than MAPTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRASX | MAPTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.93% | 12.64% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 19.50% | 20.22% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.91% | 22.31% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.61% | 20.59% | -0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.59% | 18.53% | +0.06% |
PRASX vs. MAPTX - Expense Ratio Comparison
PRASX has a 0.99% expense ratio, which is lower than MAPTX's 1.09% expense ratio.
Dividends
PRASX vs. MAPTX - Dividend Comparison
PRASX's dividend yield for the trailing twelve months is around 0.47%, less than MAPTX's 1.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAPTX Matthews Pacific Tiger Fund | 1.68% | 2.33% | 8.93% | 2.93% | 8.52% | 4.85% | 5.74% | 3.44% | 4.78% | 1.25% | 2.61% | 11.18% |
PRASX T. Rowe Price New Asia Fund | 0.47% | 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 MAPTX 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.
MAPTX has higher volatility (12.64%) compared to PRASX (11.93%). In terms of maximum drawdown, PRASX dropped -70.53% vs MAPTX's -69.79%.
MAPTX currently has the higher Sharpe Ratio (3.22 vs 2.61), 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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