PRASX vs. MINDX
PRASX (T. Rowe Price New Asia Fund) and MINDX (Matthews India Fund) are both Asia Pacific Equities funds. Over the past 10 years, PRASX returned 10.37%/yr vs 6.25%/yr for MINDX. A 0.62 correlation means they provide meaningful diversification when combined. PRASX charges 0.99%/yr vs 1.15%/yr for MINDX.
Performance
PRASX vs. MINDX - Performance Comparison
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Returns By Period
In the year-to-date period, PRASX achieves a 32.48% return, which is significantly higher than MINDX's -8.48% return. Over the past 10 years, PRASX has outperformed MINDX with an annualized return of 10.37%, while MINDX has yielded a comparatively lower 6.25% 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%
MINDX
- 1D
- 0.50%
- 1M
- 5.31%
- YTD
- -8.48%
- 6M
- -9.12%
- 1Y
- -5.44%
- 3Y*
- 5.12%
- 5Y*
- 4.07%
- 10Y*
- 6.25%
PRASX vs. MINDX - 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% |
MINDX Matthews India Fund | -8.48% | 1.61% | 9.99% | 23.14% | -9.87% | 17.87% | 16.46% | -0.79% | -9.80% | 33.76% |
Correlation
The correlation between PRASX and MINDX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2005 | 0.62 |
Over the past year, the correlation between PRASX and MINDX has dropped to 0.35 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
PRASX vs. MINDX — Risk / Return Rank
PRASX
MINDX
PRASX vs. MINDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Asia Fund (PRASX) and Matthews India Fund (MINDX). 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 | MINDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.95 | ||
| Sortino ratioReturn per unit of downside risk | +3.59 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 0.95 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | -0.25 | +4.21 |
| Martin ratioReturn relative to average drawdown | 14.70 | -0.59 | +15.29 |
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Drawdowns
PRASX vs. MINDX - Drawdown Comparison
The maximum PRASX drawdown since its inception was -70.53%, roughly equal to the maximum MINDX drawdown of -72.18%. Use the drawdown chart below to compare losses from any high point for PRASX and MINDX.
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Drawdown Indicators
| PRASX | MINDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.53% | -72.18% | +1.65% |
Max Drawdown (1Y)Largest decline over 1 year | -14.39% | -21.96% | +7.57% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | -26.51% | +8.17% |
Max Drawdown (5Y)Largest decline over 5 years | -41.56% | -26.51% | -15.05% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -48.46% | +3.39% |
Current DrawdownCurrent decline from peak | 0.00% | -16.42% | +16.42% |
Average DrawdownAverage peak-to-trough decline | -18.50% | -14.95% | -3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 9.15% | -5.28% |
Volatility
PRASX vs. MINDX - Volatility Comparison
T. Rowe Price New Asia Fund (PRASX) has a higher volatility of 11.93% compared to Matthews India Fund (MINDX) at 4.65%. This indicates that PRASX's price experiences larger fluctuations and is considered to be riskier than MINDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRASX | MINDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.93% | 4.65% | +7.28% |
Volatility (6M)Calculated over the trailing 6-month period | 19.50% | 13.54% | +5.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.91% | 15.97% | +5.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.61% | 15.98% | +3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.59% | 17.48% | +1.11% |
PRASX vs. MINDX - Expense Ratio Comparison
PRASX has a 0.99% expense ratio, which is lower than MINDX's 1.15% expense ratio.
Dividends
PRASX vs. MINDX - Dividend Comparison
PRASX's dividend yield for the trailing twelve months is around 0.47%, less than MINDX's 7.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MINDX Matthews India Fund | 7.39% | 6.76% | 15.03% | 3.07% | 15.30% | 9.87% | 3.03% | 12.04% | 16.50% | 0.00% | 0.00% | 0.99% |
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
PRASX and MINDX 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 (11.93%) compared to MINDX (4.65%). In terms of maximum drawdown, PRASX dropped -70.53% vs MINDX's -72.18%.
PRASX currently has the higher Sharpe Ratio (2.61 vs -0.34), 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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