PRASX vs. TRCLX
PRASX (T. Rowe Price New Asia Fund) and TRCLX (T. Rowe Price China Evolution Equity Fund) are both mutual funds - PRASX is a Asia Pacific Equities fund managed by T. Rowe Price, while TRCLX is a China Equities fund managed by T. Rowe Price. Over the past 5 years, PRASX returned 3.53%/yr vs 2.02%/yr for TRCLX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. PRASX charges 0.99%/yr vs 1.04%/yr for TRCLX.
Performance
PRASX vs. TRCLX - 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 TRCLX's 18.94% 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%
TRCLX
- 1D
- 0.18%
- 1M
- -11.88%
- 6M
- 8.51%
- YTD
- 18.94%
- 1Y
- 42.58%
- 3Y*
- 15.02%
- 5Y*
- 2.02%
- 10Y*
- —
- ALL TIME*
- 11.17%
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. TRCLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PRASX T. Rowe Price New Asia Fund | 16.00% | 26.60% | 6.97% | 0.83% | -22.60% | -4.33% | 29.56% | 5.67% |
TRCLX T. Rowe Price China Evolution Equity Fund | 18.94% | 36.23% | 10.95% | -15.51% | -26.24% | 6.28% | 59.73% | 6.20% |
Correlation
The correlation between PRASX and TRCLX is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2019 | 0.78 |
The correlation between PRASX and TRCLX shifts across timeframes, from 0.68 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PRASX vs. TRCLX — Risk / Return Rank
PRASX
TRCLX
PRASX vs. TRCLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Asia Fund (PRASX) and T. Rowe Price China Evolution Equity Fund (TRCLX). 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 | TRCLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 2.30 | -0.40 |
| Martin ratioReturn relative to average drawdown | 6.26 | 8.66 | -2.40 |
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Drawdowns
PRASX vs. TRCLX - Drawdown Comparison
The maximum PRASX drawdown since its inception was -70.53%, which is greater than TRCLX's maximum drawdown of -50.67%. Use the drawdown chart below to compare losses from any high point for PRASX and TRCLX.
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Drawdown Indicators
| PRASX | TRCLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.53% | -50.67% | -19.86% |
Max Drawdown (1Y)Largest decline over 1 year | -15.91% | -17.36% | +1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | -23.94% | +5.60% |
Max Drawdown (5Y)Largest decline over 5 years | -39.37% | -47.71% | +8.34% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | — | — |
Current DrawdownCurrent decline from peak | -12.44% | -16.27% | +3.83% |
Average DrawdownAverage peak-to-trough decline | -18.47% | -22.36% | +3.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.82% | 4.61% | +0.21% |
Volatility
PRASX vs. TRCLX - Volatility Comparison
T. Rowe Price New Asia Fund (PRASX) and T. Rowe Price China Evolution Equity Fund (TRCLX) have volatilities of 11.21% and 11.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRASX | TRCLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.21% | 11.25% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 23.11% | 19.96% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.28% | 23.19% | +2.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.28% | 23.68% | -3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 23.85% | -4.89% |
PRASX vs. TRCLX - Expense Ratio Comparison
PRASX has a 0.99% expense ratio, which is lower than TRCLX's 1.04% expense ratio.
Dividends
PRASX vs. TRCLX - Dividend Comparison
PRASX's dividend yield for the trailing twelve months is around 0.54%, less than TRCLX's 1.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TRCLX T. Rowe Price China Evolution Equity Fund | 1.37% | 1.64% | 1.78% | 2.56% | 2.76% | 8.23% | 1.50% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PRASX and TRCLX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRCLX has higher volatility (11.25%) compared to PRASX (11.21%). In terms of maximum drawdown, PRASX dropped -70.53% vs TRCLX's -50.67%.
TRCLX currently has the higher Sharpe Ratio (1.72 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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