PRASX vs. VPL

Last updated Jun 3, 2026

PRASX (T. Rowe Price New Asia Fund) and VPL (Vanguard FTSE Pacific ETF) are both Asia Pacific Equities funds. Over the past 10 years, PRASX returned 9.91%/yr vs 10.87%/yr for VPL. A 0.70 correlation means they provide meaningful diversification when combined. PRASX charges 0.99%/yr vs 0.08%/yr for VPL.

Performance

PRASX vs. VPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price New Asia Fund (PRASX) and Vanguard FTSE Pacific ETF (VPL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PRASX having a 29.44% return and VPL slightly higher at 30.65%. Over the past 10 years, PRASX has underperformed VPL with an annualized return of 9.91%, while VPL has yielded a comparatively higher 10.87% annualized return.

PRASX

• 1D: 2.98%
• 1M: 13.02%
• YTD: 29.44%
• 6M: 32.59%
• 1Y: 55.34%
• 3Y*: 19.99%
• 5Y*: 3.98%
• 10Y*: 9.91%

VPL

• 1D: 0.40%
• 1M: 10.55%
• YTD: 30.65%
• 6M: 33.92%
• 1Y: 52.92%
• 3Y*: 23.14%
• 5Y*: 10.67%
• 10Y*: 10.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PRASX vs. VPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRASX T. Rowe Price New Asia Fund	29.44%	26.60%	6.97%	0.83%	-22.60%	-4.33%	29.56%	26.75%	-15.13%	40.64%
VPL Vanguard FTSE Pacific ETF	30.65%	32.66%	1.68%	15.58%	-15.20%	1.10%	16.65%	18.16%	-14.40%	28.85%

Correlation

The correlation between PRASX and VPL is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Mar 11, 2005	0.70

The correlation between PRASX and VPL has been stable across timeframes, ranging from 0.69 to 0.72 - a consistent structural relationship.

Return for Risk

PRASX vs. VPL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRASX

PRASX Risk / Return Rank: 82
PRASX Sharpe Ratio Rank: 90
PRASX Sortino Ratio Rank: 79
PRASX Omega Ratio Rank: 83
PRASX Calmar Ratio Rank: 82
PRASX Martin Ratio Rank: 79

VPL

VPL Risk / Return Rank: 80
VPL Sharpe Ratio Rank: 83
VPL Sortino Ratio Rank: 78
VPL Omega Ratio Rank: 81
VPL Calmar Ratio Rank: 79
VPL Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PRASX vs. VPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Asia Fund (PRASX) and Vanguard FTSE Pacific ETF (VPL). 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.

	PRASX	VPL	Difference
Sharpe ratio Return per unit of total volatility	2.95	2.72	+0.23
Sortino ratio Return per unit of downside risk	3.74	3.55	+0.18
Omega ratio Gain probability vs. loss probability	1.55	1.49	+0.07
Calmar ratio Return relative to maximum drawdown	3.81	4.13	-0.31
Martin ratio Return relative to average drawdown	14.86	16.33	-1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRASX vs. VPL - Sharpe Ratio Comparison

The current PRASX Sharpe Ratio is 2.95, which is comparable to the VPL Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of PRASX and VPL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRASX	VPL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	2.72	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.62	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.63	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.34	+0.12

Drawdowns

PRASX vs. VPL - Drawdown Comparison

The maximum PRASX drawdown since its inception was -70.53%, which is greater than VPL's maximum drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for PRASX and VPL.

Drawdown Indicators

	PRASX	VPL	Difference
Max Drawdown Largest peak-to-trough decline	-70.53%	-55.49%	-15.04%
Max Drawdown (1Y) Largest decline over 1 year	-14.39%	-13.33%	-1.06%
Max Drawdown (3Y) Largest decline over 3 years	-18.34%	-16.35%	-1.99%
Max Drawdown (5Y) Largest decline over 5 years	-41.93%	-31.09%	-10.84%
Max Drawdown (10Y) Largest decline over 10 years	-45.07%	-33.90%	-11.17%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-18.53%	-11.64%	-6.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	3.37%	+0.32%

Volatility

PRASX vs. VPL - Volatility Comparison

T. Rowe Price New Asia Fund (PRASX) has a higher volatility of 8.20% compared to Vanguard FTSE Pacific ETF (VPL) at 7.31%. This indicates that PRASX's price experiences larger fluctuations and is considered to be riskier than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRASX	VPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.20%	7.31%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	16.34%	16.71%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	19.58%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	17.29%	+1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.30%	17.30%	+1.00%

PRASX vs. VPL - Expense Ratio Comparison

PRASX has a 0.99% expense ratio, which is higher than VPL's 0.08% expense ratio.

Dividends

PRASX vs. VPL - Dividend Comparison

PRASX's dividend yield for the trailing twelve months is around 0.48%, less than VPL's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRASX T. Rowe Price New Asia Fund	0.48%	0.62%	1.05%	1.77%	1.96%	14.22%	0.46%	0.77%	7.23%	9.15%	0.46%	1.31%
VPL Vanguard FTSE Pacific ETF	2.72%	4.01%	3.15%	3.12%	2.75%	3.19%	1.81%	2.84%	3.06%	2.57%	2.65%	2.43%

Frequently Asked Questions

Can I hold both PRASX and VPL in my portfolio?

PRASX and VPL have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRASX or VPL?

PRASX has higher volatility (8.20%) compared to VPL (7.31%). In terms of maximum drawdown, PRASX dropped -70.53% vs VPL's -55.49%.

Which has better risk-adjusted returns?

PRASX currently has the higher Sharpe Ratio (2.95 vs 2.72), 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.