PRESX vs. EUGDX

Last updated Jun 4, 2026

PRESX (T. Rowe Price European Stock Fund) and EUGDX (Morgan Stanley Europe Opportunity Fund Inc.) are both Europe Equities funds. Their correlation of 0.91 suggests significant overlap in exposure. PRESX charges 1.03%/yr vs 1.05%/yr for EUGDX.

Performance

PRESX vs. EUGDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price European Stock Fund (PRESX) and Morgan Stanley Europe Opportunity Fund Inc. (EUGDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PRESX

• 1D: 0.53%
• 1M: 5.33%
• YTD: 5.66%
• 6M: 7.68%
• 1Y: 10.76%
• 3Y*: 11.25%
• 5Y*: 4.61%
• 10Y*: 7.18%

EUGDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRESX vs. EUGDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRESX T. Rowe Price European Stock Fund	5.66%	21.46%	1.83%	19.07%	-21.76%	14.81%	12.53%	26.89%	-12.74%	25.74%
EUGDX Morgan Stanley Europe Opportunity Fund Inc.	-4.82%	11.93%	12.41%	25.16%	-44.49%	15.80%	55.57%	27.34%	-13.02%	23.11%

Correlation

The correlation between PRESX and EUGDX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jul 29, 1997	0.91

The correlation between PRESX and EUGDX shifts across timeframes, from 0.79 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PRESX vs. EUGDX — Risk / Return Rank

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

PRESX

PRESX Risk / Return Rank: 8
PRESX Sharpe Ratio Rank: 8
PRESX Sortino Ratio Rank: 8
PRESX Omega Ratio Rank: 8
PRESX Calmar Ratio Rank: 8
PRESX Martin Ratio Rank: 9

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.

PRESX vs. EUGDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price European Stock Fund (PRESX) and Morgan Stanley Europe Opportunity Fund Inc. (EUGDX). 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.

	PRESX	EUGDX	Difference
Sharpe ratio: Return per unit of total volatility	0.64	—	—
Sortino ratio: Return per unit of downside risk	1.00	—	—
Omega ratio: Gain probability vs. loss probability	1.12	—	—
Calmar ratio: Return relative to maximum drawdown	0.78	—	—
Martin ratio: Return relative to average drawdown	2.61	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PRESX	EUGDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	—	—

Drawdowns

Drawdown Indicators

	PRESX	EUGDX	Difference
Max Drawdown Largest peak-to-trough decline	-59.86%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-12.69%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.63%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.78%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.78%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-11.99%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	—	—

Volatility

Volatility by Period

	PRESX	EUGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	—	—

PRESX vs. EUGDX - Expense Ratio Comparison

PRESX has a 1.03% expense ratio, which is lower than EUGDX's 1.05% expense ratio.

Dividends

PRESX vs. EUGDX - Dividend Comparison

PRESX's dividend yield for the trailing twelve months is around 10.16%, more than EUGDX's 0.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUGDX Morgan Stanley Europe Opportunity Fund Inc.	0.66%	0.62%	0.00%	0.00%	0.00%	5.45%	7.53%	3.27%	1.02%	0.90%	2.75%	2.30%
PRESX T. Rowe Price European Stock Fund	10.16%	10.74%	6.85%	3.77%	1.32%	3.96%	0.86%	1.59%	2.67%	2.08%	3.03%	3.20%

Frequently Asked Questions

Can I hold both PRESX and EUGDX in my portfolio?

PRESX and EUGDX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.