PRESX vs. VEUAX

Last updated Jun 4, 2026

PRESX (T. Rowe Price European Stock Fund) and VEUAX (JPMorgan Europe Dynamic Fund) are both Europe Equities funds. Over the past 10 years, PRESX returned 7.18%/yr vs 9.03%/yr for VEUAX. Their correlation of 0.90 suggests significant overlap in exposure. PRESX charges 1.03%/yr vs 1.25%/yr for VEUAX.

Performance

PRESX vs. VEUAX - Performance Comparison

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

Returns By Period

In the year-to-date period, PRESX achieves a 5.66% return, which is significantly higher than VEUAX's 5.17% return. Over the past 10 years, PRESX has underperformed VEUAX with an annualized return of 7.18%, while VEUAX has yielded a comparatively higher 9.03% annualized return.

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%

VEUAX

• 1D: 0.16%
• 1M: 2.61%
• YTD: 5.17%
• 6M: 7.88%
• 1Y: 16.76%
• 3Y*: 18.68%
• 5Y*: 8.99%
• 10Y*: 9.03%

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

PRESX vs. VEUAX - 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%
VEUAX JPMorgan Europe Dynamic Fund	5.17%	41.51%	3.48%	18.19%	-15.39%	17.68%	8.45%	21.51%	-18.69%	22.26%

Correlation

The correlation between PRESX and VEUAX 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	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Nov 3, 1995	0.90

The correlation between PRESX and VEUAX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

PRESX vs. VEUAX — 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

VEUAX

VEUAX Risk / Return Rank: 14
VEUAX Sharpe Ratio Rank: 13
VEUAX Sortino Ratio Rank: 14
VEUAX Omega Ratio Rank: 13
VEUAX Calmar Ratio Rank: 14
VEUAX Martin Ratio Rank: 17

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. VEUAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price European Stock Fund (PRESX) and JPMorgan Europe Dynamic Fund (VEUAX). 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	VEUAX	Difference
Sharpe ratio: Return per unit of total volatility	0.64	1.01	-0.37
Sortino ratio: Return per unit of downside risk	1.00	1.51	-0.51
Omega ratio: Gain probability vs. loss probability	1.12	1.18	-0.06
Calmar ratio: Return relative to maximum drawdown	0.78	1.31	-0.53
Martin ratio: Return relative to average drawdown	2.61	4.63	-2.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRESX vs. VEUAX - Sharpe Ratio Comparison

The current PRESX Sharpe Ratio is 0.64, which is lower than the VEUAX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of PRESX and VEUAX, 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

	PRESX	VEUAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	1.01	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.51	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.48	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.44	-0.04

Drawdowns

PRESX vs. VEUAX - Drawdown Comparison

The maximum PRESX drawdown since its inception was -59.86%, smaller than the maximum VEUAX drawdown of -63.73%. Use the drawdown chart below to compare losses from any high point for PRESX and VEUAX.

Drawdown Indicators

	PRESX	VEUAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.86%	-63.73%	+3.87%
Max Drawdown (1Y) Largest decline over 1 year	-12.69%	-12.07%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-14.63%	-12.89%	-1.74%
Max Drawdown (5Y) Largest decline over 5 years	-38.78%	-30.94%	-7.84%
Max Drawdown (10Y) Largest decline over 10 years	-38.78%	-44.64%	+5.86%
Current Drawdown Current decline from peak	0.00%	-3.37%	+3.37%
Average Drawdown Average peak-to-trough decline	-11.99%	-15.45%	+3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	3.41%	+0.37%

Volatility

PRESX vs. VEUAX - Volatility Comparison

T. Rowe Price European Stock Fund (PRESX) and JPMorgan Europe Dynamic Fund (VEUAX) have volatilities of 5.46% and 5.59%, 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.

Volatility by Period

	PRESX	VEUAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	5.59%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	12.49%	13.15%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	15.77%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	17.57%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	18.81%	-0.86%

PRESX vs. VEUAX - Expense Ratio Comparison

PRESX has a 1.03% expense ratio, which is lower than VEUAX's 1.25% expense ratio.

Dividends

PRESX vs. VEUAX - Dividend Comparison

PRESX's dividend yield for the trailing twelve months is around 10.16%, more than VEUAX's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VEUAX JPMorgan Europe Dynamic Fund	3.28%	3.45%	3.81%	3.02%	0.77%	2.03%	1.01%	2.82%	2.60%	1.38%	1.93%	1.25%

Frequently Asked Questions

Can I hold both PRESX and VEUAX in my portfolio?

With a correlation of 0.91, PRESX and VEUAX 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.

Which is riskier, PRESX or VEUAX?

VEUAX has higher volatility (5.59%) compared to PRESX (5.46%). In terms of maximum drawdown, PRESX dropped -59.86% vs VEUAX's -63.73%.

Which has better risk-adjusted returns?

VEUAX currently has the higher Sharpe Ratio (1.01 vs 0.64), 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.