PRIDX vs. PRNEX
PRIDX (T. Rowe Price International Discovery Fund) and PRNEX (T. Rowe Price New Era Fund) are both mutual funds - PRIDX is a Foreign Small & Mid Cap Equities fund managed by T. Rowe Price, while PRNEX is a Energy Equities fund managed by T. Rowe Price. Over the past 10 years, PRIDX returned 9.52%/yr vs 8.67%/yr for PRNEX. At a 0.50 correlation, their price movements are largely independent. PRIDX charges 1.23%/yr vs 0.56%/yr for PRNEX.
Performance
PRIDX vs. PRNEX - Performance Comparison
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Returns By Period
In the year-to-date period, PRIDX achieves a 8.65% return, which is significantly lower than PRNEX's 17.67% return. Over the past 10 years, PRIDX has outperformed PRNEX with an annualized return of 9.52%, while PRNEX has yielded a comparatively lower 8.67% annualized return.
PRIDX
- 1D
- -0.28%
- 1M
- 0.54%
- YTD
- 8.65%
- 6M
- 8.62%
- 1Y
- 21.77%
- 3Y*
- 15.06%
- 5Y*
- 1.77%
- 10Y*
- 9.52%
PRNEX
- 1D
- 1.27%
- 1M
- -3.97%
- YTD
- 17.67%
- 6M
- 16.89%
- 1Y
- 32.70%
- 3Y*
- 15.40%
- 5Y*
- 11.29%
- 10Y*
- 8.67%
PRIDX vs. PRNEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRIDX T. Rowe Price International Discovery Fund | 8.65% | 25.53% | 3.65% | 13.19% | -30.34% | 7.31% | 38.78% | 25.01% | -17.54% | 38.56% |
PRNEX T. Rowe Price New Era Fund | 17.67% | 18.85% | 4.41% | 1.02% | 7.14% | 25.35% | -2.63% | 16.91% | -16.23% | 10.57% |
Correlation
The correlation between PRIDX and PRNEX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1989 | 0.50 |
The correlation between PRIDX and PRNEX shifts across timeframes, from 0.43 (1 year) to 0.63 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRIDX vs. PRNEX — Risk / Return Rank
PRIDX
PRNEX
PRIDX vs. PRNEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Discovery Fund (PRIDX) and T. Rowe Price New Era Fund (PRNEX). 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.
| PRIDX | PRNEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 4.77 | -3.08 |
| Martin ratioReturn relative to average drawdown | 6.18 | 16.60 | -10.42 |
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Drawdowns
PRIDX vs. PRNEX - Drawdown Comparison
The maximum PRIDX drawdown since its inception was -65.01%, roughly equal to the maximum PRNEX drawdown of -66.56%. Use the drawdown chart below to compare losses from any high point for PRIDX and PRNEX.
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Drawdown Indicators
| PRIDX | PRNEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.01% | -66.56% | +1.55% |
Max Drawdown (1Y)Largest decline over 1 year | -13.50% | -6.59% | -6.91% |
Max Drawdown (3Y)Largest decline over 3 years | -15.86% | -20.19% | +4.33% |
Max Drawdown (5Y)Largest decline over 5 years | -43.86% | -21.50% | -22.36% |
Max Drawdown (10Y)Largest decline over 10 years | -43.86% | -49.64% | +5.78% |
Current DrawdownCurrent decline from peak | -1.52% | -5.40% | +3.88% |
Average DrawdownAverage peak-to-trough decline | -16.34% | -16.28% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.69% | 1.89% | +1.80% |
Volatility
PRIDX vs. PRNEX - Volatility Comparison
The current volatility for T. Rowe Price International Discovery Fund (PRIDX) is 5.20%, while T. Rowe Price New Era Fund (PRNEX) has a volatility of 5.63%. This indicates that PRIDX experiences smaller price fluctuations and is considered to be less risky than PRNEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRIDX | PRNEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 5.63% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 12.52% | 12.03% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.78% | 15.16% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.82% | 18.70% | -1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.65% | 20.63% | -3.98% |
PRIDX vs. PRNEX - Expense Ratio Comparison
PRIDX has a 1.23% expense ratio, which is higher than PRNEX's 0.56% expense ratio.
Dividends
PRIDX vs. PRNEX - Dividend Comparison
PRIDX's dividend yield for the trailing twelve months is around 4.50%, less than PRNEX's 7.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRIDX T. Rowe Price International Discovery Fund | 4.50% | 4.88% | 4.03% | 2.05% | 3.18% | 15.35% | 4.30% | 1.48% | 6.20% | 3.11% | 1.81% | 5.00% |
PRNEX T. Rowe Price New Era Fund | 7.68% | 9.04% | 4.81% | 11.46% | 4.47% | 2.07% | 2.54% | 2.18% | 1.69% | 1.89% | 1.28% | 2.68% |
Frequently Asked Questions
PRIDX and PRNEX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRNEX has higher volatility (5.63%) compared to PRIDX (5.20%). In terms of maximum drawdown, PRIDX dropped -65.01% vs PRNEX's -66.56%.
PRNEX currently has the higher Sharpe Ratio (2.08 vs 1.55), 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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