PRLAX vs. FLFAX

Last updated Jun 24, 2026

PRLAX (T. Rowe Price Latin America Fund) and FLFAX (Fidelity Advisor Latin America Fund Class A) are both Latin America Equities funds. Their correlation of 0.89 suggests significant overlap in exposure. PRLAX charges 1.46%/yr vs 1.33%/yr for FLFAX.

Performance

PRLAX vs. FLFAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Latin America Fund (PRLAX) and Fidelity Advisor Latin America Fund Class A (FLFAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PRLAX

• 1D: 0.51%
• 1M: -0.88%
• YTD: 7.60%
• 6M: 7.40%
• 1Y: 27.05%
• 3Y*: 9.59%
• 5Y*: 5.39%
• 10Y*: 7.44%

FLFAX

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

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

PRLAX vs. FLFAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRLAX T. Rowe Price Latin America Fund	7.60%	45.79%	-23.09%	34.73%	0.23%	-14.98%	-7.55%	27.23%	-8.27%	28.54%
FLFAX Fidelity Advisor Latin America Fund Class A	0.00%	0.00%	-19.27%	23.58%	1.05%	-15.81%	-20.81%	40.23%	-10.73%	30.08%

Correlation

The correlation between PRLAX and FLFAX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 28, 2010	0.89

The correlation between PRLAX and FLFAX shifts across timeframes, from 0.52 (3 years) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PRLAX vs. FLFAX — Risk / Return Rank

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

PRLAX

PRLAX Risk / Return Rank: 23
PRLAX Sharpe Ratio Rank: 21
PRLAX Sortino Ratio Rank: 20
PRLAX Omega Ratio Rank: 21
PRLAX Calmar Ratio Rank: 30
PRLAX Martin Ratio Rank: 23

FLFAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PRLAX vs. FLFAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Latin America Fund (PRLAX) and Fidelity Advisor Latin America Fund Class A (FLFAX). 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.

	PRLAX	FLFAX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	—	—
Sortino ratio: Return per unit of downside risk	1.73	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.93	—	—
Martin ratio: Return relative to average drawdown	5.22	—	—

Drawdowns

Drawdown Indicators

	PRLAX	FLFAX	Difference
Max Drawdown Largest peak-to-trough decline	-70.03%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.80%	—	—
Current Drawdown Current decline from peak	-10.12%	—	—
Average Drawdown Average peak-to-trough decline	-23.79%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.14%	—	—

Volatility

Volatility by Period

	PRLAX	FLFAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.01%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.99%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.68%	—	—

PRLAX vs. FLFAX - Expense Ratio Comparison

PRLAX has a 1.46% expense ratio, which is higher than FLFAX's 1.33% expense ratio.

Dividends

PRLAX vs. FLFAX - Dividend Comparison

PRLAX's dividend yield for the trailing twelve months is around 6.59%, while FLFAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLFAX Fidelity Advisor Latin America Fund Class A	0.00%	0.00%	2.16%	3.91%	8.88%	2.44%	0.01%	2.03%	1.96%	1.18%	2.23%	1.86%
PRLAX T. Rowe Price Latin America Fund	6.59%	7.09%	7.84%	2.44%	3.10%	9.92%	1.09%	10.55%	2.41%	1.30%	1.45%	6.65%

Frequently Asked Questions

Can I hold both PRLAX and FLFAX in my portfolio?

PRLAX and FLFAX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.