PRLAX vs. ILF
PRLAX (T. Rowe Price Latin America Fund) and ILF (iShares Latin American 40 ETF) are both Latin America Equities funds. Over the past 10 years, PRLAX returned 7.62%/yr vs 8.33%/yr for ILF. Their correlation of 0.93 suggests significant overlap in exposure. PRLAX charges 1.46%/yr vs 0.48%/yr for ILF.
Performance
PRLAX vs. ILF - Performance Comparison
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Returns By Period
In the year-to-date period, PRLAX achieves a 8.96% return, which is significantly lower than ILF's 11.66% return. Over the past 10 years, PRLAX has underperformed ILF with an annualized return of 7.62%, while ILF has yielded a comparatively higher 8.33% annualized return.
PRLAX
- 1D
- 0.37%
- 1M
- -2.98%
- YTD
- 8.96%
- 6M
- 7.15%
- 1Y
- 28.78%
- 3Y*
- 12.22%
- 5Y*
- 5.99%
- 10Y*
- 7.62%
ILF
- 1D
- -2.72%
- 1M
- -4.92%
- YTD
- 11.66%
- 6M
- 10.51%
- 1Y
- 39.82%
- 3Y*
- 15.62%
- 5Y*
- 8.53%
- 10Y*
- 8.33%
PRLAX vs. ILF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRLAX T. Rowe Price Latin America Fund | 8.96% | 45.79% | -23.09% | 34.73% | 0.23% | -14.98% | -7.55% | 27.23% | -8.27% | 28.54% |
ILF iShares Latin American 40 ETF | 11.66% | 52.65% | -23.11% | 33.14% | 9.81% | -13.59% | -11.71% | 13.77% | -6.85% | 26.33% |
Correlation
The correlation between PRLAX and ILF is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2001 | 0.93 |
The correlation between PRLAX and ILF has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
PRLAX vs. ILF — Risk / Return Rank
PRLAX
ILF
PRLAX vs. ILF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Latin America Fund (PRLAX) and iShares Latin American 40 ETF (ILF). 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.
| PRLAX | ILF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.31 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 3.16 | -0.99 |
| Martin ratioReturn relative to average drawdown | 6.63 | 9.70 | -3.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRLAX | ILF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 1.84 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.37 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.29 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.30 | -0.07 |
Drawdowns
PRLAX vs. ILF - Drawdown Comparison
The maximum PRLAX drawdown since its inception was -70.03%, roughly equal to the maximum ILF drawdown of -67.48%. Use the drawdown chart below to compare losses from any high point for PRLAX and ILF.
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Drawdown Indicators
| PRLAX | ILF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.03% | -67.48% | -2.55% |
Max Drawdown (1Y)Largest decline over 1 year | -13.65% | -12.67% | -0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -23.60% | -23.97% | +0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -30.74% | -29.71% | -1.03% |
Max Drawdown (10Y)Largest decline over 10 years | -49.80% | -57.79% | +7.99% |
Current DrawdownCurrent decline from peak | -8.99% | -10.76% | +1.77% |
Average DrawdownAverage peak-to-trough decline | -23.82% | -23.94% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 4.12% | +0.34% |
Volatility
PRLAX vs. ILF - Volatility Comparison
T. Rowe Price Latin America Fund (PRLAX) and iShares Latin American 40 ETF (ILF) have volatilities of 6.32% and 6.49%, 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.
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Volatility by Period
| PRLAX | ILF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.32% | 6.49% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 18.26% | 18.52% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.39% | 21.76% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.89% | 23.18% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.69% | 28.44% | -2.75% |
PRLAX vs. ILF - Expense Ratio Comparison
PRLAX has a 1.46% expense ratio, which is higher than ILF's 0.48% expense ratio.
Dividends
PRLAX vs. ILF - Dividend Comparison
PRLAX's dividend yield for the trailing twelve months is around 6.51%, more than ILF's 3.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ILF iShares Latin American 40 ETF | 3.93% | 4.39% | 7.44% | 4.61% | 12.72% | 8.47% | 1.88% | 3.09% | 3.12% | 1.80% | 1.59% | 3.25% |
PRLAX T. Rowe Price Latin America Fund | 6.51% | 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
With a correlation of 0.96, PRLAX and ILF 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.
ILF has higher volatility (6.49%) compared to PRLAX (6.32%). In terms of maximum drawdown, PRLAX dropped -70.03% vs ILF's -67.48%.
ILF currently has the higher Sharpe Ratio (1.84 vs 1.38), 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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