PRLAX vs. PRDGX

Last updated Jun 24, 2026

PRLAX (T. Rowe Price Latin America Fund) and PRDGX (T. Rowe Price Dividend Growth Fund, Inc.) are both mutual funds - PRLAX is a Latin America Equities fund managed by T. Rowe Price, while PRDGX is a Large Cap Blend Equities fund actively managed by T. Rowe Price. Over the past 10 years, PRLAX returned 7.44%/yr vs 13.21%/yr for PRDGX. A 0.58 correlation means they provide meaningful diversification when combined. PRLAX charges 1.46%/yr vs 0.64%/yr for PRDGX.

Performance

PRLAX vs. PRDGX - Performance Comparison

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

Returns By Period

In the year-to-date period, PRLAX achieves a 7.60% return, which is significantly lower than PRDGX's 8.54% return. Over the past 10 years, PRLAX has underperformed PRDGX with an annualized return of 7.44%, while PRDGX has yielded a comparatively higher 13.21% annualized return.

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%

PRDGX

• 1D: 0.15%
• 1M: 1.74%
• YTD: 8.54%
• 6M: 7.79%
• 1Y: 18.04%
• 3Y*: 15.62%
• 5Y*: 10.33%
• 10Y*: 13.21%

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

PRLAX vs. PRDGX - 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%
PRDGX T. Rowe Price Dividend Growth Fund, Inc.	8.54%	14.74%	13.48%	13.68%	-10.22%	26.03%	13.92%	31.76%	-1.06%	18.89%

Correlation

The correlation between PRLAX and PRDGX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 3, 1994	0.58

The correlation between PRLAX and PRDGX has been stable across timeframes, ranging from 0.49 to 0.58 - a consistent structural relationship.

Return for Risk

PRLAX vs. PRDGX — 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

PRDGX

PRDGX Risk / Return Rank: 52
PRDGX Sharpe Ratio Rank: 51
PRDGX Sortino Ratio Rank: 52
PRDGX Omega Ratio Rank: 48
PRDGX Calmar Ratio Rank: 51
PRDGX Martin Ratio Rank: 57

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. PRDGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Latin America Fund (PRLAX) and T. Rowe Price Dividend Growth Fund, Inc. (PRDGX). 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	PRDGX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.96	-0.73
Sortino ratio: Return per unit of downside risk	1.73	2.79	-1.06
Omega ratio: Gain probability vs. loss probability	1.22	1.35	-0.13
Calmar ratio: Return relative to maximum drawdown	1.93	2.62	-0.69
Martin ratio: Return relative to average drawdown	5.22	10.76	-5.54

PRLAX vs. PRDGX - Sharpe Ratio Comparison

The current PRLAX Sharpe Ratio is 1.23, which is lower than the PRDGX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of PRLAX and PRDGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PRLAX vs. PRDGX - Drawdown Comparison

The maximum PRLAX drawdown since its inception was -70.03%, which is greater than PRDGX's maximum drawdown of -49.79%. Use the drawdown chart below to compare losses from any high point for PRLAX and PRDGX.

Drawdown Indicators

	PRLAX	PRDGX	Difference
Max Drawdown Largest peak-to-trough decline	-70.03%	-49.79%	-20.24%
Max Drawdown (1Y) Largest decline over 1 year	-13.94%	-7.34%	-6.60%
Max Drawdown (3Y) Largest decline over 3 years	-23.60%	-14.15%	-9.45%
Max Drawdown (5Y) Largest decline over 5 years	-29.69%	-19.31%	-10.38%
Max Drawdown (10Y) Largest decline over 10 years	-49.80%	-33.18%	-16.62%
Current Drawdown Current decline from peak	-10.12%	-0.18%	-9.94%
Average Drawdown Average peak-to-trough decline	-23.79%	-5.41%	-18.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.14%	1.79%	+3.35%

Volatility

PRLAX vs. PRDGX - Volatility Comparison

T. Rowe Price Latin America Fund (PRLAX) has a higher volatility of 5.99% compared to T. Rowe Price Dividend Growth Fund, Inc. (PRDGX) at 2.73%. This indicates that PRLAX's price experiences larger fluctuations and is considered to be riskier than PRDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRLAX	PRDGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.99%	2.73%	+3.26%
Volatility (6M) Calculated over the trailing 6-month period	18.07%	7.66%	+10.41%
Volatility (1Y) Calculated over the trailing 1-year period	22.01%	9.87%	+12.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.99%	14.06%	+8.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.68%	15.89%	+9.79%

PRLAX vs. PRDGX - Expense Ratio Comparison

PRLAX has a 1.46% expense ratio, which is higher than PRDGX's 0.64% expense ratio.

Dividends

PRLAX vs. PRDGX - Dividend Comparison

PRLAX's dividend yield for the trailing twelve months is around 6.59%, less than PRDGX's 7.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRDGX T. Rowe Price Dividend Growth Fund, Inc.	7.46%	8.02%	4.66%	2.78%	3.81%	2.00%	1.03%	2.33%	3.67%	1.82%	3.07%	7.57%
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 PRDGX in my portfolio?

PRLAX and PRDGX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRLAX or PRDGX?

PRLAX has higher volatility (5.99%) compared to PRDGX (2.73%). In terms of maximum drawdown, PRLAX dropped -70.03% vs PRDGX's -49.79%.

Which has better risk-adjusted returns?

PRDGX currently has the higher Sharpe Ratio (1.96 vs 1.23), 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.