PRLAX vs. SLANX

Last updated Jun 4, 2026

PRLAX (T. Rowe Price Latin America Fund) and SLANX (DWS Latin America Equity Fund Class A) are both Latin America Equities funds. Over the past 10 years, PRLAX returned 7.62%/yr vs 11.68%/yr for SLANX. With a 0.96 correlation, they move nearly in lockstep. PRLAX charges 1.46%/yr vs 1.51%/yr for SLANX.

Performance

PRLAX vs. SLANX - Performance Comparison

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

Returns By Period

In the year-to-date period, PRLAX achieves a 8.96% return, which is significantly lower than SLANX's 11.52% return. Over the past 10 years, PRLAX has underperformed SLANX with an annualized return of 7.62%, while SLANX has yielded a comparatively higher 11.68% 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%

SLANX

• 1D: 0.78%
• 1M: -3.06%
• YTD: 11.52%
• 6M: 9.83%
• 1Y: 31.77%
• 3Y*: 13.51%
• 5Y*: 7.95%
• 10Y*: 11.68%

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

PRLAX vs. SLANX - 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%
SLANX DWS Latin America Equity Fund Class A	11.52%	54.13%	-28.52%	33.24%	8.08%	-9.06%	0.70%	35.56%	-2.82%	32.20%

Correlation

The correlation between PRLAX and SLANX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 3, 2002	0.96

The correlation between PRLAX and SLANX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

PRLAX vs. SLANX — Risk / Return Rank

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

PRLAX

PRLAX Risk / Return Rank: 26
PRLAX Sharpe Ratio Rank: 24
PRLAX Sortino Ratio Rank: 21
PRLAX Omega Ratio Rank: 22
PRLAX Calmar Ratio Rank: 33
PRLAX Martin Ratio Rank: 28

SLANX

SLANX Risk / Return Rank: 34
SLANX Sharpe Ratio Rank: 30
SLANX Sortino Ratio Rank: 27
SLANX Omega Ratio Rank: 31
SLANX Calmar Ratio Rank: 46
SLANX Martin Ratio Rank: 36

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. SLANX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Latin America Fund (PRLAX) and DWS Latin America Equity Fund Class A (SLANX). 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	SLANX	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.58	-0.19
Sortino ratio: Return per unit of downside risk	1.90	2.16	-0.26
Omega ratio: Gain probability vs. loss probability	1.25	1.29	-0.04
Calmar ratio: Return relative to maximum drawdown	2.17	2.59	-0.42
Martin ratio: Return relative to average drawdown	6.63	7.94	-1.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRLAX vs. SLANX - Sharpe Ratio Comparison

The current PRLAX Sharpe Ratio is 1.38, which is comparable to the SLANX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of PRLAX and SLANX, 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

	PRLAX	SLANX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.58	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.35	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.43	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.32	-0.09

Drawdowns

PRLAX vs. SLANX - Drawdown Comparison

The maximum PRLAX drawdown since its inception was -70.03%, roughly equal to the maximum SLANX drawdown of -70.73%. Use the drawdown chart below to compare losses from any high point for PRLAX and SLANX.

Drawdown Indicators

	PRLAX	SLANX	Difference
Max Drawdown Largest peak-to-trough decline	-70.03%	-70.73%	+0.70%
Max Drawdown (1Y) Largest decline over 1 year	-13.65%	-12.85%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-23.60%	-29.63%	+6.03%
Max Drawdown (5Y) Largest decline over 5 years	-30.74%	-29.92%	-0.82%
Max Drawdown (10Y) Largest decline over 10 years	-49.80%	-50.91%	+1.11%
Current Drawdown Current decline from peak	-8.99%	-8.49%	-0.50%
Average Drawdown Average peak-to-trough decline	-23.82%	-23.30%	-0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	4.18%	+0.28%

Volatility

PRLAX vs. SLANX - Volatility Comparison

T. Rowe Price Latin America Fund (PRLAX) has a higher volatility of 6.32% compared to DWS Latin America Equity Fund Class A (SLANX) at 5.91%. This indicates that PRLAX's price experiences larger fluctuations and is considered to be riskier than SLANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRLAX	SLANX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	5.91%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	18.26%	17.91%	+0.35%
Volatility (1Y) Calculated over the trailing 1-year period	21.39%	21.12%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	23.17%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.69%	26.97%	-1.28%

PRLAX vs. SLANX - Expense Ratio Comparison

PRLAX has a 1.46% expense ratio, which is lower than SLANX's 1.51% expense ratio.

Dividends

PRLAX vs. SLANX - Dividend Comparison

PRLAX's dividend yield for the trailing twelve months is around 6.51%, more than SLANX's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SLANX DWS Latin America Equity Fund Class A	3.72%	4.15%	5.13%	3.14%	7.15%	14.19%	0.00%	0.00%	0.00%	4.21%	1.57%	0.00%

Frequently Asked Questions

Can I hold both PRLAX and SLANX in my portfolio?

With a correlation of 0.94, PRLAX and SLANX 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, PRLAX or SLANX?

PRLAX has higher volatility (6.32%) compared to SLANX (5.91%). In terms of maximum drawdown, PRLAX dropped -70.03% vs SLANX's -70.73%.

Which has better risk-adjusted returns?

SLANX currently has the higher Sharpe Ratio (1.58 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.