PRMSX vs. TRRJX

Last updated Jun 5, 2026

PRMSX (T. Rowe Price Emerging Markets Stock Fund) and TRRJX (T. Rowe Price Retirement 2035 Fund) are both mutual funds - PRMSX is a Emerging Markets Diversified fund managed by T. Rowe Price, while TRRJX is a Target Retirement Date fund managed by T. Rowe Price. Over the past 10 years, PRMSX returned 8.35%/yr vs 9.76%/yr for TRRJX. A 0.76 correlation means they provide meaningful diversification when combined. PRMSX charges 1.20%/yr vs 0.59%/yr for TRRJX.

Performance

PRMSX vs. TRRJX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Emerging Markets Stock Fund (PRMSX) and T. Rowe Price Retirement 2035 Fund (TRRJX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRMSX achieves a 31.72% return, which is significantly higher than TRRJX's 8.73% return. Over the past 10 years, PRMSX has underperformed TRRJX with an annualized return of 8.35%, while TRRJX has yielded a comparatively higher 9.76% annualized return.

PRMSX

• 1D: -0.47%
• 1M: 10.31%
• YTD: 31.72%
• 6M: 35.77%
• 1Y: 62.90%
• 3Y*: 19.37%
• 5Y*: 2.84%
• 10Y*: 8.35%

TRRJX

• 1D: -0.55%
• 1M: 2.46%
• YTD: 8.73%
• 6M: 4.27%
• 1Y: 15.02%
• 3Y*: 13.86%
• 5Y*: 6.42%
• 10Y*: 9.76%

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

PRMSX vs. TRRJX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRMSX T. Rowe Price Emerging Markets Stock Fund	31.72%	32.46%	-1.72%	2.08%	-23.35%	-10.47%	17.63%	26.51%	-16.20%	42.27%
TRRJX T. Rowe Price Retirement 2035 Fund	8.73%	10.96%	11.99%	18.14%	-17.96%	15.21%	17.04%	23.72%	-6.95%	20.89%

Correlation

The correlation between PRMSX and TRRJX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Mar 2, 2004	0.76

The correlation between PRMSX and TRRJX has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.

Return for Risk

PRMSX vs. TRRJX — Risk / Return Rank

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

PRMSX

PRMSX Risk / Return Rank: 91
PRMSX Sharpe Ratio Rank: 95
PRMSX Sortino Ratio Rank: 87
PRMSX Omega Ratio Rank: 88
PRMSX Calmar Ratio Rank: 91
PRMSX Martin Ratio Rank: 92

TRRJX

TRRJX Risk / Return Rank: 29
TRRJX Sharpe Ratio Rank: 27
TRRJX Sortino Ratio Rank: 24
TRRJX Omega Ratio Rank: 31
TRRJX Calmar Ratio Rank: 28
TRRJX Martin Ratio Rank: 34

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.

PRMSX vs. TRRJX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Emerging Markets Stock Fund (PRMSX) and T. Rowe Price Retirement 2035 Fund (TRRJX). 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.

	PRMSX	TRRJX	Difference
Sharpe ratio: Return per unit of total volatility	3.42	1.51	+1.91
Sortino ratio: Return per unit of downside risk	4.20	2.08	+2.12
Omega ratio: Gain probability vs. loss probability	1.63	1.29	+0.34
Calmar ratio: Return relative to maximum drawdown	4.79	1.95	+2.83
Martin ratio: Return relative to average drawdown	19.45	7.54	+11.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRMSX vs. TRRJX - Sharpe Ratio Comparison

The current PRMSX Sharpe Ratio is 3.42, which is higher than the TRRJX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of PRMSX and TRRJX, 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

	PRMSX	TRRJX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.42	1.51	+1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.50	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.72	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.50	-0.13

Drawdowns

PRMSX vs. TRRJX - Drawdown Comparison

The maximum PRMSX drawdown since its inception was -71.13%, which is greater than TRRJX's maximum drawdown of -53.57%. Use the drawdown chart below to compare losses from any high point for PRMSX and TRRJX.

Drawdown Indicators

	PRMSX	TRRJX	Difference
Max Drawdown Largest peak-to-trough decline	-71.13%	-53.57%	-17.56%
Max Drawdown (1Y) Largest decline over 1 year	-13.56%	-8.06%	-5.50%
Max Drawdown (3Y) Largest decline over 3 years	-16.47%	-12.52%	-3.95%
Max Drawdown (5Y) Largest decline over 5 years	-43.13%	-25.85%	-17.28%
Max Drawdown (10Y) Largest decline over 10 years	-46.28%	-30.14%	-16.14%
Current Drawdown Current decline from peak	-0.47%	-0.55%	+0.08%
Average Drawdown Average peak-to-trough decline	-21.11%	-6.65%	-14.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	2.06%	+1.27%

Volatility

PRMSX vs. TRRJX - Volatility Comparison

T. Rowe Price Emerging Markets Stock Fund (PRMSX) has a higher volatility of 8.24% compared to T. Rowe Price Retirement 2035 Fund (TRRJX) at 2.98%. This indicates that PRMSX's price experiences larger fluctuations and is considered to be riskier than TRRJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRMSX	TRRJX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.24%	2.98%	+5.26%
Volatility (6M) Calculated over the trailing 6-month period	16.35%	8.83%	+7.52%
Volatility (1Y) Calculated over the trailing 1-year period	18.98%	10.46%	+8.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.89%	12.84%	+5.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.57%	13.54%	+5.03%

PRMSX vs. TRRJX - Expense Ratio Comparison

PRMSX has a 1.20% expense ratio, which is higher than TRRJX's 0.59% expense ratio.

Dividends

PRMSX vs. TRRJX - Dividend Comparison

PRMSX's dividend yield for the trailing twelve months is around 0.43%, while TRRJX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRMSX T. Rowe Price Emerging Markets Stock Fund	0.43%	0.57%	0.35%	1.09%	1.17%	8.26%	0.49%	1.24%	0.61%	0.18%	0.69%	0.56%
TRRJX T. Rowe Price Retirement 2035 Fund	0.00%	0.00%	2.36%	4.68%	9.67%	6.89%	4.80%	5.68%	8.55%	3.80%	2.89%	4.05%

Frequently Asked Questions

Can I hold both PRMSX and TRRJX in my portfolio?

PRMSX and TRRJX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRMSX or TRRJX?

PRMSX has higher volatility (8.24%) compared to TRRJX (2.98%). In terms of maximum drawdown, PRMSX dropped -71.13% vs TRRJX's -53.57%.

Which has better risk-adjusted returns?

PRMSX currently has the higher Sharpe Ratio (3.42 vs 1.51), 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.