PRNEX vs. PRIDX
PRNEX (T. Rowe Price New Era Fund) and PRIDX (T. Rowe Price International Discovery Fund) are both mutual funds - PRNEX is a Energy Equities fund managed by T. Rowe Price, while PRIDX is a Foreign Small & Mid Cap Equities fund managed by T. Rowe Price. Over the past 10 years, PRNEX returned 8.67%/yr vs 9.52%/yr for PRIDX. At a 0.50 correlation, their price movements are largely independent. PRNEX charges 0.56%/yr vs 1.23%/yr for PRIDX.
Performance
PRNEX vs. PRIDX - Performance Comparison
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Returns By Period
In the year-to-date period, PRNEX achieves a 17.67% return, which is significantly higher than PRIDX's 8.65% return. Over the past 10 years, PRNEX has underperformed PRIDX with an annualized return of 8.67%, while PRIDX has yielded a comparatively higher 9.52% annualized return.
PRNEX
- 1D
- 1.27%
- 1M
- -3.97%
- YTD
- 17.67%
- 6M
- 16.89%
- 1Y
- 32.70%
- 3Y*
- 15.40%
- 5Y*
- 11.29%
- 10Y*
- 8.67%
PRIDX
- 1D
- -0.28%
- 1M
- 0.54%
- YTD
- 8.65%
- 6M
- 8.62%
- 1Y
- 21.77%
- 3Y*
- 15.06%
- 5Y*
- 1.77%
- 10Y*
- 9.52%
PRNEX vs. PRIDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRNEX T. Rowe Price New Era Fund | 17.67% | 18.85% | 4.41% | 1.02% | 7.14% | 25.35% | -2.63% | 16.91% | -16.23% | 10.57% |
PRIDX T. Rowe Price International Discovery Fund | 8.65% | 25.53% | 3.65% | 13.19% | -30.34% | 7.31% | 38.78% | 25.01% | -17.54% | 38.56% |
Correlation
The correlation between PRNEX and PRIDX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1989 | 0.50 |
The correlation between PRNEX and PRIDX shifts across timeframes, from 0.43 (1 year) to 0.63 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRNEX vs. PRIDX — Risk / Return Rank
PRNEX
PRIDX
PRNEX vs. PRIDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Era Fund (PRNEX) and T. Rowe Price International Discovery Fund (PRIDX). 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.
| PRNEX | PRIDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.29 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.77 | 1.69 | +3.08 |
| Martin ratioReturn relative to average drawdown | 16.60 | 6.18 | +10.42 |
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Drawdowns
PRNEX vs. PRIDX - Drawdown Comparison
The maximum PRNEX drawdown since its inception was -66.56%, roughly equal to the maximum PRIDX drawdown of -65.01%. Use the drawdown chart below to compare losses from any high point for PRNEX and PRIDX.
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Drawdown Indicators
| PRNEX | PRIDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.56% | -65.01% | -1.55% |
Max Drawdown (1Y)Largest decline over 1 year | -6.59% | -13.50% | +6.91% |
Max Drawdown (3Y)Largest decline over 3 years | -20.19% | -15.86% | -4.33% |
Max Drawdown (5Y)Largest decline over 5 years | -21.50% | -43.86% | +22.36% |
Max Drawdown (10Y)Largest decline over 10 years | -49.64% | -43.86% | -5.78% |
Current DrawdownCurrent decline from peak | -5.40% | -1.52% | -3.88% |
Average DrawdownAverage peak-to-trough decline | -16.28% | -16.34% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 3.69% | -1.80% |
Volatility
PRNEX vs. PRIDX - Volatility Comparison
T. Rowe Price New Era Fund (PRNEX) has a higher volatility of 5.63% compared to T. Rowe Price International Discovery Fund (PRIDX) at 5.20%. This indicates that PRNEX's price experiences larger fluctuations and is considered to be riskier than PRIDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRNEX | PRIDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.63% | 5.20% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 12.03% | 12.52% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.16% | 14.78% | +0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.70% | 16.82% | +1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.63% | 16.65% | +3.98% |
PRNEX vs. PRIDX - Expense Ratio Comparison
PRNEX has a 0.56% expense ratio, which is lower than PRIDX's 1.23% expense ratio.
Dividends
PRNEX vs. PRIDX - Dividend Comparison
PRNEX's dividend yield for the trailing twelve months is around 7.68%, more than PRIDX's 4.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRIDX T. Rowe Price International Discovery Fund | 4.50% | 4.88% | 4.03% | 2.05% | 3.18% | 15.35% | 4.30% | 1.48% | 6.20% | 3.11% | 1.81% | 5.00% |
PRNEX T. Rowe Price New Era Fund | 7.68% | 9.04% | 4.81% | 11.46% | 4.47% | 2.07% | 2.54% | 2.18% | 1.69% | 1.89% | 1.28% | 2.68% |
Frequently Asked Questions
PRNEX and PRIDX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRNEX has higher volatility (5.63%) compared to PRIDX (5.20%). In terms of maximum drawdown, PRNEX dropped -66.56% vs PRIDX's -65.01%.
PRNEX currently has the higher Sharpe Ratio (2.08 vs 1.55), 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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