PSILX vs. PRWCX

Last updated Jun 24, 2026

PSILX (T. Rowe Price Spectrum International Equity Fund) and PRWCX (T. Rowe Price Capital Appreciation Fund) are both mutual funds - PSILX is a Foreign Large Cap Equities fund managed by T. Rowe Price, while PRWCX is a Diversified Portfolio fund actively managed by T. Rowe Price. Over the past 10 years, PSILX returned 9.22%/yr vs 11.36%/yr for PRWCX. A 0.69 correlation means they provide meaningful diversification when combined. PSILX charges 0.89%/yr vs 0.68%/yr for PRWCX.

Performance

PSILX vs. PRWCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Spectrum International Equity Fund (PSILX) and T. Rowe Price Capital Appreciation Fund (PRWCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSILX achieves a 14.49% return, which is significantly higher than PRWCX's 4.53% return. Over the past 10 years, PSILX has underperformed PRWCX with an annualized return of 9.22%, while PRWCX has yielded a comparatively higher 11.36% annualized return.

PSILX

• 1D: 0.05%
• 1M: 3.63%
• YTD: 14.49%
• 6M: 14.82%
• 1Y: 30.46%
• 3Y*: 17.92%
• 5Y*: 7.09%
• 10Y*: 9.22%

PRWCX

• 1D: -0.08%
• 1M: -0.53%
• YTD: 4.53%
• 6M: 4.44%
• 1Y: 12.48%
• 3Y*: 12.75%
• 5Y*: 8.42%
• 10Y*: 11.36%

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

PSILX vs. PRWCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSILX T. Rowe Price Spectrum International Equity Fund	14.49%	30.30%	4.28%	13.83%	-18.04%	5.00%	13.94%	25.00%	-14.83%	26.79%
PRWCX T. Rowe Price Capital Appreciation Fund	4.53%	12.45%	12.50%	18.85%	-12.00%	18.45%	18.13%	24.62%	0.63%	15.34%

Correlation

The correlation between PSILX and PRWCX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997	0.69

The correlation between PSILX and PRWCX has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.

Return for Risk

PSILX vs. PRWCX — Risk / Return Rank

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

PSILX

PSILX Risk / Return Rank: 50
PSILX Sharpe Ratio Rank: 52
PSILX Sortino Ratio Rank: 49
PSILX Omega Ratio Rank: 54
PSILX Calmar Ratio Rank: 48
PSILX Martin Ratio Rank: 49

PRWCX

PRWCX Risk / Return Rank: 39
PRWCX Sharpe Ratio Rank: 39
PRWCX Sortino Ratio Rank: 37
PRWCX Omega Ratio Rank: 40
PRWCX Calmar Ratio Rank: 34
PRWCX Martin Ratio Rank: 43

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.

PSILX vs. PRWCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Spectrum International Equity Fund (PSILX) and T. Rowe Price Capital Appreciation Fund (PRWCX). 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.

	PSILX	PRWCX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.68	+0.29
Sortino ratio: Return per unit of downside risk	2.73	2.37	+0.35
Omega ratio: Gain probability vs. loss probability	1.37	1.31	+0.06
Calmar ratio: Return relative to maximum drawdown	2.53	2.07	+0.46
Martin ratio: Return relative to average drawdown	9.57	8.70	+0.87

PSILX vs. PRWCX - Sharpe Ratio Comparison

The current PSILX Sharpe Ratio is 1.97, which is comparable to the PRWCX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of PSILX and PRWCX, 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

PSILX vs. PRWCX - Drawdown Comparison

The maximum PSILX drawdown since its inception was -61.38%, which is greater than PRWCX's maximum drawdown of -41.77%. Use the drawdown chart below to compare losses from any high point for PSILX and PRWCX.

Drawdown Indicators

	PSILX	PRWCX	Difference
Max Drawdown Largest peak-to-trough decline	-61.38%	-41.77%	-19.61%
Max Drawdown (1Y) Largest decline over 1 year	-12.72%	-6.32%	-6.40%
Max Drawdown (3Y) Largest decline over 3 years	-13.70%	-15.96%	+2.26%
Max Drawdown (5Y) Largest decline over 5 years	-33.13%	-17.07%	-16.06%
Max Drawdown (10Y) Largest decline over 10 years	-33.33%	-26.86%	-6.47%
Current Drawdown Current decline from peak	0.00%	-1.58%	+1.58%
Average Drawdown Average peak-to-trough decline	-14.05%	-3.33%	-10.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	1.50%	+1.83%

Volatility

PSILX vs. PRWCX - Volatility Comparison

T. Rowe Price Spectrum International Equity Fund (PSILX) has a higher volatility of 6.36% compared to T. Rowe Price Capital Appreciation Fund (PRWCX) at 2.80%. This indicates that PSILX's price experiences larger fluctuations and is considered to be riskier than PRWCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSILX	PRWCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.36%	2.80%	+3.56%
Volatility (6M) Calculated over the trailing 6-month period	14.19%	6.47%	+7.72%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	7.81%	+8.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.96%	12.79%	+3.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.27%	12.76%	+3.51%

PSILX vs. PRWCX - Expense Ratio Comparison

PSILX has a 0.89% expense ratio, which is higher than PRWCX's 0.68% expense ratio.

Dividends

PSILX vs. PRWCX - Dividend Comparison

PSILX's dividend yield for the trailing twelve months is around 4.73%, less than PRWCX's 8.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRWCX T. Rowe Price Capital Appreciation Fund	8.43%	8.81%	10.38%	4.15%	9.44%	9.23%	7.97%	5.83%	7.46%	6.82%	3.51%	9.86%
PSILX T. Rowe Price Spectrum International Equity Fund	4.73%	5.42%	2.04%	1.88%	6.67%	3.49%	0.88%	3.49%	6.69%	0.58%	0.17%	0.08%

Frequently Asked Questions

Can I hold both PSILX and PRWCX in my portfolio?

PSILX and PRWCX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSILX or PRWCX?

PSILX has higher volatility (6.36%) compared to PRWCX (2.80%). In terms of maximum drawdown, PSILX dropped -61.38% vs PRWCX's -41.77%.

Which has better risk-adjusted returns?

PSILX currently has the higher Sharpe Ratio (1.97 vs 1.68), 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.