TROIX vs. PRWAX

Last updated Aug 1, 2026

TROIX (T. Rowe Price Overseas Stock Fund Class I) and PRWAX (T. Rowe Price All-Cap Opportunities Fund) are both mutual funds - TROIX is a Foreign Large Cap Equities fund actively managed by T. Rowe Price, while PRWAX is a Large Cap Growth Equities fund actively managed by T. Rowe Price. Both are actively managed. Over the past 10 years, TROIX returned 9.70%/yr vs 16.77%/yr for PRWAX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. TROIX charges 0.67%/yr vs 0.76%/yr for PRWAX.

Performance

TROIX vs. PRWAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Overseas Stock Fund Class I (TROIX) and T. Rowe Price All-Cap Opportunities Fund (PRWAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TROIX achieves a 12.05% return, which is significantly higher than PRWAX's -1.10% return. Over the past 10 years, TROIX has underperformed PRWAX with an annualized return of 9.70%, while PRWAX has yielded a comparatively higher 16.77% annualized return.

TROIX

• 1D: 2.66%
• 1M: 1.40%
• 6M: 6.52%
• YTD: 12.05%
• 1Y: 27.22%
• 3Y*: 15.82%
• 5Y*: 9.08%
• 10Y*: 9.70%
• ALL TIME*: 8.76%

PRWAX

• 1D: 1.76%
• 1M: -1.38%
• 6M: -0.18%
• YTD: -1.10%
• 1Y: 7.57%
• 3Y*: 14.80%
• 5Y*: 8.53%
• 10Y*: 16.77%
• ALL TIME*: 11.61%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PRWAX T. Rowe Price All-Cap Opportunities Fund	$0.00	$0.00	$0.00
TROIX T. Rowe Price Overseas Stock Fund Class I	$0.00	$0.00	$0.00

TROIX vs. PRWAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TROIX T. Rowe Price Overseas Stock Fund Class I	12.05%	31.93%	2.96%	16.60%	-15.38%	12.43%	9.33%	23.04%	-14.85%	27.25%
PRWAX T. Rowe Price All-Cap Opportunities Fund	-1.10%	16.37%	25.24%	29.02%	-21.37%	20.63%	44.73%	35.08%	1.26%	34.51%

Correlation

The correlation between TROIX and PRWAX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (10Y) Provides a long-term view across more market conditions.	0.75
Correlation (All Time) Calculated using the full available price history since Sep 8, 2015	0.75

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

Return for Risk

TROIX vs. PRWAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TROIX

TROIX Risk / Return Rank: 64
TROIX Sharpe Ratio Rank: 67
TROIX Sortino Ratio Rank: 67
TROIX Omega Ratio Rank: 65
TROIX Calmar Ratio Rank: 60
TROIX Martin Ratio Rank: 59

PRWAX

PRWAX Risk / Return Rank: 11
PRWAX Sharpe Ratio Rank: 11
PRWAX Sortino Ratio Rank: 11
PRWAX Omega Ratio Rank: 11
PRWAX Calmar Ratio Rank: 10
PRWAX Martin Ratio Rank: 12

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TROIX vs. PRWAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Overseas Stock Fund Class I (TROIX) and T. Rowe Price All-Cap Opportunities Fund (PRWAX). 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.

	TROIX	PRWAX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	0.39	+1.23
Sortino ratio: Return per unit of downside risk	2.33	0.64	+1.69
Omega ratio: Gain probability vs. loss probability	1.29	1.08	+0.22
Calmar ratio: Return relative to maximum drawdown	2.10	0.40	+1.70
Martin ratio: Return relative to average drawdown	7.80	1.36	+6.44

TROIX vs. PRWAX - Sharpe Ratio Comparison

The current TROIX Sharpe Ratio is 1.62, which is higher than the PRWAX Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of TROIX and PRWAX, 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

TROIX vs. PRWAX - Drawdown Comparison

The maximum TROIX drawdown since its inception was -36.11%, smaller than the maximum PRWAX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for TROIX and PRWAX.

Drawdown Indicators

	TROIX	PRWAX	Difference
Max Drawdown Largest peak-to-trough decline	-36.11%	-55.06%	+18.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.42%	-14.09%	+1.67%
Max Drawdown (3Y) Largest decline over 3 years	-14.09%	-19.06%	+4.97%
Max Drawdown (5Y) Largest decline over 5 years	-29.37%	-29.38%	+0.01%
Max Drawdown (10Y) Largest decline over 10 years	-36.11%	-30.50%	-5.61%
Current Drawdown Current decline from peak	0.00%	-3.04%	+3.04%
Average Drawdown Average peak-to-trough decline	-6.63%	-9.87%	+3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	4.13%	-0.80%

Volatility

TROIX vs. PRWAX - Volatility Comparison

T. Rowe Price Overseas Stock Fund Class I (TROIX) has a higher volatility of 4.62% compared to T. Rowe Price All-Cap Opportunities Fund (PRWAX) at 4.17%. This indicates that TROIX's price experiences larger fluctuations and is considered to be riskier than PRWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TROIX	PRWAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	4.17%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	13.88%	11.97%	+1.91%
Volatility (1Y) Calculated over the trailing 1-year period	16.11%	14.62%	+1.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	17.78%	-1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	18.74%	-2.06%

TROIX vs. PRWAX - Expense Ratio Comparison

TROIX has a 0.67% expense ratio, which is lower than PRWAX's 0.76% expense ratio.

Dividends

TROIX vs. PRWAX - Dividend Comparison

TROIX's dividend yield for the trailing twelve months is around 1.92%, less than PRWAX's 8.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRWAX T. Rowe Price All-Cap Opportunities Fund	8.44%	8.35%	9.22%	5.10%	3.11%	20.51%	15.44%	7.01%	12.58%	12.30%	6.19%	8.84%
TROIX T. Rowe Price Overseas Stock Fund Class I	1.92%	2.15%	2.60%	2.32%	2.54%	1.88%	1.66%	2.14%	3.44%	1.95%	2.54%	2.11%

Frequently Asked Questions

Can I hold both TROIX and PRWAX in my portfolio?

TROIX and PRWAX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TROIX or PRWAX?

TROIX has higher volatility (4.62%) compared to PRWAX (4.17%). In terms of maximum drawdown, TROIX dropped -36.11% vs PRWAX's -55.06%.

Which has better risk-adjusted returns?

TROIX currently has the higher Sharpe Ratio (1.62 vs 0.39), 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.