T. Rowe Price Emerging Markets Local Currency Bond Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-2.7%
1 yr return
8.0%
3 Yr Avg Return
-1.0%
5 Yr Avg Return
0.2%
Net Assets
$338 M
Holdings in Top 10
28.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.01%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 83.10%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PRELX - Profile
Distributions
- YTD Total Return -2.7%
- 3 Yr Annualized Total Return -1.0%
- 5 Yr Annualized Total Return 0.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 4.41%
- Dividend Yield 5.4%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameT. Rowe Price Emerging Markets Local Currency Bond Fund
-
Fund Family NameTROWEPRICE
-
Inception DateMay 26, 2011
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAndrew Keirle
Fund Description
Under normal conditions, at least 80% of the fund’s net assets (including any borrowings for investment purposes) will be invested in bonds that are denominated in emerging markets currencies, and in derivative instruments that provide investment exposure to such securities. Emerging market bonds include fixed rate and floating rate bonds that are issued by governments, government agencies, and supranational organizations of, and corporate issuers located in or conducting the predominant part of their business activities in, the emerging market countries of Latin America, Asia, Europe, Africa, and the Middle East. The fund considers frontier markets to be a subset of emerging markets and any investments in frontier markets will be counted toward the fund’s 80% investment policy. The fund relies on a classification by either JP Morgan or the International Monetary Fund to determine which countries are emerging markets.
Investment decisions are based on fundamental research as well as market factors, such as yield and credit quality differences among bonds as well as supply and demand trends and currency values. The fund generally invests in securities where the combination of fixed-income returns and currency exchange rates appears attractive or, if the currency trend is unfavorable, where the adviser believes the currency risk can be minimized through hedging. The fund may purchase bonds of any credit quality and there are no overall limits on the fund’s investments in bonds that are unrated or rated below investment-grade (also known as “junk” bonds).
Through the use of currency derivative instruments such as forward currency exchange contracts, currency swaps, foreign currency options, and currency futures, the fund has wide flexibility to purchase and sell currencies independently of whether the fund owns bonds in those currencies and to engage in currency hedging transactions. The fund’s currency positions will vary with its outlook on the strength or weakness of one foreign currency compared to another foreign currency and the relative value of various foreign currencies to one another. Currency hedging is permitted, but not required, and the fund will normally be heavily exposed to foreign currencies. The fund may take a short position in a currency, which allows the fund to sell a currency in excess of the value of its holdings denominated in that currency or sell a currency even if it does not hold any assets denominated in the currency. In addition, the fund may use interest rate swaps and futures in order to take long or short positions with respect to its exposure to a particular country or bond market, subject to the investment restrictions applicable to futures and swaps.
The fund is “nondiversified,” meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a “diversified” fund.
PRELX - Performance
Return Ranking - Trailing
Period | PRELX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.7% | -2.8% | 93.3% | 99.34% |
1 Yr | 8.0% | -3.8% | 112.3% | 70.39% |
3 Yr | -1.0%* | -13.6% | 21.2% | 54.61% |
5 Yr | 0.2%* | -8.7% | 12.8% | 82.12% |
10 Yr | -0.3%* | -5.2% | 6.6% | 78.61% |
* Annualized
Return Ranking - Calendar
Period | PRELX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.3% | -10.6% | 17.8% | 9.54% |
2022 | -15.8% | -29.1% | -2.4% | 31.63% |
2021 | -13.7% | -24.0% | 2.7% | 93.03% |
2020 | -0.6% | -14.0% | 9.7% | 73.74% |
2019 | 7.3% | -6.4% | 13.0% | 66.79% |
Total Return Ranking - Trailing
Period | PRELX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.7% | -2.8% | 93.3% | 99.34% |
1 Yr | 8.0% | -3.8% | 112.3% | 70.39% |
3 Yr | -1.0%* | -13.6% | 21.2% | 54.61% |
5 Yr | 0.2%* | -8.7% | 12.8% | 82.12% |
10 Yr | -0.3%* | -5.2% | 6.6% | 78.61% |
* Annualized
Total Return Ranking - Calendar
Period | PRELX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.9% | -0.6% | 20.0% | 5.92% |
2022 | -11.0% | -27.6% | -1.7% | 27.55% |
2021 | -9.5% | -18.5% | 7.4% | 90.94% |
2020 | 4.1% | -7.8% | 18.0% | 66.55% |
2019 | 11.7% | -3.0% | 23.0% | 74.82% |
NAV & Total Return History
PRELX - Holdings
Concentration Analysis
PRELX | Category Low | Category High | PRELX % Rank | |
---|---|---|---|---|
Net Assets | 338 M | 331 K | 14.4 B | 47.54% |
Number of Holdings | 286 | 4 | 1833 | 44.26% |
Net Assets in Top 10 | 92.8 M | -134 M | 1.25 B | 35.74% |
Weighting of Top 10 | 28.62% | 5.1% | 101.4% | 24.17% |
Top 10 Holdings
- T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND 4.16%
- BRAZIL NOTAS DO TESOURO NACIONAL SERIE F 3.74%
- REPUBLIC OF SOUTH AFRICA GOVERNMENT BOND 3.06%
- MEXICAN BONOS 2.96%
- INDONESIA TREASURY BOND 2.60%
- CHINA GOVERNMENT BOND 2.57%
- REPUBLIC OF POLAND GOVERNMENT BOND 2.48%
- CZECH REPUBLIC GOVERNMENT BOND 2.46%
- MALAYSIA GOVERNMENT BOND 2.38%
- REPUBLIC OF SOUTH AFRICA GOVERNMENT BOND 2.21%
Asset Allocation
Weighting | Return Low | Return High | PRELX % Rank | |
---|---|---|---|---|
Bonds | 90.23% | 0.91% | 99.54% | 79.67% |
Cash | 9.06% | 0.00% | 21.93% | 22.95% |
Convertible Bonds | 1.22% | 0.00% | 8.47% | 16.23% |
Other | 0.58% | -9.56% | 88.17% | 21.64% |
Stocks | 0.13% | -0.01% | 93.55% | 24.92% |
Preferred Stocks | 0.00% | 0.00% | 1.28% | 50.82% |
Stock Sector Breakdown
Weighting | Return Low | Return High | PRELX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 11.41% | N/A |
Technology | 0.00% | 0.00% | 30.64% | N/A |
Real Estate | 0.00% | 0.00% | 2.39% | N/A |
Industrials | 0.00% | 0.00% | 100.00% | N/A |
Healthcare | 0.00% | 0.00% | 12.25% | N/A |
Financial Services | 0.00% | 0.00% | 100.00% | N/A |
Energy | 0.00% | 0.00% | 100.00% | N/A |
Communication Services | 0.00% | 0.00% | 8.92% | N/A |
Consumer Defense | 0.00% | 0.00% | 24.66% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
Basic Materials | 0.00% | 0.00% | 100.00% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | PRELX % Rank | |
---|---|---|---|---|
US | 0.13% | 0.00% | 93.50% | 20.66% |
Non US | 0.00% | -0.01% | 1.26% | 57.05% |
Bond Sector Breakdown
Weighting | Return Low | Return High | PRELX % Rank | |
---|---|---|---|---|
Government | 83.95% | 0.00% | 99.79% | 6.29% |
Cash & Equivalents | 4.16% | 0.00% | 23.23% | 34.75% |
Corporate | 2.37% | 0.00% | 93.26% | 87.09% |
Derivative | 0.58% | -2.00% | 7.35% | 9.51% |
Securitized | 0.00% | 0.00% | 2.41% | 55.96% |
Municipal | 0.00% | 0.00% | 0.00% | 49.34% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | PRELX % Rank | |
---|---|---|---|---|
Non US | 87.17% | 0.00% | 132.49% | 13.44% |
US | 3.06% | -42.31% | 99.01% | 84.59% |
PRELX - Expenses
Operational Fees
PRELX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.01% | 0.02% | 35.56% | 65.13% |
Management Fee | 0.65% | 0.00% | 1.10% | 33.44% |
12b-1 Fee | N/A | 0.00% | 1.00% | 16.00% |
Administrative Fee | 0.15% | 0.02% | 0.65% | 63.81% |
Sales Fees
PRELX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.75% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
PRELX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.75% | 2.00% | 66.67% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
PRELX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 83.10% | 0.00% | 218.00% | 76.23% |
PRELX - Distributions
Dividend Yield Analysis
PRELX | Category Low | Category High | PRELX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.41% | 0.00% | 22.11% | 86.89% |
Dividend Distribution Analysis
PRELX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
PRELX | Category Low | Category High | PRELX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.41% | -2.28% | 8.00% | 36.58% |
Capital Gain Distribution Analysis
PRELX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 29, 2024 | $0.022 | DailyAccrualFund |
Jan 31, 2024 | $0.022 | DailyAccrualFund |
Dec 29, 2023 | $0.025 | DailyAccrualFund |
Oct 31, 2023 | $0.018 | DailyAccrualFund |
May 31, 2023 | $0.020 | DailyAccrualFund |
Apr 28, 2023 | $0.018 | DailyAccrualFund |
Mar 31, 2023 | $0.023 | DailyAccrualFund |
Feb 28, 2023 | $0.018 | DailyAccrualFund |
Oct 31, 2022 | $0.021 | DailyAccrualFund |
Sep 30, 2022 | $0.022 | DailyAccrualFund |
Aug 31, 2022 | $0.023 | DailyAccrualFund |
Jul 29, 2022 | $0.022 | DailyAccrualFund |
Jun 30, 2022 | $0.022 | DailyAccrualFund |
May 31, 2022 | $0.021 | DailyAccrualFund |
Apr 29, 2022 | $0.023 | DailyAccrualFund |
Mar 31, 2022 | $0.022 | DailyAccrualFund |
Feb 28, 2022 | $0.021 | DailyAccrualFund |
Jan 31, 2022 | $0.021 | DailyAccrualFund |
Dec 31, 2021 | $0.024 | DailyAccrualFund |
Nov 30, 2021 | $0.014 | DailyAccrualFund |
Oct 29, 2021 | $0.015 | DailyAccrualFund |
Sep 30, 2021 | $0.014 | DailyAccrualFund |
Aug 31, 2021 | $0.014 | DailyAccrualFund |
Jul 30, 2021 | $0.015 | DailyAccrualFund |
Jun 30, 2021 | $0.014 | DailyAccrualFund |
May 28, 2021 | $0.014 | DailyAccrualFund |
Apr 30, 2021 | $0.014 | DailyAccrualFund |
Mar 31, 2021 | $0.015 | DailyAccrualFund |
Feb 26, 2021 | $0.012 | DailyAccrualFund |
Jan 29, 2021 | $0.013 | DailyAccrualFund |
Dec 31, 2020 | $0.025 | DailyAccrualFund |
Aug 31, 2020 | $0.022 | DailyAccrualFund |
Jul 31, 2020 | $0.025 | DailyAccrualFund |
Jun 30, 2020 | $0.021 | DailyAccrualFund |
May 29, 2020 | $0.021 | DailyAccrualFund |
Apr 30, 2020 | $0.021 | DailyAccrualFund |
Mar 31, 2020 | $0.022 | DailyAccrualFund |
Feb 28, 2020 | $0.024 | DailyAccrualFund |
Jan 31, 2020 | $0.029 | DailyAccrualFund |
Dec 31, 2019 | $0.028 | DailyAccrualFund |
Nov 29, 2019 | $0.007 | DailyAccrualFund |
Oct 31, 2019 | $0.008 | DailyAccrualFund |
Sep 30, 2019 | $0.007 | DailyAccrualFund |
Aug 30, 2019 | $0.008 | DailyAccrualFund |
Jul 31, 2019 | $0.008 | DailyAccrualFund |
Jun 28, 2019 | $0.028 | OrdinaryDividend |
May 31, 2019 | $0.032 | DailyAccrualFund |
Apr 30, 2019 | $0.031 | DailyAccrualFund |
Mar 29, 2019 | $0.032 | DailyAccrualFund |
Feb 28, 2019 | $0.028 | DailyAccrualFund |
Jan 31, 2019 | $0.031 | DailyAccrualFund |
Dec 31, 2018 | $0.032 | DailyAccrualFund |
Nov 30, 2018 | $0.033 | DailyAccrualFund |
Oct 31, 2018 | $0.029 | DailyAccrualFund |
Aug 31, 2018 | $0.032 | DailyAccrualFund |
Jul 31, 2018 | $0.030 | DailyAccrualFund |
Jun 29, 2018 | $0.030 | DailyAccrualFund |
May 31, 2018 | $0.032 | DailyAccrualFund |
Apr 30, 2018 | $0.032 | DailyAccrualFund |
Mar 29, 2018 | $0.035 | DailyAccrualFund |
Feb 28, 2018 | $0.032 | DailyAccrualFund |
Jan 31, 2018 | $0.034 | DailyAccrualFund |
Dec 29, 2017 | $0.035 | DailyAccrualFund |
Nov 30, 2017 | $0.031 | DailyAccrualFund |
Oct 31, 2017 | $0.031 | DailyAccrualFund |
Sep 29, 2017 | $0.033 | DailyAccrualFund |
Aug 31, 2017 | $0.033 | DailyAccrualFund |
Jul 31, 2017 | $0.032 | DailyAccrualFund |
Jun 30, 2017 | $0.035 | DailyAccrualFund |
May 31, 2017 | $0.032 | DailyAccrualFund |
Apr 28, 2017 | $0.031 | DailyAccrualFund |
Mar 31, 2017 | $0.037 | DailyAccrualFund |
Feb 28, 2017 | $0.031 | DailyAccrualFund |
Jan 31, 2017 | $0.030 | DailyAccrualFund |
Dec 30, 2016 | $0.033 | DailyAccrualFund |
Nov 30, 2016 | $0.029 | DailyAccrualFund |
Oct 31, 2016 | $0.030 | DailyAccrualFund |
Sep 30, 2016 | $0.033 | DailyAccrualFund |
Aug 31, 2016 | $0.031 | DailyAccrualFund |
Jul 29, 2016 | $0.031 | DailyAccrualFund |
Jun 30, 2016 | $0.029 | DailyAccrualFund |
May 31, 2016 | $0.027 | DailyAccrualFund |
Apr 29, 2016 | $0.029 | DailyAccrualFund |
Mar 31, 2016 | $0.029 | DailyAccrualFund |
Feb 29, 2016 | $0.027 | DailyAccrualFund |
Jan 29, 2016 | $0.025 | DailyAccrualFund |
Dec 31, 2015 | $0.030 | DailyAccrualFund |
Nov 30, 2015 | $0.027 | DailyAccrualFund |
Oct 30, 2015 | $0.031 | DailyAccrualFund |
Sep 30, 2015 | $0.027 | DailyAccrualFund |
Aug 31, 2015 | $0.028 | DailyAccrualFund |
Jul 31, 2015 | $0.033 | DailyAccrualFund |
Jun 30, 2015 | $0.030 | DailyAccrualFund |
May 29, 2015 | $0.031 | DailyAccrualFund |
Apr 30, 2015 | $0.032 | DailyAccrualFund |
Mar 31, 2015 | $0.030 | DailyAccrualFund |
Feb 27, 2015 | $0.030 | DailyAccrualFund |
Jan 30, 2015 | $0.034 | DailyAccrualFund |
Dec 31, 2014 | $0.037 | DailyAccrualFund |
Nov 28, 2014 | $0.032 | DailyAccrualFund |
Oct 31, 2014 | $0.039 | DailyAccrualFund |
Sep 30, 2014 | $0.036 | DailyAccrualFund |
Aug 29, 2014 | $0.043 | DailyAccrualFund |
Jul 31, 2014 | $0.042 | DailyAccrualFund |
Jun 30, 2014 | $0.040 | DailyAccrualFund |
May 30, 2014 | $0.044 | DailyAccrualFund |
Apr 30, 2014 | $0.040 | DailyAccrualFund |
Mar 31, 2014 | $0.039 | DailyAccrualFund |
Feb 28, 2014 | $0.038 | DailyAccrualFund |
Jan 31, 2014 | $0.042 | DailyAccrualFund |
Dec 31, 2013 | $0.041 | DailyAccrualFund |
Nov 29, 2013 | $0.040 | DailyAccrualFund |
Oct 31, 2013 | $0.040 | DailyAccrualFund |
Sep 30, 2013 | $0.033 | DailyAccrualFund |
Aug 30, 2013 | $0.040 | DailyAccrualFund |
Jul 31, 2013 | $0.037 | DailyAccrualFund |
Jun 28, 2013 | $0.033 | DailyAccrualFund |
May 31, 2013 | $0.043 | DailyAccrualFund |
Apr 30, 2013 | $0.042 | DailyAccrualFund |
Mar 28, 2013 | $0.044 | DailyAccrualFund |
Feb 28, 2013 | $0.039 | DailyAccrualFund |
Jan 31, 2013 | $0.039 | DailyAccrualFund |
Dec 31, 2012 | $0.044 | DailyAccrualFund |
Nov 30, 2012 | $0.044 | DailyAccrualFund |
Oct 31, 2012 | $0.042 | DailyAccrualFund |
Sep 28, 2012 | $0.035 | DailyAccrualFund |
Aug 31, 2012 | $0.043 | DailyAccrualFund |
Jul 31, 2012 | $0.039 | DailyAccrualFund |
Jun 29, 2012 | $0.041 | DailyAccrualFund |
May 31, 2012 | $0.041 | DailyAccrualFund |
Apr 30, 2012 | $0.039 | DailyAccrualFund |
Mar 30, 2012 | $0.044 | DailyAccrualFund |
Feb 29, 2012 | $0.040 | DailyAccrualFund |
Jan 31, 2012 | $0.039 | DailyAccrualFund |
Dec 31, 2011 | $0.044 | DailyAccrualFund |
Nov 30, 2011 | $0.041 | DailyAccrualFund |
Oct 31, 2011 | $0.040 | DailyAccrualFund |
Sep 30, 2011 | $0.042 | DailyAccrualFund |
Aug 31, 2011 | $0.044 | DailyAccrualFund |
Jul 29, 2011 | $0.043 | DailyAccrualFund |
PRELX - Fund Manager Analysis
Managers
Andrew Keirle
Start Date
Tenure
Tenure Rank
May 26, 2011
11.02
11.0%
Andrew Keirle is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd. He is a portfolio manager of the T. Rowe Price Emerging Markets Local Currency Bond Fund and chairman of the fund's Investment Advisory Committee. Before joining T. Rowe Price in 2005, he was a portfolio manager and analyst at Lazard Asset Management. Prior to joining Lazard, Andrew spent seven years as a global portfolio manager at Gulf International Bank in London. He is a qualified member of the Institute of Investment Management and Research, and he also holds a diploma from the Society of Technical Analysts. Andrew graduated from the University of Swansea at the University of Wales in 1996 with a B.Sc. in economics and politics.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 23.87 | 6.38 | 6.11 |