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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$4.85

$338 M

5.36%

$0.26

3.83%

Vitals

YTD Return

-2.7%

1 yr return

8.2%

3 Yr Avg Return

-1.2%

5 Yr Avg Return

0.0%

Net Assets

$338 M

Holdings in Top 10

28.6%

52 WEEK LOW AND HIGH

$4.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.83%

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 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$4.85

$338 M

5.36%

$0.26

3.83%

PAELX - Profile

Distributions

  • YTD Total Return -2.7%
  • 3 Yr Annualized Total Return -1.2%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.35%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    T. Rowe Price Emerging Markets Local Currency Bond Fund
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    May 26, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andrew 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.

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PAELX - Performance

Return Ranking - Trailing

Period PAELX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.7% -2.8% 93.3% 99.67%
1 Yr 8.2% -3.8% 112.3% 71.71%
3 Yr -1.2%* -13.6% 21.2% 61.09%
5 Yr 0.0%* -8.7% 12.8% 82.85%
10 Yr -0.5%* -5.2% 6.6% 83.82%

* Annualized

Return Ranking - Calendar

Period PAELX Return Category Return Low Category Return High Rank in Category (%)
2023 8.2% -10.6% 17.8% 11.51%
2022 -16.0% -29.1% -2.4% 33.67%
2021 -13.7% -24.0% 2.7% 93.38%
2020 -0.6% -14.0% 9.7% 74.10%
2019 7.1% -6.4% 13.0% 67.52%

Total Return Ranking - Trailing

Period PAELX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.7% -2.8% 93.3% 99.67%
1 Yr 8.2% -3.8% 112.3% 71.71%
3 Yr -1.2%* -13.6% 21.2% 61.09%
5 Yr 0.0%* -8.7% 12.8% 82.85%
10 Yr -0.5%* -5.2% 6.6% 83.82%

* Annualized

Total Return Ranking - Calendar

Period PAELX Return Category Return Low Category Return High Rank in Category (%)
2023 15.0% -0.6% 20.0% 5.59%
2022 -11.3% -27.6% -1.7% 31.63%
2021 -9.8% -18.5% 7.4% 93.03%
2020 3.8% -7.8% 18.0% 70.14%
2019 11.3% -3.0% 23.0% 80.29%

NAV & Total Return History


PAELX - Holdings

Concentration Analysis

PAELX Category Low Category High PAELX % Rank
Net Assets 338 M 331 K 14.4 B 47.87%
Number of Holdings 286 4 1833 44.59%
Net Assets in Top 10 92.8 M -134 M 1.25 B 36.07%
Weighting of Top 10 28.62% 5.1% 101.4% 24.50%

Top 10 Holdings

  1. T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND 4.16%
  2. BRAZIL NOTAS DO TESOURO NACIONAL SERIE F 3.74%
  3. REPUBLIC OF SOUTH AFRICA GOVERNMENT BOND 3.06%
  4. MEXICAN BONOS 2.96%
  5. INDONESIA TREASURY BOND 2.60%
  6. CHINA GOVERNMENT BOND 2.57%
  7. REPUBLIC OF POLAND GOVERNMENT BOND 2.48%
  8. CZECH REPUBLIC GOVERNMENT BOND 2.46%
  9. MALAYSIA GOVERNMENT BOND 2.38%
  10. REPUBLIC OF SOUTH AFRICA GOVERNMENT BOND 2.21%

Asset Allocation

Weighting Return Low Return High PAELX % Rank
Bonds
90.23% 0.91% 99.54% 80.00%
Cash
9.06% 0.00% 21.93% 23.28%
Convertible Bonds
1.22% 0.00% 8.47% 16.56%
Other
0.58% -9.56% 88.17% 21.97%
Stocks
0.13% -0.01% 93.55% 25.25%
Preferred Stocks
0.00% 0.00% 1.28% 65.25%

Stock Sector Breakdown

Weighting Return Low Return High PAELX % 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 PAELX % Rank
US
0.13% 0.00% 93.50% 20.98%
Non US
0.00% -0.01% 1.26% 67.21%

Bond Sector Breakdown

Weighting Return Low Return High PAELX % Rank
Government
83.95% 0.00% 99.79% 6.62%
Cash & Equivalents
4.16% 0.00% 23.23% 35.08%
Corporate
2.37% 0.00% 93.26% 87.42%
Derivative
0.58% -2.00% 7.35% 9.84%
Securitized
0.00% 0.00% 2.41% 69.54%
Municipal
0.00% 0.00% 0.00% 63.91%

Bond Geographic Breakdown

Weighting Return Low Return High PAELX % Rank
Non US
87.17% 0.00% 132.49% 13.77%
US
3.06% -42.31% 99.01% 84.92%

PAELX - Expenses

Operational Fees

PAELX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.83% 0.02% 35.56% 2.63%
Management Fee 0.65% 0.00% 1.10% 37.38%
12b-1 Fee 0.25% 0.00% 1.00% 44.29%
Administrative Fee 0.15% 0.02% 0.65% 66.67%

Sales Fees

PAELX 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

PAELX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% 100.00%

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.

PAELX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 83.10% 0.00% 218.00% 76.60%

PAELX - Distributions

Dividend Yield Analysis

PAELX Category Low Category High PAELX % Rank
Dividend Yield 5.36% 0.00% 22.11% 85.25%

Dividend Distribution Analysis

PAELX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Monthly

Net Income Ratio Analysis

PAELX Category Low Category High PAELX % Rank
Net Income Ratio 4.35% -2.28% 8.00% 37.92%

Capital Gain Distribution Analysis

PAELX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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PAELX - 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