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Trending ETFs

Name

As of 03/26/2024

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

$10.71

$94 M

2.38%

$0.26

1.74%

Vitals

YTD Return

0.9%

1 yr return

14.6%

3 Yr Avg Return

8.2%

5 Yr Avg Return

6.5%

Net Assets

$94 M

Holdings in Top 10

42.2%

52 WEEK LOW AND HIGH

$10.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.74%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 51.30%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$10.71

$94 M

2.38%

$0.26

1.74%

TRAMX - Profile

Distributions

  • YTD Total Return 0.9%
  • 3 Yr Annualized Total Return 8.2%
  • 5 Yr Annualized Total Return 6.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.75%
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    T. Rowe Price Africa & Middle East Fund
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    Sep 04, 2007
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Oluwaseun Oyegunle

Fund Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in African and Middle Eastern companies. For purposes of determining whether the fund invests at least 80% of its net assets in African and Middle Eastern companies, the fund relies on the country assigned to a security by MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated data provider.

The fund expects to primarily invest in common stocks of companies located (or with primary operations) in Africa and the Middle East. The countries in which the fund normally invests include, but are not limited to, the following:

·Primary Emphasis: Bahrain, Egypt, Jordan, Kenya, Kuwait, Lebanon, Morocco, Nigeria, Oman, Qatar, Saudi Arabia, South Africa, and United Arab Emirates.

·Others: Algeria, Angola, Botswana, Ghana, Ivory Coast, Mauritius, Mozambique, Namibia, Niger Republic, Rwanda, Senegal, Syria, Tanzania, Tunisia, Uganda, Zambia, and Zimbabwe.

The fund is “nondiversified,” meaning it may invest a greater portion of its assets in a single issuer and own more of the issuer’s voting securities than is permissible for a “diversified” fund. The fund may make substantial investments in banks and financial services companies in various African and Middle Eastern countries.

While the adviser invests with an awareness of the adviser’s outlook for certain industries, sectors, and individual countries within the region, the adviser’s decision-making process focuses on bottom-up stock selection. Country allocation is driven largely by stock selection, though the adviser may limit investments in markets or industries that appear to have poor overall prospects.

Security selection reflects a growth style. The adviser relies on a global team of investment analysts dedicated to in-depth fundamental research in an effort to identify companies capable of achieving and sustaining above-average, long-term earnings growth. The adviser seeks to purchase stocks of companies at reasonable prices in relation to present or anticipated earnings, cash flow, or book value. The fund’s successful implementation of a growth-oriented strategy may lead to long-term growth of capital over time.

In selecting investments, the adviser generally favors companies with one or more of the following characteristics:

·leading or improving market position;

·attractive business niche;

·attractive or improving franchise or industry position;

·seasoned management;

·stable or improving earnings and/or cash flow; and

·sound or improving balance sheet.

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TRAMX - Performance

Return Ranking - Trailing

Period TRAMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -8.1% 15.7% 67.07%
1 Yr 14.6% -16.4% 63.5% 58.54%
3 Yr 8.2%* -30.7% 19.3% 28.05%
5 Yr 6.5%* -19.2% 16.0% 44.30%
10 Yr 3.6%* -9.9% 11.2% 40.98%

* Annualized

Return Ranking - Calendar

Period TRAMX Return Category Return Low Category Return High Rank in Category (%)
2023 9.0% -15.1% 61.2% 65.85%
2022 -7.2% -84.3% 99.1% 14.63%
2021 29.3% -29.9% 283.0% 11.25%
2020 -7.2% -50.2% 41.8% 77.22%
2019 1.7% -19.5% 46.8% 91.14%

Total Return Ranking - Trailing

Period TRAMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -8.1% 15.7% 67.07%
1 Yr 14.6% -16.4% 63.5% 58.54%
3 Yr 8.2%* -30.7% 19.3% 28.05%
5 Yr 6.5%* -19.2% 16.0% 44.30%
10 Yr 3.6%* -9.9% 11.2% 40.98%

* Annualized

Total Return Ranking - Calendar

Period TRAMX Return Category Return Low Category Return High Rank in Category (%)
2023 11.8% -12.6% 64.7% 67.07%
2022 -5.9% -83.7% 105.8% 24.39%
2021 30.2% -27.5% 283.0% 13.75%
2020 -4.3% -50.2% 43.0% 77.22%
2019 8.1% -17.8% 50.2% 84.81%

NAV & Total Return History


TRAMX - Holdings

Concentration Analysis

TRAMX Category Low Category High TRAMX % Rank
Net Assets 94 M 2.91 M 5.98 B 59.76%
Number of Holdings 55 7 873 46.34%
Net Assets in Top 10 37.9 M 1.21 M 2.36 B 62.20%
Weighting of Top 10 42.23% 10.1% 145.4% 82.93%

Top 10 Holdings

  1. AL RAJHI BANK 8.14%
  2. SAUDI NATIONAL BANK/THE 6.70%
  3. NASPERS LTD 4.59%
  4. QATAR NATIONAL BANK QPSC 4.55%
  5. FIRSTRAND LTD 3.79%
  6. SAUDI BASIC INDUSTRIES CORP 3.40%
  7. FIRST ABU DHABI BANK PJSC 3.23%
  8. SAUDI AWWAL BANK 3.21%
  9. NATIONAL BANK OF KUWAIT SAKP 2.36%
  10. RIYAD BANK 2.26%

Asset Allocation

Weighting Return Low Return High TRAMX % Rank
Stocks
99.81% 49.47% 102.46% 21.95%
Cash
0.46% 0.00% 45.53% 58.54%
Preferred Stocks
0.00% 0.00% 26.25% 45.12%
Other
0.00% -7.90% 31.19% 56.10%
Convertible Bonds
0.00% 0.00% 0.30% 32.93%
Bonds
0.00% 0.00% 2.63% 35.37%

Stock Sector Breakdown

Weighting Return Low Return High TRAMX % Rank
Financial Services
49.84% 0.00% 64.45% 7.41%
Communication Services
11.30% 0.00% 23.24% 13.58%
Consumer Cyclical
11.04% 0.00% 24.14% 23.46%
Basic Materials
9.79% 0.00% 50.50% 54.32%
Healthcare
6.39% 0.00% 37.68% 32.10%
Industrials
3.11% 0.00% 39.81% 86.42%
Consumer Defense
2.14% 0.00% 28.14% 82.72%
Technology
1.86% 0.00% 39.90% 61.73%
Real Estate
1.78% 0.00% 30.80% 59.26%
Energy
1.60% 0.00% 40.11% 67.90%
Utilities
1.15% 0.00% 29.58% 61.73%

Stock Geographic Breakdown

Weighting Return Low Return High TRAMX % Rank
Non US
98.93% 0.00% 100.20% 46.34%
US
0.88% 0.00% 102.46% 29.27%

TRAMX - Expenses

Operational Fees

TRAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.74% 0.01% 4.41% 12.35%
Management Fee 1.04% 0.00% 1.10% 92.68%
12b-1 Fee N/A 0.00% 1.00% 14.04%
Administrative Fee 0.15% 0.08% 0.15% 57.14%

Sales Fees

TRAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

TRAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 43.90%

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.

TRAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 51.30% 4.00% 217.50% 91.78%

TRAMX - Distributions

Dividend Yield Analysis

TRAMX Category Low Category High TRAMX % Rank
Dividend Yield 2.38% 0.00% 6.56% 62.20%

Dividend Distribution Analysis

TRAMX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Annually

Net Income Ratio Analysis

TRAMX Category Low Category High TRAMX % Rank
Net Income Ratio 0.75% -4.11% 4.93% 82.93%

Capital Gain Distribution Analysis

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

Distributions History

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TRAMX - Fund Manager Analysis

Managers

Oluwaseun Oyegunle


Start Date

Tenure

Tenure Rank

Aug 01, 2020

1.83

1.8%

Seun Oyegunle is the portfolio manager of the Africa & Middle East Fund in the Equity Division of T. Rowe Price. Seun’s investment experience began in 2009, and he has been with T. Rowe Price since 2013, beginning as a research analyst, covering retail and other sectors across a number of emerging markets, in the Emerging Markets department of the Equity Division. Prior to this, Seun was employed by Asset and Research Management Ltd. as an analyst covering the consumer goods sector. He also was employed by Vetiva Capital Management Ltd. Seun earned an M.B.A. in finance from the University of Pennsylvania, The Wharton School, and a B.Sc. in chemical engineering from the University of Lagos. Seun also has earned the Chartered Financial Analyst® designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 31.8 8.72 10.64