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Is there a source I can go to to get an evaluation of T Rowe Price international funds? Have any MFO readers tracked these funds themselves and can advise me about which funds to consider and which to stay away from?
I own PRIDX. Almost all my stuff is with TRP. "International Discovery." Smid-caps. M* rates it as mostly mid-cap growth. It fell hard with coronavirus. But it's coming back, down -13% now, ytd. Down to 3 stars, but still with a silver decoration. Turnover is 26% in the portfolio. I don't take Morningstar as gospel, but it's what I see most of. You get accustomed to navigating a particular website. Top 15% among peers, ytd. Not a great showing compared to peers LAST year, but still very good indeed. Upside capture is less than the 100 you'd like to see (or better,) but downside-capture is 85, and that's better than peers--- at least as Morningstar has them grouped. I'm sticking with it, but it's just 5.5% of portfolio. My TOTAL ex-USA stocks = only 7% now.
My wife and I have been with TRP for decades and have been pleased as punch the entire time. Great choice for intelligent investors.
As for their international funds, they have them all for various objectives. So much depends upon what you're looking for. Over the years I have tried most of them. At this moment in time, our intl positions are minimal on equities.
I own PRIDX. ... It fell hard with coronavirus. But it's coming back, down -13% now, ytd. Down to 3 stars, but still with a silver decoration. ... Top 15% among peers, ytd. Not a great showing compared to peers LAST year, but still very good indeed.
For a few months, I've been promising myself to make a post on being careful about what numbers do and don't represent (i.e. look behind the numbers). Figures like ERs, duration, performance. One of these days.
Meanwhile, to deconstruct these numbers and ratings a bit:
PRIDX outperformed both its benchmark and its category 2019 Q4, 2020 Q1 and YTD, so while it fell hard with coronavirus, on a relative basis it performed admirably. It's the whole market that has come back (to some extent), and PRIDX has more or less just kept up its rate of outperformance.
Generally, above average return with below average risk gets a fund into, or close to a 4 star rating. Thus, as of March 31, PRIDX was rated 4 stars for the five year period (above average performance), but 3 stars for the three and ten year periods.
Now take a look at the 3/5/10 performance figures. To be rated above average, a fund must be in the top 32.5% of its category (but not in the top 10%).
PRIDX came close to above average performance, but didn't make it over 3 years (38th percentile) or 10 years (33rd percentile). Shift that 10 year performance a little and the 10 year star rating should move up to 4 stars, bringing the overall weighted average rating also up to four stars.
It looks like this has happened. Take performance rankings through today (April 26). 10 year moves up to 27th percentile, 5 year drops slightly from 14th to 17th percentile, and 3 year moves up to 29th percentile. All above average performances.
So one should expect the star rating to move back to 4 stars when it's recalculated unless the fund stumbles in the interim.
All of this goes to show that even when looking at long term performance, what a fund has done lately can have a significant impact.
The poor showing last year? Over the whole year it underperformed its category by 3.18% where the average gain was 27.78%. Not a great showing, but not as bad as its 71st percentile would superficially suggest. Also, it never had a really bad quarter; it just chugged along, trailing by as much as 1.18% in Q3 and as little as 0.25% in Q4. Not great, but fairly consistent and nothing obvious to get concerned about.
If you believe in the benefits of diversification, PSILX is a fine choice. It has low expenses for an international fund, above average returns and exposure to almost all segments of foreign markets.
T Rowe use to have some tools I used, such as portfolio analysis with a Stock Overlap feature. Do they still have that? I have tried logging on but they do not recognize me nor can I find a way to create a new account. I have some T Rowe funds but thru Fidelity.
T Rowe use to have some tools I used, such as portfolio analysis with a Stock Overlap feature. Do they still have that? I have tried logging on but they do not recognize me nor can I find a way to create a new account. I have some T Rowe funds but thru Fidelity.
They still provide some Morningstar tools. Since I have an account I'm not going to attempt to reregister, but it looks like this page might be what you're looking for:
If you believe in the benefits of diversification, PSILX is a fine choice. It has low expenses for an international fund, above average returns and exposure to almost all segments of foreign markets.
Good risk/reward profile, there on PSILX. Look at the 10-year: Avg/High.
PRIJX got some attention here a few of years back, when it was known as EM Value. It did great things in 2016-17 and then it didn't. TR for last three years is -3.67% and YTD -27.9%. Ouch!
PRIJX is posterchild for not going with consensus - emerging markets was supposed to be the bomb. I own a smattering for my MIL and already took some tax losses.
Not sure what JoJo26 is thinking. Maybe one reason to avoid TRP international funds maybe they carry redemption fees? In any case, I think TRP ability is its target / balanced / retirement / allocation funds and is where they do good job.
They are no better or worse than any other fund company. I'm not sure what you are looking for exactly. Of the big firms which have no load funds, you got Vanguard, Fidelity, TRP, TIAA, maybe a few more I'm missing. I have accounts because I have a lot of options if I need exposure to certain category / area.
However, if you hate TRP like I hate AQR, I get it. You just don't like a firm, that's it. No explanation need be asked or given and vice versa. I have no idea how to answer your question "Have I done conducted rigorous diligence on T. Rowe?". Not like I'm going to marry him.
To be rated above average, a fund must be in the top 32.5% of its category (but not in the top 10%).
PRIDX came close to above average performance, but didn't make it over 3 years (38th percentile) or 10 years (33rd percentile). Shift that 10 year performance a little and the 10 year star rating should move up to 4 stars, bringing the overall weighted average rating also up to four stars.
It looks like this has happened. Take performance rankings through today (April 26). 10 year moves up to 27th percentile, 5 year drops slightly from 14th to 17th percentile, and 3 year moves up to 29th percentile. All above average performances.
So one should expect the star rating to move back to 4 stars when it's recalculated unless the fund stumbles in the interim.
Either you have or have not... It's as simple as that... Clearly, if you don't know, then you have not.
I have done all the research on TRP I need to do. What is clear, is you don't really care. Which is fine. Worse though is all you seem to want to do is public shaming. WTF don't you tell us what great research you have done on TRP and how they suck at international investing?
You are practicing JourANALism. You want to ask people great questions with a "negative" in it. First explain what your position is.
They still provide some Morningstar tools. Since I have an account I'm not going to attempt to reregister, but it looks like this page might be what you're looking for:
Thanks, @msf, this looks like a nice opportunity. Unfortunately I've tried a few different times on different days, different laptops and so on but it hasn't worked for me. Has anyone else had any success?
Comments
Here's the US NEWS magazine's TRP listing and ranking of TRP funds:
https://money.usnews.com/funds/t-rowe-price
Actually here are some global / international choices:
PRGSX
RPGAX
PSILX
PRCNX
My wife and I have been with TRP for decades and have been pleased as punch the entire time. Great choice for intelligent investors.
As for their international funds, they have them all for various objectives. So much depends upon what you're looking for. Over the years I have tried most of them. At this moment in time, our intl positions are minimal on equities.
Good luck
And so it goes
Peace and Flatten the Curve
Rono
T Rowe Price website indicates that the fund is closed to new investors.
"PRIDX is closed to new investors."
Meanwhile, to deconstruct these numbers and ratings a bit:
PRIDX outperformed both its benchmark and its category 2019 Q4, 2020 Q1 and YTD, so while it fell hard with coronavirus, on a relative basis it performed admirably. It's the whole market that has come back (to some extent), and PRIDX has more or less just kept up its rate of outperformance.
So why the 3 stars? M* continues to rate its risk as below average (as of March 31) for 3 years, 5 years, and 10 years. Also as of March 31, M* rates 3/5/10 year performance as average, above average, average.
http://performance.morningstar.com/fund/performance-return.action?t=PRIDX®ion=usa&culture=en-US
Generally, above average return with below average risk gets a fund into, or close to a 4 star rating. Thus, as of March 31, PRIDX was rated 4 stars for the five year period (above average performance), but 3 stars for the three and ten year periods.
The overall star rating is a weighted average: 3 years (20%), 5 years (30%), and 10 years (50%). So PRIDX gets 3 stars.
https://www.morningstar.com/content/dam/marketing/shared/research/methodology/771945_Morningstar_Rating_for_Funds_Methodology.pdf
Now take a look at the 3/5/10 performance figures. To be rated above average, a fund must be in the top 32.5% of its category (but not in the top 10%).
PRIDX came close to above average performance, but didn't make it over 3 years (38th percentile) or 10 years (33rd percentile). Shift that 10 year performance a little and the 10 year star rating should move up to 4 stars, bringing the overall weighted average rating also up to four stars.
It looks like this has happened. Take performance rankings through today (April 26). 10 year moves up to 27th percentile, 5 year drops slightly from 14th to 17th percentile, and 3 year moves up to 29th percentile. All above average performances.
So one should expect the star rating to move back to 4 stars when it's recalculated unless the fund stumbles in the interim.
All of this goes to show that even when looking at long term performance, what a fund has done lately can have a significant impact.
The poor showing last year? Over the whole year it underperformed its category by 3.18% where the average gain was 27.78%. Not a great showing, but not as bad as its 71st percentile would superficially suggest. Also, it never had a really bad quarter; it just chugged along, trailing by as much as 1.18% in Q3 and as little as 0.25% in Q4. Not great, but fairly consistent and nothing obvious to get concerned about.
I have tried logging on but they do not recognize me nor can I find a way to create a new account. I have some T Rowe funds but thru Fidelity.
Register For The Site
https://www3.troweprice.com/aaweb1/accountAccess/publicBenefitsOfRegistration.do
Register For The Site
https://www3.troweprice.com/aaweb1/accountAccess/publicBenefitsOfRegistration.do
Not sure what JoJo26 is thinking. Maybe one reason to avoid TRP international funds maybe they carry redemption fees? In any case, I think TRP ability is its target / balanced / retirement / allocation funds and is where they do good job.
Just my 2 cents.
However, if you hate TRP like I hate AQR, I get it. You just don't like a firm, that's it. No explanation need be asked or given and vice versa. I have no idea how to answer your question "Have I done conducted rigorous diligence on T. Rowe?". Not like I'm going to marry him.
You are practicing JourANALism. You want to ask people great questions with a "negative" in it. First explain what your position is.