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Is T. Rowe Price International Discovery (PRIDX) a Strong Mutual Fund Pick Right Now?
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Mutual Fund Equity Report fund seekers may want to consider taking a look at T. Rowe Price International Discovery (PRIDX - Free Report) . PRIDX possesses a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
T. Rowe Price is based in Baltimore, MD, and is the manager of PRIDX. The T. Rowe Price International Discovery made its debut in December of 1988 and PRIDX has managed to accumulate roughly $3.50 billion in assets, as of the most recently available information. The fund is currently managed by Ben Griffiths who has been in charge of the fund since March of 2020.
Performance
Of course, investors look for strong performance in funds. PRIDX has a 5-year annualized total return of 4.73% and it sits in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 6.3%, which places it in the top third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of PRIDX over the past three years is 21.33% compared to the category average of 18.74%. Looking at the past 5 years, the fund's standard deviation is 18.42% compared to the category average of 16.48%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 0.93, so investors should note that it is hypothetically less volatile than the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. The fund has produced a negative alpha over the past 5 years of -6.22, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, PRIDX is a no load fund. It has an expense ratio of 1.23% compared to the category average of 1.15%. From a cost perspective, PRIDX is actually more expensive than its peers.
This fund requires a minimum initial investment of $2,500, and each subsequent investment should be at least $100.
Bottom Line
Overall, T. Rowe Price International Discovery ( PRIDX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, this fund looks like a somewhat average choice for investors right now.
Your research on the Mutual Fund Equity Report segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.
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Is T. Rowe Price International Discovery (PRIDX) a Strong Mutual Fund Pick Right Now?
Mutual Fund Equity Report fund seekers may want to consider taking a look at T. Rowe Price International Discovery (PRIDX - Free Report) . PRIDX possesses a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
T. Rowe Price is based in Baltimore, MD, and is the manager of PRIDX. The T. Rowe Price International Discovery made its debut in December of 1988 and PRIDX has managed to accumulate roughly $3.50 billion in assets, as of the most recently available information. The fund is currently managed by Ben Griffiths who has been in charge of the fund since March of 2020.
Performance
Of course, investors look for strong performance in funds. PRIDX has a 5-year annualized total return of 4.73% and it sits in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 6.3%, which places it in the top third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of PRIDX over the past three years is 21.33% compared to the category average of 18.74%. Looking at the past 5 years, the fund's standard deviation is 18.42% compared to the category average of 16.48%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 0.93, so investors should note that it is hypothetically less volatile than the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. The fund has produced a negative alpha over the past 5 years of -6.22, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, PRIDX is a no load fund. It has an expense ratio of 1.23% compared to the category average of 1.15%. From a cost perspective, PRIDX is actually more expensive than its peers.
This fund requires a minimum initial investment of $2,500, and each subsequent investment should be at least $100.
Bottom Line
Overall, T. Rowe Price International Discovery ( PRIDX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, this fund looks like a somewhat average choice for investors right now.
Your research on the Mutual Fund Equity Report segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.