Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
-2.7%
1 yr return
0.4%
3 Yr Avg Return
0.3%
5 Yr Avg Return
-0.7%
Net Assets
$316 M
Holdings in Top 10
26.7%
Expense Ratio 6.83%
Front Load N/A
Deferred Load N/A
Turnover 83.10%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
$1,000
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal conditions, at least 80% of the fund’s net assets (including any borrowings for investment purposes) are 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 are 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).
The fund may use a variety of derivatives, such as futures, forwards, and swaps for a number of purposes such as for exposure or hedging. Specifically, the fund uses forward currency exchange contracts, currency options, interest rate swaps, interest rate futures, credit default swaps, and inflation swaps.
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 may use credit default swaps to buy or sell credit protection on individual bond issuers or sectors of the bond markets. Credit default swaps may be used to replicate the exposure of a bond or portfolio of bonds and as a hedge against a default or other credit event involving one of the fund’s holdings. Credit default swap indexes are primarily used to hedge the portfolio's overall credit risk or to efficiently gain exposure to certain sectors or asset classes (such as high yield bonds). The fund may buy or sell credit default swaps involving a specific issuer or an index in order to adjust the fund’s overall credit quality, as well as to protect the value of certain portfolio holdings. Inflation swaps, which are tied to a designated inflation index such as the Consumer Price Index (CPI), would typically be used to manage the fund’s inflation risk.
The fund is “nondiversified,” meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a “diversified” fund.
Period | PAELX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.7% | -5.8% | 461.6% | 96.93% |
1 Yr | 0.4% | -4.4% | 478.4% | 95.22% |
3 Yr | 0.3%* | -7.2% | 59.6% | 62.19% |
5 Yr | -0.7%* | -7.1% | 29.2% | 86.30% |
10 Yr | -0.3%* | -5.5% | 14.4% | 85.87% |
* Annualized
Period | PAELX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.2% | -10.6% | 17.8% | 11.95% |
2022 | -16.0% | -29.1% | -2.4% | 34.63% |
2021 | -13.7% | -24.0% | 2.7% | 93.19% |
2020 | -0.6% | -14.0% | 9.7% | 73.33% |
2019 | 7.1% | -6.4% | 13.0% | 67.67% |
Period | PAELX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.7% | -5.8% | 461.6% | 96.93% |
1 Yr | 0.4% | -4.4% | 478.4% | 95.22% |
3 Yr | 0.3%* | -7.2% | 59.6% | 62.19% |
5 Yr | -0.7%* | -7.1% | 29.2% | 86.30% |
10 Yr | -0.3%* | -5.5% | 14.4% | 85.87% |
* Annualized
Period | PAELX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.0% | -0.6% | 20.0% | 5.80% |
2022 | -11.3% | -27.6% | -1.7% | 32.51% |
2021 | -9.8% | -18.5% | 7.4% | 92.83% |
2020 | 3.8% | -7.8% | 18.0% | 69.63% |
2019 | 11.3% | -3.0% | 23.0% | 80.83% |
PAELX | Category Low | Category High | PAELX % Rank | |
---|---|---|---|---|
Net Assets | 316 M | 565 K | 14.8 B | 48.12% |
Number of Holdings | 327 | 4 | 1860 | 39.93% |
Net Assets in Top 10 | 86.9 M | -134 M | 1.25 B | 40.27% |
Weighting of Top 10 | 26.70% | 5.8% | 102.5% | 25.17% |
Weighting | Return Low | Return High | PAELX % Rank | |
---|---|---|---|---|
Bonds | 92.59% | 0.00% | 100.50% | 77.47% |
Cash | 7.14% | 0.00% | 29.76% | 21.50% |
Convertible Bonds | 1.22% | 0.00% | 8.47% | 15.17% |
Stocks | 0.16% | -0.01% | 96.78% | 15.02% |
Other | 0.12% | -10.15% | 86.73% | 39.93% |
Preferred Stocks | 0.00% | 0.00% | 2.24% | 60.07% |
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 |
Weighting | Return Low | Return High | PAELX % Rank | |
---|---|---|---|---|
US | 0.16% | 0.00% | 95.74% | 12.97% |
Non US | 0.00% | -0.01% | 88.26% | 61.77% |
Weighting | Return Low | Return High | PAELX % Rank | |
---|---|---|---|---|
Government | 83.95% | 0.00% | 99.79% | 6.21% |
Cash & Equivalents | 2.76% | 0.00% | 23.23% | 45.73% |
Corporate | 2.37% | 0.00% | 91.26% | 86.55% |
Derivative | 0.12% | -3.00% | 13.76% | 22.18% |
Securitized | 0.00% | 0.00% | 2.41% | 65.17% |
Municipal | 0.00% | 0.00% | 0.00% | 59.31% |
Weighting | Return Low | Return High | PAELX % Rank | |
---|---|---|---|---|
Non US | 84.32% | 0.00% | 132.49% | 17.06% |
US | 8.28% | -42.31% | 99.16% | 80.55% |
PAELX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 6.83% | 0.02% | 32.92% | 2.05% |
Management Fee | 0.65% | 0.00% | 1.10% | 37.20% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 38.52% |
Administrative Fee | 0.15% | 0.02% | 0.65% | 66.67% |
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 |
PAELX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.75% | 2.00% | 100.00% |
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% | 75.39% |
PAELX | Category Low | Category High | PAELX % Rank | |
---|---|---|---|---|
Dividend Yield | 6.27% | 0.00% | 22.22% | 77.13% |
PAELX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
PAELX | Category Low | Category High | PAELX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.35% | -2.28% | 8.00% | 37.06% |
PAELX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Oct 30, 2024 | $0.024 | OrdinaryDividend |
Sep 27, 2024 | $0.023 | OrdinaryDividend |
Aug 29, 2024 | $0.026 | OrdinaryDividend |
Jul 30, 2024 | $0.024 | OrdinaryDividend |
Apr 29, 2024 | $0.023 | OrdinaryDividend |
Mar 28, 2024 | $0.024 | OrdinaryDividend |
Feb 28, 2024 | $0.022 | OrdinaryDividend |
Jan 30, 2024 | $0.022 | OrdinaryDividend |
Dec 28, 2023 | $0.024 | OrdinaryDividend |
Nov 29, 2023 | $0.023 | OrdinaryDividend |
Oct 30, 2023 | $0.022 | OrdinaryDividend |
Sep 28, 2023 | $0.023 | OrdinaryDividend |
Aug 30, 2023 | $0.025 | OrdinaryDividend |
Jul 28, 2023 | $0.023 | OrdinaryDividend |
Jun 29, 2023 | $0.026 | OrdinaryDividend |
May 30, 2023 | $0.024 | OrdinaryDividend |
Apr 27, 2023 | $0.022 | OrdinaryDividend |
Mar 30, 2023 | $0.027 | OrdinaryDividend |
Feb 27, 2023 | $0.022 | OrdinaryDividend |
Jan 30, 2023 | $0.039 | OrdinaryDividend |
Dec 29, 2022 | $0.025 | ReturnOfCapital |
Nov 29, 2022 | $0.022 | ReturnOfCapital |
Oct 28, 2022 | $0.021 | ReturnOfCapital |
Sep 29, 2022 | $0.022 | ReturnOfCapital |
Aug 30, 2022 | $0.023 | ReturnOfCapital |
Jul 28, 2022 | $0.022 | ReturnOfCapital |
Jun 29, 2022 | $0.022 | ReturnOfCapital |
May 27, 2022 | $0.021 | ReturnOfCapital |
Apr 28, 2022 | $0.023 | ReturnOfCapital |
Mar 30, 2022 | $0.022 | ReturnOfCapital |
Feb 25, 2022 | $0.020 | ReturnOfCapital |
Jan 28, 2022 | $0.020 | ReturnOfCapital |
Dec 30, 2021 | $0.023 | OrdinaryDividend |
Nov 29, 2021 | $0.008 | ReturnOfCapital |
Nov 29, 2021 | $0.013 | OrdinaryDividend |
Oct 28, 2021 | $0.009 | ReturnOfCapital |
Oct 28, 2021 | $0.014 | OrdinaryDividend |
Sep 29, 2021 | $0.009 | ReturnOfCapital |
Sep 29, 2021 | $0.013 | OrdinaryDividend |
Aug 30, 2021 | $0.009 | ReturnOfCapital |
Aug 30, 2021 | $0.013 | OrdinaryDividend |
Jul 29, 2021 | $0.009 | ReturnOfCapital |
Jul 29, 2021 | $0.014 | OrdinaryDividend |
Jun 29, 2021 | $0.009 | ReturnOfCapital |
Jun 29, 2021 | $0.014 | OrdinaryDividend |
May 28, 2021 | $0.021 | OrdinaryDividend |
Apr 29, 2021 | $0.009 | ReturnOfCapital |
Apr 29, 2021 | $0.014 | OrdinaryDividend |
Mar 30, 2021 | $0.009 | ReturnOfCapital |
Mar 30, 2021 | $0.014 | OrdinaryDividend |
Feb 26, 2021 | $0.019 | OrdinaryDividend |
Jan 29, 2021 | $0.020 | OrdinaryDividend |
Dec 30, 2020 | $0.024 | OrdinaryDividend |
Nov 27, 2020 | $0.020 | ReturnOfCapital |
Oct 29, 2020 | $0.022 | ReturnOfCapital |
Sep 29, 2020 | $0.021 | ReturnOfCapital |
Aug 28, 2020 | $0.020 | ReturnOfCapital |
Jul 30, 2020 | $0.023 | ReturnOfCapital |
Jun 29, 2020 | $0.019 | ReturnOfCapital |
May 28, 2020 | $0.019 | ReturnOfCapital |
Apr 29, 2020 | $0.020 | ReturnOfCapital |
Mar 30, 2020 | $0.021 | ReturnOfCapital |
Feb 27, 2020 | $0.022 | ReturnOfCapital |
Jan 30, 2020 | $0.028 | ReturnOfCapital |
Dec 30, 2019 | $0.026 | OrdinaryDividend |
Nov 27, 2019 | $0.007 | OrdinaryDividend |
Oct 30, 2019 | $0.007 | OrdinaryDividend |
Sep 27, 2019 | $0.006 | OrdinaryDividend |
Aug 29, 2019 | $0.008 | OrdinaryDividend |
Jul 30, 2019 | $0.008 | OrdinaryDividend |
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.15 | 23.87 | 6.5 | 6.11 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...