Fund Evaluator:

T. Rowe Price Em Mkts Discv Stk Adv Overview

T. Rowe Price Em Mkts Discv Stk Adv (PAIJX) is an actively managed International Equity Diversified Emerging Mkts fund. T. Rowe Price launched the fund in 2015.

The investment seeks long-term growth of capital. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in stocks issued by companies in emerging markets. The fund relies on MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated data provider to determine the country assigned to a security and whether the country is considered an emerging market. The Advisor expects to primarily invest in common stocks of companies located (or with primary operations) in emerging markets (which may include frontier markets) in Asia, Latin America, Europe, Africa, and the Middle East.

About T. Rowe Price Em Mkts Discv Stk Adv (PAIJX)

There are 1 members of the management team with an average tenure of 10.88 years: Ernest Yeung (2015). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI EM NR USD index with a weighting of 100% and Lipper Emerging Markets Fund Average index with a weighting of 100%. T. Rowe Price Em Mkts Discv Stk Adv has 71 securities in its portfolio. The top 10 holdings constitute 45.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

T. Rowe Price Em Mkts Discv Stk Adv is part of the Equity global asset class and is within the International Equity fund group. T. Rowe Price Em Mkts Discv Stk Adv has 93.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.1%. There is 93.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). T. Rowe Price Em Mkts Discv Stk Adv has 4.1% of the portfolio in cash.

Assets Under Management

The fund has $797 million in total assets, which is below the $967 million average for the Diversified Emerging Mkts category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

PAIJX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The T. Rowe Price Em Mkts Discv Stk Adv expense ratio is high compared to funds in the Diversified Emerging Mkts category. T. Rowe Price Em Mkts Discv Stk Adv has an expense ratio of 1.55%, which is 34% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. T. Rowe Price Em Mkts Discv Stk Adv has a portfolio turnover rate of 36%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.

Recently, in the month of July 2026, T. Rowe Price Em Mkts Discv Stk Adv returned -3.9%, which earned it a grade of B, as the Diversified Emerging Mkts category had an average return of -4.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

T. Rowe Price Em Mkts Discv Stk Adv has a trailing yield of 3.50%, which is above the 1.72% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

T. Rowe Price Em Mkts Discv Stk Adv Grades

Year to date, the fund has returned 20.0%, 0.9 percentage points better than the category, which translates into a grade of C. The fund has returned 42.6% over the past year (grade of B), 19.8% over the past three years (grade of B) and 9.9% per year over the past five years (grade of A) and 10.0% per year over the past 10 years (grade of B).

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