TCELX Fees and Costs — T. Rowe Price China Evolution Equity Fund
Data updated: 2026-09-25
The net expense ratio is 1.40%: a 0.98% management fee plus 1.13% other expenses, less a 0.71% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $102K in broker commissions, 0.2034% of average net assets, and portfolio turnover was 104%.
TCELX Fees and Expenses
Annual operating expenses and sales charges of TCELX. Prospectus, as of December 22, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.98% |
| 12b-1 fee | — |
| Other expenses | 1.13% |
| Gross expense ratio | 2.11% |
| Fee waiver | −0.71% |
| Net expense ratio | 1.40% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
TCELX Costs Over Time
On $10,000 invested in TCELX, assuming 5% a year before costs, total costs come to $991 over 5 years, cutting the return by 1.68% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.40%) | $147 | $456 | $785 |
| Trading costs (broker commissions) | $21 | $66 | $114 |
| Lost growth on money paid in costs | $0 | $26 | $91 |
| Total costs | $168 | $548 | $991 |
| Value after costs | $10,332 | $11,028 | $11,772 |
| Impact on return, per year | 1.68% | 1.68% | 1.68% |
TCELX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2034%
- Total broker commissions: $102K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 104%
- Securities on loan, average value: $645K
- Net income from securities lending: $32K (0.063% of average net assets)
TCELX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CLSA AMERICAS, LLC | $23K | 24.49% |
| J.P. MORGAN SECURITIES LLC | $19K | 20.63% |
| MORGAN STANLEY & CO. LLC | $13K | 13.53% |
| GOLDMAN SACHS & CO. LLC | $9K | 9.55% |
| BOFA SECURITIES, INC. | $8K | 9.04% |
| UBS AG | $7K | 7.96% |
| MACQUARIE CAPITAL (USA) INC. | $5K | 5.13% |
| Citigroup Inc. | $4K | 4.35% |
| JEFFERIES LLC | $3K | 2.90% |
| CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LIMITED | $2K | 2.43% |
T. Rowe Price China Evolution Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TRCLX | I Class | 1.03% | — |
| TCELX | T. Rowe Price China Evolution Equity Fund | 1.40% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.