TRAMX Performance — T. Rowe Price Africa & Middle East Fund
Data updated: 2026-09-25
TRAMX returned −0.78% year to date and +7.81% over one year to Jul 2026. Annualised returns are +9.28% over 3 years and +8.31% over 5 years. The fund trailed its Emerging Markets Equity category average: $100 invested three years ago grew to $131, against $164 for the category, and to $108 over one year, against $134. Volatility over the past three years was 11.86% a year. In the 12 months to Jul 2026 the fund took in a net $4.8M, and assets reached $104.07M.
TRAMX Growth of $100
What $100 invested in T. Rowe Price Africa & Middle East Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Emerging Markets Equity category average over the same months.
| Period | TRAMX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $108 | $134 |
| 3 years (Aug 2023 – Jul 2026) | $131 | $164 |
| 5 years (Aug 2021 – Jul 2026) | $149 | $143 |
| Since data start (Aug 2019 – Jul 2026) | $172 | $188 |
TRAMX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −0.78% |
| 1 year | +7.81% |
| 3 years (annualised) | +9.28% |
| 5 years (annualised) | +8.31% |
TRAMX Annual Returns
Calendar-year total returns of T. Rowe Price Africa & Middle East Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | −0.78% |
| 2025 | +24.15% |
| 2024 | +5.32% |
| 2023 | +11.76% |
| 2022 | −5.87% |
| 2021 | +30.23% |
| 2020 | −4.33% |
| 2019 (Aug–Dec) | +1.11% |
TRAMX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +5.1% | +3.6% | −8.4% | +2.3% | +0.8% | −2.8% | −0.7% | — | — | — | — | — |
| 2025 | +3.2% | +0.5% | +2.7% | +0.2% | +1.7% | +3.9% | +1.3% | +0.6% | +5.5% | +1.7% | −3.2% | +4.0% |
| 2024 | −1.6% | +2.0% | +1.2% | −1.1% | −3.9% | +6.6% | +2.4% | +1.7% | +2.0% | −1.4% | −1.9% | −0.5% |
| 2023 | +3.2% | −4.0% | +2.1% | +2.9% | −6.0% | +7.0% | +6.1% | −5.4% | −3.4% | −2.5% | +6.0% | +6.5% |
| 2022 | +6.3% | +0.1% | +4.8% | −1.5% | −4.1% | −8.5% | +5.3% | −0.8% | −7.8% | +1.9% | +3.3% | −3.9% |
| 2021 | +2.1% | +3.7% | +5.9% | +3.1% | +4.8% | −0.8% | −0.8% | +6.3% | −1.3% | +3.7% | −4.6% | +5.1% |
| 2020 | −5.0% | −7.8% | −20.9% | +5.1% | +3.0% | +4.1% | +1.2% | +3.0% | +1.4% | +1.4% | +8.1% | +5.9% |
| 2019 | — | — | — | — | — | — | — | −6.1% | +0.6% | −0.2% | +2.1% | +5.1% |
TRAMX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 11.86%
- 3-year Sharpe ratio: 0.40 (vs 4.5% risk-free rate)
- Best month: +6.63% (Jun 2024)
- Worst month: −8.41% (Mar 2026)
TRAMX Fund Flows
Monthly money in and out of T. Rowe Price Africa & Middle East Fund, from SEC Form N-PORT.
- 12-month net flow: $4.8M
- 12-month gross sales (incl. reinvestments): $33.4M
- Sales ÷ redemptions: 1.17×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $966K | $1.8M | −$815K |
| Jun 2026 | $973K | $2.0M | −$984K |
| May 2026 | $464K | $2.2M | −$1.7M |
| Apr 2026 | $3.6M | $4.3M | −$675K |
| Mar 2026 | $841K | $2.1M | −$1.2M |
| Feb 2026 | $3.4M | $2.8M | $552K |
| Jan 2026 | $3.6M | $3.4M | $151K |
| Dec 2025 | $12.9M | $2.5M | $10.5M |
| Nov 2025 | $2.4M | $1.9M | $456K |
| Oct 2025 | $1.6M | $1.5M | $46K |
| Sep 2025 | $816K | $1.7M | −$852K |
| Aug 2025 | $1.9M | $2.5M | −$550K |
TRAMX Assets Under Management
Net assets of T. Rowe Price Africa & Middle East Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $104.07M |
| 2026-04-30 | $110.56M |
| 2026-01-31 | $115.24M |
| 2025-10-31 | $108.69M |
| 2025-07-31 | $101.96M |
| 2025-04-30 | $95.11M |
| 2025-01-31 | $92.45M |
| 2024-10-31 | $95.70M |
| 2024-07-31 | $96.92M |
| 2024-04-30 | $95.46M |
| 2024-01-31 | $96.78M |
| 2023-10-31 | $89.75M |
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.