TRZFX Performance — T. Rowe Price Emerging Markets Local Currency Bond Fund, Z Class
Data updated: 2026-08-27
TRZFX returned +1.85% year to date and +8.72% over one year to Jun 2026. Annualised returns are +7.68% over 3 years and +3.15% over 5 years. The fund trailed its Emerging Markets Bond category average: $100 invested three years ago grew to $125, against $130 for the category, and to $109 over one year, against $110. Volatility over the past three years was 8.80% a year. In the 12 months to Jun 2026 the fund took in a net $171.8M, and assets reached $466.54M.
TRZFX Growth of $100
What $100 invested in T. Rowe Price Emerging Markets Local Currency Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Emerging Markets Bond category average over the same months.
| Period | TRZFX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $109 | $110 |
| 3 years (Jul 2023 – Jun 2026) | $125 | $130 |
| 5 years (Jul 2021 – Jun 2026) | $117 | $116 |
| Since data start (Feb 2021 – Jun 2026) | $115 | $116 |
TRZFX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.85% |
| 1 year | +8.72% |
| 3 years (annualised) | +7.68% |
| 5 years (annualised) | +3.15% |
TRZFX Annual Returns
Calendar-year total returns of T. Rowe Price Emerging Markets Local Currency Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.85% |
| 2025 | +20.21% |
| 2024 | −3.38% |
| 2023 | +16.06% |
| 2022 | −10.10% |
| 2021 (Feb–Dec) | −6.60% |
TRZFX 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 | +2.2% | +1.6% | −5.8% | +2.9% | +0.8% | +0.4% | — | — | — | — | — | — |
| 2025 | +2.2% | +0.6% | +1.7% | +2.9% | +1.9% | +2.8% | −1.0% | +2.7% | +1.6% | +0.6% | +1.3% | +1.4% |
| 2024 | −1.7% | −0.5% | −0.2% | −2.3% | +1.9% | −1.4% | +2.3% | +2.9% | +3.4% | −4.8% | −0.7% | −2.2% |
| 2023 | +4.6% | −3.0% | +4.1% | +1.4% | −1.3% | +4.0% | +3.0% | −3.0% | −3.5% | −0.5% | +5.9% | +3.9% |
| 2022 | +0.1% | −2.8% | −2.1% | −5.2% | +1.8% | −5.3% | −0.5% | +0.1% | −5.3% | −0.3% | +7.8% | +1.9% |
| 2021 | — | −1.5% | −3.1% | +2.3% | +2.4% | −1.3% | −0.8% | +1.0% | −3.4% | −1.2% | −2.7% | +1.8% |
TRZFX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 8.80%
- 3-year Sharpe ratio: 0.36 (vs 4.5% risk-free rate)
- Best month: +5.95% (Nov 2023)
- Worst month: −5.82% (Mar 2026)
TRZFX Fund Flows
Monthly money in and out of T. Rowe Price Emerging Markets Local Currency Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $171.8M
- 12-month gross sales (incl. reinvestments): $227.8M
- Sales ÷ redemptions: 4.07×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $6.4M | $4.1M | $2.3M |
| May 2026 | $8.3M | $2.4M | $5.9M |
| Apr 2026 | $34.4M | $7.0M | $27.4M |
| Mar 2026 | $31.0M | $9.9M | $21.1M |
| Feb 2026 | $18.7M | $4.8M | $14.0M |
| Jan 2026 | $18.0M | $1.6M | $16.5M |
| Dec 2025 | $37.9M | $2.0M | $35.9M |
| Nov 2025 | $11.3M | $3.6M | $7.7M |
| Oct 2025 | $7.8M | $2.4M | $5.4M |
| Sep 2025 | $37.0M | $3.2M | $33.8M |
| Aug 2025 | $8.4M | $6.3M | $2.1M |
| Jul 2025 | $8.7M | $8.9M | −$206K |
TRZFX Assets Under Management
Net assets of T. Rowe Price Emerging Markets Local Currency Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $466.54M |
| 2026-03-31 | $421.88M |
| 2025-12-31 | $388.24M |
| 2025-09-30 | $333.32M |
| 2025-06-30 | $293.41M |
| 2025-03-31 | $275.17M |
| 2024-12-31 | $294.00M |
| 2024-09-30 | $325.41M |
| 2024-06-30 | $304.78M |
| 2024-03-31 | $314.13M |
| 2023-12-31 | $324.19M |
| 2023-09-30 | $337.93M |
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.