TRZMX Performance — T. Rowe Price Africa & Middle East Fund, Z Class
Data updated: 2026-09-25
TRZMX returned −0.09% year to date and +9.19% over one year to Jul 2026. Annualised returns are +10.73% over 3 years and +9.74% over 5 years. The fund trailed its Emerging Markets Equity category average: $100 invested three years ago grew to $136, against $164 for the category, and to $109 over one year, against $134. Volatility over the past three years was 11.89% a year. In the 12 months to Jul 2026 the fund took in a net $4.8M, and assets reached $104.07M.
TRZMX 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 | TRZMX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $109 | $134 |
| 3 years (Aug 2023 – Jul 2026) | $136 | $164 |
| 5 years (Aug 2021 – Jul 2026) | $159 | $143 |
| Since data start (Feb 2021 – Jul 2026) | $177 | $148 |
TRZMX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −0.09% |
| 1 year | +9.19% |
| 3 years (annualised) | +10.73% |
| 5 years (annualised) | +9.74% |
TRZMX 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) | −0.09% |
| 2025 | +25.77% |
| 2024 | +6.68% |
| 2023 | +13.20% |
| 2022 | −4.59% |
| 2021 (Feb–Dec) | +22.21% |
TRZMX 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 | +5.3% | +3.6% | −8.2% | +2.4% | +0.9% | −2.7% | −0.6% | — | — | — | — | — |
| 2025 | +3.2% | +0.7% | +2.8% | +0.3% | +1.8% | +4.0% | +1.4% | +0.8% | +5.6% | +1.8% | −3.2% | +4.1% |
| 2024 | −1.5% | +2.0% | +1.4% | −1.0% | −3.8% | +6.7% | +2.6% | +1.8% | +2.1% | −1.2% | −1.8% | −0.4% |
| 2023 | +3.3% | −3.9% | +2.1% | +3.2% | −6.0% | +7.3% | +6.1% | −5.3% | −3.3% | −2.4% | +6.2% | +6.7% |
| 2022 | +6.4% | +0.2% | +4.9% | −1.3% | −4.0% | −8.5% | +5.5% | −0.7% | −7.8% | +2.1% | +3.4% | −3.7% |
| 2021 | — | −1.7% | +6.1% | +3.2% | +5.0% | −0.7% | −0.8% | +6.5% | −1.2% | +3.8% | −4.3% | +5.1% |
TRZMX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 11.89%
- 3-year Sharpe ratio: 0.52 (vs 4.5% risk-free rate)
- Best month: +6.74% (Jun 2024)
- Worst month: −8.25% (Mar 2026)
TRZMX 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 |
TRZMX 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.