Morningstar

T. Rowe Price China Evolution Equity Fund I Class TRCLX

Morningstar Medalist Rating
Medalist Rating as of | See T. Rowe Price Investment Hub
  • NAV / 1-Day Return 18.31  /  +0.33 %
  • Total Assets 108.6M
  • Adj. Expense Ratio
    1.030%
  • Expense Ratio 1.040%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Greater China Region
  • Investment Style Large Growth
  • Min. Initial Investment 500,000
  • Status Open
  • TTM Yield 1.26%
  • Turnover 104%

USD | NAV as of Jun 13, 2026 | 1-Day Return as of Jun 13, 2026, 12:23 AM GMT+0

Morningstar’s Analysis TRCLX

Will TRCLX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable TRCLX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the TRCLX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of TRCLX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A differentiated all-China equity offering.

Principal Claire Liang

Claire Liang

Principal

Summary

T. Rowe Price China Evolution Equity benefits from a capable portfolio manager and a differentiated investment approach that effectively draws on the manager’s domain expertise in China’s underowned smaller-cap universe. However, concerns around the supporting team’s stability and depth temper our conviction. The strategy earns an Average People rating and an Above Average Process rating.

by Claire Liang
Rated on Published on

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Portfolio Holdings TRCLX

More TRCLX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 29.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

T. Rowe Price Gov. Reserve

6.84 7M
Cash and Equivalents

Kingboard Laminates Holdings Ltd

4.74 5M
Technology

Unimicron Technology Corp

4.50 4M
Technology

Yantai Jereh Oilfield Services Group Co Ltd Class A

3.51 3M
Energy

Yunnan Aluminium Co Ltd Class A

3.03 3M
Basic Materials

Wus Printed Circuit (Kunshan) Co Ltd Class A

2.69 3M
Technology

H World Group Ltd Ordinary Shares

2.41 2M
Consumer Cyclical

Calb

2.27 2M
—

China Jushi Co Ltd Class A

2.26 2M
Basic Materials

Lotes Co Ltd

2.25 2M
Technology

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