T. Rowe Price Global High Income Bond Fund (PAIHX)

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The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Global High Income Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

T. Rowe Price Global High Income Bond Fund (PAIHX) has returned -2.09% so far this year and 5.71% over the past 12 months. Over the last ten years, PAIHX has returned 5.07% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Jan 4, 2016, PAIHX's average daily return is +0.02%, while the average monthly return is +0.47%. At this rate, your investment would double in approximately 12.3 years.

Historically, 70% of months were positive and 30% were negative. The best month was Apr 2020 with a return of +7.1%, while the worst month was Mar 2020 at -15.1%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.

On a daily basis, PAIHX closed higher 41% of trading days. The best single day was Mar 26, 2020 with a return of +3.0%, while the worst single day was Mar 19, 2020 at -7.4%.

T. Rowe Price Global High Income Bond Fund has an annualized alpha of 4.38%, beta of 0.09, and R² of 0.09 versus S&P 500 Index. Calculated based on daily prices since January 05, 2016.

• This fund participated in 35.64% of S&P 500 Index downside but only 32.85% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.09 may look defensive, but with R² of 0.09 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.09 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PAIHX has a high expense ratio of 0.96%, indicating above-average management fees.

PAIHX ranks 83 for risk / return — in the top 83% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

The table below present risk-adjusted performance metrics for T. Rowe Price Global High Income Bond Fund (PAIHX) and compare them to a chosen benchmark (S&P 500 Index).

T. Rowe Price Global High Income Bond Fund provided a 6.04% dividend yield over the last twelve months, with an annual payout of $0.52 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for T. Rowe Price Global High Income Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the T. Rowe Price Global High Income Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the T. Rowe Price Global High Income Bond Fund was 23.76%, occurring on Mar 23, 2020. Recovery took 158 trading sessions.

The current T. Rowe Price Global High Income Bond Fund drawdown is 2.92%.

The chart below shows the rolling one-month volatility.