T. Rowe Price Global High Income Bond Fund (PAIHX)
The investment seeks high income and, secondarily, capital appreciation. The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in bonds. It seeks to invest in a diversified portfolio of high yield bonds, also known as "junk" bonds, and other high income producing instruments. Junk bonds are bonds that are rated below investment grade (BB and lower, or an equivalent rating) by established credit rating agencies or, if unrated, deemed to be below investment grade by T. Rowe Price.
Fund Info
US77956H5422
Jan 22, 2015
$2,500
Expense Ratio
PAIHX has a high expense ratio of 0.96%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
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.
Returns By Period
T. Rowe Price Global High Income Bond Fund had a return of 1.36% year-to-date (YTD) and 9.36% in the last 12 months. Over the past 10 years, T. Rowe Price Global High Income Bond Fund had an annualized return of 4.23%, while the S&P 500 had an annualized return of 11.26%, indicating that T. Rowe Price Global High Income Bond Fund did not perform as well as the benchmark.
PAIHX
1.36%
0.89%
4.23%
9.36%
2.50%
4.23%
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
Monthly Returns
The table below presents the monthly returns of PAIHX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 1.24% | 1.36% | |||||||||||
| 2024 | 0.52% | 0.51% | 0.55% | -0.52% | 1.09% | 0.87% | 1.76% | 1.29% | 1.31% | -0.05% | 0.76% | -0.04% | 8.33% |
| 2023 | 4.03% | -1.11% | 0.34% | 0.75% | -0.81% | 1.84% | 1.64% | 0.45% | -0.39% | -1.27% | 4.35% | 3.34% | 13.75% |
| 2022 | -2.48% | -1.93% | -0.45% | -2.82% | -1.52% | -6.78% | 3.97% | -0.69% | -4.72% | 1.64% | 3.49% | -3.78% | -15.41% |
| 2021 | 0.34% | 0.57% | 0.09% | 0.86% | 0.45% | 0.83% | 0.08% | 0.65% | -0.14% | -1.01% | -1.53% | 0.91% | 2.10% |
| 2020 | 0.26% | -2.07% | -15.09% | 7.10% | 4.54% | 1.77% | 3.91% | 1.56% | -1.19% | 0.77% | 3.92% | 1.85% | 5.67% |
| 2019 | 3.65% | 1.57% | 0.89% | 1.48% | -0.69% | 2.05% | 0.75% | 0.39% | 0.80% | 0.35% | 0.45% | 1.34% | 13.76% |
| 2018 | 0.63% | -0.93% | -0.51% | 0.25% | -0.80% | -0.42% | 1.60% | -0.06% | 0.84% | -0.72% | -1.02% | -1.99% | -3.13% |
| 2017 | 1.23% | 1.15% | 0.01% | 1.42% | 0.88% | 0.32% | 1.22% | 0.37% | 0.76% | 0.76% | -0.31% | 0.00% | 8.06% |
| 2016 | -1.34% | 0.55% | 4.90% | 3.02% | 0.62% | 0.67% | 2.39% | 1.83% | 0.38% | 0.26% | -0.99% | 1.49% | 14.49% |
| 2015 | -0.14% | 2.96% | -0.12% | 2.09% | 0.98% | -0.95% | -0.23% | -2.56% | -2.74% | 2.66% | -0.94% | -1.83% | -1.03% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 92, PAIHX is among the top 8% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price Global High Income Bond Fund (PAIHX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
T. Rowe Price Global High Income Bond Fund provided a 6.39% dividend yield over the last twelve months, with an annual payout of $0.56 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.56 | $0.55 | $0.53 | $0.47 | $0.44 | $0.53 | $0.54 | $0.57 | $0.58 | $0.56 | $0.56 |
Dividend yield | 6.39% | 6.41% | 6.27% | 5.87% | 4.44% | 5.17% | 5.34% | 6.00% | 5.59% | 5.54% | 6.03% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.05 | $0.00 | $0.05 | ||||||||||
| 2024 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.55 |
| 2023 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.53 |
| 2022 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.47 |
| 2021 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.44 |
| 2020 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.53 |
| 2019 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.54 |
| 2018 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.57 |
| 2017 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.58 |
| 2016 | $0.04 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.56 |
| 2015 | $0.01 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.56 |
Drawdowns
Drawdowns Chart
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.
Worst Drawdowns
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 0.11%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -23.76% | Feb 20, 2020 | 23 | Mar 23, 2020 | 158 | Nov 4, 2020 | 181 |
| -18.94% | Sep 15, 2021 | 279 | Oct 21, 2022 | 475 | Sep 13, 2024 | 754 |
| -10.58% | Jun 3, 2015 | 176 | Feb 11, 2016 | 54 | Apr 29, 2016 | 230 |
| -4.75% | Oct 4, 2018 | 58 | Dec 27, 2018 | 27 | Feb 6, 2019 | 85 |
| -2.87% | Feb 1, 2018 | 103 | Jun 28, 2018 | 65 | Oct 1, 2018 | 168 |
Volatility
Volatility Chart
The current T. Rowe Price Global High Income Bond Fund volatility is 0.75%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.