- ISIN
- US77956H5752
- CUSIP
- 77956H575
- Issuer
- T. Rowe Price
- Inception Date
- Jan 21, 2015
- Category
- Nontraditional Bonds
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
RPIEX Performance Chart
T. Rowe Price Dynamic Global Bond Fund (RPIEX) is up 3.3% since the beginning of the year. RPIEX is currently trading at $8 per share. Investors who bought $1,000 worth of RPIEX shares 5 years ago would now be looking at an investment worth $1,181.
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Returns By Period
T. Rowe Price Dynamic Global Bond Fund (RPIEX) has returned 3.33% so far this year and 3.26% over the past 12 months. Over the last ten years, RPIEX has returned 2.68% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
T. Rowe Price Dynamic Global Bond Fund
- 1D
- -0.13%
- 1M
- -0.92%
- 6M
- 2.43%
- YTD
- 3.33%
- 1Y
- 3.26%
- 3Y*
- 6.03%
- 5Y*
- 3.39%
- 10Y*
- 2.68%
- ALL TIME*
- 2.87%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
RPIEX Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2016, RPIEX's average daily return is +0.01%, while the average monthly return is +0.24%. At this rate, an investment would double in approximately 24.1 years.
Historically, 59% of months were positive and 41% were negative. The best month was Apr 2026 with a return of +3.3%, while the worst month was Jul 2022 at -3.1%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, RPIEX closed higher 40% of trading days. The best single day was Mar 26, 2020 with a return of +1.8%, while the worst single day was Mar 17, 2020 at -1.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.88% | -0.88% | -1.44% | 3.32% | 1.67% | 0.60% | -0.79% | 3.33% | |||||
| 2025 | 1.08% | 1.40% | 0.47% | -0.51% | 1.52% | -0.09% | 0.42% | 0.69% | -0.69% | -0.98% | -0.13% | 0.93% | 4.15% |
| 2024 | 0.70% | 0.44% | 0.57% | 2.23% | 0.65% | -0.59% | 0.71% | 0.99% | 0.41% | 1.96% | 0.41% | 0.95% | 9.82% |
| 2023 | -1.48% | 2.25% | 0.35% | -0.19% | -1.54% | -1.88% | -0.14% | -0.44% | 1.15% | 0.59% | -0.90% | 0.47% | -1.82% |
| 2022 | 1.10% | 0.03% | 1.82% | 1.70% | -0.75% | 1.43% | -3.11% | 2.30% | 1.42% | -2.82% | -1.29% | 1.40% | 3.08% |
| 2021 | 0.57% | 1.28% | 0.94% | 0.31% | 0.15% | -1.42% | -0.47% | -0.27% | 0.46% | -1.19% | -1.17% | 0.96% | 0.08% |
Benchmark Metrics
T. Rowe Price Dynamic Global Bond Fund has an annualized alpha of 3.62%, beta of -0.05, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since January 04, 2016.
- This fund captured 2.35% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -17.49%) - a profile typical of hedging or uncorrelated assets.
- Beta of -0.05 may look defensive, but with R2 of 0.04 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 0.04 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.
- Alpha
- 3.62%
- Beta
- -0.05
- R²
- 0.04
- Upside Capture
- 2.35%
- Downside Capture
- -17.49%
Expense Ratio
RPIEX has an expense ratio of 0.71%, placing it in the medium range.
Return for Risk
Risk / Return Rank
RPIEX ranks 17 for risk / return — above 17% of mutual funds peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Dynamic Global Bond Fund (RPIEX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| RPIEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.25 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 2.00 | -1.18 |
| Martin ratioReturn relative to average drawdown | 2.47 | 8.49 | -6.02 |
Dividends
Dividend History
T. Rowe Price Dynamic Global Bond Fund provided a 5.67% dividend yield over the last twelve months, with an annual payout of $0.43 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.43 | $0.54 | $0.71 | $0.59 | $1.30 | $0.36 | $0.19 | $0.23 | $0.41 | $0.06 | $0.27 |
Dividend yield | 5.67% | 7.07% | 9.06% | 7.53% | 15.28% | 3.76% | 1.93% | 2.51% | 4.36% | 0.61% | 2.72% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Dynamic Global 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.04 | $0.03 | $0.03 | $0.07 | $0.04 | $0.04 | $0.00 | $0.25 | |||||
| 2025 | $0.06 | $0.07 | $0.08 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.54 |
| 2024 | $0.04 | $0.06 | $0.05 | $0.08 | $0.09 | $0.03 | $0.06 | $0.07 | $0.05 | $0.06 | $0.06 | $0.03 | $0.71 |
| 2023 | $0.03 | $0.05 | $0.06 | $0.04 | $0.07 | $0.08 | $0.04 | $0.06 | $0.03 | $0.02 | $0.05 | $0.06 | $0.59 |
| 2022 | $0.02 | $0.01 | $0.02 | $0.02 | $0.04 | $0.00 | $0.00 | $0.02 | $0.00 | $0.01 | $0.03 | $1.15 | $1.30 |
| 2021 | $0.02 | $0.02 | $0.01 | $0.02 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.15 | $0.36 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Dynamic Global 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 Dynamic Global Bond Fund was 7.84%, occurring on Aug 29, 2023. Recovery took 275 trading sessions.
The current T. Rowe Price Dynamic Global Bond Fund drawdown is 1.04%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-7.84%Aug 2023 | 1y 2mo | 1y 1mo | 2y 3moJun 2022 - Oct 2024 | — |
-4.93%Dec 2021 | 6mo 28d | 4mo 2d | 11moMay 2021 - Apr 2022 | — |
-4.25%Nov 2019 | 5mo 25d | 4mo 1d | 9mo 26dJun 2019 - Mar 2020 | — |
-3.64%Mar 2026 | 1mo 13d | 26d | 2mo 9dFeb 2026 - Apr 2026 | — |
-3.19%Aug 2018 | 1y 7mo | 9mo 7d | 2y 4moJan 2017 - Jun 2019 | — |
Drawdown Indicators
| RPIEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.84% | -56.78% | +48.94% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -9.10% | +5.46% |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | -18.90% | +15.26% |
Max Drawdown (5Y)Largest decline over 5 years | -7.84% | -25.43% | +17.59% |
Max Drawdown (10Y)Largest decline over 10 years | -7.84% | -33.92% | +26.08% |
Current DrawdownCurrent decline from peak | -1.04% | -1.58% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -1.98% | -10.70% | +8.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 2.14% | -0.93% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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