T. Rowe Price International Bond Fund (USD Hedged) (TNBMX)
Under normal conditions, the fund invests at least 80% of its net assets (including any borrowings for investment purposes) in non-U.S. dollar-denominated bonds. In addition, under normal market conditions the fund will maintain at least 80% of its net assets in U.S. dollar currency exposure. It normally purchases bonds issued in foreign currencies, which may include bonds issued in emerging markets currencies. The fund is non-diversified.
Fund Info
US77956H1959
Sep 11, 2017
$500,000
Expense Ratio
TNBMX features an expense ratio of 0.53%, falling within the medium range.
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 International Bond Fund (USD Hedged), 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 International Bond Fund (USD Hedged) had a return of 0.14% year-to-date (YTD) and 4.72% in the last 12 months.
TNBMX
0.14%
0.38%
1.39%
4.72%
-1.37%
N/A
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
Monthly Returns
The table below presents the monthly returns of TNBMX, 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 | 0.49% | 0.14% | |||||||||||
| 2024 | -0.25% | -0.14% | 0.84% | -1.28% | 0.67% | 0.50% | 1.48% | 0.65% | 0.85% | -0.41% | 1.19% | -0.31% | 3.82% |
| 2023 | 1.92% | -0.73% | 1.71% | 0.60% | 0.14% | 0.44% | 0.48% | -0.13% | -1.04% | -0.01% | 3.38% | 2.94% | 10.01% |
| 2022 | -0.87% | -1.30% | -1.20% | -2.43% | -0.87% | -2.32% | 3.76% | -3.62% | -3.75% | 0.12% | 2.45% | -9.77% | -18.65% |
| 2021 | -0.29% | -1.35% | -0.26% | 0.25% | 0.24% | -0.06% | 1.02% | -0.08% | -1.07% | -0.37% | 0.13% | -1.02% | -2.84% |
| 2020 | 1.48% | 0.14% | -4.32% | 2.41% | 1.13% | 1.02% | 1.71% | -0.06% | 0.12% | 0.41% | 0.88% | 0.41% | 5.31% |
| 2019 | 1.78% | 0.38% | 1.53% | 0.19% | 0.91% | 1.87% | 1.25% | 1.83% | -0.56% | -0.22% | -0.23% | -1.11% | 7.81% |
| 2018 | -0.08% | 0.31% | 0.92% | -0.36% | -0.75% | 0.05% | 0.46% | -0.43% | -0.08% | -0.25% | 0.57% | -4.78% | -4.46% |
| 2017 | -0.18% | 0.47% | 0.40% | 0.32% | 1.01% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of TNBMX is 73, indicating average performance compared to other mutual funds on our website. Here’s 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 International Bond Fund (USD Hedged) (TNBMX) 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 International Bond Fund (USD Hedged) provided a 3.17% dividend yield over the last twelve months, with an annual payout of $0.27 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.27 | $0.22 | $0.17 | $0.16 | $0.16 | $0.19 | $0.17 | $0.03 |
Dividend yield | 3.17% | 3.13% | 2.59% | 2.17% | 1.59% | 1.50% | 1.95% | 1.78% | 0.31% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price International Bond Fund (USD Hedged). 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 | $0.02 | $0.00 | $0.02 | ||||||||||
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2023 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.22 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.17 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.16 |
| 2020 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.16 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.19 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.01 | $0.17 |
| 2017 | $0.00 | $0.01 | $0.01 | $0.01 | $0.03 |
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 International Bond Fund (USD Hedged). 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 International Bond Fund (USD Hedged) was 21.17%, occurring on Dec 30, 2022. The portfolio has not yet recovered.
The current T. Rowe Price International Bond Fund (USD Hedged) drawdown is 9.83%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -21.17% | Dec 14, 2020 | 516 | Dec 30, 2022 | — | — | — |
| -6.67% | Mar 5, 2020 | 11 | Mar 19, 2020 | 84 | Jul 20, 2020 | 95 |
| -6.19% | Apr 5, 2018 | 178 | Dec 17, 2018 | 123 | Jun 14, 2019 | 301 |
| -2.57% | Aug 30, 2019 | 79 | Dec 20, 2019 | 49 | Mar 4, 2020 | 128 |
| -0.58% | Aug 16, 2019 | 5 | Aug 22, 2019 | 5 | Aug 29, 2019 | 10 |
Volatility
Volatility Chart
The current T. Rowe Price International Bond Fund (USD Hedged) volatility is 0.65%, 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.