Share Price Chart
Loading graphics...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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.
Loading graphics...
Returns By Period
T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) has returned -0.43% so far this year and 5.96% over the past 12 months.
T. Rowe Price International Bond Fund (USD Hedged)
- 1D
- 0.00%
- 1M
- -2.32%
- YTD
- -0.43%
- 6M
- 1.22%
- 1Y
- 5.96%
- 3Y*
- 5.71%
- 5Y*
- 1.40%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Sep 13, 2017, TNBMX's average daily return is +0.01%, while the average monthly return is +0.24%. At this rate, your investment would double in approximately 24.1 years.
Historically, 62% of months were positive and 38% were negative. The best month was Jul 2022 with a return of +3.6%, while the worst month was Mar 2020 at -4.3%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.
On a daily basis, TNBMX closed higher 38% of trading days. The best single day was Dec 17, 2019 with a return of +1.5%, while the worst single day was Mar 13, 2020 at -2.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.82% | 1.10% | -2.32% | -0.43% | |||||||||
| 2025 | 0.49% | 0.37% | -0.44% | 1.60% | 0.45% | 0.86% | 0.52% | 0.39% | 0.78% | 1.30% | 0.05% | 0.31% | 6.87% |
| 2024 | -0.25% | -0.14% | 0.85% | -1.28% | 0.67% | 0.50% | 1.48% | 0.65% | 0.85% | -0.41% | 1.19% | -0.31% | 3.84% |
| 2023 | 2.08% | -0.60% | 1.70% | 0.60% | 0.14% | 0.44% | 0.48% | -0.13% | -1.04% | -0.01% | 3.38% | 2.93% | 10.32% |
| 2022 | -0.87% | -1.30% | -1.21% | -2.42% | -0.87% | -2.50% | 3.57% | -3.62% | -3.92% | 0.12% | 2.45% | -2.19% | -12.30% |
| 2021 | -0.29% | -1.35% | -0.26% | 0.25% | 0.25% | -0.06% | 1.02% | -0.08% | -1.07% | -0.37% | 0.13% | 0.21% | -1.63% |
Benchmark Metrics
T. Rowe Price International Bond Fund (USD Hedged) has an annualized alpha of 2.80%, beta of 0.01, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since September 14, 2017.
- This fund participated in 15.47% of S&P 500 Index downside but only 14.52% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.01 may look defensive, but with R² of 0.00 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 0.00 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
- 2.80%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 14.52%
- Downside Capture
- 15.47%
Expense Ratio
TNBMX has an expense ratio of 0.53%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TNBMX ranks 95 for risk / return — in the top 95% 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) and compare them to a chosen benchmark (S&P 500 Index).
| TNBMX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.36 | 0.90 | +1.47 |
Sortino ratioReturn per unit of downside risk | 3.66 | 1.39 | +2.27 |
Omega ratioGain probability vs. loss probability | 1.56 | 1.21 | +0.35 |
Calmar ratioReturn relative to maximum drawdown | 2.80 | 1.40 | +1.40 |
Martin ratioReturn relative to average drawdown | 12.78 | 6.61 | +6.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore TNBMX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
T. Rowe Price International Bond Fund (USD Hedged) provided a 6.72% dividend yield over the last twelve months, with an annual payout of $0.57 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.57 | $0.54 | $0.27 | $0.24 | $0.81 | $0.28 | $0.20 | $0.46 | $0.78 | $0.06 |
Dividend yield | 6.72% | 6.29% | 3.15% | 2.85% | 10.20% | 2.84% | 1.90% | 4.65% | 8.20% | 0.64% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.05 | $0.04 | $0.00 | $0.09 | |||||||||
| 2025 | $0.02 | $0.02 | $0.02 | $0.06 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.06 | $0.54 |
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.27 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.24 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.00 | $0.00 | $0.01 | $0.00 | $0.01 | $0.01 | $0.70 | $0.81 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.14 | $0.28 |
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.
Loading graphics...
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 15.78%, occurring on Oct 21, 2022. Recovery took 630 trading sessions.
The current T. Rowe Price International Bond Fund (USD Hedged) drawdown is 2.32%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.78% | Jan 6, 2021 | 453 | Oct 21, 2022 | 630 | Apr 29, 2025 | 1083 |
| -6.67% | Mar 5, 2020 | 11 | Mar 19, 2020 | 84 | Jul 20, 2020 | 95 |
| -2.32% | Mar 2, 2026 | 20 | Mar 27, 2026 | — | — | — |
| -1.91% | Apr 5, 2018 | 132 | Oct 10, 2018 | 48 | Dec 19, 2018 | 180 |
| -1.75% | Sep 5, 2019 | 49 | Nov 12, 2019 | 24 | Dec 17, 2019 | 73 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading graphics...