DFSB vs. TMSF

Last updated Jun 24, 2026

DFSB (Dimensional Global Sustainability Fixed Income ETF) and TMSF (T. Rowe Price Multi-Sector Income ETF) are both exchange-traded funds - DFSB is a Global Bonds fund actively managed by Dimensional, while TMSF is a Multisector Bonds fund actively managed by T. Rowe Price. Both are actively managed. A 0.65 correlation means they provide meaningful diversification when combined. DFSB charges 0.24%/yr vs 0.37%/yr for TMSF.

Performance

DFSB vs. TMSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Sustainability Fixed Income ETF (DFSB) and T. Rowe Price Multi-Sector Income ETF (TMSF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFSB achieves a 0.68% return, which is significantly lower than TMSF's 1.77% return.

DFSB

• 1D: -0.55%
• 1M: 0.33%
• YTD: 0.68%
• 6M: 0.68%
• 1Y: 3.35%
• 3Y*: 4.71%
• 5Y*: —
• 10Y*: —

TMSF

• 1D: -0.05%
• 1M: 0.55%
• YTD: 1.77%
• 6M: 2.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DFSB vs. TMSF - Yearly Performance Comparison

	2026 (YTD)	2025
DFSB Dimensional Global Sustainability Fixed Income ETF	0.68%	0.19%
TMSF T. Rowe Price Multi-Sector Income ETF	1.77%	1.29%

Correlation

The correlation between DFSB and TMSF is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.65

Return for Risk

DFSB vs. TMSF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFSB

DFSB Risk / Return Rank: 24
DFSB Sharpe Ratio Rank: 25
DFSB Sortino Ratio Rank: 24
DFSB Omega Ratio Rank: 22
DFSB Calmar Ratio Rank: 24
DFSB Martin Ratio Rank: 27

TMSF

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DFSB vs. TMSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Sustainability Fixed Income ETF (DFSB) and T. Rowe Price Multi-Sector Income ETF (TMSF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	DFSB	TMSF	Difference
Sharpe ratio: Return per unit of total volatility	0.85	—	—
Sortino ratio: Return per unit of downside risk	1.26	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	1.11	—	—
Martin ratio: Return relative to average drawdown	3.37	—	—

Drawdowns

DFSB vs. TMSF - Drawdown Comparison

The maximum DFSB drawdown since its inception was -5.16%, which is greater than TMSF's maximum drawdown of -2.28%. Use the drawdown chart below to compare losses from any high point for DFSB and TMSF.

Drawdown Indicators

	DFSB	TMSF	Difference
Max Drawdown Largest peak-to-trough decline	-5.16%	-2.28%	-2.88%
Max Drawdown (1Y) Largest decline over 1 year	-3.04%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.37%	—	—
Current Drawdown Current decline from peak	-1.27%	-0.35%	-0.92%
Average Drawdown Average peak-to-trough decline	-1.25%	-0.37%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	—	—

Volatility

Volatility by Period

	DFSB	TMSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.94%	2.93%	+1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.46%	2.93%	+2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.46%	2.93%	+2.53%

DFSB vs. TMSF - Expense Ratio Comparison

DFSB has a 0.24% expense ratio, which is lower than TMSF's 0.37% expense ratio.

Dividends

DFSB vs. TMSF - Dividend Comparison

DFSB's dividend yield for the trailing twelve months is around 3.62%, more than TMSF's 3.06% yield.

Position	TTM	2025	2024	2023	2022
DFSB Dimensional Global Sustainability Fixed Income ETF	3.62%	3.46%	4.35%	5.27%	0.41%
TMSF T. Rowe Price Multi-Sector Income ETF	3.06%	0.75%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFSB and TMSF in my portfolio?

DFSB and TMSF have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFSB or TMSF?

On fees, DFSB is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFSB or TMSF?

DFSB is cheaper with a 0.24% expense ratio, compared with 0.37% for TMSF.

Which ETF pays a higher dividend yield, DFSB or TMSF?

DFSB has the higher dividend yield at 3.62%, compared with 3.06% for TMSF.

What is the main difference between DFSB and TMSF?

DFSB is categorized as Global Bonds, while TMSF is Multisector Bonds. They also come from different issuers: Dimensional and T. Rowe Price. Their fees differ too: 0.24% for DFSB and 0.37% for TMSF.