FCDSX vs. TNBMX
Compare and contrast key facts about Fidelity Series International Credit Fund (FCDSX) and T. Rowe Price International Bond Fund (USD Hedged) (TNBMX).
FCDSX is managed by Fidelity. It was launched on Jul 25, 2017. TNBMX is managed by T. Rowe Price. It was launched on Sep 11, 2017.
Performance
FCDSX vs. TNBMX - Performance Comparison
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FCDSX vs. TNBMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCDSX Fidelity Series International Credit Fund | -0.36% | 7.22% | 8.47% | 7.64% | -17.34% | -0.07% | 8.34% | 13.86% | -1.04% | 1.30% |
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | -0.20% | 6.87% | 3.84% | 10.32% | -12.30% | -1.63% | 5.73% | 10.77% | 1.72% | 1.35% |
Returns By Period
In the year-to-date period, FCDSX achieves a -0.36% return, which is significantly lower than TNBMX's -0.20% return.
FCDSX
- 1D
- 0.12%
- 1M
- -1.98%
- YTD
- -0.36%
- 6M
- 0.67%
- 1Y
- 4.81%
- 3Y*
- 7.28%
- 5Y*
- 0.93%
- 10Y*
- —
TNBMX
- 1D
- 0.24%
- 1M
- -1.97%
- YTD
- -0.20%
- 6M
- 1.34%
- 1Y
- 6.09%
- 3Y*
- 5.79%
- 5Y*
- 1.41%
- 10Y*
- —
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FCDSX vs. TNBMX - Expense Ratio Comparison
FCDSX has a 0.00% expense ratio, which is lower than TNBMX's 0.53% expense ratio.
Return for Risk
FCDSX vs. TNBMX — Risk / Return Rank
FCDSX
TNBMX
FCDSX vs. TNBMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series International Credit Fund (FCDSX) and T. Rowe Price International Bond Fund (USD Hedged) (TNBMX). 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.
| FCDSX | TNBMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.70 | 2.32 | -0.61 |
Sortino ratioReturn per unit of downside risk | 2.39 | 3.57 | -1.19 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.55 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.85 | -1.04 |
Martin ratioReturn relative to average drawdown | 8.01 | 12.61 | -4.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCDSX | TNBMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.70 | 2.32 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.39 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.86 | -0.16 |
Correlation
The correlation between FCDSX and TNBMX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FCDSX vs. TNBMX - Dividend Comparison
FCDSX's dividend yield for the trailing twelve months is around 4.60%, less than TNBMX's 6.71% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCDSX Fidelity Series International Credit Fund | 4.60% | 4.58% | 4.81% | 3.67% | 6.73% | 3.04% | 6.58% | 7.12% | 4.17% | 1.90% |
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 6.71% | 6.29% | 3.15% | 2.85% | 10.20% | 2.84% | 1.90% | 4.65% | 8.20% | 0.64% |
Drawdowns
FCDSX vs. TNBMX - Drawdown Comparison
The maximum FCDSX drawdown since its inception was -22.33%, which is greater than TNBMX's maximum drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for FCDSX and TNBMX.
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Drawdown Indicators
| FCDSX | TNBMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.33% | -15.78% | -6.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.32% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -22.33% | -15.48% | -6.85% |
Current DrawdownCurrent decline from peak | -2.32% | -2.09% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -5.14% | -3.16% | -1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.52% | +0.11% |
Volatility
FCDSX vs. TNBMX - Volatility Comparison
Fidelity Series International Credit Fund (FCDSX) has a higher volatility of 1.29% compared to T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) at 1.15%. This indicates that FCDSX's price experiences larger fluctuations and is considered to be riskier than TNBMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCDSX | TNBMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.15% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | 1.80% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.98% | 2.71% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 3.60% | +0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.14% | 3.33% | +0.81% |