FGBFX vs. PRSNX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Global Credit Fund (FGBFX) and T. Rowe Price Global Multi-Sector Bond Fund (PRSNX).

FGBFX is managed by Fidelity. It was launched on May 22, 2012. PRSNX is managed by T. Rowe Price. It was launched on Dec 14, 2008.

Performance

FGBFX vs. PRSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Global Credit Fund (FGBFX) and T. Rowe Price Global Multi-Sector Bond Fund (PRSNX). The values are adjusted to include any dividend payments, if applicable.

FGBFX vs. PRSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGBFX Fidelity Global Credit Fund	0.00%	7.82%	8.41%	7.14%	-19.74%	-0.53%	8.25%	14.65%	-2.82%	8.90%
PRSNX T. Rowe Price Global Multi-Sector Bond Fund	-0.32%	11.12%	4.27%	12.77%	-16.27%	0.40%	8.16%	11.94%	0.45%	6.47%

Returns By Period

FGBFX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PRSNX

• 1D: 0.30%
• 1M: -1.69%
• YTD: -0.32%
• 6M: 2.28%
• 1Y: 8.28%
• 3Y*: 7.91%
• 5Y*: 1.94%
• 10Y*: 3.91%

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

FGBFX vs. PRSNX - Expense Ratio Comparison

FGBFX has a 0.70% expense ratio, which is higher than PRSNX's 0.65% expense ratio.

FGBFX

Fidelity Global Credit Fund

PRSNX

T. Rowe Price Global Multi-Sector Bond Fund

Return for Risk

FGBFX vs. PRSNX — Risk / Return Rank

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

PRSNX

PRSNX Risk / Return Rank: 96
PRSNX Sharpe Ratio Rank: 97
PRSNX Sortino Ratio Rank: 97
PRSNX Omega Ratio Rank: 96
PRSNX Calmar Ratio Rank: 96
PRSNX Martin Ratio Rank: 96

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.

FGBFX vs. PRSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Credit Fund (FGBFX) and T. Rowe Price Global Multi-Sector Bond Fund (PRSNX). 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.

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

Sharpe Ratios by Period

	FGBFX	PRSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.54	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.96	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.42	—

Correlation

The correlation between FGBFX and PRSNX is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FGBFX vs. PRSNX - Dividend Comparison

FGBFX's dividend yield for the trailing twelve months is around 3.04%, less than PRSNX's 8.95% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGBFX Fidelity Global Credit Fund	3.04%	3.04%	3.68%	3.69%	6.53%	2.53%	3.69%	3.73%	2.67%	1.98%	2.98%	2.72%
PRSNX T. Rowe Price Global Multi-Sector Bond Fund	8.95%	9.51%	5.09%	5.08%	3.30%	3.95%	3.68%	6.33%	4.89%	3.59%	3.44%	3.60%

Drawdowns

Drawdown Indicators

	FGBFX	PRSNX	Difference
Max Drawdown Largest peak-to-trough decline	—	-19.70%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.19%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.70%	—
Current Drawdown Current decline from peak	—	-1.88%	—
Average Drawdown Average peak-to-trough decline	—	-2.42%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.60%	—

Volatility

Volatility by Period

	FGBFX	PRSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.43%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.27%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.11%	—