FGBRX vs. FGBFX

Last updated Jun 5, 2026

FGBRX (Templeton Global Bond Fund - Class R) and FGBFX (Fidelity Global Credit Fund) are both Global Bonds funds. At a 0.10 correlation, their price movements are largely independent. FGBRX charges 1.24%/yr vs 0.70%/yr for FGBFX.

Performance

FGBRX vs. FGBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Templeton Global Bond Fund - Class R (FGBRX) and Fidelity Global Credit Fund (FGBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FGBRX

• 1D: -0.70%
• 1M: -0.55%
• YTD: 1.34%
• 6M: 1.39%
• 1Y: 5.35%
• 3Y*: 1.86%
• 5Y*: -1.25%
• 10Y*: -0.02%

FGBFX

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

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

FGBRX vs. FGBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGBRX Templeton Global Bond Fund - Class R	1.34%	14.81%	-12.18%	2.18%	-6.40%	-5.30%	-4.65%	0.38%	1.01%	2.10%
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%

Correlation

The correlation between FGBRX and FGBFX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since May 24, 2012	0.10

Over the past year, FGBRX and FGBFX have become more correlated (0.31) than their long-term average of 0.10, meaning their price movements have been converging.

Return for Risk

FGBRX vs. FGBFX — Risk / Return Rank

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

FGBRX

FGBRX Risk / Return Rank: 10
FGBRX Sharpe Ratio Rank: 11
FGBRX Sortino Ratio Rank: 10
FGBRX Omega Ratio Rank: 10
FGBRX Calmar Ratio Rank: 10
FGBRX Martin Ratio Rank: 11

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.

FGBRX vs. FGBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Global Bond Fund - Class R (FGBRX) and Fidelity Global Credit Fund (FGBFX). 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.

	FGBRX	FGBFX	Difference
Sharpe ratio: Return per unit of total volatility	0.80	—	—
Sortino ratio: Return per unit of downside risk	1.18	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	0.91	—	—
Martin ratio: Return relative to average drawdown	2.96	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FGBRX	FGBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	—	—

Drawdowns

Drawdown Indicators

	FGBRX	FGBFX	Difference
Max Drawdown Largest peak-to-trough decline	-27.46%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.38%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.09%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-27.46%	—	—
Current Drawdown Current decline from peak	-15.07%	—	—
Average Drawdown Average peak-to-trough decline	-8.36%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	—	—

Volatility

Volatility by Period

	FGBRX	FGBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.27%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.14%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.28%	—	—

FGBRX vs. FGBFX - Expense Ratio Comparison

FGBRX has a 1.24% expense ratio, which is higher than FGBFX's 0.70% expense ratio.

Dividends

FGBRX vs. FGBFX - Dividend Comparison

FGBRX's dividend yield for the trailing twelve months is around 4.83%, more than FGBFX's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGBFX Fidelity Global Credit Fund	1.86%	3.04%	3.68%	3.69%	6.53%	2.53%	3.69%	3.73%	2.67%	1.98%	2.98%	2.72%
FGBRX Templeton Global Bond Fund - Class R	4.83%	4.10%	5.49%	3.61%	4.92%	5.11%	4.34%	5.86%	6.27%	3.08%	2.10%	2.85%

Frequently Asked Questions

Can I hold both FGBRX and FGBFX in my portfolio?

FGBRX and FGBFX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.