FGBRX vs. TPINX

Last updated Jun 5, 2026

FGBRX (Templeton Global Bond Fund - Class R) and TPINX (Templeton Global Bond Fund) are both Global Bonds funds from Franklin Templeton. Over the past 10 years, FGBRX returned -0.02%/yr vs 0.22%/yr for TPINX. With a 0.99 correlation, they move nearly in lockstep. FGBRX charges 1.24%/yr vs 0.94%/yr for TPINX.

Performance

FGBRX vs. TPINX - Performance Comparison

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

Returns By Period

In the year-to-date period, FGBRX achieves a 1.34% return, which is significantly lower than TPINX's 1.43% return. Over the past 10 years, FGBRX has underperformed TPINX with an annualized return of -0.02%, while TPINX has yielded a comparatively higher 0.22% annualized return.

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%

TPINX

• 1D: -0.70%
• 1M: -0.53%
• YTD: 1.43%
• 6M: 1.49%
• 1Y: 5.59%
• 3Y*: 2.09%
• 5Y*: -1.02%
• 10Y*: 0.22%

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

FGBRX vs. TPINX - 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%
TPINX Templeton Global Bond Fund	1.43%	15.02%	-11.95%	2.45%	-6.17%	-5.06%	-4.41%	0.63%	1.26%	2.36%

Correlation

The correlation between FGBRX and TPINX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Feb 3, 2009	0.99

The correlation between FGBRX and TPINX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

FGBRX vs. TPINX — 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

TPINX

TPINX Risk / Return Rank: 11
TPINX Sharpe Ratio Rank: 11
TPINX Sortino Ratio Rank: 11
TPINX Omega Ratio Rank: 11
TPINX Calmar Ratio Rank: 11
TPINX 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. TPINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Global Bond Fund - Class R (FGBRX) and Templeton Global Bond Fund (TPINX). 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	TPINX	Difference
Sharpe ratio: Return per unit of total volatility	0.80	0.86	-0.06
Sortino ratio: Return per unit of downside risk	1.18	1.26	-0.09
Omega ratio: Gain probability vs. loss probability	1.15	1.16	-0.01
Calmar ratio: Return relative to maximum drawdown	0.91	0.98	-0.06
Martin ratio: Return relative to average drawdown	2.96	3.19	-0.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGBRX vs. TPINX - Sharpe Ratio Comparison

The current FGBRX Sharpe Ratio is 0.80, which is comparable to the TPINX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of FGBRX and TPINX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FGBRX	TPINX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	0.86	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	-0.13	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.00	0.03	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.77	-0.55

Drawdowns

FGBRX vs. TPINX - Drawdown Comparison

The maximum FGBRX drawdown since its inception was -27.46%, roughly equal to the maximum TPINX drawdown of -26.45%. Use the drawdown chart below to compare losses from any high point for FGBRX and TPINX.

Drawdown Indicators

	FGBRX	TPINX	Difference
Max Drawdown Largest peak-to-trough decline	-27.46%	-26.45%	-1.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.38%	-6.36%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-13.09%	-13.03%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-19.15%	-0.72%
Max Drawdown (10Y) Largest decline over 10 years	-27.46%	-26.45%	-1.01%
Current Drawdown Current decline from peak	-15.07%	-13.66%	-1.41%
Average Drawdown Average peak-to-trough decline	-8.36%	-4.84%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	1.94%	+0.02%

Volatility

FGBRX vs. TPINX - Volatility Comparison

Templeton Global Bond Fund - Class R (FGBRX) and Templeton Global Bond Fund (TPINX) have volatilities of 2.20% and 2.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGBRX	TPINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	2.23%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	5.97%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	7.27%	7.25%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.14%	8.13%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.28%	7.27%	+0.01%

FGBRX vs. TPINX - Expense Ratio Comparison

FGBRX has a 1.24% expense ratio, which is higher than TPINX's 0.94% expense ratio.

Dividends

FGBRX vs. TPINX - Dividend Comparison

FGBRX's dividend yield for the trailing twelve months is around 4.83%, less than TPINX's 5.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TPINX Templeton Global Bond Fund	5.06%	4.29%	5.77%	3.87%	5.17%	5.38%	4.59%	6.12%	6.53%	3.34%	2.33%	3.11%

Frequently Asked Questions

Can I hold both FGBRX and TPINX in my portfolio?

With a correlation of 1.00, FGBRX and TPINX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FGBRX or TPINX?

TPINX has higher volatility (2.23%) compared to FGBRX (2.20%). In terms of maximum drawdown, FGBRX dropped -27.46% vs TPINX's -26.45%.

Which has better risk-adjusted returns?

TPINX currently has the higher Sharpe Ratio (0.86 vs 0.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.