FGBYX vs. PRSNX

Last updated Jun 5, 2026

FGBYX (Fidelity Advisor Global Credit Fund Class C) and PRSNX (T. Rowe Price Global Multi-Sector Bond Fund) are both Global Bonds funds. A 0.58 correlation means they provide meaningful diversification when combined. FGBYX charges 1.70%/yr vs 0.65%/yr for PRSNX.

Performance

FGBYX vs. PRSNX - Performance Comparison

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

Returns By Period

FGBYX

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

PRSNX

• 1D: -0.10%
• 1M: 0.69%
• YTD: 1.72%
• 6M: 2.83%
• 1Y: 7.52%
• 3Y*: 8.26%
• 5Y*: 2.06%
• 10Y*: 3.89%

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

FGBYX vs. PRSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGBYX Fidelity Advisor Global Credit Fund Class C	0.00%	6.94%	7.36%	5.92%	-20.47%	-1.50%	7.23%	13.34%	-3.63%	7.71%
PRSNX T. Rowe Price Global Multi-Sector Bond Fund	1.72%	9.31%	5.60%	12.77%	-16.27%	0.40%	8.16%	11.94%	0.45%	6.47%

Correlation

The correlation between FGBYX and PRSNX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since May 24, 2012	0.58

Over the past year, the correlation between FGBYX and PRSNX has dropped to 0.34 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

Return for Risk

FGBYX 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: 86
PRSNX Sharpe Ratio Rank: 82
PRSNX Sortino Ratio Rank: 94
PRSNX Omega Ratio Rank: 89
PRSNX Calmar Ratio Rank: 79
PRSNX Martin Ratio Rank: 85

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.

FGBYX vs. PRSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Global Credit Fund Class C (FGBYX) 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

	FGBYX	PRSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.69	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.48	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.43	—

Drawdowns

Drawdown Indicators

	FGBYX	PRSNX	Difference
Max Drawdown Largest peak-to-trough decline	—	-19.70%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.18%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.87%	—
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	—	-0.20%	—
Average Drawdown Average peak-to-trough decline	—	-2.36%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.48%	—

Volatility

Volatility by Period

	FGBYX	PRSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.88%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.30%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.13%	—

FGBYX vs. PRSNX - Expense Ratio Comparison

FGBYX has a 1.70% expense ratio, which is higher than PRSNX's 0.65% expense ratio.

Dividends

FGBYX vs. PRSNX - Dividend Comparison

FGBYX's dividend yield for the trailing twelve months is around 1.39%, less than PRSNX's 6.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGBYX Fidelity Advisor Global Credit Fund Class C	1.39%	2.35%	2.71%	2.71%	5.37%	1.53%	2.76%	2.71%	1.47%	1.00%	2.13%	1.66%
PRSNX T. Rowe Price Global Multi-Sector Bond Fund	6.64%	7.87%	6.36%	5.08%	3.30%	3.95%	3.68%	6.33%	4.89%	3.59%	3.44%	3.60%

Frequently Asked Questions

Can I hold both FGBYX and PRSNX in my portfolio?

FGBYX and PRSNX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.