GOBSX vs. TNBMX
GOBSX (BrandywineGLOBAL - Global Opportunities Bond Fund) and TNBMX (T. Rowe Price International Bond Fund (USD Hedged)) are both Global Bonds funds. Over the past 5 years, GOBSX returned -1.81%/yr vs 1.54%/yr for TNBMX. At a 0.50 correlation, their price movements are largely independent. GOBSX charges 0.56%/yr vs 0.53%/yr for TNBMX.
Performance
GOBSX vs. TNBMX - Performance Comparison
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Returns By Period
In the year-to-date period, GOBSX achieves a 1.63% return, which is significantly higher than TNBMX's 0.97% return.
GOBSX
- 1D
- -0.11%
- 1M
- 1.13%
- YTD
- 1.63%
- 6M
- 1.98%
- 1Y
- 3.70%
- 3Y*
- 2.73%
- 5Y*
- -1.81%
- 10Y*
- 1.25%
TNBMX
- 1D
- -0.23%
- 1M
- 0.70%
- YTD
- 0.97%
- 6M
- 1.64%
- 1Y
- 4.27%
- 3Y*
- 5.71%
- 5Y*
- 1.54%
- 10Y*
- —
GOBSX vs. TNBMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOBSX BrandywineGLOBAL - Global Opportunities Bond Fund | 1.63% | 13.59% | -9.38% | 7.42% | -15.66% | -5.27% | 12.66% | 9.21% | -5.59% | -3.02% |
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 0.97% | 5.25% | 5.00% | 10.32% | -12.30% | -1.63% | 5.73% | 10.77% | 1.72% | 1.35% |
Correlation
The correlation between GOBSX and TNBMX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2017 | 0.50 |
The correlation between GOBSX and TNBMX has been stable across timeframes, ranging from 0.50 to 0.59 - a consistent structural relationship.
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Return for Risk
GOBSX vs. TNBMX — Risk / Return Rank
GOBSX
TNBMX
GOBSX vs. TNBMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL - Global Opportunities Bond Fund (GOBSX) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GOBSX | TNBMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.37 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 1.85 | -1.03 |
| Martin ratioReturn relative to average drawdown | 2.14 | 6.20 | -4.06 |
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Drawdowns
GOBSX vs. TNBMX - Drawdown Comparison
The maximum GOBSX drawdown since its inception was -29.04%, which is greater than TNBMX's maximum drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for GOBSX and TNBMX.
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Drawdown Indicators
| GOBSX | TNBMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.04% | -15.78% | -13.26% |
Max Drawdown (1Y)Largest decline over 1 year | -5.10% | -2.32% | -2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -13.81% | -2.32% | -11.49% |
Max Drawdown (5Y)Largest decline over 5 years | -27.90% | -15.48% | -12.42% |
Max Drawdown (10Y)Largest decline over 10 years | -29.04% | — | — |
Current DrawdownCurrent decline from peak | -10.57% | -0.39% | -10.18% |
Average DrawdownAverage peak-to-trough decline | -6.72% | -3.05% | -3.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 0.69% | +1.26% |
Volatility
GOBSX vs. TNBMX - Volatility Comparison
BrandywineGLOBAL - Global Opportunities Bond Fund (GOBSX) has a higher volatility of 1.61% compared to T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) at 0.75%. This indicates that GOBSX'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
| GOBSX | TNBMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 0.75% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 5.56% | 2.18% | +3.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.04% | 2.58% | +4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.30% | 3.63% | +5.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.50% | 3.32% | +5.18% |
GOBSX vs. TNBMX - Expense Ratio Comparison
GOBSX has a 0.56% expense ratio, which is higher than TNBMX's 0.53% expense ratio.
Dividends
GOBSX vs. TNBMX - Dividend Comparison
GOBSX's dividend yield for the trailing twelve months is around 4.06%, less than TNBMX's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOBSX BrandywineGLOBAL - Global Opportunities Bond Fund | 4.06% | 4.28% | 3.80% | 0.09% | 6.70% | 2.30% | 0.31% | 1.56% | 3.15% | 3.68% | 1.87% | 2.61% |
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 4.78% | 4.76% | 4.24% | 2.85% | 10.20% | 2.84% | 1.90% | 4.65% | 8.20% | 0.64% | 0.00% | 0.00% |
Frequently Asked Questions
GOBSX and TNBMX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOBSX has higher volatility (1.61%) compared to TNBMX (0.75%). In terms of maximum drawdown, GOBSX dropped -29.04% vs TNBMX's -15.78%.
TNBMX currently has the higher Sharpe Ratio (1.66 vs 0.60), 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.
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