PBDIX vs. TRBUX
Compare and contrast key facts about T. Rowe Price QM U.S. Bond Index Fund (PBDIX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX).
PBDIX is managed by T. Rowe Price. TRBUX is managed by T. Rowe Price. It was launched on Dec 3, 2012.
Performance
PBDIX vs. TRBUX - Performance Comparison
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PBDIX vs. TRBUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | -0.12% | 10.63% | 1.96% | 5.47% | -14.24% | -1.45% | 8.17% | 8.69% | -0.01% | 3.83% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 0.65% | 8.98% | 6.48% | 6.99% | -1.28% | 0.22% | 3.11% | 3.60% | 1.88% | 1.83% |
Returns By Period
In the year-to-date period, PBDIX achieves a -0.12% return, which is significantly lower than TRBUX's 0.65% return. Over the past 10 years, PBDIX has underperformed TRBUX with an annualized return of 2.04%, while TRBUX has yielded a comparatively higher 3.34% annualized return.
PBDIX
- 1D
- 0.21%
- 1M
- -1.73%
- YTD
- -0.12%
- 6M
- 1.82%
- 1Y
- 7.20%
- 3Y*
- 4.86%
- 5Y*
- 0.66%
- 10Y*
- 2.04%
TRBUX
- 1D
- 0.00%
- 1M
- -0.20%
- YTD
- 0.65%
- 6M
- 2.99%
- 1Y
- 8.39%
- 3Y*
- 7.01%
- 5Y*
- 4.28%
- 10Y*
- 3.34%
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PBDIX vs. TRBUX - Expense Ratio Comparison
PBDIX has a 0.23% expense ratio, which is lower than TRBUX's 0.31% expense ratio.
Return for Risk
PBDIX vs. TRBUX — Risk / Return Rank
PBDIX
TRBUX
PBDIX vs. TRBUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price QM U.S. Bond Index Fund (PBDIX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). 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.
| PBDIX | TRBUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.66 | 4.39 | -2.73 |
Sortino ratioReturn per unit of downside risk | 2.40 | 13.90 | -11.50 |
Omega ratioGain probability vs. loss probability | 1.30 | 5.56 | -4.26 |
Calmar ratioReturn relative to maximum drawdown | 2.68 | 22.36 | -19.68 |
Martin ratioReturn relative to average drawdown | 8.52 | 68.15 | -59.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PBDIX | TRBUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.66 | 4.39 | -2.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 2.55 | -2.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 2.21 | -1.80 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 1.94 | -1.09 |
Correlation
The correlation between PBDIX and TRBUX is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PBDIX vs. TRBUX - Dividend Comparison
PBDIX's dividend yield for the trailing twelve months is around 7.40%, less than TRBUX's 8.06% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 7.40% | 7.33% | 4.48% | 3.49% | 2.01% | 1.84% | 3.59% | 3.18% | 2.94% | 2.75% | 2.82% | 2.99% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 8.06% | 8.17% | 5.05% | 4.48% | 1.53% | 1.21% | 1.86% | 2.73% | 2.47% | 1.62% | 1.18% | 0.81% |
Drawdowns
PBDIX vs. TRBUX - Drawdown Comparison
The maximum PBDIX drawdown since its inception was -19.20%, which is greater than TRBUX's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for PBDIX and TRBUX.
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Drawdown Indicators
| PBDIX | TRBUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.20% | -4.15% | -15.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -0.39% | -2.55% |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | -2.68% | -16.42% |
Max Drawdown (10Y)Largest decline over 10 years | -19.20% | -4.15% | -15.05% |
Current DrawdownCurrent decline from peak | -2.23% | -0.39% | -1.84% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -0.22% | -2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.13% | +0.80% |
Volatility
PBDIX vs. TRBUX - Volatility Comparison
T. Rowe Price QM U.S. Bond Index Fund (PBDIX) has a higher volatility of 1.69% compared to T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) at 0.20%. This indicates that PBDIX's price experiences larger fluctuations and is considered to be riskier than TRBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBDIX | TRBUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 0.20% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 1.32% | +1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.71% | 2.06% | +2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 1.70% | +4.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 1.52% | +3.46% |