PFUIX vs. TNBMX
PFUIX (PIMCO International Bond Fund (Unhedged)) and TNBMX (T. Rowe Price International Bond Fund (USD Hedged)) are both Global Bonds funds. Over the past 5 years, PFUIX returned -2.23%/yr vs 1.44%/yr for TNBMX. At a 0.47 correlation, their price movements are largely independent. PFUIX charges 0.50%/yr vs 0.53%/yr for TNBMX.
Performance
PFUIX vs. TNBMX - Performance Comparison
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Returns By Period
In the year-to-date period, PFUIX achieves a -2.46% return, which is significantly lower than TNBMX's 1.13% return.
PFUIX
- 1D
- -0.27%
- 1M
- -1.13%
- 6M
- -1.83%
- YTD
- -2.46%
- 1Y
- -0.38%
- 3Y*
- 3.08%
- 5Y*
- -2.23%
- 10Y*
- 0.39%
TNBMX
- 1D
- 0.00%
- 1M
- -0.36%
- 6M
- 0.90%
- YTD
- 1.13%
- 1Y
- 4.35%
- 3Y*
- 5.61%
- 5Y*
- 1.44%
- 10Y*
- —
PFUIX vs. TNBMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFUIX PIMCO International Bond Fund (Unhedged) | -2.46% | 10.90% | -1.64% | 6.42% | -19.10% | -6.08% | 12.32% | 7.09% | -3.64% | -0.69% |
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 1.13% | 5.25% | 5.00% | 10.32% | -12.30% | -1.63% | 5.73% | 10.77% | 1.72% | 1.35% |
Correlation
The correlation between PFUIX and TNBMX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2017 | 0.47 |
The correlation between PFUIX and TNBMX has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.
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Return for Risk
PFUIX vs. TNBMX — Risk / Return Rank
PFUIX
TNBMX
PFUIX vs. TNBMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO International Bond Fund (Unhedged) (PFUIX) 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.
| PFUIX | TNBMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.37 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 1.88 | -1.98 |
| Martin ratioReturn relative to average drawdown | -0.25 | 6.72 | -6.97 |
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Drawdowns
PFUIX vs. TNBMX - Drawdown Comparison
The maximum PFUIX drawdown since its inception was -31.90%, which is greater than TNBMX's maximum drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for PFUIX and TNBMX.
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Drawdown Indicators
| PFUIX | TNBMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.90% | -15.78% | -16.12% |
Max Drawdown (1Y)Largest decline over 1 year | -6.40% | -2.32% | -4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -7.45% | -2.32% | -5.13% |
Max Drawdown (5Y)Largest decline over 5 years | -29.65% | -15.48% | -14.17% |
Max Drawdown (10Y)Largest decline over 10 years | -31.90% | — | — |
Current DrawdownCurrent decline from peak | -14.61% | -0.70% | -13.91% |
Average DrawdownAverage peak-to-trough decline | -8.01% | -3.02% | -4.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 0.65% | +1.94% |
Volatility
PFUIX vs. TNBMX - Volatility Comparison
PIMCO International Bond Fund (Unhedged) (PFUIX) has a higher volatility of 1.53% compared to T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) at 0.68%. This indicates that PFUIX'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
| PFUIX | TNBMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 0.68% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 5.96% | 2.24% | +3.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.27% | 2.62% | +4.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.70% | 3.64% | +4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.35% | 3.32% | +4.03% |
PFUIX vs. TNBMX - Expense Ratio Comparison
PFUIX has a 0.50% expense ratio, which is lower than TNBMX's 0.53% expense ratio.
Dividends
PFUIX vs. TNBMX - Dividend Comparison
PFUIX's dividend yield for the trailing twelve months is around 4.06%, less than TNBMX's 5.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFUIX PIMCO International Bond Fund (Unhedged) | 4.06% | 3.98% | 4.10% | 2.98% | 2.83% | 5.07% | 1.57% | 2.28% | 4.39% | 1.41% | 1.98% | 1.94% |
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 5.12% | 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
PFUIX and TNBMX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFUIX has higher volatility (1.53%) compared to TNBMX (0.68%). In terms of maximum drawdown, PFUIX dropped -31.90% vs TNBMX's -15.78%.
TNBMX currently has the higher Sharpe Ratio (1.67 vs -0.09), 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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