PRSNX vs. DFGBX

Last updated Jun 24, 2026

PRSNX (T. Rowe Price Global Multi-Sector Bond Fund) and DFGBX (DFA Five Year Global Fixed Income Portfolio) are both Global Bonds funds. Over the past 10 years, PRSNX returned 3.87%/yr vs 1.26%/yr for DFGBX. At a 0.39 correlation, their price movements are largely independent. PRSNX charges 0.65%/yr vs 0.23%/yr for DFGBX.

Performance

PRSNX vs. DFGBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) and DFA Five Year Global Fixed Income Portfolio (DFGBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRSNX achieves a 1.72% return, which is significantly higher than DFGBX's 1.55% return. Over the past 10 years, PRSNX has outperformed DFGBX with an annualized return of 3.87%, while DFGBX has yielded a comparatively lower 1.26% annualized return.

PRSNX

• 1D: -0.20%
• 1M: 0.69%
• YTD: 1.72%
• 6M: 3.14%
• 1Y: 7.41%
• 3Y*: 8.03%
• 5Y*: 2.13%
• 10Y*: 3.87%

DFGBX

• 1D: 0.00%
• 1M: 0.60%
• YTD: 1.55%
• 6M: 1.65%
• 1Y: 2.58%
• 3Y*: 4.30%
• 5Y*: 1.36%
• 10Y*: 1.26%

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

PRSNX vs. DFGBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
DFGBX DFA Five Year Global Fixed Income Portfolio	1.55%	3.13%	5.37%	5.00%	-6.63%	-1.03%	1.52%	4.04%	1.68%	0.88%

Correlation

The correlation between PRSNX and DFGBX 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	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Dec 16, 2008	0.39

The correlation between PRSNX and DFGBX shifts across timeframes, from 0.19 (3 years) to 0.53 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PRSNX vs. DFGBX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRSNX

PRSNX Risk / Return Rank: 89
PRSNX Sharpe Ratio Rank: 88
PRSNX Sortino Ratio Rank: 95
PRSNX Omega Ratio Rank: 92
PRSNX Calmar Ratio Rank: 81
PRSNX Martin Ratio Rank: 88

DFGBX

DFGBX Risk / Return Rank: 32
DFGBX Sharpe Ratio Rank: 27
DFGBX Sortino Ratio Rank: 20
DFGBX Omega Ratio Rank: 62
DFGBX Calmar Ratio Rank: 29
DFGBX Martin Ratio Rank: 23

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.

PRSNX vs. DFGBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) and DFA Five Year Global Fixed Income Portfolio (DFGBX). 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.

	PRSNX	DFGBX	Difference
Sharpe ratio: Return per unit of total volatility	2.67	1.38	+1.29
Sortino ratio: Return per unit of downside risk	4.81	1.74	+3.07
Omega ratio: Gain probability vs. loss probability	1.65	1.40	+0.25
Calmar ratio: Return relative to maximum drawdown	3.50	1.90	+1.61
Martin ratio: Return relative to average drawdown	15.65	5.14	+10.50

PRSNX vs. DFGBX - Sharpe Ratio Comparison

The current PRSNX Sharpe Ratio is 2.67, which is higher than the DFGBX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of PRSNX and DFGBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PRSNX vs. DFGBX - Drawdown Comparison

The maximum PRSNX drawdown since its inception was -19.70%, which is greater than DFGBX's maximum drawdown of -9.63%. Use the drawdown chart below to compare losses from any high point for PRSNX and DFGBX.

Drawdown Indicators

	PRSNX	DFGBX	Difference
Max Drawdown Largest peak-to-trough decline	-19.70%	-9.63%	-10.07%
Max Drawdown (1Y) Largest decline over 1 year	-2.18%	-1.38%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-2.87%	-1.67%	-1.20%
Max Drawdown (5Y) Largest decline over 5 years	-19.70%	-9.63%	-10.07%
Max Drawdown (10Y) Largest decline over 10 years	-19.70%	-9.63%	-10.07%
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-2.35%	-0.93%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.50%	-0.02%

Volatility

PRSNX vs. DFGBX - Volatility Comparison

T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) has a higher volatility of 0.72% compared to DFA Five Year Global Fixed Income Portfolio (DFGBX) at 0.44%. This indicates that PRSNX's price experiences larger fluctuations and is considered to be riskier than DFGBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRSNX	DFGBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	0.44%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	2.30%	1.32%	+0.98%
Volatility (1Y) Calculated over the trailing 1-year period	2.86%	1.90%	+0.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.30%	2.19%	+2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.13%	1.93%	+2.20%

PRSNX vs. DFGBX - Expense Ratio Comparison

PRSNX has a 0.65% expense ratio, which is higher than DFGBX's 0.23% expense ratio.

Dividends

PRSNX vs. DFGBX - Dividend Comparison

PRSNX's dividend yield for the trailing twelve months is around 6.64%, more than DFGBX's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGBX DFA Five Year Global Fixed Income Portfolio	3.42%	2.91%	4.69%	3.61%	1.63%	0.73%	0.03%	2.30%	4.74%	0.89%	1.16%	1.72%
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 PRSNX and DFGBX in my portfolio?

PRSNX and DFGBX 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.

Which is riskier, PRSNX or DFGBX?

PRSNX has higher volatility (0.72%) compared to DFGBX (0.44%). In terms of maximum drawdown, PRSNX dropped -19.70% vs DFGBX's -9.63%.

Which has better risk-adjusted returns?

PRSNX currently has the higher Sharpe Ratio (2.67 vs 1.38), 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.