PRSNX vs. EAIIX
PRSNX (T. Rowe Price Global Multi-Sector Bond Fund) and EAIIX (Eaton Vance Global Bond Fund) are both Global Bonds funds. Over the past 10 years, PRSNX returned 3.87%/yr vs 2.74%/yr for EAIIX. At a 0.44 correlation, their price movements are largely independent. PRSNX charges 0.65%/yr vs 1.02%/yr for EAIIX.
Performance
PRSNX vs. EAIIX - Performance Comparison
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Returns By Period
In the year-to-date period, PRSNX achieves a 1.72% return, which is significantly lower than EAIIX's 3.45% return. Over the past 10 years, PRSNX has outperformed EAIIX with an annualized return of 3.87%, while EAIIX has yielded a comparatively lower 2.74% 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%
EAIIX
- 1D
- 0.00%
- 1M
- -0.08%
- YTD
- 3.45%
- 6M
- 3.74%
- 1Y
- 9.27%
- 3Y*
- 6.28%
- 5Y*
- 1.29%
- 10Y*
- 2.74%
PRSNX vs. EAIIX - 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% |
EAIIX Eaton Vance Global Bond Fund | 3.45% | 13.67% | -2.81% | 8.45% | -11.29% | -5.71% | 9.33% | 6.09% | -2.67% | 10.58% |
Correlation
The correlation between PRSNX and EAIIX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
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 | 0.44 |
The correlation between PRSNX and EAIIX shifts across timeframes, from 0.26 (1 year) to 0.57 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRSNX vs. EAIIX — Risk / Return Rank
PRSNX
EAIIX
PRSNX vs. EAIIX - 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 Eaton Vance Global Bond Fund (EAIIX). 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 | EAIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.62 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 4.07 | -0.57 |
| Martin ratioReturn relative to average drawdown | 15.65 | 14.95 | +0.69 |
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Drawdowns
PRSNX vs. EAIIX - Drawdown Comparison
The maximum PRSNX drawdown since its inception was -19.70%, smaller than the maximum EAIIX drawdown of -25.32%. Use the drawdown chart below to compare losses from any high point for PRSNX and EAIIX.
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Drawdown Indicators
| PRSNX | EAIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.70% | -25.32% | +5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | -2.33% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -2.87% | -8.35% | +5.48% |
Max Drawdown (5Y)Largest decline over 5 years | -19.70% | -23.13% | +3.43% |
Max Drawdown (10Y)Largest decline over 10 years | -19.70% | -25.32% | +5.62% |
Current DrawdownCurrent decline from peak | -0.20% | -0.80% | +0.60% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -5.03% | +2.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.63% | -0.15% |
Volatility
PRSNX vs. EAIIX - Volatility Comparison
The current volatility for T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) is 0.72%, while Eaton Vance Global Bond Fund (EAIIX) has a volatility of 0.91%. This indicates that PRSNX experiences smaller price fluctuations and is considered to be less risky than EAIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRSNX | EAIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 0.91% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.30% | 2.51% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.86% | 3.20% | -0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.30% | 6.54% | -2.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 5.51% | -1.38% |
PRSNX vs. EAIIX - Expense Ratio Comparison
PRSNX has a 0.65% expense ratio, which is lower than EAIIX's 1.02% expense ratio.
Dividends
PRSNX vs. EAIIX - Dividend Comparison
PRSNX's dividend yield for the trailing twelve months is around 6.64%, less than EAIIX's 8.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EAIIX Eaton Vance Global Bond Fund | 8.77% | 7.44% | 4.80% | 4.42% | 4.54% | 5.37% | 6.13% | 5.69% | 4.70% | 4.43% | 5.53% | 5.89% |
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
PRSNX and EAIIX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EAIIX has higher volatility (0.91%) compared to PRSNX (0.72%). In terms of maximum drawdown, PRSNX dropped -19.70% vs EAIIX's -25.32%.
EAIIX currently has the higher Sharpe Ratio (2.97 vs 2.67), 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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