PRSNX vs. FADMX
PRSNX (T. Rowe Price Global Multi-Sector Bond Fund) and FADMX (Fidelity Strategic Income Fund) are both mutual funds - PRSNX is a Global Bonds fund managed by T. Rowe Price, while FADMX is a Total Bond Market fund managed by Fidelity. Over the past 5 years, PRSNX returned 2.16%/yr vs 3.26%/yr for FADMX. A 0.69 correlation means they provide meaningful diversification when combined. PRSNX charges 0.65%/yr vs 0.66%/yr for FADMX.
Performance
PRSNX vs. FADMX - Performance Comparison
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Returns By Period
In the year-to-date period, PRSNX achieves a 1.92% return, which is significantly lower than FADMX's 3.46% return.
PRSNX
- 1D
- 0.00%
- 1M
- 0.89%
- YTD
- 1.92%
- 6M
- 3.45%
- 1Y
- 7.63%
- 3Y*
- 8.03%
- 5Y*
- 2.16%
- 10Y*
- 3.90%
FADMX
- 1D
- 0.33%
- 1M
- 1.42%
- YTD
- 3.46%
- 6M
- 3.95%
- 1Y
- 9.63%
- 3Y*
- 8.14%
- 5Y*
- 3.26%
- 10Y*
- —
PRSNX vs. FADMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PRSNX T. Rowe Price Global Multi-Sector Bond Fund | 1.92% | 9.31% | 5.60% | 12.77% | -16.27% | 0.40% | 8.16% | 11.94% | 0.92% |
FADMX Fidelity Strategic Income Fund | 3.46% | 9.01% | 6.02% | 9.55% | -11.84% | 3.46% | 6.72% | 11.06% | -2.02% |
Correlation
The correlation between PRSNX and FADMX is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2018 | 0.69 |
The correlation between PRSNX and FADMX shifts across timeframes, from 0.52 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRSNX vs. FADMX — Risk / Return Rank
PRSNX
FADMX
PRSNX vs. FADMX - 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 Fidelity Strategic Income Fund (FADMX). 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 | FADMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.56 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 3.69 | -0.04 |
| Martin ratioReturn relative to average drawdown | 16.33 | 16.01 | +0.32 |
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Drawdowns
PRSNX vs. FADMX - Drawdown Comparison
The maximum PRSNX drawdown since its inception was -19.70%, which is greater than FADMX's maximum drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for PRSNX and FADMX.
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Drawdown Indicators
| PRSNX | FADMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.70% | -15.98% | -3.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | -2.62% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -2.87% | -3.99% | +1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -19.70% | -15.98% | -3.72% |
Max Drawdown (10Y)Largest decline over 10 years | -19.70% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -3.05% | +0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.60% | -0.12% |
Volatility
PRSNX vs. FADMX - Volatility Comparison
The current volatility for T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) is 0.68%, while Fidelity Strategic Income Fund (FADMX) has a volatility of 1.41%. This indicates that PRSNX experiences smaller price fluctuations and is considered to be less risky than FADMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRSNX | FADMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 1.41% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 2.30% | 3.08% | -0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.85% | 3.63% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.30% | 4.54% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 4.77% | -0.64% |
PRSNX vs. FADMX - Expense Ratio Comparison
PRSNX has a 0.65% expense ratio, which is lower than FADMX's 0.66% expense ratio.
Dividends
PRSNX vs. FADMX - Dividend Comparison
PRSNX's dividend yield for the trailing twelve months is around 6.63%, more than FADMX's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FADMX Fidelity Strategic Income Fund | 4.28% | 4.33% | 4.16% | 4.31% | 2.91% | 4.23% | 3.82% | 4.34% | 2.74% | 0.00% | 0.00% | 0.00% |
PRSNX T. Rowe Price Global Multi-Sector Bond Fund | 6.63% | 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 FADMX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FADMX has higher volatility (1.41%) compared to PRSNX (0.68%). In terms of maximum drawdown, PRSNX dropped -19.70% vs FADMX's -15.98%.
PRSNX currently has the higher Sharpe Ratio (2.80 vs 2.66), 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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