PRSNX vs. FBND
Compare and contrast key facts about T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) and Fidelity Total Bond ETF (FBND).
PRSNX is managed by T. Rowe Price. It was launched on Dec 14, 2008. FBND is an actively managed fund by Fidelity. It was launched on Oct 6, 2014.
Performance
PRSNX vs. FBND - Performance Comparison
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PRSNX vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRSNX T. Rowe Price Global Multi-Sector Bond Fund | -0.32% | 11.12% | 4.27% | 12.77% | -16.27% | 0.40% | 8.16% | 11.94% | 0.45% | 6.47% |
FBND Fidelity Total Bond ETF | 0.12% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
Returns By Period
In the year-to-date period, PRSNX achieves a -0.32% return, which is significantly lower than FBND's 0.12% return. Over the past 10 years, PRSNX has outperformed FBND with an annualized return of 3.91%, while FBND has yielded a comparatively lower 2.78% annualized return.
PRSNX
- 1D
- 0.30%
- 1M
- -1.69%
- YTD
- -0.32%
- 6M
- 2.28%
- 1Y
- 8.28%
- 3Y*
- 7.91%
- 5Y*
- 1.94%
- 10Y*
- 3.91%
FBND
- 1D
- -0.02%
- 1M
- -1.32%
- YTD
- 0.12%
- 6M
- 0.77%
- 1Y
- 4.53%
- 3Y*
- 4.42%
- 5Y*
- 1.01%
- 10Y*
- 2.78%
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PRSNX vs. FBND - Expense Ratio Comparison
PRSNX has a 0.65% expense ratio, which is higher than FBND's 0.36% expense ratio.
Return for Risk
PRSNX vs. FBND — Risk / Return Rank
PRSNX
FBND
PRSNX vs. FBND - 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 Total Bond ETF (FBND). 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.
| PRSNX | FBND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.54 | 1.03 | +1.51 |
Sortino ratioReturn per unit of downside risk | 4.11 | 1.44 | +2.67 |
Omega ratioGain probability vs. loss probability | 1.57 | 1.18 | +0.39 |
Calmar ratioReturn relative to maximum drawdown | 3.84 | 1.69 | +2.15 |
Martin ratioReturn relative to average drawdown | 14.13 | 5.25 | +8.88 |
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
| PRSNX | FBND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 1.03 | +1.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.17 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.96 | 0.46 | +0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.42 | 0.44 | +0.98 |
Correlation
The correlation between PRSNX and FBND is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PRSNX vs. FBND - Dividend Comparison
PRSNX's dividend yield for the trailing twelve months is around 8.95%, more than FBND's 4.73% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRSNX T. Rowe Price Global Multi-Sector Bond Fund | 8.95% | 9.51% | 5.09% | 5.08% | 3.30% | 3.95% | 3.68% | 6.33% | 4.89% | 3.59% | 3.44% | 3.60% |
FBND Fidelity Total Bond ETF | 4.73% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
Drawdowns
PRSNX vs. FBND - Drawdown Comparison
The maximum PRSNX drawdown since its inception was -19.70%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for PRSNX and FBND.
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Drawdown Indicators
| PRSNX | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.70% | -17.25% | -2.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.19% | -2.79% | +0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -19.70% | -17.25% | -2.45% |
Max Drawdown (10Y)Largest decline over 10 years | -19.70% | -17.25% | -2.45% |
Current DrawdownCurrent decline from peak | -1.88% | -1.80% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -2.42% | -3.38% | +0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 0.90% | -0.30% |
Volatility
PRSNX vs. FBND - Volatility Comparison
The current volatility for T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) is 1.15%, while Fidelity Total Bond ETF (FBND) has a volatility of 1.66%. This indicates that PRSNX experiences smaller price fluctuations and is considered to be less risky than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRSNX | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.66% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 2.10% | 2.62% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 4.44% | -1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.27% | 5.90% | -1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.11% | 6.08% | -1.97% |