PRSNX vs. VFIAX

Last updated Jun 23, 2026

PRSNX (T. Rowe Price Global Multi-Sector Bond Fund) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both mutual funds - PRSNX is a Global Bonds fund managed by T. Rowe Price, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, PRSNX returned 3.90%/yr vs 15.54%/yr for VFIAX. At a 0.15 correlation, their price movements are largely independent. PRSNX charges 0.65%/yr vs 0.04%/yr for VFIAX.

Performance

PRSNX vs. VFIAX - 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 Vanguard 500 Index Fund Admiral Shares (VFIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRSNX achieves a 1.92% return, which is significantly lower than VFIAX's 10.17% return. Over the past 10 years, PRSNX has underperformed VFIAX with an annualized return of 3.90%, while VFIAX has yielded a comparatively higher 15.54% annualized 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%

VFIAX

• 1D: 1.09%
• 1M: 0.46%
• YTD: 10.17%
• 6M: 9.67%
• 1Y: 27.15%
• 3Y*: 20.95%
• 5Y*: 14.06%
• 10Y*: 15.54%

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

PRSNX vs. VFIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	0.45%	6.47%
VFIAX Vanguard 500 Index Fund Admiral Shares	10.17%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-4.45%	21.78%

Correlation

The correlation between PRSNX and VFIAX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Dec 16, 2008	0.15

The correlation between PRSNX and VFIAX shifts across timeframes, from 0.14 (10 years) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PRSNX vs. VFIAX — Risk / Return Rank

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

PRSNX

PRSNX Risk / Return Rank: 91
PRSNX Sharpe Ratio Rank: 91
PRSNX Sortino Ratio Rank: 96
PRSNX Omega Ratio Rank: 93
PRSNX Calmar Ratio Rank: 83
PRSNX Martin Ratio Rank: 90

VFIAX

VFIAX Risk / Return Rank: 66
VFIAX Sharpe Ratio Rank: 64
VFIAX Sortino Ratio Rank: 58
VFIAX Omega Ratio Rank: 61
VFIAX Calmar Ratio Rank: 68
VFIAX Martin Ratio Rank: 79

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. VFIAX - 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 Vanguard 500 Index Fund Admiral Shares (VFIAX). 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	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.80	2.17	+0.63
Sortino ratio: Return per unit of downside risk	5.05	2.93	+2.13
Omega ratio: Gain probability vs. loss probability	1.69	1.39	+0.30
Calmar ratio: Return relative to maximum drawdown	3.66	3.03	+0.62
Martin ratio: Return relative to average drawdown	16.33	13.72	+2.62

PRSNX vs. VFIAX - Sharpe Ratio Comparison

The current PRSNX Sharpe Ratio is 2.80, which is comparable to the VFIAX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of PRSNX and VFIAX, 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. VFIAX - Drawdown Comparison

The maximum PRSNX drawdown since its inception was -19.70%, smaller than the maximum VFIAX drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for PRSNX and VFIAX.

Drawdown Indicators

	PRSNX	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.70%	-55.20%	+35.50%
Max Drawdown (1Y) Largest decline over 1 year	-2.18%	-8.90%	+6.72%
Max Drawdown (3Y) Largest decline over 3 years	-2.87%	-18.75%	+15.88%
Max Drawdown (5Y) Largest decline over 5 years	-19.70%	-24.53%	+4.83%
Max Drawdown (10Y) Largest decline over 10 years	-19.70%	-33.83%	+14.13%
Current Drawdown Current decline from peak	0.00%	-1.36%	+1.36%
Average Drawdown Average peak-to-trough decline	-2.35%	-9.38%	+7.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	1.96%	-1.48%

Volatility

PRSNX vs. VFIAX - Volatility Comparison

The current volatility for T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) is 0.68%, while Vanguard 500 Index Fund Admiral Shares (VFIAX) has a volatility of 4.77%. This indicates that PRSNX experiences smaller price fluctuations and is considered to be less risky than VFIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRSNX	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	4.77%	-4.09%
Volatility (6M) Calculated over the trailing 6-month period	2.30%	9.91%	-7.61%
Volatility (1Y) Calculated over the trailing 1-year period	2.85%	12.47%	-9.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.30%	17.00%	-12.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.13%	18.11%	-13.98%

PRSNX vs. VFIAX - Expense Ratio Comparison

PRSNX has a 0.65% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

PRSNX vs. VFIAX - Dividend Comparison

PRSNX's dividend yield for the trailing twelve months is around 6.63%, more than VFIAX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VFIAX Vanguard 500 Index Fund Admiral Shares	1.03%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both PRSNX and VFIAX in my portfolio?

PRSNX and VFIAX have a correlation of 0.28, 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 VFIAX?

VFIAX has higher volatility (4.77%) compared to PRSNX (0.68%). In terms of maximum drawdown, PRSNX dropped -19.70% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

PRSNX currently has the higher Sharpe Ratio (2.80 vs 2.17), 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.