RGBFX vs. MSTGX

Last updated Jul 3, 2026

RGBFX (American Funds Global Balanced Fund Class R5) and MSTGX (Morningstar Global Income Fund) are both Global Allocation funds. Over the past 5 years, RGBFX returned 5.95%/yr vs 4.38%/yr for MSTGX. Their correlation of 0.85 suggests significant overlap in exposure. RGBFX charges 0.53%/yr vs 0.62%/yr for MSTGX.

Performance

RGBFX vs. MSTGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Global Balanced Fund Class R5 (RGBFX) and Morningstar Global Income Fund (MSTGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with RGBFX at 5.72% and MSTGX at 5.72%.

RGBFX

• 1D: -0.31%
• 1M: -1.29%
• 6M: 5.72%
• YTD: 5.72%
• 1Y: 13.03%
• 3Y*: 11.98%
• 5Y*: 5.95%
• 10Y*: 7.14%

MSTGX

• 1D: -0.29%
• 1M: -0.69%
• 6M: 5.72%
• YTD: 5.72%
• 1Y: 8.71%
• 3Y*: 9.79%
• 5Y*: 4.38%
• 10Y*: —

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

RGBFX vs. MSTGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
RGBFX American Funds Global Balanced Fund Class R5	5.72%	17.44%	6.86%	14.06%	-14.01%	9.50%	10.80%	17.55%	-2.06%
MSTGX Morningstar Global Income Fund	5.72%	12.04%	5.36%	11.91%	-11.18%	8.46%	3.92%	19.97%	-3.56%

Correlation

The correlation between RGBFX and MSTGX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Nov 5, 2018	0.85

Over the past year, the correlation between RGBFX and MSTGX has dropped to 0.60 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

RGBFX vs. MSTGX — Risk / Return Rank

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

RGBFX

RGBFX Risk / Return Rank: 46
RGBFX Sharpe Ratio Rank: 45
RGBFX Sortino Ratio Rank: 45
RGBFX Omega Ratio Rank: 47
RGBFX Calmar Ratio Rank: 41
RGBFX Martin Ratio Rank: 50

MSTGX

MSTGX Risk / Return Rank: 56
MSTGX Sharpe Ratio Rank: 55
MSTGX Sortino Ratio Rank: 61
MSTGX Omega Ratio Rank: 54
MSTGX Calmar Ratio Rank: 63
MSTGX Martin Ratio Rank: 46

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.

RGBFX vs. MSTGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Global Balanced Fund Class R5 (RGBFX) and Morningstar Global Income Fund (MSTGX). 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.

	RGBFX	MSTGX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.72	-0.18
Sortino ratio: Return per unit of downside risk	2.21	2.55	-0.34
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	1.97	2.53	-0.56
Martin ratio: Return relative to average drawdown	8.32	7.98	+0.34

RGBFX vs. MSTGX - Sharpe Ratio Comparison

The current RGBFX Sharpe Ratio is 1.54, which is comparable to the MSTGX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of RGBFX and MSTGX, 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

RGBFX vs. MSTGX - Drawdown Comparison

The maximum RGBFX drawdown since its inception was -23.31%, smaller than the maximum MSTGX drawdown of -27.52%. Use the drawdown chart below to compare losses from any high point for RGBFX and MSTGX.

Drawdown Indicators

	RGBFX	MSTGX	Difference
Max Drawdown Largest peak-to-trough decline	-23.31%	-27.52%	+4.21%
Max Drawdown (1Y) Largest decline over 1 year	-6.73%	-4.38%	-2.35%
Max Drawdown (3Y) Largest decline over 3 years	-8.76%	-6.56%	-2.20%
Max Drawdown (5Y) Largest decline over 5 years	-22.33%	-19.64%	-2.69%
Max Drawdown (10Y) Largest decline over 10 years	-23.31%	—	—
Current Drawdown Current decline from peak	-1.29%	-1.47%	+0.18%
Average Drawdown Average peak-to-trough decline	-3.39%	-4.30%	+0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.26%	+0.33%

Volatility

RGBFX vs. MSTGX - Volatility Comparison

American Funds Global Balanced Fund Class R5 (RGBFX) has a higher volatility of 3.17% compared to Morningstar Global Income Fund (MSTGX) at 1.71%. This indicates that RGBFX's price experiences larger fluctuations and is considered to be riskier than MSTGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RGBFX	MSTGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	1.71%	+1.46%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	4.87%	+2.42%
Volatility (1Y) Calculated over the trailing 1-year period	8.59%	6.44%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.98%	8.13%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.39%	10.80%	-0.41%

RGBFX vs. MSTGX - Expense Ratio Comparison

RGBFX has a 0.53% expense ratio, which is lower than MSTGX's 0.62% expense ratio.

Dividends

RGBFX vs. MSTGX - Dividend Comparison

RGBFX's dividend yield for the trailing twelve months is around 6.13%, more than MSTGX's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSTGX Morningstar Global Income Fund	3.87%	2.97%	6.64%	6.32%	8.79%	10.48%	2.96%	4.11%	0.56%	0.00%	0.00%	0.00%
RGBFX American Funds Global Balanced Fund Class R5	6.13%	6.59%	5.82%	1.88%	1.82%	6.32%	1.50%	2.13%	2.59%	3.42%	2.26%	3.54%

Frequently Asked Questions

Can I hold both RGBFX and MSTGX in my portfolio?

RGBFX and MSTGX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RGBFX or MSTGX?

RGBFX has higher volatility (3.17%) compared to MSTGX (1.71%). In terms of maximum drawdown, RGBFX dropped -23.31% vs MSTGX's -27.52%.

Which has better risk-adjusted returns?

MSTGX currently has the higher Sharpe Ratio (1.72 vs 1.54), 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.