RMHYX vs. PRSNX

Last updated Jun 4, 2026

RMHYX (Russell Investments Multifactor Bond Fund) and PRSNX (T. Rowe Price Global Multi-Sector Bond Fund) are both Global Bonds funds. Over the past 5 years, RMHYX returned -0.48%/yr vs 2.12%/yr for PRSNX. A 0.64 correlation means they provide meaningful diversification when combined. RMHYX charges 0.26%/yr vs 0.65%/yr for PRSNX.

Performance

RMHYX vs. PRSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Russell Investments Multifactor Bond Fund (RMHYX) and T. Rowe Price Global Multi-Sector Bond Fund (PRSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMHYX achieves a -0.12% return, which is significantly lower than PRSNX's 1.82% return.

RMHYX

• 1D: 0.22%
• 1M: 0.87%
• YTD: -0.12%
• 6M: -0.78%
• 1Y: 5.66%
• 3Y*: 2.73%
• 5Y*: -0.48%
• 10Y*: —

PRSNX

• 1D: 0.00%
• 1M: 0.69%
• YTD: 1.82%
• 6M: 3.04%
• 1Y: 7.63%
• 3Y*: 8.29%
• 5Y*: 2.12%
• 10Y*: 3.90%

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

RMHYX vs. PRSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RMHYX Russell Investments Multifactor Bond Fund	-0.12%	7.48%	-2.99%	6.66%	-12.55%	-1.53%	4.68%	0.05%
PRSNX T. Rowe Price Global Multi-Sector Bond Fund	1.82%	9.31%	5.60%	12.77%	-16.27%	0.40%	8.16%	2.93%

Correlation

The correlation between RMHYX and PRSNX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Nov 14, 2019	0.64

Over the past year, the correlation between RMHYX and PRSNX has dropped to 0.43 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

RMHYX vs. PRSNX — Risk / Return Rank

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

RMHYX

RMHYX Risk / Return Rank: 10
RMHYX Sharpe Ratio Rank: 10
RMHYX Sortino Ratio Rank: 10
RMHYX Omega Ratio Rank: 10
RMHYX Calmar Ratio Rank: 10
RMHYX Martin Ratio Rank: 10

PRSNX

PRSNX Risk / Return Rank: 87
PRSNX Sharpe Ratio Rank: 86
PRSNX Sortino Ratio Rank: 95
PRSNX Omega Ratio Rank: 91
PRSNX Calmar Ratio Rank: 80
PRSNX Martin Ratio Rank: 86

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.

RMHYX vs. PRSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments Multifactor Bond Fund (RMHYX) and T. Rowe Price Global Multi-Sector Bond Fund (PRSNX). 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.

	RMHYX	PRSNX	Difference
Sharpe ratio: Return per unit of total volatility	0.83	2.77	-1.95
Sortino ratio: Return per unit of downside risk	1.23	5.02	-3.78
Omega ratio: Gain probability vs. loss probability	1.15	1.67	-0.53
Calmar ratio: Return relative to maximum drawdown	0.99	3.66	-2.67
Martin ratio: Return relative to average drawdown	2.85	16.41	-13.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RMHYX vs. PRSNX - Sharpe Ratio Comparison

The current RMHYX Sharpe Ratio is 0.83, which is lower than the PRSNX Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of RMHYX and PRSNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RMHYX	PRSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	2.77	-1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	0.50	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	1.43	-1.43

Drawdowns

RMHYX vs. PRSNX - Drawdown Comparison

The maximum RMHYX drawdown since its inception was -21.15%, which is greater than PRSNX's maximum drawdown of -19.70%. Use the drawdown chart below to compare losses from any high point for RMHYX and PRSNX.

Drawdown Indicators

	RMHYX	PRSNX	Difference
Max Drawdown Largest peak-to-trough decline	-21.15%	-19.70%	-1.45%
Max Drawdown (1Y) Largest decline over 1 year	-5.60%	-2.18%	-3.42%
Max Drawdown (3Y) Largest decline over 3 years	-9.87%	-2.87%	-7.00%
Max Drawdown (5Y) Largest decline over 5 years	-19.31%	-19.70%	+0.39%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.70%	—
Current Drawdown Current decline from peak	-6.80%	-0.10%	-6.70%
Average Drawdown Average peak-to-trough decline	-8.44%	-2.36%	-6.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	0.48%	+1.46%

Volatility

RMHYX vs. PRSNX - Volatility Comparison

Russell Investments Multifactor Bond Fund (RMHYX) has a higher volatility of 2.22% compared to T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) at 0.83%. This indicates that RMHYX's price experiences larger fluctuations and is considered to be riskier than PRSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMHYX	PRSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	0.83%	+1.39%
Volatility (6M) Calculated over the trailing 6-month period	4.71%	2.31%	+2.40%
Volatility (1Y) Calculated over the trailing 1-year period	6.73%	2.88%	+3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.58%	4.30%	+3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.99%	4.13%	+2.86%

RMHYX vs. PRSNX - Expense Ratio Comparison

RMHYX has a 0.26% expense ratio, which is lower than PRSNX's 0.65% expense ratio.

Dividends

RMHYX vs. PRSNX - Dividend Comparison

RMHYX's dividend yield for the trailing twelve months is around 4.29%, less than PRSNX's 6.63% 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%
RMHYX Russell Investments Multifactor Bond Fund	4.29%	3.61%	5.10%	0.34%	8.97%	4.59%	1.43%	0.25%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RMHYX and PRSNX in my portfolio?

RMHYX and PRSNX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RMHYX or PRSNX?

RMHYX has higher volatility (2.22%) compared to PRSNX (0.83%). In terms of maximum drawdown, RMHYX dropped -21.15% vs PRSNX's -19.70%.

Which has better risk-adjusted returns?

PRSNX currently has the higher Sharpe Ratio (2.77 vs 0.83), 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.