RPELX vs. RPIEX
RPELX (T. Rowe Price Dynamic Credit Fund) and RPIEX (T. Rowe Price Dynamic Global Bond Fund) are both Nontraditional Bonds funds from T. Rowe Price. Over the past 5 years, RPELX returned 2.94%/yr vs 3.39%/yr for RPIEX. Their 0.30 correlation means their historical movements had little consistent relationship. RPELX charges 0.56%/yr vs 0.71%/yr for RPIEX.
Performance
RPELX vs. RPIEX - Performance Comparison
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Returns By Period
In the year-to-date period, RPELX achieves a -1.33% return, which is significantly lower than RPIEX's 3.33% return.
RPELX
- 1D
- 0.48%
- 1M
- -1.29%
- 6M
- -2.27%
- YTD
- -1.33%
- 1Y
- 0.75%
- 3Y*
- 5.30%
- 5Y*
- 2.94%
- 10Y*
- —
- ALL TIME*
- 4.09%
RPIEX
- 1D
- -0.13%
- 1M
- -0.92%
- 6M
- 2.43%
- YTD
- 3.33%
- 1Y
- 3.26%
- 3Y*
- 6.03%
- 5Y*
- 3.39%
- 10Y*
- 2.68%
- ALL TIME*
- 2.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RPELX vs. RPIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RPELX T. Rowe Price Dynamic Credit Fund | -1.33% | 7.13% | 7.47% | 2.92% | -0.81% | 6.37% | 2.52% | 7.00% |
RPIEX T. Rowe Price Dynamic Global Bond Fund | 3.33% | 4.15% | 9.82% | -1.82% | 3.08% | 0.08% | 9.42% | 0.03% |
Correlation
The correlation between RPELX and RPIEX is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.31 |
The correlation between RPELX and RPIEX shifts across timeframes, from -0.15 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RPELX vs. RPIEX — Risk / Return Rank
RPELX
RPIEX
RPELX vs. RPIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dynamic Credit Fund (RPELX) and T. Rowe Price Dynamic Global Bond Fund (RPIEX). 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.
| RPELX | RPIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.15 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.27 | 0.83 | -0.56 |
| Martin ratioReturn relative to average drawdown | 0.89 | 2.47 | -1.58 |
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Drawdowns
RPELX vs. RPIEX - Drawdown Comparison
The maximum RPELX drawdown since its inception was -19.94%, which is greater than RPIEX's maximum drawdown of -7.84%. Use the drawdown chart below to compare losses from any high point for RPELX and RPIEX.
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Drawdown Indicators
| RPELX | RPIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.94% | -7.84% | -12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -3.64% | +0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -3.16% | -3.64% | +0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -7.25% | -7.84% | +0.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.84% | — |
Current DrawdownCurrent decline from peak | -2.36% | -1.04% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -1.95% | -1.98% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 1.21% | -0.36% |
Volatility
RPELX vs. RPIEX - Volatility Comparison
T. Rowe Price Dynamic Credit Fund (RPELX) has a higher volatility of 1.23% compared to T. Rowe Price Dynamic Global Bond Fund (RPIEX) at 1.08%. This indicates that RPELX's price experiences larger fluctuations and is considered to be riskier than RPIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPELX | RPIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.08% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 3.87% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 4.37% | -1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.78% | 4.93% | -1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.72% | 4.21% | +0.51% |
RPELX vs. RPIEX - Expense Ratio Comparison
RPELX has a 0.56% expense ratio, which is lower than RPIEX's 0.71% expense ratio.
Dividends
RPELX vs. RPIEX - Dividend Comparison
RPELX's dividend yield for the trailing twelve months is around 6.19%, more than RPIEX's 5.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
RPELX T. Rowe Price Dynamic Credit Fund | 6.19% | 7.49% | 6.95% | 4.90% | 8.05% | 5.39% | 7.16% | 4.43% | 0.00% | 0.00% | 0.00% |
RPIEX T. Rowe Price Dynamic Global Bond Fund | 5.67% | 7.07% | 9.06% | 7.53% | 15.28% | 3.76% | 1.93% | 2.51% | 4.36% | 0.61% | 2.72% |
Frequently Asked Questions
RPELX and RPIEX have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPELX has higher volatility (1.23%) compared to RPIEX (1.08%). In terms of maximum drawdown, RPELX dropped -19.94% vs RPIEX's -7.84%.
RPIEX currently has the higher Sharpe Ratio (0.69 vs 0.23), 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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