RPIBX vs. BNDW
RPIBX (T. Rowe Price International Bond Fund) and BNDW (Vanguard Total World Bond ETF) are both Global Bonds funds. Over the past 5 years, RPIBX returned -2.75%/yr vs 0.27%/yr for BNDW. A 0.54 correlation means they provide meaningful diversification when combined. RPIBX charges 0.67%/yr vs 0.05%/yr for BNDW.
Performance
RPIBX vs. BNDW - Performance Comparison
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Returns By Period
In the year-to-date period, RPIBX achieves a -1.32% return, which is significantly lower than BNDW's 0.88% return.
RPIBX
- 1D
- -0.42%
- 1M
- -0.65%
- YTD
- -1.32%
- 6M
- -0.84%
- 1Y
- 1.17%
- 3Y*
- 3.80%
- 5Y*
- -2.75%
- 10Y*
- -0.13%
BNDW
- 1D
- 0.15%
- 1M
- 0.77%
- YTD
- 0.88%
- 6M
- 0.88%
- 1Y
- 3.23%
- 3Y*
- 4.10%
- 5Y*
- 0.27%
- 10Y*
- —
RPIBX vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
RPIBX T. Rowe Price International Bond Fund | -1.32% | 11.74% | -4.31% | 7.35% | -20.72% | -7.18% | 11.51% | 6.67% | 0.71% |
BNDW Vanguard Total World Bond ETF | 0.88% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 8.37% | 1.27% |
Correlation
The correlation between RPIBX and BNDW 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 | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2018 | 0.54 |
The correlation between RPIBX and BNDW has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.
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Return for Risk
RPIBX vs. BNDW — Risk / Return Rank
RPIBX
BNDW
RPIBX vs. BNDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Bond Fund (RPIBX) and Vanguard Total World Bond ETF (BNDW). 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.
| RPIBX | BNDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.17 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 1.20 | -0.94 |
| Martin ratioReturn relative to average drawdown | 0.70 | 3.24 | -2.55 |
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Drawdowns
RPIBX vs. BNDW - Drawdown Comparison
The maximum RPIBX drawdown since its inception was -33.80%, which is greater than BNDW's maximum drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for RPIBX and BNDW.
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Drawdown Indicators
| RPIBX | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.80% | -17.22% | -16.58% |
Max Drawdown (1Y)Largest decline over 1 year | -4.98% | -2.70% | -2.28% |
Max Drawdown (3Y)Largest decline over 3 years | -8.19% | -4.27% | -3.92% |
Max Drawdown (5Y)Largest decline over 5 years | -31.45% | -16.93% | -14.52% |
Max Drawdown (10Y)Largest decline over 10 years | -33.80% | — | — |
Current DrawdownCurrent decline from peak | -17.15% | -1.08% | -16.07% |
Average DrawdownAverage peak-to-trough decline | -7.00% | -4.95% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 1.00% | +0.88% |
Volatility
RPIBX vs. BNDW - Volatility Comparison
T. Rowe Price International Bond Fund (RPIBX) has a higher volatility of 1.49% compared to Vanguard Total World Bond ETF (BNDW) at 0.92%. This indicates that RPIBX's price experiences larger fluctuations and is considered to be riskier than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPIBX | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 0.92% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.80% | 2.70% | +2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.07% | 3.35% | +2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.81% | 5.22% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.21% | 4.89% | +2.32% |
RPIBX vs. BNDW - Expense Ratio Comparison
RPIBX has a 0.67% expense ratio, which is higher than BNDW's 0.05% expense ratio.
Dividends
RPIBX vs. BNDW - Dividend Comparison
RPIBX's dividend yield for the trailing twelve months is around 4.92%, more than BNDW's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.19% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% | 0.00% | 0.00% | 0.00% |
RPIBX T. Rowe Price International Bond Fund | 4.92% | 4.80% | 4.06% | 2.68% | 1.37% | 1.90% | 1.27% | 1.99% | 2.05% | 1.89% | 1.81% | 1.98% |
Frequently Asked Questions
RPIBX and BNDW 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.
RPIBX has higher volatility (1.49%) compared to BNDW (0.92%). In terms of maximum drawdown, RPIBX dropped -33.80% vs BNDW's -17.22%.
BNDW currently has the higher Sharpe Ratio (0.97 vs 0.22), 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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