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 -2.25%/yr vs -0.04%/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 -1.15% return, which is significantly lower than BNDW's 0.15% return.
RPIBX
- 1D
- 0.00%
- 1M
- -1.07%
- 6M
- -0.87%
- YTD
- -1.15%
- 1Y
- -0.55%
- 3Y*
- 4.28%
- 5Y*
- -2.25%
- 10Y*
- 0.10%
BNDW
- 1D
- -0.35%
- 1M
- -0.61%
- 6M
- -0.23%
- YTD
- 0.15%
- 1Y
- 2.78%
- 3Y*
- 3.90%
- 5Y*
- -0.04%
- 10Y*
- —
RPIBX vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
RPIBX T. Rowe Price International Bond Fund | -1.15% | 10.96% | -2.90% | 9.35% | -20.72% | -7.18% | 11.51% | 6.67% | 0.71% |
BNDW Vanguard Total World Bond ETF | 0.15% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 8.37% | 1.27% |
Correlation
The correlation between RPIBX and BNDW is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
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 | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.30 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.14 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 1.03 | -1.17 |
| Martin ratioReturn relative to average drawdown | -0.34 | 2.71 | -3.05 |
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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 | -8.18% | -4.27% | -3.91% |
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 | -14.81% | -1.80% | -13.01% |
Average DrawdownAverage peak-to-trough decline | -6.83% | -4.93% | -1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 1.03% | +0.97% |
Volatility
RPIBX vs. BNDW - Volatility Comparison
T. Rowe Price International Bond Fund (RPIBX) has a higher volatility of 1.30% compared to Vanguard Total World Bond ETF (BNDW) at 1.10%. 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 | 1.30% | 1.10% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 4.88% | 2.79% | +2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.04% | 3.39% | +2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.84% | 5.22% | +2.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.22% | 4.89% | +2.33% |
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 3.74%, less than BNDW's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.25% | 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 | 3.74% | 4.06% | 5.59% | 4.46% | 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 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPIBX has higher volatility (1.30%) compared to BNDW (1.10%). In terms of maximum drawdown, RPIBX dropped -33.80% vs BNDW's -17.22%.
BNDW currently has the higher Sharpe Ratio (0.82 vs -0.11), 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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