RPIBX vs. PRNHX
RPIBX (T. Rowe Price International Bond Fund) and PRNHX (T. Rowe Price New Horizons Fund) are both mutual funds - RPIBX is a Global Bonds fund managed by T. Rowe Price, while PRNHX is a Mid Cap Growth Equities fund managed by T. Rowe Price. Over the past 10 years, RPIBX returned 0.10%/yr vs 14.29%/yr for PRNHX. At a 0.03 correlation, their price movements are largely independent. RPIBX charges 0.67%/yr vs 0.79%/yr for PRNHX.
Performance
RPIBX vs. PRNHX - 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 PRNHX's 15.18% return. Over the past 10 years, RPIBX has underperformed PRNHX with an annualized return of 0.10%, while PRNHX has yielded a comparatively higher 14.29% annualized 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%
PRNHX
- 1D
- -1.00%
- 1M
- 1.76%
- 6M
- 8.67%
- YTD
- 15.18%
- 1Y
- 23.78%
- 3Y*
- 10.17%
- 5Y*
- -0.51%
- 10Y*
- 14.29%
RPIBX vs. PRNHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RPIBX T. Rowe Price International Bond Fund | -1.15% | 10.96% | -2.90% | 9.35% | -20.72% | -7.18% | 11.51% | 6.67% | -2.93% | 11.16% |
PRNHX T. Rowe Price New Horizons Fund | 15.18% | 3.27% | 8.80% | 21.35% | -36.96% | 9.96% | 58.05% | 56.50% | 3.79% | 31.59% |
Correlation
The correlation between RPIBX and PRNHX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1990 | 0.03 |
Over the past year, RPIBX and PRNHX have become more correlated (0.33) than their long-term average of 0.03, meaning their price movements have been converging.
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Return for Risk
RPIBX vs. PRNHX — Risk / Return Rank
RPIBX
PRNHX
RPIBX vs. PRNHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Bond Fund (RPIBX) and T. Rowe Price New Horizons Fund (PRNHX). 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 | PRNHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.19 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 1.69 | -1.83 |
| Martin ratioReturn relative to average drawdown | -0.34 | 6.38 | -6.73 |
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Drawdowns
RPIBX vs. PRNHX - Drawdown Comparison
The maximum RPIBX drawdown since its inception was -33.80%, smaller than the maximum PRNHX drawdown of -70.96%. Use the drawdown chart below to compare losses from any high point for RPIBX and PRNHX.
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Drawdown Indicators
| RPIBX | PRNHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.80% | -70.96% | +37.16% |
Max Drawdown (1Y)Largest decline over 1 year | -4.98% | -13.12% | +8.14% |
Max Drawdown (3Y)Largest decline over 3 years | -8.18% | -26.65% | +18.47% |
Max Drawdown (5Y)Largest decline over 5 years | -31.45% | -48.37% | +16.92% |
Max Drawdown (10Y)Largest decline over 10 years | -33.80% | -48.37% | +14.57% |
Current DrawdownCurrent decline from peak | -14.81% | -11.27% | -3.54% |
Average DrawdownAverage peak-to-trough decline | -6.83% | -18.37% | +11.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 3.47% | -1.47% |
Volatility
RPIBX vs. PRNHX - Volatility Comparison
The current volatility for T. Rowe Price International Bond Fund (RPIBX) is 1.30%, while T. Rowe Price New Horizons Fund (PRNHX) has a volatility of 7.62%. This indicates that RPIBX experiences smaller price fluctuations and is considered to be less risky than PRNHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPIBX | PRNHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 7.62% | -6.32% |
Volatility (6M)Calculated over the trailing 6-month period | 4.88% | 17.42% | -12.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.04% | 21.19% | -15.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.84% | 24.87% | -17.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.22% | 22.91% | -15.69% |
RPIBX vs. PRNHX - Expense Ratio Comparison
RPIBX has a 0.67% expense ratio, which is lower than PRNHX's 0.79% expense ratio.
Dividends
RPIBX vs. PRNHX - Dividend Comparison
RPIBX's dividend yield for the trailing twelve months is around 3.74%, less than PRNHX's 10.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRNHX T. Rowe Price New Horizons Fund | 10.29% | 11.85% | 9.82% | 0.00% | 4.72% | 17.09% | 13.67% | 23.46% | 13.94% | 8.27% | 5.77% | 7.72% |
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 PRNHX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRNHX has higher volatility (7.62%) compared to RPIBX (1.30%). In terms of maximum drawdown, RPIBX dropped -33.80% vs PRNHX's -70.96%.
PRNHX currently has the higher Sharpe Ratio (1.05 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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