RPIEX vs. SIFFX

Last updated Jun 4, 2026

RPIEX (T. Rowe Price Dynamic Global Bond Fund) and SIFFX (Victory Pioneer Securitized Income Fund Class A) are both Nontraditional Bonds funds. Over the past 3 years, RPIEX returned 3.89%/yr vs 7.06%/yr for SIFFX. At a correlation of -0.12, they often move in opposite directions. RPIEX charges 0.71%/yr vs 0.90%/yr for SIFFX.

Performance

RPIEX vs. SIFFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Dynamic Global Bond Fund (RPIEX) and Victory Pioneer Securitized Income Fund Class A (SIFFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPIEX achieves a 2.75% return, which is significantly higher than SIFFX's 1.94% return.

RPIEX

• 1D: -0.13%
• 1M: 1.00%
• YTD: 2.75%
• 6M: 4.12%
• 1Y: 4.95%
• 3Y*: 3.89%
• 5Y*: 1.86%
• 10Y*: 2.29%

SIFFX

• 1D: 0.00%
• 1M: 0.50%
• YTD: 1.94%
• 6M: 2.46%
• 1Y: 5.35%
• 3Y*: 7.06%
• 5Y*: —
• 10Y*: —

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

RPIEX vs. SIFFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RPIEX T. Rowe Price Dynamic Global Bond Fund	2.75%	4.82%	6.83%	-4.51%	3.08%	-1.30%
SIFFX Victory Pioneer Securitized Income Fund Class A	1.94%	6.57%	7.33%	9.72%	-6.17%	1.62%

Correlation

The correlation between RPIEX and SIFFX is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.12
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021	-0.12

Return for Risk

RPIEX vs. SIFFX — Risk / Return Rank

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

RPIEX

RPIEX Risk / Return Rank: 18
RPIEX Sharpe Ratio Rank: 16
RPIEX Sortino Ratio Rank: 21
RPIEX Omega Ratio Rank: 24
RPIEX Calmar Ratio Rank: 15
RPIEX Martin Ratio Rank: 16

SIFFX

SIFFX Risk / Return Rank: 74
SIFFX Sharpe Ratio Rank: 61
SIFFX Sortino Ratio Rank: 90
SIFFX Omega Ratio Rank: 94
SIFFX Calmar Ratio Rank: 78
SIFFX Martin Ratio Rank: 46

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.

RPIEX vs. SIFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dynamic Global Bond Fund (RPIEX) and Victory Pioneer Securitized Income Fund Class A (SIFFX). 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.

	RPIEX	SIFFX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	2.31	-1.17
Sortino ratio: Return per unit of downside risk	1.92	4.48	-2.56
Omega ratio: Gain probability vs. loss probability	1.25	1.74	-0.49
Calmar ratio: Return relative to maximum drawdown	1.37	3.54	-2.17
Martin ratio: Return relative to average drawdown	4.59	9.58	-5.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RPIEX vs. SIFFX - Sharpe Ratio Comparison

The current RPIEX Sharpe Ratio is 1.14, which is lower than the SIFFX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of RPIEX and SIFFX, 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

	RPIEX	SIFFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	2.31	-1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	1.44	-0.87

Drawdowns

RPIEX vs. SIFFX - Drawdown Comparison

The maximum RPIEX drawdown since its inception was -9.59%, which is greater than SIFFX's maximum drawdown of -7.08%. Use the drawdown chart below to compare losses from any high point for RPIEX and SIFFX.

Drawdown Indicators

	RPIEX	SIFFX	Difference
Max Drawdown Largest peak-to-trough decline	-9.59%	-7.08%	-2.51%
Max Drawdown (1Y) Largest decline over 1 year	-3.64%	-1.55%	-2.09%
Max Drawdown (3Y) Largest decline over 3 years	-3.64%	-1.55%	-2.09%
Max Drawdown (5Y) Largest decline over 5 years	-9.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-9.59%	—	—
Current Drawdown Current decline from peak	-0.26%	0.00%	-0.26%
Average Drawdown Average peak-to-trough decline	-2.48%	-1.52%	-0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	0.57%	+0.51%

Volatility

RPIEX vs. SIFFX - Volatility Comparison

T. Rowe Price Dynamic Global Bond Fund (RPIEX) has a higher volatility of 0.86% compared to Victory Pioneer Securitized Income Fund Class A (SIFFX) at 0.60%. This indicates that RPIEX's price experiences larger fluctuations and is considered to be riskier than SIFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPIEX	SIFFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	0.60%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	3.87%	1.54%	+2.33%
Volatility (1Y) Calculated over the trailing 1-year period	4.36%	2.37%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.92%	2.88%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.19%	2.88%	+1.31%

RPIEX vs. SIFFX - Expense Ratio Comparison

RPIEX has a 0.71% expense ratio, which is lower than SIFFX's 0.90% expense ratio.

Dividends

RPIEX vs. SIFFX - Dividend Comparison

RPIEX's dividend yield for the trailing twelve months is around 7.55%, more than SIFFX's 6.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
RPIEX T. Rowe Price Dynamic Global Bond Fund	7.55%	7.69%	6.32%	4.68%	15.28%	3.76%	1.93%	2.51%	4.36%	0.61%	2.72%
SIFFX Victory Pioneer Securitized Income Fund Class A	6.19%	6.37%	5.01%	4.77%	4.90%	3.14%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RPIEX and SIFFX in my portfolio?

RPIEX and SIFFX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPIEX or SIFFX?

RPIEX has higher volatility (0.86%) compared to SIFFX (0.60%). In terms of maximum drawdown, RPIEX dropped -9.59% vs SIFFX's -7.08%.

Which has better risk-adjusted returns?

SIFFX currently has the higher Sharpe Ratio (2.31 vs 1.14), 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.