TMSF vs. NXUS

Last updated Jul 12, 2026

TMSF (T. Rowe Price Multi-Sector Income ETF) and NXUS (Nuveen International Aggregate Bond ETF) are both exchange-traded funds - TMSF is a Multisector Bonds fund actively managed by T. Rowe Price, while NXUS is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Index (USD Hedged). TMSF is actively managed, while NXUS is passively managed. A 0.56 correlation means they provide meaningful diversification when combined. TMSF charges 0.37%/yr vs 0.08%/yr for NXUS.

Performance

TMSF vs. NXUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Multi-Sector Income ETF (TMSF) and Nuveen International Aggregate Bond ETF (NXUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMSF achieves a 2.21% return, which is significantly higher than NXUS's 0.84% return.

TMSF

• 1D: -0.01%
• 1M: 0.45%
• 6M: 1.98%
• YTD: 2.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NXUS

• 1D: 0.20%
• 1M: -0.04%
• 6M: 0.44%
• YTD: 0.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMSF vs. NXUS - Yearly Performance Comparison

	2026 (YTD)	2025
TMSF T. Rowe Price Multi-Sector Income ETF	2.21%	1.29%
NXUS Nuveen International Aggregate Bond ETF	0.84%	-0.11%

Correlation

The correlation between TMSF and NXUS is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.56

Return for Risk

TMSF vs. NXUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Multi-Sector Income ETF (TMSF) and Nuveen International Aggregate Bond ETF (NXUS). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

TMSF vs. NXUS - Drawdown Comparison

The maximum TMSF drawdown since its inception was -2.28%, smaller than the maximum NXUS drawdown of -2.81%. Use the drawdown chart below to compare losses from any high point for TMSF and NXUS.

Drawdown Indicators

	TMSF	NXUS	Difference
Max Drawdown Largest peak-to-trough decline	-2.28%	-2.81%	+0.53%
Current Drawdown Current decline from peak	-0.28%	-0.97%	+0.69%
Average Drawdown Average peak-to-trough decline	-0.35%	-0.89%	+0.54%

Volatility

Volatility by Period

	TMSF	NXUS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.87%	3.70%	-0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.87%	3.70%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.87%	3.70%	-0.83%

TMSF vs. NXUS - Expense Ratio Comparison

TMSF has a 0.37% expense ratio, which is higher than NXUS's 0.08% expense ratio.

Dividends

TMSF vs. NXUS - Dividend Comparison

TMSF's dividend yield for the trailing twelve months is around 3.28%, more than NXUS's 1.95% yield.

Position	TTM	2025
NXUS Nuveen International Aggregate Bond ETF	1.95%	0.39%
TMSF T. Rowe Price Multi-Sector Income ETF	3.28%	0.75%

Frequently Asked Questions

Can I hold both TMSF and NXUS in my portfolio?

TMSF and NXUS have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMSF or NXUS?

On fees, NXUS is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMSF or NXUS?

NXUS is cheaper with a 0.08% expense ratio, compared with 0.37% for TMSF.

Which ETF pays a higher dividend yield, TMSF or NXUS?

TMSF has the higher dividend yield at 3.28%, compared with 1.95% for NXUS.

What is the main difference between TMSF and NXUS?

TMSF is categorized as Multisector Bonds, while NXUS is Global Bonds. They also come from different issuers: T. Rowe Price and Nuveen. Their fees differ too: 0.37% for TMSF and 0.08% for NXUS.