TNBMX vs. UDBPX

Last updated Apr 2, 2026

Compare and contrast key facts about T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) and UBS Sustainable Development Bank Bond Fund (UDBPX).

TNBMX is managed by T. Rowe Price. It was launched on Sep 11, 2017. UDBPX is managed by UBS. It was launched on Oct 23, 2018.

Performance

TNBMX vs. UDBPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) and UBS Sustainable Development Bank Bond Fund (UDBPX). The values are adjusted to include any dividend payments, if applicable.

TNBMX vs. UDBPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TNBMX T. Rowe Price International Bond Fund (USD Hedged)	-0.20%	6.87%	3.84%	10.32%	-12.30%	-1.63%	5.73%	10.77%	1.90%
UDBPX UBS Sustainable Development Bank Bond Fund	0.28%	6.96%	1.55%	4.53%	-10.41%	-2.43%	6.80%	6.79%	2.03%

Returns By Period

In the year-to-date period, TNBMX achieves a -0.20% return, which is significantly lower than UDBPX's 0.28% return.

TNBMX

• 1D: 0.24%
• 1M: -1.97%
• YTD: -0.20%
• 6M: 1.34%
• 1Y: 6.09%
• 3Y*: 5.79%
• 5Y*: 1.41%
• 10Y*: —

UDBPX

• 1D: 0.10%
• 1M: -1.11%
• YTD: 0.28%
• 6M: 0.97%
• 1Y: 4.22%
• 3Y*: 3.45%
• 5Y*: 0.48%
• 10Y*: —

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

TNBMX vs. UDBPX - Expense Ratio Comparison

TNBMX has a 0.53% expense ratio, which is higher than UDBPX's 0.25% expense ratio.

TNBMX

T. Rowe Price International Bond Fund (USD Hedged)

UDBPX

UBS Sustainable Development Bank Bond Fund

Return for Risk

TNBMX vs. UDBPX — Risk / Return Rank

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

TNBMX

TNBMX Risk / Return Rank: 94
TNBMX Sharpe Ratio Rank: 95
TNBMX Sortino Ratio Rank: 96
TNBMX Omega Ratio Rank: 95
TNBMX Calmar Ratio Rank: 91
TNBMX Martin Ratio Rank: 94

UDBPX

UDBPX Risk / Return Rank: 66
UDBPX Sharpe Ratio Rank: 62
UDBPX Sortino Ratio Rank: 67
UDBPX Omega Ratio Rank: 49
UDBPX Calmar Ratio Rank: 87
UDBPX Martin Ratio Rank: 67

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.

TNBMX vs. UDBPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) and UBS Sustainable Development Bank Bond Fund (UDBPX). 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.

	TNBMX	UDBPX	Difference
Sharpe ratio Return per unit of total volatility	2.32	1.25	+1.07
Sortino ratio Return per unit of downside risk	3.57	1.88	+1.69
Omega ratio Gain probability vs. loss probability	1.55	1.23	+0.32
Calmar ratio Return relative to maximum drawdown	2.85	2.52	+0.33
Martin ratio Return relative to average drawdown	12.61	7.59	+5.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TNBMX vs. UDBPX - Sharpe Ratio Comparison

The current TNBMX Sharpe Ratio is 2.32, which is higher than the UDBPX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of TNBMX and UDBPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TNBMX	UDBPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	1.25	+1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.10	+0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.45	+0.41

Correlation

The correlation between TNBMX and UDBPX is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TNBMX vs. UDBPX - Dividend Comparison

TNBMX's dividend yield for the trailing twelve months is around 6.71%, more than UDBPX's 3.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNBMX T. Rowe Price International Bond Fund (USD Hedged)	6.71%	6.29%	3.15%	2.85%	10.20%	2.84%	1.90%	4.65%	8.20%	0.64%
UDBPX UBS Sustainable Development Bank Bond Fund	3.51%	3.12%	2.84%	2.15%	1.46%	1.03%	4.11%	2.69%	0.52%	0.00%

Drawdowns

TNBMX vs. UDBPX - Drawdown Comparison

The maximum TNBMX drawdown since its inception was -15.78%, roughly equal to the maximum UDBPX drawdown of -15.45%. Use the drawdown chart below to compare losses from any high point for TNBMX and UDBPX.

Drawdown Indicators

	TNBMX	UDBPX	Difference
Max Drawdown Largest peak-to-trough decline	-15.78%	-15.45%	-0.33%
Max Drawdown (1Y) Largest decline over 1 year	-2.32%	-1.94%	-0.38%
Max Drawdown (5Y) Largest decline over 5 years	-15.48%	-14.55%	-0.93%
Current Drawdown Current decline from peak	-2.09%	-1.22%	-0.87%
Average Drawdown Average peak-to-trough decline	-3.16%	-5.19%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.64%	-0.12%

Volatility

TNBMX vs. UDBPX - Volatility Comparison

The current volatility for T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) is 1.15%, while UBS Sustainable Development Bank Bond Fund (UDBPX) has a volatility of 1.38%. This indicates that TNBMX experiences smaller price fluctuations and is considered to be less risky than UDBPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNBMX	UDBPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	1.38%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	1.80%	2.26%	-0.46%
Volatility (1Y) Calculated over the trailing 1-year period	2.71%	3.83%	-1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.60%	4.97%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.33%	4.52%	-1.19%