TNBMX vs. VTABX
TNBMX (T. Rowe Price International Bond Fund (USD Hedged)) and VTABX (Vanguard Total International Bond Index Fund Admiral Shares) are both Global Bonds funds. Over the past 5 years, TNBMX returned 1.54%/yr vs 0.44%/yr for VTABX. A 0.75 correlation means they provide meaningful diversification when combined. TNBMX charges 0.53%/yr vs 0.10%/yr for VTABX.
Performance
TNBMX vs. VTABX - Performance Comparison
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Returns By Period
In the year-to-date period, TNBMX achieves a 0.97% return, which is significantly higher than VTABX's 0.92% return.
TNBMX
- 1D
- -0.23%
- 1M
- 0.70%
- YTD
- 0.97%
- 6M
- 1.64%
- 1Y
- 4.27%
- 3Y*
- 5.71%
- 5Y*
- 1.54%
- 10Y*
- —
VTABX
- 1D
- -0.16%
- 1M
- 0.91%
- YTD
- 0.92%
- 6M
- 1.13%
- 1Y
- 2.16%
- 3Y*
- 4.24%
- 5Y*
- 0.44%
- 10Y*
- 1.78%
TNBMX vs. VTABX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 0.97% | 5.25% | 5.00% | 10.32% | -12.30% | -1.63% | 5.73% | 10.77% | 1.72% | 1.35% |
VTABX Vanguard Total International Bond Index Fund Admiral Shares | 0.92% | 2.96% | 3.92% | 8.77% | -12.92% | -2.22% | 4.54% | 8.83% | 2.97% | 0.81% |
Correlation
The correlation between TNBMX and VTABX is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2017 | 0.75 |
The correlation between TNBMX and VTABX shifts across timeframes, from 0.64 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TNBMX vs. VTABX — Risk / Return Rank
TNBMX
VTABX
TNBMX vs. VTABX - 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 Vanguard Total International Bond Index Fund Admiral Shares (VTABX). 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.
| TNBMX | VTABX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.13 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 0.77 | +1.08 |
| Martin ratioReturn relative to average drawdown | 6.20 | 2.08 | +4.12 |
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Drawdowns
TNBMX vs. VTABX - Drawdown Comparison
The maximum TNBMX drawdown since its inception was -15.78%, roughly equal to the maximum VTABX drawdown of -16.16%. Use the drawdown chart below to compare losses from any high point for TNBMX and VTABX.
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Drawdown Indicators
| TNBMX | VTABX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.78% | -16.16% | +0.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -2.90% | +0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -2.32% | -2.90% | +0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -15.48% | -15.81% | +0.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.16% | — |
Current DrawdownCurrent decline from peak | -0.39% | -0.94% | +0.55% |
Average DrawdownAverage peak-to-trough decline | -3.05% | -3.04% | -0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 1.07% | -0.38% |
Volatility
TNBMX vs. VTABX - Volatility Comparison
The current volatility for T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) is 0.75%, while Vanguard Total International Bond Index Fund Admiral Shares (VTABX) has a volatility of 0.90%. This indicates that TNBMX experiences smaller price fluctuations and is considered to be less risky than VTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TNBMX | VTABX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 0.90% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.18% | 2.62% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.58% | 3.07% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.63% | 4.45% | -0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.32% | 3.62% | -0.30% |
TNBMX vs. VTABX - Expense Ratio Comparison
TNBMX has a 0.53% expense ratio, which is higher than VTABX's 0.10% expense ratio.
Dividends
TNBMX vs. VTABX - Dividend Comparison
TNBMX's dividend yield for the trailing twelve months is around 4.78%, more than VTABX's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 4.78% | 4.76% | 4.24% | 2.85% | 10.20% | 2.84% | 1.90% | 4.65% | 8.20% | 0.64% | 0.00% | 0.00% |
VTABX Vanguard Total International Bond Index Fund Admiral Shares | 4.44% | 4.36% | 4.33% | 4.39% | 1.48% | 3.70% | 1.08% | 4.28% | 3.00% | 2.23% | 1.80% | 1.64% |
Frequently Asked Questions
TNBMX and VTABX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTABX has higher volatility (0.90%) compared to TNBMX (0.75%). In terms of maximum drawdown, TNBMX dropped -15.78% vs VTABX's -16.16%.
TNBMX currently has the higher Sharpe Ratio (1.66 vs 0.72), 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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