TNBMX vs. VTIIX
Compare and contrast key facts about T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) and Vanguard Total International Bond II Index Fund Investor Class (VTIIX).
TNBMX is managed by T. Rowe Price. It was launched on Sep 11, 2017. VTIIX is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index Hedged. It was launched on Feb 17, 2021.
Performance
TNBMX vs. VTIIX - Performance Comparison
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TNBMX vs. VTIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | -0.43% | 6.87% | 3.84% | 10.32% | -12.30% | -0.19% |
VTIIX Vanguard Total International Bond II Index Fund Investor Class | -0.72% | 2.95% | 3.82% | 8.72% | -13.03% | -0.52% |
Returns By Period
In the year-to-date period, TNBMX achieves a -0.43% return, which is significantly higher than VTIIX's -0.72% return.
TNBMX
- 1D
- 0.00%
- 1M
- -2.32%
- YTD
- -0.43%
- 6M
- 1.22%
- 1Y
- 5.96%
- 3Y*
- 5.71%
- 5Y*
- 1.40%
- 10Y*
- —
VTIIX
- 1D
- 0.35%
- 1M
- -2.60%
- YTD
- -0.72%
- 6M
- -0.24%
- 1Y
- 2.40%
- 3Y*
- 3.68%
- 5Y*
- 0.08%
- 10Y*
- —
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TNBMX vs. VTIIX - Expense Ratio Comparison
TNBMX has a 0.53% expense ratio, which is higher than VTIIX's 0.11% expense ratio.
Return for Risk
TNBMX vs. VTIIX — Risk / Return Rank
TNBMX
VTIIX
TNBMX vs. VTIIX - 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 II Index Fund Investor Class (VTIIX). 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 | VTIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.36 | 0.75 | +1.61 |
Sortino ratioReturn per unit of downside risk | 3.66 | 1.06 | +2.60 |
Omega ratioGain probability vs. loss probability | 1.56 | 1.14 | +0.42 |
Calmar ratioReturn relative to maximum drawdown | 2.80 | 0.89 | +1.91 |
Martin ratioReturn relative to average drawdown | 12.78 | 3.81 | +8.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TNBMX | VTIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | 0.75 | +1.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.02 | +0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | -0.01 | +0.86 |
Correlation
The correlation between TNBMX and VTIIX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TNBMX vs. VTIIX - Dividend Comparison
TNBMX's dividend yield for the trailing twelve months is around 6.72%, more than VTIIX's 4.07% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 6.72% | 6.29% | 3.15% | 2.85% | 10.20% | 2.84% | 1.90% | 4.65% | 8.20% | 0.64% |
VTIIX Vanguard Total International Bond II Index Fund Investor Class | 4.07% | 4.21% | 4.46% | 4.16% | 0.89% | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TNBMX vs. VTIIX - Drawdown Comparison
The maximum TNBMX drawdown since its inception was -15.78%, roughly equal to the maximum VTIIX drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for TNBMX and VTIIX.
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Drawdown Indicators
| TNBMX | VTIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.78% | -15.95% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -2.94% | +0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -15.48% | -15.95% | +0.47% |
Current DrawdownCurrent decline from peak | -2.32% | -2.60% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -6.19% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.69% | -0.18% |
Volatility
TNBMX vs. VTIIX - Volatility Comparison
The current volatility for T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) is 1.10%, while Vanguard Total International Bond II Index Fund Investor Class (VTIIX) has a volatility of 1.50%. This indicates that TNBMX experiences smaller price fluctuations and is considered to be less risky than VTIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TNBMX | VTIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.50% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.82% | 2.13% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 3.20% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.60% | 4.47% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.33% | 4.45% | -1.12% |