TPINX vs. FGBFX

Last updated Jun 5, 2026

TPINX (Templeton Global Bond Fund) and FGBFX (Fidelity Global Credit Fund) are both Global Bonds funds. At a 0.10 correlation, their price movements are largely independent. TPINX charges 0.94%/yr vs 0.70%/yr for FGBFX.

Performance

TPINX vs. FGBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Templeton Global Bond Fund (TPINX) and Fidelity Global Credit Fund (FGBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TPINX

• 1D: -0.70%
• 1M: -0.53%
• YTD: 1.43%
• 6M: 1.49%
• 1Y: 5.59%
• 3Y*: 2.09%
• 5Y*: -1.02%
• 10Y*: 0.22%

FGBFX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TPINX vs. FGBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TPINX Templeton Global Bond Fund	1.43%	15.02%	-11.95%	2.45%	-6.17%	-5.06%	-4.41%	0.63%	1.26%	2.36%
FGBFX Fidelity Global Credit Fund	0.00%	7.82%	8.41%	7.14%	-19.74%	-0.53%	8.25%	14.65%	-2.82%	8.90%

Correlation

The correlation between TPINX and FGBFX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since May 24, 2012	0.10

Over the past year, TPINX and FGBFX have become more correlated (0.31) than their long-term average of 0.10, meaning their price movements have been converging.

Return for Risk

TPINX vs. FGBFX — Risk / Return Rank

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

TPINX

TPINX Risk / Return Rank: 11
TPINX Sharpe Ratio Rank: 11
TPINX Sortino Ratio Rank: 11
TPINX Omega Ratio Rank: 11
TPINX Calmar Ratio Rank: 11
TPINX Martin Ratio Rank: 11

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.

TPINX vs. FGBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Global Bond Fund (TPINX) and Fidelity Global Credit Fund (FGBFX). 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.

	TPINX	FGBFX	Difference
Sharpe ratio: Return per unit of total volatility	0.86	—	—
Sortino ratio: Return per unit of downside risk	1.26	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.98	—	—
Martin ratio: Return relative to average drawdown	3.19	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TPINX	FGBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	—	—

Drawdowns

Drawdown Indicators

	TPINX	FGBFX	Difference
Max Drawdown Largest peak-to-trough decline	-26.45%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.36%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.45%	—	—
Current Drawdown Current decline from peak	-13.66%	—	—
Average Drawdown Average peak-to-trough decline	-4.84%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	—	—

Volatility

Volatility by Period

	TPINX	FGBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.25%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.13%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.27%	—	—

TPINX vs. FGBFX - Expense Ratio Comparison

TPINX has a 0.94% expense ratio, which is higher than FGBFX's 0.70% expense ratio.

Dividends

TPINX vs. FGBFX - Dividend Comparison

TPINX's dividend yield for the trailing twelve months is around 5.06%, more than FGBFX's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGBFX Fidelity Global Credit Fund	1.86%	3.04%	3.68%	3.69%	6.53%	2.53%	3.69%	3.73%	2.67%	1.98%	2.98%	2.72%
TPINX Templeton Global Bond Fund	5.06%	4.29%	5.77%	3.87%	5.17%	5.38%	4.59%	6.12%	6.53%	3.34%	2.33%	3.11%

Frequently Asked Questions

Can I hold both TPINX and FGBFX in my portfolio?

TPINX and FGBFX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.