TRVLX vs. PRSNX

Last updated Jun 3, 2026

TRVLX (T. Rowe Price Value Fund) and PRSNX (T. Rowe Price Global Multi-Sector Bond Fund) are both mutual funds - TRVLX is a Large Cap Value Equities fund managed by T. Rowe Price, while PRSNX is a Global Bonds fund managed by T. Rowe Price. Over the past 10 years, TRVLX returned 11.49%/yr vs 3.90%/yr for PRSNX. At a 0.15 correlation, their price movements are largely independent. Both charge a 0.65% expense ratio.

Performance

TRVLX vs. PRSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Value Fund (TRVLX) and T. Rowe Price Global Multi-Sector Bond Fund (PRSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRVLX achieves a 11.10% return, which is significantly higher than PRSNX's 1.82% return. Over the past 10 years, TRVLX has outperformed PRSNX with an annualized return of 11.49%, while PRSNX has yielded a comparatively lower 3.90% annualized return.

TRVLX

• 1D: -0.71%
• 1M: -0.30%
• YTD: 11.10%
• 6M: 12.09%
• 1Y: 19.90%
• 3Y*: 16.81%
• 5Y*: 8.96%
• 10Y*: 11.49%

PRSNX

• 1D: -0.10%
• 1M: 0.69%
• YTD: 1.82%
• 6M: 2.93%
• 1Y: 7.73%
• 3Y*: 8.29%
• 5Y*: 2.08%
• 10Y*: 3.90%

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

TRVLX vs. PRSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRVLX T. Rowe Price Value Fund	11.10%	12.20%	14.98%	12.16%	-11.37%	29.86%	10.48%	26.20%	-9.44%	17.35%
PRSNX T. Rowe Price Global Multi-Sector Bond Fund	1.82%	9.31%	5.60%	12.77%	-16.27%	0.40%	8.16%	11.94%	0.45%	6.47%

Correlation

The correlation between TRVLX and PRSNX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Dec 17, 2008	0.15

The correlation between TRVLX and PRSNX shifts across timeframes, from 0.13 (10 years) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TRVLX vs. PRSNX — Risk / Return Rank

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

TRVLX

TRVLX Risk / Return Rank: 44
TRVLX Sharpe Ratio Rank: 42
TRVLX Sortino Ratio Rank: 44
TRVLX Omega Ratio Rank: 41
TRVLX Calmar Ratio Rank: 44
TRVLX Martin Ratio Rank: 49

PRSNX

PRSNX Risk / Return Rank: 88
PRSNX Sharpe Ratio Rank: 83
PRSNX Sortino Ratio Rank: 94
PRSNX Omega Ratio Rank: 90
PRSNX Calmar Ratio Rank: 85
PRSNX Martin Ratio Rank: 90

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.

TRVLX vs. PRSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value Fund (TRVLX) and T. Rowe Price Global Multi-Sector Bond Fund (PRSNX). 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.

	TRVLX	PRSNX	Difference
Sharpe ratio Return per unit of total volatility	1.91	2.69	-0.78
Sortino ratio Return per unit of downside risk	2.78	4.84	-2.07
Omega ratio Gain probability vs. loss probability	1.34	1.64	-0.30
Calmar ratio Return relative to maximum drawdown	2.58	4.06	-1.48
Martin ratio Return relative to average drawdown	10.26	18.41	-8.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRVLX vs. PRSNX - Sharpe Ratio Comparison

The current TRVLX Sharpe Ratio is 1.91, which is comparable to the PRSNX Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of TRVLX and PRSNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRVLX	PRSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.69	-0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.49	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.95	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	1.43	-0.83

Drawdowns

TRVLX vs. PRSNX - Drawdown Comparison

The maximum TRVLX drawdown since its inception was -60.22%, which is greater than PRSNX's maximum drawdown of -19.70%. Use the drawdown chart below to compare losses from any high point for TRVLX and PRSNX.

Drawdown Indicators

	TRVLX	PRSNX	Difference
Max Drawdown Largest peak-to-trough decline	-60.22%	-19.70%	-40.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-2.18%	-4.87%
Max Drawdown (3Y) Largest decline over 3 years	-13.01%	-2.87%	-10.14%
Max Drawdown (5Y) Largest decline over 5 years	-20.35%	-19.70%	-0.65%
Max Drawdown (10Y) Largest decline over 10 years	-38.65%	-19.70%	-18.95%
Current Drawdown Current decline from peak	-1.46%	-0.10%	-1.36%
Average Drawdown Average peak-to-trough decline	-7.51%	-2.36%	-5.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	0.48%	+1.29%

Volatility

TRVLX vs. PRSNX - Volatility Comparison

T. Rowe Price Value Fund (TRVLX) has a higher volatility of 2.74% compared to T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) at 0.83%. This indicates that TRVLX's price experiences larger fluctuations and is considered to be riskier than PRSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRVLX	PRSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.74%	0.83%	+1.91%
Volatility (6M) Calculated over the trailing 6-month period	8.54%	2.31%	+6.23%
Volatility (1Y) Calculated over the trailing 1-year period	10.78%	2.89%	+7.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	4.30%	+9.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	4.13%	+13.22%

TRVLX vs. PRSNX - Expense Ratio Comparison

Both TRVLX and PRSNX have an expense ratio of 0.65%.

Dividends

TRVLX vs. PRSNX - Dividend Comparison

TRVLX's dividend yield for the trailing twelve months is around 4.11%, less than PRSNX's 6.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRSNX T. Rowe Price Global Multi-Sector Bond Fund	6.63%	7.87%	6.36%	5.08%	3.30%	3.95%	3.68%	6.33%	4.89%	3.59%	3.44%	3.60%
TRVLX T. Rowe Price Value Fund	4.11%	4.56%	8.50%	2.97%	10.09%	10.92%	2.33%	1.69%	11.09%	5.89%	3.06%	8.77%

Frequently Asked Questions

Can I hold both TRVLX and PRSNX in my portfolio?

TRVLX and PRSNX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRVLX or PRSNX?

TRVLX has higher volatility (2.74%) compared to PRSNX (0.83%). In terms of maximum drawdown, TRVLX dropped -60.22% vs PRSNX's -19.70%.

Which has better risk-adjusted returns?

PRSNX currently has the higher Sharpe Ratio (2.69 vs 1.91), 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.