TTRZX vs. STBNX

Last updated Jun 5, 2026

TTRZX (Templeton Global Total Return Fund) and STBNX (Sierra Tactical Bond Fund) are both Nontraditional Bonds funds. Over the past 5 years, TTRZX returned -0.23%/yr vs 1.55%/yr for STBNX. At a 0.42 correlation, their price movements are largely independent. TTRZX charges 0.89%/yr vs 1.63%/yr for STBNX.

Performance

TTRZX vs. STBNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Templeton Global Total Return Fund (TTRZX) and Sierra Tactical Bond Fund (STBNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TTRZX achieves a 1.77% return, which is significantly higher than STBNX's 0.83% return.

TTRZX

• 1D: -0.58%
• 1M: -0.41%
• YTD: 1.77%
• 6M: 2.49%
• 1Y: 8.74%
• 3Y*: 6.37%
• 5Y*: -0.23%
• 10Y*: 1.07%

STBNX

• 1D: -0.24%
• 1M: 0.12%
• YTD: 0.83%
• 6M: 1.13%
• 1Y: 5.04%
• 3Y*: 3.91%
• 5Y*: 1.55%
• 10Y*: —

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

TTRZX vs. STBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TTRZX Templeton Global Total Return Fund	1.77%	18.26%	-6.61%	6.28%	-12.29%	-5.14%	-5.58%	1.85%
STBNX Sierra Tactical Bond Fund	0.83%	-0.37%	6.36%	6.76%	-4.47%	1.11%	15.56%	2.41%

Correlation

The correlation between TTRZX and STBNX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019	0.42

Over the past year, TTRZX and STBNX have become more correlated (0.62) than their long-term average of 0.42, meaning their price movements have been converging.

Return for Risk

TTRZX vs. STBNX — Risk / Return Rank

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

TTRZX

TTRZX Risk / Return Rank: 20
TTRZX Sharpe Ratio Rank: 21
TTRZX Sortino Ratio Rank: 21
TTRZX Omega Ratio Rank: 22
TTRZX Calmar Ratio Rank: 16
TTRZX Martin Ratio Rank: 19

STBNX

STBNX Risk / Return Rank: 41
STBNX Sharpe Ratio Rank: 38
STBNX Sortino Ratio Rank: 41
STBNX Omega Ratio Rank: 41
STBNX Calmar Ratio Rank: 35
STBNX Martin Ratio Rank: 48

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.

TTRZX vs. STBNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Global Total Return Fund (TTRZX) and Sierra Tactical Bond Fund (STBNX). 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.

	TTRZX	STBNX	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.74	-0.46
Sortino ratio: Return per unit of downside risk	1.86	2.62	-0.76
Omega ratio: Gain probability vs. loss probability	1.24	1.33	-0.09
Calmar ratio: Return relative to maximum drawdown	1.36	2.16	-0.81
Martin ratio: Return relative to average drawdown	4.79	9.81	-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.

TTRZX vs. STBNX - Sharpe Ratio Comparison

The current TTRZX Sharpe Ratio is 1.28, which is comparable to the STBNX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of TTRZX and STBNX, 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

	TTRZX	STBNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	1.74	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.39	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.82	-0.35

Drawdowns

TTRZX vs. STBNX - Drawdown Comparison

The maximum TTRZX drawdown since its inception was -33.17%, which is greater than STBNX's maximum drawdown of -8.04%. Use the drawdown chart below to compare losses from any high point for TTRZX and STBNX.

Drawdown Indicators

	TTRZX	STBNX	Difference
Max Drawdown Largest peak-to-trough decline	-33.17%	-8.04%	-25.13%
Max Drawdown (1Y) Largest decline over 1 year	-6.95%	-2.44%	-4.51%
Max Drawdown (3Y) Largest decline over 3 years	-11.49%	-6.96%	-4.53%
Max Drawdown (5Y) Largest decline over 5 years	-27.73%	-8.04%	-19.69%
Max Drawdown (10Y) Largest decline over 10 years	-33.17%	—	—
Current Drawdown Current decline from peak	-8.87%	-1.17%	-7.70%
Average Drawdown Average peak-to-trough decline	-7.61%	-2.64%	-4.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	0.54%	+1.42%

Volatility

TTRZX vs. STBNX - Volatility Comparison

Templeton Global Total Return Fund (TTRZX) has a higher volatility of 2.28% compared to Sierra Tactical Bond Fund (STBNX) at 0.96%. This indicates that TTRZX's price experiences larger fluctuations and is considered to be riskier than STBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TTRZX	STBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	0.96%	+1.32%
Volatility (6M) Calculated over the trailing 6-month period	6.14%	2.38%	+3.76%
Volatility (1Y) Calculated over the trailing 1-year period	7.38%	3.03%	+4.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.22%	3.97%	+5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.92%	4.95%	+2.97%

TTRZX vs. STBNX - Expense Ratio Comparison

TTRZX has a 0.89% expense ratio, which is lower than STBNX's 1.63% expense ratio.

Dividends

TTRZX vs. STBNX - Dividend Comparison

TTRZX's dividend yield for the trailing twelve months is around 6.96%, more than STBNX's 5.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
STBNX Sierra Tactical Bond Fund	5.26%	4.98%	5.17%	4.53%	1.41%	2.74%	6.55%	0.87%	0.00%	0.00%	0.00%	0.00%
TTRZX Templeton Global Total Return Fund	6.96%	5.57%	8.19%	5.95%	7.54%	8.18%	4.84%	6.96%	5.55%	3.54%	2.94%	4.31%

Frequently Asked Questions

Can I hold both TTRZX and STBNX in my portfolio?

TTRZX and STBNX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TTRZX or STBNX?

TTRZX has higher volatility (2.28%) compared to STBNX (0.96%). In terms of maximum drawdown, TTRZX dropped -33.17% vs STBNX's -8.04%.

Which has better risk-adjusted returns?

STBNX currently has the higher Sharpe Ratio (1.74 vs 1.28), 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.