CAAAX vs. DODFX

Last updated Jun 23, 2026

CAAAX (Calvert Growth Allocation Fund) and DODFX (Dodge & Cox International Stock Fund) are both mutual funds - CAAAX is a Diversified Portfolio fund managed by Calvert Research and Management, while DODFX is a Foreign Large Cap Equities fund actively managed by Dodge & Cox. Over the past 10 years, CAAAX returned 10.95%/yr vs 11.04%/yr for DODFX. Their correlation of 0.86 suggests significant overlap in exposure. CAAAX charges 0.43%/yr vs 0.61%/yr for DODFX.

Performance

CAAAX vs. DODFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Growth Allocation Fund (CAAAX) and Dodge & Cox International Stock Fund (DODFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAAAX achieves a 11.54% return, which is significantly lower than DODFX's 13.12% return. Both investments have delivered pretty close results over the past 10 years, with CAAAX having a 10.95% annualized return and DODFX not far ahead at 11.04%.

CAAAX

• 1D: 1.39%
• 1M: 2.91%
• YTD: 11.54%
• 6M: 11.32%
• 1Y: 24.23%
• 3Y*: 14.85%
• 5Y*: 7.88%
• 10Y*: 10.95%

DODFX

• 1D: 0.54%
• 1M: 2.65%
• YTD: 13.12%
• 6M: 13.74%
• 1Y: 32.34%
• 3Y*: 19.57%
• 5Y*: 11.96%
• 10Y*: 11.04%

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

CAAAX vs. DODFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAAAX Calvert Growth Allocation Fund	11.54%	14.93%	12.56%	15.14%	-18.26%	16.67%	18.55%	27.33%	-7.73%	20.27%
DODFX Dodge & Cox International Stock Fund	13.12%	38.77%	3.74%	16.70%	-6.78%	10.99%	5.15%	22.79%	-18.01%	23.95%

Correlation

The correlation between CAAAX and DODFX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 30, 2005	0.86

The correlation between CAAAX and DODFX has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

CAAAX vs. DODFX — Risk / Return Rank

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

CAAAX

CAAAX Risk / Return Rank: 52
CAAAX Sharpe Ratio Rank: 52
CAAAX Sortino Ratio Rank: 52
CAAAX Omega Ratio Rank: 49
CAAAX Calmar Ratio Rank: 49
CAAAX Martin Ratio Rank: 59

DODFX

DODFX Risk / Return Rank: 65
DODFX Sharpe Ratio Rank: 73
DODFX Sortino Ratio Rank: 66
DODFX Omega Ratio Rank: 71
DODFX Calmar Ratio Rank: 60
DODFX Martin Ratio Rank: 57

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.

CAAAX vs. DODFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Growth Allocation Fund (CAAAX) and Dodge & Cox International Stock Fund (DODFX). 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.

	CAAAX	DODFX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.29	-0.33
Sortino ratio: Return per unit of downside risk	2.76	3.07	-0.31
Omega ratio: Gain probability vs. loss probability	1.35	1.43	-0.07
Calmar ratio: Return relative to maximum drawdown	2.56	2.84	-0.28
Martin ratio: Return relative to average drawdown	11.09	10.78	+0.31

CAAAX vs. DODFX - Sharpe Ratio Comparison

The current CAAAX Sharpe Ratio is 1.96, which is comparable to the DODFX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of CAAAX and DODFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CAAAX vs. DODFX - Drawdown Comparison

The maximum CAAAX drawdown since its inception was -53.45%, smaller than the maximum DODFX drawdown of -63.23%. Use the drawdown chart below to compare losses from any high point for CAAAX and DODFX.

Drawdown Indicators

	CAAAX	DODFX	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-63.23%	+9.78%
Max Drawdown (1Y) Largest decline over 1 year	-9.39%	-11.14%	+1.75%
Max Drawdown (3Y) Largest decline over 3 years	-15.37%	-14.41%	-0.96%
Max Drawdown (5Y) Largest decline over 5 years	-25.90%	-24.52%	-1.38%
Max Drawdown (10Y) Largest decline over 10 years	-32.59%	-44.61%	+12.02%
Current Drawdown Current decline from peak	-0.03%	-0.16%	+0.13%
Average Drawdown Average peak-to-trough decline	-8.24%	-11.64%	+3.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.92%	-0.76%

Volatility

CAAAX vs. DODFX - Volatility Comparison

The current volatility for Calvert Growth Allocation Fund (CAAAX) is 5.01%, while Dodge & Cox International Stock Fund (DODFX) has a volatility of 5.49%. This indicates that CAAAX experiences smaller price fluctuations and is considered to be less risky than DODFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAAAX	DODFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	5.49%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	11.93%	-1.66%
Volatility (1Y) Calculated over the trailing 1-year period	12.25%	13.81%	-1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.26%	16.01%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.55%	18.21%	-2.66%

CAAAX vs. DODFX - Expense Ratio Comparison

CAAAX has a 0.43% expense ratio, which is lower than DODFX's 0.61% expense ratio.

Dividends

CAAAX vs. DODFX - Dividend Comparison

CAAAX's dividend yield for the trailing twelve months is around 3.59%, less than DODFX's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAAAX Calvert Growth Allocation Fund	3.59%	4.00%	2.50%	4.47%	2.81%	3.68%	3.34%	3.53%	6.44%	5.57%	5.13%	15.27%
DODFX Dodge & Cox International Stock Fund	4.47%	5.05%	2.25%	2.29%	2.23%	2.49%	4.21%	3.93%	2.93%	1.93%	3.66%	2.30%

Frequently Asked Questions

Can I hold both CAAAX and DODFX in my portfolio?

CAAAX and DODFX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAAAX or DODFX?

DODFX has higher volatility (5.49%) compared to CAAAX (5.01%). In terms of maximum drawdown, CAAAX dropped -53.45% vs DODFX's -63.23%.

Which has better risk-adjusted returns?

DODFX currently has the higher Sharpe Ratio (2.29 vs 1.96), 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.