DAADX vs. COBYX

Last updated Jun 23, 2026

DAADX (DFA Emerging Markets ex China Core Equity Portfolio) and COBYX (The Cook & Bynum Fund) are both Emerging Markets Diversified funds. Over the past 3 years, DAADX returned 26.41%/yr vs 6.69%/yr for COBYX. At a 0.47 correlation, their price movements are largely independent. DAADX charges 0.43%/yr vs 1.49%/yr for COBYX.

Performance

DAADX vs. COBYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Emerging Markets ex China Core Equity Portfolio (DAADX) and The Cook & Bynum Fund (COBYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAADX achieves a 40.41% return, which is significantly higher than COBYX's 9.37% return.

DAADX

• 1D: 3.39%
• 1M: 8.84%
• YTD: 40.41%
• 6M: 43.30%
• 1Y: 65.20%
• 3Y*: 26.41%
• 5Y*: —
• 10Y*: —

COBYX

• 1D: -1.13%
• 1M: -1.99%
• YTD: 9.37%
• 6M: 9.19%
• 1Y: 14.99%
• 3Y*: 6.69%
• 5Y*: 8.29%
• 10Y*: 4.64%

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

DAADX vs. COBYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DAADX DFA Emerging Markets ex China Core Equity Portfolio	40.41%	27.59%	3.44%	24.58%	-15.81%	0.20%
COBYX The Cook & Bynum Fund	9.37%	20.50%	-10.32%	16.73%	9.28%	-0.08%

Correlation

The correlation between DAADX and COBYX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Nov 11, 2021	0.47

The correlation between DAADX and COBYX shifts across timeframes, from 0.30 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DAADX vs. COBYX — Risk / Return Rank

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

DAADX

DAADX Risk / Return Rank: 93
DAADX Sharpe Ratio Rank: 97
DAADX Sortino Ratio Rank: 88
DAADX Omega Ratio Rank: 91
DAADX Calmar Ratio Rank: 94
DAADX Martin Ratio Rank: 94

COBYX

COBYX Risk / Return Rank: 25
COBYX Sharpe Ratio Rank: 24
COBYX Sortino Ratio Rank: 26
COBYX Omega Ratio Rank: 23
COBYX Calmar Ratio Rank: 25
COBYX Martin Ratio Rank: 26

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.

DAADX vs. COBYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets ex China Core Equity Portfolio (DAADX) and The Cook & Bynum Fund (COBYX). 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.

	DAADX	COBYX	Difference
Sharpe ratio: Return per unit of total volatility	3.27	1.32	+1.96
Sortino ratio: Return per unit of downside risk	3.95	1.96	+1.99
Omega ratio: Gain probability vs. loss probability	1.64	1.24	+0.40
Calmar ratio: Return relative to maximum drawdown	4.96	1.75	+3.21
Martin ratio: Return relative to average drawdown	18.83	5.63	+13.20

DAADX vs. COBYX - Sharpe Ratio Comparison

The current DAADX Sharpe Ratio is 3.27, which is higher than the COBYX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of DAADX and COBYX, 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

DAADX vs. COBYX - Drawdown Comparison

The maximum DAADX drawdown since its inception was -24.98%, smaller than the maximum COBYX drawdown of -34.18%. Use the drawdown chart below to compare losses from any high point for DAADX and COBYX.

Drawdown Indicators

	DAADX	COBYX	Difference
Max Drawdown Largest peak-to-trough decline	-24.98%	-34.18%	+9.20%
Max Drawdown (1Y) Largest decline over 1 year	-13.14%	-8.95%	-4.19%
Max Drawdown (3Y) Largest decline over 3 years	-18.78%	-16.29%	-2.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.10%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.18%	—
Current Drawdown Current decline from peak	0.00%	-2.33%	+2.33%
Average Drawdown Average peak-to-trough decline	-6.71%	-6.78%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	2.79%	+0.65%

Volatility

DAADX vs. COBYX - Volatility Comparison

DFA Emerging Markets ex China Core Equity Portfolio (DAADX) has a higher volatility of 10.89% compared to The Cook & Bynum Fund (COBYX) at 3.04%. This indicates that DAADX's price experiences larger fluctuations and is considered to be riskier than COBYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAADX	COBYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.89%	3.04%	+7.85%
Volatility (6M) Calculated over the trailing 6-month period	18.26%	9.54%	+8.72%
Volatility (1Y) Calculated over the trailing 1-year period	19.90%	11.90%	+8.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.19%	13.99%	+1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.19%	13.65%	+1.54%

DAADX vs. COBYX - Expense Ratio Comparison

DAADX has a 0.43% expense ratio, which is lower than COBYX's 1.49% expense ratio.

Dividends

DAADX vs. COBYX - Dividend Comparison

DAADX's dividend yield for the trailing twelve months is around 1.78%, more than COBYX's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
COBYX The Cook & Bynum Fund	1.08%	1.18%	0.00%	1.01%	1.16%	2.18%	0.32%	0.69%	12.60%	1.88%	5.09%
DAADX DFA Emerging Markets ex China Core Equity Portfolio	1.78%	2.28%	2.64%	2.82%	3.02%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DAADX and COBYX in my portfolio?

DAADX and COBYX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAADX or COBYX?

DAADX has higher volatility (10.89%) compared to COBYX (3.04%). In terms of maximum drawdown, DAADX dropped -24.98% vs COBYX's -34.18%.

Which has better risk-adjusted returns?

DAADX currently has the higher Sharpe Ratio (3.27 vs 1.32), 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.