DFAPX vs. IBDR
DFAPX (DFA Investment Grade Portfolio) and IBDR (iShares iBonds Dec 2026 Term Corporate ETF) are both funds - DFAPX is a Intermediate Core Bond fund managed by Dimensional, while IBDR is a Corporate Bonds fund tracking the Barclays December 2026 Maturity Corporate Index. Over the past 5 years, DFAPX returned 0.63%/yr vs 1.50%/yr for IBDR. A 0.66 correlation means they provide meaningful diversification when combined. DFAPX charges 0.20%/yr vs 0.10%/yr for IBDR.
Performance
DFAPX vs. IBDR - Performance Comparison
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Returns By Period
In the year-to-date period, DFAPX achieves a 0.65% return, which is significantly lower than IBDR's 1.44% return.
DFAPX
- 1D
- 0.10%
- 1M
- 0.69%
- YTD
- 0.65%
- 6M
- 0.43%
- 1Y
- 5.47%
- 3Y*
- 4.56%
- 5Y*
- 0.63%
- 10Y*
- 2.03%
IBDR
- 1D
- -0.04%
- 1M
- 0.25%
- YTD
- 1.44%
- 6M
- 1.80%
- 1Y
- 4.38%
- 3Y*
- 5.07%
- 5Y*
- 1.50%
- 10Y*
- —
DFAPX vs. IBDR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFAPX DFA Investment Grade Portfolio | 0.65% | 7.22% | 1.81% | 6.84% | -12.92% | -1.57% | 9.19% | 9.97% | -0.24% | 3.37% |
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 1.44% | 4.99% | 4.98% | 5.96% | -8.28% | -1.79% | 8.88% | 14.81% | -2.80% | 5.96% |
Correlation
The correlation between DFAPX and IBDR is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2016 | 0.66 |
Over the past year, the correlation between DFAPX and IBDR has dropped to 0.12 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.
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Return for Risk
DFAPX vs. IBDR — Risk / Return Rank
DFAPX
IBDR
DFAPX vs. IBDR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Investment Grade Portfolio (DFAPX) and iShares iBonds Dec 2026 Term Corporate ETF (IBDR). 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.
| DFAPX | IBDR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.48 | ||
| Sortino ratioReturn per unit of downside risk | -12.40 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 3.40 | -2.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 53.28 | -51.17 |
| Martin ratioReturn relative to average drawdown | 6.04 | 185.24 | -179.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFAPX | IBDR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 6.93 | -5.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.44 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.61 | -0.12 |
Drawdowns
DFAPX vs. IBDR - Drawdown Comparison
The maximum DFAPX drawdown since its inception was -18.30%, which is greater than IBDR's maximum drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for DFAPX and IBDR.
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Drawdown Indicators
| DFAPX | IBDR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.30% | -16.06% | -2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -0.08% | -2.58% |
Max Drawdown (3Y)Largest decline over 3 years | -4.74% | -1.08% | -3.66% |
Max Drawdown (5Y)Largest decline over 5 years | -18.22% | -13.13% | -5.09% |
Max Drawdown (10Y)Largest decline over 10 years | -18.30% | — | — |
Current DrawdownCurrent decline from peak | -1.20% | -0.04% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -2.84% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.02% | +0.91% |
Volatility
DFAPX vs. IBDR - Volatility Comparison
DFA Investment Grade Portfolio (DFAPX) has a higher volatility of 1.32% compared to iShares iBonds Dec 2026 Term Corporate ETF (IBDR) at 0.15%. This indicates that DFAPX's price experiences larger fluctuations and is considered to be riskier than IBDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFAPX | IBDR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 0.15% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 0.34% | +2.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.90% | 0.64% | +3.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.82% | 3.40% | +2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 4.86% | +0.02% |
DFAPX vs. IBDR - Expense Ratio Comparison
DFAPX has a 0.20% expense ratio, which is higher than IBDR's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DFAPX vs. IBDR - Dividend Comparison
DFAPX's dividend yield for the trailing twelve months is around 3.74%, less than IBDR's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFAPX DFA Investment Grade Portfolio | 3.74% | 3.78% | 3.79% | 3.31% | 2.62% | 3.31% | 2.14% | 2.59% | 2.67% | 2.21% | 2.12% | 2.45% |
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 4.13% | 4.20% | 4.13% | 3.41% | 2.44% | 2.11% | 2.61% | 3.25% | 3.56% | 3.22% | 0.86% | 0.00% |
Frequently Asked Questions
DFAPX and IBDR have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFAPX has higher volatility (1.32%) compared to IBDR (0.15%). In terms of maximum drawdown, DFAPX dropped -18.30% vs IBDR's -16.06%.
IBDR currently has the higher Sharpe Ratio (6.93 vs 1.45), 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.
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