DFAPX vs. QDVBX

Last updated Jun 4, 2026

DFAPX (DFA Investment Grade Portfolio) and QDVBX (Fisher Investments Institutional Group ESG Fixed Income Fund for Retirement Plans) are both Intermediate Core Bond funds. Over the past 5 years, DFAPX returned 0.63%/yr vs 0.08%/yr for QDVBX. Their correlation of 0.90 suggests significant overlap in exposure. DFAPX charges 0.20%/yr vs 0.04%/yr for QDVBX.

Performance

DFAPX vs. QDVBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Investment Grade Portfolio (DFAPX) and Fisher Investments Institutional Group ESG Fixed Income Fund for Retirement Plans (QDVBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

QDVBX

• 1D: 0.11%
• 1M: 0.23%
• YTD: 0.00%
• 6M: -0.11%
• 1Y: 4.80%
• 3Y*: 4.32%
• 5Y*: 0.08%
• 10Y*: —

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

DFAPX vs. QDVBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DFAPX DFA Investment Grade Portfolio	0.65%	7.22%	1.81%	6.84%	-12.92%	-1.57%	9.19%	-0.23%
QDVBX Fisher Investments Institutional Group ESG Fixed Income Fund for Retirement Plans	-0.00%	7.64%	1.62%	6.37%	-14.31%	-0.37%	6.70%	-0.10%

Correlation

The correlation between DFAPX and QDVBX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 16, 2019	0.90

The correlation between DFAPX and QDVBX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

DFAPX vs. QDVBX — Risk / Return Rank

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

DFAPX

DFAPX Risk / Return Rank: 27
DFAPX Sharpe Ratio Rank: 26
DFAPX Sortino Ratio Rank: 28
DFAPX Omega Ratio Rank: 25
DFAPX Calmar Ratio Rank: 32
DFAPX Martin Ratio Rank: 24

QDVBX

QDVBX Risk / Return Rank: 20
QDVBX Sharpe Ratio Rank: 20
QDVBX Sortino Ratio Rank: 21
QDVBX Omega Ratio Rank: 19
QDVBX Calmar Ratio Rank: 20
QDVBX Martin Ratio Rank: 19

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.

DFAPX vs. QDVBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Investment Grade Portfolio (DFAPX) and Fisher Investments Institutional Group ESG Fixed Income Fund for Retirement Plans (QDVBX). 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	QDVBX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.29	+0.16
Sortino ratio: Return per unit of downside risk	2.19	1.96	+0.23
Omega ratio: Gain probability vs. loss probability	1.26	1.23	+0.03
Calmar ratio: Return relative to maximum drawdown	2.12	1.65	+0.47
Martin ratio: Return relative to average drawdown	6.04	5.12	+0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAPX vs. QDVBX - Sharpe Ratio Comparison

The current DFAPX Sharpe Ratio is 1.45, which is comparable to the QDVBX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of DFAPX and QDVBX, 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

	DFAPX	QDVBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	1.29	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.01	+0.10
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	0.14	+0.34

Drawdowns

DFAPX vs. QDVBX - Drawdown Comparison

The maximum DFAPX drawdown since its inception was -18.30%, smaller than the maximum QDVBX drawdown of -19.86%. Use the drawdown chart below to compare losses from any high point for DFAPX and QDVBX.

Drawdown Indicators

	DFAPX	QDVBX	Difference
Max Drawdown Largest peak-to-trough decline	-18.30%	-19.86%	+1.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-3.00%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-4.74%	-5.37%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-18.22%	-19.86%	+1.64%
Max Drawdown (10Y) Largest decline over 10 years	-18.30%	—	—
Current Drawdown Current decline from peak	-1.20%	-2.09%	+0.89%
Average Drawdown Average peak-to-trough decline	-3.47%	-6.68%	+3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.96%	-0.03%

Volatility

DFAPX vs. QDVBX - Volatility Comparison

DFA Investment Grade Portfolio (DFAPX) and Fisher Investments Institutional Group ESG Fixed Income Fund for Retirement Plans (QDVBX) have volatilities of 1.32% and 1.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAPX	QDVBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.27%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	2.58%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.90%	3.86%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.82%	6.61%	-0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	6.23%	-1.35%

DFAPX vs. QDVBX - Expense Ratio Comparison

DFAPX has a 0.20% expense ratio, which is higher than QDVBX's 0.04% 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. QDVBX - Dividend Comparison

DFAPX's dividend yield for the trailing twelve months is around 3.74%, more than QDVBX's 3.51% 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%
QDVBX Fisher Investments Institutional Group ESG Fixed Income Fund for Retirement Plans	3.51%	3.51%	3.52%	3.66%	2.56%	1.70%	3.28%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFAPX and QDVBX in my portfolio?

With a correlation of 0.90, DFAPX and QDVBX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DFAPX or QDVBX?

DFAPX has higher volatility (1.32%) compared to QDVBX (1.27%). In terms of maximum drawdown, DFAPX dropped -18.30% vs QDVBX's -19.86%.

Which has better risk-adjusted returns?

DFAPX currently has the higher Sharpe Ratio (1.45 vs 1.29), 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.