DFCF vs. IBGA
DFCF (Dimensional Core Fixed Income ETF) and IBGA (iShares iBonds Dec 2044 Term Treasury ETF) are both Intermediate Core Bond funds. DFCF is actively managed, while IBGA is passively managed. Over the past year, DFCF returned 2.24% vs -1.15% for IBGA. Their correlation of 0.92 means they have usually moved in the same direction. DFCF charges 0.17%/yr vs 0.07%/yr for IBGA.
Performance
DFCF vs. IBGA - Performance Comparison
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Returns By Period
In the year-to-date period, DFCF achieves a -0.42% return, which is significantly higher than IBGA's -2.95% return.
DFCF
- 1D
- -0.29%
- 1M
- -1.24%
- 6M
- -0.68%
- YTD
- -0.42%
- 1Y
- 2.24%
- 3Y*
- 4.66%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.03%
IBGA
- 1D
- -0.67%
- 1M
- -3.25%
- 6M
- -3.11%
- YTD
- -2.95%
- 1Y
- -1.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $59.72M | $50.71M | $53.37M | |
| $314.51K | $271.73K | $362.95K |
DFCF vs. IBGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DFCF Dimensional Core Fixed Income ETF | -0.42% | 7.89% | 2.23% |
IBGA iShares iBonds Dec 2044 Term Treasury ETF | -2.95% | 6.09% | -2.18% |
Correlation
The correlation between DFCF and IBGA is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2024 | 0.92 |
The correlation between DFCF and IBGA has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.
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Return for Risk
DFCF vs. IBGA — Risk / Return Rank
DFCF
IBGA
DFCF vs. IBGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Core Fixed Income ETF (DFCF) and iShares iBonds Dec 2044 Term Treasury ETF (IBGA). 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.
| DFCF | IBGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.01 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 0.02 | +1.06 |
| Martin ratioReturn relative to average drawdown | 2.76 | 0.05 | +2.71 |
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Drawdowns
DFCF vs. IBGA - Drawdown Comparison
The maximum DFCF drawdown since its inception was -19.56%, which is greater than IBGA's maximum drawdown of -11.69%. Use the drawdown chart below to compare losses from any high point for DFCF and IBGA.
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Drawdown Indicators
| DFCF | IBGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.56% | -11.69% | -7.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -6.60% | +3.81% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | — | — |
Current DrawdownCurrent decline from peak | -2.24% | -7.14% | +4.90% |
Average DrawdownAverage peak-to-trough decline | -7.81% | -5.02% | -2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 2.90% | -1.81% |
Volatility
DFCF vs. IBGA - Volatility Comparison
The current volatility for Dimensional Core Fixed Income ETF (DFCF) is 1.08%, while iShares iBonds Dec 2044 Term Treasury ETF (IBGA) has a volatility of 2.09%. This indicates that DFCF experiences smaller price fluctuations and is considered to be less risky than IBGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFCF | IBGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 2.09% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 6.05% | -2.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 7.88% | -3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 9.74% | -3.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.40% | 9.74% | -3.34% |
DFCF vs. IBGA - Expense Ratio Comparison
DFCF has a 0.17% expense ratio, which is higher than IBGA's 0.07% 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
DFCF vs. IBGA - Dividend Comparison
DFCF's dividend yield for the trailing twelve months is around 4.41%, less than IBGA's 4.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DFCF Dimensional Core Fixed Income ETF | 4.41% | 4.48% | 4.61% | 4.51% | 3.27% | 0.16% |
IBGA iShares iBonds Dec 2044 Term Treasury ETF | 4.39% | 4.49% | 2.03% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, DFCF and IBGA 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.
IBGA has higher volatility (2.09%) compared to DFCF (1.08%). In terms of maximum drawdown, DFCF dropped -19.56% vs IBGA's -11.69%.
On 1-year performance, DFCF leads with 2.24% vs -1.15% for IBGA. On fees, IBGA is cheaper at 0.07% per year. On volatility, DFCF has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DFCF has performed better with a 2.24% return vs -1.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGA is cheaper with a 0.07% expense ratio, compared with 0.17% for DFCF.
DFCF has the higher dividend yield at 4.41%, compared with 4.39% for IBGA.
They also come from different issuers: Dimensional and iShares. Their fees differ too: 0.17% for DFCF and 0.07% for IBGA.
DFCF currently has the higher Sharpe Ratio (0.76 vs 0.02), 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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