DFGBX vs. TIBWX

Last updated Jun 4, 2026

DFGBX (DFA Five Year Global Fixed Income Portfolio) and TIBWX (TIAA-CREF International Bond Fund) are both Global Bonds funds. Over the past 5 years, DFGBX returned 1.26%/yr vs 1.11%/yr for TIBWX. At a 0.48 correlation, their price movements are largely independent. DFGBX charges 0.23%/yr vs 0.59%/yr for TIBWX.

Performance

DFGBX vs. TIBWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Five Year Global Fixed Income Portfolio (DFGBX) and TIAA-CREF International Bond Fund (TIBWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFGBX achieves a 1.25% return, which is significantly higher than TIBWX's 0.68% return.

DFGBX

• 1D: 0.10%
• 1M: 0.70%
• YTD: 1.25%
• 6M: 1.33%
• 1Y: 2.48%
• 3Y*: 4.23%
• 5Y*: 1.26%
• 10Y*: 1.28%

TIBWX

• 1D: 0.11%
• 1M: 0.90%
• YTD: 0.68%
• 6M: 0.64%
• 1Y: 3.28%
• 3Y*: 5.11%
• 5Y*: 1.11%
• 10Y*: —

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

DFGBX vs. TIBWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFGBX DFA Five Year Global Fixed Income Portfolio	1.25%	3.13%	5.37%	5.00%	-6.63%	-1.03%	1.52%	4.04%	1.68%	0.88%
TIBWX TIAA-CREF International Bond Fund	0.68%	4.24%	4.60%	9.06%	-11.39%	-2.19%	4.81%	9.96%	0.39%	5.66%

Correlation

The correlation between DFGBX and TIBWX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.48

The correlation between DFGBX and TIBWX shifts across timeframes, from 0.25 (3 years) to 0.63 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DFGBX vs. TIBWX — Risk / Return Rank

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

DFGBX

DFGBX Risk / Return Rank: 26
DFGBX Sharpe Ratio Rank: 22
DFGBX Sortino Ratio Rank: 16
DFGBX Omega Ratio Rank: 51
DFGBX Calmar Ratio Rank: 24
DFGBX Martin Ratio Rank: 18

TIBWX

TIBWX Risk / Return Rank: 17
TIBWX Sharpe Ratio Rank: 20
TIBWX Sortino Ratio Rank: 19
TIBWX Omega Ratio Rank: 24
TIBWX Calmar Ratio Rank: 12
TIBWX Martin Ratio Rank: 12

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.

DFGBX vs. TIBWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Five Year Global Fixed Income Portfolio (DFGBX) and TIAA-CREF International Bond Fund (TIBWX). 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.

	DFGBX	TIBWX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.27	+0.06
Sortino ratio: Return per unit of downside risk	1.68	1.84	-0.17
Omega ratio: Gain probability vs. loss probability	1.39	1.26	+0.14
Calmar ratio: Return relative to maximum drawdown	1.82	1.10	+0.72
Martin ratio: Return relative to average drawdown	4.95	3.48	+1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFGBX vs. TIBWX - Sharpe Ratio Comparison

The current DFGBX Sharpe Ratio is 1.34, which is comparable to the TIBWX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of DFGBX and TIBWX, 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

	DFGBX	TIBWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	1.27	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.33	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.78	-0.04

Drawdowns

DFGBX vs. TIBWX - Drawdown Comparison

The maximum DFGBX drawdown since its inception was -9.63%, smaller than the maximum TIBWX drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for DFGBX and TIBWX.

Drawdown Indicators

	DFGBX	TIBWX	Difference
Max Drawdown Largest peak-to-trough decline	-9.63%	-16.47%	+6.84%
Max Drawdown (1Y) Largest decline over 1 year	-1.38%	-2.99%	+1.61%
Max Drawdown (3Y) Largest decline over 3 years	-1.67%	-2.99%	+1.32%
Max Drawdown (5Y) Largest decline over 5 years	-9.63%	-16.06%	+6.43%
Max Drawdown (10Y) Largest decline over 10 years	-9.63%	—	—
Current Drawdown Current decline from peak	-0.10%	-1.11%	+1.01%
Average Drawdown Average peak-to-trough decline	-0.93%	-3.26%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	0.95%	-0.45%

Volatility

DFGBX vs. TIBWX - Volatility Comparison

The current volatility for DFA Five Year Global Fixed Income Portfolio (DFGBX) is 0.58%, while TIAA-CREF International Bond Fund (TIBWX) has a volatility of 1.05%. This indicates that DFGBX experiences smaller price fluctuations and is considered to be less risky than TIBWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFGBX	TIBWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	1.05%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	1.31%	2.25%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	1.88%	2.59%	-0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.20%	3.39%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.93%	3.31%	-1.38%

DFGBX vs. TIBWX - Expense Ratio Comparison

DFGBX has a 0.23% expense ratio, which is lower than TIBWX's 0.59% expense ratio.

Dividends

DFGBX vs. TIBWX - Dividend Comparison

DFGBX's dividend yield for the trailing twelve months is around 3.43%, more than TIBWX's 1.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGBX DFA Five Year Global Fixed Income Portfolio	3.43%	2.91%	4.69%	3.61%	1.63%	0.73%	0.03%	2.30%	4.74%	0.89%	1.16%	1.72%
TIBWX TIAA-CREF International Bond Fund	1.52%	1.53%	1.95%	0.24%	11.88%	2.03%	2.75%	5.40%	3.93%	1.47%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFGBX and TIBWX in my portfolio?

DFGBX and TIBWX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFGBX or TIBWX?

TIBWX has higher volatility (1.05%) compared to DFGBX (0.58%). In terms of maximum drawdown, DFGBX dropped -9.63% vs TIBWX's -16.47%.

Which has better risk-adjusted returns?

DFGBX currently has the higher Sharpe Ratio (1.34 vs 1.27), 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.