DFGP vs. DGCB

Last updated Jun 23, 2026

DFGP (Dimensional Global Core Plus Fixed Income ETF) and DGCB (Dimensional Global Credit ETF) are both Global Bonds funds from Dimensional. Both are actively managed. Over the past year, DFGP returned 4.86% vs 5.32% for DGCB. Their correlation of 0.93 suggests significant overlap in exposure. DFGP charges 0.22%/yr vs 0.20%/yr for DGCB.

Performance

DFGP vs. DGCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Core Plus Fixed Income ETF (DFGP) and Dimensional Global Credit ETF (DGCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DFGP having a 1.53% return and DGCB slightly lower at 1.47%.

DFGP

• 1D: -0.17%
• 1M: 0.95%
• YTD: 1.53%
• 6M: 1.68%
• 1Y: 4.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DGCB

• 1D: -0.19%
• 1M: 0.78%
• YTD: 1.47%
• 6M: 1.75%
• 1Y: 5.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFGP vs. DGCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFGP Dimensional Global Core Plus Fixed Income ETF	1.53%	5.89%	3.71%	6.23%
DGCB Dimensional Global Credit ETF	1.47%	6.68%	3.80%	6.14%

Correlation

The correlation between DFGP and DGCB is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	0.93

The correlation between DFGP and DGCB has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

DFGP vs. DGCB — Risk / Return Rank

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

DFGP

DFGP Risk / Return Rank: 34
DFGP Sharpe Ratio Rank: 35
DFGP Sortino Ratio Rank: 35
DFGP Omega Ratio Rank: 34
DFGP Calmar Ratio Rank: 31
DFGP Martin Ratio Rank: 35

DGCB

DGCB Risk / Return Rank: 38
DGCB Sharpe Ratio Rank: 39
DGCB Sortino Ratio Rank: 39
DGCB Omega Ratio Rank: 37
DGCB Calmar Ratio Rank: 36
DGCB Martin Ratio Rank: 39

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.

DFGP vs. DGCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Core Plus Fixed Income ETF (DFGP) and Dimensional Global Credit ETF (DGCB). 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.

	DFGP	DGCB	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.34	-0.12
Sortino ratio: Return per unit of downside risk	1.78	1.96	-0.18
Omega ratio: Gain probability vs. loss probability	1.22	1.24	-0.02
Calmar ratio: Return relative to maximum drawdown	1.51	1.74	-0.23
Martin ratio: Return relative to average drawdown	5.06	6.05	-0.99

DFGP vs. DGCB - Sharpe Ratio Comparison

The current DFGP Sharpe Ratio is 1.22, which is comparable to the DGCB Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of DFGP and DGCB, 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

DFGP vs. DGCB - Drawdown Comparison

The maximum DFGP drawdown since its inception was -3.24%, smaller than the maximum DGCB drawdown of -3.50%. Use the drawdown chart below to compare losses from any high point for DFGP and DGCB.

Drawdown Indicators

	DFGP	DGCB	Difference
Max Drawdown Largest peak-to-trough decline	-3.24%	-3.50%	+0.26%
Max Drawdown (1Y) Largest decline over 1 year	-3.24%	-3.08%	-0.16%
Current Drawdown Current decline from peak	-0.53%	-0.41%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.78%	-0.80%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.88%	+0.08%

Volatility

DFGP vs. DGCB - Volatility Comparison

Dimensional Global Core Plus Fixed Income ETF (DFGP) and Dimensional Global Credit ETF (DGCB) have volatilities of 1.20% and 1.20%, 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

	DFGP	DGCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	1.20%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	3.36%	3.31%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.01%	3.98%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.65%	4.81%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.65%	4.81%	-0.16%

DFGP vs. DGCB - Expense Ratio Comparison

DFGP has a 0.22% expense ratio, which is higher than DGCB's 0.20% 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

DFGP vs. DGCB - Dividend Comparison

DFGP's dividend yield for the trailing twelve months is around 3.63%, more than DGCB's 3.21% yield.

Position	TTM	2025	2024	2023
DFGP Dimensional Global Core Plus Fixed Income ETF	3.63%	3.45%	4.51%	0.62%
DGCB Dimensional Global Credit ETF	3.21%	3.43%	4.72%	0.63%

Frequently Asked Questions

Can I hold both DFGP and DGCB in my portfolio?

With a correlation of 0.96, DFGP and DGCB 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, DFGP or DGCB?

DGCB has higher volatility (1.20%) compared to DFGP (1.20%). In terms of maximum drawdown, DFGP dropped -3.24% vs DGCB's -3.50%.

Which ETF is better, DFGP or DGCB?

On 1-year performance, DGCB leads with 5.32% vs 4.86% for DFGP. On fees, DGCB is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFGP or DGCB?

Over the 1-year period, DGCB has performed better with a 5.32% return vs 4.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFGP or DGCB?

DGCB is cheaper with a 0.20% expense ratio, compared with 0.22% for DFGP.

Which ETF pays a higher dividend yield, DFGP or DGCB?

DFGP has the higher dividend yield at 3.63%, compared with 3.21% for DGCB.

What is the main difference between DFGP and DGCB?

Their fees differ too: 0.22% for DFGP and 0.20% for DGCB.

Which has better risk-adjusted returns?

DGCB currently has the higher Sharpe Ratio (1.34 vs 1.22), 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.