DFIP vs. DGCB

Last updated Jun 23, 2026

DFIP (Dimensional Inflation-Protected Securities ETF) and DGCB (Dimensional Global Credit ETF) are both exchange-traded funds - DFIP is a Inflation-Protected Bonds fund actively managed by Dimensional, while DGCB is a Global Bonds fund actively managed by Dimensional. Both are actively managed. Over the past year, DFIP returned 3.57% vs 5.32% for DGCB. A 0.79 correlation means they provide meaningful diversification when combined. DFIP charges 0.11%/yr vs 0.20%/yr for DGCB.

Performance

DFIP vs. DGCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Inflation-Protected Securities ETF (DFIP) and Dimensional Global Credit ETF (DGCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFIP achieves a 0.72% return, which is significantly lower than DGCB's 1.47% return.

DFIP

• 1D: -0.44%
• 1M: -0.20%
• YTD: 0.72%
• 6M: 0.83%
• 1Y: 3.57%
• 3Y*: 3.87%
• 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)

DFIP vs. DGCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFIP Dimensional Inflation-Protected Securities ETF	0.72%	7.54%	1.72%	3.62%
DGCB Dimensional Global Credit ETF	1.47%	6.68%	3.80%	6.14%

Correlation

The correlation between DFIP and DGCB is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	0.79

The correlation between DFIP and DGCB has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

Return for Risk

DFIP vs. DGCB — Risk / Return Rank

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

DFIP

DFIP Risk / Return Rank: 31
DFIP Sharpe Ratio Rank: 29
DFIP Sortino Ratio Rank: 29
DFIP Omega Ratio Rank: 27
DFIP Calmar Ratio Rank: 36
DFIP 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.

DFIP vs. DGCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Inflation-Protected Securities ETF (DFIP) 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.

	DFIP	DGCB	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.34	-0.32
Sortino ratio: Return per unit of downside risk	1.54	1.96	-0.42
Omega ratio: Gain probability vs. loss probability	1.18	1.24	-0.06
Calmar ratio: Return relative to maximum drawdown	1.74	1.74	+0.01
Martin ratio: Return relative to average drawdown	5.15	6.05	-0.90

DFIP vs. DGCB - Sharpe Ratio Comparison

The current DFIP Sharpe Ratio is 1.03, which is comparable to the DGCB Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of DFIP 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

DFIP vs. DGCB - Drawdown Comparison

The maximum DFIP drawdown since its inception was -14.96%, which is greater than DGCB's maximum drawdown of -3.50%. Use the drawdown chart below to compare losses from any high point for DFIP and DGCB.

Drawdown Indicators

	DFIP	DGCB	Difference
Max Drawdown Largest peak-to-trough decline	-14.96%	-3.50%	-11.46%
Max Drawdown (1Y) Largest decline over 1 year	-2.06%	-3.08%	+1.02%
Max Drawdown (3Y) Largest decline over 3 years	-4.82%	—	—
Current Drawdown Current decline from peak	-1.22%	-0.41%	-0.81%
Average Drawdown Average peak-to-trough decline	-6.88%	-0.80%	-6.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.88%	-0.19%

Volatility

DFIP vs. DGCB - Volatility Comparison

Dimensional Inflation-Protected Securities ETF (DFIP) has a higher volatility of 1.31% compared to Dimensional Global Credit ETF (DGCB) at 1.20%. This indicates that DFIP's price experiences larger fluctuations and is considered to be riskier than DGCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFIP	DGCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	1.20%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	2.52%	3.31%	-0.79%
Volatility (1Y) Calculated over the trailing 1-year period	3.50%	3.98%	-0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.79%	4.81%	+1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.79%	4.81%	+1.98%

DFIP vs. DGCB - Expense Ratio Comparison

DFIP has a 0.11% expense ratio, which is lower than DGCB's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFIP vs. DGCB - Dividend Comparison

DFIP's dividend yield for the trailing twelve months is around 3.91%, more than DGCB's 3.21% yield.

Position	TTM	2025	2024	2023	2022	2021
DFIP Dimensional Inflation-Protected Securities ETF	3.91%	4.70%	3.69%	3.68%	5.97%	0.56%
DGCB Dimensional Global Credit ETF	3.21%	3.43%	4.72%	0.63%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFIP and DGCB in my portfolio?

DFIP and DGCB have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFIP or DGCB?

DFIP has higher volatility (1.31%) compared to DGCB (1.20%). In terms of maximum drawdown, DFIP dropped -14.96% vs DGCB's -3.50%.

Which ETF is better, DFIP or DGCB?

On 1-year performance, DGCB leads with 5.32% vs 3.57% for DFIP. On fees, DFIP is cheaper at 0.11% per year. On volatility, DGCB has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFIP or DGCB?

Over the 1-year period, DGCB has performed better with a 5.32% return vs 3.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFIP or DGCB?

DFIP is cheaper with a 0.11% expense ratio, compared with 0.20% for DGCB.

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

DFIP has the higher dividend yield at 3.91%, compared with 3.21% for DGCB.

What is the main difference between DFIP and DGCB?

DFIP is categorized as Inflation-Protected Bonds, while DGCB is Global Bonds. Their fees differ too: 0.11% for DFIP and 0.20% for DGCB.

Which has better risk-adjusted returns?

DGCB currently has the higher Sharpe Ratio (1.34 vs 1.03), 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.