DFTEX vs. VGCAX

Last updated Jun 24, 2026

DFTEX (DFA Intermediate-Term Extended Quality Portfolio Fund) and VGCAX (Vanguard Global Credit Bond Fund Admiral Shares) are both mutual funds - DFTEX is a Corporate Bonds fund managed by Dimensional, while VGCAX is a Total Bond Market fund managed by Vanguard. Over the past 5 years, DFTEX returned 0.54%/yr vs 1.37%/yr for VGCAX. Their correlation of 0.95 suggests significant overlap in exposure. DFTEX charges 0.20%/yr vs 0.25%/yr for VGCAX.

Performance

DFTEX vs. VGCAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) and Vanguard Global Credit Bond Fund Admiral Shares (VGCAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFTEX achieves a 0.87% return, which is significantly lower than VGCAX's 1.16% return.

DFTEX

• 1D: -0.31%
• 1M: 0.69%
• YTD: 0.87%
• 6M: 0.97%
• 1Y: 5.45%
• 3Y*: 5.80%
• 5Y*: 0.54%
• 10Y*: 2.31%

VGCAX

• 1D: -0.15%
• 1M: 0.78%
• YTD: 1.16%
• 6M: 1.31%
• 1Y: 5.17%
• 3Y*: 6.21%
• 5Y*: 1.37%
• 10Y*: —

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

DFTEX vs. VGCAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DFTEX DFA Intermediate-Term Extended Quality Portfolio Fund	0.87%	7.70%	2.89%	9.61%	-16.28%	-2.05%	10.26%	13.38%	1.58%
VGCAX Vanguard Global Credit Bond Fund Admiral Shares	1.16%	7.30%	3.99%	9.22%	-13.43%	-0.64%	10.81%	13.05%	0.96%

Correlation

The correlation between DFTEX and VGCAX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018	0.95

The correlation between DFTEX and VGCAX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

DFTEX vs. VGCAX — Risk / Return Rank

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

DFTEX

DFTEX Risk / Return Rank: 27
DFTEX Sharpe Ratio Rank: 28
DFTEX Sortino Ratio Rank: 30
DFTEX Omega Ratio Rank: 26
DFTEX Calmar Ratio Rank: 27
DFTEX Martin Ratio Rank: 27

VGCAX

VGCAX Risk / Return Rank: 33
VGCAX Sharpe Ratio Rank: 37
VGCAX Sortino Ratio Rank: 38
VGCAX Omega Ratio Rank: 36
VGCAX Calmar Ratio Rank: 28
VGCAX Martin Ratio Rank: 28

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.

DFTEX vs. VGCAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) and Vanguard Global Credit Bond Fund Admiral Shares (VGCAX). 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.

	DFTEX	VGCAX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.63	-0.24
Sortino ratio: Return per unit of downside risk	2.10	2.40	-0.30
Omega ratio: Gain probability vs. loss probability	1.25	1.29	-0.04
Calmar ratio: Return relative to maximum drawdown	1.81	1.85	-0.03
Martin ratio: Return relative to average drawdown	5.86	6.13	-0.28

DFTEX vs. VGCAX - Sharpe Ratio Comparison

The current DFTEX Sharpe Ratio is 1.39, which is comparable to the VGCAX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of DFTEX and VGCAX, 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

DFTEX vs. VGCAX - Drawdown Comparison

The maximum DFTEX drawdown since its inception was -22.83%, which is greater than VGCAX's maximum drawdown of -18.63%. Use the drawdown chart below to compare losses from any high point for DFTEX and VGCAX.

Drawdown Indicators

	DFTEX	VGCAX	Difference
Max Drawdown Largest peak-to-trough decline	-22.83%	-18.63%	-4.20%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	-2.90%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-5.38%	-4.00%	-1.38%
Max Drawdown (5Y) Largest decline over 5 years	-22.83%	-18.63%	-4.20%
Max Drawdown (10Y) Largest decline over 10 years	-22.83%	—	—
Current Drawdown Current decline from peak	-0.94%	-0.59%	-0.35%
Average Drawdown Average peak-to-trough decline	-4.44%	-4.32%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	0.87%	+0.12%

Volatility

DFTEX vs. VGCAX - Volatility Comparison

DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) has a higher volatility of 1.26% compared to Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) at 0.92%. This indicates that DFTEX's price experiences larger fluctuations and is considered to be riskier than VGCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFTEX	VGCAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	0.92%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	3.18%	2.65%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	4.20%	3.30%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.70%	5.07%	+1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.89%	4.83%	+1.06%

DFTEX vs. VGCAX - Expense Ratio Comparison

DFTEX has a 0.20% expense ratio, which is lower than VGCAX's 0.25% 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

DFTEX vs. VGCAX - Dividend Comparison

DFTEX's dividend yield for the trailing twelve months is around 4.93%, which matches VGCAX's 4.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFTEX DFA Intermediate-Term Extended Quality Portfolio Fund	4.93%	4.30%	4.27%	3.79%	3.25%	4.12%	3.31%	3.06%	3.24%	2.91%	2.88%	3.90%
VGCAX Vanguard Global Credit Bond Fund Admiral Shares	4.94%	4.91%	4.65%	4.48%	2.72%	3.16%	4.65%	6.88%	0.36%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFTEX and VGCAX in my portfolio?

With a correlation of 0.94, DFTEX and VGCAX 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, DFTEX or VGCAX?

DFTEX has higher volatility (1.26%) compared to VGCAX (0.92%). In terms of maximum drawdown, DFTEX dropped -22.83% vs VGCAX's -18.63%.

Which has better risk-adjusted returns?

VGCAX currently has the higher Sharpe Ratio (1.63 vs 1.39), 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.