DGCB vs. DFGBX

Last updated Jun 23, 2026

DGCB (Dimensional Global Credit ETF) and DFGBX (DFA Five Year Global Fixed Income Portfolio) are both Global Bonds funds from Dimensional. Over the past year, DGCB returned 5.32% vs 2.58% for DFGBX. At a 0.27 correlation, their price movements are largely independent. DGCB charges 0.20%/yr vs 0.23%/yr for DFGBX.

Performance

DGCB vs. DFGBX - Performance Comparison

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

Returns By Period

In the year-to-date period, DGCB achieves a 1.47% return, which is significantly lower than DFGBX's 1.55% return.

DGCB

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

DFGBX

• 1D: 0.00%
• 1M: 0.60%
• YTD: 1.55%
• 6M: 1.75%
• 1Y: 2.58%
• 3Y*: 4.33%
• 5Y*: 1.34%
• 10Y*: 1.29%

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

DGCB vs. DFGBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DGCB Dimensional Global Credit ETF	1.47%	6.68%	3.80%	6.14%
DFGBX DFA Five Year Global Fixed Income Portfolio	1.55%	3.13%	5.37%	0.84%

Correlation

The correlation between DGCB and DFGBX is 0.51, 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	0.51
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	0.27

Over the past year, DGCB and DFGBX have become more correlated (0.51) than their long-term average of 0.27, meaning their price movements have been converging.

Return for Risk

DGCB vs. DFGBX — Risk / Return Rank

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

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

DFGBX

DFGBX Risk / Return Rank: 32
DFGBX Sharpe Ratio Rank: 27
DFGBX Sortino Ratio Rank: 20
DFGBX Omega Ratio Rank: 62
DFGBX Calmar Ratio Rank: 29
DFGBX Martin Ratio Rank: 22

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.

DGCB vs. DFGBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Credit ETF (DGCB) and DFA Five Year Global Fixed Income Portfolio (DFGBX). 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.

	DGCB	DFGBX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.38	-0.04
Sortino ratio: Return per unit of downside risk	1.96	1.74	+0.23
Omega ratio: Gain probability vs. loss probability	1.24	1.40	-0.16
Calmar ratio: Return relative to maximum drawdown	1.74	1.90	-0.16
Martin ratio: Return relative to average drawdown	6.05	5.14	+0.91

DGCB vs. DFGBX - Sharpe Ratio Comparison

The current DGCB Sharpe Ratio is 1.34, which is comparable to the DFGBX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of DGCB and DFGBX, 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

DGCB vs. DFGBX - Drawdown Comparison

The maximum DGCB drawdown since its inception was -3.50%, smaller than the maximum DFGBX drawdown of -9.63%. Use the drawdown chart below to compare losses from any high point for DGCB and DFGBX.

Drawdown Indicators

	DGCB	DFGBX	Difference
Max Drawdown Largest peak-to-trough decline	-3.50%	-9.63%	+6.13%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-1.38%	-1.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.67%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.63%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-9.63%	—
Current Drawdown Current decline from peak	-0.41%	0.00%	-0.41%
Average Drawdown Average peak-to-trough decline	-0.80%	-0.93%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.50%	+0.38%

Volatility

DGCB vs. DFGBX - Volatility Comparison

Dimensional Global Credit ETF (DGCB) has a higher volatility of 1.20% compared to DFA Five Year Global Fixed Income Portfolio (DFGBX) at 0.47%. This indicates that DGCB's price experiences larger fluctuations and is considered to be riskier than DFGBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGCB	DFGBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	0.47%	+0.73%
Volatility (6M) Calculated over the trailing 6-month period	3.31%	1.32%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	1.89%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.81%	2.19%	+2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.81%	1.93%	+2.88%

DGCB vs. DFGBX - Expense Ratio Comparison

DGCB has a 0.20% expense ratio, which is lower than DFGBX's 0.23% 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

DGCB vs. DFGBX - Dividend Comparison

DGCB's dividend yield for the trailing twelve months is around 3.21%, less than DFGBX's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGBX DFA Five Year Global Fixed Income Portfolio	3.42%	2.91%	4.69%	3.61%	1.63%	0.73%	0.03%	2.30%	4.74%	0.89%	1.16%	1.72%
DGCB Dimensional Global Credit ETF	3.21%	3.43%	4.72%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DGCB and DFGBX in my portfolio?

DGCB and DFGBX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGCB or DFGBX?

DGCB has higher volatility (1.20%) compared to DFGBX (0.47%). In terms of maximum drawdown, DGCB dropped -3.50% vs DFGBX's -9.63%.

Which has better risk-adjusted returns?

DFGBX currently has the higher Sharpe Ratio (1.38 vs 1.34), 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.