DGCB vs. DFGP

Last updated Jun 23, 2026

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

Performance

DGCB vs. DFGP - Performance Comparison

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

Returns By Period

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

DGCB

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

DFGP

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

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

DGCB vs. DFGP - Yearly Performance Comparison

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

Correlation

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

Return for Risk

DGCB vs. DFGP — 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

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

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. DFGP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Credit ETF (DGCB) and Dimensional Global Core Plus Fixed Income ETF (DFGP). 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	DFGP	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.22	+0.12
Sortino ratio: Return per unit of downside risk	1.96	1.78	+0.18
Omega ratio: Gain probability vs. loss probability	1.24	1.22	+0.02
Calmar ratio: Return relative to maximum drawdown	1.74	1.51	+0.23
Martin ratio: Return relative to average drawdown	6.05	5.06	+0.99

DGCB vs. DFGP - Sharpe Ratio Comparison

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

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

Drawdown Indicators

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

Volatility

DGCB vs. DFGP - Volatility Comparison

Dimensional Global Credit ETF (DGCB) and Dimensional Global Core Plus Fixed Income ETF (DFGP) 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

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

DGCB vs. DFGP - Expense Ratio Comparison

DGCB has a 0.20% expense ratio, which is lower than DFGP's 0.22% 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. DFGP - Dividend Comparison

DGCB's dividend yield for the trailing twelve months is around 3.21%, less than DFGP's 3.63% 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 DGCB and DFGP in my portfolio?

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

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

Which ETF is better, DGCB or DFGP?

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, DGCB or DFGP?

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, DGCB or DFGP?

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

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

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

What is the main difference between DGCB and DFGP?

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

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.