DGCB vs. DFGX

Last updated Jun 23, 2026

DGCB (Dimensional Global Credit ETF) and DFGX (Dimensional Global Ex US Core Fixed Income ETF) are both Global Bonds funds from Dimensional. Both are actively managed. Over the past year, DGCB returned 5.32% vs 3.29% for DFGX. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

DGCB vs. DFGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Credit ETF (DGCB) and Dimensional Global Ex US Core Fixed Income ETF (DFGX). 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 DFGX slightly higher at 1.48%.

DGCB

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

DFGX

• 1D: -0.15%
• 1M: 1.06%
• YTD: 1.48%
• 6M: 1.73%
• 1Y: 3.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DGCB vs. DFGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DGCB Dimensional Global Credit ETF	1.47%	6.68%	3.80%	6.14%
DFGX Dimensional Global Ex US Core Fixed Income ETF	1.48%	3.46%	3.75%	4.95%

Correlation

The correlation between DGCB and DFGX is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	0.81

The correlation between DGCB and DFGX has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

Return for Risk

DGCB vs. DFGX — 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

DFGX

DFGX Risk / Return Rank: 22
DFGX Sharpe Ratio Rank: 23
DFGX Sortino Ratio Rank: 22
DFGX Omega Ratio Rank: 21
DFGX Calmar Ratio Rank: 22
DFGX Martin Ratio Rank: 23

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. DFGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Credit ETF (DGCB) and Dimensional Global Ex US Core Fixed Income ETF (DFGX). 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	DFGX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	0.80	+0.54
Sortino ratio: Return per unit of downside risk	1.96	1.18	+0.78
Omega ratio: Gain probability vs. loss probability	1.24	1.14	+0.10
Calmar ratio: Return relative to maximum drawdown	1.74	0.99	+0.74
Martin ratio: Return relative to average drawdown	6.05	2.84	+3.22

DGCB vs. DFGX - Sharpe Ratio Comparison

The current DGCB Sharpe Ratio is 1.34, which is higher than the DFGX Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of DGCB and DFGX, 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. DFGX - Drawdown Comparison

The maximum DGCB drawdown since its inception was -3.50%, which is greater than DFGX's maximum drawdown of -3.32%. Use the drawdown chart below to compare losses from any high point for DGCB and DFGX.

Drawdown Indicators

	DGCB	DFGX	Difference
Max Drawdown Largest peak-to-trough decline	-3.50%	-3.32%	-0.18%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-3.32%	+0.24%
Current Drawdown Current decline from peak	-0.41%	-0.68%	+0.27%
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%	1.16%	-0.28%

Volatility

DGCB vs. DFGX - Volatility Comparison

Dimensional Global Credit ETF (DGCB) has a higher volatility of 1.20% compared to Dimensional Global Ex US Core Fixed Income ETF (DFGX) at 1.12%. This indicates that DGCB's price experiences larger fluctuations and is considered to be riskier than DFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGCB	DFGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	1.12%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	3.31%	3.46%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	4.11%	-0.13%
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. DFGX - Expense Ratio Comparison

Both DGCB and DFGX have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

DGCB vs. DFGX - Dividend Comparison

DGCB's dividend yield for the trailing twelve months is around 3.21%, more than DFGX's 2.73% yield.

Position	TTM	2025	2024	2023
DFGX Dimensional Global Ex US Core Fixed Income ETF	2.73%	2.84%	4.61%	0.49%
DGCB Dimensional Global Credit ETF	3.21%	3.43%	4.72%	0.63%

Frequently Asked Questions

Can I hold both DGCB and DFGX in my portfolio?

DGCB and DFGX have a correlation of 0.86, 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 DFGX?

DGCB has higher volatility (1.20%) compared to DFGX (1.12%). In terms of maximum drawdown, DGCB dropped -3.50% vs DFGX's -3.32%.

Which ETF is better, DGCB or DFGX?

On 1-year performance, DGCB leads with 5.32% vs 3.29% for DFGX. Both ETFs have the same 0.20% expense ratio. 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 DFGX?

Over the 1-year period, DGCB has performed better with a 5.32% return vs 3.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGCB or DFGX?

DGCB and DFGX have the same expense ratio: 0.20% per year.

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

DGCB has the higher dividend yield at 3.21%, compared with 2.73% for DFGX.

Which has better risk-adjusted returns?

DGCB currently has the higher Sharpe Ratio (1.34 vs 0.80), 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.