DGCB vs. DFIP

Last updated Jun 3, 2026

DGCB (Dimensional Global Credit ETF) and DFIP (Dimensional Inflation-Protected Securities ETF) are both exchange-traded funds - DGCB is a Global Bonds fund actively managed by Dimensional, while DFIP is a Inflation-Protected Bonds fund actively managed by Dimensional. Both are actively managed. Over the past year, DGCB returned 6.15% vs 5.23% for DFIP. A 0.79 correlation means they provide meaningful diversification when combined. DGCB charges 0.20%/yr vs 0.11%/yr for DFIP.

Performance

DGCB vs. DFIP - Performance Comparison

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

Returns By Period

In the year-to-date period, DGCB achieves a 1.43% return, which is significantly lower than DFIP's 1.75% return.

DGCB

• 1D: 0.03%
• 1M: 0.76%
• YTD: 1.43%
• 6M: 1.40%
• 1Y: 6.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFIP

• 1D: -0.02%
• 1M: -0.18%
• YTD: 1.75%
• 6M: 1.43%
• 1Y: 5.23%
• 3Y*: 4.27%
• 5Y*: —
• 10Y*: —

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

DGCB vs. DFIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DGCB Dimensional Global Credit ETF	1.43%	6.68%	3.80%	6.14%
DFIP Dimensional Inflation-Protected Securities ETF	1.75%	7.54%	1.72%	3.39%

Correlation

The correlation between DGCB and DFIP 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 9, 2023	0.79

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

Return for Risk

DGCB vs. DFIP — Risk / Return Rank

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

DGCB

DGCB Risk / Return Rank: 42
DGCB Sharpe Ratio Rank: 44
DGCB Sortino Ratio Rank: 44
DGCB Omega Ratio Rank: 44
DGCB Calmar Ratio Rank: 38
DGCB Martin Ratio Rank: 42

DFIP

DFIP Risk / Return Rank: 45
DFIP Sharpe Ratio Rank: 43
DFIP Sortino Ratio Rank: 48
DFIP Omega Ratio Rank: 42
DFIP Calmar Ratio Rank: 48
DFIP Martin Ratio Rank: 44

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. DFIP - Risk-Adjusted Trends Comparison

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

	DGCB	DFIP	Difference
Sharpe ratio Return per unit of total volatility	1.56	1.53	+0.03
Sortino ratio Return per unit of downside risk	2.26	2.36	-0.10
Omega ratio Gain probability vs. loss probability	1.28	1.28	+0.01
Calmar ratio Return relative to maximum drawdown	1.93	2.40	-0.47
Martin ratio Return relative to average drawdown	6.80	7.28	-0.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGCB vs. DFIP - Sharpe Ratio Comparison

The current DGCB Sharpe Ratio is 1.56, which is comparable to the DFIP Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of DGCB and DFIP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DGCB	DFIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	1.53	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	1.49	0.05	+1.44

Drawdowns

DGCB vs. DFIP - Drawdown Comparison

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

Drawdown Indicators

	DGCB	DFIP	Difference
Max Drawdown Largest peak-to-trough decline	-3.50%	-14.96%	+11.46%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-2.06%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.82%	—
Current Drawdown Current decline from peak	-0.45%	-0.21%	-0.24%
Average Drawdown Average peak-to-trough decline	-0.80%	-6.95%	+6.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	0.68%	+0.19%

Volatility

DGCB vs. DFIP - Volatility Comparison

Dimensional Global Credit ETF (DGCB) has a higher volatility of 1.47% compared to Dimensional Inflation-Protected Securities ETF (DFIP) at 0.92%. This indicates that DGCB's price experiences larger fluctuations and is considered to be riskier than DFIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGCB	DFIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	0.92%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	3.18%	2.34%	+0.84%
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	3.45%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.82%	6.81%	-1.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.82%	6.81%	-1.99%

DGCB vs. DFIP - Expense Ratio Comparison

DGCB has a 0.20% expense ratio, which is higher than DFIP's 0.11% expense ratio. However, 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. DFIP - Dividend Comparison

DGCB's dividend yield for the trailing twelve months is around 3.22%, less than DFIP's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021
DFIP Dimensional Inflation-Protected Securities ETF	3.87%	4.70%	3.69%	3.68%	5.97%	0.56%
DGCB Dimensional Global Credit ETF	3.22%	3.43%	4.72%	0.63%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DGCB and DFIP in my portfolio?

DGCB and DFIP 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, DGCB or DFIP?

DGCB has higher volatility (1.47%) compared to DFIP (0.92%). In terms of maximum drawdown, DGCB dropped -3.50% vs DFIP's -14.96%.

Which ETF is better, DGCB or DFIP?

On 1-year performance, DGCB leads with 6.15% vs 5.23% for DFIP. On fees, DFIP is cheaper at 0.11% per year. On volatility, DFIP has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGCB or DFIP?

Over the 1-year period, DGCB has performed better with a 6.15% return vs 5.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGCB or DFIP?

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

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

DFIP has the higher dividend yield at 3.87%, compared with 3.22% for DGCB.

What is the main difference between DGCB and DFIP?

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

Which has better risk-adjusted returns?

DGCB currently has the higher Sharpe Ratio (1.56 vs 1.53), 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.