DGCIX vs. GDO

Last updated Jun 24, 2026

DGCIX (Delaware Corporate Bond Fund) and GDO (Western Asset Global Corporate Defined Opportunity Fund Inc) are both Corporate Bonds funds. Over the past 10 years, DGCIX returned 2.92%/yr vs 4.32%/yr for GDO. At a 0.22 correlation, their price movements are largely independent. DGCIX charges 0.57%/yr vs 0.01%/yr for GDO.

Performance

DGCIX vs. GDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Corporate Bond Fund (DGCIX) and Western Asset Global Corporate Defined Opportunity Fund Inc (GDO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGCIX achieves a 0.43% return, which is significantly higher than GDO's -4.27% return. Over the past 10 years, DGCIX has underperformed GDO with an annualized return of 2.92%, while GDO has yielded a comparatively higher 4.32% annualized return.

DGCIX

• 1D: -0.33%
• 1M: 0.68%
• YTD: 0.43%
• 6M: 0.91%
• 1Y: 4.92%
• 3Y*: 5.04%
• 5Y*: -0.14%
• 10Y*: 2.92%

GDO

• 1D: 0.40%
• 1M: 0.12%
• YTD: -4.27%
• 6M: -4.37%
• 1Y: 4.03%
• 3Y*: 7.16%
• 5Y*: -0.32%
• 10Y*: 4.32%

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

DGCIX vs. GDO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGCIX Delaware Corporate Bond Fund	0.43%	6.89%	2.81%	7.08%	-16.87%	-0.65%	11.99%	17.38%	-3.78%	7.91%
GDO Western Asset Global Corporate Defined Opportunity Fund Inc	-4.27%	18.25%	-0.79%	10.39%	-20.30%	3.38%	6.82%	30.72%	-10.12%	13.48%

Correlation

The correlation between DGCIX and GDO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009	0.22

The correlation between DGCIX and GDO shifts across timeframes, from 0.22 (all time) to 0.43 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

DGCIX vs. GDO — Risk / Return Rank

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

DGCIX

DGCIX Risk / Return Rank: 21
DGCIX Sharpe Ratio Rank: 21
DGCIX Sortino Ratio Rank: 21
DGCIX Omega Ratio Rank: 19
DGCIX Calmar Ratio Rank: 20
DGCIX Martin Ratio Rank: 23

GDO

GDO Risk / Return Rank: 6
GDO Sharpe Ratio Rank: 7
GDO Sortino Ratio Rank: 6
GDO Omega Ratio Rank: 6
GDO Calmar Ratio Rank: 6
GDO Martin Ratio Rank: 6

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.

DGCIX vs. GDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Corporate Bond Fund (DGCIX) and Western Asset Global Corporate Defined Opportunity Fund Inc (GDO). 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.

	DGCIX	GDO	Difference
Sharpe ratio: Return per unit of total volatility	1.19	0.49	+0.70
Sortino ratio: Return per unit of downside risk	1.77	0.75	+1.01
Omega ratio: Gain probability vs. loss probability	1.21	1.09	+0.12
Calmar ratio: Return relative to maximum drawdown	1.51	0.49	+1.02
Martin ratio: Return relative to average drawdown	5.08	1.37	+3.72

DGCIX vs. GDO - Sharpe Ratio Comparison

The current DGCIX Sharpe Ratio is 1.19, which is higher than the GDO Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of DGCIX and GDO, 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

DGCIX vs. GDO - Drawdown Comparison

The maximum DGCIX drawdown since its inception was -22.98%, smaller than the maximum GDO drawdown of -34.61%. Use the drawdown chart below to compare losses from any high point for DGCIX and GDO.

Drawdown Indicators

	DGCIX	GDO	Difference
Max Drawdown Largest peak-to-trough decline	-22.98%	-34.61%	+11.63%
Max Drawdown (1Y) Largest decline over 1 year	-3.42%	-8.28%	+4.86%
Max Drawdown (3Y) Largest decline over 3 years	-6.37%	-13.18%	+6.81%
Max Drawdown (5Y) Largest decline over 5 years	-22.98%	-34.61%	+11.63%
Max Drawdown (10Y) Largest decline over 10 years	-22.98%	-34.61%	+11.63%
Current Drawdown Current decline from peak	-3.26%	-4.85%	+1.59%
Average Drawdown Average peak-to-trough decline	-3.48%	-6.66%	+3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	2.95%	-1.94%

Volatility

DGCIX vs. GDO - Volatility Comparison

The current volatility for Delaware Corporate Bond Fund (DGCIX) is 1.24%, while Western Asset Global Corporate Defined Opportunity Fund Inc (GDO) has a volatility of 2.07%. This indicates that DGCIX experiences smaller price fluctuations and is considered to be less risky than GDO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGCIX	GDO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	2.07%	-0.83%
Volatility (6M) Calculated over the trailing 6-month period	3.30%	6.28%	-2.98%
Volatility (1Y) Calculated over the trailing 1-year period	4.34%	8.30%	-3.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.47%	12.29%	-5.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.04%	13.30%	-7.26%

DGCIX vs. GDO - Expense Ratio Comparison

DGCIX has a 0.57% expense ratio, which is higher than GDO's 0.02% expense ratio.

Dividends

DGCIX vs. GDO - Dividend Comparison

DGCIX's dividend yield for the trailing twelve months is around 5.12%, less than GDO's 13.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGCIX Delaware Corporate Bond Fund	5.12%	5.06%	4.84%	3.78%	3.81%	4.56%	3.72%	4.54%	4.18%	4.11%	3.63%	4.17%
GDO Western Asset Global Corporate Defined Opportunity Fund Inc	13.84%	12.40%	12.04%	9.52%	9.49%	6.93%	6.70%	6.65%	8.41%	7.57%	7.96%	8.62%

Frequently Asked Questions

Can I hold both DGCIX and GDO in my portfolio?

DGCIX and GDO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGCIX or GDO?

GDO has higher volatility (2.07%) compared to DGCIX (1.24%). In terms of maximum drawdown, DGCIX dropped -22.98% vs GDO's -34.61%.

Which has better risk-adjusted returns?

DGCIX currently has the higher Sharpe Ratio (1.19 vs 0.49), 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.