DGSFX vs. DFAPX

Last updated Jun 23, 2026

DGSFX (DFA Global Sustainability Fixed Income Portfolio) and DFAPX (DFA Investment Grade Portfolio) are both mutual funds - DGSFX is a Global Bonds fund managed by Dimensional, while DFAPX is a Intermediate Core Bond fund managed by Dimensional. Over the past 5 years, DGSFX returned -0.12%/yr vs 0.50%/yr for DFAPX. Their correlation of 0.89 suggests significant overlap in exposure. DGSFX charges 0.26%/yr vs 0.20%/yr for DFAPX.

Performance

DGSFX vs. DFAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Global Sustainability Fixed Income Portfolio (DGSFX) and DFA Investment Grade Portfolio (DFAPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGSFX achieves a 1.62% return, which is significantly higher than DFAPX's 0.84% return.

DGSFX

• 1D: 0.11%
• 1M: 1.17%
• YTD: 1.62%
• 6M: 1.94%
• 1Y: 3.17%
• 3Y*: 4.84%
• 5Y*: -0.12%
• 10Y*: —

DFAPX

• 1D: 0.29%
• 1M: 0.89%
• YTD: 0.84%
• 6M: 0.94%
• 1Y: 4.84%
• 3Y*: 4.66%
• 5Y*: 0.50%
• 10Y*: 2.02%

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

DGSFX vs. DFAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DGSFX DFA Global Sustainability Fixed Income Portfolio	1.62%	3.80%	2.60%	9.67%	-15.61%	-2.95%	7.99%	9.85%	1.15%
DFAPX DFA Investment Grade Portfolio	0.84%	7.22%	1.81%	6.84%	-12.92%	-1.57%	9.19%	9.97%	2.28%

Correlation

The correlation between DGSFX and DFAPX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018	0.89

The correlation between DGSFX and DFAPX shifts across timeframes, from 0.80 (1 year) to 0.91 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DGSFX vs. DFAPX — Risk / Return Rank

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

DGSFX

DGSFX Risk / Return Rank: 12
DGSFX Sharpe Ratio Rank: 13
DGSFX Sortino Ratio Rank: 12
DGSFX Omega Ratio Rank: 13
DGSFX Calmar Ratio Rank: 13
DGSFX Martin Ratio Rank: 12

DFAPX

DFAPX Risk / Return Rank: 25
DFAPX Sharpe Ratio Rank: 24
DFAPX Sortino Ratio Rank: 25
DFAPX Omega Ratio Rank: 23
DFAPX Calmar Ratio Rank: 28
DFAPX 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.

DGSFX vs. DFAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Global Sustainability Fixed Income Portfolio (DGSFX) and DFA Investment Grade Portfolio (DFAPX). 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.

	DGSFX	DFAPX	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.30	-0.37
Sortino ratio: Return per unit of downside risk	1.34	1.96	-0.62
Omega ratio: Gain probability vs. loss probability	1.17	1.23	-0.06
Calmar ratio: Return relative to maximum drawdown	1.14	1.88	-0.74
Martin ratio: Return relative to average drawdown	3.10	5.11	-2.01

DGSFX vs. DFAPX - Sharpe Ratio Comparison

The current DGSFX Sharpe Ratio is 0.93, which is comparable to the DFAPX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of DGSFX and DFAPX, 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

DGSFX vs. DFAPX - Drawdown Comparison

The maximum DGSFX drawdown since its inception was -21.57%, which is greater than DFAPX's maximum drawdown of -18.30%. Use the drawdown chart below to compare losses from any high point for DGSFX and DFAPX.

Drawdown Indicators

	DGSFX	DFAPX	Difference
Max Drawdown Largest peak-to-trough decline	-21.57%	-18.30%	-3.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.91%	-2.66%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-3.68%	-4.74%	+1.06%
Max Drawdown (5Y) Largest decline over 5 years	-21.29%	-18.22%	-3.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.30%	—
Current Drawdown Current decline from peak	-2.89%	-1.01%	-1.88%
Average Drawdown Average peak-to-trough decline	-6.57%	-3.46%	-3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	0.97%	+0.09%

Volatility

DGSFX vs. DFAPX - Volatility Comparison

The current volatility for DFA Global Sustainability Fixed Income Portfolio (DGSFX) is 0.94%, while DFA Investment Grade Portfolio (DFAPX) has a volatility of 1.14%. This indicates that DGSFX experiences smaller price fluctuations and is considered to be less risky than DFAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGSFX	DFAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	1.14%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	2.73%	2.78%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	3.57%	3.84%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.34%	5.82%	-0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.87%	4.89%	-0.02%

DGSFX vs. DFAPX - Expense Ratio Comparison

DGSFX has a 0.26% expense ratio, which is higher than DFAPX's 0.20% 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

DGSFX vs. DFAPX - Dividend Comparison

DGSFX's dividend yield for the trailing twelve months is around 3.52%, less than DFAPX's 3.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAPX DFA Investment Grade Portfolio	3.73%	3.78%	3.79%	3.31%	2.62%	3.31%	2.14%	2.59%	2.67%	2.21%	2.12%	2.45%
DGSFX DFA Global Sustainability Fixed Income Portfolio	3.52%	3.02%	4.26%	4.09%	1.97%	1.15%	1.72%	3.37%	0.24%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DGSFX and DFAPX in my portfolio?

DGSFX and DFAPX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGSFX or DFAPX?

DFAPX has higher volatility (1.14%) compared to DGSFX (0.94%). In terms of maximum drawdown, DGSFX dropped -21.57% vs DFAPX's -18.30%.

Which has better risk-adjusted returns?

DFAPX currently has the higher Sharpe Ratio (1.30 vs 0.93), 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.