DIBRX vs. DODLX

Last updated Jul 14, 2026

DIBRX (BNY Mellon International Bond Fund) and DODLX (Dodge & Cox Global Bond Fund Class I) are both Global Bonds funds. Over the past 10 years, DIBRX returned -0.40%/yr vs 4.59%/yr for DODLX. A 0.59 correlation means they provide meaningful diversification when combined. DIBRX charges 0.73%/yr vs 0.45%/yr for DODLX.

Performance

DIBRX vs. DODLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon International Bond Fund (DIBRX) and Dodge & Cox Global Bond Fund Class I (DODLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIBRX achieves a -1.88% return, which is significantly lower than DODLX's 1.07% return. Over the past 10 years, DIBRX has underperformed DODLX with an annualized return of -0.40%, while DODLX has yielded a comparatively higher 4.59% annualized return.

DIBRX

• 1D: 0.32%
• 1M: -0.94%
• 6M: -1.50%
• YTD: -1.88%
• 1Y: -1.54%
• 3Y*: 2.72%
• 5Y*: -2.59%
• 10Y*: -0.40%

DODLX

• 1D: 0.09%
• 1M: -0.25%
• 6M: 0.62%
• YTD: 1.07%
• 1Y: 5.41%
• 3Y*: 6.59%
• 5Y*: 2.97%
• 10Y*: 4.59%

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

DIBRX vs. DODLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIBRX BNY Mellon International Bond Fund	-1.88%	8.51%	-3.14%	5.70%	-16.81%	-6.80%	8.38%	5.16%	-5.80%	12.58%
DODLX Dodge & Cox Global Bond Fund Class I	1.07%	11.51%	0.55%	12.30%	-8.21%	-0.85%	11.87%	12.23%	-1.45%	8.31%

Correlation

The correlation between DIBRX and DODLX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since May 1, 2014	0.59

Over the past year, DIBRX and DODLX have become more correlated (0.79) than their long-term average of 0.59, meaning their price movements have been converging.

Return for Risk

DIBRX vs. DODLX — Risk / Return Rank

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

DIBRX

DIBRX Risk / Return Rank: 2
DIBRX Sharpe Ratio Rank: 2
DIBRX Sortino Ratio Rank: 2
DIBRX Omega Ratio Rank: 2
DIBRX Calmar Ratio Rank: 2
DIBRX Martin Ratio Rank: 1

DODLX

DODLX Risk / Return Rank: 27
DODLX Sharpe Ratio Rank: 30
DODLX Sortino Ratio Rank: 29
DODLX Omega Ratio Rank: 29
DODLX Calmar Ratio Rank: 25
DODLX Martin Ratio Rank: 22

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.

DIBRX vs. DODLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon International Bond Fund (DIBRX) and Dodge & Cox Global Bond Fund Class I (DODLX). 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.

	DIBRX	DODLX	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	1.17	-1.45
Sortino ratio: Return per unit of downside risk	-0.36	1.69	-2.06
Omega ratio: Gain probability vs. loss probability	0.96	1.21	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.35	1.38	-1.73
Martin ratio: Return relative to average drawdown	-0.81	4.06	-4.87

DIBRX vs. DODLX - Sharpe Ratio Comparison

The current DIBRX Sharpe Ratio is -0.28, which is lower than the DODLX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of DIBRX and DODLX, 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

DIBRX vs. DODLX - Drawdown Comparison

The maximum DIBRX drawdown since its inception was -30.62%, which is greater than DODLX's maximum drawdown of -16.30%. Use the drawdown chart below to compare losses from any high point for DIBRX and DODLX.

Drawdown Indicators

	DIBRX	DODLX	Difference
Max Drawdown Largest peak-to-trough decline	-30.62%	-16.30%	-14.32%
Max Drawdown (1Y) Largest decline over 1 year	-5.21%	-3.67%	-1.54%
Max Drawdown (3Y) Largest decline over 3 years	-8.76%	-6.21%	-2.55%
Max Drawdown (5Y) Largest decline over 5 years	-28.27%	-16.30%	-11.97%
Max Drawdown (10Y) Largest decline over 10 years	-30.62%	-16.30%	-14.32%
Current Drawdown Current decline from peak	-16.10%	-1.64%	-14.46%
Average Drawdown Average peak-to-trough decline	-7.24%	-3.03%	-4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	1.24%	+1.04%

Volatility

DIBRX vs. DODLX - Volatility Comparison

BNY Mellon International Bond Fund (DIBRX) has a higher volatility of 1.38% compared to Dodge & Cox Global Bond Fund Class I (DODLX) at 1.21%. This indicates that DIBRX's price experiences larger fluctuations and is considered to be riskier than DODLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIBRX	DODLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	1.21%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	5.00%	3.54%	+1.46%
Volatility (1Y) Calculated over the trailing 1-year period	6.56%	4.31%	+2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.43%	5.28%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.10%	4.80%	+2.30%

DIBRX vs. DODLX - Expense Ratio Comparison

DIBRX has a 0.73% expense ratio, which is higher than DODLX's 0.45% expense ratio.

Dividends

DIBRX vs. DODLX - Dividend Comparison

DIBRX's dividend yield for the trailing twelve months is around 3.15%, less than DODLX's 4.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIBRX BNY Mellon International Bond Fund	3.15%	2.48%	2.34%	0.00%	0.58%	1.90%	2.16%	0.00%	3.64%	3.81%	0.61%	5.14%
DODLX Dodge & Cox Global Bond Fund Class I	4.14%	4.07%	4.73%	3.31%	5.05%	3.86%	2.66%	3.40%	5.19%	2.45%	1.69%	0.00%

Frequently Asked Questions

Can I hold both DIBRX and DODLX in my portfolio?

DIBRX and DODLX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIBRX or DODLX?

DIBRX has higher volatility (1.38%) compared to DODLX (1.21%). In terms of maximum drawdown, DIBRX dropped -30.62% vs DODLX's -16.30%.

Which has better risk-adjusted returns?

DODLX currently has the higher Sharpe Ratio (1.17 vs -0.28), 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.