DILAX vs. DGFAX
DILAX (Davis International Fund) and DGFAX (Davis Global Fund) are both mutual funds - DILAX is a Foreign Large Cap Equities fund managed by Davis, while DGFAX is a Global Equities fund managed by Davis. Over the past 10 years, DILAX returned 7.39%/yr vs 10.79%/yr for DGFAX. Their correlation of 0.94 means they have usually moved in the same direction. DILAX charges 1.00%/yr vs 0.96%/yr for DGFAX.
Performance
DILAX vs. DGFAX - Performance Comparison
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Returns By Period
In the year-to-date period, DILAX achieves a 5.13% return, which is significantly higher than DGFAX's 3.04% return. Over the past 10 years, DILAX has underperformed DGFAX with an annualized return of 7.39%, while DGFAX has yielded a comparatively higher 10.79% annualized return.
DILAX
- 1D
- 2.56%
- 1M
- 4.88%
- 6M
- 2.26%
- YTD
- 5.13%
- 1Y
- 19.97%
- 3Y*
- 16.04%
- 5Y*
- 7.86%
- 10Y*
- 7.39%
- ALL TIME*
- 4.21%
DGFAX
- 1D
- 0.80%
- 1M
- 3.13%
- 6M
- 3.23%
- YTD
- 3.04%
- 1Y
- 20.64%
- 3Y*
- 16.97%
- 5Y*
- 9.01%
- 10Y*
- 10.79%
- ALL TIME*
- 8.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
DGFAX Davis Global Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
DILAX vs. DGFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DILAX Davis International Fund | 5.13% | 30.70% | 21.56% | 5.12% | -11.47% | -22.00% | 22.69% | 26.58% | -20.97% | 38.09% |
DGFAX Davis Global Fund | 3.04% | 31.85% | 22.59% | 17.22% | -16.53% | -5.15% | 23.06% | 31.61% | -20.73% | 33.33% |
Correlation
The correlation between DILAX and DGFAX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.94 |
The correlation between DILAX and DGFAX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.
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Return for Risk
DILAX vs. DGFAX — Risk / Return Rank
DILAX
DGFAX
DILAX vs. DGFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Davis International Fund (DILAX) and Davis Global Fund (DGFAX). 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.
| DILAX | DGFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.21 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 1.34 | -0.23 |
| Martin ratioReturn relative to average drawdown | 3.39 | 4.28 | -0.89 |
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Drawdowns
DILAX vs. DGFAX - Drawdown Comparison
The maximum DILAX drawdown since its inception was -65.42%, roughly equal to the maximum DGFAX drawdown of -65.64%. Use the drawdown chart below to compare losses from any high point for DILAX and DGFAX.
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Drawdown Indicators
| DILAX | DGFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.42% | -65.64% | +0.22% |
Max Drawdown (1Y)Largest decline over 1 year | -14.00% | -12.72% | -1.28% |
Max Drawdown (3Y)Largest decline over 3 years | -21.52% | -16.92% | -4.60% |
Max Drawdown (5Y)Largest decline over 5 years | -37.74% | -34.13% | -3.61% |
Max Drawdown (10Y)Largest decline over 10 years | -51.66% | -42.47% | -9.19% |
Current DrawdownCurrent decline from peak | -0.68% | -0.90% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -22.06% | -14.60% | -7.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.57% | 3.99% | +0.58% |
Volatility
DILAX vs. DGFAX - Volatility Comparison
Davis International Fund (DILAX) has a higher volatility of 5.39% compared to Davis Global Fund (DGFAX) at 4.20%. This indicates that DILAX's price experiences larger fluctuations and is considered to be riskier than DGFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DILAX | DGFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 4.20% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 15.04% | 11.44% | +3.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.38% | 14.87% | +3.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.73% | 20.27% | +2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.90% | 19.91% | +0.99% |
DILAX vs. DGFAX - Expense Ratio Comparison
DILAX has a 1.00% expense ratio, which is higher than DGFAX's 0.96% expense ratio.
Dividends
DILAX vs. DGFAX - Dividend Comparison
DILAX's dividend yield for the trailing twelve months is around 0.78%, less than DGFAX's 7.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGFAX Davis Global Fund | 7.60% | 7.83% | 13.06% | 1.07% | 0.00% | 11.55% | 0.27% | 1.88% | 9.25% | 0.00% | 0.00% | 6.12% |
DILAX Davis International Fund | 0.78% | 0.82% | 2.22% | 1.55% | 0.00% | 1.38% | 0.00% | 3.28% | 2.47% | 0.11% | 0.17% | 3.81% |
Frequently Asked Questions
With a correlation of 0.91, DILAX and DGFAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DILAX has higher volatility (5.39%) compared to DGFAX (4.20%). In terms of maximum drawdown, DILAX dropped -65.42% vs DGFAX's -65.64%.
DGFAX currently has the higher Sharpe Ratio (1.15 vs 0.85), 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.
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