DILAX vs. RFBAX
DILAX (Davis International Fund) and RFBAX (Davis Government Bond Fund) are both mutual funds - DILAX is a Foreign Large Cap Equities fund managed by Davis Funds, while RFBAX is a Government Bonds fund managed by Davis Funds. Over the past 10 years, DILAX returned 7.27%/yr vs 1.10%/yr for RFBAX. At a correlation of -0.07, they often move in opposite directions. Both charge a 1.00% expense ratio.
Performance
DILAX vs. RFBAX - Performance Comparison
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Returns By Period
In the year-to-date period, DILAX achieves a 1.67% return, which is significantly higher than RFBAX's 1.08% return. Over the past 10 years, DILAX has outperformed RFBAX with an annualized return of 7.27%, while RFBAX has yielded a comparatively lower 1.10% annualized return.
DILAX
- 1D
- 0.29%
- 1M
- 1.07%
- YTD
- 1.67%
- 6M
- 2.34%
- 1Y
- 18.99%
- 3Y*
- 16.87%
- 5Y*
- 4.19%
- 10Y*
- 7.27%
RFBAX
- 1D
- 0.19%
- 1M
- 0.45%
- YTD
- 1.08%
- 6M
- 1.34%
- 1Y
- 3.48%
- 3Y*
- 4.04%
- 5Y*
- 1.38%
- 10Y*
- 1.10%
DILAX vs. RFBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DILAX Davis International Fund | 1.67% | 30.70% | 21.56% | 5.12% | -11.47% | -22.00% | 22.69% | 26.58% | -20.97% | 38.09% |
RFBAX Davis Government Bond Fund | 1.08% | 4.49% | 4.33% | 3.63% | -5.29% | -1.48% | 1.69% | 3.23% | 0.42% | 0.21% |
Correlation
The correlation between DILAX and RFBAX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | -0.07 |
The correlation between DILAX and RFBAX shifts across timeframes, from -0.07 (all time) to 0.07 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DILAX vs. RFBAX — Risk / Return Rank
DILAX
RFBAX
DILAX vs. RFBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Davis International Fund (DILAX) and Davis Government Bond Fund (RFBAX). 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 | RFBAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.52 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 4.53 | -3.24 |
| Martin ratioReturn relative to average drawdown | 4.13 | 17.80 | -13.67 |
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Drawdowns
DILAX vs. RFBAX - Drawdown Comparison
The maximum DILAX drawdown since its inception was -65.42%, which is greater than RFBAX's maximum drawdown of -8.03%. Use the drawdown chart below to compare losses from any high point for DILAX and RFBAX.
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Drawdown Indicators
| DILAX | RFBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.42% | -8.03% | -57.39% |
Max Drawdown (1Y)Largest decline over 1 year | -14.00% | -0.77% | -13.23% |
Max Drawdown (3Y)Largest decline over 3 years | -21.52% | -0.88% | -20.64% |
Max Drawdown (5Y)Largest decline over 5 years | -45.79% | -7.50% | -38.29% |
Max Drawdown (10Y)Largest decline over 10 years | -51.66% | -8.03% | -43.63% |
Current DrawdownCurrent decline from peak | -3.95% | 0.00% | -3.95% |
Average DrawdownAverage peak-to-trough decline | -22.16% | -1.18% | -20.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 0.20% | +4.19% |
Volatility
DILAX vs. RFBAX - Volatility Comparison
Davis International Fund (DILAX) has a higher volatility of 6.29% compared to Davis Government Bond Fund (RFBAX) at 0.53%. This indicates that DILAX's price experiences larger fluctuations and is considered to be riskier than RFBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DILAX | RFBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 0.53% | +5.76% |
Volatility (6M)Calculated over the trailing 6-month period | 14.51% | 1.28% | +13.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.86% | 1.86% | +16.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.05% | 2.10% | +20.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.97% | 1.79% | +19.18% |
DILAX vs. RFBAX - Expense Ratio Comparison
Both DILAX and RFBAX have an expense ratio of 1.00%.
Dividends
DILAX vs. RFBAX - Dividend Comparison
DILAX's dividend yield for the trailing twelve months is around 0.80%, less than RFBAX's 3.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DILAX Davis International Fund | 0.80% | 0.82% | 2.22% | 1.55% | 0.00% | 1.38% | 0.00% | 3.28% | 2.47% | 0.11% | 0.17% | 3.81% |
RFBAX Davis Government Bond Fund | 3.03% | 3.01% | 3.23% | 2.15% | 0.80% | 0.57% | 0.93% | 1.67% | 1.17% | 0.59% | 0.68% | 0.75% |
Frequently Asked Questions
DILAX and RFBAX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DILAX has higher volatility (6.29%) compared to RFBAX (0.53%). In terms of maximum drawdown, DILAX dropped -65.42% vs RFBAX's -8.03%.
RFBAX currently has the higher Sharpe Ratio (1.88 vs 1.02), 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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