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DODBX vs. DOXLX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DODBX vs. DOXLX

Last updated Jun 26, 2026

DODBX (Dodge & Cox Balanced Fund) and DOXLX (Dodge & Cox Global Bond Fund) are both mutual funds - DODBX is a Diversified Portfolio fund managed by Dodge & Cox, while DOXLX is a Global Bonds fund actively managed by Dodge & Cox. Over the past 3 years, DODBX returned 11.70%/yr vs 6.73%/yr for DOXLX. A 0.52 correlation means they provide meaningful diversification when combined. DODBX charges 0.52%/yr vs 0.37%/yr for DOXLX.

Performance

DODBX vs. DOXLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Balanced Fund (DODBX) and Dodge & Cox Global Bond Fund (DOXLX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DODBX achieves a 2.26% return, which is significantly higher than DOXLX's 1.33% return.

DODBX

1D
0.00%
1M
-0.15%
YTD
2.26%
6M
1.88%
1Y
9.08%
3Y*
11.70%
5Y*
6.43%
10Y*
9.76%

DOXLX

1D
0.35%
1M
0.44%
YTD
1.33%
6M
1.24%
1Y
5.64%
3Y*
6.73%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

DODBX vs. DOXLX - Yearly Performance Comparison

2026 (YTD)2025202420232022
DODBX
Dodge & Cox Balanced Fund		2.26%14.44%8.76%13.77%-1.36%
DOXLX
Dodge & Cox Global Bond Fund		1.33%11.60%0.63%12.48%0.43%

Correlation

The correlation between DODBX and DOXLX is 0.54, 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

0.54

Correlation (3Y)
Calculated over the trailing 3-year period

0.49

Correlation (All Time)
Calculated using the full available price history since May 3, 2022

0.52

The correlation between DODBX and DOXLX has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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Dodge & Cox Balanced Fund

Dodge & Cox Global Bond Fund

Often compared with DODBX:
DODBX vs. VWENXDODBX vs. FBALXDODBX vs. VTIDODBX vs. FPACXDODBX vs. TRAIXDODBX vs. SPYDODBX vs. VDIGX
Often compared with DOXLX:
DOXLX vs. DODFXDOXLX vs. DODLXDOXLX vs. DODIXDOXLX vs. DOXFXDOXLX vs. DOXIXDOXLX vs. DODGXDOXLX vs. PSDM

Return for Risk

DODBX vs. DOXLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DODBX
DODBX Risk / Return Rank: 2525
Overall Rank
DODBX Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
DODBX Sortino Ratio Rank: 2525
Sortino Ratio Rank
DODBX Omega Ratio Rank: 2424
Omega Ratio Rank
DODBX Calmar Ratio Rank: 2424
Calmar Ratio Rank
DODBX Martin Ratio Rank: 2727
Martin Ratio Rank
DOXLX
DOXLX Risk / Return Rank: 2929
Overall Rank
DOXLX Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
DOXLX Sortino Ratio Rank: 3232
Sortino Ratio Rank
DOXLX Omega Ratio Rank: 3131
Omega Ratio Rank
DOXLX Calmar Ratio Rank: 2626
Calmar Ratio Rank
DOXLX Martin Ratio Rank: 2424
Martin Ratio Rank
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.

DODBX vs. DOXLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Balanced Fund (DODBX) and Dodge & Cox Global Bond Fund (DOXLX). 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.

DODBXDOXLXDifference
Sharpe ratioReturn per unit of total volatility
1.19
1.32

-0.13

Sortino ratioReturn per unit of downside risk
1.74
1.94

-0.20

Omega ratioGain probability vs. loss probability

1.21

1.24

-0.03

Calmar ratioReturn relative to maximum drawdown

1.54

1.57

-0.03

Martin ratioReturn relative to average drawdown

5.38

4.74

+0.64

DODBX vs. DOXLX - Sharpe Ratio Comparison

The current DODBX Sharpe Ratio is 1.19, which is comparable to the DOXLX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of DODBX and DOXLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DODBX vs. DOXLX - Drawdown Comparison

The maximum DODBX drawdown since its inception was -50.20%, which is greater than DOXLX's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for DODBX and DOXLX.

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Drawdown Indicators

DODBXDOXLXDifference

Max Drawdown

Largest peak-to-trough decline

-50.20%

-8.14%

-42.06%

Max Drawdown (1Y)

Largest decline over 1 year

-5.72%

-3.65%

-2.07%

Max Drawdown (3Y)

Largest decline over 3 years

-8.45%

-6.12%

-2.33%

Max Drawdown (5Y)

Largest decline over 5 years

-17.74%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-31.29%

—

—

Current Drawdown

Current decline from peak

-1.60%

-1.38%

-0.22%

Average Drawdown

Average peak-to-trough decline

-4.67%

-1.63%

-3.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.64%

1.21%

+0.43%

Volatility

DODBX vs. DOXLX - Volatility Comparison

Dodge & Cox Balanced Fund (DODBX) has a higher volatility of 2.49% compared to Dodge & Cox Global Bond Fund (DOXLX) at 1.39%. This indicates that DODBX's price experiences larger fluctuations and is considered to be riskier than DOXLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DODBXDOXLXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.49%

1.39%

+1.10%

Volatility (6M)

Calculated over the trailing 6-month period

5.63%

3.47%

+2.16%

Volatility (1Y)

Calculated over the trailing 1-year period

7.45%

4.38%

+3.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.78%

5.47%

+5.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.20%

5.47%

+7.73%

DODBX vs. DOXLX - Expense Ratio Comparison

DODBX has a 0.52% expense ratio, which is higher than DOXLX's 0.37% expense ratio.

Dividends

DODBX vs. DOXLX - Dividend Comparison

DODBX's dividend yield for the trailing twelve months is around 6.22%, more than DOXLX's 3.15% yield.

PositionTTM20252024202320222021202020192018201720162015
DODBX
Dodge & Cox Balanced Fund		6.22%7.53%8.21%4.64%8.67%10.62%6.92%9.35%9.57%7.53%5.59%5.44%
DOXLX
Dodge & Cox Global Bond Fund		3.15%4.14%4.81%3.36%4.58%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

DODBX and DOXLX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DODBX has higher volatility (2.49%) compared to DOXLX (1.39%). In terms of maximum drawdown, DODBX dropped -50.20% vs DOXLX's -8.14%.

DOXLX currently has the higher Sharpe Ratio (1.32 vs 1.19), 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.

Portfolio Optimizer

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