DODBX vs. FBALX
DODBX (Dodge & Cox Balanced Fund) and FBALX (Fidelity Balanced Fund) are both Diversified Portfolio funds. Over the past 10 years, DODBX returned 9.53%/yr vs 11.86%/yr for FBALX. Their correlation of 0.85 suggests significant overlap in exposure. DODBX charges 0.52%/yr vs 0.46%/yr for FBALX.
Performance
DODBX vs. FBALX - Performance Comparison
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Returns By Period
In the year-to-date period, DODBX achieves a 2.26% return, which is significantly lower than FBALX's 10.21% return. Over the past 10 years, DODBX has underperformed FBALX with an annualized return of 9.53%, while FBALX has yielded a comparatively higher 11.86% annualized return.
DODBX
- 1D
- -0.15%
- 1M
- -0.15%
- YTD
- 2.26%
- 6M
- 2.26%
- 1Y
- 9.71%
- 3Y*
- 11.24%
- 5Y*
- 6.89%
- 10Y*
- 9.53%
FBALX
- 1D
- 0.94%
- 1M
- 1.41%
- YTD
- 10.21%
- 6M
- 10.14%
- 1Y
- 23.97%
- 3Y*
- 16.11%
- 5Y*
- 9.49%
- 10Y*
- 11.86%
DODBX vs. FBALX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DODBX Dodge & Cox Balanced Fund | 2.26% | 14.44% | 8.76% | 13.77% | -7.30% | 19.21% | 7.93% | 19.64% | -4.66% | 11.51% |
FBALX Fidelity Balanced Fund | 10.21% | 15.11% | 16.09% | 20.31% | -18.29% | 18.27% | 22.45% | 24.40% | -3.98% | 16.52% |
Correlation
The correlation between DODBX and FBALX is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 1986 | 0.85 |
Over the past year, the correlation between DODBX and FBALX has dropped to 0.61 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.
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Return for Risk
DODBX vs. FBALX — Risk / Return Rank
DODBX
FBALX
DODBX vs. FBALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Balanced Fund (DODBX) and Fidelity Balanced Fund (FBALX). 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.
| DODBX | FBALX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.50 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 3.71 | -2.03 |
| Martin ratioReturn relative to average drawdown | 5.87 | 17.34 | -11.47 |
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Drawdowns
DODBX vs. FBALX - Drawdown Comparison
The maximum DODBX drawdown since its inception was -50.20%, which is greater than FBALX's maximum drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for DODBX and FBALX.
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Drawdown Indicators
| DODBX | FBALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.20% | -43.57% | -6.63% |
Max Drawdown (1Y)Largest decline over 1 year | -5.72% | -6.47% | +0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -8.45% | -12.88% | +4.43% |
Max Drawdown (5Y)Largest decline over 5 years | -17.74% | -22.89% | +5.15% |
Max Drawdown (10Y)Largest decline over 10 years | -31.29% | -26.68% | -4.61% |
Current DrawdownCurrent decline from peak | -1.60% | -0.14% | -1.46% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -4.37% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.38% | +0.25% |
Volatility
DODBX vs. FBALX - Volatility Comparison
The current volatility for Dodge & Cox Balanced Fund (DODBX) is 2.55%, while Fidelity Balanced Fund (FBALX) has a volatility of 3.74%. This indicates that DODBX experiences smaller price fluctuations and is considered to be less risky than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DODBX | FBALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.55% | 3.74% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 5.64% | 7.52% | -1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.46% | 9.16% | -1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.80% | 12.26% | -1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.25% | 12.82% | +0.43% |
DODBX vs. FBALX - Expense Ratio Comparison
DODBX has a 0.52% expense ratio, which is higher than FBALX's 0.46% expense ratio.
Dividends
DODBX vs. FBALX - Dividend Comparison
DODBX's dividend yield for the trailing twelve months is around 7.06%, more than FBALX's 5.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODBX Dodge & Cox Balanced Fund | 7.06% | 7.53% | 8.21% | 4.64% | 8.67% | 10.62% | 6.92% | 9.35% | 9.57% | 7.53% | 5.59% | 5.44% |
FBALX Fidelity Balanced Fund | 5.14% | 5.69% | 5.67% | 2.28% | 8.06% | 9.66% | 5.90% | 4.24% | 10.99% | 7.90% | 3.07% | 7.70% |
Frequently Asked Questions
DODBX and FBALX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBALX has higher volatility (3.74%) compared to DODBX (2.55%). In terms of maximum drawdown, DODBX dropped -50.20% vs FBALX's -43.57%.
FBALX currently has the higher Sharpe Ratio (2.62 vs 1.28), 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.
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