DODGX vs. BALFX

Last updated Jun 10, 2026

DODGX (Dodge & Cox Stock Fund Class I) and BALFX (American Funds American Balanced Fund) are both mutual funds - DODGX is a Large Cap Value Equities fund actively managed by Dodge & Cox, while BALFX is a Diversified Portfolio fund managed by American Funds. Over the past 10 years, DODGX returned 12.82%/yr vs 9.83%/yr for BALFX. Their correlation of 0.90 suggests significant overlap in exposure. DODGX charges 0.51%/yr vs 0.62%/yr for BALFX.

Performance

DODGX vs. BALFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Stock Fund Class I (DODGX) and American Funds American Balanced Fund (BALFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DODGX achieves a 3.36% return, which is significantly lower than BALFX's 7.61% return. Over the past 10 years, DODGX has outperformed BALFX with an annualized return of 12.82%, while BALFX has yielded a comparatively lower 9.83% annualized return.

DODGX

• 1D: -0.53%
• 1M: 0.36%
• YTD: 3.36%
• 6M: 6.13%
• 1Y: 11.45%
• 3Y*: 14.89%
• 5Y*: 8.68%
• 10Y*: 12.82%

BALFX

• 1D: 0.30%
• 1M: -0.27%
• YTD: 7.61%
• 6M: 8.26%
• 1Y: 21.61%
• 3Y*: 16.60%
• 5Y*: 9.14%
• 10Y*: 9.83%

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

DODGX vs. BALFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DODGX Dodge & Cox Stock Fund Class I	3.36%	13.66%	14.36%	17.49%	-7.25%	31.72%	7.10%	24.30%	-7.15%	18.33%
BALFX American Funds American Balanced Fund	7.61%	18.40%	14.91%	13.62%	-12.19%	15.69%	10.81%	18.50%	-3.54%	14.63%

Correlation

The correlation between DODGX and BALFX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Mar 15, 2001	0.90

Over the past year, the correlation between DODGX and BALFX has dropped to 0.64 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

DODGX vs. BALFX — Risk / Return Rank

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

DODGX

DODGX Risk / Return Rank: 21
DODGX Sharpe Ratio Rank: 19
DODGX Sortino Ratio Rank: 19
DODGX Omega Ratio Rank: 18
DODGX Calmar Ratio Rank: 25
DODGX Martin Ratio Rank: 27

BALFX

BALFX Risk / Return Rank: 81
BALFX Sharpe Ratio Rank: 84
BALFX Sortino Ratio Rank: 81
BALFX Omega Ratio Rank: 80
BALFX Calmar Ratio Rank: 78
BALFX Martin Ratio Rank: 85

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.

DODGX vs. BALFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Stock Fund Class I (DODGX) and American Funds American Balanced Fund (BALFX). 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.

	DODGX	BALFX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	2.44	-1.38
Sortino ratio: Return per unit of downside risk	1.55	3.37	-1.82
Omega ratio: Gain probability vs. loss probability	1.19	1.46	-0.27
Calmar ratio: Return relative to maximum drawdown	1.58	3.10	-1.53
Martin ratio: Return relative to average drawdown	5.53	13.88	-8.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DODGX vs. BALFX - Sharpe Ratio Comparison

The current DODGX Sharpe Ratio is 1.05, which is lower than the BALFX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of DODGX and BALFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DODGX	BALFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	2.44	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.87	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.92	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.68	-0.05

Drawdowns

DODGX vs. BALFX - Drawdown Comparison

The maximum DODGX drawdown since its inception was -63.24%, which is greater than BALFX's maximum drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for DODGX and BALFX.

Drawdown Indicators

	DODGX	BALFX	Difference
Max Drawdown Largest peak-to-trough decline	-63.24%	-40.20%	-23.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	-7.03%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-14.89%	-10.67%	-4.22%
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	-18.81%	-3.04%
Max Drawdown (10Y) Largest decline over 10 years	-40.41%	-22.34%	-18.07%
Current Drawdown Current decline from peak	-1.23%	-2.12%	+0.89%
Average Drawdown Average peak-to-trough decline	-7.51%	-4.16%	-3.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	1.57%	+0.56%

Volatility

DODGX vs. BALFX - Volatility Comparison

Dodge & Cox Stock Fund Class I (DODGX) and American Funds American Balanced Fund (BALFX) have volatilities of 2.93% and 3.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DODGX	BALFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	3.08%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	8.23%	7.11%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	11.23%	8.97%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	10.52%	+5.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	10.68%	+8.54%

DODGX vs. BALFX - Expense Ratio Comparison

DODGX has a 0.51% expense ratio, which is lower than BALFX's 0.62% expense ratio.

Dividends

DODGX vs. BALFX - Dividend Comparison

DODGX's dividend yield for the trailing twelve months is around 9.41%, more than BALFX's 6.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALFX American Funds American Balanced Fund	6.91%	8.22%	7.14%	2.02%	2.24%	4.24%	4.31%	3.44%	5.30%	4.66%	4.18%	5.54%
DODGX Dodge & Cox Stock Fund Class I	9.41%	9.86%	8.20%	3.76%	5.47%	3.22%	6.74%	10.23%	9.69%	6.78%	6.26%	5.36%

Frequently Asked Questions

Can I hold both DODGX and BALFX in my portfolio?

DODGX and BALFX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DODGX or BALFX?

BALFX has higher volatility (3.08%) compared to DODGX (2.93%). In terms of maximum drawdown, DODGX dropped -63.24% vs BALFX's -40.20%.

Which has better risk-adjusted returns?

BALFX currently has the higher Sharpe Ratio (2.44 vs 1.05), 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.