DODGX vs. BIL

Last updated Jun 9, 2026

DODGX (Dodge & Cox Stock Fund Class I) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both funds - DODGX is a Large Cap Value Equities fund actively managed by Dodge & Cox, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. DODGX is actively managed, while BIL is passively managed. Over the past 10 years, DODGX returned 12.65%/yr vs 2.19%/yr for BIL. At a correlation of -0.03, they often move in opposite directions. DODGX charges 0.51%/yr vs 0.14%/yr for BIL.

Performance

DODGX vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Stock Fund Class I (DODGX) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DODGX achieves a 3.91% return, which is significantly higher than BIL's 1.54% return. Over the past 10 years, DODGX has outperformed BIL with an annualized return of 12.65%, while BIL has yielded a comparatively lower 2.19% annualized return.

DODGX

• 1D: -0.70%
• 1M: 0.89%
• YTD: 3.91%
• 6M: 6.39%
• 1Y: 12.33%
• 3Y*: 15.24%
• 5Y*: 8.58%
• 10Y*: 12.65%

BIL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.54%
• 6M: 1.78%
• 1Y: 3.88%
• 3Y*: 4.62%
• 5Y*: 3.42%
• 10Y*: 2.19%

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

DODGX vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DODGX Dodge & Cox Stock Fund Class I	3.91%	13.66%	14.36%	17.49%	-7.25%	31.72%	7.10%	24.30%	-7.15%	18.33%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.54%	4.15%	5.19%	4.94%	1.40%	-0.10%	0.40%	2.03%	1.74%	0.69%

Correlation

The correlation between DODGX and BIL is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (5Y) Calculated over the trailing 5-year period	-0.04
Correlation (10Y) Calculated over the trailing 10-year period	-0.02
Correlation (All Time) Calculated using the full available price history since May 31, 2007	-0.03

Return for Risk

DODGX vs. BIL — Risk / Return Rank

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

DODGX

DODGX Risk / Return Rank: 23
DODGX Sharpe Ratio Rank: 20
DODGX Sortino Ratio Rank: 20
DODGX Omega Ratio Rank: 19
DODGX Calmar Ratio Rank: 27
DODGX Martin Ratio Rank: 29

BIL

BIL Risk / Return Rank: 100
BIL Sharpe Ratio Rank: 100
BIL Sortino Ratio Rank: 100
BIL Omega Ratio Rank: 100
BIL Calmar Ratio Rank: 100
BIL Martin Ratio Rank: 100

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. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Stock Fund Class I (DODGX) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). 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	BIL	Difference
Sharpe ratio: Return per unit of total volatility	1.21	19.64	-18.43
Sortino ratio: Return per unit of downside risk	1.76	174.66	-172.90
Omega ratio: Gain probability vs. loss probability	1.21	88.16	-86.95
Calmar ratio: Return relative to maximum drawdown	1.82	356.40	-354.58
Martin ratio: Return relative to average drawdown	6.39	2,826.06	-2,819.67
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. BIL - Sharpe Ratio Comparison

The current DODGX Sharpe Ratio is 1.21, which is lower than the BIL Sharpe Ratio of 19.64. The chart below compares the historical Sharpe Ratios of DODGX and BIL, 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	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	19.64	-18.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	13.23	-12.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	8.57	-7.91
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	2.78	-2.15

Drawdowns

DODGX vs. BIL - Drawdown Comparison

The maximum DODGX drawdown since its inception was -63.24%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for DODGX and BIL.

Drawdown Indicators

	DODGX	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-63.24%	-0.78%	-62.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	-0.01%	-7.47%
Max Drawdown (3Y) Largest decline over 3 years	-14.89%	-0.01%	-14.88%
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	-0.09%	-21.76%
Max Drawdown (10Y) Largest decline over 10 years	-40.41%	-0.21%	-40.20%
Current Drawdown Current decline from peak	-0.70%	0.00%	-0.70%
Average Drawdown Average peak-to-trough decline	-7.51%	-0.26%	-7.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	0.00%	+2.12%

Volatility

DODGX vs. BIL - Volatility Comparison

Dodge & Cox Stock Fund Class I (DODGX) has a higher volatility of 2.97% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that DODGX's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DODGX	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	0.06%	+2.91%
Volatility (6M) Calculated over the trailing 6-month period	8.21%	0.14%	+8.07%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	0.20%	+11.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	0.26%	+15.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	0.26%	+18.96%

DODGX vs. BIL - Expense Ratio Comparison

DODGX has a 0.51% expense ratio, which is higher than BIL's 0.14% expense ratio.

Dividends

DODGX vs. BIL - Dividend Comparison

DODGX's dividend yield for the trailing twelve months is around 9.36%, more than BIL's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.86%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%	0.00%
DODGX Dodge & Cox Stock Fund Class I	9.36%	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 BIL in my portfolio?

DODGX and BIL have a correlation of -0.10, 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 BIL?

DODGX has higher volatility (2.97%) compared to BIL (0.06%). In terms of maximum drawdown, DODGX dropped -63.24% vs BIL's -0.78%.

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.64 vs 1.21), 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.