DODIX vs. AGG

Last updated Jun 3, 2026

DODIX (Dodge & Cox Income Fund) and AGG (iShares Core U.S. Aggregate Bond ETF) are both Total Bond Market funds. Over the past 10 years, DODIX returned 2.92%/yr vs 1.59%/yr for AGG. Their correlation of 0.83 suggests significant overlap in exposure. DODIX charges 0.41%/yr vs 0.03%/yr for AGG.

Performance

DODIX vs. AGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Income Fund (DODIX) and iShares Core U.S. Aggregate Bond ETF (AGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DODIX achieves a 0.43% return, which is significantly lower than AGG's 0.47% return. Over the past 10 years, DODIX has outperformed AGG with an annualized return of 2.92%, while AGG has yielded a comparatively lower 1.59% annualized return.

DODIX

• 1D: 0.00%
• 1M: 0.08%
• YTD: 0.43%
• 6M: 0.55%
• 1Y: 6.35%
• 3Y*: 5.23%
• 5Y*: 1.25%
• 10Y*: 2.92%

AGG

• 1D: 0.03%
• 1M: 0.14%
• YTD: 0.47%
• 6M: 0.49%
• 1Y: 5.29%
• 3Y*: 4.02%
• 5Y*: 0.23%
• 10Y*: 1.59%

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

DODIX vs. AGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DODIX Dodge & Cox Income Fund	0.43%	8.32%	2.25%	7.69%	-11.42%	-0.92%	9.46%	9.73%	-0.31%	4.36%
AGG iShares Core U.S. Aggregate Bond ETF	0.47%	7.19%	1.31%	5.65%	-13.02%	-1.77%	7.48%	8.46%	0.09%	3.55%

Correlation

The correlation between DODIX and AGG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 29, 2003	0.83

The correlation between DODIX and AGG shifts across timeframes, from 0.83 (all time) to 0.97 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DODIX vs. AGG — Risk / Return Rank

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

DODIX

DODIX Risk / Return Rank: 26
DODIX Sharpe Ratio Rank: 26
DODIX Sortino Ratio Rank: 27
DODIX Omega Ratio Rank: 26
DODIX Calmar Ratio Rank: 27
DODIX Martin Ratio Rank: 23

AGG

AGG Risk / Return Rank: 37
AGG Sharpe Ratio Rank: 38
AGG Sortino Ratio Rank: 40
AGG Omega Ratio Rank: 37
AGG Calmar Ratio Rank: 36
AGG Martin Ratio Rank: 35

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.

DODIX vs. AGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Income Fund (DODIX) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.

	DODIX	AGG	Difference
Sharpe ratio Return per unit of total volatility	1.51	1.38	+0.13
Sortino ratio Return per unit of downside risk	2.24	2.06	+0.18
Omega ratio Gain probability vs. loss probability	1.27	1.25	+0.03
Calmar ratio Return relative to maximum drawdown	2.00	1.81	+0.19
Martin ratio Return relative to average drawdown	6.16	5.61	+0.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DODIX vs. AGG - Sharpe Ratio Comparison

The current DODIX Sharpe Ratio is 1.51, which is comparable to the AGG Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of DODIX and AGG, 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

	DODIX	AGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	1.38	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.04	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.30	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	0.59	+0.88

Drawdowns

DODIX vs. AGG - Drawdown Comparison

The maximum DODIX drawdown since its inception was -16.89%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for DODIX and AGG.

Drawdown Indicators

	DODIX	AGG	Difference
Max Drawdown Largest peak-to-trough decline	-16.89%	-18.43%	+1.54%
Max Drawdown (1Y) Largest decline over 1 year	-3.17%	-2.76%	-0.41%
Max Drawdown (3Y) Largest decline over 3 years	-5.68%	-6.11%	+0.43%
Max Drawdown (5Y) Largest decline over 5 years	-16.89%	-17.82%	+0.93%
Max Drawdown (10Y) Largest decline over 10 years	-16.89%	-18.43%	+1.54%
Current Drawdown Current decline from peak	-1.71%	-1.93%	+0.22%
Average Drawdown Average peak-to-trough decline	-1.50%	-2.71%	+1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.89%	+0.14%

Volatility

DODIX vs. AGG - Volatility Comparison

Dodge & Cox Income Fund (DODIX) has a higher volatility of 1.44% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.32%. This indicates that DODIX's price experiences larger fluctuations and is considered to be riskier than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DODIX	AGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	1.32%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	2.76%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	4.12%	3.85%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.56%	6.09%	-0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.45%	5.41%	-0.96%

DODIX vs. AGG - Expense Ratio Comparison

DODIX has a 0.41% expense ratio, which is higher than AGG's 0.03% expense ratio.

Dividends

DODIX vs. AGG - Dividend Comparison

DODIX's dividend yield for the trailing twelve months is around 4.26%, more than AGG's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGG iShares Core U.S. Aggregate Bond ETF	3.98%	3.89%	3.74%	3.13%	2.39%	1.77%	2.14%	2.70%	2.72%	2.32%	2.39%	2.45%
DODIX Dodge & Cox Income Fund	4.26%	4.23%	4.24%	3.86%	2.19%	3.23%	4.66%	3.63%	3.43%	3.03%	3.25%	3.09%

Frequently Asked Questions

Can I hold both DODIX and AGG in my portfolio?

With a correlation of 0.97, DODIX and AGG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DODIX or AGG?

DODIX has higher volatility (1.44%) compared to AGG (1.32%). In terms of maximum drawdown, DODIX dropped -16.89% vs AGG's -18.43%.

Which has better risk-adjusted returns?

DODIX currently has the higher Sharpe Ratio (1.51 vs 1.38), 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.