DODIX vs. VARBX
DODIX (Dodge & Cox Income Fund) and VARBX (Vivaldi Merger Arbitrage Fund Class I) are both mutual funds - DODIX is a Intermediate Core-Plus Bond fund actively managed by Dodge & Cox, while VARBX is a Event Driven fund managed by First Trust. Over the past 10 years, DODIX returned 2.63%/yr vs 3.95%/yr for VARBX. Their 0.02 correlation means their historical movements had little consistent relationship. DODIX charges 0.41%/yr vs 1.81%/yr for VARBX.
Performance
DODIX vs. VARBX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DODIX achieves a -0.46% return, which is significantly lower than VARBX's 2.56% return. Over the past 10 years, DODIX has underperformed VARBX with an annualized return of 2.63%, while VARBX has yielded a comparatively higher 3.95% annualized return.
DODIX
- 1D
- 0.00%
- 1M
- -1.18%
- 6M
- -0.77%
- YTD
- -0.46%
- 1Y
- 2.62%
- 3Y*
- 4.70%
- 5Y*
- 0.78%
- 10Y*
- 2.63%
- ALL TIME*
- 5.83%
VARBX
- 1D
- 0.19%
- 1M
- 0.46%
- 6M
- 2.17%
- YTD
- 2.56%
- 1Y
- 4.80%
- 3Y*
- 5.48%
- 5Y*
- 4.17%
- 10Y*
- 3.95%
- ALL TIME*
- 4.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DODIX vs. VARBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DODIX Dodge & Cox Income Fund | -0.46% | 8.32% | 2.25% | 7.69% | -11.42% | -0.92% | 9.46% | 9.73% | -0.31% | 4.36% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 2.56% | 6.06% | 5.52% | 3.30% | 2.38% | 5.42% | 4.00% | 4.28% | 4.11% | 2.39% |
Correlation
The correlation between DODIX and VARBX is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015 | 0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DODIX vs. VARBX — Risk / Return Rank
DODIX
VARBX
DODIX vs. VARBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Income Fund (DODIX) and Vivaldi Merger Arbitrage Fund Class I (VARBX). 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.
| DODIX | VARBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.97 | ||
| Sortino ratioReturn per unit of downside risk | -7.65 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 2.78 | -1.63 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 17.00 | -15.89 |
| Martin ratioReturn relative to average drawdown | 2.77 | 83.31 | -80.55 |
Loading charts...
Drawdowns
DODIX vs. VARBX - Drawdown Comparison
The maximum DODIX drawdown since its inception was -16.89%, which is greater than VARBX's maximum drawdown of -5.12%. Use the drawdown chart below to compare losses from any high point for DODIX and VARBX.
Loading charts...
Drawdown Indicators
| DODIX | VARBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.89% | -5.12% | -11.77% |
Max Drawdown (1Y)Largest decline over 1 year | -3.17% | -0.28% | -2.89% |
Max Drawdown (3Y)Largest decline over 3 years | -5.29% | -0.64% | -4.65% |
Max Drawdown (5Y)Largest decline over 5 years | -16.89% | -1.79% | -15.10% |
Max Drawdown (10Y)Largest decline over 10 years | -16.89% | -5.12% | -11.77% |
Current DrawdownCurrent decline from peak | -2.58% | 0.00% | -2.58% |
Average DrawdownAverage peak-to-trough decline | -1.50% | -0.56% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 0.06% | +1.21% |
Volatility
DODIX vs. VARBX - Volatility Comparison
Dodge & Cox Income Fund (DODIX) has a higher volatility of 1.10% compared to Vivaldi Merger Arbitrage Fund Class I (VARBX) at 0.43%. This indicates that DODIX's price experiences larger fluctuations and is considered to be riskier than VARBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DODIX | VARBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.43% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | 0.77% | +2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.08% | 1.00% | +3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.59% | 1.18% | +4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 2.53% | +1.94% |
DODIX vs. VARBX - Expense Ratio Comparison
DODIX has a 0.41% expense ratio, which is lower than VARBX's 1.81% expense ratio.
Dividends
DODIX vs. VARBX - Dividend Comparison
DODIX's dividend yield for the trailing twelve months is around 4.35%, less than VARBX's 5.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODIX Dodge & Cox Income Fund | 4.35% | 4.23% | 4.24% | 3.86% | 2.19% | 3.23% | 4.66% | 3.63% | 3.43% | 3.03% | 3.25% | 3.09% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 5.89% | 6.04% | 6.29% | 4.07% | 0.75% | 8.42% | 0.81% | 5.54% | 2.15% | 1.70% | 0.06% | 0.04% |
Frequently Asked Questions
DODIX and VARBX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DODIX has higher volatility (1.10%) compared to VARBX (0.43%). In terms of maximum drawdown, DODIX dropped -16.89% vs VARBX's -5.12%.
VARBX currently has the higher Sharpe Ratio (4.84 vs 0.87), 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.
Find the right allocation for DODIX and VARBX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer