DODLX vs. DFIV

Last updated Jun 9, 2026

DODLX (Dodge & Cox Global Bond Fund) and DFIV (Dimensional International Value ETF) are both funds - DODLX is a Global Bonds fund managed by Dodge & Cox, while DFIV is a Foreign Large Cap Equities fund actively managed by Dimensional. Over the past 3 years, DODLX returned 6.57%/yr vs 23.03%/yr for DFIV. At a 0.49 correlation, their price movements are largely independent. DODLX charges 0.45%/yr vs 0.27%/yr for DFIV.

Performance

DODLX vs. DFIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Global Bond Fund (DODLX) and Dimensional International Value ETF (DFIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DODLX achieves a 0.42% return, which is significantly lower than DFIV's 10.17% return.

DODLX

• 1D: -0.62%
• 1M: -0.97%
• YTD: 0.42%
• 6M: 0.85%
• 1Y: 6.42%
• 3Y*: 6.57%
• 5Y*: 2.89%
• 10Y*: 4.77%

DFIV

• 1D: 0.38%
• 1M: -0.58%
• YTD: 10.17%
• 6M: 14.07%
• 1Y: 32.57%
• 3Y*: 23.03%
• 5Y*: —
• 10Y*: —

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

DODLX vs. DFIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DODLX Dodge & Cox Global Bond Fund	0.42%	11.51%	0.55%	12.30%	-8.21%	-1.48%
DFIV Dimensional International Value ETF	10.17%	45.36%	7.26%	17.75%	-3.70%	0.08%

Correlation

The correlation between DODLX and DFIV is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since Sep 14, 2021	0.49

The correlation between DODLX and DFIV has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.

Return for Risk

DODLX vs. DFIV — Risk / Return Rank

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

DODLX

DODLX Risk / Return Rank: 24
DODLX Sharpe Ratio Rank: 26
DODLX Sortino Ratio Rank: 26
DODLX Omega Ratio Rank: 26
DODLX Calmar Ratio Rank: 23
DODLX Martin Ratio Rank: 21

DFIV

DFIV Risk / Return Rank: 78
DFIV Sharpe Ratio Rank: 81
DFIV Sortino Ratio Rank: 80
DFIV Omega Ratio Rank: 79
DFIV Calmar Ratio Rank: 74
DFIV Martin Ratio Rank: 76

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.

DODLX vs. DFIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Global Bond Fund (DODLX) and Dimensional International Value ETF (DFIV). 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.

	DODLX	DFIV	Difference
Sharpe ratio: Return per unit of total volatility	1.38	2.36	-0.98
Sortino ratio: Return per unit of downside risk	2.00	3.20	-1.21
Omega ratio: Gain probability vs. loss probability	1.26	1.42	-0.17
Calmar ratio: Return relative to maximum drawdown	1.63	3.39	-1.76
Martin ratio: Return relative to average drawdown	5.13	13.05	-7.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DODLX vs. DFIV - Sharpe Ratio Comparison

The current DODLX Sharpe Ratio is 1.38, which is lower than the DFIV Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of DODLX and DFIV, 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

	DODLX	DFIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	2.36	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.91	-0.13

Drawdowns

DODLX vs. DFIV - Drawdown Comparison

The maximum DODLX drawdown since its inception was -16.30%, smaller than the maximum DFIV drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for DODLX and DFIV.

Drawdown Indicators

	DODLX	DFIV	Difference
Max Drawdown Largest peak-to-trough decline	-16.30%	-25.42%	+9.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.67%	-9.66%	+5.99%
Max Drawdown (3Y) Largest decline over 3 years	-6.21%	-14.72%	+8.51%
Max Drawdown (5Y) Largest decline over 5 years	-16.30%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.30%	—	—
Current Drawdown Current decline from peak	-2.27%	-2.23%	-0.04%
Average Drawdown Average peak-to-trough decline	-3.04%	-4.47%	+1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	2.50%	-1.34%

Volatility

DODLX vs. DFIV - Volatility Comparison

The current volatility for Dodge & Cox Global Bond Fund (DODLX) is 1.71%, while Dimensional International Value ETF (DFIV) has a volatility of 3.83%. This indicates that DODLX experiences smaller price fluctuations and is considered to be less risky than DFIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DODLX	DFIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.71%	3.83%	-2.12%
Volatility (6M) Calculated over the trailing 6-month period	3.42%	11.26%	-7.84%
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	13.91%	-9.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.25%	16.65%	-11.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.81%	16.65%	-11.84%

DODLX vs. DFIV - Expense Ratio Comparison

DODLX has a 0.45% expense ratio, which is higher than DFIV's 0.27% expense ratio.

Dividends

DODLX vs. DFIV - Dividend Comparison

DODLX's dividend yield for the trailing twelve months is around 4.07%, more than DFIV's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DFIV Dimensional International Value ETF	2.59%	2.92%	3.88%	3.93%	3.84%	2.30%	0.00%	0.00%	0.00%	0.00%	0.00%
DODLX Dodge & Cox Global Bond Fund	4.07%	4.07%	4.73%	3.31%	5.05%	3.86%	2.66%	3.40%	5.19%	2.45%	1.69%

Frequently Asked Questions

Can I hold both DODLX and DFIV in my portfolio?

DODLX and DFIV have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DODLX or DFIV?

DFIV has higher volatility (3.83%) compared to DODLX (1.71%). In terms of maximum drawdown, DODLX dropped -16.30% vs DFIV's -25.42%.

Which has better risk-adjusted returns?

DFIV currently has the higher Sharpe Ratio (2.36 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.