DODLX vs. HYBB
DODLX (Dodge & Cox Global Bond Fund) and HYBB (iShares BB Rated Corporate Bond ETF) are both funds - DODLX is a Global Bonds fund managed by Dodge & Cox, while HYBB is a High Yield Bonds fund tracking the ICE BofA BB US High Yield Constrained Index (USD). Over the past 5 years, DODLX returned 2.89%/yr vs 3.53%/yr for HYBB. A 0.64 correlation means they provide meaningful diversification when combined. DODLX charges 0.45%/yr vs 0.25%/yr for HYBB.
Performance
DODLX vs. HYBB - Performance Comparison
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Returns By Period
In the year-to-date period, DODLX achieves a 0.42% return, which is significantly lower than HYBB's 1.17% 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%
HYBB
- 1D
- 0.04%
- 1M
- 0.03%
- YTD
- 1.17%
- 6M
- 1.84%
- 1Y
- 6.45%
- 3Y*
- 7.83%
- 5Y*
- 3.53%
- 10Y*
- —
DODLX vs. HYBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DODLX Dodge & Cox Global Bond Fund | 0.42% | 11.51% | 0.55% | 12.30% | -8.21% | -0.85% | 5.23% |
HYBB iShares BB Rated Corporate Bond ETF | 1.17% | 8.95% | 6.35% | 10.53% | -10.11% | 3.36% | 4.46% |
Correlation
The correlation between DODLX and HYBB is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2020 | 0.64 |
The correlation between DODLX and HYBB has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.
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Return for Risk
DODLX vs. HYBB — Risk / Return Rank
DODLX
HYBB
DODLX vs. HYBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Global Bond Fund (DODLX) and iShares BB Rated Corporate Bond ETF (HYBB). 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 | HYBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 2.61 | -0.98 |
| Martin ratioReturn relative to average drawdown | 5.13 | 11.74 | -6.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DODLX | HYBB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 1.98 | -0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.51 | +0.04 |
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 | 0.62 | +0.16 |
Drawdowns
DODLX vs. HYBB - Drawdown Comparison
The maximum DODLX drawdown since its inception was -16.30%, which is greater than HYBB's maximum drawdown of -15.28%. Use the drawdown chart below to compare losses from any high point for DODLX and HYBB.
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Drawdown Indicators
| DODLX | HYBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.30% | -15.28% | -1.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.67% | -2.48% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -6.21% | -4.01% | -2.20% |
Max Drawdown (5Y)Largest decline over 5 years | -16.30% | -15.28% | -1.02% |
Max Drawdown (10Y)Largest decline over 10 years | -16.30% | — | — |
Current DrawdownCurrent decline from peak | -2.27% | -0.47% | -1.80% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -3.22% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 0.55% | +0.61% |
Volatility
DODLX vs. HYBB - Volatility Comparison
Dodge & Cox Global Bond Fund (DODLX) has a higher volatility of 1.71% compared to iShares BB Rated Corporate Bond ETF (HYBB) at 0.92%. This indicates that DODLX's price experiences larger fluctuations and is considered to be riskier than HYBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DODLX | HYBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 0.92% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 2.57% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 3.29% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.25% | 6.93% | -1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.81% | 6.67% | -1.86% |
DODLX vs. HYBB - Expense Ratio Comparison
DODLX has a 0.45% expense ratio, which is higher than HYBB's 0.25% expense ratio.
Dividends
DODLX vs. HYBB - Dividend Comparison
DODLX's dividend yield for the trailing twelve months is around 4.07%, less than HYBB's 5.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HYBB iShares BB Rated Corporate Bond ETF | 5.88% | 6.08% | 6.22% | 6.28% | 5.04% | 3.86% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DODLX and HYBB have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DODLX has higher volatility (1.71%) compared to HYBB (0.92%). In terms of maximum drawdown, DODLX dropped -16.30% vs HYBB's -15.28%.
HYBB currently has the higher Sharpe Ratio (1.98 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.
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