DODLX vs. VARBX
Compare and contrast key facts about Dodge & Cox Global Bond Fund (DODLX) and Vivaldi Merger Arbitrage Fund Class I (VARBX).
DODLX is managed by Dodge & Cox. It was launched on Apr 30, 2014. VARBX is managed by First Trust. It was launched on Oct 1, 2015.
Performance
DODLX vs. VARBX - Performance Comparison
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DODLX vs. VARBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DODLX Dodge & Cox Global Bond Fund | -0.21% | 11.51% | 0.55% | 12.30% | -8.21% | -0.85% | 11.87% | 12.23% | -1.45% | 8.31% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 0.85% | 6.06% | 12.64% | 3.30% | 2.38% | 5.42% | 4.00% | 4.28% | 4.11% | 2.39% |
Returns By Period
In the year-to-date period, DODLX achieves a -0.21% return, which is significantly lower than VARBX's 0.85% return. Over the past 10 years, DODLX has outperformed VARBX with an annualized return of 4.88%, while VARBX has yielded a comparatively lower 4.45% annualized return.
DODLX
- 1D
- 0.45%
- 1M
- -2.29%
- YTD
- -0.21%
- 6M
- 0.57%
- 1Y
- 6.83%
- 3Y*
- 6.69%
- 5Y*
- 3.17%
- 10Y*
- 4.88%
VARBX
- 1D
- 0.09%
- 1M
- 0.47%
- YTD
- 0.85%
- 6M
- 2.21%
- 1Y
- 5.56%
- 3Y*
- 7.36%
- 5Y*
- 5.39%
- 10Y*
- 4.45%
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DODLX vs. VARBX - Expense Ratio Comparison
DODLX has a 0.45% expense ratio, which is lower than VARBX's 1.81% expense ratio.
Return for Risk
DODLX vs. VARBX — Risk / Return Rank
DODLX
VARBX
DODLX vs. VARBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Global Bond Fund (DODLX) 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.
| DODLX | VARBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.63 | 4.06 | -2.43 |
Sortino ratioReturn per unit of downside risk | 2.31 | 6.90 | -4.59 |
Omega ratioGain probability vs. loss probability | 1.30 | 2.36 | -1.06 |
Calmar ratioReturn relative to maximum drawdown | 2.02 | 8.71 | -6.69 |
Martin ratioReturn relative to average drawdown | 8.00 | 37.63 | -29.63 |
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 | VARBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 4.06 | -2.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 1.64 | -1.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.03 | 1.33 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 1.40 | -0.62 |
Correlation
The correlation between DODLX and VARBX is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
DODLX vs. VARBX - Dividend Comparison
DODLX's dividend yield for the trailing twelve months is around 4.09%, less than VARBX's 5.99% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODLX Dodge & Cox Global Bond Fund | 4.09% | 4.07% | 4.73% | 3.31% | 5.05% | 3.86% | 2.66% | 3.40% | 5.19% | 2.45% | 1.69% | 0.00% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 5.99% | 6.04% | 12.59% | 4.07% | 0.75% | 8.42% | 0.81% | 5.54% | 2.15% | 1.70% | 0.06% | 0.04% |
Drawdowns
DODLX vs. VARBX - Drawdown Comparison
The maximum DODLX drawdown since its inception was -16.30%, which is greater than VARBX's maximum drawdown of -5.12%. Use the drawdown chart below to compare losses from any high point for DODLX and VARBX.
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Drawdown Indicators
| DODLX | VARBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.30% | -5.12% | -11.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.67% | -0.64% | -3.03% |
Max Drawdown (5Y)Largest decline over 5 years | -16.30% | -1.79% | -14.51% |
Max Drawdown (10Y)Largest decline over 10 years | -16.30% | -5.12% | -11.18% |
Current DrawdownCurrent decline from peak | -2.88% | 0.00% | -2.88% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -0.57% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.15% | +0.78% |
Volatility
DODLX vs. VARBX - Volatility Comparison
Dodge & Cox Global Bond Fund (DODLX) has a higher volatility of 2.02% compared to Vivaldi Merger Arbitrage Fund Class I (VARBX) at 0.33%. This indicates that DODLX'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.
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Volatility by Period
| DODLX | VARBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 0.33% | +1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 0.71% | +2.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.46% | 1.35% | +3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.17% | 3.31% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 3.35% | +1.42% |