DODLX vs. VBMFX
DODLX (Dodge & Cox Global Bond Fund) and VBMFX (Vanguard Total Bond Market Index Fund) are both mutual funds - DODLX is a Global Bonds fund managed by Dodge & Cox, while VBMFX is a Intermediate Core Bond fund managed by Vanguard. Over the past 10 years, DODLX returned 4.83%/yr vs 1.45%/yr for VBMFX. A 0.53 correlation means they provide meaningful diversification when combined. DODLX charges 0.45%/yr vs 0.15%/yr for VBMFX.
Performance
DODLX vs. VBMFX - Performance Comparison
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Returns By Period
In the year-to-date period, DODLX achieves a 1.23% return, which is significantly higher than VBMFX's 0.38% return. Over the past 10 years, DODLX has outperformed VBMFX with an annualized return of 4.83%, while VBMFX has yielded a comparatively lower 1.45% annualized return.
DODLX
- 1D
- -0.09%
- 1M
- 0.98%
- YTD
- 1.23%
- 6M
- 1.50%
- 1Y
- 6.21%
- 3Y*
- 6.58%
- 5Y*
- 3.09%
- 10Y*
- 4.83%
VBMFX
- 1D
- 0.31%
- 1M
- 0.96%
- YTD
- 0.38%
- 6M
- 0.70%
- 1Y
- 4.57%
- 3Y*
- 3.97%
- 5Y*
- -0.09%
- 10Y*
- 1.45%
DODLX vs. VBMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DODLX Dodge & Cox Global Bond Fund | 1.23% | 11.51% | 0.55% | 12.30% | -8.21% | -0.85% | 11.87% | 12.23% | -1.45% | 8.31% |
VBMFX Vanguard Total Bond Market Index Fund | 0.38% | 7.05% | 1.15% | 5.62% | -13.25% | -2.04% | 7.63% | 8.61% | -0.34% | 3.45% |
Correlation
The correlation between DODLX and VBMFX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 1, 2014 | 0.53 |
Over the past year, DODLX and VBMFX have become more correlated (0.81) than their long-term average of 0.53, meaning their price movements have been converging.
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Return for Risk
DODLX vs. VBMFX — Risk / Return Rank
DODLX
VBMFX
DODLX vs. VBMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Global Bond Fund (DODLX) and Vanguard Total Bond Market Index Fund (VBMFX). 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.
| DODLX | VBMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.21 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 1.58 | +0.12 |
| Martin ratioReturn relative to average drawdown | 5.18 | 4.48 | +0.70 |
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Drawdowns
DODLX vs. VBMFX - Drawdown Comparison
The maximum DODLX drawdown since its inception was -16.30%, smaller than the maximum VBMFX drawdown of -19.08%. Use the drawdown chart below to compare losses from any high point for DODLX and VBMFX.
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Drawdown Indicators
| DODLX | VBMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.30% | -19.08% | +2.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.67% | -2.91% | -0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -6.21% | -6.02% | -0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -16.30% | -18.24% | +1.94% |
Max Drawdown (10Y)Largest decline over 10 years | -16.30% | -19.08% | +2.78% |
Current DrawdownCurrent decline from peak | -1.49% | -2.90% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -3.03% | -2.70% | -0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.02% | +0.18% |
Volatility
DODLX vs. VBMFX - Volatility Comparison
Dodge & Cox Global Bond Fund (DODLX) has a higher volatility of 1.53% compared to Vanguard Total Bond Market Index Fund (VBMFX) at 1.20%. This indicates that DODLX's price experiences larger fluctuations and is considered to be riskier than VBMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DODLX | VBMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 1.20% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 3.49% | 2.85% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 3.89% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 6.01% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.82% | 4.98% | -0.16% |
DODLX vs. VBMFX - Expense Ratio Comparison
DODLX has a 0.45% expense ratio, which is higher than VBMFX's 0.15% expense ratio.
Dividends
DODLX vs. VBMFX - Dividend Comparison
DODLX's dividend yield for the trailing twelve months is around 4.04%, more than VBMFX's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODLX Dodge & Cox Global Bond Fund | 4.04% | 4.07% | 4.73% | 3.31% | 5.05% | 3.86% | 2.66% | 3.40% | 5.19% | 2.45% | 1.69% | 0.00% |
VBMFX Vanguard Total Bond Market Index Fund | 3.87% | 3.76% | 3.57% | 2.99% | 2.49% | 1.72% | 2.31% | 2.63% | 2.47% | 2.45% | 2.43% | 2.71% |
Frequently Asked Questions
DODLX and VBMFX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DODLX has higher volatility (1.53%) compared to VBMFX (1.20%). In terms of maximum drawdown, DODLX dropped -16.30% vs VBMFX's -19.08%.
DODLX currently has the higher Sharpe Ratio (1.44 vs 1.18), 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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