DODLX vs. VEMBX
DODLX (Dodge & Cox Global Bond Fund Class I) and VEMBX (Vanguard Emerging Markets Bond Fund Investor Shares) are both mutual funds - DODLX is a Global Bonds fund managed by Dodge & Cox, while VEMBX is a Emerging Markets Bonds fund managed by Vanguard. Over the past 5 years, DODLX returned 2.84%/yr vs 3.99%/yr for VEMBX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. DODLX charges 0.45%/yr vs 0.50%/yr for VEMBX.
Performance
DODLX vs. VEMBX - Performance Comparison
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Returns By Period
In the year-to-date period, DODLX achieves a 0.79% return, which is significantly lower than VEMBX's 2.14% return.
DODLX
- 1D
- 0.27%
- 1M
- -0.45%
- 6M
- -0.36%
- YTD
- 0.79%
- 1Y
- 4.00%
- 3Y*
- 5.93%
- 5Y*
- 2.84%
- 10Y*
- 4.56%
- ALL TIME*
- 3.55%
VEMBX
- 1D
- -0.09%
- 1M
- -1.12%
- 6M
- 1.57%
- YTD
- 2.14%
- 1Y
- 8.80%
- 3Y*
- 9.83%
- 5Y*
- 3.99%
- 10Y*
- —
- ALL TIME*
- 6.63%
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 |
DODLX vs. VEMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DODLX Dodge & Cox Global Bond Fund Class I | 0.79% | 11.51% | 0.55% | 12.30% | -8.21% | -0.85% | 11.87% | 12.23% | -1.45% | 8.31% |
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares | 2.14% | 14.32% | 7.38% | 13.66% | -13.18% | -1.53% | 14.99% | 17.72% | -0.89% | 13.12% |
Correlation
The correlation between DODLX and VEMBX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.75 |
The correlation between DODLX and VEMBX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.
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Return for Risk
DODLX vs. VEMBX — Risk / Return Rank
DODLX
VEMBX
DODLX vs. VEMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Global Bond Fund Class I (DODLX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX). 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 | VEMBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.42 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 2.43 | -1.11 |
| Martin ratioReturn relative to average drawdown | 3.64 | 10.42 | -6.78 |
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Drawdowns
DODLX vs. VEMBX - Drawdown Comparison
The maximum DODLX drawdown since its inception was -16.30%, smaller than the maximum VEMBX drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for DODLX and VEMBX.
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Drawdown Indicators
| DODLX | VEMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.30% | -24.36% | +8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -3.67% | -3.77% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -6.21% | -5.00% | -1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -16.30% | -24.36% | +8.06% |
Max Drawdown (10Y)Largest decline over 10 years | -16.30% | — | — |
Current DrawdownCurrent decline from peak | -1.91% | -1.36% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -3.02% | -3.82% | +0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 0.88% | +0.45% |
Volatility
DODLX vs. VEMBX - Volatility Comparison
Dodge & Cox Global Bond Fund Class I (DODLX) has a higher volatility of 1.10% compared to Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX) at 1.00%. This indicates that DODLX's price experiences larger fluctuations and is considered to be riskier than VEMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DODLX | VEMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.00% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.59% | 3.67% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 4.32% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 6.38% | -1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.81% | 6.33% | -1.52% |
DODLX vs. VEMBX - Expense Ratio Comparison
DODLX has a 0.45% expense ratio, which is lower than VEMBX's 0.50% expense ratio.
Dividends
DODLX vs. VEMBX - Dividend Comparison
DODLX's dividend yield for the trailing twelve months is around 4.15%, less than VEMBX's 5.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DODLX Dodge & Cox Global Bond Fund Class I | 4.15% | 4.07% | 4.73% | 3.31% | 5.05% | 3.86% | 2.66% | 3.40% | 5.19% | 2.45% | 1.69% |
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares | 5.50% | 6.20% | 6.86% | 7.06% | 5.43% | 5.00% | 4.50% | 6.27% | 4.81% | 6.50% | 0.00% |
Frequently Asked Questions
DODLX and VEMBX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DODLX has higher volatility (1.10%) compared to VEMBX (1.00%). In terms of maximum drawdown, DODLX dropped -16.30% vs VEMBX's -24.36%.
VEMBX currently has the higher Sharpe Ratio (2.12 vs 1.13), 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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