DOXIX vs. VOO

Last updated Jun 3, 2026

DOXIX (Dodge & Cox Income Fund Class X) and VOO (Vanguard S&P 500 ETF) are both funds - DOXIX is a Intermediate Core-Plus Bond fund actively managed by Dodge & Cox, while VOO is a S&P 500 fund tracking the S&P 500 Index. DOXIX is actively managed, while VOO is passively managed. Over the past 3 years, DOXIX returned 5.31%/yr vs 22.73%/yr for VOO. At a 0.25 correlation, their price movements are largely independent. DOXIX charges 0.33%/yr vs 0.03%/yr for VOO.

Performance

DOXIX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Income Fund Class X (DOXIX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOXIX achieves a 0.45% return, which is significantly lower than VOO's 11.69% return.

DOXIX

• 1D: -0.08%
• 1M: 0.08%
• YTD: 0.45%
• 6M: 0.59%
• 1Y: 6.42%
• 3Y*: 5.31%
• 5Y*: —
• 10Y*: —

VOO

• 1D: 0.14%
• 1M: 5.39%
• YTD: 11.69%
• 6M: 12.11%
• 1Y: 29.68%
• 3Y*: 22.73%
• 5Y*: 14.26%
• 10Y*: 15.65%

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

DOXIX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DOXIX Dodge & Cox Income Fund Class X	0.45%	8.39%	2.33%	7.75%	-2.35%
VOO Vanguard S&P 500 ETF	11.69%	17.82%	24.98%	26.32%	-6.98%

Correlation

The correlation between DOXIX and VOO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.25

Return for Risk

DOXIX vs. VOO — Risk / Return Rank

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

DOXIX

DOXIX Risk / Return Rank: 28
DOXIX Sharpe Ratio Rank: 28
DOXIX Sortino Ratio Rank: 29
DOXIX Omega Ratio Rank: 27
DOXIX Calmar Ratio Rank: 28
DOXIX Martin Ratio Rank: 24

VOO

VOO Risk / Return Rank: 75
VOO Sharpe Ratio Rank: 77
VOO Sortino Ratio Rank: 75
VOO Omega Ratio Rank: 76
VOO Calmar Ratio Rank: 68
VOO Martin Ratio Rank: 80

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.

DOXIX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Income Fund Class X (DOXIX) and Vanguard S&P 500 ETF (VOO). 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.

	DOXIX	VOO	Difference
Sharpe ratio Return per unit of total volatility	1.55	2.53	-0.98
Sortino ratio Return per unit of downside risk	2.29	3.43	-1.14
Omega ratio Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio Return relative to maximum drawdown	2.04	3.42	-1.38
Martin ratio Return relative to average drawdown	6.32	15.95	-9.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DOXIX vs. VOO - Sharpe Ratio Comparison

The current DOXIX Sharpe Ratio is 1.55, which is lower than the VOO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of DOXIX and VOO, 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

	DOXIX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	2.53	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.89	-0.21

Drawdowns

DOXIX vs. VOO - Drawdown Comparison

The maximum DOXIX drawdown since its inception was -8.83%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for DOXIX and VOO.

Drawdown Indicators

	DOXIX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-8.83%	-33.99%	+25.16%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-8.90%	+5.75%
Max Drawdown (3Y) Largest decline over 3 years	-5.66%	-18.69%	+13.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-1.69%	0.00%	-1.69%
Average Drawdown Average peak-to-trough decline	-1.86%	-3.69%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	1.91%	-0.89%

Volatility

DOXIX vs. VOO - Volatility Comparison

The current volatility for Dodge & Cox Income Fund Class X (DOXIX) is 1.42%, while Vanguard S&P 500 ETF (VOO) has a volatility of 2.74%. This indicates that DOXIX experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOXIX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	2.74%	-1.32%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	8.88%	-5.94%
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	11.78%	-7.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.86%	16.81%	-10.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.86%	18.01%	-12.15%

DOXIX vs. VOO - Expense Ratio Comparison

DOXIX has a 0.33% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

DOXIX vs. VOO - Dividend Comparison

DOXIX's dividend yield for the trailing twelve months is around 4.33%, more than VOO's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DOXIX Dodge & Cox Income Fund Class X	4.33%	4.30%	4.32%	3.92%	2.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.02%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both DOXIX and VOO in my portfolio?

DOXIX and VOO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOXIX or VOO?

VOO has higher volatility (2.74%) compared to DOXIX (1.42%). In terms of maximum drawdown, DOXIX dropped -8.83% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.53 vs 1.55), 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.