DOXLX vs. DODWX

Last updated Jun 5, 2026

DOXLX (Dodge & Cox Global Bond Fund) and DODWX (Dodge & Cox Global Stock Fund Class I) are both mutual funds - DOXLX is a Global Bonds fund actively managed by Dodge & Cox, while DODWX is a Global Equities fund tracking the MSCI All Country World Index. DOXLX is actively managed, while DODWX is passively managed. Over the past 3 years, DOXLX returned 6.94%/yr vs 16.33%/yr for DODWX. At a 0.46 correlation, their price movements are largely independent. DOXLX charges 0.37%/yr vs 0.62%/yr for DODWX.

Performance

DOXLX vs. DODWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Global Bond Fund (DOXLX) and Dodge & Cox Global Stock Fund Class I (DODWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOXLX achieves a 0.98% return, which is significantly lower than DODWX's 6.77% return.

DOXLX

• 1D: -0.35%
• 1M: 0.18%
• YTD: 0.98%
• 6M: 0.98%
• 1Y: 6.39%
• 3Y*: 6.94%
• 5Y*: —
• 10Y*: —

DODWX

• 1D: -0.88%
• 1M: 1.08%
• YTD: 6.77%
• 6M: 8.92%
• 1Y: 20.13%
• 3Y*: 16.33%
• 5Y*: 9.11%
• 10Y*: 11.81%

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

DOXLX vs. DODWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DOXLX Dodge & Cox Global Bond Fund	0.98%	11.60%	0.63%	12.48%	0.43%
DODWX Dodge & Cox Global Stock Fund Class I	6.77%	25.23%	4.74%	20.26%	-3.35%

Correlation

The correlation between DOXLX and DODWX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.46

Return for Risk

DOXLX vs. DODWX — Risk / Return Rank

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

DOXLX

DOXLX Risk / Return Rank: 32
DOXLX Sharpe Ratio Rank: 34
DOXLX Sortino Ratio Rank: 35
DOXLX Omega Ratio Rank: 35
DOXLX Calmar Ratio Rank: 29
DOXLX Martin Ratio Rank: 26

DODWX

DODWX Risk / Return Rank: 38
DODWX Sharpe Ratio Rank: 38
DODWX Sortino Ratio Rank: 36
DODWX Omega Ratio Rank: 37
DODWX Calmar Ratio Rank: 36
DODWX Martin Ratio Rank: 42

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.

DOXLX vs. DODWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Global Bond Fund (DOXLX) and Dodge & Cox Global Stock Fund Class I (DODWX). 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.

	DOXLX	DODWX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.78	-0.18
Sortino ratio: Return per unit of downside risk	2.38	2.51	-0.13
Omega ratio: Gain probability vs. loss probability	1.30	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	1.92	2.26	-0.34
Martin ratio: Return relative to average drawdown	6.11	8.83	-2.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DOXLX vs. DODWX - Sharpe Ratio Comparison

The current DOXLX Sharpe Ratio is 1.61, which is comparable to the DODWX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of DOXLX and DODWX, 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

	DOXLX	DODWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	1.78	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.50	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	0.35	+0.80

Drawdowns

DOXLX vs. DODWX - Drawdown Comparison

The maximum DOXLX drawdown since its inception was -8.14%, smaller than the maximum DODWX drawdown of -63.00%. Use the drawdown chart below to compare losses from any high point for DOXLX and DODWX.

Drawdown Indicators

	DOXLX	DODWX	Difference
Max Drawdown Largest peak-to-trough decline	-8.14%	-63.00%	+54.86%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-9.11%	+5.46%
Max Drawdown (3Y) Largest decline over 3 years	-6.12%	-19.25%	+13.13%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.78%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.17%	—
Current Drawdown Current decline from peak	-1.73%	-1.23%	-0.50%
Average Drawdown Average peak-to-trough decline	-1.63%	-9.85%	+8.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	2.33%	-1.19%

Volatility

DOXLX vs. DODWX - Volatility Comparison

The current volatility for Dodge & Cox Global Bond Fund (DOXLX) is 1.70%, while Dodge & Cox Global Stock Fund Class I (DODWX) has a volatility of 3.04%. This indicates that DOXLX experiences smaller price fluctuations and is considered to be less risky than DODWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOXLX	DODWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.70%	3.04%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	3.36%	8.87%	-5.51%
Volatility (1Y) Calculated over the trailing 1-year period	4.35%	11.55%	-7.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.48%	18.23%	-12.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	19.58%	-14.10%

DOXLX vs. DODWX - Expense Ratio Comparison

DOXLX has a 0.37% expense ratio, which is lower than DODWX's 0.62% expense ratio.

Dividends

DOXLX vs. DODWX - Dividend Comparison

DOXLX's dividend yield for the trailing twelve months is around 4.12%, less than DODWX's 7.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DODWX Dodge & Cox Global Stock Fund Class I	7.88%	8.41%	14.35%	1.62%	7.73%	10.76%	1.31%	7.41%	9.78%	4.37%	2.86%	3.95%
DOXLX Dodge & Cox Global Bond Fund	4.12%	4.14%	4.81%	3.36%	4.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DOXLX and DODWX in my portfolio?

DOXLX and DODWX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOXLX or DODWX?

DODWX has higher volatility (3.04%) compared to DOXLX (1.70%). In terms of maximum drawdown, DOXLX dropped -8.14% vs DODWX's -63.00%.

Which has better risk-adjusted returns?

DODWX currently has the higher Sharpe Ratio (1.78 vs 1.61), 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.