FBIIX vs. DFGP

Last updated Jun 4, 2026

FBIIX (Fidelity International Bond Index Fund) and DFGP (Dimensional Global Core Plus Fixed Income ETF) are both Global Bonds funds. Over the past year, FBIIX returned 2.22% vs 5.12% for DFGP. A 0.70 correlation means they provide meaningful diversification when combined. FBIIX charges 0.06%/yr vs 0.22%/yr for DFGP.

Performance

FBIIX vs. DFGP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Bond Index Fund (FBIIX) and Dimensional Global Core Plus Fixed Income ETF (DFGP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBIIX achieves a 0.83% return, which is significantly lower than DFGP's 1.11% return.

FBIIX

• 1D: 0.11%
• 1M: 0.99%
• YTD: 0.83%
• 6M: 0.60%
• 1Y: 2.22%
• 3Y*: 4.12%
• 5Y*: 0.80%
• 10Y*: —

DFGP

• 1D: -0.23%
• 1M: 0.77%
• YTD: 1.11%
• 6M: 0.81%
• 1Y: 5.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBIIX vs. DFGP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FBIIX Fidelity International Bond Index Fund	0.83%	2.66%	4.64%	4.15%
DFGP Dimensional Global Core Plus Fixed Income ETF	1.11%	5.89%	3.71%	6.24%

Correlation

The correlation between FBIIX and DFGP is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023	0.70

The correlation between FBIIX and DFGP has been stable across timeframes, ranging from 0.68 to 0.70 - a consistent structural relationship.

Return for Risk

FBIIX vs. DFGP — Risk / Return Rank

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

FBIIX

FBIIX Risk / Return Rank: 8
FBIIX Sharpe Ratio Rank: 9
FBIIX Sortino Ratio Rank: 9
FBIIX Omega Ratio Rank: 9
FBIIX Calmar Ratio Rank: 8
FBIIX Martin Ratio Rank: 8

DFGP

DFGP Risk / Return Rank: 35
DFGP Sharpe Ratio Rank: 36
DFGP Sortino Ratio Rank: 35
DFGP Omega Ratio Rank: 34
DFGP Calmar Ratio Rank: 32
DFGP Martin Ratio Rank: 35

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.

FBIIX vs. DFGP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Bond Index Fund (FBIIX) and Dimensional Global Core Plus Fixed Income ETF (DFGP). 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.

	FBIIX	DFGP	Difference
Sharpe ratio: Return per unit of total volatility	0.74	1.30	-0.56
Sortino ratio: Return per unit of downside risk	1.08	1.87	-0.80
Omega ratio: Gain probability vs. loss probability	1.14	1.23	-0.09
Calmar ratio: Return relative to maximum drawdown	0.80	1.59	-0.79
Martin ratio: Return relative to average drawdown	2.24	5.41	-3.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBIIX vs. DFGP - Sharpe Ratio Comparison

The current FBIIX Sharpe Ratio is 0.74, which is lower than the DFGP Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of FBIIX and DFGP, 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

	FBIIX	DFGP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	1.30	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.44	-1.22

Drawdowns

FBIIX vs. DFGP - Drawdown Comparison

The maximum FBIIX drawdown since its inception was -13.79%, which is greater than DFGP's maximum drawdown of -3.24%. Use the drawdown chart below to compare losses from any high point for FBIIX and DFGP.

Drawdown Indicators

	FBIIX	DFGP	Difference
Max Drawdown Largest peak-to-trough decline	-13.79%	-3.24%	-10.55%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-3.24%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-2.78%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.74%	—	—
Current Drawdown Current decline from peak	-1.11%	-0.94%	-0.17%
Average Drawdown Average peak-to-trough decline	-4.12%	-0.78%	-3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	0.95%	+0.04%

Volatility

FBIIX vs. DFGP - Volatility Comparison

The current volatility for Fidelity International Bond Index Fund (FBIIX) is 1.33%, while Dimensional Global Core Plus Fixed Income ETF (DFGP) has a volatility of 1.65%. This indicates that FBIIX experiences smaller price fluctuations and is considered to be less risky than DFGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBIIX	DFGP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.65%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	2.65%	3.25%	-0.60%
Volatility (1Y) Calculated over the trailing 1-year period	2.99%	3.96%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.59%	4.66%	-1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.42%	4.66%	-1.24%

FBIIX vs. DFGP - Expense Ratio Comparison

FBIIX has a 0.06% expense ratio, which is lower than DFGP's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FBIIX vs. DFGP - Dividend Comparison

FBIIX's dividend yield for the trailing twelve months is around 4.18%, more than DFGP's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DFGP Dimensional Global Core Plus Fixed Income ETF	3.64%	3.45%	4.51%	0.62%	0.00%	0.00%	0.00%	0.00%
FBIIX Fidelity International Bond Index Fund	4.18%	4.09%	3.44%	2.85%	1.02%	0.62%	0.74%	0.17%

Frequently Asked Questions

Can I hold both FBIIX and DFGP in my portfolio?

FBIIX and DFGP have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBIIX or DFGP?

DFGP has higher volatility (1.65%) compared to FBIIX (1.33%). In terms of maximum drawdown, FBIIX dropped -13.79% vs DFGP's -3.24%.

Which has better risk-adjusted returns?

DFGP currently has the higher Sharpe Ratio (1.30 vs 0.74), 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.