FCDSX vs. DGCFX

Last updated Jul 14, 2026

FCDSX (Fidelity Series International Credit Fund) and DGCFX (DFA Global Core Plus Fixed Income Portfolio) are both Global Bonds funds. Over the past 5 years, FCDSX returned 0.63%/yr vs 0.39%/yr for DGCFX. Their correlation of 0.86 suggests significant overlap in exposure. FCDSX charges 0.00%/yr vs 0.25%/yr for DGCFX.

Performance

FCDSX vs. DGCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series International Credit Fund (FCDSX) and DFA Global Core Plus Fixed Income Portfolio (DGCFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCDSX achieves a 0.15% return, which is significantly lower than DGCFX's 1.22% return.

FCDSX

• 1D: -0.94%
• 1M: -0.83%
• 6M: -0.21%
• YTD: 0.15%
• 1Y: 3.48%
• 3Y*: 7.70%
• 5Y*: 0.63%
• 10Y*: —

DGCFX

• 1D: 0.00%
• 1M: -0.23%
• 6M: 0.78%
• YTD: 1.22%
• 1Y: 4.24%
• 3Y*: 6.07%
• 5Y*: 0.39%
• 10Y*: —

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

FCDSX vs. DGCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FCDSX Fidelity Series International Credit Fund	0.15%	7.22%	8.47%	7.64%	-17.34%	-0.07%	8.34%	13.86%	0.06%
DGCFX DFA Global Core Plus Fixed Income Portfolio	1.22%	6.12%	3.57%	10.01%	-15.88%	-2.04%	8.51%	11.55%	1.13%

Correlation

The correlation between FCDSX and DGCFX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018	0.86

The correlation between FCDSX and DGCFX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

Return for Risk

FCDSX vs. DGCFX — Risk / Return Rank

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

FCDSX

FCDSX Risk / Return Rank: 23
FCDSX Sharpe Ratio Rank: 25
FCDSX Sortino Ratio Rank: 24
FCDSX Omega Ratio Rank: 26
FCDSX Calmar Ratio Rank: 20
FCDSX Martin Ratio Rank: 19

DGCFX

DGCFX Risk / Return Rank: 24
DGCFX Sharpe Ratio Rank: 26
DGCFX Sortino Ratio Rank: 26
DGCFX Omega Ratio Rank: 27
DGCFX Calmar Ratio Rank: 20
DGCFX Martin Ratio Rank: 22

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.

FCDSX vs. DGCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series International Credit Fund (FCDSX) and DFA Global Core Plus Fixed Income Portfolio (DGCFX). 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.

	FCDSX	DGCFX	Difference
Sharpe ratio: Return per unit of total volatility	1.08	1.10	-0.02
Sortino ratio: Return per unit of downside risk	1.53	1.61	-0.08
Omega ratio: Gain probability vs. loss probability	1.20	1.21	0.00
Calmar ratio: Return relative to maximum drawdown	1.18	1.23	-0.05
Martin ratio: Return relative to average drawdown	3.48	3.94	-0.46

FCDSX vs. DGCFX - Sharpe Ratio Comparison

The current FCDSX Sharpe Ratio is 1.08, which is comparable to the DGCFX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of FCDSX and DGCFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCDSX vs. DGCFX - Drawdown Comparison

The maximum FCDSX drawdown since its inception was -22.33%, roughly equal to the maximum DGCFX drawdown of -21.77%. Use the drawdown chart below to compare losses from any high point for FCDSX and DGCFX.

Drawdown Indicators

	FCDSX	DGCFX	Difference
Max Drawdown Largest peak-to-trough decline	-22.33%	-21.77%	-0.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-3.19%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-2.78%	-4.20%	+1.42%
Max Drawdown (5Y) Largest decline over 5 years	-22.33%	-21.77%	-0.56%
Current Drawdown Current decline from peak	-1.83%	-0.87%	-0.96%
Average Drawdown Average peak-to-trough decline	-5.02%	-5.31%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	1.00%	-0.06%

Volatility

FCDSX vs. DGCFX - Volatility Comparison

Fidelity Series International Credit Fund (FCDSX) has a higher volatility of 1.35% compared to DFA Global Core Plus Fixed Income Portfolio (DGCFX) at 1.02%. This indicates that FCDSX's price experiences larger fluctuations and is considered to be riskier than DGCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCDSX	DGCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.02%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	2.53%	2.94%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	3.06%	3.57%	-0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.46%	5.47%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.13%	4.90%	-0.77%

FCDSX vs. DGCFX - Expense Ratio Comparison

FCDSX has a 0.00% expense ratio, which is lower than DGCFX's 0.25% 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

FCDSX vs. DGCFX - Dividend Comparison

FCDSX's dividend yield for the trailing twelve months is around 3.21%, less than DGCFX's 4.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGCFX DFA Global Core Plus Fixed Income Portfolio	4.75%	4.22%	4.40%	4.03%	2.26%	2.45%	1.78%	1.92%	6.17%	0.00%
FCDSX Fidelity Series International Credit Fund	3.21%	4.58%	4.81%	3.67%	6.73%	3.04%	6.58%	7.12%	4.17%	1.90%

Frequently Asked Questions

Can I hold both FCDSX and DGCFX in my portfolio?

FCDSX and DGCFX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCDSX or DGCFX?

FCDSX has higher volatility (1.35%) compared to DGCFX (1.02%). In terms of maximum drawdown, FCDSX dropped -22.33% vs DGCFX's -21.77%.

Which has better risk-adjusted returns?

DGCFX currently has the higher Sharpe Ratio (1.10 vs 1.08), 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.