FTRBX vs. DODIX
FTRBX (Federated Hermes Total Return Bond Fund Institutional Shares) and DODIX (Dodge & Cox Income Fund) are both mutual funds - FTRBX is a Intermediate Core Bond fund managed by Federated, while DODIX is a Intermediate Core-Plus Bond fund actively managed by Dodge & Cox. Over the past 10 years, FTRBX returned 2.20%/yr vs 2.89%/yr for DODIX. Their correlation of 0.83 suggests significant overlap in exposure. FTRBX charges 0.39%/yr vs 0.41%/yr for DODIX.
Performance
FTRBX vs. DODIX - Performance Comparison
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Returns By Period
In the year-to-date period, FTRBX achieves a -0.17% return, which is significantly lower than DODIX's 0.51% return. Over the past 10 years, FTRBX has underperformed DODIX with an annualized return of 2.20%, while DODIX has yielded a comparatively higher 2.89% annualized return.
FTRBX
- 1D
- 0.11%
- 1M
- 0.81%
- YTD
- -0.17%
- 6M
- 0.34%
- 1Y
- 4.50%
- 3Y*
- 4.21%
- 5Y*
- 0.19%
- 10Y*
- 2.20%
DODIX
- 1D
- 0.08%
- 1M
- 0.79%
- YTD
- 0.51%
- 6M
- 0.43%
- 1Y
- 4.92%
- 3Y*
- 5.12%
- 5Y*
- 1.20%
- 10Y*
- 2.89%
FTRBX vs. DODIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTRBX Federated Hermes Total Return Bond Fund Institutional Shares | -0.17% | 7.60% | 2.03% | 5.20% | -13.13% | -0.21% | 9.52% | 9.75% | -0.85% | 4.41% |
DODIX Dodge & Cox Income Fund | 0.51% | 8.32% | 2.25% | 7.69% | -11.42% | -0.92% | 9.46% | 9.73% | -0.31% | 4.36% |
Correlation
The correlation between FTRBX and DODIX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 1996 | 0.83 |
Over the past year, the correlation between FTRBX and DODIX has dropped to 0.42 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.
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Return for Risk
FTRBX vs. DODIX — Risk / Return Rank
FTRBX
DODIX
FTRBX vs. DODIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Total Return Bond Fund Institutional Shares (FTRBX) and Dodge & Cox Income Fund (DODIX). 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.
| FTRBX | DODIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.66 | -0.05 |
| Martin ratioReturn relative to average drawdown | 4.73 | 4.72 | 0.00 |
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Drawdowns
FTRBX vs. DODIX - Drawdown Comparison
The maximum FTRBX drawdown since its inception was -17.49%, roughly equal to the maximum DODIX drawdown of -16.89%. Use the drawdown chart below to compare losses from any high point for FTRBX and DODIX.
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Drawdown Indicators
| FTRBX | DODIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.49% | -16.89% | -0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -3.17% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -6.21% | -5.68% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -16.89% | -0.60% |
Max Drawdown (10Y)Largest decline over 10 years | -17.49% | -16.89% | -0.60% |
Current DrawdownCurrent decline from peak | -1.40% | -1.63% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -2.03% | -1.50% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 1.11% | -0.16% |
Volatility
FTRBX vs. DODIX - Volatility Comparison
Federated Hermes Total Return Bond Fund Institutional Shares (FTRBX) has a higher volatility of 1.30% compared to Dodge & Cox Income Fund (DODIX) at 1.11%. This indicates that FTRBX's price experiences larger fluctuations and is considered to be riskier than DODIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTRBX | DODIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.11% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.84% | 3.06% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 4.06% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.91% | 5.57% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.81% | 4.46% | +0.35% |
FTRBX vs. DODIX - Expense Ratio Comparison
FTRBX has a 0.39% expense ratio, which is lower than DODIX's 0.41% expense ratio.
Dividends
FTRBX vs. DODIX - Dividend Comparison
FTRBX's dividend yield for the trailing twelve months is around 4.56%, more than DODIX's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODIX Dodge & Cox Income Fund | 4.26% | 4.23% | 4.24% | 3.86% | 2.19% | 3.23% | 4.66% | 3.63% | 3.43% | 3.03% | 3.25% | 3.09% |
FTRBX Federated Hermes Total Return Bond Fund Institutional Shares | 4.56% | 4.52% | 4.47% | 3.84% | 2.47% | 3.43% | 4.66% | 3.38% | 3.49% | 3.21% | 3.35% | 3.53% |
Frequently Asked Questions
FTRBX and DODIX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTRBX has higher volatility (1.30%) compared to DODIX (1.11%). In terms of maximum drawdown, FTRBX dropped -17.49% vs DODIX's -16.89%.
DODIX currently has the higher Sharpe Ratio (1.30 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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