GBONX vs. DGCFX

Last updated Jun 26, 2026

GBONX (JPMorgan Global Bond Opportunities Fund Class R6) and DGCFX (DFA Global Core Plus Fixed Income Portfolio) are both Global Bonds funds. Over the past 5 years, GBONX returned 2.80%/yr vs 0.73%/yr for DGCFX. A 0.64 correlation means they provide meaningful diversification when combined. GBONX charges 0.51%/yr vs 0.25%/yr for DGCFX.

Performance

GBONX vs. DGCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Global Bond Opportunities Fund Class R6 (GBONX) 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, GBONX achieves a 1.29% return, which is significantly lower than DGCFX's 2.00% return.

GBONX

• 1D: 0.10%
• 1M: 0.73%
• YTD: 1.29%
• 6M: 1.57%
• 1Y: 5.38%
• 3Y*: 6.04%
• 5Y*: 2.80%
• 10Y*: 4.17%

DGCFX

• 1D: 0.32%
• 1M: 1.08%
• YTD: 2.00%
• 6M: 2.00%
• 1Y: 4.87%
• 3Y*: 6.03%
• 5Y*: 0.73%
• 10Y*: —

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

GBONX vs. DGCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GBONX JPMorgan Global Bond Opportunities Fund Class R6	1.29%	8.15%	3.68%	7.01%	-5.89%	1.52%	7.93%	10.73%	-1.48%
DGCFX DFA Global Core Plus Fixed Income Portfolio	2.00%	6.12%	3.57%	10.01%	-15.88%	-2.04%	8.51%	11.55%	1.13%

Correlation

The correlation between GBONX and DGCFX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018	0.64

The correlation between GBONX and DGCFX shifts across timeframes, from 0.64 (all time) to 0.85 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GBONX vs. DGCFX — Risk / Return Rank

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

GBONX

GBONX Risk / Return Rank: 34
GBONX Sharpe Ratio Rank: 38
GBONX Sortino Ratio Rank: 40
GBONX Omega Ratio Rank: 47
GBONX Calmar Ratio Rank: 21
GBONX Martin Ratio Rank: 24

DGCFX

DGCFX Risk / Return Rank: 30
DGCFX Sharpe Ratio Rank: 33
DGCFX Sortino Ratio Rank: 34
DGCFX Omega Ratio Rank: 35
DGCFX Calmar Ratio Rank: 25
DGCFX Martin Ratio Rank: 25

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.

GBONX vs. DGCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Bond Opportunities Fund Class R6 (GBONX) 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.

	GBONX	DGCFX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.38	+0.08
Sortino ratio: Return per unit of downside risk	2.17	2.04	+0.13
Omega ratio: Gain probability vs. loss probability	1.30	1.26	+0.04
Calmar ratio: Return relative to maximum drawdown	1.35	1.54	-0.19
Martin ratio: Return relative to average drawdown	4.74	4.91	-0.17

GBONX vs. DGCFX - Sharpe Ratio Comparison

The current GBONX Sharpe Ratio is 1.46, which is comparable to the DGCFX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of GBONX 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

GBONX vs. DGCFX - Drawdown Comparison

The maximum GBONX drawdown since its inception was -11.56%, smaller than the maximum DGCFX drawdown of -21.77%. Use the drawdown chart below to compare losses from any high point for GBONX and DGCFX.

Drawdown Indicators

	GBONX	DGCFX	Difference
Max Drawdown Largest peak-to-trough decline	-11.56%	-21.77%	+10.21%
Max Drawdown (1Y) Largest decline over 1 year	-4.00%	-3.19%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	-4.00%	-4.20%	+0.20%
Max Drawdown (5Y) Largest decline over 5 years	-10.70%	-21.77%	+11.07%
Max Drawdown (10Y) Largest decline over 10 years	-11.56%	—	—
Current Drawdown Current decline from peak	-0.50%	-0.07%	-0.43%
Average Drawdown Average peak-to-trough decline	-1.48%	-5.34%	+3.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	1.00%	+0.14%

Volatility

GBONX vs. DGCFX - Volatility Comparison

JPMorgan Global Bond Opportunities Fund Class R6 (GBONX) has a higher volatility of 1.18% compared to DFA Global Core Plus Fixed Income Portfolio (DGCFX) at 1.01%. This indicates that GBONX'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

	GBONX	DGCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	1.01%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	3.27%	2.89%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.71%	3.55%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.70%	5.48%	-1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.47%	4.91%	-1.44%

GBONX vs. DGCFX - Expense Ratio Comparison

GBONX has a 0.51% expense ratio, which is higher than DGCFX's 0.25% expense ratio.

Dividends

GBONX vs. DGCFX - Dividend Comparison

GBONX's dividend yield for the trailing twelve months is around 4.84%, more than DGCFX's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGCFX DFA Global Core Plus Fixed Income Portfolio	4.72%	4.22%	4.40%	4.03%	2.26%	2.45%	1.78%	1.92%	6.17%	0.00%	0.00%	0.00%
GBONX JPMorgan Global Bond Opportunities Fund Class R6	4.84%	4.93%	4.56%	4.06%	3.83%	2.76%	3.43%	4.21%	5.89%	3.46%	4.93%	5.25%

Frequently Asked Questions

Can I hold both GBONX and DGCFX in my portfolio?

GBONX and DGCFX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GBONX or DGCFX?

GBONX has higher volatility (1.18%) compared to DGCFX (1.01%). In terms of maximum drawdown, GBONX dropped -11.56% vs DGCFX's -21.77%.

Which has better risk-adjusted returns?

GBONX currently has the higher Sharpe Ratio (1.46 vs 1.38), 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.