ICMBX vs. DGTSX

Last updated Jun 23, 2026

ICMBX (Intrepid Capital Fund) and DGTSX (DFA Global Allocation 25/75 Portfolio) are both Diversified Portfolio funds. Over the past 10 years, ICMBX returned 5.83%/yr vs 5.23%/yr for DGTSX. Their correlation of 0.81 suggests significant overlap in exposure. ICMBX charges 1.40%/yr vs 0.24%/yr for DGTSX.

Performance

ICMBX vs. DGTSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intrepid Capital Fund (ICMBX) and DFA Global Allocation 25/75 Portfolio (DGTSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ICMBX having a 4.18% return and DGTSX slightly higher at 4.30%. Over the past 10 years, ICMBX has outperformed DGTSX with an annualized return of 5.83%, while DGTSX has yielded a comparatively lower 5.23% annualized return.

ICMBX

• 1D: 0.42%
• 1M: 0.49%
• YTD: 4.18%
• 6M: 3.52%
• 1Y: 14.27%
• 3Y*: 13.86%
• 5Y*: 7.19%
• 10Y*: 5.83%

DGTSX

• 1D: 0.34%
• 1M: 0.76%
• YTD: 4.30%
• 6M: 4.30%
• 1Y: 9.92%
• 3Y*: 8.27%
• 5Y*: 5.39%
• 10Y*: 5.23%

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

ICMBX vs. DGTSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICMBX Intrepid Capital Fund	4.18%	13.45%	15.40%	14.18%	-12.44%	12.85%	9.18%	6.45%	-13.37%	8.09%
DGTSX DFA Global Allocation 25/75 Portfolio	4.30%	8.39%	7.43%	8.93%	-8.06%	10.20%	7.29%	9.80%	-1.85%	5.83%

Correlation

The correlation between ICMBX and DGTSX 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	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 5, 2005	0.81

The correlation between ICMBX and DGTSX has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

Return for Risk

ICMBX vs. DGTSX — Risk / Return Rank

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

ICMBX

ICMBX Risk / Return Rank: 37
ICMBX Sharpe Ratio Rank: 38
ICMBX Sortino Ratio Rank: 38
ICMBX Omega Ratio Rank: 35
ICMBX Calmar Ratio Rank: 35
ICMBX Martin Ratio Rank: 41

DGTSX

DGTSX Risk / Return Rank: 89
DGTSX Sharpe Ratio Rank: 91
DGTSX Sortino Ratio Rank: 91
DGTSX Omega Ratio Rank: 88
DGTSX Calmar Ratio Rank: 85
DGTSX Martin Ratio Rank: 90

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.

ICMBX vs. DGTSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intrepid Capital Fund (ICMBX) and DFA Global Allocation 25/75 Portfolio (DGTSX). 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.

	ICMBX	DGTSX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.79	-1.14
Sortino ratio: Return per unit of downside risk	2.40	4.16	-1.76
Omega ratio: Gain probability vs. loss probability	1.29	1.57	-0.28
Calmar ratio: Return relative to maximum drawdown	2.10	3.79	-1.68
Martin ratio: Return relative to average drawdown	8.34	16.65	-8.31

ICMBX vs. DGTSX - Sharpe Ratio Comparison

The current ICMBX Sharpe Ratio is 1.65, which is lower than the DGTSX Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of ICMBX and DGTSX, 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

ICMBX vs. DGTSX - Drawdown Comparison

The maximum ICMBX drawdown since its inception was -33.71%, which is greater than DGTSX's maximum drawdown of -16.71%. Use the drawdown chart below to compare losses from any high point for ICMBX and DGTSX.

Drawdown Indicators

	ICMBX	DGTSX	Difference
Max Drawdown Largest peak-to-trough decline	-33.71%	-16.71%	-17.00%
Max Drawdown (1Y) Largest decline over 1 year	-6.89%	-2.64%	-4.25%
Max Drawdown (3Y) Largest decline over 3 years	-11.49%	-7.46%	-4.03%
Max Drawdown (5Y) Largest decline over 5 years	-17.76%	-11.26%	-6.50%
Max Drawdown (10Y) Largest decline over 10 years	-33.71%	-11.26%	-22.45%
Current Drawdown Current decline from peak	-0.82%	-0.14%	-0.68%
Average Drawdown Average peak-to-trough decline	-4.53%	-1.64%	-2.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	0.60%	+1.14%

Volatility

ICMBX vs. DGTSX - Volatility Comparison

Intrepid Capital Fund (ICMBX) has a higher volatility of 2.40% compared to DFA Global Allocation 25/75 Portfolio (DGTSX) at 1.42%. This indicates that ICMBX's price experiences larger fluctuations and is considered to be riskier than DGTSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICMBX	DGTSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	1.42%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	6.53%	2.98%	+3.55%
Volatility (1Y) Calculated over the trailing 1-year period	8.79%	3.59%	+5.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.88%	5.98%	+4.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.32%	5.24%	+6.08%

ICMBX vs. DGTSX - Expense Ratio Comparison

ICMBX has a 1.40% expense ratio, which is higher than DGTSX's 0.24% expense ratio.

Dividends

ICMBX vs. DGTSX - Dividend Comparison

ICMBX's dividend yield for the trailing twelve months is around 1.75%, less than DGTSX's 5.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGTSX DFA Global Allocation 25/75 Portfolio	5.70%	5.54%	7.28%	4.75%	2.77%	7.62%	2.12%	2.57%	2.99%	1.25%	1.26%	1.50%
ICMBX Intrepid Capital Fund	1.75%	2.15%	2.96%	4.14%	1.82%	2.10%	1.68%	5.47%	3.48%	2.96%	3.64%	2.19%

Frequently Asked Questions

Can I hold both ICMBX and DGTSX in my portfolio?

ICMBX and DGTSX 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, ICMBX or DGTSX?

ICMBX has higher volatility (2.40%) compared to DGTSX (1.42%). In terms of maximum drawdown, ICMBX dropped -33.71% vs DGTSX's -16.71%.

Which has better risk-adjusted returns?

DGTSX currently has the higher Sharpe Ratio (2.79 vs 1.65), 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.