IEFA vs. DODLX
IEFA (iShares Core MSCI EAFE ETF) and DODLX (Dodge & Cox Global Bond Fund) are both funds - IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net), while DODLX is a Global Bonds fund managed by Dodge & Cox. Over the past 10 years, IEFA returned 9.37%/yr vs 4.77%/yr for DODLX. At a 0.49 correlation, their price movements are largely independent. IEFA charges 0.07%/yr vs 0.45%/yr for DODLX.
Performance
IEFA vs. DODLX - Performance Comparison
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Returns By Period
In the year-to-date period, IEFA achieves a 7.49% return, which is significantly higher than DODLX's 0.42% return. Over the past 10 years, IEFA has outperformed DODLX with an annualized return of 9.37%, while DODLX has yielded a comparatively lower 4.77% annualized return.
IEFA
- 1D
- 0.63%
- 1M
- -1.17%
- YTD
- 7.49%
- 6M
- 10.04%
- 1Y
- 19.61%
- 3Y*
- 16.13%
- 5Y*
- 7.82%
- 10Y*
- 9.37%
DODLX
- 1D
- -0.62%
- 1M
- -0.97%
- YTD
- 0.42%
- 6M
- 0.85%
- 1Y
- 6.42%
- 3Y*
- 6.57%
- 5Y*
- 2.89%
- 10Y*
- 4.77%
IEFA vs. DODLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEFA iShares Core MSCI EAFE ETF | 7.49% | 32.08% | 3.26% | 17.95% | -15.24% | 11.63% | 8.18% | 22.64% | -14.14% | 26.57% |
DODLX Dodge & Cox Global Bond Fund | 0.42% | 11.51% | 0.55% | 12.30% | -8.21% | -0.85% | 11.87% | 12.23% | -1.45% | 8.31% |
Correlation
The correlation between IEFA and DODLX is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since May 2, 2014 | 0.49 |
The correlation between IEFA and DODLX shifts across timeframes, from 0.49 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEFA vs. DODLX — Risk / Return Rank
IEFA
DODLX
IEFA vs. DODLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and Dodge & Cox Global Bond Fund (DODLX). 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.
| IEFA | DODLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.26 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.63 | +0.09 |
| Martin ratioReturn relative to average drawdown | 6.52 | 5.13 | +1.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEFA | DODLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.38 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.55 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.99 | -0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.78 | -0.28 |
Drawdowns
IEFA vs. DODLX - Drawdown Comparison
The maximum IEFA drawdown since its inception was -34.78%, which is greater than DODLX's maximum drawdown of -16.30%. Use the drawdown chart below to compare losses from any high point for IEFA and DODLX.
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Drawdown Indicators
| IEFA | DODLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.78% | -16.30% | -18.48% |
Max Drawdown (1Y)Largest decline over 1 year | -11.50% | -3.67% | -7.83% |
Max Drawdown (3Y)Largest decline over 3 years | -13.76% | -6.21% | -7.55% |
Max Drawdown (5Y)Largest decline over 5 years | -30.41% | -16.30% | -14.11% |
Max Drawdown (10Y)Largest decline over 10 years | -34.78% | -16.30% | -18.48% |
Current DrawdownCurrent decline from peak | -2.44% | -2.27% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -6.69% | -3.04% | -3.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 1.16% | +1.86% |
Volatility
IEFA vs. DODLX - Volatility Comparison
iShares Core MSCI EAFE ETF (IEFA) has a higher volatility of 4.54% compared to Dodge & Cox Global Bond Fund (DODLX) at 1.71%. This indicates that IEFA's price experiences larger fluctuations and is considered to be riskier than DODLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFA | DODLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 1.71% | +2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 12.74% | 3.42% | +9.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.22% | 4.33% | +10.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.55% | 5.25% | +11.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.32% | 4.81% | +12.51% |
IEFA vs. DODLX - Expense Ratio Comparison
IEFA has a 0.07% expense ratio, which is lower than DODLX's 0.45% expense ratio.
Dividends
IEFA vs. DODLX - Dividend Comparison
IEFA's dividend yield for the trailing twelve months is around 3.30%, less than DODLX's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODLX Dodge & Cox Global Bond Fund | 4.07% | 4.07% | 4.73% | 3.31% | 5.05% | 3.86% | 2.66% | 3.40% | 5.19% | 2.45% | 1.69% | 0.00% |
IEFA iShares Core MSCI EAFE ETF | 3.30% | 3.55% | 3.47% | 3.20% | 2.70% | 3.32% | 1.90% | 3.18% | 3.46% | 2.57% | 2.96% | 2.63% |
Frequently Asked Questions
IEFA and DODLX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEFA has higher volatility (4.54%) compared to DODLX (1.71%). In terms of maximum drawdown, IEFA dropped -34.78% vs DODLX's -16.30%.
DODLX currently has the higher Sharpe Ratio (1.38 vs 1.30), 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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