MWTRX vs. DODIX

Last updated Jun 4, 2026

MWTRX (Metropolitan West Total Return Bond Fund) and DODIX (Dodge & Cox Income Fund) are both mutual funds - MWTRX is a Intermediate Core-Plus Bond fund managed by Metropolitan West Funds, while DODIX is a Total Bond Market fund managed by Dodge & Cox. Over the past 10 years, MWTRX returned 1.42%/yr vs 2.93%/yr for DODIX. Their correlation of 0.83 suggests significant overlap in exposure. MWTRX charges 0.65%/yr vs 0.41%/yr for DODIX.

Performance

MWTRX vs. DODIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metropolitan West Total Return Bond Fund (MWTRX) and Dodge & Cox Income Fund (DODIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MWTRX achieves a 0.14% return, which is significantly lower than DODIX's 0.51% return. Over the past 10 years, MWTRX has underperformed DODIX with an annualized return of 1.42%, while DODIX has yielded a comparatively higher 2.93% annualized return.

MWTRX

• 1D: 0.00%
• 1M: 0.37%
• YTD: 0.14%
• 6M: -0.07%
• 1Y: 5.36%
• 3Y*: 3.72%
• 5Y*: -0.58%
• 10Y*: 1.42%

DODIX

• 1D: 0.08%
• 1M: 0.55%
• YTD: 0.51%
• 6M: 0.47%
• 1Y: 6.43%
• 3Y*: 5.26%
• 5Y*: 1.31%
• 10Y*: 2.93%

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

MWTRX vs. DODIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MWTRX Metropolitan West Total Return Bond Fund	0.14%	7.29%	0.45%	5.77%	-15.52%	-1.51%	8.79%	8.95%	0.17%	3.10%
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 MWTRX and DODIX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Apr 1, 1997	0.83

The correlation between MWTRX and DODIX shifts across timeframes, from 0.83 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MWTRX vs. DODIX — Risk / Return Rank

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

MWTRX

MWTRX Risk / Return Rank: 18
MWTRX Sharpe Ratio Rank: 19
MWTRX Sortino Ratio Rank: 19
MWTRX Omega Ratio Rank: 17
MWTRX Calmar Ratio Rank: 19
MWTRX Martin Ratio Rank: 18

DODIX

DODIX Risk / Return Rank: 29
DODIX Sharpe Ratio Rank: 30
DODIX Sortino Ratio Rank: 32
DODIX Omega Ratio Rank: 30
DODIX Calmar Ratio Rank: 30
DODIX 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.

MWTRX vs. DODIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Total Return Bond Fund (MWTRX) 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.

	MWTRX	DODIX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.57	-0.34
Sortino ratio: Return per unit of downside risk	1.84	2.33	-0.49
Omega ratio: Gain probability vs. loss probability	1.22	1.29	-0.07
Calmar ratio: Return relative to maximum drawdown	1.60	2.04	-0.44
Martin ratio: Return relative to average drawdown	4.91	6.23	-1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MWTRX vs. DODIX - Sharpe Ratio Comparison

The current MWTRX Sharpe Ratio is 1.23, which is comparable to the DODIX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of MWTRX and DODIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MWTRX	DODIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.57	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	0.24	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	0.66	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.47	-0.48

Drawdowns

MWTRX vs. DODIX - Drawdown Comparison

The maximum MWTRX drawdown since its inception was -20.81%, which is greater than DODIX's maximum drawdown of -16.89%. Use the drawdown chart below to compare losses from any high point for MWTRX and DODIX.

Drawdown Indicators

	MWTRX	DODIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.81%	-16.89%	-3.92%
Max Drawdown (1Y) Largest decline over 1 year	-3.38%	-3.17%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	-7.14%	-5.68%	-1.46%
Max Drawdown (5Y) Largest decline over 5 years	-20.67%	-16.89%	-3.78%
Max Drawdown (10Y) Largest decline over 10 years	-20.81%	-16.89%	-3.92%
Current Drawdown Current decline from peak	-5.02%	-1.63%	-3.39%
Average Drawdown Average peak-to-trough decline	-2.64%	-1.50%	-1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	1.04%	+0.06%

Volatility

MWTRX vs. DODIX - Volatility Comparison

Metropolitan West Total Return Bond Fund (MWTRX) has a higher volatility of 1.62% compared to Dodge & Cox Income Fund (DODIX) at 1.43%. This indicates that MWTRX'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.

Volatility by Period

	MWTRX	DODIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	1.43%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	3.20%	3.00%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	4.39%	4.11%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.64%	5.56%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.31%	4.45%	+0.86%

MWTRX vs. DODIX - Expense Ratio Comparison

MWTRX has a 0.65% expense ratio, which is higher than DODIX's 0.41% expense ratio.

Dividends

MWTRX vs. DODIX - Dividend Comparison

MWTRX's dividend yield for the trailing twelve months is around 3.81%, less 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%
MWTRX Metropolitan West Total Return Bond Fund	3.81%	3.69%	4.16%	3.88%	1.91%	0.93%	6.38%	3.38%	2.73%	1.92%	3.10%	2.69%

Frequently Asked Questions

Can I hold both MWTRX and DODIX in my portfolio?

With a correlation of 0.93, MWTRX and DODIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MWTRX or DODIX?

MWTRX has higher volatility (1.62%) compared to DODIX (1.43%). In terms of maximum drawdown, MWTRX dropped -20.81% vs DODIX's -16.89%.

Which has better risk-adjusted returns?

DODIX currently has the higher Sharpe Ratio (1.57 vs 1.23), 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.