PFORX vs. DFGBX

Last updated Jun 5, 2026

PFORX (PIMCO International Bond Fund (U.S. Dollar-Hedged)) and DFGBX (DFA Five Year Global Fixed Income Portfolio) are both Global Bonds funds. Over the past 10 years, PFORX returned 2.87%/yr vs 1.27%/yr for DFGBX. At a 0.39 correlation, their price movements are largely independent. PFORX charges 0.50%/yr vs 0.23%/yr for DFGBX.

Performance

PFORX vs. DFGBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX) and DFA Five Year Global Fixed Income Portfolio (DFGBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFORX achieves a -0.18% return, which is significantly lower than DFGBX's 1.15% return. Over the past 10 years, PFORX has outperformed DFGBX with an annualized return of 2.87%, while DFGBX has yielded a comparatively lower 1.27% annualized return.

PFORX

• 1D: -0.31%
• 1M: 0.97%
• YTD: -0.18%
• 6M: 0.06%
• 1Y: 2.57%
• 3Y*: 5.27%
• 5Y*: 1.48%
• 10Y*: 2.87%

DFGBX

• 1D: -0.10%
• 1M: 0.60%
• YTD: 1.15%
• 6M: 1.33%
• 1Y: 2.38%
• 3Y*: 4.19%
• 5Y*: 1.20%
• 10Y*: 1.27%

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

PFORX vs. DFGBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged)	-0.18%	4.33%	5.70%	9.52%	-10.33%	-1.67%	6.17%	7.64%	2.64%	3.52%
DFGBX DFA Five Year Global Fixed Income Portfolio	1.15%	3.13%	5.37%	5.00%	-6.63%	-1.03%	1.52%	4.04%	1.68%	0.88%

Correlation

The correlation between PFORX and DFGBX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Dec 3, 1992	0.39

Over the past year, PFORX and DFGBX have become more correlated (0.65) than their long-term average of 0.39, meaning their price movements have been converging.

Return for Risk

PFORX vs. DFGBX — Risk / Return Rank

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

PFORX

PFORX Risk / Return Rank: 8
PFORX Sharpe Ratio Rank: 9
PFORX Sortino Ratio Rank: 8
PFORX Omega Ratio Rank: 9
PFORX Calmar Ratio Rank: 7
PFORX Martin Ratio Rank: 7

DFGBX

DFGBX Risk / Return Rank: 25
DFGBX Sharpe Ratio Rank: 20
DFGBX Sortino Ratio Rank: 15
DFGBX Omega Ratio Rank: 47
DFGBX Calmar Ratio Rank: 23
DFGBX Martin Ratio Rank: 18

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.

PFORX vs. DFGBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX) and DFA Five Year Global Fixed Income Portfolio (DFGBX). 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.

	PFORX	DFGBX	Difference
Sharpe ratio: Return per unit of total volatility	0.68	1.28	-0.60
Sortino ratio: Return per unit of downside risk	1.03	1.61	-0.57
Omega ratio: Gain probability vs. loss probability	1.14	1.37	-0.24
Calmar ratio: Return relative to maximum drawdown	0.65	1.75	-1.10
Martin ratio: Return relative to average drawdown	1.98	4.74	-2.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFORX vs. DFGBX - Sharpe Ratio Comparison

The current PFORX Sharpe Ratio is 0.68, which is lower than the DFGBX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of PFORX and DFGBX, 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

	PFORX	DFGBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	1.28	-0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.55	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	0.66	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	0.74	+0.52

Drawdowns

PFORX vs. DFGBX - Drawdown Comparison

The maximum PFORX drawdown since its inception was -13.87%, which is greater than DFGBX's maximum drawdown of -9.63%. Use the drawdown chart below to compare losses from any high point for PFORX and DFGBX.

Drawdown Indicators

	PFORX	DFGBX	Difference
Max Drawdown Largest peak-to-trough decline	-13.87%	-9.63%	-4.24%
Max Drawdown (1Y) Largest decline over 1 year	-3.99%	-1.38%	-2.61%
Max Drawdown (3Y) Largest decline over 3 years	-3.99%	-1.67%	-2.32%
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	-9.63%	-4.08%
Max Drawdown (10Y) Largest decline over 10 years	-13.87%	-9.63%	-4.24%
Current Drawdown Current decline from peak	-1.67%	-0.20%	-1.47%
Average Drawdown Average peak-to-trough decline	-1.95%	-0.93%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	0.50%	+0.80%

Volatility

PFORX vs. DFGBX - Volatility Comparison

PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX) has a higher volatility of 1.49% compared to DFA Five Year Global Fixed Income Portfolio (DFGBX) at 0.58%. This indicates that PFORX's price experiences larger fluctuations and is considered to be riskier than DFGBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFORX	DFGBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	0.58%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	3.38%	1.31%	+2.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.80%	1.88%	+1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.62%	2.20%	+1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.16%	1.93%	+1.23%

PFORX vs. DFGBX - Expense Ratio Comparison

PFORX has a 0.50% expense ratio, which is higher than DFGBX's 0.23% expense ratio.

Dividends

PFORX vs. DFGBX - Dividend Comparison

PFORX's dividend yield for the trailing twelve months is around 4.12%, more than DFGBX's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGBX DFA Five Year Global Fixed Income Portfolio	3.43%	2.91%	4.69%	3.61%	1.63%	0.73%	0.03%	2.30%	4.74%	0.89%	1.16%	1.72%
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged)	4.12%	4.23%	4.91%	3.02%	3.65%	1.55%	2.46%	6.86%	2.90%	1.46%	1.38%	9.12%

Frequently Asked Questions

Can I hold both PFORX and DFGBX in my portfolio?

PFORX and DFGBX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFORX or DFGBX?

PFORX has higher volatility (1.49%) compared to DFGBX (0.58%). In terms of maximum drawdown, PFORX dropped -13.87% vs DFGBX's -9.63%.

Which has better risk-adjusted returns?

DFGBX currently has the higher Sharpe Ratio (1.28 vs 0.68), 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.