PGGIX vs. DGCFX

Last updated Jul 2, 2026

PGGIX (Putnam Global Income Trust) and DGCFX (DFA Global Core Plus Fixed Income Portfolio) are both Global Bonds funds. Over the past 5 years, PGGIX returned -1.63%/yr vs 0.66%/yr for DGCFX. Their correlation of 0.81 suggests significant overlap in exposure. PGGIX charges 0.91%/yr vs 0.25%/yr for DGCFX.

Performance

PGGIX vs. DGCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Global Income Trust (PGGIX) 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, PGGIX achieves a 0.33% return, which is significantly lower than DGCFX's 1.99% return.

PGGIX

• 1D: -0.20%
• 1M: 0.25%
• YTD: 0.33%
• 6M: 0.33%
• 1Y: 1.66%
• 3Y*: 3.59%
• 5Y*: -1.63%
• 10Y*: 0.53%

DGCFX

• 1D: -0.11%
• 1M: 0.86%
• YTD: 1.99%
• 6M: 1.99%
• 1Y: 4.36%
• 3Y*: 6.06%
• 5Y*: 0.66%
• 10Y*: —

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

PGGIX vs. DGCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PGGIX Putnam Global Income Trust	0.33%	6.27%	-0.26%	5.27%	-15.05%	-6.38%	5.93%	9.35%	-3.63%
DGCFX DFA Global Core Plus Fixed Income Portfolio	1.99%	6.12%	3.57%	10.01%	-15.88%	-2.04%	8.51%	11.55%	1.13%

Correlation

The correlation between PGGIX and DGCFX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018	0.81

The correlation between PGGIX and DGCFX has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

Return for Risk

PGGIX vs. DGCFX — Risk / Return Rank

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

PGGIX

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

DGCFX

DGCFX Risk / Return Rank: 27
DGCFX Sharpe Ratio Rank: 30
DGCFX Sortino Ratio Rank: 30
DGCFX Omega Ratio Rank: 31
DGCFX Calmar Ratio Rank: 22
DGCFX Martin Ratio Rank: 23

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.

PGGIX vs. DGCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Global Income Trust (PGGIX) 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.

	PGGIX	DGCFX	Difference
Sharpe ratio: Return per unit of total volatility	0.50	1.28	-0.77
Sortino ratio: Return per unit of downside risk	0.74	1.88	-1.14
Omega ratio: Gain probability vs. loss probability	1.09	1.24	-0.15
Calmar ratio: Return relative to maximum drawdown	0.56	1.41	-0.85
Martin ratio: Return relative to average drawdown	1.56	4.51	-2.94

PGGIX vs. DGCFX - Sharpe Ratio Comparison

The current PGGIX Sharpe Ratio is 0.50, which is lower than the DGCFX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of PGGIX 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

PGGIX vs. DGCFX - Drawdown Comparison

The maximum PGGIX drawdown since its inception was -26.81%, which is greater than DGCFX's maximum drawdown of -21.77%. Use the drawdown chart below to compare losses from any high point for PGGIX and DGCFX.

Drawdown Indicators

	PGGIX	DGCFX	Difference
Max Drawdown Largest peak-to-trough decline	-26.81%	-21.77%	-5.04%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	-3.19%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-5.60%	-4.20%	-1.40%
Max Drawdown (5Y) Largest decline over 5 years	-23.33%	-21.77%	-1.56%
Max Drawdown (10Y) Largest decline over 10 years	-25.24%	—	—
Current Drawdown Current decline from peak	-11.11%	-0.11%	-11.00%
Average Drawdown Average peak-to-trough decline	-4.51%	-5.33%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	1.00%	+0.13%

Volatility

PGGIX vs. DGCFX - Volatility Comparison

Putnam Global Income Trust (PGGIX) and DFA Global Core Plus Fixed Income Portfolio (DGCFX) have volatilities of 0.97% and 0.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGGIX	DGCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	0.95%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	2.88%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	3.54%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.16%	5.47%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.54%	4.91%	-0.37%

PGGIX vs. DGCFX - Expense Ratio Comparison

PGGIX has a 0.91% expense ratio, which is higher than DGCFX's 0.25% expense ratio.

Dividends

PGGIX vs. DGCFX - Dividend Comparison

PGGIX's dividend yield for the trailing twelve months is around 3.26%, less 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%
PGGIX Putnam Global Income Trust	3.26%	3.86%	2.79%	2.17%	2.06%	1.72%	1.65%	2.04%	2.42%	3.17%	3.29%	2.44%

Frequently Asked Questions

Can I hold both PGGIX and DGCFX in my portfolio?

PGGIX and DGCFX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGGIX or DGCFX?

PGGIX has higher volatility (0.97%) compared to DGCFX (0.95%). In terms of maximum drawdown, PGGIX dropped -26.81% vs DGCFX's -21.77%.

Which has better risk-adjusted returns?

DGCFX currently has the higher Sharpe Ratio (1.28 vs 0.50), 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.