RFBAX vs. DILAX
RFBAX (Davis Government Bond Fund) and DILAX (Davis International Fund) are both mutual funds - RFBAX is a Government Bonds fund managed by Davis Funds, while DILAX is a Foreign Large Cap Equities fund managed by Davis Funds. Over the past 10 years, RFBAX returned 1.10%/yr vs 7.27%/yr for DILAX. At a correlation of -0.07, they often move in opposite directions. Both charge a 1.00% expense ratio.
Performance
RFBAX vs. DILAX - Performance Comparison
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Returns By Period
In the year-to-date period, RFBAX achieves a 1.08% return, which is significantly lower than DILAX's 1.67% return. Over the past 10 years, RFBAX has underperformed DILAX with an annualized return of 1.10%, while DILAX has yielded a comparatively higher 7.27% annualized return.
RFBAX
- 1D
- 0.19%
- 1M
- 0.45%
- YTD
- 1.08%
- 6M
- 1.34%
- 1Y
- 3.48%
- 3Y*
- 4.04%
- 5Y*
- 1.38%
- 10Y*
- 1.10%
DILAX
- 1D
- 0.29%
- 1M
- 1.07%
- YTD
- 1.67%
- 6M
- 2.34%
- 1Y
- 18.99%
- 3Y*
- 16.87%
- 5Y*
- 4.19%
- 10Y*
- 7.27%
RFBAX vs. DILAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RFBAX Davis Government Bond Fund | 1.08% | 4.49% | 4.33% | 3.63% | -5.29% | -1.48% | 1.69% | 3.23% | 0.42% | 0.21% |
DILAX Davis International Fund | 1.67% | 30.70% | 21.56% | 5.12% | -11.47% | -22.00% | 22.69% | 26.58% | -20.97% | 38.09% |
Correlation
The correlation between RFBAX and DILAX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | -0.07 |
The correlation between RFBAX and DILAX shifts across timeframes, from -0.07 (all time) to 0.07 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
RFBAX vs. DILAX — Risk / Return Rank
RFBAX
DILAX
RFBAX vs. DILAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Davis Government Bond Fund (RFBAX) and Davis International Fund (DILAX). 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.
| RFBAX | DILAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.19 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | 1.30 | +3.24 |
| Martin ratioReturn relative to average drawdown | 17.80 | 4.13 | +13.67 |
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Drawdowns
RFBAX vs. DILAX - Drawdown Comparison
The maximum RFBAX drawdown since its inception was -8.03%, smaller than the maximum DILAX drawdown of -65.42%. Use the drawdown chart below to compare losses from any high point for RFBAX and DILAX.
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Drawdown Indicators
| RFBAX | DILAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.03% | -65.42% | +57.39% |
Max Drawdown (1Y)Largest decline over 1 year | -0.77% | -14.00% | +13.23% |
Max Drawdown (3Y)Largest decline over 3 years | -0.88% | -21.52% | +20.64% |
Max Drawdown (5Y)Largest decline over 5 years | -7.50% | -45.79% | +38.29% |
Max Drawdown (10Y)Largest decline over 10 years | -8.03% | -51.66% | +43.63% |
Current DrawdownCurrent decline from peak | 0.00% | -3.95% | +3.95% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -22.16% | +20.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 4.39% | -4.19% |
Volatility
RFBAX vs. DILAX - Volatility Comparison
The current volatility for Davis Government Bond Fund (RFBAX) is 0.53%, while Davis International Fund (DILAX) has a volatility of 6.29%. This indicates that RFBAX experiences smaller price fluctuations and is considered to be less risky than DILAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RFBAX | DILAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 6.29% | -5.76% |
Volatility (6M)Calculated over the trailing 6-month period | 1.28% | 14.51% | -13.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 17.86% | -16.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.10% | 23.05% | -20.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.79% | 20.97% | -19.18% |
RFBAX vs. DILAX - Expense Ratio Comparison
Both RFBAX and DILAX have an expense ratio of 1.00%.
Dividends
RFBAX vs. DILAX - Dividend Comparison
RFBAX's dividend yield for the trailing twelve months is around 3.03%, more than DILAX's 0.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DILAX Davis International Fund | 0.80% | 0.82% | 2.22% | 1.55% | 0.00% | 1.38% | 0.00% | 3.28% | 2.47% | 0.11% | 0.17% | 3.81% |
RFBAX Davis Government Bond Fund | 3.03% | 3.01% | 3.23% | 2.15% | 0.80% | 0.57% | 0.93% | 1.67% | 1.17% | 0.59% | 0.68% | 0.75% |
Frequently Asked Questions
RFBAX and DILAX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DILAX has higher volatility (6.29%) compared to RFBAX (0.53%). In terms of maximum drawdown, RFBAX dropped -8.03% vs DILAX's -65.42%.
RFBAX currently has the higher Sharpe Ratio (1.88 vs 1.02), 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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