RFBAX vs. SLASX
RFBAX (Davis Government Bond Fund) and SLASX (Selected American Shares Fund) are both mutual funds - RFBAX is a Government Bonds fund managed by Davis, while SLASX is a Large Cap Blend Equities fund managed by Davis. Over the past 10 years, RFBAX returned 1.09%/yr vs 13.32%/yr for SLASX. Their -0.06 correlation means they have often moved in opposite directions in the past. RFBAX charges 1.00%/yr vs 0.98%/yr for SLASX.
Performance
RFBAX vs. SLASX - Performance Comparison
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Returns By Period
In the year-to-date period, RFBAX achieves a 1.14% return, which is significantly lower than SLASX's 13.18% return. Over the past 10 years, RFBAX has underperformed SLASX with an annualized return of 1.09%, while SLASX has yielded a comparatively higher 13.32% annualized return.
RFBAX
- 1D
- 0.19%
- 1M
- 0.00%
- 6M
- 0.88%
- YTD
- 1.14%
- 1Y
- 2.81%
- 3Y*
- 3.91%
- 5Y*
- 1.34%
- 10Y*
- 1.09%
- ALL TIME*
- 2.62%
SLASX
- 1D
- 0.27%
- 1M
- 1.40%
- 6M
- 9.20%
- YTD
- 13.18%
- 1Y
- 32.39%
- 3Y*
- 20.84%
- 5Y*
- 11.97%
- 10Y*
- 13.32%
- ALL TIME*
- 10.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RFBAX vs. SLASX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RFBAX Davis Government Bond Fund | 1.14% | 4.49% | 4.33% | 3.63% | -5.29% | -1.48% | 1.69% | 3.23% | 0.42% | 0.21% |
SLASX Selected American Shares Fund | 13.18% | 26.72% | 17.60% | 32.47% | -20.33% | 17.71% | 11.61% | 31.20% | -13.96% | 21.80% |
Correlation
The correlation between RFBAX and SLASX is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1995 | -0.06 |
The correlation between RFBAX and SLASX shifts across timeframes, from -0.06 (all time) to 0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
RFBAX vs. SLASX — Risk / Return Rank
RFBAX
SLASX
RFBAX vs. SLASX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Davis Government Bond Fund (RFBAX) and Selected American Shares Fund (SLASX). 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 | SLASX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.39 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.27 | 3.58 | +0.69 |
| Martin ratioReturn relative to average drawdown | 15.95 | 14.25 | +1.70 |
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Drawdowns
RFBAX vs. SLASX - Drawdown Comparison
The maximum RFBAX drawdown since its inception was -8.03%, smaller than the maximum SLASX drawdown of -58.43%. Use the drawdown chart below to compare losses from any high point for RFBAX and SLASX.
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Drawdown Indicators
| RFBAX | SLASX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.03% | -58.43% | +50.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.77% | -8.14% | +7.37% |
Max Drawdown (3Y)Largest decline over 3 years | -0.88% | -22.14% | +21.26% |
Max Drawdown (5Y)Largest decline over 5 years | -7.50% | -31.41% | +23.91% |
Max Drawdown (10Y)Largest decline over 10 years | -8.03% | -36.59% | +28.56% |
Current DrawdownCurrent decline from peak | -0.19% | -0.66% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -8.16% | +6.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 2.05% | -1.84% |
Volatility
RFBAX vs. SLASX - Volatility Comparison
The current volatility for Davis Government Bond Fund (RFBAX) is 0.53%, while Selected American Shares Fund (SLASX) has a volatility of 3.08%. This indicates that RFBAX experiences smaller price fluctuations and is considered to be less risky than SLASX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RFBAX | SLASX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 3.08% | -2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 1.36% | 9.30% | -7.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 12.94% | -11.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.12% | 19.88% | -17.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.78% | 20.09% | -18.31% |
RFBAX vs. SLASX - Expense Ratio Comparison
RFBAX has a 1.00% expense ratio, which is higher than SLASX's 0.98% expense ratio.
Dividends
RFBAX vs. SLASX - Dividend Comparison
RFBAX's dividend yield for the trailing twelve months is around 2.78%, less than SLASX's 8.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RFBAX Davis Government Bond Fund | 2.78% | 3.01% | 3.23% | 2.15% | 0.80% | 0.57% | 0.93% | 1.67% | 1.17% | 0.59% | 0.68% | 0.75% |
SLASX Selected American Shares Fund | 8.54% | 11.56% | 20.21% | 7.72% | 7.85% | 12.55% | 2.76% | 5.06% | 18.16% | 7.01% | 14.99% | 21.13% |
Frequently Asked Questions
RFBAX and SLASX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLASX has higher volatility (3.08%) compared to RFBAX (0.53%). In terms of maximum drawdown, RFBAX dropped -8.03% vs SLASX's -58.43%.
SLASX currently has the higher Sharpe Ratio (2.25 vs 1.78), 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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