RWK vs. DODLX

Last updated Jul 21, 2026

RWK (Invesco S&P MidCap 400 Revenue ETF) and DODLX (Dodge & Cox Global Bond Fund Class I) are both funds - RWK is a Small Cap Blend Equities fund tracking the S&P MidCap 400 Revenue-Weighted Index, while DODLX is a Global Bonds fund managed by Dodge & Cox. Over the past 10 years, RWK returned 12.69%/yr vs 4.57%/yr for DODLX. At a 0.32 correlation, their price movements are largely independent. RWK charges 0.39%/yr vs 0.45%/yr for DODLX.

Performance

RWK vs. DODLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400 Revenue ETF (RWK) and Dodge & Cox Global Bond Fund Class I (DODLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWK achieves a 16.44% return, which is significantly higher than DODLX's 0.97% return. Over the past 10 years, RWK has outperformed DODLX with an annualized return of 12.69%, while DODLX has yielded a comparatively lower 4.57% annualized return.

RWK

• 1D: -0.93%
• 1M: 1.82%
• 6M: 10.32%
• YTD: 16.44%
• 1Y: 22.46%
• 3Y*: 15.35%
• 5Y*: 12.20%
• 10Y*: 12.69%
• ALL TIME*: 11.47%

DODLX

• 1D: -0.09%
• 1M: -0.25%
• 6M: 0.71%
• YTD: 0.97%
• 1Y: 5.51%
• 3Y*: 6.02%
• 5Y*: 2.93%
• 10Y*: 4.57%
• ALL TIME*: 3.58%

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

RWK vs. DODLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWK Invesco S&P MidCap 400 Revenue ETF	16.44%	10.27%	11.94%	23.76%	-8.19%	34.31%	11.06%	28.20%	-14.65%	13.39%
DODLX Dodge & Cox Global Bond Fund Class I	0.97%	11.51%	0.55%	12.30%	-8.21%	-0.85%	11.87%	12.23%	-1.45%	8.31%

Correlation

The correlation between RWK and DODLX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since May 1, 2014	0.32

The correlation between RWK and DODLX shifts across timeframes, from 0.31 (10 years) to 0.44 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RWK vs. DODLX — Risk / Return Rank

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

RWK

RWK Risk / Return Rank: 54
RWK Sharpe Ratio Rank: 53
RWK Sortino Ratio Rank: 59
RWK Omega Ratio Rank: 51
RWK Calmar Ratio Rank: 53
RWK Martin Ratio Rank: 52

DODLX

DODLX Risk / Return Rank: 30
DODLX Sharpe Ratio Rank: 33
DODLX Sortino Ratio Rank: 33
DODLX Omega Ratio Rank: 33
DODLX Calmar Ratio Rank: 26
DODLX Martin Ratio Rank: 24

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.

RWK vs. DODLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 Revenue ETF (RWK) and Dodge & Cox Global Bond Fund Class I (DODLX). 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.

	RWK	DODLX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.31	+0.07
Sortino ratio: Return per unit of downside risk	2.12	1.89	+0.23
Omega ratio: Gain probability vs. loss probability	1.24	1.24	0.00
Calmar ratio: Return relative to maximum drawdown	2.03	1.54	+0.49
Martin ratio: Return relative to average drawdown	6.54	4.44	+2.09

RWK vs. DODLX - Sharpe Ratio Comparison

The current RWK Sharpe Ratio is 1.37, which is comparable to the DODLX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of RWK and DODLX, 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

RWK vs. DODLX - Drawdown Comparison

The maximum RWK drawdown since its inception was -56.49%, which is greater than DODLX's maximum drawdown of -16.30%. Use the drawdown chart below to compare losses from any high point for RWK and DODLX.

Drawdown Indicators

	RWK	DODLX	Difference
Max Drawdown Largest peak-to-trough decline	-56.49%	-16.30%	-40.19%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-3.67%	-7.47%
Max Drawdown (3Y) Largest decline over 3 years	-24.58%	-6.21%	-18.37%
Max Drawdown (5Y) Largest decline over 5 years	-24.58%	-16.30%	-8.28%
Max Drawdown (10Y) Largest decline over 10 years	-46.20%	-16.30%	-29.90%
Current Drawdown Current decline from peak	-1.68%	-1.73%	+0.05%
Average Drawdown Average peak-to-trough decline	-7.51%	-3.03%	-4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	1.26%	+2.19%

Volatility

RWK vs. DODLX - Volatility Comparison

Invesco S&P MidCap 400 Revenue ETF (RWK) has a higher volatility of 3.12% compared to Dodge & Cox Global Bond Fund Class I (DODLX) at 1.06%. This indicates that RWK's price experiences larger fluctuations and is considered to be riskier than DODLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWK	DODLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	1.06%	+2.06%
Volatility (6M) Calculated over the trailing 6-month period	11.96%	3.57%	+8.39%
Volatility (1Y) Calculated over the trailing 1-year period	16.49%	4.31%	+12.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.94%	5.28%	+15.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.88%	4.81%	+18.07%

RWK vs. DODLX - Expense Ratio Comparison

RWK has a 0.39% expense ratio, which is lower than DODLX's 0.45% expense ratio.

Dividends

RWK vs. DODLX - Dividend Comparison

RWK's dividend yield for the trailing twelve months is around 1.02%, less than DODLX's 4.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DODLX Dodge & Cox Global Bond Fund Class I	4.14%	4.07%	4.73%	3.31%	5.05%	3.86%	2.66%	3.40%	5.19%	2.45%	1.69%	0.00%
RWK Invesco S&P MidCap 400 Revenue ETF	1.02%	1.25%	1.11%	1.05%	1.18%	0.85%	0.96%	1.09%	1.22%	0.99%	1.30%	0.92%

Frequently Asked Questions

Can I hold both RWK and DODLX in my portfolio?

RWK and DODLX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWK or DODLX?

RWK has higher volatility (3.12%) compared to DODLX (1.06%). In terms of maximum drawdown, RWK dropped -56.49% vs DODLX's -16.30%.

Which has better risk-adjusted returns?

RWK currently has the higher Sharpe Ratio (1.37 vs 1.31), 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.