TGGBX vs. DFGBX

Last updated Jun 18, 2026

TGGBX (TCW Global Bond Fund) and DFGBX (DFA Five Year Global Fixed Income Portfolio) are both Global Bonds funds. Over the past 10 years, TGGBX returned 1.04%/yr vs 1.28%/yr for DFGBX. At a 0.46 correlation, their price movements are largely independent. TGGBX charges 0.60%/yr vs 0.23%/yr for DFGBX.

Performance

TGGBX vs. DFGBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Global Bond Fund (TGGBX) 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, TGGBX achieves a 0.35% return, which is significantly lower than DFGBX's 1.55% return. Over the past 10 years, TGGBX has underperformed DFGBX with an annualized return of 1.04%, while DFGBX has yielded a comparatively higher 1.28% annualized return.

TGGBX

• 1D: 0.12%
• 1M: 1.44%
• YTD: 0.35%
• 6M: 0.70%
• 1Y: 2.84%
• 3Y*: 4.25%
• 5Y*: -1.30%
• 10Y*: 1.04%

DFGBX

• 1D: 0.00%
• 1M: 1.00%
• YTD: 1.55%
• 6M: 1.75%
• 1Y: 2.58%
• 3Y*: 4.33%
• 5Y*: 1.36%
• 10Y*: 1.28%

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

TGGBX vs. DFGBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGGBX TCW Global Bond Fund	0.35%	10.17%	-2.27%	7.01%	-17.09%	-4.71%	12.29%	8.36%	-1.75%	6.02%
DFGBX DFA Five Year Global Fixed Income Portfolio	1.55%	3.13%	5.37%	5.00%	-6.63%	-1.03%	1.52%	4.04%	1.68%	0.88%

Correlation

The correlation between TGGBX and DFGBX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	0.46

The correlation between TGGBX and DFGBX shifts across timeframes, from 0.26 (3 years) to 0.60 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TGGBX vs. DFGBX — Risk / Return Rank

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

TGGBX

TGGBX Risk / Return Rank: 7
TGGBX Sharpe Ratio Rank: 7
TGGBX Sortino Ratio Rank: 6
TGGBX Omega Ratio Rank: 6
TGGBX Calmar Ratio Rank: 7
TGGBX Martin Ratio Rank: 7

DFGBX

DFGBX Risk / Return Rank: 33
DFGBX Sharpe Ratio Rank: 27
DFGBX Sortino Ratio Rank: 20
DFGBX Omega Ratio Rank: 65
DFGBX Calmar Ratio Rank: 30
DFGBX 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.

TGGBX vs. DFGBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Global Bond Fund (TGGBX) 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.

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.

	TGGBX	DFGBX	Difference
Sharpe ratio: Return per unit of total volatility	0.51	1.43	-0.92
Sortino ratio: Return per unit of downside risk	0.80	1.80	-1.01
Omega ratio: Gain probability vs. loss probability	1.09	1.41	-0.32
Calmar ratio: Return relative to maximum drawdown	0.63	1.97	-1.34
Martin ratio: Return relative to average drawdown	1.66	5.34	-3.68

TGGBX vs. DFGBX - Sharpe Ratio Comparison

The current TGGBX Sharpe Ratio is 0.51, which is lower than the DFGBX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of TGGBX 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.

Drawdowns

TGGBX vs. DFGBX - Drawdown Comparison

The maximum TGGBX drawdown since its inception was -27.37%, which is greater than DFGBX's maximum drawdown of -9.63%. Use the drawdown chart below to compare losses from any high point for TGGBX and DFGBX.

Drawdown Indicators

	TGGBX	DFGBX	Difference
Max Drawdown Largest peak-to-trough decline	-27.37%	-9.63%	-17.74%
Max Drawdown (1Y) Largest decline over 1 year	-4.16%	-1.38%	-2.78%
Max Drawdown (3Y) Largest decline over 3 years	-8.55%	-1.67%	-6.88%
Max Drawdown (5Y) Largest decline over 5 years	-26.20%	-9.63%	-16.57%
Max Drawdown (10Y) Largest decline over 10 years	-27.37%	-9.63%	-17.74%
Current Drawdown Current decline from peak	-8.82%	0.00%	-8.82%
Average Drawdown Average peak-to-trough decline	-6.48%	-0.93%	-5.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	0.50%	+1.07%

Volatility

TGGBX vs. DFGBX - Volatility Comparison

TCW Global Bond Fund (TGGBX) has a higher volatility of 1.54% compared to DFA Five Year Global Fixed Income Portfolio (DFGBX) at 0.47%. This indicates that TGGBX'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

	TGGBX	DFGBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	0.47%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	4.10%	1.32%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	5.13%	1.90%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	2.19%	+4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.80%	1.93%	+3.87%

TGGBX vs. DFGBX - Expense Ratio Comparison

TGGBX has a 0.60% expense ratio, which is higher than DFGBX's 0.23% expense ratio.

Dividends

TGGBX vs. DFGBX - Dividend Comparison

TGGBX's dividend yield for the trailing twelve months is around 4.16%, more than DFGBX's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGBX DFA Five Year Global Fixed Income Portfolio	3.42%	2.91%	4.69%	3.61%	1.63%	0.73%	0.03%	2.30%	4.74%	0.89%	1.16%	1.72%
TGGBX TCW Global Bond Fund	4.16%	4.12%	2.99%	3.65%	1.97%	1.93%	3.70%	4.18%	0.50%	1.88%	2.91%	2.25%

Frequently Asked Questions

Can I hold both TGGBX and DFGBX in my portfolio?

TGGBX and DFGBX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGGBX or DFGBX?

TGGBX has higher volatility (1.54%) compared to DFGBX (0.47%). In terms of maximum drawdown, TGGBX dropped -27.37% vs DFGBX's -9.63%.

Which has better risk-adjusted returns?

DFGBX currently has the higher Sharpe Ratio (1.43 vs 0.51), 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.