TGGBX vs. TGPCX

Last updated Apr 2, 2026

Compare and contrast key facts about TCW Global Bond Fund (TGGBX) and TCW Conservative Allocation Fund (TGPCX).

TGGBX is managed by TCW. It was launched on Nov 29, 2011. TGPCX is managed by TCW. It was launched on Nov 15, 2006.

Performance

TGGBX vs. TGPCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Global Bond Fund (TGGBX) and TCW Conservative Allocation Fund (TGPCX). The values are adjusted to include any dividend payments, if applicable.

TGGBX vs. TGPCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGGBX TCW Global Bond Fund	-1.43%	10.17%	-2.27%	7.01%	-17.09%	-4.71%	12.29%	8.36%	-1.75%	6.02%
TGPCX TCW Conservative Allocation Fund	-0.42%	9.17%	4.10%	16.54%	-15.22%	8.45%	14.24%	14.83%	-3.10%	8.83%

Returns By Period

In the year-to-date period, TGGBX achieves a -1.43% return, which is significantly lower than TGPCX's -0.42% return. Over the past 10 years, TGGBX has underperformed TGPCX with an annualized return of 1.02%, while TGPCX has yielded a comparatively higher 5.46% annualized return.

TGGBX

• 1D: 0.24%
• 1M: -2.80%
• YTD: -1.43%
• 6M: -1.31%
• 1Y: 4.43%
• 3Y*: 3.16%
• 5Y*: -1.29%
• 10Y*: 1.02%

TGPCX

• 1D: 1.11%
• 1M: -2.88%
• YTD: -0.42%
• 6M: 0.39%
• 1Y: 6.37%
• 3Y*: 8.32%
• 5Y*: 3.58%
• 10Y*: 5.46%

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

TGGBX vs. TGPCX - Expense Ratio Comparison

TGGBX has a 0.60% expense ratio, which is higher than TGPCX's 0.41% expense ratio.

TGGBX

TCW Global Bond Fund

TGPCX

TCW Conservative Allocation Fund

Return for Risk

TGGBX vs. TGPCX — Risk / Return Rank

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

TGGBX

TGGBX Risk / Return Rank: 32
TGGBX Sharpe Ratio Rank: 35
TGGBX Sortino Ratio Rank: 36
TGGBX Omega Ratio Rank: 26
TGGBX Calmar Ratio Rank: 33
TGGBX Martin Ratio Rank: 31

TGPCX

TGPCX Risk / Return Rank: 48
TGPCX Sharpe Ratio Rank: 48
TGPCX Sortino Ratio Rank: 46
TGPCX Omega Ratio Rank: 41
TGPCX Calmar Ratio Rank: 55
TGPCX Martin Ratio Rank: 52

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. TGPCX - Risk-Adjusted Trends Comparison

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

	TGGBX	TGPCX	Difference
Sharpe ratio Return per unit of total volatility	0.89	1.05	-0.16
Sortino ratio Return per unit of downside risk	1.33	1.50	-0.16
Omega ratio Gain probability vs. loss probability	1.16	1.21	-0.04
Calmar ratio Return relative to maximum drawdown	1.15	1.57	-0.41
Martin ratio Return relative to average drawdown	4.11	5.91	-1.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGGBX vs. TGPCX - Sharpe Ratio Comparison

The current TGGBX Sharpe Ratio is 0.89, which is comparable to the TGPCX Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of TGGBX and TGPCX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TGGBX	TGPCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	1.05	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.19	0.46	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.72	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.68	-0.40

Correlation

The correlation between TGGBX and TGPCX is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TGGBX vs. TGPCX - Dividend Comparison

TGGBX's dividend yield for the trailing twelve months is around 3.96%, less than TGPCX's 4.60% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TGGBX TCW Global Bond Fund	3.96%	4.12%	2.99%	3.65%	1.97%	1.93%	3.70%	4.18%	0.50%	1.88%	2.91%	2.25%
TGPCX TCW Conservative Allocation Fund	4.60%	4.58%	7.42%	3.00%	4.86%	9.89%	1.47%	7.04%	6.71%	4.24%	6.84%	3.94%

Drawdowns

TGGBX vs. TGPCX - Drawdown Comparison

The maximum TGGBX drawdown since its inception was -27.37%, which is greater than TGPCX's maximum drawdown of -21.03%. Use the drawdown chart below to compare losses from any high point for TGGBX and TGPCX.

Drawdown Indicators

	TGGBX	TGPCX	Difference
Max Drawdown Largest peak-to-trough decline	-27.37%	-21.03%	-6.34%
Max Drawdown (1Y) Largest decline over 1 year	-4.16%	-4.48%	+0.32%
Max Drawdown (5Y) Largest decline over 5 years	-26.20%	-20.27%	-5.93%
Max Drawdown (10Y) Largest decline over 10 years	-27.37%	-20.27%	-7.10%
Current Drawdown Current decline from peak	-10.44%	-3.28%	-7.16%
Average Drawdown Average peak-to-trough decline	-6.44%	-3.16%	-3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	1.19%	-0.02%

Volatility

TGGBX vs. TGPCX - Volatility Comparison

The current volatility for TCW Global Bond Fund (TGGBX) is 2.10%, while TCW Conservative Allocation Fund (TGPCX) has a volatility of 2.67%. This indicates that TGGBX experiences smaller price fluctuations and is considered to be less risky than TGPCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGGBX	TGPCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	2.67%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	3.26%	4.01%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	5.41%	6.54%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.71%	7.90%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.75%	7.65%	-1.90%