TGLMX vs. TGCFX

Last updated Jun 4, 2026

TGLMX (TCW Total Return Bond Fund) and TGCFX (TCW Core Fixed Income Fund) are both mutual funds - TGLMX is a Intermediate Core-Plus Bond fund managed by TCW, while TGCFX is a Intermediate Core Bond fund managed by TCW. Over the past 10 years, TGLMX returned 1.53%/yr vs 1.60%/yr for TGCFX. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.49% expense ratio.

Performance

TGLMX vs. TGCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Total Return Bond Fund (TGLMX) and TCW Core Fixed Income Fund (TGCFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGLMX achieves a 1.25% return, which is significantly higher than TGCFX's 0.15% return. Both investments have delivered pretty close results over the past 10 years, with TGLMX having a 1.53% annualized return and TGCFX not far ahead at 1.60%.

TGLMX

• 1D: 0.00%
• 1M: 0.39%
• YTD: 1.25%
• 6M: 1.15%
• 1Y: 7.29%
• 3Y*: 4.76%
• 5Y*: -0.09%
• 10Y*: 1.53%

TGCFX

• 1D: 0.00%
• 1M: 0.36%
• YTD: 0.15%
• 6M: -0.00%
• 1Y: 5.26%
• 3Y*: 3.78%
• 5Y*: -0.21%
• 10Y*: 1.60%

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

TGLMX vs. TGCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGLMX TCW Total Return Bond Fund	1.25%	8.99%	1.82%	5.05%	-16.59%	-1.05%	8.32%	7.28%	0.80%	3.44%
TGCFX TCW Core Fixed Income Fund	0.15%	7.51%	0.75%	5.61%	-14.25%	-1.27%	8.79%	8.75%	0.09%	3.23%

Correlation

The correlation between TGLMX and TGCFX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 4, 1994	0.84

The correlation between TGLMX and TGCFX shifts across timeframes, from 0.84 (all time) to 0.98 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

TGLMX vs. TGCFX — Risk / Return Rank

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

TGLMX

TGLMX Risk / Return Rank: 38
TGLMX Sharpe Ratio Rank: 33
TGLMX Sortino Ratio Rank: 36
TGLMX Omega Ratio Rank: 35
TGLMX Calmar Ratio Rank: 51
TGLMX Martin Ratio Rank: 38

TGCFX

TGCFX Risk / Return Rank: 19
TGCFX Sharpe Ratio Rank: 19
TGCFX Sortino Ratio Rank: 20
TGCFX Omega Ratio Rank: 18
TGCFX Calmar Ratio Rank: 20
TGCFX Martin Ratio Rank: 19

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.

TGLMX vs. TGCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Total Return Bond Fund (TGLMX) and TCW Core Fixed Income Fund (TGCFX). 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.

	TGLMX	TGCFX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.24	+0.40
Sortino ratio: Return per unit of downside risk	2.48	1.85	+0.63
Omega ratio: Gain probability vs. loss probability	1.31	1.22	+0.09
Calmar ratio: Return relative to maximum drawdown	2.74	1.64	+1.09
Martin ratio: Return relative to average drawdown	8.29	5.04	+3.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGLMX vs. TGCFX - Sharpe Ratio Comparison

The current TGLMX Sharpe Ratio is 1.64, which is higher than the TGCFX Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of TGLMX and TGCFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TGLMX	TGCFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	1.24	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	-0.03	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.31	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.34	+0.07

Drawdowns

TGLMX vs. TGCFX - Drawdown Comparison

The maximum TGLMX drawdown since its inception was -22.26%, which is greater than TGCFX's maximum drawdown of -19.37%. Use the drawdown chart below to compare losses from any high point for TGLMX and TGCFX.

Drawdown Indicators

	TGLMX	TGCFX	Difference
Max Drawdown Largest peak-to-trough decline	-22.26%	-19.37%	-2.89%
Max Drawdown (1Y) Largest decline over 1 year	-2.63%	-3.15%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-8.56%	-7.12%	-1.44%
Max Drawdown (5Y) Largest decline over 5 years	-22.17%	-19.37%	-2.80%
Max Drawdown (10Y) Largest decline over 10 years	-22.26%	-19.37%	-2.89%
Current Drawdown Current decline from peak	-2.72%	-3.06%	+0.34%
Average Drawdown Average peak-to-trough decline	-3.80%	-3.61%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	1.02%	-0.16%

Volatility

TGLMX vs. TGCFX - Volatility Comparison

TCW Total Return Bond Fund (TGLMX) and TCW Core Fixed Income Fund (TGCFX) have volatilities of 1.44% and 1.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGLMX	TGCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	1.45%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	3.00%	2.94%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.39%	4.17%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.05%	6.55%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.59%	5.21%	+0.38%

TGLMX vs. TGCFX - Expense Ratio Comparison

Both TGLMX and TGCFX have an expense ratio of 0.49%.

Dividends

TGLMX vs. TGCFX - Dividend Comparison

TGLMX's dividend yield for the trailing twelve months is around 6.74%, more than TGCFX's 4.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TGCFX TCW Core Fixed Income Fund	4.45%	4.51%	4.34%	3.66%	2.22%	1.56%	4.14%	2.63%	2.57%	2.17%	2.95%	2.59%
TGLMX TCW Total Return Bond Fund	6.74%	7.19%	6.52%	6.13%	3.27%	2.08%	3.37%	4.07%	3.55%	2.89%	4.13%	2.88%

Frequently Asked Questions

Can I hold both TGLMX and TGCFX in my portfolio?

With a correlation of 0.96, TGLMX and TGCFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TGLMX or TGCFX?

TGCFX has higher volatility (1.45%) compared to TGLMX (1.44%). In terms of maximum drawdown, TGLMX dropped -22.26% vs TGCFX's -19.37%.

Which has better risk-adjusted returns?

TGLMX currently has the higher Sharpe Ratio (1.64 vs 1.24), 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.