TGVIX vs. DODFX
TGVIX (Thornburg International Equity I) and DODFX (Dodge & Cox International Stock Fund) are both Foreign Large Cap Equities funds. Both are actively managed. Over the past 10 years, TGVIX returned 11.32%/yr vs 11.56%/yr for DODFX. Their correlation of 0.84 suggests significant overlap in exposure. TGVIX charges 0.90%/yr vs 0.61%/yr for DODFX.
Performance
TGVIX vs. DODFX - Performance Comparison
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Returns By Period
In the year-to-date period, TGVIX achieves a 9.04% return, which is significantly lower than DODFX's 11.85% return. Both investments have delivered pretty close results over the past 10 years, with TGVIX having a 11.32% annualized return and DODFX not far ahead at 11.56%.
TGVIX
- 1D
- -1.47%
- 1M
- -1.00%
- YTD
- 9.04%
- 6M
- 9.00%
- 1Y
- 22.26%
- 3Y*
- 20.01%
- 5Y*
- 9.11%
- 10Y*
- 11.32%
DODFX
- 1D
- -1.81%
- 1M
- 1.49%
- YTD
- 11.85%
- 6M
- 11.85%
- 1Y
- 28.31%
- 3Y*
- 20.12%
- 5Y*
- 11.37%
- 10Y*
- 11.56%
TGVIX vs. DODFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TGVIX Thornburg International Equity I | 9.04% | 34.20% | 11.60% | 16.01% | -16.74% | 7.59% | 22.64% | 29.09% | -19.85% | 25.52% |
DODFX Dodge & Cox International Stock Fund | 11.85% | 38.77% | 3.74% | 16.70% | -6.78% | 10.99% | 5.15% | 22.79% | -18.01% | 23.95% |
Correlation
The correlation between TGVIX and DODFX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2001 | 0.84 |
The correlation between TGVIX and DODFX has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.
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Return for Risk
TGVIX vs. DODFX — Risk / Return Rank
TGVIX
DODFX
TGVIX vs. DODFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg International Equity I (TGVIX) and Dodge & Cox International Stock Fund (DODFX). 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.
| TGVIX | DODFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.41 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.73 | -0.42 |
| Martin ratioReturn relative to average drawdown | 8.10 | 10.36 | -2.25 |
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Drawdowns
TGVIX vs. DODFX - Drawdown Comparison
The maximum TGVIX drawdown since its inception was -56.19%, smaller than the maximum DODFX drawdown of -63.23%. Use the drawdown chart below to compare losses from any high point for TGVIX and DODFX.
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Drawdown Indicators
| TGVIX | DODFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.19% | -63.23% | +7.04% |
Max Drawdown (1Y)Largest decline over 1 year | -10.32% | -11.14% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -12.03% | -14.41% | +2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -39.46% | -24.52% | -14.94% |
Max Drawdown (10Y)Largest decline over 10 years | -39.46% | -44.61% | +5.15% |
Current DrawdownCurrent decline from peak | -2.90% | -1.81% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -12.08% | -11.63% | -0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 2.93% | +0.01% |
Volatility
TGVIX vs. DODFX - Volatility Comparison
The current volatility for Thornburg International Equity I (TGVIX) is 3.96%, while Dodge & Cox International Stock Fund (DODFX) has a volatility of 5.73%. This indicates that TGVIX experiences smaller price fluctuations and is considered to be less risky than DODFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TGVIX | DODFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.96% | 5.73% | -1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 10.52% | 12.07% | -1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.72% | 13.92% | -1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.55% | 16.03% | +0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.51% | 17.94% | -1.43% |
TGVIX vs. DODFX - Expense Ratio Comparison
TGVIX has a 0.90% expense ratio, which is higher than DODFX's 0.61% expense ratio.
Dividends
TGVIX vs. DODFX - Dividend Comparison
TGVIX's dividend yield for the trailing twelve months is around 3.36%, less than DODFX's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODFX Dodge & Cox International Stock Fund | 4.52% | 5.05% | 2.25% | 2.29% | 2.23% | 2.49% | 4.21% | 3.93% | 2.93% | 1.93% | 3.66% | 2.30% |
TGVIX Thornburg International Equity I | 3.36% | 3.67% | 6.91% | 2.37% | 2.01% | 14.20% | 3.11% | 6.36% | 1.76% | 17.06% | 1.90% | 18.62% |
Frequently Asked Questions
TGVIX and DODFX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DODFX has higher volatility (5.73%) compared to TGVIX (3.96%). In terms of maximum drawdown, TGVIX dropped -56.19% vs DODFX's -63.23%.
DODFX currently has the higher Sharpe Ratio (2.18 vs 1.88), 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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