TRSTX vs. DFYGX
TRSTX (T. Rowe Price Ultra Short-Term Bond Fund Class I) and DFYGX (DFA Two-Year Government Portfolio) are both Ultrashort Bond funds. Over the past 5 years, TRSTX returned 3.58%/yr vs 2.03%/yr for DFYGX. At a 0.09 correlation, their price movements are largely independent. TRSTX charges 0.20%/yr vs 0.17%/yr for DFYGX.
Performance
TRSTX vs. DFYGX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TRSTX having a 1.64% return and DFYGX slightly lower at 1.59%.
TRSTX
- 1D
- 0.00%
- 1M
- 0.37%
- 6M
- 1.64%
- YTD
- 1.64%
- 1Y
- 4.29%
- 3Y*
- 5.54%
- 5Y*
- 3.58%
- 10Y*
- —
DFYGX
- 1D
- 0.00%
- 1M
- 0.07%
- 6M
- 1.48%
- YTD
- 1.59%
- 1Y
- 3.46%
- 3Y*
- 3.81%
- 5Y*
- 2.03%
- 10Y*
- 1.43%
TRSTX vs. DFYGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TRSTX T. Rowe Price Ultra Short-Term Bond Fund Class I | 1.64% | 5.34% | 6.41% | 5.89% | -1.20% | 0.29% | 3.19% | 3.65% | 1.60% |
DFYGX DFA Two-Year Government Portfolio | 1.59% | 2.16% | 5.15% | 5.00% | -3.02% | -0.51% | 0.38% | 2.20% | 1.48% |
Correlation
The correlation between TRSTX and DFYGX is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2018 | 0.09 |
The correlation between TRSTX and DFYGX shifts across timeframes, from -0.04 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TRSTX vs. DFYGX — Risk / Return Rank
TRSTX
DFYGX
TRSTX vs. DFYGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond Fund Class I (TRSTX) and DFA Two-Year Government Portfolio (DFYGX). 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.
| TRSTX | DFYGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 4.58 | 3.92 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 22.59 | 17.31 | +5.29 |
| Martin ratioReturn relative to average drawdown | 51.00 | 91.12 | -40.12 |
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Drawdowns
TRSTX vs. DFYGX - Drawdown Comparison
The maximum TRSTX drawdown since its inception was -4.34%, roughly equal to the maximum DFYGX drawdown of -4.46%. Use the drawdown chart below to compare losses from any high point for TRSTX and DFYGX.
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Drawdown Indicators
| TRSTX | DFYGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.34% | -4.46% | +0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -0.21% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -0.59% | -1.04% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -2.58% | -4.36% | +1.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -4.46% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.11% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -0.30% | -0.30% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | 0.04% | +0.05% |
Volatility
TRSTX vs. DFYGX - Volatility Comparison
T. Rowe Price Ultra Short-Term Bond Fund Class I (TRSTX) and DFA Two-Year Government Portfolio (DFYGX) have volatilities of 0.37% and 0.37%, 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.
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Volatility by Period
| TRSTX | DFYGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 0.37% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 0.64% | +0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.49% | 0.77% | +0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.65% | 1.25% | +0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.62% | 1.00% | +0.62% |
TRSTX vs. DFYGX - Expense Ratio Comparison
TRSTX has a 0.20% expense ratio, which is higher than DFYGX's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TRSTX vs. DFYGX - Dividend Comparison
TRSTX's dividend yield for the trailing twelve months is around 4.20%, more than DFYGX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFYGX DFA Two-Year Government Portfolio | 3.73% | 2.04% | 4.84% | 3.07% | 1.14% | 0.00% | 0.27% | 1.87% | 1.82% | 1.01% | 0.58% | 0.49% |
TRSTX T. Rowe Price Ultra Short-Term Bond Fund Class I | 4.20% | 4.79% | 5.19% | 3.46% | 1.61% | 1.28% | 1.94% | 2.78% | 1.98% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRSTX and DFYGX have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFYGX has higher volatility (0.37%) compared to TRSTX (0.37%). In terms of maximum drawdown, TRSTX dropped -4.34% vs DFYGX's -4.46%.
DFYGX currently has the higher Sharpe Ratio (4.71 vs 2.97), 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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