TSDLX vs. DTCPX

Last updated Jun 3, 2026

TSDLX (T. Rowe Price Short Duration Income Fund) and DTCPX (DFA Targeted Credit Portfolio) are both Short-Term Bond funds. Over the past 5 years, TSDLX returned 3.42%/yr vs 1.76%/yr for DTCPX. A 0.57 correlation means they provide meaningful diversification when combined. TSDLX charges 0.40%/yr vs 0.20%/yr for DTCPX.

Performance

TSDLX vs. DTCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Short Duration Income Fund (TSDLX) and DFA Targeted Credit Portfolio (DTCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TSDLX having a 1.30% return and DTCPX slightly lower at 1.27%.

TSDLX

• 1D: -0.11%
• 1M: 0.68%
• YTD: 1.30%
• 6M: 2.34%
• 1Y: 6.84%
• 3Y*: 7.06%
• 5Y*: 3.42%
• 10Y*: —

DTCPX

• 1D: -0.21%
• 1M: 0.58%
• YTD: 1.27%
• 6M: 1.56%
• 1Y: 3.91%
• 3Y*: 5.11%
• 5Y*: 1.76%
• 10Y*: 2.12%

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

TSDLX vs. DTCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TSDLX T. Rowe Price Short Duration Income Fund	1.30%	8.12%	7.69%	6.68%	-5.69%	0.77%	0.10%
DTCPX DFA Targeted Credit Portfolio	1.27%	4.58%	5.57%	6.04%	-7.30%	-0.22%	0.18%

Correlation

The correlation between TSDLX and DTCPX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Dec 9, 2020	0.57

The correlation between TSDLX and DTCPX shifts across timeframes, from 0.37 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TSDLX vs. DTCPX — Risk / Return Rank

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

TSDLX

TSDLX Risk / Return Rank: 97
TSDLX Sharpe Ratio Rank: 96
TSDLX Sortino Ratio Rank: 98
TSDLX Omega Ratio Rank: 97
TSDLX Calmar Ratio Rank: 95
TSDLX Martin Ratio Rank: 96

DTCPX

DTCPX Risk / Return Rank: 68
DTCPX Sharpe Ratio Rank: 66
DTCPX Sortino Ratio Rank: 72
DTCPX Omega Ratio Rank: 88
DTCPX Calmar Ratio Rank: 56
DTCPX Martin Ratio Rank: 55

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.

TSDLX vs. DTCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Short Duration Income Fund (TSDLX) and DFA Targeted Credit Portfolio (DTCPX). 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.

	TSDLX	DTCPX	Difference
Sharpe ratio Return per unit of total volatility	3.44	2.38	+1.06
Sortino ratio Return per unit of downside risk	7.54	3.53	+4.01
Omega ratio Gain probability vs. loss probability	2.05	1.62	+0.43
Calmar ratio Return relative to maximum drawdown	5.90	2.88	+3.02
Martin ratio Return relative to average drawdown	25.29	11.24	+14.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSDLX vs. DTCPX - Sharpe Ratio Comparison

The current TSDLX Sharpe Ratio is 3.44, which is higher than the DTCPX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of TSDLX and DTCPX, 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

	TSDLX	DTCPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.44	2.38	+1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.48	0.75	+0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.51	1.11	+0.40

Drawdowns

TSDLX vs. DTCPX - Drawdown Comparison

The maximum TSDLX drawdown since its inception was -7.86%, smaller than the maximum DTCPX drawdown of -10.78%. Use the drawdown chart below to compare losses from any high point for TSDLX and DTCPX.

Drawdown Indicators

	TSDLX	DTCPX	Difference
Max Drawdown Largest peak-to-trough decline	-7.86%	-10.78%	+2.92%
Max Drawdown (1Y) Largest decline over 1 year	-1.26%	-1.44%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-1.26%	-1.44%	+0.18%
Max Drawdown (5Y) Largest decline over 5 years	-7.86%	-10.78%	+2.92%
Max Drawdown (10Y) Largest decline over 10 years	—	-10.78%	—
Current Drawdown Current decline from peak	-0.11%	-0.21%	+0.10%
Average Drawdown Average peak-to-trough decline	-1.68%	-1.69%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	0.37%	-0.08%

Volatility

TSDLX vs. DTCPX - Volatility Comparison

T. Rowe Price Short Duration Income Fund (TSDLX) has a higher volatility of 0.73% compared to DFA Targeted Credit Portfolio (DTCPX) at 0.69%. This indicates that TSDLX's price experiences larger fluctuations and is considered to be riskier than DTCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSDLX	DTCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	0.69%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	1.49%	1.40%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	2.06%	1.67%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.34%	2.37%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.24%	2.08%	+0.16%

TSDLX vs. DTCPX - Expense Ratio Comparison

TSDLX has a 0.40% expense ratio, which is higher than DTCPX's 0.20% expense ratio.

Dividends

TSDLX vs. DTCPX - Dividend Comparison

TSDLX's dividend yield for the trailing twelve months is around 6.75%, more than DTCPX's 4.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DTCPX DFA Targeted Credit Portfolio	4.06%	3.34%	3.64%	3.23%	1.75%	1.67%	1.27%	2.73%	3.12%	1.91%	2.18%
TSDLX T. Rowe Price Short Duration Income Fund	6.75%	6.50%	6.73%	4.78%	1.82%	1.69%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSDLX and DTCPX in my portfolio?

TSDLX and DTCPX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSDLX or DTCPX?

TSDLX has higher volatility (0.73%) compared to DTCPX (0.69%). In terms of maximum drawdown, TSDLX dropped -7.86% vs DTCPX's -10.78%.

Which has better risk-adjusted returns?

TSDLX currently has the higher Sharpe Ratio (3.44 vs 2.38), 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.