VBIRX vs. DFGFX
VBIRX (Vanguard Short-Term Bond Index Fund Admiral Shares) and DFGFX (DFA Two Year Global Fixed Income Portfolio) are both mutual funds - VBIRX is a Total Bond Market fund managed by Vanguard, while DFGFX is a Global Bonds fund managed by Dimensional. Over the past 10 years, VBIRX returned 1.91%/yr vs 1.81%/yr for DFGFX. At a 0.42 correlation, their price movements are largely independent. VBIRX charges 0.07%/yr vs 0.16%/yr for DFGFX.
Performance
VBIRX vs. DFGFX - Performance Comparison
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Returns By Period
In the year-to-date period, VBIRX achieves a 0.20% return, which is significantly lower than DFGFX's 1.60% return. Over the past 10 years, VBIRX has outperformed DFGFX with an annualized return of 1.91%, while DFGFX has yielded a comparatively lower 1.81% annualized return.
VBIRX
- 1D
- -0.10%
- 1M
- 0.05%
- YTD
- 0.20%
- 6M
- 0.54%
- 1Y
- 3.43%
- 3Y*
- 4.38%
- 5Y*
- 1.59%
- 10Y*
- 1.91%
DFGFX
- 1D
- 0.00%
- 1M
- 0.41%
- YTD
- 1.60%
- 6M
- 1.80%
- 1Y
- 2.64%
- 3Y*
- 4.29%
- 5Y*
- 2.30%
- 10Y*
- 1.81%
VBIRX vs. DFGFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 0.20% | 6.09% | 3.75% | 4.87% | -5.63% | -1.20% | 4.69% | 4.86% | 1.37% | 1.18% |
DFGFX DFA Two Year Global Fixed Income Portfolio | 1.60% | 2.89% | 5.36% | 4.95% | -2.62% | -0.37% | 0.88% | 2.87% | 1.91% | 0.93% |
Correlation
The correlation between VBIRX and DFGFX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001 | 0.42 |
Over the past year, the correlation between VBIRX and DFGFX has dropped to 0.11 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
VBIRX vs. DFGFX — Risk / Return Rank
VBIRX
DFGFX
VBIRX vs. DFGFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX) and DFA Two Year Global Fixed Income Portfolio (DFGFX). 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.
| VBIRX | DFGFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 2.36 | -1.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 1.89 | +0.47 |
| Martin ratioReturn relative to average drawdown | 7.65 | 5.81 | +1.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VBIRX | DFGFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 1.69 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 1.28 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.80 | 1.34 | -0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 2.29 | -1.32 |
Drawdowns
VBIRX vs. DFGFX - Drawdown Comparison
The maximum VBIRX drawdown since its inception was -8.69%, which is greater than DFGFX's maximum drawdown of -4.00%. Use the drawdown chart below to compare losses from any high point for VBIRX and DFGFX.
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Drawdown Indicators
| VBIRX | DFGFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.69% | -4.00% | -4.69% |
Max Drawdown (1Y)Largest decline over 1 year | -1.54% | -1.41% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -1.55% | -2.12% | +0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -8.64% | -4.00% | -4.64% |
Max Drawdown (10Y)Largest decline over 10 years | -8.69% | -4.00% | -4.69% |
Current DrawdownCurrent decline from peak | -0.73% | 0.00% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -0.99% | -0.23% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.46% | +0.02% |
Volatility
VBIRX vs. DFGFX - Volatility Comparison
Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX) has a higher volatility of 0.69% compared to DFA Two Year Global Fixed Income Portfolio (DFGFX) at 0.25%. This indicates that VBIRX's price experiences larger fluctuations and is considered to be riskier than DFGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBIRX | DFGFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 0.25% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 1.59% | 0.52% | +1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.26% | 1.58% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.96% | 1.81% | +1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.40% | 1.36% | +1.04% |
VBIRX vs. DFGFX - Expense Ratio Comparison
VBIRX has a 0.07% expense ratio, which is lower than DFGFX's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VBIRX vs. DFGFX - Dividend Comparison
VBIRX's dividend yield for the trailing twelve months is around 4.00%, more than DFGFX's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFGFX DFA Two Year Global Fixed Income Portfolio | 3.10% | 2.67% | 4.77% | 3.19% | 1.17% | 0.23% | 0.57% | 2.24% | 2.21% | 1.54% | 0.65% | 0.02% |
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 4.00% | 3.83% | 3.37% | 2.41% | 1.46% | 1.22% | 1.77% | 2.24% | 2.03% | 1.66% | 1.50% | 1.41% |
Frequently Asked Questions
VBIRX and DFGFX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBIRX has higher volatility (0.69%) compared to DFGFX (0.25%). In terms of maximum drawdown, VBIRX dropped -8.69% vs DFGFX's -4.00%.
DFGFX currently has the higher Sharpe Ratio (1.69 vs 1.62), 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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