VBLAX vs. DODIX
VBLAX (Vanguard Long-Term Bond Index Fund Admiral Shares) and DODIX (Dodge & Cox Income Fund) are both mutual funds - VBLAX is a Total Bond Market fund managed by Vanguard, while DODIX is a Intermediate Core-Plus Bond fund actively managed by Dodge & Cox. Over the past 5 years, VBLAX returned -5.20%/yr vs 0.71%/yr for DODIX. Their correlation of 0.87 means they have usually moved in the same direction. VBLAX charges 0.07%/yr vs 0.41%/yr for DODIX.
Performance
VBLAX vs. DODIX - Performance Comparison
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Returns By Period
In the year-to-date period, VBLAX achieves a -3.42% return, which is significantly lower than DODIX's -0.78% return.
VBLAX
- 1D
- -0.50%
- 1M
- -3.76%
- 6M
- -3.26%
- YTD
- -3.42%
- 1Y
- -1.17%
- 3Y*
- 1.23%
- 5Y*
- -5.20%
- 10Y*
- —
- ALL TIME*
- 0.08%
DODIX
- 1D
- -0.32%
- 1M
- -1.50%
- 6M
- -1.01%
- YTD
- -0.78%
- 1Y
- 2.29%
- 3Y*
- 4.75%
- 5Y*
- 0.71%
- 10Y*
- 2.62%
- ALL TIME*
- 5.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VBLAX vs. DODIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | -3.42% | 6.57% | -4.14% | 7.55% | -27.22% | -3.36% | 15.75% | 16.45% |
DODIX Dodge & Cox Income Fund | -0.78% | 8.32% | 2.25% | 7.69% | -11.42% | -0.92% | 9.46% | 7.94% |
Correlation
The correlation between VBLAX and DODIX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.87 |
The correlation between VBLAX and DODIX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.
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Return for Risk
VBLAX vs. DODIX — Risk / Return Rank
VBLAX
DODIX
VBLAX vs. DODIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) and Dodge & Cox Income Fund (DODIX). 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.
| VBLAX | DODIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.13 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 0.98 | -1.00 |
| Martin ratioReturn relative to average drawdown | -0.05 | 2.42 | -2.46 |
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Drawdowns
VBLAX vs. DODIX - Drawdown Comparison
The maximum VBLAX drawdown since its inception was -38.62%, which is greater than DODIX's maximum drawdown of -16.89%. Use the drawdown chart below to compare losses from any high point for VBLAX and DODIX.
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Drawdown Indicators
| VBLAX | DODIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -16.89% | -21.73% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -3.17% | -3.28% |
Max Drawdown (3Y)Largest decline over 3 years | -11.56% | -5.29% | -6.27% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -16.89% | -19.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.89% | — |
Current DrawdownCurrent decline from peak | -27.42% | -2.89% | -24.53% |
Average DrawdownAverage peak-to-trough decline | -18.25% | -1.50% | -16.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.29% | +1.46% |
Volatility
VBLAX vs. DODIX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) has a higher volatility of 2.10% compared to Dodge & Cox Income Fund (DODIX) at 1.12%. This indicates that VBLAX's price experiences larger fluctuations and is considered to be riskier than DODIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBLAX | DODIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 1.12% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 6.00% | 3.22% | +2.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.87% | 4.08% | +3.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.81% | 5.59% | +7.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.56% | 4.47% | +8.09% |
VBLAX vs. DODIX - Expense Ratio Comparison
VBLAX has a 0.07% expense ratio, which is lower than DODIX's 0.41% expense ratio.
Dividends
VBLAX vs. DODIX - Dividend Comparison
VBLAX's dividend yield for the trailing twelve months is around 4.54%, more than DODIX's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODIX Dodge & Cox Income Fund | 4.37% | 4.23% | 4.24% | 3.86% | 2.19% | 3.23% | 4.66% | 3.63% | 3.43% | 3.03% | 3.25% | 3.09% |
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | 4.54% | 4.64% | 4.61% | 4.08% | 4.13% | 2.62% | 5.39% | 3.25% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, VBLAX and DODIX 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.
VBLAX has higher volatility (2.10%) compared to DODIX (1.12%). In terms of maximum drawdown, VBLAX dropped -38.62% vs DODIX's -16.89%.
DODIX currently has the higher Sharpe Ratio (0.76 vs -0.02), 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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