VCOBX vs. DSFIX

Last updated Jun 26, 2026

VCOBX (Vanguard Core Bond Fund Admiral Shares) and DSFIX (DFA Social Fixed Income Portfolio) are both Intermediate Core Bond funds. Over the past 5 years, VCOBX returned 0.65%/yr vs 0.47%/yr for DSFIX. With a 0.96 correlation, they move nearly in lockstep. VCOBX charges 0.10%/yr vs 0.21%/yr for DSFIX.

Performance

VCOBX vs. DSFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Core Bond Fund Admiral Shares (VCOBX) and DFA Social Fixed Income Portfolio (DSFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VCOBX achieves a 1.10% return, which is significantly lower than DSFIX's 1.20% return.

VCOBX

• 1D: 0.45%
• 1M: 0.84%
• YTD: 1.10%
• 6M: 1.04%
• 1Y: 4.73%
• 3Y*: 5.00%
• 5Y*: 0.65%
• 10Y*: 2.17%

DSFIX

• 1D: 0.54%
• 1M: 0.95%
• YTD: 1.20%
• 6M: 1.09%
• 1Y: 4.52%
• 3Y*: 4.67%
• 5Y*: 0.47%
• 10Y*: —

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

VCOBX vs. DSFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCOBX Vanguard Core Bond Fund Admiral Shares	1.10%	7.73%	2.21%	6.39%	-13.13%	-1.51%	10.41%	9.64%	-0.85%	3.89%
DSFIX DFA Social Fixed Income Portfolio	1.20%	6.80%	1.81%	7.18%	-13.07%	-2.19%	9.26%	9.83%	-0.32%	3.24%

Correlation

The correlation between VCOBX and DSFIX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.96

The correlation between VCOBX and DSFIX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

VCOBX vs. DSFIX — Risk / Return Rank

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

VCOBX

VCOBX Risk / Return Rank: 30
VCOBX Sharpe Ratio Rank: 31
VCOBX Sortino Ratio Rank: 32
VCOBX Omega Ratio Rank: 30
VCOBX Calmar Ratio Rank: 33
VCOBX Martin Ratio Rank: 26

DSFIX

DSFIX Risk / Return Rank: 26
DSFIX Sharpe Ratio Rank: 26
DSFIX Sortino Ratio Rank: 27
DSFIX Omega Ratio Rank: 24
DSFIX Calmar Ratio Rank: 31
DSFIX Martin Ratio Rank: 24

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.

VCOBX vs. DSFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core Bond Fund Admiral Shares (VCOBX) and DFA Social Fixed Income Portfolio (DSFIX). 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.

	VCOBX	DSFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.19	+0.15
Sortino ratio: Return per unit of downside risk	1.99	1.77	+0.22
Omega ratio: Gain probability vs. loss probability	1.24	1.21	+0.03
Calmar ratio: Return relative to maximum drawdown	1.86	1.75	+0.11
Martin ratio: Return relative to average drawdown	5.23	4.75	+0.48

VCOBX vs. DSFIX - Sharpe Ratio Comparison

The current VCOBX Sharpe Ratio is 1.34, which is comparable to the DSFIX Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of VCOBX and DSFIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VCOBX vs. DSFIX - Drawdown Comparison

The maximum VCOBX drawdown since its inception was -18.14%, roughly equal to the maximum DSFIX drawdown of -18.94%. Use the drawdown chart below to compare losses from any high point for VCOBX and DSFIX.

Drawdown Indicators

	VCOBX	DSFIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.14%	-18.94%	+0.80%
Max Drawdown (1Y) Largest decline over 1 year	-2.62%	-2.66%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-5.63%	-4.70%	-0.93%
Max Drawdown (5Y) Largest decline over 5 years	-18.03%	-18.87%	+0.84%
Max Drawdown (10Y) Largest decline over 10 years	-18.14%	—	—
Current Drawdown Current decline from peak	-0.75%	-0.65%	-0.10%
Average Drawdown Average peak-to-trough decline	-4.16%	-4.64%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.98%	-0.05%

Volatility

VCOBX vs. DSFIX - Volatility Comparison

The current volatility for Vanguard Core Bond Fund Admiral Shares (VCOBX) is 1.12%, while DFA Social Fixed Income Portfolio (DSFIX) has a volatility of 1.20%. This indicates that VCOBX experiences smaller price fluctuations and is considered to be less risky than DSFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCOBX	DSFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	1.20%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	2.83%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	3.94%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.79%	5.79%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.76%	4.95%	-0.19%

VCOBX vs. DSFIX - Expense Ratio Comparison

VCOBX has a 0.10% expense ratio, which is lower than DSFIX's 0.21% 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

VCOBX vs. DSFIX - Dividend Comparison

VCOBX's dividend yield for the trailing twelve months is around 4.71%, more than DSFIX's 4.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DSFIX DFA Social Fixed Income Portfolio	4.10%	3.61%	3.95%	3.28%	2.54%	2.70%	2.22%	2.58%	2.56%	1.87%	0.00%
VCOBX Vanguard Core Bond Fund Admiral Shares	4.71%	4.80%	5.04%	4.44%	3.01%	1.23%	3.09%	3.08%	3.10%	2.20%	2.29%

Frequently Asked Questions

Can I hold both VCOBX and DSFIX in my portfolio?

With a correlation of 0.96, VCOBX and DSFIX 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.

Which is riskier, VCOBX or DSFIX?

DSFIX has higher volatility (1.20%) compared to VCOBX (1.12%). In terms of maximum drawdown, VCOBX dropped -18.14% vs DSFIX's -18.94%.

Which has better risk-adjusted returns?

VCOBX currently has the higher Sharpe Ratio (1.34 vs 1.19), 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.