VGVT vs. DFCF

Last updated Jul 14, 2026

VGVT (Vanguard Government Securities Active ETF) and DFCF (Dimensional Core Fixed Income ETF) are both Intermediate Core Bond funds. Both are actively managed. Over the past year, VGVT returned 3.46% vs 4.03% for DFCF. Their correlation of 0.87 suggests significant overlap in exposure. VGVT charges 0.10%/yr vs 0.17%/yr for DFCF.

Performance

VGVT vs. DFCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Government Securities Active ETF (VGVT) and Dimensional Core Fixed Income ETF (DFCF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGVT achieves a -0.14% return, which is significantly lower than DFCF's -0.07% return.

VGVT

• 1D: -0.19%
• 1M: -0.33%
• 6M: -0.37%
• YTD: -0.14%
• 1Y: 3.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFCF

• 1D: -0.33%
• 1M: -0.70%
• 6M: -0.28%
• YTD: -0.07%
• 1Y: 4.03%
• 3Y*: 4.59%
• 5Y*: —
• 10Y*: —

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

VGVT vs. DFCF - Yearly Performance Comparison

	2026 (YTD)	2025
VGVT Vanguard Government Securities Active ETF	-0.14%	3.56%
DFCF Dimensional Core Fixed Income ETF	-0.07%	4.15%

Correlation

The correlation between VGVT and DFCF is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.87

The correlation between VGVT and DFCF has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

Return for Risk

VGVT vs. DFCF — Risk / Return Rank

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

VGVT

VGVT Risk / Return Rank: 34
VGVT Sharpe Ratio Rank: 36
VGVT Sortino Ratio Rank: 38
VGVT Omega Ratio Rank: 34
VGVT Calmar Ratio Rank: 31
VGVT Martin Ratio Rank: 29

DFCF

DFCF Risk / Return Rank: 34
DFCF Sharpe Ratio Rank: 35
DFCF Sortino Ratio Rank: 34
DFCF Omega Ratio Rank: 31
DFCF Calmar Ratio Rank: 35
DFCF Martin Ratio Rank: 34

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.

VGVT vs. DFCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Government Securities Active ETF (VGVT) and Dimensional Core Fixed Income ETF (DFCF). 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.

	VGVT	DFCF	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.02	+0.05
Sortino ratio: Return per unit of downside risk	1.60	1.48	+0.12
Omega ratio: Gain probability vs. loss probability	1.19	1.18	+0.01
Calmar ratio: Return relative to maximum drawdown	1.25	1.45	-0.20
Martin ratio: Return relative to average drawdown	3.30	4.07	-0.76

VGVT vs. DFCF - Sharpe Ratio Comparison

The current VGVT Sharpe Ratio is 1.07, which is comparable to the DFCF Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of VGVT and DFCF, 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

VGVT vs. DFCF - Drawdown Comparison

The maximum VGVT drawdown since its inception was -2.77%, smaller than the maximum DFCF drawdown of -19.56%. Use the drawdown chart below to compare losses from any high point for VGVT and DFCF.

Drawdown Indicators

	VGVT	DFCF	Difference
Max Drawdown Largest peak-to-trough decline	-2.77%	-19.56%	+16.79%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	-2.79%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.05%	—
Current Drawdown Current decline from peak	-2.00%	-1.90%	-0.10%
Average Drawdown Average peak-to-trough decline	-0.77%	-7.88%	+7.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	0.99%	+0.06%

Volatility

VGVT vs. DFCF - Volatility Comparison

The current volatility for Vanguard Government Securities Active ETF (VGVT) is 1.02%, while Dimensional Core Fixed Income ETF (DFCF) has a volatility of 1.33%. This indicates that VGVT experiences smaller price fluctuations and is considered to be less risky than DFCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGVT	DFCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	1.33%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	3.11%	-0.62%
Volatility (1Y) Calculated over the trailing 1-year period	3.24%	3.97%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.25%	6.42%	-3.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.25%	6.42%	-3.17%

VGVT vs. DFCF - Expense Ratio Comparison

VGVT has a 0.10% expense ratio, which is lower than DFCF's 0.17% 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

VGVT vs. DFCF - Dividend Comparison

VGVT's dividend yield for the trailing twelve months is around 4.38%, which matches DFCF's 4.38% yield.

Position	TTM	2025	2024	2023	2022	2021
DFCF Dimensional Core Fixed Income ETF	4.38%	4.48%	4.61%	4.51%	3.27%	0.16%
VGVT Vanguard Government Securities Active ETF	4.38%	2.29%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VGVT and DFCF in my portfolio?

VGVT and DFCF have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGVT or DFCF?

DFCF has higher volatility (1.33%) compared to VGVT (1.02%). In terms of maximum drawdown, VGVT dropped -2.77% vs DFCF's -19.56%.

Which ETF is better, VGVT or DFCF?

On 1-year performance, DFCF leads with 4.03% vs 3.46% for VGVT. On fees, VGVT is cheaper at 0.10% per year. On volatility, VGVT has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VGVT or DFCF?

Over the 1-year period, DFCF has performed better with a 4.03% return vs 3.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VGVT or DFCF?

VGVT is cheaper with a 0.10% expense ratio, compared with 0.17% for DFCF.

Which ETF pays a higher dividend yield, VGVT or DFCF?

VGVT and DFCF have nearly identical dividend yields, around 4.38%.

What is the main difference between VGVT and DFCF?

They also come from different issuers: Vanguard and Dimensional. Their fees differ too: 0.10% for VGVT and 0.17% for DFCF.

Which has better risk-adjusted returns?

VGVT currently has the higher Sharpe Ratio (1.07 vs 1.02), 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.