VIEIX vs. DODFX

Last updated Jul 15, 2026

VIEIX (Vanguard Extended Market Index Fund Institutional Shares) and DODFX (Dodge & Cox International Stock Fund) are both mutual funds - VIEIX is a Mid Cap Blend Equities fund tracking the Spliced Extended Market Index, while DODFX is a Foreign Large Cap Equities fund actively managed by Dodge & Cox. VIEIX is passively managed, while DODFX is actively managed. Over the past 10 years, VIEIX returned 11.88%/yr vs 10.78%/yr for DODFX. A 0.72 correlation means they provide meaningful diversification when combined. VIEIX charges 0.04%/yr vs 0.61%/yr for DODFX.

Performance

VIEIX vs. DODFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Market Index Fund Institutional Shares (VIEIX) and Dodge & Cox International Stock Fund (DODFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIEIX achieves a 14.98% return, which is significantly higher than DODFX's 12.64% return. Over the past 10 years, VIEIX has outperformed DODFX with an annualized return of 11.88%, while DODFX has yielded a comparatively lower 10.78% annualized return.

VIEIX

• 1D: -0.92%
• 1M: 0.48%
• 6M: 9.66%
• YTD: 14.98%
• 1Y: 22.42%
• 3Y*: 17.44%
• 5Y*: 6.84%
• 10Y*: 11.88%

DODFX

• 1D: -1.07%
• 1M: 0.54%
• 6M: 9.96%
• YTD: 12.64%
• 1Y: 27.55%
• 3Y*: 18.79%
• 5Y*: 12.02%
• 10Y*: 10.78%

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

VIEIX vs. DODFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIEIX Vanguard Extended Market Index Fund Institutional Shares	14.98%	11.42%	15.49%	26.97%	-26.46%	12.46%	32.24%	28.05%	-9.36%	18.12%
DODFX Dodge & Cox International Stock Fund	12.64%	38.77%	3.74%	16.70%	-6.78%	10.99%	5.15%	22.79%	-18.01%	23.95%

Correlation

The correlation between VIEIX and DODFX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Apr 30, 2001	0.72

The correlation between VIEIX and DODFX has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

Return for Risk

VIEIX vs. DODFX — Risk / Return Rank

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

VIEIX

VIEIX Risk / Return Rank: 42
VIEIX Sharpe Ratio Rank: 36
VIEIX Sortino Ratio Rank: 36
VIEIX Omega Ratio Rank: 33
VIEIX Calmar Ratio Rank: 56
VIEIX Martin Ratio Rank: 48

DODFX

DODFX Risk / Return Rank: 69
DODFX Sharpe Ratio Rank: 76
DODFX Sortino Ratio Rank: 70
DODFX Omega Ratio Rank: 73
DODFX Calmar Ratio Rank: 65
DODFX Martin Ratio Rank: 61

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.

VIEIX vs. DODFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund Institutional Shares (VIEIX) and Dodge & Cox International Stock Fund (DODFX). 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.

	VIEIX	DODFX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.95	-0.63
Sortino ratio: Return per unit of downside risk	1.91	2.65	-0.73
Omega ratio: Gain probability vs. loss probability	1.23	1.36	-0.13
Calmar ratio: Return relative to maximum drawdown	2.29	2.46	-0.17
Martin ratio: Return relative to average drawdown	8.00	9.33	-1.33

VIEIX vs. DODFX - Sharpe Ratio Comparison

The current VIEIX Sharpe Ratio is 1.32, which is lower than the DODFX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of VIEIX and DODFX, 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

VIEIX vs. DODFX - Drawdown Comparison

The maximum VIEIX drawdown since its inception was -58.03%, smaller than the maximum DODFX drawdown of -63.23%. Use the drawdown chart below to compare losses from any high point for VIEIX and DODFX.

Drawdown Indicators

	VIEIX	DODFX	Difference
Max Drawdown Largest peak-to-trough decline	-58.03%	-63.23%	+5.20%
Max Drawdown (1Y) Largest decline over 1 year	-10.25%	-11.14%	+0.89%
Max Drawdown (3Y) Largest decline over 3 years	-26.84%	-14.41%	-12.43%
Max Drawdown (5Y) Largest decline over 5 years	-36.32%	-24.52%	-11.80%
Max Drawdown (10Y) Largest decline over 10 years	-41.62%	-44.61%	+2.99%
Current Drawdown Current decline from peak	-2.89%	-1.70%	-1.19%
Average Drawdown Average peak-to-trough decline	-13.79%	-11.61%	-2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	2.94%	-0.01%

Volatility

VIEIX vs. DODFX - Volatility Comparison

Vanguard Extended Market Index Fund Institutional Shares (VIEIX) and Dodge & Cox International Stock Fund (DODFX) have volatilities of 4.95% and 4.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIEIX	DODFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	4.98%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	13.29%	12.32%	+0.97%
Volatility (1Y) Calculated over the trailing 1-year period	17.82%	14.11%	+3.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	16.03%	+6.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.34%	17.83%	+4.51%

VIEIX vs. DODFX - Expense Ratio Comparison

VIEIX has a 0.04% expense ratio, which is lower than DODFX's 0.61% expense ratio.

Dividends

VIEIX vs. DODFX - Dividend Comparison

VIEIX's dividend yield for the trailing twelve months is around 1.02%, less than DODFX's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DODFX Dodge & Cox International Stock Fund	4.49%	5.05%	2.25%	2.29%	2.23%	2.49%	4.21%	3.93%	2.93%	1.93%	3.66%	2.30%
VIEIX Vanguard Extended Market Index Fund Institutional Shares	1.02%	1.14%	1.10%	1.26%	1.16%	1.14%	1.08%	1.31%	1.67%	1.27%	1.45%	1.37%

Frequently Asked Questions

Can I hold both VIEIX and DODFX in my portfolio?

VIEIX and DODFX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIEIX or DODFX?

DODFX has higher volatility (4.98%) compared to VIEIX (4.95%). In terms of maximum drawdown, VIEIX dropped -58.03% vs DODFX's -63.23%.

Which has better risk-adjusted returns?

DODFX currently has the higher Sharpe Ratio (1.95 vs 1.32), 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.