VTIIX vs. DGCFX

Last updated Jun 4, 2026

VTIIX (Vanguard Total International Bond II Index Fund Investor Class) and DGCFX (DFA Global Core Plus Fixed Income Portfolio) are both Global Bonds funds. Over the past 5 years, VTIIX returned 0.38%/yr vs 0.73%/yr for DGCFX. Their correlation of 0.84 suggests significant overlap in exposure. VTIIX charges 0.11%/yr vs 0.25%/yr for DGCFX.

Performance

VTIIX vs. DGCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total International Bond II Index Fund Investor Class (VTIIX) and DFA Global Core Plus Fixed Income Portfolio (DGCFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTIIX achieves a 0.66% return, which is significantly lower than DGCFX's 1.34% return.

VTIIX

• 1D: 0.00%
• 1M: 0.93%
• YTD: 0.66%
• 6M: 0.50%
• 1Y: 2.12%
• 3Y*: 4.11%
• 5Y*: 0.38%
• 10Y*: —

DGCFX

• 1D: 0.22%
• 1M: 1.20%
• YTD: 1.34%
• 6M: 1.08%
• 1Y: 5.33%
• 3Y*: 5.76%
• 5Y*: 0.73%
• 10Y*: —

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

VTIIX vs. DGCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VTIIX Vanguard Total International Bond II Index Fund Investor Class	0.66%	2.95%	3.82%	8.72%	-13.03%	-0.52%
DGCFX DFA Global Core Plus Fixed Income Portfolio	1.34%	6.12%	3.57%	10.01%	-15.88%	0.34%

Correlation

The correlation between VTIIX and DGCFX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021	0.84

The correlation between VTIIX and DGCFX has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Return for Risk

VTIIX vs. DGCFX — Risk / Return Rank

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

VTIIX

VTIIX Risk / Return Rank: 8
VTIIX Sharpe Ratio Rank: 8
VTIIX Sortino Ratio Rank: 8
VTIIX Omega Ratio Rank: 8
VTIIX Calmar Ratio Rank: 8
VTIIX Martin Ratio Rank: 7

DGCFX

DGCFX Risk / Return Rank: 26
DGCFX Sharpe Ratio Rank: 28
DGCFX Sortino Ratio Rank: 29
DGCFX Omega Ratio Rank: 30
DGCFX Calmar Ratio Rank: 21
DGCFX Martin Ratio Rank: 21

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.

VTIIX vs. DGCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond II Index Fund Investor Class (VTIIX) and DFA Global Core Plus Fixed Income Portfolio (DGCFX). 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.

	VTIIX	DGCFX	Difference
Sharpe ratio: Return per unit of total volatility	0.71	1.51	-0.80
Sortino ratio: Return per unit of downside risk	1.03	2.22	-1.19
Omega ratio: Gain probability vs. loss probability	1.13	1.29	-0.16
Calmar ratio: Return relative to maximum drawdown	0.76	1.68	-0.92
Martin ratio: Return relative to average drawdown	2.15	5.47	-3.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTIIX vs. DGCFX - Sharpe Ratio Comparison

The current VTIIX Sharpe Ratio is 0.71, which is lower than the DGCFX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of VTIIX and DGCFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VTIIX	DGCFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	1.51	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.13	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.54	-0.48

Drawdowns

VTIIX vs. DGCFX - Drawdown Comparison

The maximum VTIIX drawdown since its inception was -15.95%, smaller than the maximum DGCFX drawdown of -21.77%. Use the drawdown chart below to compare losses from any high point for VTIIX and DGCFX.

Drawdown Indicators

	VTIIX	DGCFX	Difference
Max Drawdown Largest peak-to-trough decline	-15.95%	-21.77%	+5.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-3.19%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-2.94%	-4.20%	+1.26%
Max Drawdown (5Y) Largest decline over 5 years	-15.95%	-21.77%	+5.82%
Current Drawdown Current decline from peak	-1.25%	-0.71%	-0.54%
Average Drawdown Average peak-to-trough decline	-6.05%	-5.37%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	0.98%	+0.06%

Volatility

VTIIX vs. DGCFX - Volatility Comparison

The current volatility for Vanguard Total International Bond II Index Fund Investor Class (VTIIX) is 1.32%, while DFA Global Core Plus Fixed Income Portfolio (DGCFX) has a volatility of 1.41%. This indicates that VTIIX experiences smaller price fluctuations and is considered to be less risky than DGCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTIIX	DGCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.41%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.66%	2.87%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	3.14%	3.56%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.53%	5.47%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.44%	4.92%	-0.48%

VTIIX vs. DGCFX - Expense Ratio Comparison

VTIIX has a 0.11% expense ratio, which is lower than DGCFX's 0.25% 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

VTIIX vs. DGCFX - Dividend Comparison

VTIIX's dividend yield for the trailing twelve months is around 4.30%, less than DGCFX's 4.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DGCFX DFA Global Core Plus Fixed Income Portfolio	4.75%	4.22%	4.40%	4.03%	2.26%	2.45%	1.78%	1.92%	6.17%
VTIIX Vanguard Total International Bond II Index Fund Investor Class	4.30%	4.21%	4.46%	4.16%	0.89%	0.58%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VTIIX and DGCFX in my portfolio?

VTIIX and DGCFX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTIIX or DGCFX?

DGCFX has higher volatility (1.41%) compared to VTIIX (1.32%). In terms of maximum drawdown, VTIIX dropped -15.95% vs DGCFX's -21.77%.

Which has better risk-adjusted returns?

DGCFX currently has the higher Sharpe Ratio (1.51 vs 0.71), 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.