VTWAX vs. DODGX

Last updated Jun 13, 2026

VTWAX (Vanguard Total World Stock Index Fund Admiral Shares) and DODGX (Dodge & Cox Stock Fund Class I) are both mutual funds - VTWAX is a Global Equities fund tracking the FTSE Global All Cap Index, while DODGX is a Large Cap Value Equities fund actively managed by Dodge & Cox. VTWAX is passively managed, while DODGX is actively managed. Over the past 5 years, VTWAX returned 10.51%/yr vs 8.78%/yr for DODGX. Their correlation of 0.85 suggests significant overlap in exposure. VTWAX charges 0.09%/yr vs 0.51%/yr for DODGX.

Performance

VTWAX vs. DODGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) and Dodge & Cox Stock Fund Class I (DODGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTWAX achieves a 10.38% return, which is significantly higher than DODGX's 4.15% return.

VTWAX

• 1D: 2.34%
• 1M: -0.02%
• YTD: 10.38%
• 6M: 11.15%
• 1Y: 25.06%
• 3Y*: 19.75%
• 5Y*: 10.51%
• 10Y*: —

DODGX

• 1D: 0.95%
• 1M: 1.01%
• YTD: 4.15%
• 6M: 5.01%
• 1Y: 11.70%
• 3Y*: 14.99%
• 5Y*: 8.78%
• 10Y*: 13.01%

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

VTWAX vs. DODGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VTWAX Vanguard Total World Stock Index Fund Admiral Shares	10.38%	22.43%	16.43%	21.85%	-18.02%	18.17%	16.67%	17.53%
DODGX Dodge & Cox Stock Fund Class I	4.15%	13.66%	14.36%	17.49%	-7.25%	31.72%	7.10%	13.49%

Correlation

The correlation between VTWAX and DODGX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019	0.85

The correlation between VTWAX and DODGX shifts across timeframes, from 0.70 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VTWAX vs. DODGX — Risk / Return Rank

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

VTWAX

VTWAX Risk / Return Rank: 72
VTWAX Sharpe Ratio Rank: 72
VTWAX Sortino Ratio Rank: 68
VTWAX Omega Ratio Rank: 69
VTWAX Calmar Ratio Rank: 71
VTWAX Martin Ratio Rank: 79

DODGX

DODGX Risk / Return Rank: 24
DODGX Sharpe Ratio Rank: 22
DODGX Sortino Ratio Rank: 22
DODGX Omega Ratio Rank: 20
DODGX Calmar Ratio Rank: 28
DODGX Martin Ratio Rank: 30

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.

VTWAX vs. DODGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) and Dodge & Cox Stock Fund Class I (DODGX). 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.

	VTWAX	DODGX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.05	+0.91
Sortino ratio: Return per unit of downside risk	2.69	1.55	+1.14
Omega ratio: Gain probability vs. loss probability	1.36	1.18	+0.17
Calmar ratio: Return relative to maximum drawdown	2.66	1.60	+1.06
Martin ratio: Return relative to average drawdown	11.61	5.61	+6.00

VTWAX vs. DODGX - Sharpe Ratio Comparison

The current VTWAX Sharpe Ratio is 1.97, which is higher than the DODGX Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of VTWAX and DODGX, 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

VTWAX vs. DODGX - Drawdown Comparison

The maximum VTWAX drawdown since its inception was -34.20%, smaller than the maximum DODGX drawdown of -63.24%. Use the drawdown chart below to compare losses from any high point for VTWAX and DODGX.

Drawdown Indicators

	VTWAX	DODGX	Difference
Max Drawdown Largest peak-to-trough decline	-34.20%	-63.24%	+29.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-7.48%	-2.16%
Max Drawdown (3Y) Largest decline over 3 years	-16.43%	-14.89%	-1.54%
Max Drawdown (5Y) Largest decline over 5 years	-26.40%	-21.85%	-4.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.41%	—
Current Drawdown Current decline from peak	-2.45%	-0.47%	-1.98%
Average Drawdown Average peak-to-trough decline	-5.29%	-7.51%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	2.13%	+0.08%

Volatility

VTWAX vs. DODGX - Volatility Comparison

Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) has a higher volatility of 5.19% compared to Dodge & Cox Stock Fund Class I (DODGX) at 3.40%. This indicates that VTWAX's price experiences larger fluctuations and is considered to be riskier than DODGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTWAX	DODGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	3.40%	+1.79%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	8.43%	+2.28%
Volatility (1Y) Calculated over the trailing 1-year period	13.07%	11.38%	+1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	16.00%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	19.22%	-0.99%

VTWAX vs. DODGX - Expense Ratio Comparison

VTWAX has a 0.09% expense ratio, which is lower than DODGX's 0.51% expense ratio.

Dividends

VTWAX vs. DODGX - Dividend Comparison

VTWAX's dividend yield for the trailing twelve months is around 1.59%, less than DODGX's 9.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DODGX Dodge & Cox Stock Fund Class I	9.33%	9.86%	8.20%	3.76%	5.47%	3.22%	6.74%	10.23%	9.69%	6.78%	6.26%	5.36%
VTWAX Vanguard Total World Stock Index Fund Admiral Shares	1.59%	1.80%	1.92%	2.06%	2.17%	1.79%	1.64%	2.28%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VTWAX and DODGX in my portfolio?

VTWAX and DODGX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTWAX or DODGX?

VTWAX has higher volatility (5.19%) compared to DODGX (3.40%). In terms of maximum drawdown, VTWAX dropped -34.20% vs DODGX's -63.24%.

Which has better risk-adjusted returns?

VTWAX currently has the higher Sharpe Ratio (1.97 vs 1.05), 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.