XAGG vs. DFCA
XAGG (Eaton Vance Income Opportunities ETF) and DFCA (Dimensional California Municipal Bond ETF) are both exchange-traded funds - XAGG is a Multisector Bonds fund actively managed by Eaton Vance, while DFCA is a Municipal Bonds fund actively managed by Dimensional. Both are actively managed. Their 0.39 correlation means their historical movements had little consistent relationship. XAGG charges 0.50%/yr vs 0.19%/yr for DFCA.
Performance
XAGG vs. DFCA - Performance Comparison
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Returns By Period
In the year-to-date period, XAGG achieves a 2.19% return, which is significantly higher than DFCA's 0.30% return.
XAGG
- 1D
- -0.20%
- 1M
- -0.34%
- 6M
- 0.48%
- YTD
- 2.19%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
DFCA
- 1D
- -0.07%
- 1M
- -1.14%
- 6M
- -0.46%
- YTD
- 0.30%
- 1Y
- 3.34%
- 3Y*
- 2.42%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.30M | $2.36M | $2.93M | |
| $9.69M | $13.10M | $11.08M |
XAGG vs. DFCA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XAGG Eaton Vance Income Opportunities ETF | 2.19% | 1.75% |
DFCA Dimensional California Municipal Bond ETF | 0.30% | 0.53% |
Correlation
The correlation between XAGG and DFCA is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 10, 2025 | 0.39 |
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Return for Risk
XAGG vs. DFCA — Risk / Return Rank
XAGG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DFCA
XAGG vs. DFCA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Income Opportunities ETF (XAGG) and Dimensional California Municipal Bond ETF (DFCA). 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.
| XAGG | DFCA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.39 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.03 | — |
| Martin ratioReturn relative to average drawdown | — | 5.92 | — |
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Drawdowns
XAGG vs. DFCA - Drawdown Comparison
The maximum XAGG drawdown since its inception was -2.88%, smaller than the maximum DFCA drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for XAGG and DFCA.
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Drawdown Indicators
| XAGG | DFCA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.88% | -3.28% | +0.40% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.77% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.28% | — |
Current DrawdownCurrent decline from peak | -0.49% | -1.28% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -0.53% | -0.69% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.60% | — |
Volatility
XAGG vs. DFCA - Volatility Comparison
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Volatility by Period
| XAGG | DFCA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.69% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.44% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 1.83% | +1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.42% | 2.46% | +0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.42% | 2.46% | +0.96% |
XAGG vs. DFCA - Expense Ratio Comparison
XAGG has a 0.50% expense ratio, which is higher than DFCA's 0.19% expense ratio.
Dividends
XAGG vs. DFCA - Dividend Comparison
XAGG's dividend yield for the trailing twelve months is around 5.07%, more than DFCA's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
DFCA Dimensional California Municipal Bond ETF | 2.77% | 2.86% | 2.86% | 1.24% |
XAGG Eaton Vance Income Opportunities ETF | 5.07% | 1.02% | 0.00% | 0.00% |
Frequently Asked Questions
XAGG and DFCA have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DFCA is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DFCA is cheaper with a 0.19% expense ratio, compared with 0.50% for XAGG.
XAGG has the higher dividend yield at 5.07%, compared with 2.77% for DFCA.
XAGG is categorized as Multisector Bonds, while DFCA is Municipal Bonds. They also come from different issuers: Eaton Vance and Dimensional. Their fees differ too: 0.50% for XAGG and 0.19% for DFCA.
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