A high performance dispersion compensating optical fiber is provided. In one embodiment, the optical fiber includes a core layer and a cladding layer surrounding the core layer. The core layer includes five core sublayers wherein the □ % of the first core sublayer is positive, and the □ % of at least one of the other core sublayers is negative, the radius ranges of the respective core sublayers beginning outwardly from the first core sublayer are 0.6 to 0.8 μm, 1.0 to 1.2 μm, 1.6 to 2.0 μm, 5.0 to 6.0 μm, and 7.0 to 8.0 μm, respectively; the ranges of □ % of the respective sublayers beginning outwardly from the first core sublayer are about 1.8 to 2.1%, 1.2 to 1.4%, 0.6 to 1%, −0.4 to −0.6% and 0.2 to 0.4%, and the cladding layer is a pure Silicon Dioxide glass layer.