- ISIN
- US2332036118
- Issuer
- Dimensional
- Inception Date
- Mar 4, 1998
- Category
- Emerging Markets Equities
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Value
- Assets Under Management
- $4B
Share Price Chart
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Performance
DEMSX Performance Chart
DFA Emerging Markets Small Cap Portfolio (DEMSX) is up 1.2% since the beginning of the year. DEMSX is currently trading at $27 per share. Investors who bought $1,000 worth of DEMSX shares 5 years ago would now be looking at an investment worth $1,290.
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Returns By Period
DFA Emerging Markets Small Cap Portfolio (DEMSX) has returned 1.18% so far this year and 7.88% over the past 12 months. Over the last ten years, DEMSX has returned 7.29% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
DFA Emerging Markets Small Cap Portfolio
- 1D
- 1.10%
- 1M
- -6.26%
- 6M
- -4.32%
- YTD
- 1.18%
- 1Y
- 7.88%
- 3Y*
- 8.78%
- 5Y*
- 5.23%
- 10Y*
- 7.29%
- ALL TIME*
- 10.05%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
DEMSX Monthly Returns History
Based on dividend-adjusted daily data since Mar 5, 1998, DEMSX's average daily return is +0.04%, while the average monthly return is +1.00%. At this rate, an investment would double in approximately 5.8 years.
Historically, 59% of months were positive and 41% were negative. The best month was May 2009 with a return of +22.9%, while the worst month was Oct 2008 at -30.3%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 10 months.
On a daily basis, DEMSX closed higher 54% of trading days. The best single day was Oct 13, 2008 with a return of +9.2%, while the worst single day was Sep 17, 2001 at -12.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.75% | 3.59% | -8.75% | 10.21% | 0.72% | -1.86% | -7.08% | 1.18% | |||||
| 2025 | -1.34% | -0.92% | 0.81% | 1.75% | 6.02% | 5.73% | 0.27% | 3.74% | 2.29% | -0.11% | -1.25% | 0.88% | 19.01% |
| 2024 | -3.51% | 3.36% | 0.75% | 2.05% | 1.67% | 1.38% | 0.25% | 0.79% | 5.41% | -4.32% | -1.16% | -1.45% | 4.92% |
| 2023 | 6.57% | -3.53% | 1.70% | 0.52% | -0.99% | 4.49% | 4.99% | -3.23% | -1.85% | -4.08% | 8.12% | 3.43% | 16.32% |
| 2022 | -3.21% | -1.28% | 0.00% | -5.12% | 0.40% | -7.28% | 1.15% | 0.57% | -10.46% | -0.42% | 12.05% | -1.24% | -15.30% |
| 2021 | -1.21% | 5.68% | 2.64% | 5.00% | 2.00% | 3.12% | -2.56% | 1.43% | -3.00% | -0.15% | -2.65% | 8.39% | 19.54% |
Benchmark Metrics
DFA Emerging Markets Small Cap Portfolio has an annualized alpha of 6.31%, beta of 0.56, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since March 05, 1998.
- This fund captured 107.45% of S&P 500 Index gains but only 95.10% of its losses - a favorable profile for investors.
- Beta of 0.56 may look defensive, but with R2 of 0.39 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.39 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 6.31%
- Beta
- 0.56
- R²
- 0.39
- Upside Capture
- 107.45%
- Downside Capture
- 95.10%
Expense Ratio
DEMSX has an expense ratio of 0.59%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DEMSX ranks 9 for risk / return — above 9% of mutual funds peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for DFA Emerging Markets Small Cap Portfolio (DEMSX) and compare them to S&P 500 Index.
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.
| DEMSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.25 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 2.00 | -1.52 |
| Martin ratioReturn relative to average drawdown | 1.50 | 8.49 | -6.99 |
Dividends
Dividend History
DFA Emerging Markets Small Cap Portfolio provided a 4.01% dividend yield over the last twelve months, with an annual payout of $1.07 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.07 | $1.01 | $0.76 | $0.67 | $0.90 | $2.55 | $0.52 | $0.65 | $0.94 | $0.81 | $0.69 | $0.57 |
Dividend yield | 4.01% | 3.79% | 3.27% | 2.94% | 4.47% | 10.20% | 2.25% | 3.11% | 5.02% | 3.41% | 3.74% | 3.24% |
Monthly Dividends
The table displays the monthly dividend distributions for DFA Emerging Markets Small Cap Portfolio. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.24 | $0.00 | $0.27 | |||||
| 2025 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.50 | $1.01 |
| 2024 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.30 | $0.76 |
| 2023 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.31 | $0.67 |
| 2022 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.54 | $0.90 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $2.34 | $2.55 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the DFA Emerging Markets Small Cap Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the DFA Emerging Markets Small Cap Portfolio was 66.70%, occurring on Nov 20, 2008. Recovery took 459 trading sessions.
The current DFA Emerging Markets Small Cap Portfolio drawdown is 10.95%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-66.70%Nov 2008 | 1y 20d | 1y 10mo | 2y 10moNov 2007 - Sep 2010 | Financial crisis2007–2009 |
-52.11%Oct 2001 | 1y 8mo | 2y 2mo | 3y 10moJan 2000 - Dec 2003 | Dot-com crash2000–2002 |
-47.28%Mar 2020 | 2y 1mo | 9mo 17d | 2y 11moJan 2018 - Jan 2021 | COVID crash2020 |
-38.09%Oct 1998 | 5mo 16d | 6mo 14d | 12moApr 1998 - Apr 1999 | — |
-29.78%Oct 2011 | 5mo 8d | 2y 8mo | 3y 1moApr 2011 - Jun 2014 | — |
Drawdown Indicators
| DEMSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.70% | -56.78% | -9.92% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -9.10% | -2.82% |
Max Drawdown (3Y)Largest decline over 3 years | -17.21% | -18.90% | +1.69% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -25.43% | +1.03% |
Max Drawdown (10Y)Largest decline over 10 years | -47.28% | -33.92% | -13.36% |
Current DrawdownCurrent decline from peak | -10.95% | -1.58% | -9.37% |
Average DrawdownAverage peak-to-trough decline | -13.55% | -10.70% | -2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.80% | 2.14% | +1.66% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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