AVGE vs. DGEIX

Last updated Jun 21, 2026

AVGE (Avantis All Equity Markets ETF) and DGEIX (DFA Global Equity Portfolio Institutional Class) are both Global Equities funds. Both are actively managed. Over the past 3 years, AVGE returned 20.67%/yr vs 19.20%/yr for DGEIX. With a 0.98 correlation, they move nearly in lockstep. AVGE charges 0.23%/yr vs 0.25%/yr for DGEIX.

Performance

AVGE vs. DGEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis All Equity Markets ETF (AVGE) and DFA Global Equity Portfolio Institutional Class (DGEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVGE achieves a 16.38% return, which is significantly higher than DGEIX's 12.58% return.

AVGE

• 1D: 0.98%
• 1M: 2.50%
• YTD: 16.38%
• 6M: 16.52%
• 1Y: 34.58%
• 3Y*: 20.67%
• 5Y*: —
• 10Y*: —

DGEIX

• 1D: 0.95%
• 1M: 1.97%
• YTD: 12.58%
• 6M: 12.78%
• 1Y: 29.34%
• 3Y*: 19.20%
• 5Y*: 11.30%
• 10Y*: 12.54%

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

AVGE vs. DGEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AVGE Avantis All Equity Markets ETF	16.38%	20.84%	13.96%	19.04%	11.83%
DGEIX DFA Global Equity Portfolio Institutional Class	12.58%	19.86%	15.71%	20.35%	8.36%

Correlation

The correlation between AVGE and DGEIX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 29, 2022	0.98

The correlation between AVGE and DGEIX has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

AVGE vs. DGEIX — Risk / Return Rank

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

AVGE

AVGE Risk / Return Rank: 84
AVGE Sharpe Ratio Rank: 86
AVGE Sortino Ratio Rank: 85
AVGE Omega Ratio Rank: 84
AVGE Calmar Ratio Rank: 81
AVGE Martin Ratio Rank: 85

DGEIX

DGEIX Risk / Return Rank: 79
DGEIX Sharpe Ratio Rank: 80
DGEIX Sortino Ratio Rank: 76
DGEIX Omega Ratio Rank: 74
DGEIX Calmar Ratio Rank: 79
DGEIX Martin Ratio Rank: 85

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.

AVGE vs. DGEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis All Equity Markets ETF (AVGE) and DFA Global Equity Portfolio Institutional Class (DGEIX). 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.

	AVGE	DGEIX	Difference
Sharpe ratio: Return per unit of total volatility	2.64	2.37	+0.27
Sortino ratio: Return per unit of downside risk	3.60	3.26	+0.34
Omega ratio: Gain probability vs. loss probability	1.48	1.43	+0.05
Calmar ratio: Return relative to maximum drawdown	3.99	3.29	+0.70
Martin ratio: Return relative to average drawdown	16.88	14.22	+2.66

AVGE vs. DGEIX - Sharpe Ratio Comparison

The current AVGE Sharpe Ratio is 2.64, which is comparable to the DGEIX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of AVGE and DGEIX, 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

AVGE vs. DGEIX - Drawdown Comparison

The maximum AVGE drawdown since its inception was -17.13%, smaller than the maximum DGEIX drawdown of -59.77%. Use the drawdown chart below to compare losses from any high point for AVGE and DGEIX.

Drawdown Indicators

	AVGE	DGEIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.13%	-59.77%	+42.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.60%	-8.85%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-17.13%	-16.97%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.20%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.00%	—
Current Drawdown Current decline from peak	-0.59%	-0.56%	-0.03%
Average Drawdown Average peak-to-trough decline	-2.40%	-7.98%	+5.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.05%	-0.02%

Volatility

AVGE vs. DGEIX - Volatility Comparison

Avantis All Equity Markets ETF (AVGE) has a higher volatility of 4.86% compared to DFA Global Equity Portfolio Institutional Class (DGEIX) at 4.58%. This indicates that AVGE's price experiences larger fluctuations and is considered to be riskier than DGEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVGE	DGEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	4.58%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	10.47%	9.87%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	12.30%	+0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.27%	15.74%	-0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.27%	16.90%	-1.63%

AVGE vs. DGEIX - Expense Ratio Comparison

AVGE has a 0.23% expense ratio, which is lower than DGEIX'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

AVGE vs. DGEIX - Dividend Comparison

AVGE's dividend yield for the trailing twelve months is around 2.11%, less than DGEIX's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVGE Avantis All Equity Markets ETF	2.11%	1.67%	1.92%	1.93%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DGEIX DFA Global Equity Portfolio Institutional Class	2.70%	2.79%	3.64%	3.82%	4.92%	1.94%	2.37%	2.22%	2.62%	1.50%	1.90%	1.98%

Frequently Asked Questions

Can I hold both AVGE and DGEIX in my portfolio?

With a correlation of 0.98, AVGE and DGEIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AVGE or DGEIX?

AVGE has higher volatility (4.86%) compared to DGEIX (4.58%). In terms of maximum drawdown, AVGE dropped -17.13% vs DGEIX's -59.77%.

Which has better risk-adjusted returns?

AVGE currently has the higher Sharpe Ratio (2.64 vs 2.37), 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.