AVSF vs. DFSD

Last updated Jun 23, 2026

AVSF (Avantis Short-Term Fixed Income ETF) and DFSD (Dimensional Short-Duration Fixed Income ETF) are both Short-Term Bond funds. Both are actively managed. Over the past 3 years, AVSF returned 4.81%/yr vs 5.31%/yr for DFSD. Their correlation of 0.86 suggests significant overlap in exposure. AVSF charges 0.15%/yr vs 0.16%/yr for DFSD.

Performance

AVSF vs. DFSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Short-Term Fixed Income ETF (AVSF) and Dimensional Short-Duration Fixed Income ETF (DFSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVSF achieves a 0.40% return, which is significantly lower than DFSD's 0.67% return.

AVSF

• 1D: -0.12%
• 1M: 0.16%
• YTD: 0.40%
• 6M: 0.58%
• 1Y: 3.65%
• 3Y*: 4.81%
• 5Y*: 1.87%
• 10Y*: —

DFSD

• 1D: -0.10%
• 1M: 0.27%
• YTD: 0.67%
• 6M: 0.81%
• 1Y: 3.88%
• 3Y*: 5.31%
• 5Y*: —
• 10Y*: —

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

AVSF vs. DFSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVSF Avantis Short-Term Fixed Income ETF	0.40%	6.57%	3.81%	5.25%	-5.52%	-0.05%
DFSD Dimensional Short-Duration Fixed Income ETF	0.67%	6.59%	4.60%	6.09%	-5.87%	-0.05%

Correlation

The correlation between AVSF and DFSD is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021	0.86

The correlation between AVSF and DFSD has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

Return for Risk

AVSF vs. DFSD — Risk / Return Rank

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

AVSF

AVSF Risk / Return Rank: 58
AVSF Sharpe Ratio Rank: 59
AVSF Sortino Ratio Rank: 64
AVSF Omega Ratio Rank: 60
AVSF Calmar Ratio Rank: 54
AVSF Martin Ratio Rank: 55

DFSD

DFSD Risk / Return Rank: 63
DFSD Sharpe Ratio Rank: 63
DFSD Sortino Ratio Rank: 71
DFSD Omega Ratio Rank: 69
DFSD Calmar Ratio Rank: 55
DFSD Martin Ratio Rank: 59

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.

AVSF vs. DFSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Short-Term Fixed Income ETF (AVSF) and Dimensional Short-Duration Fixed Income ETF (DFSD). 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.

	AVSF	DFSD	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.02	-0.11
Sortino ratio: Return per unit of downside risk	2.86	3.08	-0.22
Omega ratio: Gain probability vs. loss probability	1.36	1.39	-0.04
Calmar ratio: Return relative to maximum drawdown	2.59	2.66	-0.07
Martin ratio: Return relative to average drawdown	9.43	10.08	-0.65

AVSF vs. DFSD - Sharpe Ratio Comparison

The current AVSF Sharpe Ratio is 1.91, which is comparable to the DFSD Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of AVSF and DFSD, 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

AVSF vs. DFSD - Drawdown Comparison

The maximum AVSF drawdown since its inception was -8.85%, roughly equal to the maximum DFSD drawdown of -8.45%. Use the drawdown chart below to compare losses from any high point for AVSF and DFSD.

Drawdown Indicators

	AVSF	DFSD	Difference
Max Drawdown Largest peak-to-trough decline	-8.85%	-8.45%	-0.40%
Max Drawdown (1Y) Largest decline over 1 year	-1.42%	-1.47%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-1.42%	-1.47%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-8.85%	—	—
Current Drawdown Current decline from peak	-0.58%	-0.39%	-0.19%
Average Drawdown Average peak-to-trough decline	-2.19%	-2.05%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	0.39%	0.00%

Volatility

AVSF vs. DFSD - Volatility Comparison

Avantis Short-Term Fixed Income ETF (AVSF) and Dimensional Short-Duration Fixed Income ETF (DFSD) have volatilities of 0.67% and 0.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVSF	DFSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.64%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	1.44%	1.53%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	1.92%	1.93%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.66%	2.77%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.53%	2.77%	-0.24%

AVSF vs. DFSD - Expense Ratio Comparison

AVSF has a 0.15% expense ratio, which is lower than DFSD's 0.16% 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

AVSF vs. DFSD - Dividend Comparison

AVSF's dividend yield for the trailing twelve months is around 4.37%, more than DFSD's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AVSF Avantis Short-Term Fixed Income ETF	4.37%	4.31%	4.34%	3.93%	1.78%	0.48%	0.10%
DFSD Dimensional Short-Duration Fixed Income ETF	3.97%	4.12%	4.81%	3.89%	2.12%	0.11%	0.00%

Frequently Asked Questions

Can I hold both AVSF and DFSD in my portfolio?

With a correlation of 0.90, AVSF and DFSD 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, AVSF or DFSD?

AVSF has higher volatility (0.67%) compared to DFSD (0.64%). In terms of maximum drawdown, AVSF dropped -8.85% vs DFSD's -8.45%.

Which ETF is better, AVSF or DFSD?

On 3-year performance, DFSD leads with 5.31% vs 4.81% for AVSF. On fees, AVSF is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVSF or DFSD?

Over the 3-year period, DFSD has performed better with a 5.31% return vs 4.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVSF or DFSD?

AVSF is cheaper with a 0.15% expense ratio, compared with 0.16% for DFSD.

Which ETF pays a higher dividend yield, AVSF or DFSD?

AVSF has the higher dividend yield at 4.37%, compared with 3.97% for DFSD.

What is the main difference between AVSF and DFSD?

They also come from different issuers: Avantis and Dimensional. Their fees differ too: 0.15% for AVSF and 0.16% for DFSD.

Which has better risk-adjusted returns?

DFSD currently has the higher Sharpe Ratio (2.02 vs 1.91), 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.