BADEX vs. DESIX

Last updated Aug 1, 2026

BADEX (BlackRock Defensive Advantage Emerging Markets Fund) and DESIX (DFA Emerging Markets Sustainability Core 1 Portfolio) are both Emerging Markets Equities funds. Over the past 5 years, BADEX returned 7.59%/yr vs 10.98%/yr for DESIX. Their correlation of 0.90 means they have usually moved in the same direction. BADEX charges 1.06%/yr vs 0.46%/yr for DESIX.

Performance

BADEX vs. DESIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Defensive Advantage Emerging Markets Fund (BADEX) and DFA Emerging Markets Sustainability Core 1 Portfolio (DESIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BADEX achieves a 14.36% return, which is significantly higher than DESIX's 9.92% return.

BADEX

• 1D: 2.44%
• 1M: -1.28%
• 6M: 8.24%
• YTD: 14.36%
• 1Y: 20.71%
• 3Y*: 12.76%
• 5Y*: 7.59%
• 10Y*: —
• ALL TIME*: 7.76%

DESIX

• 1D: 3.23%
• 1M: -3.62%
• 6M: 3.15%
• YTD: 9.92%
• 1Y: 22.34%
• 3Y*: 14.29%
• 5Y*: 10.98%
• 10Y*: —
• ALL TIME*: 10.09%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BADEX BlackRock Defensive Advantage Emerging Markets Fund	$0.00	$0.00	$0.00
DESIX DFA Emerging Markets Sustainability Core 1 Portfolio	$0.00	$0.00	$0.00

BADEX vs. DESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BADEX BlackRock Defensive Advantage Emerging Markets Fund	14.36%	13.95%	10.15%	11.67%	-11.34%	4.49%	2.32%
DESIX DFA Emerging Markets Sustainability Core 1 Portfolio	9.92%	27.87%	6.66%	14.24%	-18.07%	24.59%	3.03%

Correlation

The correlation between BADEX and DESIX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Dec 24, 2020	0.90

The correlation between BADEX and DESIX has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

Return for Risk

BADEX vs. DESIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BADEX

BADEX Risk / Return Rank: 61
BADEX Sharpe Ratio Rank: 60
BADEX Sortino Ratio Rank: 56
BADEX Omega Ratio Rank: 67
BADEX Calmar Ratio Rank: 67
BADEX Martin Ratio Rank: 56

DESIX

DESIX Risk / Return Rank: 33
DESIX Sharpe Ratio Rank: 32
DESIX Sortino Ratio Rank: 30
DESIX Omega Ratio Rank: 34
DESIX Calmar Ratio Rank: 36
DESIX Martin Ratio Rank: 33

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BADEX vs. DESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Defensive Advantage Emerging Markets Fund (BADEX) and DFA Emerging Markets Sustainability Core 1 Portfolio (DESIX). 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.

	BADEX	DESIX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.02	+0.45
Sortino ratio: Return per unit of downside risk	2.04	1.45	+0.58
Omega ratio: Gain probability vs. loss probability	1.29	1.20	+0.09
Calmar ratio: Return relative to maximum drawdown	2.20	1.52	+0.68
Martin ratio: Return relative to average drawdown	7.37	4.71	+2.67

BADEX vs. DESIX - Sharpe Ratio Comparison

The current BADEX Sharpe Ratio is 1.47, which is higher than the DESIX Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of BADEX and DESIX, 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

BADEX vs. DESIX - Drawdown Comparison

The maximum BADEX drawdown since its inception was -21.86%, smaller than the maximum DESIX drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for BADEX and DESIX.

Drawdown Indicators

	BADEX	DESIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.86%	-36.03%	+14.17%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-13.16%	+4.27%
Max Drawdown (3Y) Largest decline over 3 years	-8.89%	-16.82%	+7.93%
Max Drawdown (5Y) Largest decline over 5 years	-20.57%	-29.09%	+8.52%
Current Drawdown Current decline from peak	-5.52%	-10.36%	+4.84%
Average Drawdown Average peak-to-trough decline	-5.56%	-7.70%	+2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	4.23%	-1.58%

Volatility

BADEX vs. DESIX - Volatility Comparison

The current volatility for BlackRock Defensive Advantage Emerging Markets Fund (BADEX) is 6.13%, while DFA Emerging Markets Sustainability Core 1 Portfolio (DESIX) has a volatility of 8.09%. This indicates that BADEX experiences smaller price fluctuations and is considered to be less risky than DESIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BADEX	DESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	8.09%	-1.96%
Volatility (6M) Calculated over the trailing 6-month period	12.54%	18.11%	-5.57%
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	19.67%	-6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.85%	19.22%	-8.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.92%	18.95%	-8.03%

BADEX vs. DESIX - Expense Ratio Comparison

BADEX has a 1.06% expense ratio, which is higher than DESIX's 0.46% expense ratio.

Dividends

BADEX vs. DESIX - Dividend Comparison

BADEX's dividend yield for the trailing twelve months is around 11.51%, more than DESIX's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BADEX BlackRock Defensive Advantage Emerging Markets Fund	11.51%	7.52%	2.27%	1.92%	2.43%	7.54%	0.03%	0.00%	0.00%
DESIX DFA Emerging Markets Sustainability Core 1 Portfolio	2.44%	2.63%	2.79%	2.85%	2.51%	22.49%	1.38%	1.99%	1.21%

Frequently Asked Questions

Can I hold both BADEX and DESIX in my portfolio?

With a correlation of 0.90, BADEX and DESIX 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, BADEX or DESIX?

DESIX has higher volatility (8.09%) compared to BADEX (6.13%). In terms of maximum drawdown, BADEX dropped -21.86% vs DESIX's -36.03%.

Which has better risk-adjusted returns?

BADEX currently has the higher Sharpe Ratio (1.47 vs 1.02), 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.