BEMIX vs. DFETX

Last updated Jun 4, 2026

BEMIX (Brandes Emerging Markets Fund) and DFETX (DFA Emerging Markets II Portfolio) are both Emerging Markets Diversified funds. Over the past 10 years, BEMIX returned 10.25%/yr vs 11.62%/yr for DFETX. Their correlation of 0.90 suggests significant overlap in exposure. BEMIX charges 1.12%/yr vs 0.37%/yr for DFETX.

Performance

BEMIX vs. DFETX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brandes Emerging Markets Fund (BEMIX) and DFA Emerging Markets II Portfolio (DFETX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BEMIX achieves a 25.80% return, which is significantly lower than DFETX's 31.29% return. Over the past 10 years, BEMIX has underperformed DFETX with an annualized return of 10.25%, while DFETX has yielded a comparatively higher 11.62% annualized return.

BEMIX

• 1D: 0.79%
• 1M: 7.59%
• YTD: 25.80%
• 6M: 27.44%
• 1Y: 60.96%
• 3Y*: 28.65%
• 5Y*: 13.00%
• 10Y*: 10.25%

DFETX

• 1D: 1.01%
• 1M: 10.68%
• YTD: 31.29%
• 6M: 34.72%
• 1Y: 60.68%
• 3Y*: 25.96%
• 5Y*: 10.33%
• 10Y*: 11.62%

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

BEMIX vs. DFETX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BEMIX Brandes Emerging Markets Fund	25.80%	47.83%	4.01%	22.53%	-15.91%	1.68%	-6.17%	18.60%	-15.56%	26.00%
DFETX DFA Emerging Markets II Portfolio	31.29%	33.54%	6.86%	13.11%	-16.84%	2.58%	14.08%	16.30%	-13.47%	36.75%

Correlation

The correlation between BEMIX and DFETX 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Feb 1, 2011	0.90

The correlation between BEMIX and DFETX has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

BEMIX vs. DFETX — Risk / Return Rank

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

BEMIX

BEMIX Risk / Return Rank: 94
BEMIX Sharpe Ratio Rank: 97
BEMIX Sortino Ratio Rank: 93
BEMIX Omega Ratio Rank: 93
BEMIX Calmar Ratio Rank: 93
BEMIX Martin Ratio Rank: 94

DFETX

DFETX Risk / Return Rank: 93
DFETX Sharpe Ratio Rank: 97
DFETX Sortino Ratio Rank: 93
DFETX Omega Ratio Rank: 92
DFETX Calmar Ratio Rank: 91
DFETX Martin Ratio Rank: 92

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.

BEMIX vs. DFETX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes Emerging Markets Fund (BEMIX) and DFA Emerging Markets II Portfolio (DFETX). 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.

	BEMIX	DFETX	Difference
Sharpe ratio: Return per unit of total volatility	3.70	3.68	+0.02
Sortino ratio: Return per unit of downside risk	4.63	4.67	-0.03
Omega ratio: Gain probability vs. loss probability	1.72	1.69	+0.03
Calmar ratio: Return relative to maximum drawdown	5.10	4.81	+0.29
Martin ratio: Return relative to average drawdown	21.30	19.38	+1.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BEMIX vs. DFETX - Sharpe Ratio Comparison

The current BEMIX Sharpe Ratio is 3.70, which is comparable to the DFETX Sharpe Ratio of 3.68. The chart below compares the historical Sharpe Ratios of BEMIX and DFETX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BEMIX	DFETX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.70	3.68	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.66	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.70	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.40	-0.09

Drawdowns

BEMIX vs. DFETX - Drawdown Comparison

The maximum BEMIX drawdown since its inception was -46.05%, smaller than the maximum DFETX drawdown of -62.33%. Use the drawdown chart below to compare losses from any high point for BEMIX and DFETX.

Drawdown Indicators

	BEMIX	DFETX	Difference
Max Drawdown Largest peak-to-trough decline	-46.05%	-62.33%	+16.28%
Max Drawdown (1Y) Largest decline over 1 year	-12.07%	-12.84%	+0.77%
Max Drawdown (3Y) Largest decline over 3 years	-16.08%	-16.13%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-36.37%	-31.80%	-4.57%
Max Drawdown (10Y) Largest decline over 10 years	-46.05%	-40.20%	-5.85%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-14.18%	-15.67%	+1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	3.17%	-0.28%

Volatility

BEMIX vs. DFETX - Volatility Comparison

The current volatility for Brandes Emerging Markets Fund (BEMIX) is 6.65%, while DFA Emerging Markets II Portfolio (DFETX) has a volatility of 7.58%. This indicates that BEMIX experiences smaller price fluctuations and is considered to be less risky than DFETX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BEMIX	DFETX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.65%	7.58%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	14.71%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	16.78%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.55%	15.80%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	16.62%	+0.47%

BEMIX vs. DFETX - Expense Ratio Comparison

BEMIX has a 1.12% expense ratio, which is higher than DFETX's 0.37% expense ratio.

Dividends

BEMIX vs. DFETX - Dividend Comparison

BEMIX's dividend yield for the trailing twelve months is around 1.71%, less than DFETX's 6.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BEMIX Brandes Emerging Markets Fund	1.71%	2.15%	3.04%	2.45%	2.86%	2.31%	1.31%	2.56%	1.55%	1.41%	2.20%	1.54%
DFETX DFA Emerging Markets II Portfolio	6.27%	8.24%	3.50%	3.84%	9.30%	19.29%	11.79%	12.48%	8.49%	1.93%	2.40%	3.40%

Frequently Asked Questions

Can I hold both BEMIX and DFETX in my portfolio?

BEMIX and DFETX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BEMIX or DFETX?

DFETX has higher volatility (7.58%) compared to BEMIX (6.65%). In terms of maximum drawdown, BEMIX dropped -46.05% vs DFETX's -62.33%.

Which has better risk-adjusted returns?

BEMIX currently has the higher Sharpe Ratio (3.70 vs 3.68), 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.