BIAUX vs. DFSCX

Last updated Aug 4, 2026

BIAUX (Brown Advisory Small-Cap Fundamental Value Fund) and DFSCX (DFA U.S. Micro Cap Portfolio) are both Small Cap Blend Equities funds. Over the past 10 years, BIAUX returned 10.50%/yr vs 11.46%/yr for DFSCX. Their correlation of 0.95 means they have usually moved in the same direction. BIAUX charges 1.10%/yr vs 0.41%/yr for DFSCX.

Performance

BIAUX vs. DFSCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Advisory Small-Cap Fundamental Value Fund (BIAUX) and DFA U.S. Micro Cap Portfolio (DFSCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BIAUX having a 21.91% return and DFSCX slightly higher at 22.99%. Over the past 10 years, BIAUX has underperformed DFSCX with an annualized return of 10.50%, while DFSCX has yielded a comparatively higher 11.46% annualized return.

BIAUX

• 1D: 0.19%
• 1M: 0.78%
• 6M: 14.85%
• YTD: 21.91%
• 1Y: 33.03%
• 3Y*: 15.37%
• 5Y*: 10.57%
• 10Y*: 10.50%
• ALL TIME*: 12.53%

DFSCX

• 1D: -0.18%
• 1M: -0.62%
• 6M: 14.68%
• YTD: 22.99%
• 1Y: 39.29%
• 3Y*: 16.31%
• 5Y*: 10.84%
• 10Y*: 11.46%
• ALL TIME*: 12.44%

*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)
BIAUX Brown Advisory Small-Cap Fundamental Value Fund	$0.00	$0.00	$0.00
DFSCX DFA U.S. Micro Cap Portfolio	$0.00	$0.00	$0.00

BIAUX vs. DFSCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIAUX Brown Advisory Small-Cap Fundamental Value Fund	21.91%	5.71%	11.73%	16.16%	-8.74%	31.11%	-5.69%	29.85%	-13.48%	12.17%
DFSCX DFA U.S. Micro Cap Portfolio	22.99%	9.65%	11.43%	17.93%	-12.49%	33.70%	6.61%	20.68%	-11.60%	10.92%

Correlation

The correlation between BIAUX and DFSCX is 0.93, 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.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.95

The correlation between BIAUX and DFSCX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

BIAUX vs. DFSCX — Risk / Return Rank

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

BIAUX

BIAUX Risk / Return Rank: 80
BIAUX Sharpe Ratio Rank: 76
BIAUX Sortino Ratio Rank: 79
BIAUX Omega Ratio Rank: 69
BIAUX Calmar Ratio Rank: 92
BIAUX Martin Ratio Rank: 84

DFSCX

DFSCX Risk / Return Rank: 88
DFSCX Sharpe Ratio Rank: 86
DFSCX Sortino Ratio Rank: 86
DFSCX Omega Ratio Rank: 79
DFSCX Calmar Ratio Rank: 95
DFSCX Martin Ratio Rank: 94

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.

BIAUX vs. DFSCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Advisory Small-Cap Fundamental Value Fund (BIAUX) and DFA U.S. Micro Cap Portfolio (DFSCX). 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.

	BIAUX	DFSCX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.13	-0.28
Sortino ratio: Return per unit of downside risk	2.78	3.14	-0.36
Omega ratio: Gain probability vs. loss probability	1.32	1.37	-0.05
Calmar ratio: Return relative to maximum drawdown	3.77	4.50	-0.73
Martin ratio: Return relative to average drawdown	11.11	15.06	-3.96

BIAUX vs. DFSCX - Sharpe Ratio Comparison

The current BIAUX Sharpe Ratio is 1.85, which is comparable to the DFSCX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of BIAUX and DFSCX, 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

BIAUX vs. DFSCX - Drawdown Comparison

The maximum BIAUX drawdown since its inception was -45.55%, smaller than the maximum DFSCX drawdown of -63.07%. Use the drawdown chart below to compare losses from any high point for BIAUX and DFSCX.

Drawdown Indicators

	BIAUX	DFSCX	Difference
Max Drawdown Largest peak-to-trough decline	-45.55%	-63.07%	+17.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.22%	-8.17%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-25.16%	-27.01%	+1.85%
Max Drawdown (5Y) Largest decline over 5 years	-25.16%	-27.01%	+1.85%
Max Drawdown (10Y) Largest decline over 10 years	-45.55%	-46.88%	+1.33%
Current Drawdown Current decline from peak	-1.85%	-1.81%	-0.04%
Average Drawdown Average peak-to-trough decline	-6.13%	-9.87%	+3.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	2.44%	+0.35%

Volatility

BIAUX vs. DFSCX - Volatility Comparison

Brown Advisory Small-Cap Fundamental Value Fund (BIAUX) has a higher volatility of 4.00% compared to DFA U.S. Micro Cap Portfolio (DFSCX) at 3.50%. This indicates that BIAUX's price experiences larger fluctuations and is considered to be riskier than DFSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIAUX	DFSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	3.50%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	11.51%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	17.27%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	20.84%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	22.59%	-1.06%

BIAUX vs. DFSCX - Expense Ratio Comparison

BIAUX has a 1.10% expense ratio, which is higher than DFSCX's 0.41% expense ratio.

Dividends

BIAUX vs. DFSCX - Dividend Comparison

BIAUX's dividend yield for the trailing twelve months is around 11.06%, more than DFSCX's 0.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIAUX Brown Advisory Small-Cap Fundamental Value Fund	11.06%	13.49%	16.54%	5.94%	6.16%	0.48%	0.47%	9.38%	14.31%	4.11%	0.34%	2.41%
DFSCX DFA U.S. Micro Cap Portfolio	0.86%	1.03%	0.97%	2.48%	5.16%	10.77%	0.87%	2.80%	5.50%	5.05%	0.90%	6.33%

Frequently Asked Questions

Can I hold both BIAUX and DFSCX in my portfolio?

With a correlation of 0.93, BIAUX and DFSCX 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, BIAUX or DFSCX?

BIAUX has higher volatility (4.00%) compared to DFSCX (3.50%). In terms of maximum drawdown, BIAUX dropped -45.55% vs DFSCX's -63.07%.

Which has better risk-adjusted returns?

DFSCX currently has the higher Sharpe Ratio (2.13 vs 1.85), 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.