BSV vs. DFSD
BSV (Vanguard Short-Term Bond Index Fund ETF Shares) and DFSD (Dimensional Short-Duration Fixed Income ETF) are both Short-Term Bond funds. BSV is passively managed, while DFSD is actively managed. Over the past 3 years, BSV returned 4.41%/yr vs 5.33%/yr for DFSD. Their correlation of 0.84 suggests significant overlap in exposure. BSV charges 0.03%/yr vs 0.16%/yr for DFSD.
Performance
BSV vs. DFSD - Performance Comparison
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Returns By Period
In the year-to-date period, BSV achieves a 0.29% return, which is significantly lower than DFSD's 0.62% return.
BSV
- 1D
- -0.08%
- 1M
- 0.06%
- YTD
- 0.29%
- 6M
- 0.52%
- 1Y
- 3.68%
- 3Y*
- 4.41%
- 5Y*
- 1.62%
- 10Y*
- 1.95%
DFSD
- 1D
- -0.13%
- 1M
- 0.23%
- YTD
- 0.62%
- 6M
- 0.86%
- 1Y
- 4.23%
- 3Y*
- 5.33%
- 5Y*
- —
- 10Y*
- —
BSV vs. DFSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.29% | 6.00% | 3.78% | 4.90% | -5.49% | -0.05% |
DFSD Dimensional Short-Duration Fixed Income ETF | 0.62% | 6.59% | 4.60% | 6.09% | -5.87% | -0.02% |
Correlation
The correlation between BSV and DFSD is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021 | 0.84 |
The correlation between BSV and DFSD has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.
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Return for Risk
BSV vs. DFSD — Risk / Return Rank
BSV
DFSD
BSV vs. DFSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Bond Index Fund ETF Shares (BSV) 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.
| BSV | DFSD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.44 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 2.90 | -0.03 |
| Martin ratioReturn relative to average drawdown | 10.07 | 11.21 | -1.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSV | DFSD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 2.24 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 0.91 | -0.06 |
Drawdowns
BSV vs. DFSD - Drawdown Comparison
The maximum BSV drawdown since its inception was -8.54%, roughly equal to the maximum DFSD drawdown of -8.45%. Use the drawdown chart below to compare losses from any high point for BSV and DFSD.
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Drawdown Indicators
| BSV | DFSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.54% | -8.45% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -1.47% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -1.53% | -1.47% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -8.54% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -8.54% | — | — |
Current DrawdownCurrent decline from peak | -0.63% | -0.44% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -2.07% | +1.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 0.38% | -0.01% |
Volatility
BSV vs. DFSD - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund ETF Shares (BSV) is 0.52%, while Dimensional Short-Duration Fixed Income ETF (DFSD) has a volatility of 0.64%. This indicates that BSV experiences smaller price fluctuations and is considered to be less risky than DFSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSV | DFSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 0.64% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.26% | 1.47% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.81% | 1.90% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.72% | 2.78% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.37% | 2.78% | -0.41% |
BSV vs. DFSD - Expense Ratio Comparison
BSV has a 0.03% 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
BSV vs. DFSD - Dividend Comparison
BSV's dividend yield for the trailing twelve months is around 4.00%, which matches DFSD's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 4.00% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
DFSD Dimensional Short-Duration Fixed Income ETF | 3.98% | 4.12% | 4.81% | 3.89% | 2.12% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, BSV 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.
DFSD has higher volatility (0.64%) compared to BSV (0.52%). In terms of maximum drawdown, BSV dropped -8.54% vs DFSD's -8.45%.
On 3-year performance, DFSD leads with 5.33% vs 4.41% for BSV. On fees, BSV is cheaper at 0.03% per year. On volatility, BSV has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DFSD has performed better with a 5.33% return vs 4.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSV is cheaper with a 0.03% expense ratio, compared with 0.16% for DFSD.
BSV has the higher dividend yield at 4.00%, compared with 3.98% for DFSD.
They also come from different issuers: Vanguard and Dimensional. Their fees differ too: 0.03% for BSV and 0.16% for DFSD.
DFSD currently has the higher Sharpe Ratio (2.24 vs 2.05), 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.
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