DEMSX vs. PSHZF
DEMSX (DFA Emerging Markets Small Cap Portfolio) is Emerging Markets Equities fund managed by Dimensional, while PSHZF (Pershing Square Holdings, Ltd.) is a stock. Over the past 10 years, DEMSX returned 7.29%/yr vs 14.73%/yr for PSHZF. Their 0.35 correlation means their historical movements had little consistent relationship.
Performance
DEMSX vs. PSHZF - Performance Comparison
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Returns By Period
In the year-to-date period, DEMSX achieves a 1.18% return, which is significantly higher than PSHZF's -19.70% return. Over the past 10 years, DEMSX has underperformed PSHZF with an annualized return of 7.29%, while PSHZF has yielded a comparatively higher 14.73% annualized return.
DEMSX
- 1D
- 1.10%
- 1M
- -6.26%
- 6M
- -4.32%
- YTD
- 1.18%
- 1Y
- 7.88%
- 3Y*
- 8.78%
- 5Y*
- 5.23%
- 10Y*
- 7.29%
- ALL TIME*
- 10.05%
PSHZF
- 1D
- 2.32%
- 1M
- 2.25%
- 6M
- -16.23%
- YTD
- -19.70%
- 1Y
- -4.96%
- 3Y*
- 11.98%
- 5Y*
- 9.45%
- 10Y*
- 14.73%
- ALL TIME*
- 7.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $521.37K | $513.18K | $972.87K |
DEMSX vs. PSHZF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DEMSX DFA Emerging Markets Small Cap Portfolio | 1.18% | 19.01% | 4.92% | 16.32% | -15.30% | 19.54% | 13.82% | 14.89% | -17.55% | 33.32% |
PSHZF Pershing Square Holdings, Ltd. | -19.70% | 36.74% | 4.57% | 37.43% | -15.13% | 17.80% | 89.27% | 53.54% | -8.09% | -5.08% |
Correlation
The correlation between DEMSX and PSHZF is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.36 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.36 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2015 | 0.35 |
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Return for Risk
DEMSX vs. PSHZF — Risk / Return Rank
DEMSX
PSHZF
DEMSX vs. PSHZF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets Small Cap Portfolio (DEMSX) and Pershing Square Holdings, Ltd. (PSHZF). 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.
| DEMSX | PSHZF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.98 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | -0.21 | +0.69 |
| Martin ratioReturn relative to average drawdown | 1.50 | -0.42 | +1.92 |
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Drawdowns
DEMSX vs. PSHZF - Drawdown Comparison
The maximum DEMSX drawdown since its inception was -66.70%, which is greater than PSHZF's maximum drawdown of -56.97%. Use the drawdown chart below to compare losses from any high point for DEMSX and PSHZF.
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Drawdown Indicators
| DEMSX | PSHZF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.70% | -56.97% | -9.73% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -27.24% | +15.32% |
Max Drawdown (3Y)Largest decline over 3 years | -17.21% | -27.24% | +10.03% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -31.46% | +7.06% |
Max Drawdown (10Y)Largest decline over 10 years | -47.28% | -32.96% | -14.32% |
Current DrawdownCurrent decline from peak | -10.95% | -22.34% | +11.39% |
Average DrawdownAverage peak-to-trough decline | -13.55% | -23.16% | +9.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.80% | 13.78% | -9.98% |
Volatility
DEMSX vs. PSHZF - Volatility Comparison
The current volatility for DFA Emerging Markets Small Cap Portfolio (DEMSX) is 5.65%, while Pershing Square Holdings, Ltd. (PSHZF) has a volatility of 7.26%. This indicates that DEMSX experiences smaller price fluctuations and is considered to be less risky than PSHZF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEMSX | PSHZF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.65% | 7.26% | -1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 13.67% | 18.43% | -4.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.30% | 23.02% | -7.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.76% | 24.56% | -10.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 25.04% | -10.13% |
Dividends
DEMSX vs. PSHZF - Dividend Comparison
DEMSX's dividend yield for the trailing twelve months is around 4.01%, more than PSHZF's 1.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEMSX DFA Emerging Markets Small Cap Portfolio | 4.01% | 3.79% | 3.27% | 2.94% | 4.47% | 10.20% | 2.25% | 3.11% | 5.02% | 3.41% | 3.74% | 3.24% |
PSHZF Pershing Square Holdings, Ltd. | 1.34% | 1.01% | 1.21% | 1.12% | 1.38% | 1.14% | 1.35% | 1.57% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DEMSX and PSHZF have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSHZF has higher volatility (7.26%) compared to DEMSX (5.65%). In terms of maximum drawdown, DEMSX dropped -66.70% vs PSHZF's -56.97%.
DEMSX currently has the higher Sharpe Ratio (0.37 vs -0.25), 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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