DFAE vs. DFETX

Last updated Jun 5, 2026

DFAE (Dimensional Emerging Core Equity Market ETF) and DFETX (DFA Emerging Markets II Portfolio) are both funds - DFAE is a Emerging Markets Equities fund actively managed by Dimensional, while DFETX is a Emerging Markets Diversified fund managed by Dimensional. Over the past 5 years, DFAE returned 8.77%/yr vs 10.03%/yr for DFETX. Their correlation of 0.94 suggests significant overlap in exposure. DFAE charges 0.35%/yr vs 0.37%/yr for DFETX.

Performance

DFAE vs. DFETX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Core Equity Market ETF (DFAE) 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, DFAE achieves a 25.28% return, which is significantly lower than DFETX's 30.43% return.

DFAE

• 1D: -0.83%
• 1M: 4.78%
• YTD: 25.28%
• 6M: 27.97%
• 1Y: 49.72%
• 3Y*: 23.46%
• 5Y*: 8.77%
• 10Y*: —

DFETX

• 1D: -0.66%
• 1M: 8.42%
• YTD: 30.43%
• 6M: 33.83%
• 1Y: 57.92%
• 3Y*: 25.69%
• 5Y*: 10.03%
• 10Y*: 11.54%

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

DFAE vs. DFETX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DFAE Dimensional Emerging Core Equity Market ETF	25.28%	31.48%	7.68%	12.63%	-17.52%	3.53%	4.85%
DFETX DFA Emerging Markets II Portfolio	30.43%	33.54%	6.86%	13.11%	-16.84%	2.58%	5.45%

Correlation

The correlation between DFAE and DFETX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020	0.94

The correlation between DFAE and DFETX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

Return for Risk

DFAE vs. DFETX — Risk / Return Rank

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

DFAE

DFAE Risk / Return Rank: 79
DFAE Sharpe Ratio Rank: 82
DFAE Sortino Ratio Rank: 78
DFAE Omega Ratio Rank: 81
DFAE Calmar Ratio Rank: 78
DFAE Martin Ratio Rank: 79

DFETX

DFETX Risk / Return Rank: 92
DFETX Sharpe Ratio Rank: 97
DFETX Sortino Ratio Rank: 92
DFETX Omega Ratio Rank: 91
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.

DFAE vs. DFETX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Core Equity Market ETF (DFAE) 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.

	DFAE	DFETX	Difference
Sharpe ratio: Return per unit of total volatility	2.63	3.60	-0.97
Sortino ratio: Return per unit of downside risk	3.43	4.59	-1.15
Omega ratio: Gain probability vs. loss probability	1.48	1.67	-0.19
Calmar ratio: Return relative to maximum drawdown	3.90	4.71	-0.81
Martin ratio: Return relative to average drawdown	15.10	18.99	-3.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAE vs. DFETX - Sharpe Ratio Comparison

The current DFAE Sharpe Ratio is 2.63, which is comparable to the DFETX Sharpe Ratio of 3.60. The chart below compares the historical Sharpe Ratios of DFAE 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

	DFAE	DFETX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	3.60	-0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.64	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.40	+0.23

Drawdowns

DFAE vs. DFETX - Drawdown Comparison

The maximum DFAE drawdown since its inception was -32.21%, smaller than the maximum DFETX drawdown of -62.33%. Use the drawdown chart below to compare losses from any high point for DFAE and DFETX.

Drawdown Indicators

	DFAE	DFETX	Difference
Max Drawdown Largest peak-to-trough decline	-32.21%	-62.33%	+30.12%
Max Drawdown (1Y) Largest decline over 1 year	-12.80%	-12.84%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-18.12%	-16.13%	-1.99%
Max Drawdown (5Y) Largest decline over 5 years	-32.19%	-31.80%	-0.39%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.20%	—
Current Drawdown Current decline from peak	-2.07%	-0.66%	-1.41%
Average Drawdown Average peak-to-trough decline	-10.31%	-15.67%	+5.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	3.17%	+0.13%

Volatility

DFAE vs. DFETX - Volatility Comparison

Dimensional Emerging Core Equity Market ETF (DFAE) and DFA Emerging Markets II Portfolio (DFETX) have volatilities of 8.00% and 7.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAE	DFETX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.00%	7.65%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	16.56%	14.74%	+1.82%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	16.80%	+2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	15.80%	+2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.84%	16.62%	+1.22%

DFAE vs. DFETX - Expense Ratio Comparison

DFAE has a 0.35% expense ratio, which is lower than DFETX's 0.37% expense ratio.

Dividends

DFAE vs. DFETX - Dividend Comparison

DFAE's dividend yield for the trailing twelve months is around 1.75%, less than DFETX's 6.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAE Dimensional Emerging Core Equity Market ETF	1.75%	2.20%	2.35%	2.43%	2.85%	1.63%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
DFETX DFA Emerging Markets II Portfolio	6.32%	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 DFAE and DFETX in my portfolio?

DFAE and DFETX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFAE or DFETX?

DFAE has higher volatility (8.00%) compared to DFETX (7.65%). In terms of maximum drawdown, DFAE dropped -32.21% vs DFETX's -62.33%.

Which has better risk-adjusted returns?

DFETX currently has the higher Sharpe Ratio (3.60 vs 2.63), 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.