DFAE vs. DFSE

Last updated Apr 1, 2026

Compare and contrast key facts about Dimensional Emerging Core Equity Market ETF (DFAE) and Dimensional Emerging Markets Sustainability Core 1 ETF (DFSE).

DFAE and DFSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFAE is an actively managed fund by Dimensional. It was launched on Dec 2, 2020. DFSE is an actively managed fund by Dimensional. It was launched on Nov 1, 2022.

Performance

DFAE vs. DFSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Core Equity Market ETF (DFAE) and Dimensional Emerging Markets Sustainability Core 1 ETF (DFSE). The values are adjusted to include any dividend payments, if applicable.

DFAE vs. DFSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFAE Dimensional Emerging Core Equity Market ETF	4.12%	31.48%	7.68%	12.63%	11.00%
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF	2.27%	28.22%	6.90%	14.66%	11.62%

Returns By Period

In the year-to-date period, DFAE achieves a 4.12% return, which is significantly higher than DFSE's 2.27% return.

DFAE

• 1D: 3.52%
• 1M: -8.86%
• YTD: 4.12%
• 6M: 8.25%
• 1Y: 33.86%
• 3Y*: 16.49%
• 5Y*: 6.10%
• 10Y*: —

DFSE

• 1D: 3.27%
• 1M: -8.75%
• YTD: 2.27%
• 6M: 3.96%
• 1Y: 28.74%
• 3Y*: 14.83%
• 5Y*: —
• 10Y*: —

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

DFAE vs. DFSE - Expense Ratio Comparison

DFAE has a 0.35% expense ratio, which is lower than DFSE's 0.41% expense ratio.

DFSE

Dimensional Emerging Markets Sustainability Core 1 ETF

DFAE

Dimensional Emerging Core Equity Market ETF

Return for Risk

DFAE vs. DFSE — Risk / Return Rank

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

DFAE

DFAE Risk / Return Rank: 87
DFAE Sharpe Ratio Rank: 87
DFAE Sortino Ratio Rank: 88
DFAE Omega Ratio Rank: 88
DFAE Calmar Ratio Rank: 87
DFAE Martin Ratio Rank: 87

DFSE

DFSE Risk / Return Rank: 78
DFSE Sharpe Ratio Rank: 80
DFSE Sortino Ratio Rank: 79
DFSE Omega Ratio Rank: 78
DFSE Calmar Ratio Rank: 79
DFSE Martin Ratio Rank: 76

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. DFSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Core Equity Market ETF (DFAE) and Dimensional Emerging Markets Sustainability Core 1 ETF (DFSE). 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	DFSE	Difference
Sharpe ratio Return per unit of total volatility	1.76	1.50	+0.25
Sortino ratio Return per unit of downside risk	2.35	2.06	+0.29
Omega ratio Gain probability vs. loss probability	1.35	1.30	+0.05
Calmar ratio Return relative to maximum drawdown	2.61	2.16	+0.44
Martin ratio Return relative to average drawdown	10.09	8.14	+1.95
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. DFSE - Sharpe Ratio Comparison

The current DFAE Sharpe Ratio is 1.76, which is comparable to the DFSE Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of DFAE and DFSE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DFAE	DFSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.50	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	1.10	-0.66

Correlation

The correlation between DFAE and DFSE is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DFAE vs. DFSE - Dividend Comparison

DFAE's dividend yield for the trailing twelve months is around 2.11%, less than DFSE's 2.18% yield.

	TTM	2025	2024	2023	2022	2021	2020
DFAE Dimensional Emerging Core Equity Market ETF	2.11%	2.20%	2.35%	2.43%	2.85%	1.63%	0.01%
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF	2.18%	2.26%	2.06%	2.06%	0.36%	0.00%	0.00%

Drawdowns

DFAE vs. DFSE - Drawdown Comparison

The maximum DFAE drawdown since its inception was -32.21%, which is greater than DFSE's maximum drawdown of -19.77%. Use the drawdown chart below to compare losses from any high point for DFAE and DFSE.

Drawdown Indicators

	DFAE	DFSE	Difference
Max Drawdown Largest peak-to-trough decline	-32.21%	-19.77%	-12.44%
Max Drawdown (1Y) Largest decline over 1 year	-12.80%	-12.88%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-32.21%	—	—
Current Drawdown Current decline from peak	-9.73%	-10.03%	+0.30%
Average Drawdown Average peak-to-trough decline	-10.59%	-4.07%	-6.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.42%	-0.11%

Volatility

DFAE vs. DFSE - Volatility Comparison

Dimensional Emerging Core Equity Market ETF (DFAE) and Dimensional Emerging Markets Sustainability Core 1 ETF (DFSE) have volatilities of 10.23% and 9.85%, 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	DFSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.23%	9.85%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	14.31%	13.91%	+0.40%
Volatility (1Y) Calculated over the trailing 1-year period	19.37%	19.20%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.36%	17.09%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	17.09%	+0.41%