DFAE vs. EVLU

Last updated Jul 17, 2026

DFAE (Dimensional Emerging Core Equity Market ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds. DFAE is actively managed, while EVLU is passively managed. Over the past year, DFAE returned 31.49% vs 48.68% for EVLU. Their correlation of 0.93 suggests significant overlap in exposure. DFAE charges 0.29%/yr vs 0.35%/yr for EVLU.

Performance

DFAE vs. EVLU - Performance Comparison

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

Returns By Period

In the year-to-date period, DFAE achieves a 17.20% return, which is significantly lower than EVLU's 25.81% return.

DFAE

• 1D: -1.84%
• 1M: -6.29%
• 6M: 10.90%
• YTD: 17.20%
• 1Y: 31.49%
• 3Y*: 18.64%
• 5Y*: 8.14%
• 10Y*: —

EVLU

• 1D: -1.38%
• 1M: -4.45%
• 6M: 18.98%
• YTD: 25.81%
• 1Y: 48.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFAE vs. EVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFAE Dimensional Emerging Core Equity Market ETF	17.20%	31.48%	-0.35%
EVLU iShares MSCI Emerging Markets Value Factor ETF	25.81%	38.54%	1.21%

Correlation

The correlation between DFAE and EVLU is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.93

The correlation between DFAE and EVLU has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

DFAE vs. EVLU — Risk / Return Rank

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

DFAE

DFAE Risk / Return Rank: 54
DFAE Sharpe Ratio Rank: 50
DFAE Sortino Ratio Rank: 45
DFAE Omega Ratio Rank: 54
DFAE Calmar Ratio Rank: 62
DFAE Martin Ratio Rank: 59

EVLU

EVLU Risk / Return Rank: 85
EVLU Sharpe Ratio Rank: 90
EVLU Sortino Ratio Rank: 85
EVLU Omega Ratio Rank: 87
EVLU Calmar Ratio Rank: 86
EVLU Martin Ratio Rank: 80

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. EVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Core Equity Market ETF (DFAE) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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.

	DFAE	EVLU	Difference
Sharpe ratio: Return per unit of total volatility	1.41	2.37	-0.96
Sortino ratio: Return per unit of downside risk	1.90	3.06	-1.16
Omega ratio: Gain probability vs. loss probability	1.27	1.42	-0.15
Calmar ratio: Return relative to maximum drawdown	2.47	3.79	-1.32
Martin ratio: Return relative to average drawdown	8.27	11.98	-3.71

DFAE vs. EVLU - Sharpe Ratio Comparison

The current DFAE Sharpe Ratio is 1.41, which is lower than the EVLU Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of DFAE and EVLU, 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

DFAE vs. EVLU - Drawdown Comparison

The maximum DFAE drawdown since its inception was -32.21%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for DFAE and EVLU.

Drawdown Indicators

	DFAE	EVLU	Difference
Max Drawdown Largest peak-to-trough decline	-32.21%	-17.17%	-15.04%
Max Drawdown (1Y) Largest decline over 1 year	-12.80%	-12.90%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-18.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.70%	—	—
Current Drawdown Current decline from peak	-9.15%	-8.25%	-0.90%
Average Drawdown Average peak-to-trough decline	-10.21%	-3.64%	-6.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	4.08%	-0.26%

Volatility

DFAE vs. EVLU - Volatility Comparison

Dimensional Emerging Core Equity Market ETF (DFAE) has a higher volatility of 9.18% compared to iShares MSCI Emerging Markets Value Factor ETF (EVLU) at 6.62%. This indicates that DFAE's price experiences larger fluctuations and is considered to be riskier than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAE	EVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.18%	6.62%	+2.56%
Volatility (6M) Calculated over the trailing 6-month period	20.54%	18.28%	+2.26%
Volatility (1Y) Calculated over the trailing 1-year period	22.41%	20.63%	+1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.60%	20.41%	-1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	20.41%	-1.97%

DFAE vs. EVLU - Expense Ratio Comparison

DFAE has a 0.29% expense ratio, which is lower than EVLU's 0.35% expense ratio.

Dividends

DFAE vs. EVLU - Dividend Comparison

DFAE's dividend yield for the trailing twelve months is around 1.85%, less than EVLU's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAE Dimensional Emerging Core Equity Market ETF	1.85%	2.20%	2.35%	2.43%	2.85%	1.63%	0.01%
EVLU iShares MSCI Emerging Markets Value Factor ETF	3.87%	5.20%	1.03%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFAE and EVLU in my portfolio?

With a correlation of 0.92, DFAE and EVLU 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, DFAE or EVLU?

DFAE has higher volatility (9.18%) compared to EVLU (6.62%). In terms of maximum drawdown, DFAE dropped -32.21% vs EVLU's -17.17%.

Which ETF is better, DFAE or EVLU?

On 1-year performance, EVLU leads with 48.68% vs 31.49% for DFAE. On fees, DFAE is cheaper at 0.29% per year. On volatility, EVLU has been the lower-risk option at 6.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAE or EVLU?

Over the 1-year period, EVLU has performed better with a 48.68% return vs 31.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAE or EVLU?

DFAE is cheaper with a 0.29% expense ratio, compared with 0.35% for EVLU.

Which ETF pays a higher dividend yield, DFAE or EVLU?

EVLU has the higher dividend yield at 3.87%, compared with 1.85% for DFAE.

What is the main difference between DFAE and EVLU?

They also come from different issuers: Dimensional and iShares. Their fees differ too: 0.29% for DFAE and 0.35% for EVLU.

Which has better risk-adjusted returns?

EVLU currently has the higher Sharpe Ratio (2.37 vs 1.41), 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.