DFAE vs. VEXC

Last updated Jun 5, 2026

DFAE (Dimensional Emerging Core Equity Market ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds. DFAE is actively managed, while VEXC is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. DFAE charges 0.35%/yr vs 0.07%/yr for VEXC.

Performance

DFAE vs. VEXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Core Equity Market ETF (DFAE) and Vanguard Emerging Markets Ex-China ETF (VEXC). 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 higher than VEXC's 20.48% return.

DFAE

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

VEXC

• 1D: 0.23%
• 1M: 3.69%
• YTD: 20.48%
• 6M: 23.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFAE vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
DFAE Dimensional Emerging Core Equity Market ETF	25.28%	2.69%
VEXC Vanguard Emerging Markets Ex-China ETF	20.48%	4.80%

Correlation

The correlation between DFAE and VEXC 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 (All Time) Calculated using the full available price history since Oct 3, 2025	0.92

Return for Risk

DFAE vs. VEXC — 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

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. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Core Equity Market ETF (DFAE) and Vanguard Emerging Markets Ex-China ETF (VEXC). 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	VEXC	Difference
Sharpe ratio: Return per unit of total volatility	2.63	—	—
Sortino ratio: Return per unit of downside risk	3.43	—	—
Omega ratio: Gain probability vs. loss probability	1.48	—	—
Calmar ratio: Return relative to maximum drawdown	3.90	—	—
Martin ratio: Return relative to average drawdown	15.10	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DFAE	VEXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	2.23	-1.60

Drawdowns

DFAE vs. VEXC - Drawdown Comparison

The maximum DFAE drawdown since its inception was -32.21%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for DFAE and VEXC.

Drawdown Indicators

	DFAE	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-32.21%	-12.42%	-19.79%
Max Drawdown (1Y) Largest decline over 1 year	-12.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.19%	—	—
Current Drawdown Current decline from peak	-2.07%	-0.97%	-1.10%
Average Drawdown Average peak-to-trough decline	-10.31%	-2.22%	-8.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	—	—

Volatility

Volatility by Period

	DFAE	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.56%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	18.84%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	18.84%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.84%	18.84%	-1.00%

DFAE vs. VEXC - Expense Ratio Comparison

DFAE has a 0.35% expense ratio, which is higher than VEXC's 0.07% expense ratio.

Dividends

DFAE vs. VEXC - Dividend Comparison

DFAE's dividend yield for the trailing twelve months is around 1.75%, more than VEXC's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAE Dimensional Emerging Core Equity Market ETF	1.75%	2.20%	2.35%	2.43%	2.85%	1.63%	0.01%
VEXC Vanguard Emerging Markets Ex-China ETF	0.74%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFAE and VEXC in my portfolio?

With a correlation of 0.92, DFAE and VEXC 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 ETF is better, DFAE or VEXC?

On fees, VEXC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFAE or VEXC?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.35% for DFAE.

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

DFAE has the higher dividend yield at 1.75%, compared with 0.74% for VEXC.

What is the main difference between DFAE and VEXC?

They also come from different issuers: Dimensional and Vanguard. Their fees differ too: 0.35% for DFAE and 0.07% for VEXC.