DFAE vs. VEXC

Last updated Jul 17, 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 0.29%/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

The year-to-date returns for both investments are quite close, with DFAE having a 17.20% return and VEXC slightly higher at 17.93%.

DFAE

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

VEXC

• 1D: -1.42%
• 1M: -2.43%
• 6M: 13.21%
• YTD: 17.93%
• 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	17.20%	3.11%
VEXC Vanguard Emerging Markets Ex-China ETF	17.93%	4.50%

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 2, 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: 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

VEXC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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	VEXC	Difference
Sharpe ratio: Return per unit of total volatility	1.41	—	—
Sortino ratio: Return per unit of downside risk	1.90	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.47	—	—
Martin ratio: Return relative to average drawdown	8.27	—	—

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	-29.70%	—	—
Current Drawdown Current decline from peak	-9.15%	-5.52%	-3.63%
Average Drawdown Average peak-to-trough decline	-10.21%	-2.37%	-7.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	—	—

Volatility

Volatility by Period

	DFAE	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.41%	20.12%	+2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.60%	20.12%	-1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	20.12%	-1.68%

DFAE vs. VEXC - Expense Ratio Comparison

DFAE has a 0.29% 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 1.85%, more than VEXC's 1.46% 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%
VEXC Vanguard Emerging Markets Ex-China ETF	1.46%	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 0.29% for DFAE.

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

DFAE has the higher dividend yield at 1.85%, compared with 1.46% for VEXC.

What is the main difference between DFAE and VEXC?

They also come from different issuers: Dimensional and Vanguard. Their fees differ too: 0.29% for DFAE and 0.07% for VEXC.