DFAI vs. DFALX

Last updated Jun 23, 2026

DFAI (Dimensional International Core Equity Market ETF) and DFALX (DFA Large Cap International Portfolio) are both Foreign Large Cap Equities funds from Dimensional. Over the past 5 years, DFAI returned 10.16%/yr vs 10.27%/yr for DFALX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.18% expense ratio.

Performance

DFAI vs. DFALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional International Core Equity Market ETF (DFAI) and DFA Large Cap International Portfolio (DFALX). 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 DFAI having a 10.63% return and DFALX slightly higher at 10.89%.

DFAI

• 1D: 0.24%
• 1M: 1.23%
• YTD: 10.63%
• 6M: 10.81%
• 1Y: 27.64%
• 3Y*: 18.90%
• 5Y*: 10.16%
• 10Y*: —

DFALX

• 1D: 0.52%
• 1M: 1.03%
• YTD: 10.89%
• 6M: 11.18%
• 1Y: 27.82%
• 3Y*: 17.55%
• 5Y*: 10.27%
• 10Y*: 10.17%

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

DFAI vs. DFALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	10.63%	34.04%	4.68%	17.60%	-12.95%	13.86%	5.34%
DFALX DFA Large Cap International Portfolio	10.89%	33.60%	4.55%	17.88%	-13.04%	12.79%	5.93%

Correlation

The correlation between DFAI and DFALX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020	0.99

The correlation between DFAI and DFALX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

DFAI vs. DFALX — Risk / Return Rank

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

DFAI

DFAI Risk / Return Rank: 57
DFAI Sharpe Ratio Rank: 59
DFAI Sortino Ratio Rank: 58
DFAI Omega Ratio Rank: 58
DFAI Calmar Ratio Rank: 53
DFAI Martin Ratio Rank: 58

DFALX

DFALX Risk / Return Rank: 47
DFALX Sharpe Ratio Rank: 47
DFALX Sortino Ratio Rank: 46
DFALX Omega Ratio Rank: 45
DFALX Calmar Ratio Rank: 48
DFALX Martin Ratio Rank: 51

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.

DFAI vs. DFALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Core Equity Market ETF (DFAI) and DFA Large Cap International Portfolio (DFALX). 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.

	DFAI	DFALX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.87	+0.04
Sortino ratio: Return per unit of downside risk	2.68	2.61	+0.06
Omega ratio: Gain probability vs. loss probability	1.35	1.34	+0.01
Calmar ratio: Return relative to maximum drawdown	2.54	2.54	0.00
Martin ratio: Return relative to average drawdown	9.89	9.86	+0.03

DFAI vs. DFALX - Sharpe Ratio Comparison

The current DFAI Sharpe Ratio is 1.92, which is comparable to the DFALX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of DFAI and DFALX, 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

DFAI vs. DFALX - Drawdown Comparison

The maximum DFAI drawdown since its inception was -27.44%, smaller than the maximum DFALX drawdown of -59.76%. Use the drawdown chart below to compare losses from any high point for DFAI and DFALX.

Drawdown Indicators

	DFAI	DFALX	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-59.76%	+32.32%
Max Drawdown (1Y) Largest decline over 1 year	-10.95%	-10.70%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	-13.11%	-0.14%
Max Drawdown (5Y) Largest decline over 5 years	-27.44%	-27.52%	+0.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.58%	—
Current Drawdown Current decline from peak	-0.28%	-0.31%	+0.03%
Average Drawdown Average peak-to-trough decline	-5.09%	-11.99%	+6.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	2.74%	+0.06%

Volatility

DFAI vs. DFALX - Volatility Comparison

Dimensional International Core Equity Market ETF (DFAI) and DFA Large Cap International Portfolio (DFALX) have volatilities of 4.53% and 4.63%, 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

	DFAI	DFALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	4.63%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	12.26%	11.99%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	14.51%	14.50%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	15.74%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.72%	16.17%	-0.45%

DFAI vs. DFALX - Expense Ratio Comparison

Both DFAI and DFALX have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

DFAI vs. DFALX - Dividend Comparison

DFAI's dividend yield for the trailing twelve months is around 2.23%, less than DFALX's 2.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAI Dimensional International Core Equity Market ETF	2.23%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%
DFALX DFA Large Cap International Portfolio	2.73%	2.89%	3.18%	3.24%	2.86%	3.00%	1.88%	2.88%	3.07%	2.55%	2.89%	2.94%

Frequently Asked Questions

Can I hold both DFAI and DFALX in my portfolio?

With a correlation of 0.98, DFAI and DFALX 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, DFAI or DFALX?

DFALX has higher volatility (4.63%) compared to DFAI (4.53%). In terms of maximum drawdown, DFAI dropped -27.44% vs DFALX's -59.76%.

Which has better risk-adjusted returns?

DFAI currently has the higher Sharpe Ratio (1.92 vs 1.87), 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.