DFAI vs. DFALX

Last updated Aug 2, 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 10.32%/yr vs 10.45%/yr for DFALX. Their 0.99 correlation means they have historically moved very closely together. 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

In the year-to-date period, DFAI achieves a 12.02% return, which is significantly lower than DFALX's 13.26% return.

DFAI

• 1D: -0.64%
• 1M: 1.25%
• 6M: 6.62%
• YTD: 12.02%
• 1Y: 26.71%
• 3Y*: 17.83%
• 5Y*: 10.32%
• 10Y*: —
• ALL TIME*: 12.23%

DFALX

• 1D: 2.43%
• 1M: 2.32%
• 6M: 8.00%
• YTD: 13.26%
• 1Y: 28.39%
• 3Y*: 17.61%
• 5Y*: 10.45%
• 10Y*: 10.22%
• ALL TIME*: 6.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFAI Dimensional International Core Equity Market ETF	$73.27M	$69.05M	$61.26M
DFALX DFA Large Cap International Portfolio	$0.00	$0.00	$0.00

DFAI vs. DFALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	12.02%	34.04%	4.68%	17.60%	-12.95%	13.86%	5.34%
DFALX DFA Large Cap International Portfolio	13.26%	33.60%	4.55%	17.88%	-13.04%	12.79%	5.93%

Correlation

The correlation between DFAI and DFALX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (5Y) Shows whether the relationship held over a longer 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 historical risk-adjusted metric ranks over the past 12 months.

DFAI

DFAI Risk / Return Rank: 77
DFAI Sharpe Ratio Rank: 80
DFAI Sortino Ratio Rank: 79
DFAI Omega Ratio Rank: 78
DFAI Calmar Ratio Rank: 71
DFAI Martin Ratio Rank: 77

DFALX

DFALX Risk / Return Rank: 80
DFALX Sharpe Ratio Rank: 80
DFALX Sortino Ratio Rank: 78
DFALX Omega Ratio Rank: 78
DFALX Calmar Ratio Rank: 80
DFALX Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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	1.82	1.89	-0.06
Sortino ratio: Return per unit of downside risk	2.56	2.64	-0.08
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	2.44	2.58	-0.14
Martin ratio: Return relative to average drawdown	9.59	10.17	-0.57

DFAI vs. DFALX - Sharpe Ratio Comparison

The current DFAI Sharpe Ratio is 1.82, which is comparable to the DFALX Sharpe Ratio of 1.89. 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	-0.64%	0.00%	-0.64%
Average Drawdown Average peak-to-trough decline	-5.01%	-11.96%	+6.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.71%	+0.07%

Volatility

DFAI vs. DFALX - Volatility Comparison

Dimensional International Core Equity Market ETF (DFAI) and DFA Large Cap International Portfolio (DFALX) have volatilities of 4.24% and 4.22%, 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	4.24%	4.22%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	12.66%	12.39%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	14.65%	14.70%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	15.76%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	15.92%	-0.23%

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 2.30%, less than DFALX's 2.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAI Dimensional International Core Equity Market ETF	2.30%	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	2.78%	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?

DFAI has higher volatility (4.24%) compared to DFALX (4.22%). In terms of maximum drawdown, DFAI dropped -27.44% vs DFALX's -59.76%.

Which has better risk-adjusted returns?

DFALX currently has the higher Sharpe Ratio (1.89 vs 1.82), 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.