DFAI vs. DFIV

Last updated Jun 4, 2026

DFAI (Dimensional International Core Equity Market ETF) and DFIV (Dimensional International Value ETF) are both exchange-traded funds - DFAI is a Global Equities fund actively managed by Dimensional, while DFIV is a Foreign Large Cap Equities fund actively managed by Dimensional. Both are actively managed. Over the past 3 years, DFAI returned 18.12%/yr vs 23.90%/yr for DFIV. With a 0.95 correlation, they move nearly in lockstep. DFAI charges 0.18%/yr vs 0.27%/yr for DFIV.

Performance

DFAI vs. DFIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional International Core Equity Market ETF (DFAI) and Dimensional International Value ETF (DFIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFAI achieves a 9.16% return, which is significantly lower than DFIV's 11.54% return.

DFAI

• 1D: -0.84%
• 1M: 2.67%
• YTD: 9.16%
• 6M: 11.79%
• 1Y: 24.65%
• 3Y*: 18.12%
• 5Y*: 9.36%
• 10Y*: —

DFIV

• 1D: -0.70%
• 1M: 2.57%
• YTD: 11.54%
• 6M: 15.41%
• 1Y: 34.88%
• 3Y*: 23.90%
• 5Y*: —
• 10Y*: —

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

DFAI vs. DFIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFAI Dimensional International Core Equity Market ETF	9.16%	34.04%	4.68%	17.60%	-12.95%	-1.29%
DFIV Dimensional International Value ETF	11.54%	45.36%	7.26%	17.75%	-3.70%	0.08%

Correlation

The correlation between DFAI and DFIV is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 14, 2021	0.95

The correlation between DFAI and DFIV has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

DFAI vs. DFIV - Sectors Allocation Comparison

Sectors	DFAI	DFIV
Financial Services	22.5%	32.4%
Industrials	19.5%	9.6%
Technology	9.3%	2.8%
Basic Materials	8.8%	10.9%
Healthcare	8.8%	4.9%
Consumer Cyclical	8.6%	9.6%
Energy	6.8%	16.4%
Consumer Defensive	6.4%	4.9%
Utilities	4.0%	2.5%
Communication Services	3.7%	4.2%
Real Estate	1.5%	1.8%

Return for Risk

DFAI vs. DFIV — Risk / Return Rank

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

DFAI

DFAI Risk / Return Rank: 49
DFAI Sharpe Ratio Rank: 50
DFAI Sortino Ratio Rank: 50
DFAI Omega Ratio Rank: 50
DFAI Calmar Ratio Rank: 45
DFAI Martin Ratio Rank: 52

DFIV

DFIV Risk / Return Rank: 75
DFIV Sharpe Ratio Rank: 77
DFIV Sortino Ratio Rank: 76
DFIV Omega Ratio Rank: 75
DFIV Calmar Ratio Rank: 71
DFIV Martin Ratio Rank: 73

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. DFIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Core Equity Market ETF (DFAI) and Dimensional International Value ETF (DFIV). 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.

	DFAI	DFIV	Difference
Sharpe ratio: Return per unit of total volatility	1.76	2.56	-0.80
Sortino ratio: Return per unit of downside risk	2.49	3.50	-1.01
Omega ratio: Gain probability vs. loss probability	1.32	1.46	-0.14
Calmar ratio: Return relative to maximum drawdown	2.26	3.63	-1.37
Martin ratio: Return relative to average drawdown	8.87	14.02	-5.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAI vs. DFIV - Sharpe Ratio Comparison

The current DFAI Sharpe Ratio is 1.76, which is lower than the DFIV Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of DFAI and DFIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFAI	DFIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	2.56	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.94	-0.15

Drawdowns

DFAI vs. DFIV - Drawdown Comparison

The maximum DFAI drawdown since its inception was -27.44%, which is greater than DFIV's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for DFAI and DFIV.

Drawdown Indicators

	DFAI	DFIV	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-25.42%	-2.02%
Max Drawdown (1Y) Largest decline over 1 year	-10.95%	-9.66%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	-14.72%	+1.47%
Max Drawdown (5Y) Largest decline over 5 years	-27.44%	—	—
Current Drawdown Current decline from peak	-1.61%	-1.02%	-0.59%
Average Drawdown Average peak-to-trough decline	-5.12%	-4.48%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	2.49%	+0.30%

Volatility

DFAI vs. DFIV - Volatility Comparison

Dimensional International Core Equity Market ETF (DFAI) has a higher volatility of 4.45% compared to Dimensional International Value ETF (DFIV) at 3.89%. This indicates that DFAI's price experiences larger fluctuations and is considered to be riskier than DFIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAI	DFIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	3.89%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	11.68%	10.99%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	14.08%	13.69%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.92%	16.63%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	16.63%	-0.93%

DFAI vs. DFIV - Expense Ratio Comparison

DFAI has a 0.18% expense ratio, which is lower than DFIV's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFAI vs. DFIV - Dividend Comparison

DFAI's dividend yield for the trailing twelve months is around 2.26%, less than DFIV's 2.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	2.26%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%
DFIV Dimensional International Value ETF	2.55%	2.92%	3.88%	3.93%	3.84%	2.30%	0.00%

Frequently Asked Questions

Can I hold both DFAI and DFIV in my portfolio?

With a correlation of 0.95, DFAI and DFIV 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 DFIV?

DFAI has higher volatility (4.45%) compared to DFIV (3.89%). In terms of maximum drawdown, DFAI dropped -27.44% vs DFIV's -25.42%.

Which ETF is better, DFAI or DFIV?

On 3-year performance, DFIV leads with 23.90% vs 18.12% for DFAI. On fees, DFAI is cheaper at 0.18% per year. On volatility, DFIV has been the lower-risk option at 3.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAI or DFIV?

Over the 3-year period, DFIV has performed better with a 23.90% return vs 18.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAI or DFIV?

DFAI is cheaper with a 0.18% expense ratio, compared with 0.27% for DFIV.

Which ETF pays a higher dividend yield, DFAI or DFIV?

DFIV has the higher dividend yield at 2.55%, compared with 2.26% for DFAI.

What is the main difference between DFAI and DFIV?

DFAI is categorized as Global Equities, while DFIV is Foreign Large Cap Equities. Their fees differ too: 0.18% for DFAI and 0.27% for DFIV.

Which has better risk-adjusted returns?

DFIV currently has the higher Sharpe Ratio (2.56 vs 1.76), 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.