DFAI vs. JIRE

Last updated Jun 5, 2026

DFAI (Dimensional International Core Equity Market ETF) and JIRE (JPMorgan International Research Enhanced Equity ETF) are both exchange-traded funds - DFAI is a Global Equities fund actively managed by Dimensional, while JIRE is a Foreign Large Cap Equities fund actively managed by JPMorgan. Both are actively managed. Over the past 3 years, DFAI returned 18.70%/yr vs 16.65%/yr for JIRE. With a 0.98 correlation, they move nearly in lockstep. DFAI charges 0.18%/yr vs 0.24%/yr for JIRE.

Performance

DFAI vs. JIRE - Performance Comparison

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

Returns By Period

In the year-to-date period, DFAI achieves a 10.08% return, which is significantly higher than JIRE's 8.68% return.

DFAI

• 1D: 0.84%
• 1M: 2.35%
• YTD: 10.08%
• 6M: 12.41%
• 1Y: 25.22%
• 3Y*: 18.70%
• 5Y*: 9.55%
• 10Y*: —

JIRE

• 1D: 0.89%
• 1M: 2.64%
• YTD: 8.68%
• 6M: 10.86%
• 1Y: 20.36%
• 3Y*: 16.65%
• 5Y*: —
• 10Y*: —

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

DFAI vs. JIRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFAI Dimensional International Core Equity Market ETF	10.08%	34.04%	4.68%	17.60%	3.74%
JIRE JPMorgan International Research Enhanced Equity ETF	8.68%	31.83%	3.15%	20.00%	5.73%

Correlation

The correlation between DFAI and JIRE 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	0.97
Correlation (All Time) Calculated using the full available price history since Jun 14, 2022	0.98

The correlation between DFAI and JIRE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

DFAI vs. JIRE - Sectors Allocation Comparison

Sectors	DFAI	JIRE
Financial Services	22.5%	25.9%
Industrials	19.5%	18.8%
Technology	9.3%	11.3%
Basic Materials	8.8%	5.3%
Healthcare	8.8%	10.4%
Consumer Cyclical	8.6%	8.0%
Energy	6.8%	3.7%
Consumer Defensive	6.4%	6.8%
Utilities	4.0%	4.7%
Communication Services	3.7%	4.1%
Real Estate	1.5%	1.2%

Return for Risk

DFAI vs. JIRE — Risk / Return Rank

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

DFAI

DFAI Risk / Return Rank: 52
DFAI Sharpe Ratio Rank: 54
DFAI Sortino Ratio Rank: 53
DFAI Omega Ratio Rank: 53
DFAI Calmar Ratio Rank: 47
DFAI Martin Ratio Rank: 54

JIRE

JIRE Risk / Return Rank: 38
JIRE Sharpe Ratio Rank: 37
JIRE Sortino Ratio Rank: 37
JIRE Omega Ratio Rank: 37
JIRE Calmar Ratio Rank: 36
JIRE Martin Ratio Rank: 40

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. JIRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Core Equity Market ETF (DFAI) and JPMorgan International Research Enhanced Equity ETF (JIRE). 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	JIRE	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.32	+0.49
Sortino ratio: Return per unit of downside risk	2.54	1.91	+0.63
Omega ratio: Gain probability vs. loss probability	1.32	1.24	+0.09
Calmar ratio: Return relative to maximum drawdown	2.31	1.74	+0.58
Martin ratio: Return relative to average drawdown	9.08	6.31	+2.77
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. JIRE - Sharpe Ratio Comparison

The current DFAI Sharpe Ratio is 1.80, which is higher than the JIRE Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of DFAI and JIRE, 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	JIRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	1.32	+0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	1.06	-0.26

Drawdowns

DFAI vs. JIRE - Drawdown Comparison

The maximum DFAI drawdown since its inception was -27.44%, which is greater than JIRE's maximum drawdown of -16.11%. Use the drawdown chart below to compare losses from any high point for DFAI and JIRE.

Drawdown Indicators

	DFAI	JIRE	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-16.11%	-11.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.95%	-11.77%	+0.82%
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	-13.61%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-27.44%	—	—
Current Drawdown Current decline from peak	-0.78%	-1.66%	+0.88%
Average Drawdown Average peak-to-trough decline	-5.12%	-3.03%	-2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	3.24%	-0.45%

Volatility

DFAI vs. JIRE - Volatility Comparison

The current volatility for Dimensional International Core Equity Market ETF (DFAI) is 4.39%, while JPMorgan International Research Enhanced Equity ETF (JIRE) has a volatility of 4.99%. This indicates that DFAI experiences smaller price fluctuations and is considered to be less risky than JIRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAI	JIRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	4.99%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	11.71%	12.82%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	15.55%	-1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.92%	16.28%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	16.28%	-0.58%

DFAI vs. JIRE - Expense Ratio Comparison

DFAI has a 0.18% expense ratio, which is lower than JIRE's 0.24% 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. JIRE - Dividend Comparison

DFAI's dividend yield for the trailing twelve months is around 2.24%, less than JIRE's 2.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	2.24%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%
JIRE JPMorgan International Research Enhanced Equity ETF	2.75%	2.99%	3.03%	2.74%	2.62%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFAI and JIRE in my portfolio?

With a correlation of 0.98, DFAI and JIRE 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 JIRE?

JIRE has higher volatility (4.99%) compared to DFAI (4.39%). In terms of maximum drawdown, DFAI dropped -27.44% vs JIRE's -16.11%.

Which ETF is better, DFAI or JIRE?

On 3-year performance, DFAI leads with 18.70% vs 16.65% for JIRE. On fees, DFAI is cheaper at 0.18% per year. On volatility, DFAI has been the lower-risk option at 4.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAI or JIRE?

Over the 3-year period, DFAI has performed better with a 18.70% return vs 16.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAI or JIRE?

DFAI is cheaper with a 0.18% expense ratio, compared with 0.24% for JIRE.

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

JIRE has the higher dividend yield at 2.75%, compared with 2.24% for DFAI.

What is the main difference between DFAI and JIRE?

DFAI is categorized as Global Equities, while JIRE is Foreign Large Cap Equities. They also come from different issuers: Dimensional and JPMorgan. Their fees differ too: 0.18% for DFAI and 0.24% for JIRE.

Which has better risk-adjusted returns?

DFAI currently has the higher Sharpe Ratio (1.80 vs 1.32), 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.