DFAIX vs. DFLVX

Last updated Jun 4, 2026

DFAIX (DFA Short-Duration Real Return Portfolio) and DFLVX (DFA U.S. Large Cap Value Portfolio) are both mutual funds - DFAIX is a Short-Term Bond fund managed by Dimensional, while DFLVX is a Large Cap Value Equities fund managed by Dimensional. Over the past 10 years, DFAIX returned 3.33%/yr vs 11.94%/yr for DFLVX. At a 0.09 correlation, their price movements are largely independent. Both charge a 0.22% expense ratio.

Performance

DFAIX vs. DFLVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Short-Duration Real Return Portfolio (DFAIX) and DFA U.S. Large Cap Value Portfolio (DFLVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFAIX achieves a 2.57% return, which is significantly lower than DFLVX's 16.01% return. Over the past 10 years, DFAIX has underperformed DFLVX with an annualized return of 3.33%, while DFLVX has yielded a comparatively higher 11.94% annualized return.

DFAIX

• 1D: 0.00%
• 1M: 0.56%
• YTD: 2.57%
• 6M: 2.56%
• 1Y: 4.85%
• 3Y*: 5.79%
• 5Y*: 3.84%
• 10Y*: 3.33%

DFLVX

• 1D: 1.10%
• 1M: 5.70%
• YTD: 16.01%
• 6M: 17.69%
• 1Y: 33.76%
• 3Y*: 19.38%
• 5Y*: 11.03%
• 10Y*: 11.94%

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

DFAIX vs. DFLVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFAIX DFA Short-Duration Real Return Portfolio	2.57%	4.86%	6.38%	5.64%	-2.77%	5.40%	2.75%	5.63%	0.11%	1.71%
DFLVX DFA U.S. Large Cap Value Portfolio	16.01%	16.36%	12.76%	11.52%	-5.81%	30.40%	-0.58%	25.46%	-11.68%	18.50%

Correlation

The correlation between DFAIX and DFLVX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.09

Return for Risk

DFAIX vs. DFLVX — Risk / Return Rank

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

DFAIX

DFAIX Risk / Return Rank: 99
DFAIX Sharpe Ratio Rank: 99
DFAIX Sortino Ratio Rank: 99
DFAIX Omega Ratio Rank: 98
DFAIX Calmar Ratio Rank: 99
DFAIX Martin Ratio Rank: 99

DFLVX

DFLVX Risk / Return Rank: 92
DFLVX Sharpe Ratio Rank: 93
DFLVX Sortino Ratio Rank: 91
DFLVX Omega Ratio Rank: 84
DFLVX Calmar Ratio Rank: 95
DFLVX Martin Ratio Rank: 95

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.

DFAIX vs. DFLVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Short-Duration Real Return Portfolio (DFAIX) and DFA U.S. Large Cap Value Portfolio (DFLVX). 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.

	DFAIX	DFLVX	Difference
Sharpe ratio Return per unit of total volatility	4.44	3.20	+1.24
Sortino ratio Return per unit of downside risk	7.79	4.51	+3.28
Omega ratio Gain probability vs. loss probability	2.45	1.56	+0.89
Calmar ratio Return relative to maximum drawdown	10.39	6.02	+4.37
Martin ratio Return relative to average drawdown	48.50	22.08	+26.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAIX vs. DFLVX - Sharpe Ratio Comparison

The current DFAIX Sharpe Ratio is 4.44, which is higher than the DFLVX Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of DFAIX and DFLVX, 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

	DFAIX	DFLVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.44	3.20	+1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.22	0.70	+0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.31	0.65	+0.66
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.53	+0.60

Drawdowns

DFAIX vs. DFLVX - Drawdown Comparison

The maximum DFAIX drawdown since its inception was -5.63%, smaller than the maximum DFLVX drawdown of -65.65%. Use the drawdown chart below to compare losses from any high point for DFAIX and DFLVX.

Drawdown Indicators

	DFAIX	DFLVX	Difference
Max Drawdown Largest peak-to-trough decline	-5.63%	-65.65%	+60.02%
Max Drawdown (1Y) Largest decline over 1 year	-0.47%	-5.86%	+5.39%
Max Drawdown (3Y) Largest decline over 3 years	-3.12%	-16.64%	+13.52%
Max Drawdown (5Y) Largest decline over 5 years	-5.46%	-19.83%	+14.37%
Max Drawdown (10Y) Largest decline over 10 years	-5.63%	-41.79%	+36.16%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.94%	-8.48%	+7.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.10%	1.59%	-1.49%

Volatility

DFAIX vs. DFLVX - Volatility Comparison

The current volatility for DFA Short-Duration Real Return Portfolio (DFAIX) is 0.47%, while DFA U.S. Large Cap Value Portfolio (DFLVX) has a volatility of 2.86%. This indicates that DFAIX experiences smaller price fluctuations and is considered to be less risky than DFLVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAIX	DFLVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	2.86%	-2.39%
Volatility (6M) Calculated over the trailing 6-month period	0.93%	8.21%	-7.28%
Volatility (1Y) Calculated over the trailing 1-year period	1.10%	11.02%	-9.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.18%	15.88%	-12.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.55%	18.38%	-15.83%

DFAIX vs. DFLVX - Expense Ratio Comparison

Both DFAIX and DFLVX have an expense ratio of 0.22%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

DFAIX vs. DFLVX - Dividend Comparison

DFAIX's dividend yield for the trailing twelve months is around 4.54%, more than DFLVX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAIX DFA Short-Duration Real Return Portfolio	4.54%	4.65%	4.14%	3.66%	1.68%	0.98%	0.82%	2.53%	2.72%	1.71%	1.41%	1.29%
DFLVX DFA U.S. Large Cap Value Portfolio	1.45%	1.71%	1.87%	3.65%	4.56%	5.90%	1.97%	4.04%	7.83%	6.06%	3.77%	6.52%

Frequently Asked Questions

Can I hold both DFAIX and DFLVX in my portfolio?

DFAIX and DFLVX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFAIX or DFLVX?

DFLVX has higher volatility (2.86%) compared to DFAIX (0.47%). In terms of maximum drawdown, DFAIX dropped -5.63% vs DFLVX's -65.65%.

Which has better risk-adjusted returns?

DFAIX currently has the higher Sharpe Ratio (4.44 vs 3.20), 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.