DFALX vs. DFIEX

Last updated Jun 24, 2026

DFALX (DFA Large Cap International Portfolio) and DFIEX (DFA International Core Equity Portfolio I) are both Foreign Large Cap Equities funds from Dimensional. Over the past 10 years, DFALX returned 10.73%/yr vs 10.71%/yr for DFIEX. With a 0.99 correlation, they move nearly in lockstep. DFALX charges 0.18%/yr vs 0.24%/yr for DFIEX.

Performance

DFALX vs. DFIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Large Cap International Portfolio (DFALX) and DFA International Core Equity Portfolio I (DFIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DFALX having a 10.98% return and DFIEX slightly lower at 10.75%. Both investments have delivered pretty close results over the past 10 years, with DFALX having a 10.73% annualized return and DFIEX not far behind at 10.71%.

DFALX

• 1D: 0.08%
• 1M: 1.11%
• YTD: 10.98%
• 6M: 10.37%
• 1Y: 27.10%
• 3Y*: 18.86%
• 5Y*: 10.12%
• 10Y*: 10.73%

DFIEX

• 1D: 0.09%
• 1M: 0.72%
• YTD: 10.75%
• 6M: 10.21%
• 1Y: 27.85%
• 3Y*: 19.70%
• 5Y*: 10.12%
• 10Y*: 10.71%

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

DFALX vs. DFIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFALX DFA Large Cap International Portfolio	10.98%	33.60%	4.55%	17.88%	-13.04%	12.79%	8.13%	22.05%	-14.15%	25.35%
DFIEX DFA International Core Equity Portfolio I	10.75%	36.18%	3.99%	17.50%	-13.51%	13.85%	7.73%	21.70%	-17.41%	28.04%

Correlation

The correlation between DFALX and DFIEX is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 16, 2005	0.99

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

Return for Risk

DFALX vs. DFIEX — Risk / Return Rank

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

DFALX

DFALX Risk / Return Rank: 50
DFALX Sharpe Ratio Rank: 51
DFALX Sortino Ratio Rank: 48
DFALX Omega Ratio Rank: 48
DFALX Calmar Ratio Rank: 52
DFALX Martin Ratio Rank: 53

DFIEX

DFIEX Risk / Return Rank: 53
DFIEX Sharpe Ratio Rank: 55
DFIEX Sortino Ratio Rank: 53
DFIEX Omega Ratio Rank: 53
DFIEX Calmar Ratio Rank: 51
DFIEX Martin Ratio Rank: 53

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.

DFALX vs. DFIEX - Risk-Adjusted Trends Comparison

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

	DFALX	DFIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.03	-0.08
Sortino ratio: Return per unit of downside risk	2.70	2.81	-0.10
Omega ratio: Gain probability vs. loss probability	1.35	1.37	-0.02
Calmar ratio: Return relative to maximum drawdown	2.63	2.62	+0.02
Martin ratio: Return relative to average drawdown	10.23	10.16	+0.07

DFALX vs. DFIEX - Sharpe Ratio Comparison

The current DFALX Sharpe Ratio is 1.95, which is comparable to the DFIEX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of DFALX and DFIEX, 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

DFALX vs. DFIEX - Drawdown Comparison

The maximum DFALX drawdown since its inception was -59.76%, roughly equal to the maximum DFIEX drawdown of -62.22%. Use the drawdown chart below to compare losses from any high point for DFALX and DFIEX.

Drawdown Indicators

	DFALX	DFIEX	Difference
Max Drawdown Largest peak-to-trough decline	-59.76%	-62.22%	+2.46%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	-11.01%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-13.11%	-12.81%	-0.30%
Max Drawdown (5Y) Largest decline over 5 years	-27.52%	-28.66%	+1.14%
Max Drawdown (10Y) Largest decline over 10 years	-35.58%	-41.04%	+5.46%
Current Drawdown Current decline from peak	-0.23%	-0.61%	+0.38%
Average Drawdown Average peak-to-trough decline	-11.99%	-12.15%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.82%	-0.08%

Volatility

DFALX vs. DFIEX - Volatility Comparison

DFA Large Cap International Portfolio (DFALX) and DFA International Core Equity Portfolio I (DFIEX) have volatilities of 4.47% and 4.48%, 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

	DFALX	DFIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	4.48%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	11.96%	11.73%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	14.51%	14.25%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.74%	15.80%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	16.35%	-0.21%

DFALX vs. DFIEX - Expense Ratio Comparison

DFALX has a 0.18% expense ratio, which is lower than DFIEX'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

DFALX vs. DFIEX - Dividend Comparison

DFALX's dividend yield for the trailing twelve months is around 2.73%, less than DFIEX's 2.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
DFIEX DFA International Core Equity Portfolio I	2.92%	3.22%	3.42%	3.36%	2.88%	2.98%	1.77%	2.90%	2.95%	2.49%	2.76%	4.20%

Frequently Asked Questions

Can I hold both DFALX and DFIEX in my portfolio?

With a correlation of 0.99, DFALX and DFIEX 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, DFALX or DFIEX?

DFIEX has higher volatility (4.48%) compared to DFALX (4.47%). In terms of maximum drawdown, DFALX dropped -59.76% vs DFIEX's -62.22%.

Which has better risk-adjusted returns?

DFIEX currently has the higher Sharpe Ratio (2.03 vs 1.95), 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.