DFALX vs. DFSTX

Last updated Jun 4, 2026

DFALX (DFA Large Cap International Portfolio) and DFSTX (DFA U.S. Small Cap Portfolio) are both mutual funds - DFALX is a Foreign Large Cap Equities fund managed by Dimensional, while DFSTX is a Small Cap Blend Equities fund managed by Dimensional. Over the past 10 years, DFALX returned 10.01%/yr vs 10.93%/yr for DFSTX. A 0.62 correlation means they provide meaningful diversification when combined. DFALX charges 0.18%/yr vs 0.27%/yr for DFSTX.

Performance

DFALX vs. DFSTX - Performance Comparison

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

Returns By Period

In the year-to-date period, DFALX achieves a 10.72% return, which is significantly lower than DFSTX's 14.69% return. Over the past 10 years, DFALX has underperformed DFSTX with an annualized return of 10.01%, while DFSTX has yielded a comparatively higher 10.93% annualized return.

DFALX

• 1D: 0.42%
• 1M: 3.63%
• YTD: 10.72%
• 6M: 13.34%
• 1Y: 26.40%
• 3Y*: 18.68%
• 5Y*: 9.76%
• 10Y*: 10.01%

DFSTX

• 1D: 0.76%
• 1M: 3.51%
• YTD: 14.69%
• 6M: 13.91%
• 1Y: 29.09%
• 3Y*: 16.25%
• 5Y*: 8.13%
• 10Y*: 10.93%

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

DFALX vs. DFSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFALX DFA Large Cap International Portfolio	10.72%	33.60%	4.55%	17.88%	-13.04%	12.79%	8.13%	22.05%	-14.15%	25.35%
DFSTX DFA U.S. Small Cap Portfolio	14.69%	8.07%	11.50%	17.66%	-13.50%	30.50%	11.19%	21.78%	-13.20%	11.19%

Correlation

The correlation between DFALX and DFSTX is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Mar 20, 1992	0.62

The correlation between DFALX and DFSTX shifts across timeframes, from 0.62 (all time) to 0.74 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DFALX vs. DFSTX — Risk / Return Rank

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

DFALX

DFALX Risk / Return Rank: 40
DFALX Sharpe Ratio Rank: 40
DFALX Sortino Ratio Rank: 38
DFALX Omega Ratio Rank: 39
DFALX Calmar Ratio Rank: 40
DFALX Martin Ratio Rank: 45

DFSTX

DFSTX Risk / Return Rank: 51
DFSTX Sharpe Ratio Rank: 41
DFSTX Sortino Ratio Rank: 42
DFSTX Omega Ratio Rank: 38
DFSTX Calmar Ratio Rank: 75
DFSTX Martin Ratio Rank: 58

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. DFSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Large Cap International Portfolio (DFALX) and DFA U.S. Small Cap Portfolio (DFSTX). 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.

	DFALX	DFSTX	Difference
Sharpe ratio Return per unit of total volatility	1.83	1.87	-0.04
Sortino ratio Return per unit of downside risk	2.55	2.73	-0.17
Omega ratio Gain probability vs. loss probability	1.33	1.32	0.00
Calmar ratio Return relative to maximum drawdown	2.40	3.42	-1.02
Martin ratio Return relative to average drawdown	9.36	11.58	-2.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFALX vs. DFSTX - Sharpe Ratio Comparison

The current DFALX Sharpe Ratio is 1.83, which is comparable to the DFSTX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of DFALX and DFSTX, 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

	DFALX	DFSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.87	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.40	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.50	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.50	-0.12

Drawdowns

DFALX vs. DFSTX - Drawdown Comparison

The maximum DFALX drawdown since its inception was -59.76%, roughly equal to the maximum DFSTX drawdown of -60.99%. Use the drawdown chart below to compare losses from any high point for DFALX and DFSTX.

Drawdown Indicators

	DFALX	DFSTX	Difference
Max Drawdown Largest peak-to-trough decline	-59.76%	-60.99%	+1.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	-9.16%	-1.54%
Max Drawdown (3Y) Largest decline over 3 years	-13.11%	-25.91%	+12.80%
Max Drawdown (5Y) Largest decline over 5 years	-27.52%	-25.91%	-1.61%
Max Drawdown (10Y) Largest decline over 10 years	-35.58%	-44.78%	+9.20%
Current Drawdown Current decline from peak	-0.18%	0.00%	-0.18%
Average Drawdown Average peak-to-trough decline	-12.01%	-8.77%	-3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.69%	+0.05%

Volatility

DFALX vs. DFSTX - Volatility Comparison

DFA Large Cap International Portfolio (DFALX) and DFA U.S. Small Cap Portfolio (DFSTX) have volatilities of 4.24% and 4.45%, 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	DFSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	4.45%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	11.41%	11.57%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	14.11%	16.76%	-2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.67%	20.56%	-4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	22.08%	-5.90%

DFALX vs. DFSTX - Expense Ratio Comparison

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

DFALX vs. DFSTX - Dividend Comparison

DFALX's dividend yield for the trailing twelve months is around 2.73%, more than DFSTX's 0.95% 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%
DFSTX DFA U.S. Small Cap Portfolio	0.95%	1.08%	1.05%	2.45%	5.18%	6.39%	1.08%	3.30%	5.16%	4.56%	3.10%	5.90%

Frequently Asked Questions

Can I hold both DFALX and DFSTX in my portfolio?

DFALX and DFSTX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFALX or DFSTX?

DFSTX has higher volatility (4.45%) compared to DFALX (4.24%). In terms of maximum drawdown, DFALX dropped -59.76% vs DFSTX's -60.99%.

Which has better risk-adjusted returns?

DFSTX currently has the higher Sharpe Ratio (1.87 vs 1.83), 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.