DFALX vs. IWM
DFALX (DFA Large Cap International Portfolio) and IWM (iShares Russell 2000 ETF) are both funds - DFALX is a Foreign Large Cap Equities fund managed by Dimensional, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, DFALX returned 10.35%/yr vs 11.27%/yr for IWM. A 0.68 correlation means they provide meaningful diversification when combined. DFALX charges 0.18%/yr vs 0.19%/yr for IWM.
Performance
DFALX vs. IWM - Performance Comparison
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Returns By Period
In the year-to-date period, DFALX achieves a 10.02% return, which is significantly lower than IWM's 19.22% return. Over the past 10 years, DFALX has underperformed IWM with an annualized return of 10.35%, while IWM has yielded a comparatively higher 11.27% annualized return.
DFALX
- 1D
- 2.73%
- 1M
- 0.45%
- YTD
- 10.02%
- 6M
- 11.54%
- 1Y
- 25.05%
- 3Y*
- 18.07%
- 5Y*
- 9.39%
- 10Y*
- 10.35%
IWM
- 1D
- 0.87%
- 1M
- 2.99%
- YTD
- 19.22%
- 6M
- 16.00%
- 1Y
- 41.75%
- 3Y*
- 17.23%
- 5Y*
- 6.07%
- 10Y*
- 11.27%
DFALX vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFALX DFA Large Cap International Portfolio | 10.02% | 33.60% | 4.55% | 17.88% | -13.04% | 12.79% | 8.13% | 22.05% | -14.15% | 25.35% |
IWM iShares Russell 2000 ETF | 19.22% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Correlation
The correlation between DFALX and IWM is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.68 |
The correlation between DFALX and IWM has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
DFALX vs. IWM — Risk / Return Rank
DFALX
IWM
DFALX vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Large Cap International Portfolio (DFALX) and iShares Russell 2000 ETF (IWM). 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 | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.33 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 3.57 | -1.25 |
| Martin ratioReturn relative to average drawdown | 8.96 | 12.63 | -3.66 |
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Drawdowns
DFALX vs. IWM - Drawdown Comparison
The maximum DFALX drawdown since its inception was -59.76%, roughly equal to the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for DFALX and IWM.
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Drawdown Indicators
| DFALX | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.76% | -59.05% | -0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -10.70% | -11.03% | +0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -13.11% | -27.50% | +14.39% |
Max Drawdown (5Y)Largest decline over 5 years | -27.52% | -31.91% | +4.39% |
Max Drawdown (10Y)Largest decline over 10 years | -35.58% | -41.13% | +5.55% |
Current DrawdownCurrent decline from peak | -0.81% | 0.00% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -12.00% | -10.76% | -1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 3.12% | -0.36% |
Volatility
DFALX vs. IWM - Volatility Comparison
The current volatility for DFA Large Cap International Portfolio (DFALX) is 4.92%, while iShares Russell 2000 ETF (IWM) has a volatility of 7.16%. This indicates that DFALX experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFALX | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 7.16% | -2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 12.05% | 14.29% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.60% | 19.73% | -5.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 22.61% | -6.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.19% | 23.08% | -6.89% |
DFALX vs. IWM - Expense Ratio Comparison
DFALX has a 0.18% expense ratio, which is lower than IWM's 0.19% 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. IWM - Dividend Comparison
DFALX's dividend yield for the trailing twelve months is around 2.75%, more than IWM's 0.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFALX DFA Large Cap International Portfolio | 2.75% | 2.89% | 3.18% | 3.24% | 2.86% | 3.00% | 1.88% | 2.88% | 3.07% | 2.55% | 2.89% | 2.94% |
IWM iShares Russell 2000 ETF | 0.87% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Frequently Asked Questions
DFALX and IWM have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWM has higher volatility (7.16%) compared to DFALX (4.92%). In terms of maximum drawdown, DFALX dropped -59.76% vs IWM's -59.05%.
IWM currently has the higher Sharpe Ratio (1.99 vs 1.70), 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.
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