DFAR vs. DFSV

Last updated Aug 4, 2026

DFAR (Dimensional US Real Estate ETF) and DFSV (Dimensional US Small Cap Value ETF) are both exchange-traded funds - DFAR is a REIT fund actively managed by Dimensional, while DFSV is a Small Cap Value Equities fund actively managed by Dimensional. Both are actively managed. Over the past 3 years, DFAR returned 11.02%/yr vs 15.33%/yr for DFSV. Their 0.63 correlation means they have sometimes moved together and sometimes differently. DFAR charges 0.19%/yr vs 0.31%/yr for DFSV.

Performance

DFAR vs. DFSV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Real Estate ETF (DFAR) and Dimensional US Small Cap Value ETF (DFSV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFAR achieves a 17.78% return, which is significantly lower than DFSV's 22.89% return.

DFAR

• 1D: -0.04%
• 1M: 0.79%
• 6M: 15.96%
• YTD: 17.78%
• 1Y: 19.56%
• 3Y*: 11.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.68%

DFSV

• 1D: 1.21%
• 1M: 3.80%
• 6M: 13.69%
• YTD: 22.89%
• 1Y: 39.62%
• 3Y*: 15.33%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFAR Dimensional US Real Estate ETF	$67.51M	$62.78M	$64.52M
DFSV Dimensional US Small Cap Value ETF	$29.27M	$28.67M	$35.45M

DFAR vs. DFSV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFAR Dimensional US Real Estate ETF	17.78%	1.31%	5.25%	11.04%	-12.16%
DFSV Dimensional US Small Cap Value ETF	22.89%	8.59%	7.13%	19.26%	2.68%

Correlation

The correlation between DFAR and DFSV is 0.50, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (All Time) Calculated using the full available price history since Feb 24, 2022	0.63

The correlation between DFAR and DFSV shifts across timeframes, from 0.50 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFAR vs. DFSV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFAR

DFAR Risk / Return Rank: 60
DFAR Sharpe Ratio Rank: 59
DFAR Sortino Ratio Rank: 57
DFAR Omega Ratio Rank: 55
DFAR Calmar Ratio Rank: 64
DFAR Martin Ratio Rank: 63

DFSV

DFSV Risk / Return Rank: 91
DFSV Sharpe Ratio Rank: 91
DFSV Sortino Ratio Rank: 92
DFSV Omega Ratio Rank: 90
DFSV Calmar Ratio Rank: 92
DFSV Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFAR vs. DFSV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Real Estate ETF (DFAR) and Dimensional US Small Cap Value ETF (DFSV). 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.

	DFAR	DFSV	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.38	-0.95
Sortino ratio: Return per unit of downside risk	2.03	3.45	-1.42
Omega ratio: Gain probability vs. loss probability	1.25	1.43	-0.17
Calmar ratio: Return relative to maximum drawdown	2.33	4.24	-1.91
Martin ratio: Return relative to average drawdown	7.87	14.25	-6.38

DFAR vs. DFSV - Sharpe Ratio Comparison

The current DFAR Sharpe Ratio is 1.44, which is lower than the DFSV Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of DFAR and DFSV, 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

DFAR vs. DFSV - Drawdown Comparison

The maximum DFAR drawdown since its inception was -32.27%, which is greater than DFSV's maximum drawdown of -28.02%. Use the drawdown chart below to compare losses from any high point for DFAR and DFSV.

Drawdown Indicators

	DFAR	DFSV	Difference
Max Drawdown Largest peak-to-trough decline	-32.27%	-28.02%	-4.25%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-9.39%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	-28.02%	+10.38%
Current Drawdown Current decline from peak	-2.26%	0.00%	-2.26%
Average Drawdown Average peak-to-trough decline	-13.72%	-6.48%	-7.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.79%	-0.30%

Volatility

DFAR vs. DFSV - Volatility Comparison

Dimensional US Real Estate ETF (DFAR) has a higher volatility of 4.32% compared to Dimensional US Small Cap Value ETF (DFSV) at 3.55%. This indicates that DFAR's price experiences larger fluctuations and is considered to be riskier than DFSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAR	DFSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	3.55%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	10.57%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	13.71%	16.74%	-3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	21.98%	-2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	21.98%	-2.90%

DFAR vs. DFSV - Expense Ratio Comparison

DFAR has a 0.19% expense ratio, which is lower than DFSV's 0.31% expense ratio.

Dividends

DFAR vs. DFSV - Dividend Comparison

DFAR's dividend yield for the trailing twelve months is around 2.63%, more than DFSV's 1.33% yield.

Position	TTM	2025	2024	2023	2022
DFAR Dimensional US Real Estate ETF	2.63%	2.97%	2.89%	3.06%	1.69%
DFSV Dimensional US Small Cap Value ETF	1.33%	1.53%	1.31%	1.29%	0.90%

Frequently Asked Questions

Can I hold both DFAR and DFSV in my portfolio?

DFAR and DFSV have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFAR or DFSV?

DFAR has higher volatility (4.32%) compared to DFSV (3.55%). In terms of maximum drawdown, DFAR dropped -32.27% vs DFSV's -28.02%.

Which ETF is better, DFAR or DFSV?

On 3-year performance, DFSV leads with 15.33% vs 11.02% for DFAR. On fees, DFAR is cheaper at 0.19% per year. On volatility, DFSV has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAR or DFSV?

Over the 3-year period, DFSV has performed better with a 15.33% return vs 11.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAR or DFSV?

DFAR is cheaper with a 0.19% expense ratio, compared with 0.31% for DFSV.

Which ETF pays a higher dividend yield, DFAR or DFSV?

DFAR has the higher dividend yield at 2.63%, compared with 1.33% for DFSV.

What is the main difference between DFAR and DFSV?

DFAR is categorized as REIT, while DFSV is Small Cap Value Equities. Their fees differ too: 0.19% for DFAR and 0.31% for DFSV.

Which has better risk-adjusted returns?

DFSV currently has the higher Sharpe Ratio (2.38 vs 1.44), 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.