DFAS vs. CGMM

Last updated Jun 4, 2026

DFAS (Dimensional U.S. Small Cap ETF) and CGMM (Capital Group U.S. Small and Mid Cap ETF) are both exchange-traded funds - DFAS is a Small Cap Blend Equities fund actively managed by Dimensional, while CGMM is a Mid Cap Blend Equities fund actively managed by Capital Group. Both are actively managed. Over the past year, DFAS returned 27.65% vs 23.39% for CGMM. Their correlation of 0.94 suggests significant overlap in exposure. DFAS charges 0.34%/yr vs 0.51%/yr for CGMM.

Performance

DFAS vs. CGMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional U.S. Small Cap ETF (DFAS) and Capital Group U.S. Small and Mid Cap ETF (CGMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFAS achieves a 12.81% return, which is significantly higher than CGMM's 10.58% return.

DFAS

• 1D: -0.81%
• 1M: 2.19%
• YTD: 12.81%
• 6M: 12.10%
• 1Y: 27.65%
• 3Y*: 15.22%
• 5Y*: —
• 10Y*: —

CGMM

• 1D: -0.62%
• 1M: 1.79%
• YTD: 10.58%
• 6M: 11.78%
• 1Y: 23.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFAS vs. CGMM - Yearly Performance Comparison

	2026 (YTD)	2025
DFAS Dimensional U.S. Small Cap ETF	12.81%	5.43%
CGMM Capital Group U.S. Small and Mid Cap ETF	10.58%	11.46%

Correlation

The correlation between DFAS and CGMM is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025	0.94

The correlation between DFAS and CGMM has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

DFAS vs. CGMM - Sectors Allocation Comparison

Sectors	DFAS	CGMM
Financial Services	19.5%	15.4%
Industrials	18.6%	21.7%
Technology	15.0%	17.6%
Consumer Cyclical	11.9%	14.7%
Healthcare	11.0%	9.0%
Energy	6.7%	3.4%
Basic Materials	5.6%	3.0%
Consumer Defensive	4.3%	5.8%
Utilities	3.8%	3.1%
Communication Services	2.8%	3.5%
Real Estate	0.2%	2.8%

Return for Risk

DFAS vs. CGMM — Risk / Return Rank

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

DFAS

DFAS Risk / Return Rank: 51
DFAS Sharpe Ratio Rank: 47
DFAS Sortino Ratio Rank: 49
DFAS Omega Ratio Rank: 45
DFAS Calmar Ratio Rank: 59
DFAS Martin Ratio Rank: 57

CGMM

CGMM Risk / Return Rank: 45
CGMM Sharpe Ratio Rank: 42
CGMM Sortino Ratio Rank: 43
CGMM Omega Ratio Rank: 39
CGMM Calmar Ratio Rank: 47
CGMM Martin Ratio Rank: 52

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.

DFAS vs. CGMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional U.S. Small Cap ETF (DFAS) and Capital Group U.S. Small and Mid Cap ETF (CGMM). 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.

	DFAS	CGMM	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.49	+0.17
Sortino ratio: Return per unit of downside risk	2.46	2.18	+0.28
Omega ratio: Gain probability vs. loss probability	1.29	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	2.97	2.33	+0.64
Martin ratio: Return relative to average drawdown	10.17	8.94	+1.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAS vs. CGMM - Sharpe Ratio Comparison

The current DFAS Sharpe Ratio is 1.66, which is comparable to the CGMM Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of DFAS and CGMM, 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

	DFAS	CGMM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.49	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.81	-0.45

Drawdowns

DFAS vs. CGMM - Drawdown Comparison

The maximum DFAS drawdown since its inception was -26.13%, which is greater than CGMM's maximum drawdown of -21.04%. Use the drawdown chart below to compare losses from any high point for DFAS and CGMM.

Drawdown Indicators

	DFAS	CGMM	Difference
Max Drawdown Largest peak-to-trough decline	-26.13%	-21.04%	-5.09%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-10.09%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-26.13%	—	—
Current Drawdown Current decline from peak	-0.81%	-0.62%	-0.19%
Average Drawdown Average peak-to-trough decline	-8.31%	-3.25%	-5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.62%	+0.11%

Volatility

DFAS vs. CGMM - Volatility Comparison

Dimensional U.S. Small Cap ETF (DFAS) has a higher volatility of 4.31% compared to Capital Group U.S. Small and Mid Cap ETF (CGMM) at 3.73%. This indicates that DFAS's price experiences larger fluctuations and is considered to be riskier than CGMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAS	CGMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	3.73%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	11.58%	11.79%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	16.77%	15.80%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	20.29%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.84%	20.29%	+0.55%

DFAS vs. CGMM - Expense Ratio Comparison

DFAS has a 0.34% expense ratio, which is lower than CGMM's 0.51% expense ratio.

Dividends

DFAS vs. CGMM - Dividend Comparison

DFAS's dividend yield for the trailing twelve months is around 0.92%, more than CGMM's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021
CGMM Capital Group U.S. Small and Mid Cap ETF	0.36%	0.40%	0.00%	0.00%	0.00%	0.00%
DFAS Dimensional U.S. Small Cap ETF	0.92%	0.99%	0.93%	1.00%	1.03%	2.87%

Frequently Asked Questions

Can I hold both DFAS and CGMM in my portfolio?

With a correlation of 0.93, DFAS and CGMM 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, DFAS or CGMM?

DFAS has higher volatility (4.31%) compared to CGMM (3.73%). In terms of maximum drawdown, DFAS dropped -26.13% vs CGMM's -21.04%.

Which ETF is better, DFAS or CGMM?

On 1-year performance, DFAS leads with 27.65% vs 23.39% for CGMM. On fees, DFAS is cheaper at 0.34% per year. On volatility, CGMM has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAS or CGMM?

Over the 1-year period, DFAS has performed better with a 27.65% return vs 23.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAS or CGMM?

DFAS is cheaper with a 0.34% expense ratio, compared with 0.51% for CGMM.

Which ETF pays a higher dividend yield, DFAS or CGMM?

DFAS has the higher dividend yield at 0.92%, compared with 0.36% for CGMM.

What is the main difference between DFAS and CGMM?

DFAS is categorized as Small Cap Blend Equities, while CGMM is Mid Cap Blend Equities. They also come from different issuers: Dimensional and Capital Group. Their fees differ too: 0.34% for DFAS and 0.51% for CGMM.

Which has better risk-adjusted returns?

DFAS currently has the higher Sharpe Ratio (1.66 vs 1.49), 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.