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DFAS vs. ISCB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DFAS vs. ISCB

Last updated Aug 2, 2026
Documentation

DFAS (Dimensional U.S. Small Cap ETF) and ISCB (iShares Morningstar Small-Cap ETF) are both Small Cap Blend Equities funds. DFAS is actively managed, while ISCB is passively managed. Over the past 5 years, DFAS returned 8.65%/yr vs 7.13%/yr for ISCB. Their 0.98 correlation means they have historically moved very closely together. DFAS charges 0.26%/yr vs 0.04%/yr for ISCB.

Performance

DFAS vs. ISCB - Performance Comparison

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

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Returns By Period

In the year-to-date period, DFAS achieves a 16.93% return, which is significantly higher than ISCB's 14.99% return.

DFAS

1D
-0.17%
1M
-0.61%
6M
10.95%
YTD
16.93%
1Y
29.19%
3Y*
13.31%
5Y*
8.65%
10Y*
—
ALL TIME*
7.93%

ISCB

1D
-0.18%
1M
-0.92%
6M
10.53%
YTD
14.99%
1Y
29.06%
3Y*
14.03%
5Y*
7.13%
10Y*
9.25%
ALL TIME*
8.89%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DFAS

Dimensional U.S. Small Cap ETF
$35.83M$42.77M$37.37M

ISCB

iShares Morningstar Small-Cap ETF
$562.81K$433.76K$308.14K

DFAS vs. ISCB - Yearly Performance Comparison

2026 (YTD)20252024202320222021
DFAS
Dimensional U.S. Small Cap ETF		16.93%8.17%10.21%17.83%-13.84%4.52%
ISCB
iShares Morningstar Small-Cap ETF		14.99%12.46%10.90%19.51%-19.04%-3.36%

Correlation

The correlation between DFAS and ISCB is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.98

Correlation (3Y)
Balances recent behavior with more history.

0.98

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.98

Correlation (All Time)
Calculated using the full available price history since Jun 14, 2021

0.98

The correlation between DFAS and ISCB has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

DFAS vs. ISCB - Sectors Allocation Comparison

Sectors
DFAS
ISCB

Financial Services

19.6%
16.6%

Industrials

19.0%
16.3%

Technology

14.7%
15.0%

Consumer Cyclical

13.1%
11.1%

Healthcare

13.0%
14.9%

Energy

5.9%
4.2%

Basic Materials

4.8%
4.5%

Consumer Defensive

4.2%
3.8%

Utilities

2.7%
2.5%

Communication Services

2.5%
2.6%

Real Estate

0.7%
8.3%

Financial Services

DFAS
19.6%
ISCB
16.6%

Industrials

DFAS
19.0%
ISCB
16.3%

Technology

DFAS
14.7%
ISCB
15.0%

Consumer Cyclical

DFAS
13.1%
ISCB
11.1%

Healthcare

DFAS
13.0%
ISCB
14.9%

Energy

DFAS
5.9%
ISCB
4.2%

Basic Materials

DFAS
4.8%
ISCB
4.5%

Consumer Defensive

DFAS
4.2%
ISCB
3.8%

Utilities

DFAS
2.7%
ISCB
2.5%

Communication Services

DFAS
2.5%
ISCB
2.6%

Real Estate

DFAS
0.7%
ISCB
8.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Dimensional U.S. Small Cap ETF

iShares Morningstar Small-Cap ETF

Often compared with DFAS:
DFAS vs. AVUVDFAS vs. VBDFAS vs. AVSCDFAS vs. DFSTXDFAS vs. IJRDFAS vs. VBRDFAS vs. SCHA
Often compared with ISCB:
ISCB vs. VBISCB vs. ISCGISCB vs. IJRISCB vs. SPSMISCB vs. IWMISCB vs. IMCBISCB vs. SCHA

Return for Risk

DFAS vs. ISCB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
DFAS
DFAS Risk / Return Rank: 7575
Overall Rank
DFAS Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
DFAS Sortino Ratio Rank: 7676
Sortino Ratio Rank
DFAS Omega Ratio Rank: 6868
Omega Ratio Rank
DFAS Calmar Ratio Rank: 8080
Calmar Ratio Rank
DFAS Martin Ratio Rank: 7979
Martin Ratio Rank
ISCB
ISCB Risk / Return Rank: 7575
Overall Rank
ISCB Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
ISCB Sortino Ratio Rank: 7575
Sortino Ratio Rank
ISCB Omega Ratio Rank: 6868
Omega Ratio Rank
ISCB Calmar Ratio Rank: 8080
Calmar Ratio Rank
ISCB Martin Ratio Rank: 8080
Martin Ratio Rank
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.

DFAS vs. ISCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional U.S. Small Cap ETF (DFAS) and iShares Morningstar Small-Cap ETF (ISCB). 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.

DFASISCBDifference
Sharpe ratioReturn per unit of total volatility
1.62
1.65

-0.03

Sortino ratioReturn per unit of downside risk
2.42
2.41

+0.01

Omega ratioGain probability vs. loss probability

1.29

1.29

0.00

Calmar ratioReturn relative to maximum drawdown

2.88

2.88

0.00

Martin ratioReturn relative to average drawdown

10.09

10.43

-0.34

DFAS vs. ISCB - Sharpe Ratio Comparison

The current DFAS Sharpe Ratio is 1.62, which is comparable to the ISCB Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of DFAS and ISCB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DFAS vs. ISCB - Drawdown Comparison

The maximum DFAS drawdown since its inception was -26.13%, smaller than the maximum ISCB drawdown of -61.25%. Use the drawdown chart below to compare losses from any high point for DFAS and ISCB.

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Drawdown Indicators

DFASISCBDifference

Max Drawdown

Largest peak-to-trough decline

-26.13%

-61.25%

+35.12%

Max Drawdown (1Y)

Largest decline over 1 year

-9.36%

-9.39%

+0.03%

Max Drawdown (3Y)

Largest decline over 3 years

-26.13%

-26.22%

+0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-26.13%

-29.94%

+3.81%

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.18%

—

Current Drawdown

Current decline from peak

-1.59%

-1.57%

-0.02%

Average Drawdown

Average peak-to-trough decline

-8.08%

-9.74%

+1.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.67%

2.59%

+0.08%

Volatility

DFAS vs. ISCB - Volatility Comparison

Dimensional U.S. Small Cap ETF (DFAS) and iShares Morningstar Small-Cap ETF (ISCB) have volatilities of 3.36% and 3.32%, 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.

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Volatility by Period

DFASISCBDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.36%

3.32%

+0.04%

Volatility (6M)

Calculated over the trailing 6-month period

11.54%

11.48%

+0.06%

Volatility (1Y)

Calculated over the trailing 1-year period

16.67%

16.46%

+0.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.67%

21.27%

-0.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.66%

22.61%

-1.95%

DFAS vs. ISCB - Expense Ratio Comparison

DFAS has a 0.26% expense ratio, which is higher than ISCB's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFAS vs. ISCB - Dividend Comparison

DFAS's dividend yield for the trailing twelve months is around 0.98%, less than ISCB's 1.28% yield.

PositionTTM20252024202320222021202020192018201720162015
DFAS
Dimensional U.S. Small Cap ETF		0.98%0.99%0.93%1.00%1.03%2.87%0.00%0.00%0.00%0.00%0.00%0.00%
ISCB
iShares Morningstar Small-Cap ETF		1.28%1.38%1.31%1.49%1.63%1.26%1.26%1.25%1.60%1.24%1.58%1.40%

Frequently Asked Questions

With a correlation of 0.98, DFAS and ISCB 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.

DFAS has higher volatility (3.36%) compared to ISCB (3.32%). In terms of maximum drawdown, DFAS dropped -26.13% vs ISCB's -61.25%.

On 5-year performance, DFAS leads with 8.65% vs 7.13% for ISCB. On fees, ISCB is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, DFAS has performed better with a 8.65% return vs 7.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ISCB is cheaper with a 0.04% expense ratio, compared with 0.26% for DFAS.

ISCB has the higher dividend yield at 1.28%, compared with 0.98% for DFAS.

They also come from different issuers: Dimensional and iShares. Their fees differ too: 0.26% for DFAS and 0.04% for ISCB.

ISCB currently has the higher Sharpe Ratio (1.65 vs 1.62), 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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