DFAS vs. LSVQX

Last updated Jun 4, 2026

DFAS (Dimensional U.S. Small Cap ETF) and LSVQX (LSV Small Cap Value Fund) are both funds - DFAS is a Small Cap Blend Equities fund actively managed by Dimensional, while LSVQX is a Small Cap Value Equities fund managed by LSV. Over the past 3 years, DFAS returned 15.22%/yr vs 15.06%/yr for LSVQX. With a 0.96 correlation, they move nearly in lockstep. DFAS charges 0.34%/yr vs 0.83%/yr for LSVQX.

Performance

DFAS vs. LSVQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional U.S. Small Cap ETF (DFAS) and LSV Small Cap Value Fund (LSVQX). 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 lower than LSVQX's 13.77% return.

DFAS

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

LSVQX

• 1D: 0.86%
• 1M: 3.25%
• YTD: 13.77%
• 6M: 13.52%
• 1Y: 27.94%
• 3Y*: 15.06%
• 5Y*: 7.70%
• 10Y*: 8.88%

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

DFAS vs. LSVQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFAS Dimensional U.S. Small Cap ETF	12.81%	8.17%	10.21%	17.83%	-13.84%	4.94%
LSVQX LSV Small Cap Value Fund	13.77%	7.31%	4.23%	19.02%	-6.24%	3.05%

Correlation

The correlation between DFAS and LSVQX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 15, 2021	0.96

The correlation between DFAS and LSVQX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

DFAS vs. LSVQX — 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

LSVQX

LSVQX Risk / Return Rank: 51
LSVQX Sharpe Ratio Rank: 42
LSVQX Sortino Ratio Rank: 44
LSVQX Omega Ratio Rank: 39
LSVQX Calmar Ratio Rank: 77
LSVQX Martin Ratio Rank: 51

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. LSVQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional U.S. Small Cap ETF (DFAS) and LSV Small Cap Value Fund (LSVQX). 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	LSVQX	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.90	-0.24
Sortino ratio: Return per unit of downside risk	2.46	2.80	-0.34
Omega ratio: Gain probability vs. loss probability	1.29	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	2.97	3.50	-0.53
Martin ratio: Return relative to average drawdown	10.17	10.35	-0.18
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. LSVQX - Sharpe Ratio Comparison

The current DFAS Sharpe Ratio is 1.66, which is comparable to the LSVQX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of DFAS and LSVQX, 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	LSVQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.90	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.38	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.40	-0.04

Drawdowns

DFAS vs. LSVQX - Drawdown Comparison

The maximum DFAS drawdown since its inception was -26.13%, smaller than the maximum LSVQX drawdown of -54.77%. Use the drawdown chart below to compare losses from any high point for DFAS and LSVQX.

Drawdown Indicators

	DFAS	LSVQX	Difference
Max Drawdown Largest peak-to-trough decline	-26.13%	-54.77%	+28.64%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-8.48%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-26.13%	-25.76%	-0.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-54.77%	—
Current Drawdown Current decline from peak	-0.81%	0.00%	-0.81%
Average Drawdown Average peak-to-trough decline	-8.31%	-7.45%	-0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.86%	-0.13%

Volatility

DFAS vs. LSVQX - Volatility Comparison

Dimensional U.S. Small Cap ETF (DFAS) and LSV Small Cap Value Fund (LSVQX) have volatilities of 4.31% and 4.26%, 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

	DFAS	LSVQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.26%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	11.58%	10.40%	+1.18%
Volatility (1Y) Calculated over the trailing 1-year period	16.77%	15.61%	+1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	20.36%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.84%	24.30%	-3.46%

DFAS vs. LSVQX - Expense Ratio Comparison

DFAS has a 0.34% expense ratio, which is lower than LSVQX's 0.83% expense ratio.

Dividends

DFAS vs. LSVQX - Dividend Comparison

DFAS's dividend yield for the trailing twelve months is around 0.92%, less than LSVQX's 7.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAS Dimensional U.S. Small Cap ETF	0.92%	0.99%	0.93%	1.00%	1.03%	2.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LSVQX LSV Small Cap Value Fund	7.14%	8.13%	1.78%	4.73%	2.02%	1.45%	1.83%	2.04%	7.00%	4.78%	2.35%	3.59%

Frequently Asked Questions

Can I hold both DFAS and LSVQX in my portfolio?

With a correlation of 0.94, DFAS and LSVQX 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 LSVQX?

DFAS has higher volatility (4.31%) compared to LSVQX (4.26%). In terms of maximum drawdown, DFAS dropped -26.13% vs LSVQX's -54.77%.

Which has better risk-adjusted returns?

LSVQX currently has the higher Sharpe Ratio (1.90 vs 1.66), 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.