DFAT vs. CGMM

Last updated Jun 5, 2026

DFAT (Dimensional U.S. Targeted Value ETF) and CGMM (Capital Group U.S. Small and Mid Cap ETF) are both exchange-traded funds - DFAT is a Small Cap Value 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, DFAT returned 32.14% vs 24.34% for CGMM. Their correlation of 0.88 suggests significant overlap in exposure. DFAT charges 0.28%/yr vs 0.51%/yr for CGMM.

Performance

DFAT vs. CGMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional U.S. Targeted Value ETF (DFAT) 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, DFAT achieves a 14.41% return, which is significantly higher than CGMM's 11.13% return.

DFAT

• 1D: 1.01%
• 1M: 1.12%
• YTD: 14.41%
• 6M: 14.52%
• 1Y: 32.14%
• 3Y*: 17.55%
• 5Y*: —
• 10Y*: —

CGMM

• 1D: 0.50%
• 1M: 2.10%
• YTD: 11.13%
• 6M: 11.40%
• 1Y: 24.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFAT vs. CGMM - Yearly Performance Comparison

	2026 (YTD)	2025
DFAT Dimensional U.S. Targeted Value ETF	14.41%	5.95%
CGMM Capital Group U.S. Small and Mid Cap ETF	11.13%	11.46%

Correlation

The correlation between DFAT and CGMM is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025	0.88

The correlation between DFAT and CGMM has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

DFAT vs. CGMM - Sectors Allocation Comparison

Sectors	DFAT	CGMM
Financial Services	28.0%	15.4%
Industrials	15.9%	21.7%
Consumer Cyclical	14.4%	14.7%
Energy	11.5%	3.4%
Technology	9.2%	17.6%
Consumer Defensive	6.7%	5.8%
Healthcare	6.2%	9.0%
Basic Materials	5.1%	3.0%
Communication Services	1.8%	3.5%
Real Estate	0.9%	2.8%
Utilities	0.4%	3.1%

Return for Risk

DFAT vs. CGMM — Risk / Return Rank

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

DFAT

DFAT Risk / Return Rank: 61
DFAT Sharpe Ratio Rank: 58
DFAT Sortino Ratio Rank: 61
DFAT Omega Ratio Rank: 57
DFAT Calmar Ratio Rank: 69
DFAT Martin Ratio Rank: 61

CGMM

CGMM Risk / Return Rank: 47
CGMM Sharpe Ratio Rank: 45
CGMM Sortino Ratio Rank: 46
CGMM Omega Ratio Rank: 42
CGMM Calmar Ratio Rank: 50
CGMM Martin Ratio Rank: 54

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.

DFAT vs. CGMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional U.S. Targeted Value ETF (DFAT) 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.

	DFAT	CGMM	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.55	+0.38
Sortino ratio: Return per unit of downside risk	2.84	2.25	+0.58
Omega ratio: Gain probability vs. loss probability	1.35	1.27	+0.08
Calmar ratio: Return relative to maximum drawdown	3.38	2.42	+0.96
Martin ratio: Return relative to average drawdown	10.84	9.30	+1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAT vs. CGMM - Sharpe Ratio Comparison

The current DFAT Sharpe Ratio is 1.93, which is comparable to the CGMM Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of DFAT 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

	DFAT	CGMM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	1.55	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.83	-0.37

Drawdowns

DFAT vs. CGMM - Drawdown Comparison

The maximum DFAT drawdown since its inception was -26.12%, which is greater than CGMM's maximum drawdown of -21.04%. Use the drawdown chart below to compare losses from any high point for DFAT and CGMM.

Drawdown Indicators

	DFAT	CGMM	Difference
Max Drawdown Largest peak-to-trough decline	-26.12%	-21.04%	-5.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-10.09%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	-26.12%	—	—
Current Drawdown Current decline from peak	0.00%	-0.12%	+0.12%
Average Drawdown Average peak-to-trough decline	-6.24%	-3.25%	-2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.62%	+0.35%

Volatility

DFAT vs. CGMM - Volatility Comparison

Dimensional U.S. Targeted Value ETF (DFAT) has a higher volatility of 3.96% compared to Capital Group U.S. Small and Mid Cap ETF (CGMM) at 3.75%. This indicates that DFAT'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

	DFAT	CGMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	3.75%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	10.91%	11.79%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	16.70%	15.77%	+0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.48%	20.26%	+1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.48%	20.26%	+1.22%

DFAT vs. CGMM - Expense Ratio Comparison

DFAT has a 0.28% expense ratio, which is lower than CGMM's 0.51% expense ratio.

Dividends

DFAT vs. CGMM - Dividend Comparison

DFAT's dividend yield for the trailing twelve months is around 1.43%, 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%
DFAT Dimensional U.S. Targeted Value ETF	1.43%	1.55%	1.31%	1.34%	1.34%	1.13%

Frequently Asked Questions

Can I hold both DFAT and CGMM in my portfolio?

DFAT and CGMM have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFAT or CGMM?

DFAT has higher volatility (3.96%) compared to CGMM (3.75%). In terms of maximum drawdown, DFAT dropped -26.12% vs CGMM's -21.04%.

Which ETF is better, DFAT or CGMM?

On 1-year performance, DFAT leads with 32.14% vs 24.34% for CGMM. On fees, DFAT is cheaper at 0.28% per year. On volatility, CGMM has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAT or CGMM?

Over the 1-year period, DFAT has performed better with a 32.14% return vs 24.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAT or CGMM?

DFAT is cheaper with a 0.28% expense ratio, compared with 0.51% for CGMM.

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

DFAT has the higher dividend yield at 1.43%, compared with 0.36% for CGMM.

What is the main difference between DFAT and CGMM?

DFAT is categorized as Small Cap Value Equities, while CGMM is Mid Cap Blend Equities. They also come from different issuers: Dimensional and Capital Group. Their fees differ too: 0.28% for DFAT and 0.51% for CGMM.

Which has better risk-adjusted returns?

DFAT currently has the higher Sharpe Ratio (1.93 vs 1.55), 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.