DFAT vs. DFFVX
DFAT (Dimensional U.S. Targeted Value ETF) and DFFVX (DFA U.S. Targeted Value Portfolio Institutional Class) are both Small Cap Value Equities funds from Dimensional. Both are actively managed. Over the past 5 years, DFAT returned 12.42%/yr vs 11.50%/yr for DFFVX. With a 0.99 correlation, they move nearly in lockstep. DFAT charges 0.28%/yr vs 0.29%/yr for DFFVX.
Performance
DFAT vs. DFFVX - Performance Comparison
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Returns By Period
In the year-to-date period, DFAT achieves a 20.31% return, which is significantly higher than DFFVX's 18.86% return.
DFAT
- 1D
- 1.60%
- 1M
- 3.48%
- 6M
- 12.63%
- YTD
- 20.31%
- 1Y
- 31.55%
- 3Y*
- 15.89%
- 5Y*
- 12.42%
- 10Y*
- —
DFFVX
- 1D
- 0.48%
- 1M
- 1.94%
- 6M
- 11.22%
- YTD
- 18.86%
- 1Y
- 30.41%
- 3Y*
- 16.31%
- 5Y*
- 11.50%
- 10Y*
- 11.11%
DFAT vs. DFFVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DFAT Dimensional U.S. Targeted Value ETF | 20.31% | 8.73% | 7.80% | 20.86% | -6.23% | 3.66% |
DFFVX DFA U.S. Targeted Value Portfolio Institutional Class | 18.86% | 9.53% | 9.34% | 19.37% | -4.66% | -2.43% |
Correlation
The correlation between DFAT and DFFVX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021 | 0.99 |
The correlation between DFAT and DFFVX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
DFAT vs. DFFVX — Risk / Return Rank
DFAT
DFFVX
DFAT vs. DFFVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional U.S. Targeted Value ETF (DFAT) and DFA U.S. Targeted Value Portfolio Institutional Class (DFFVX). 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.
| DFAT | DFFVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.34 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | 3.20 | +0.12 |
| Martin ratioReturn relative to average drawdown | 10.73 | 10.47 | +0.26 |
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Drawdowns
DFAT vs. DFFVX - Drawdown Comparison
The maximum DFAT drawdown since its inception was -26.12%, smaller than the maximum DFFVX drawdown of -64.21%. Use the drawdown chart below to compare losses from any high point for DFAT and DFFVX.
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Drawdown Indicators
| DFAT | DFFVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.12% | -64.21% | +38.09% |
Max Drawdown (1Y)Largest decline over 1 year | -9.55% | -9.70% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -26.12% | -26.09% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -26.12% | -26.09% | -0.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.75% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.16% | -9.67% | +3.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 2.96% | -0.01% |
Volatility
DFAT vs. DFFVX - Volatility Comparison
Dimensional U.S. Targeted Value ETF (DFAT) has a higher volatility of 3.27% compared to DFA U.S. Targeted Value Portfolio Institutional Class (DFFVX) at 3.08%. This indicates that DFAT's price experiences larger fluctuations and is considered to be riskier than DFFVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFAT | DFFVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 3.08% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 10.75% | 10.87% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.24% | 16.66% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.29% | 21.37% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.33% | 23.54% | -2.21% |
DFAT vs. DFFVX - Expense Ratio Comparison
DFAT has a 0.28% expense ratio, which is lower than DFFVX's 0.29% expense ratio.
Dividends
DFAT vs. DFFVX - Dividend Comparison
DFAT's dividend yield for the trailing twelve months is around 1.35%, less than DFFVX's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFAT Dimensional U.S. Targeted Value ETF | 1.35% | 1.55% | 1.31% | 1.34% | 1.34% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DFFVX DFA U.S. Targeted Value Portfolio Institutional Class | 1.50% | 1.69% | 1.40% | 2.26% | 5.17% | 2.74% | 1.52% | 3.82% | 5.95% | 5.16% | 3.95% | 5.84% |
Frequently Asked Questions
With a correlation of 0.99, DFAT and DFFVX 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.
DFAT has higher volatility (3.27%) compared to DFFVX (3.08%). In terms of maximum drawdown, DFAT dropped -26.12% vs DFFVX's -64.21%.
DFAT currently has the higher Sharpe Ratio (1.95 vs 1.89), 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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