DFAT vs. DFUVX

Last updated Jun 23, 2026

DFAT (Dimensional U.S. Targeted Value ETF) and DFUVX (DFA U.S. Large Cap Value III Portfolio) are both funds - DFAT is a Small Cap Value Equities fund actively managed by Dimensional, while DFUVX is a Large Cap Value Equities fund managed by Dimensional. Over the past 5 years, DFAT returned 10.54%/yr vs 10.84%/yr for DFUVX. Their correlation of 0.91 suggests significant overlap in exposure. DFAT charges 0.28%/yr vs 0.14%/yr for DFUVX.

Performance

DFAT vs. DFUVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional U.S. Targeted Value ETF (DFAT) and DFA U.S. Large Cap Value III Portfolio (DFUVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DFAT having a 15.54% return and DFUVX slightly higher at 15.75%.

DFAT

• 1D: 0.12%
• 1M: 2.40%
• YTD: 15.54%
• 6M: 13.44%
• 1Y: 32.06%
• 3Y*: 17.14%
• 5Y*: 10.54%
• 10Y*: —

DFUVX

• 1D: 0.12%
• 1M: 1.88%
• YTD: 15.75%
• 6M: 14.95%
• 1Y: 31.82%
• 3Y*: 17.96%
• 5Y*: 10.84%
• 10Y*: 11.34%

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

DFAT vs. DFUVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFAT Dimensional U.S. Targeted Value ETF	15.54%	8.73%	7.80%	20.86%	-6.23%	3.66%
DFUVX DFA U.S. Large Cap Value III Portfolio	15.75%	15.83%	12.87%	11.65%	-5.73%	0.02%

Correlation

The correlation between DFAT and DFUVX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.91

The correlation between DFAT and DFUVX has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

DFAT vs. DFUVX — Risk / Return Rank

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

DFAT

DFAT Risk / Return Rank: 62
DFAT Sharpe Ratio Rank: 59
DFAT Sortino Ratio Rank: 63
DFAT Omega Ratio Rank: 57
DFAT Calmar Ratio Rank: 70
DFAT Martin Ratio Rank: 62

DFUVX

DFUVX Risk / Return Rank: 91
DFUVX Sharpe Ratio Rank: 92
DFUVX Sortino Ratio Rank: 89
DFUVX Omega Ratio Rank: 83
DFUVX Calmar Ratio Rank: 96
DFUVX Martin Ratio Rank: 95

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. DFUVX - 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. Large Cap Value III Portfolio (DFUVX). 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	DFUVX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.88	-0.96
Sortino ratio: Return per unit of downside risk	2.82	4.03	-1.21
Omega ratio: Gain probability vs. loss probability	1.34	1.51	-0.17
Calmar ratio: Return relative to maximum drawdown	3.37	5.60	-2.22
Martin ratio: Return relative to average drawdown	10.82	20.28	-9.46

DFAT vs. DFUVX - Sharpe Ratio Comparison

The current DFAT Sharpe Ratio is 1.92, which is lower than the DFUVX Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of DFAT and DFUVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DFAT vs. DFUVX - Drawdown Comparison

The maximum DFAT drawdown since its inception was -26.12%, smaller than the maximum DFUVX drawdown of -65.60%. Use the drawdown chart below to compare losses from any high point for DFAT and DFUVX.

Drawdown Indicators

	DFAT	DFUVX	Difference
Max Drawdown Largest peak-to-trough decline	-26.12%	-65.60%	+39.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-5.85%	-3.70%
Max Drawdown (3Y) Largest decline over 3 years	-26.12%	-17.04%	-9.08%
Max Drawdown (5Y) Largest decline over 5 years	-26.12%	-20.33%	-5.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.76%	—
Current Drawdown Current decline from peak	-1.47%	-1.28%	-0.19%
Average Drawdown Average peak-to-trough decline	-6.24%	-9.83%	+3.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	1.61%	+1.36%

Volatility

DFAT vs. DFUVX - Volatility Comparison

Dimensional U.S. Targeted Value ETF (DFAT) and DFA U.S. Large Cap Value III Portfolio (DFUVX) have volatilities of 3.88% and 3.78%, 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

	DFAT	DFUVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	3.78%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	10.91%	8.46%	+2.45%
Volatility (1Y) Calculated over the trailing 1-year period	16.80%	11.35%	+5.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	15.95%	+5.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.44%	18.41%	+3.03%

DFAT vs. DFUVX - Expense Ratio Comparison

DFAT has a 0.28% expense ratio, which is higher than DFUVX's 0.14% expense ratio.

Dividends

DFAT vs. DFUVX - Dividend Comparison

DFAT's dividend yield for the trailing twelve months is around 1.42%, less than DFUVX's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAT Dimensional U.S. Targeted Value ETF	1.42%	1.55%	1.31%	1.34%	1.34%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFUVX DFA U.S. Large Cap Value III Portfolio	1.51%	1.31%	1.94%	5.68%	5.84%	1.77%	2.09%	5.04%	9.79%	7.99%	4.90%	8.03%

Frequently Asked Questions

Can I hold both DFAT and DFUVX in my portfolio?

DFAT and DFUVX have a correlation of 0.87, 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 DFUVX?

DFAT has higher volatility (3.88%) compared to DFUVX (3.78%). In terms of maximum drawdown, DFAT dropped -26.12% vs DFUVX's -65.60%.

Which has better risk-adjusted returns?

DFUVX currently has the higher Sharpe Ratio (2.88 vs 1.92), 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.