DFAT vs. SMVSX

Last updated Apr 1, 2026

Compare and contrast key facts about Dimensional U.S. Targeted Value ETF (DFAT) and Invesco Small Cap Value Fund Class R6 (SMVSX).

DFAT is an actively managed fund by Dimensional. It was launched on Jun 14, 2021. SMVSX is a passively managed fund by Invesco that tracks the performance of the Russell 2000 Value Index. It was launched on Feb 7, 2017.

Performance

DFAT vs. SMVSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional U.S. Targeted Value ETF (DFAT) and Invesco Small Cap Value Fund Class R6 (SMVSX). The values are adjusted to include any dividend payments, if applicable.

DFAT vs. SMVSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFAT Dimensional U.S. Targeted Value ETF	5.24%	8.73%	7.80%	20.86%	-6.23%	5.08%
SMVSX Invesco Small Cap Value Fund Class R6	6.65%	18.12%	25.01%	23.40%	4.70%	0.82%

Returns By Period

In the year-to-date period, DFAT achieves a 5.24% return, which is significantly lower than SMVSX's 6.65% return.

DFAT

• 1D: 2.01%
• 1M: -3.73%
• YTD: 5.24%
• 6M: 8.08%
• 1Y: 23.33%
• 3Y*: 13.66%
• 5Y*: —
• 10Y*: —

SMVSX

• 1D: -1.88%
• 1M: -10.11%
• YTD: 6.65%
• 6M: 14.02%
• 1Y: 33.79%
• 3Y*: 24.85%
• 5Y*: 17.71%
• 10Y*: —

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

DFAT vs. SMVSX - Expense Ratio Comparison

DFAT has a 0.28% expense ratio, which is lower than SMVSX's 0.72% expense ratio.

SMVSX

Invesco Small Cap Value Fund Class R6

DFAT

Dimensional U.S. Targeted Value ETF

Return for Risk

DFAT vs. SMVSX — Risk / Return Rank

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

DFAT

DFAT Risk / Return Rank: 63
DFAT Sharpe Ratio Rank: 62
DFAT Sortino Ratio Rank: 64
DFAT Omega Ratio Rank: 62
DFAT Calmar Ratio Rank: 66
DFAT Martin Ratio Rank: 63

SMVSX

SMVSX Risk / Return Rank: 71
SMVSX Sharpe Ratio Rank: 73
SMVSX Sortino Ratio Rank: 72
SMVSX Omega Ratio Rank: 69
SMVSX Calmar Ratio Rank: 71
SMVSX Martin Ratio Rank: 68

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. SMVSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional U.S. Targeted Value ETF (DFAT) and Invesco Small Cap Value Fund Class R6 (SMVSX). 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	SMVSX	Difference
Sharpe ratio Return per unit of total volatility	1.05	1.30	-0.25
Sortino ratio Return per unit of downside risk	1.57	1.81	-0.23
Omega ratio Gain probability vs. loss probability	1.22	1.26	-0.04
Calmar ratio Return relative to maximum drawdown	1.60	1.67	-0.06
Martin ratio Return relative to average drawdown	5.87	6.48	-0.60
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. SMVSX - Sharpe Ratio Comparison

The current DFAT Sharpe Ratio is 1.05, which is comparable to the SMVSX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of DFAT and SMVSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DFAT	SMVSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	1.30	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.53	-0.15

Correlation

The correlation between DFAT and SMVSX is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DFAT vs. SMVSX - Dividend Comparison

DFAT's dividend yield for the trailing twelve months is around 1.56%, less than SMVSX's 8.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFAT Dimensional U.S. Targeted Value ETF	1.56%	1.55%	1.31%	1.34%	1.34%	1.13%	0.00%	0.00%	0.00%	0.00%
SMVSX Invesco Small Cap Value Fund Class R6	8.01%	8.54%	7.42%	4.78%	9.57%	15.80%	0.48%	2.36%	26.72%	15.91%

Drawdowns

DFAT vs. SMVSX - Drawdown Comparison

The maximum DFAT drawdown since its inception was -26.12%, smaller than the maximum SMVSX drawdown of -57.41%. Use the drawdown chart below to compare losses from any high point for DFAT and SMVSX.

Drawdown Indicators

	DFAT	SMVSX	Difference
Max Drawdown Largest peak-to-trough decline	-26.12%	-57.41%	+31.29%
Max Drawdown (1Y) Largest decline over 1 year	-14.60%	-16.59%	+1.99%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.23%	—
Current Drawdown Current decline from peak	-6.07%	-11.39%	+5.32%
Average Drawdown Average peak-to-trough decline	-6.42%	-8.70%	+2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	4.48%	-0.49%

Volatility

DFAT vs. SMVSX - Volatility Comparison

The current volatility for Dimensional U.S. Targeted Value ETF (DFAT) is 5.24%, while Invesco Small Cap Value Fund Class R6 (SMVSX) has a volatility of 8.29%. This indicates that DFAT experiences smaller price fluctuations and is considered to be less risky than SMVSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAT	SMVSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.24%	8.29%	-3.05%
Volatility (6M) Calculated over the trailing 6-month period	12.13%	16.60%	-4.47%
Volatility (1Y) Calculated over the trailing 1-year period	22.40%	25.75%	-3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.72%	23.13%	-1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.72%	27.15%	-5.43%