DFAU vs. DFAC

Last updated Jun 24, 2026

DFAU (Dimensional US Core Equity Market ETF) and DFAC (Dimensional U.S. Core Equity 2 ETF) are both Large Cap Blend Equities funds from Dimensional. Both are actively managed. Over the past 5 years, DFAU returned 12.38%/yr vs 11.69%/yr for DFAC. With a 0.98 correlation, they move nearly in lockstep. DFAU charges 0.12%/yr vs 0.17%/yr for DFAC.

Performance

DFAU vs. DFAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Core Equity Market ETF (DFAU) and Dimensional U.S. Core Equity 2 ETF (DFAC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFAU achieves a 8.85% return, which is significantly lower than DFAC's 10.46% return.

DFAU

• 1D: -1.55%
• 1M: -0.82%
• YTD: 8.85%
• 6M: 7.70%
• 1Y: 24.46%
• 3Y*: 20.24%
• 5Y*: 12.38%
• 10Y*: —

DFAC

• 1D: -1.29%
• 1M: 0.07%
• YTD: 10.46%
• 6M: 9.33%
• 1Y: 25.95%
• 3Y*: 19.52%
• 5Y*: 11.69%
• 10Y*: —

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

DFAU vs. DFAC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFAU Dimensional US Core Equity Market ETF	8.85%	16.78%	23.17%	24.79%	-16.99%	10.77%
DFAC Dimensional U.S. Core Equity 2 ETF	10.46%	15.66%	19.61%	21.96%	-14.93%	9.55%

Correlation

The correlation between DFAU and DFAC is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.98

The correlation between DFAU and DFAC has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

DFAU vs. DFAC - Sectors Allocation Comparison

Sectors	DFAU	DFAC
Technology	36.0%	31.2%
Financial Services	12.1%	13.8%
Consumer Cyclical	10.6%	10.6%
Industrials	10.1%	12.4%
Communication Services	9.8%	7.8%
Healthcare	8.3%	9.1%
Consumer Defensive	4.4%	4.7%
Energy	4.1%	5.3%
Basic Materials	2.4%	3.2%
Utilities	2.3%	1.8%
Real Estate	0.1%	0.2%

Return for Risk

DFAU vs. DFAC — Risk / Return Rank

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

DFAU

DFAU Risk / Return Rank: 62
DFAU Sharpe Ratio Rank: 61
DFAU Sortino Ratio Rank: 58
DFAU Omega Ratio Rank: 59
DFAU Calmar Ratio Rank: 60
DFAU Martin Ratio Rank: 70

DFAC

DFAC Risk / Return Rank: 66
DFAC Sharpe Ratio Rank: 66
DFAC Sortino Ratio Rank: 64
DFAC Omega Ratio Rank: 63
DFAC Calmar Ratio Rank: 64
DFAC Martin Ratio Rank: 74

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.

DFAU vs. DFAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Core Equity Market ETF (DFAU) and Dimensional U.S. Core Equity 2 ETF (DFAC). 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.

	DFAU	DFAC	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.07	-0.13
Sortino ratio: Return per unit of downside risk	2.63	2.84	-0.21
Omega ratio: Gain probability vs. loss probability	1.35	1.37	-0.02
Calmar ratio: Return relative to maximum drawdown	2.83	3.07	-0.24
Martin ratio: Return relative to average drawdown	12.54	13.40	-0.85

DFAU vs. DFAC - Sharpe Ratio Comparison

The current DFAU Sharpe Ratio is 1.93, which is comparable to the DFAC Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of DFAU and DFAC, 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

DFAU vs. DFAC - Drawdown Comparison

The maximum DFAU drawdown since its inception was -23.61%, roughly equal to the maximum DFAC drawdown of -23.12%. Use the drawdown chart below to compare losses from any high point for DFAU and DFAC.

Drawdown Indicators

	DFAU	DFAC	Difference
Max Drawdown Largest peak-to-trough decline	-23.61%	-23.12%	-0.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.67%	-8.49%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-19.36%	-20.02%	+0.66%
Max Drawdown (5Y) Largest decline over 5 years	-23.61%	-23.12%	-0.49%
Current Drawdown Current decline from peak	-2.87%	-2.07%	-0.80%
Average Drawdown Average peak-to-trough decline	-4.96%	-5.40%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.94%	+0.01%

Volatility

DFAU vs. DFAC - Volatility Comparison

Dimensional US Core Equity Market ETF (DFAU) has a higher volatility of 4.95% compared to Dimensional U.S. Core Equity 2 ETF (DFAC) at 4.56%. This indicates that DFAU's price experiences larger fluctuations and is considered to be riskier than DFAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAU	DFAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	4.56%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	9.73%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	12.72%	12.64%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	17.15%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	17.14%	-0.36%

DFAU vs. DFAC - Expense Ratio Comparison

DFAU has a 0.12% expense ratio, which is lower than DFAC's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFAU vs. DFAC - Dividend Comparison

DFAU's dividend yield for the trailing twelve months is around 0.92%, which matches DFAC's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAC Dimensional U.S. Core Equity 2 ETF	0.68%	0.97%	1.03%	1.20%	1.50%	0.88%	0.00%
DFAU Dimensional US Core Equity Market ETF	0.69%	0.95%	1.10%	1.29%	1.40%	1.00%	0.13%

Frequently Asked Questions

Can I hold both DFAU and DFAC in my portfolio?

With a correlation of 0.98, DFAU and DFAC 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, DFAU or DFAC?

DFAU has higher volatility (4.95%) compared to DFAC (4.56%). In terms of maximum drawdown, DFAU dropped -23.61% vs DFAC's -23.12%.

Which ETF is better, DFAU or DFAC?

On 5-year performance, DFAU leads with 12.38% vs 11.69% for DFAC. On fees, DFAU is cheaper at 0.12% per year. On volatility, DFAC has been the lower-risk option at 4.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAU or DFAC?

Over the 5-year period, DFAU has performed better with a 12.38% return vs 11.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAU or DFAC?

DFAU is cheaper with a 0.12% expense ratio, compared with 0.17% for DFAC.

Which ETF pays a higher dividend yield, DFAU or DFAC?

DFAU and DFAC have nearly identical dividend yields, around 0.92%.

What is the main difference between DFAU and DFAC?

Their fees differ too: 0.12% for DFAU and 0.17% for DFAC.

Which has better risk-adjusted returns?

DFAC currently has the higher Sharpe Ratio (2.07 vs 1.93), 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.