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DFAU vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DFAU vs. VOO

Last updated Jun 23, 2026

DFAU (Dimensional US Core Equity Market ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - DFAU is a Large Cap Blend Equities fund actively managed by Dimensional, while VOO is a S&P 500 fund tracking the S&P 500 Index. DFAU is actively managed, while VOO is passively managed. Over the past 5 years, DFAU returned 12.88%/yr vs 13.58%/yr for VOO. With a 0.99 correlation, they move nearly in lockstep. DFAU charges 0.12%/yr vs 0.03%/yr for VOO.

Performance

DFAU vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Core Equity Market ETF (DFAU) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DFAU achieves a 10.57% return, which is significantly higher than VOO's 9.75% return.

DFAU

1D
-0.25%
1M
0.74%
YTD
10.57%
6M
9.77%
1Y
27.53%
3Y*
20.87%
5Y*
12.88%
10Y*
—

VOO

1D
-0.29%
1M
0.08%
YTD
9.75%
6M
9.30%
1Y
26.77%
3Y*
21.36%
5Y*
13.58%
10Y*
15.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DFAU vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
DFAU
Dimensional US Core Equity Market ETF		10.57%16.78%23.17%24.79%-16.99%26.89%4.87%
VOO
Vanguard S&P 500 ETF		9.75%17.82%24.98%26.32%-18.17%28.79%4.15%

Correlation

The correlation between DFAU and VOO 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 Nov 18, 2020

0.99

The correlation between DFAU and VOO has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

DFAU vs. VOO - Sectors Allocation Comparison

Sectors
DFAU
VOO

Technology

36.0%
39.1%

Financial Services

12.1%
10.9%

Consumer Cyclical

10.6%
9.8%

Industrials

10.1%
7.6%

Communication Services

9.8%
10.5%

Healthcare

8.3%
8.3%

Consumer Defensive

4.4%
4.5%

Energy

4.1%
3.2%

Basic Materials

2.4%
1.7%

Utilities

2.3%
2.5%

Real Estate

0.1%
1.8%

Technology

DFAU
36.0%
VOO
39.1%

Financial Services

DFAU
12.1%
VOO
10.9%

Consumer Cyclical

DFAU
10.6%
VOO
9.8%

Industrials

DFAU
10.1%
VOO
7.6%

Communication Services

DFAU
9.8%
VOO
10.5%

Healthcare

DFAU
8.3%
VOO
8.3%

Consumer Defensive

DFAU
4.4%
VOO
4.5%

Energy

DFAU
4.1%
VOO
3.2%

Basic Materials

DFAU
2.4%
VOO
1.7%

Utilities

DFAU
2.3%
VOO
2.5%

Real Estate

DFAU
0.1%
VOO
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Dimensional US Core Equity Market ETF

Vanguard S&P 500 ETF

Often compared with DFAU:
DFAU vs. AVUSDFAU vs. SPYDFAU vs. VTIDFAU vs. DFUSDFAU vs. SNPEDFAU vs. RSPDFAU vs. FBCG
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. VGT

Return for Risk

DFAU vs. VOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DFAU
DFAU Risk / Return Rank: 7070
Overall Rank
DFAU Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
DFAU Sortino Ratio Rank: 6868
Sortino Ratio Rank
DFAU Omega Ratio Rank: 6969
Omega Ratio Rank
DFAU Calmar Ratio Rank: 6666
Calmar Ratio Rank
DFAU Martin Ratio Rank: 7676
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 6868
Overall Rank
VOO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 6767
Sortino Ratio Rank
VOO Omega Ratio Rank: 6969
Omega Ratio Rank
VOO Calmar Ratio Rank: 6363
Calmar Ratio Rank
VOO Martin Ratio Rank: 7474
Martin Ratio Rank
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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Core Equity Market ETF (DFAU) and Vanguard S&P 500 ETF (VOO). 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.

DFAUVOODifference
Sharpe ratioReturn per unit of total volatility
2.19
2.17

+0.02

Sortino ratioReturn per unit of downside risk
2.96
2.93

+0.03

Omega ratioGain probability vs. loss probability

1.39

1.39

0.00

Calmar ratioReturn relative to maximum drawdown

3.19

3.02

+0.17

Martin ratioReturn relative to average drawdown

14.18

13.58

+0.60

DFAU vs. VOO - Sharpe Ratio Comparison

The current DFAU Sharpe Ratio is 2.19, which is comparable to the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of DFAU and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DFAU vs. VOO - Drawdown Comparison

The maximum DFAU drawdown since its inception was -23.61%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for DFAU and VOO.

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Drawdown Indicators

DFAUVOODifference

Max Drawdown

Largest peak-to-trough decline

-23.61%

-33.99%

+10.38%

Max Drawdown (1Y)

Largest decline over 1 year

-8.67%

-8.90%

+0.23%

Max Drawdown (3Y)

Largest decline over 3 years

-19.36%

-18.69%

-0.67%

Max Drawdown (5Y)

Largest decline over 5 years

-23.61%

-24.52%

+0.91%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.99%

—

Current Drawdown

Current decline from peak

-1.34%

-1.74%

+0.40%

Average Drawdown

Average peak-to-trough decline

-4.96%

-3.68%

-1.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.95%

1.98%

-0.03%

Volatility

DFAU vs. VOO - Volatility Comparison

Dimensional US Core Equity Market ETF (DFAU) and Vanguard S&P 500 ETF (VOO) have volatilities of 4.68% and 4.60%, 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.

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Volatility by Period

DFAUVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.68%

4.60%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

9.86%

9.73%

+0.13%

Volatility (1Y)

Calculated over the trailing 1-year period

12.64%

12.39%

+0.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.11%

16.90%

+0.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.77%

18.05%

-1.28%

DFAU vs. VOO - Expense Ratio Comparison

DFAU has a 0.12% expense ratio, which is higher than VOO's 0.03% expense ratio. However, 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. VOO - Dividend Comparison

DFAU's dividend yield for the trailing twelve months is around 0.90%, less than VOO's 1.04% yield.

PositionTTM20252024202320222021202020192018201720162015
DFAU
Dimensional US Core Equity Market ETF		0.90%0.95%1.10%1.29%1.40%1.00%0.13%0.00%0.00%0.00%0.00%0.00%
VOO
Vanguard S&P 500 ETF		1.04%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

With a correlation of 0.99, DFAU and VOO 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.

DFAU has higher volatility (4.68%) compared to VOO (4.60%). In terms of maximum drawdown, DFAU dropped -23.61% vs VOO's -33.99%.

On 5-year performance, VOO leads with 13.58% vs 12.88% for DFAU. On fees, VOO is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, VOO has performed better with a 13.58% return vs 12.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.12% for DFAU.

VOO has the higher dividend yield at 1.04%, compared with 0.90% for DFAU.

DFAU is categorized as Large Cap Blend Equities, while VOO is S&P 500. They also come from different issuers: Dimensional and Vanguard. Their fees differ too: 0.12% for DFAU and 0.03% for VOO.

DFAU currently has the higher Sharpe Ratio (2.19 vs 2.17), 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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