DFAW vs. AVGE

Last updated Jun 24, 2026

DFAW (Dimensional World Equity ETF) and AVGE (Avantis All Equity Markets ETF) are both Global Equities funds. Both are actively managed. Over the past year, DFAW returned 26.81% vs 31.75% for AVGE. With a 0.97 correlation, they move nearly in lockstep. DFAW charges 0.25%/yr vs 0.23%/yr for AVGE.

Performance

DFAW vs. AVGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional World Equity ETF (DFAW) and Avantis All Equity Markets ETF (AVGE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFAW achieves a 10.74% return, which is significantly lower than AVGE's 14.80% return.

DFAW

• 1D: -1.93%
• 1M: -0.34%
• YTD: 10.74%
• 6M: 9.89%
• 1Y: 26.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVGE

• 1D: -1.67%
• 1M: 0.73%
• YTD: 14.80%
• 6M: 13.90%
• 1Y: 31.75%
• 3Y*: 21.09%
• 5Y*: —
• 10Y*: —

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

DFAW vs. AVGE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFAW Dimensional World Equity ETF	10.74%	20.62%	15.49%	11.44%
AVGE Avantis All Equity Markets ETF	14.80%	20.84%	13.96%	12.12%

Correlation

The correlation between DFAW and AVGE is 0.97 - 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	0.97
Correlation (All Time) Calculated using the full available price history since Sep 27, 2023	0.97

The correlation between DFAW and AVGE has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

DFAW vs. AVGE - Sectors Allocation Comparison

Sectors	DFAW	AVGE
Technology	27.0%	21.5%
Financial Services	14.8%	17.5%
Industrials	13.4%	13.4%
Consumer Cyclical	10.1%	11.8%
Healthcare	8.0%	5.8%
Communication Services	7.0%	6.7%
Energy	5.5%	8.2%
Basic Materials	5.0%	5.2%
Consumer Defensive	4.8%	4.5%
Real Estate	2.3%	3.3%
Utilities	2.2%	2.0%

Return for Risk

DFAW vs. AVGE — Risk / Return Rank

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

DFAW

DFAW Risk / Return Rank: 67
DFAW Sharpe Ratio Rank: 67
DFAW Sortino Ratio Rank: 65
DFAW Omega Ratio Rank: 67
DFAW Calmar Ratio Rank: 64
DFAW Martin Ratio Rank: 73

AVGE

AVGE Risk / Return Rank: 79
AVGE Sharpe Ratio Rank: 80
AVGE Sortino Ratio Rank: 79
AVGE Omega Ratio Rank: 78
AVGE Calmar Ratio Rank: 75
AVGE Martin Ratio Rank: 81

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.

DFAW vs. AVGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional World Equity ETF (DFAW) and Avantis All Equity Markets ETF (AVGE). 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.

	DFAW	AVGE	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.43	-0.32
Sortino ratio: Return per unit of downside risk	2.88	3.32	-0.44
Omega ratio: Gain probability vs. loss probability	1.38	1.44	-0.06
Calmar ratio: Return relative to maximum drawdown	3.03	3.71	-0.68
Martin ratio: Return relative to average drawdown	13.17	15.65	-2.48

DFAW vs. AVGE - Sharpe Ratio Comparison

The current DFAW Sharpe Ratio is 2.11, which is comparable to the AVGE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of DFAW and AVGE, 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

DFAW vs. AVGE - Drawdown Comparison

The maximum DFAW drawdown since its inception was -16.93%, roughly equal to the maximum AVGE drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for DFAW and AVGE.

Drawdown Indicators

	DFAW	AVGE	Difference
Max Drawdown Largest peak-to-trough decline	-16.93%	-17.13%	+0.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-8.60%	-0.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.13%	—
Current Drawdown Current decline from peak	-2.47%	-1.94%	-0.53%
Average Drawdown Average peak-to-trough decline	-1.70%	-2.40%	+0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.03%	+0.01%

Volatility

DFAW vs. AVGE - Volatility Comparison

Dimensional World Equity ETF (DFAW) and Avantis All Equity Markets ETF (AVGE) have volatilities of 5.21% and 5.07%, 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

	DFAW	AVGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	5.07%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	10.58%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.82%	13.15%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.61%	15.28%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.61%	15.28%	-0.67%

DFAW vs. AVGE - Expense Ratio Comparison

DFAW has a 0.25% expense ratio, which is higher than AVGE's 0.23% 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

DFAW vs. AVGE - Dividend Comparison

DFAW's dividend yield for the trailing twelve months is around 1.57%, less than AVGE's 2.14% yield.

Position	TTM	2025	2024	2023	2022
AVGE Avantis All Equity Markets ETF	2.14%	1.67%	1.92%	1.93%	0.74%
DFAW Dimensional World Equity ETF	1.57%	1.71%	1.47%	0.42%	0.00%

Frequently Asked Questions

Can I hold both DFAW and AVGE in my portfolio?

With a correlation of 0.97, DFAW and AVGE 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, DFAW or AVGE?

DFAW has higher volatility (5.21%) compared to AVGE (5.07%). In terms of maximum drawdown, DFAW dropped -16.93% vs AVGE's -17.13%.

Which ETF is better, DFAW or AVGE?

On 1-year performance, AVGE leads with 31.75% vs 26.81% for DFAW. On fees, AVGE is cheaper at 0.23% per year. On volatility, AVGE has been the lower-risk option at 5.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAW or AVGE?

Over the 1-year period, AVGE has performed better with a 31.75% return vs 26.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAW or AVGE?

AVGE is cheaper with a 0.23% expense ratio, compared with 0.25% for DFAW.

Which ETF pays a higher dividend yield, DFAW or AVGE?

AVGE has the higher dividend yield at 2.14%, compared with 1.57% for DFAW.

What is the main difference between DFAW and AVGE?

They also come from different issuers: Dimensional and Avantis. Their fees differ too: 0.25% for DFAW and 0.23% for AVGE.

Which has better risk-adjusted returns?

AVGE currently has the higher Sharpe Ratio (2.43 vs 2.11), 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.