DFAW vs. SHEH

Last updated Aug 4, 2026

DFAW (Dimensional World Equity ETF) and SHEH (Shell plc ADRhedged ETF) are both exchange-traded funds - DFAW is a Global Equities fund actively managed by Dimensional, while SHEH is a Energy Equities fund tracking the Shell plc - Benchmark Price Return. DFAW is actively managed, while SHEH is passively managed. Over the past year, DFAW returned 27.45% vs 27.83% for SHEH. Their -0.03 correlation means they have often moved in opposite directions in the past. DFAW charges 0.25%/yr vs 0.19%/yr for SHEH.

Performance

DFAW vs. SHEH - Performance Comparison

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

Returns By Period

In the year-to-date period, DFAW achieves a 14.45% return, which is significantly lower than SHEH's 25.14% return.

DFAW

• 1D: 1.40%
• 1M: 1.61%
• 6M: 9.82%
• YTD: 14.45%
• 1Y: 27.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.35%

SHEH

• 1D: -0.63%
• 1M: 15.58%
• 6M: 23.06%
• YTD: 25.14%
• 1Y: 27.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFAW Dimensional World Equity ETF	$6.19M	$6.32M	$7.79M
SHEH Shell plc ADRhedged ETF	$782.03K	$668.74K	$325.26K

DFAW vs. SHEH - Yearly Performance Comparison

	2026 (YTD)	2025
DFAW Dimensional World Equity ETF	14.45%	28.08%
SHEH Shell plc ADRhedged ETF	25.14%	12.63%

Correlation

The correlation between DFAW and SHEH is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	-0.03

DFAW vs. SHEH - Sectors Allocation Comparison

Sectors	DFAW	SHEH
Technology	26.3%	-
Financial Services	15.7%	-
Industrials	13.7%	-
Consumer Cyclical	9.9%	-
Healthcare	8.7%	-
Communication Services	6.4%	-
Energy	5.1%	96.5%
Consumer Defensive	4.9%	-
Basic Materials	4.8%	-
Real Estate	2.3%	-
Utilities	2.2%	-

Return for Risk

DFAW vs. SHEH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFAW

DFAW Risk / Return Rank: 86
DFAW Sharpe Ratio Rank: 88
DFAW Sortino Ratio Rank: 87
DFAW Omega Ratio Rank: 87
DFAW Calmar Ratio Rank: 83
DFAW Martin Ratio Rank: 88

SHEH

SHEH Risk / Return Rank: 44
SHEH Sharpe Ratio Rank: 48
SHEH Sortino Ratio Rank: 46
SHEH Omega Ratio Rank: 45
SHEH Calmar Ratio Rank: 41
SHEH Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFAW vs. SHEH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional World Equity ETF (DFAW) and Shell plc ADRhedged ETF (SHEH). 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	SHEH	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.33	+0.81
Sortino ratio: Return per unit of downside risk	2.95	1.86	+1.09
Omega ratio: Gain probability vs. loss probability	1.39	1.23	+0.16
Calmar ratio: Return relative to maximum drawdown	3.10	1.59	+1.51
Martin ratio: Return relative to average drawdown	13.38	4.35	+9.04

DFAW vs. SHEH - Sharpe Ratio Comparison

The current DFAW Sharpe Ratio is 2.15, which is higher than the SHEH Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of DFAW and SHEH, 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. SHEH - Drawdown Comparison

The maximum DFAW drawdown since its inception was -16.93%, roughly equal to the maximum SHEH drawdown of -17.53%. Use the drawdown chart below to compare losses from any high point for DFAW and SHEH.

Drawdown Indicators

	DFAW	SHEH	Difference
Max Drawdown Largest peak-to-trough decline	-16.93%	-17.53%	+0.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-17.53%	+8.65%
Current Drawdown Current decline from peak	0.00%	-3.52%	+3.52%
Average Drawdown Average peak-to-trough decline	-1.67%	-4.14%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	6.41%	-4.35%

Volatility

DFAW vs. SHEH - Volatility Comparison

The current volatility for Dimensional World Equity ETF (DFAW) is 3.60%, while Shell plc ADRhedged ETF (SHEH) has a volatility of 6.85%. This indicates that DFAW experiences smaller price fluctuations and is considered to be less risky than SHEH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAW	SHEH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	6.85%	-3.25%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	17.33%	-6.81%
Volatility (1Y) Calculated over the trailing 1-year period	12.88%	21.00%	-8.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.46%	20.53%	-6.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.46%	20.53%	-6.07%

DFAW vs. SHEH - Expense Ratio Comparison

DFAW has a 0.25% expense ratio, which is higher than SHEH's 0.19% 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. SHEH - Dividend Comparison

DFAW's dividend yield for the trailing twelve months is around 1.55%, less than SHEH's 1.86% yield.

Position	TTM	2025	2024	2023
DFAW Dimensional World Equity ETF	1.55%	1.71%	1.47%	0.42%
SHEH Shell plc ADRhedged ETF	1.86%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFAW and SHEH in my portfolio?

DFAW and SHEH have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFAW or SHEH?

SHEH has higher volatility (6.85%) compared to DFAW (3.60%). In terms of maximum drawdown, DFAW dropped -16.93% vs SHEH's -17.53%.

Which ETF is better, DFAW or SHEH?

On 1-year performance, SHEH leads with 27.83% vs 27.45% for DFAW. On fees, SHEH is cheaper at 0.19% per year. On volatility, DFAW has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAW or SHEH?

Over the 1-year period, SHEH has performed better with a 27.83% return vs 27.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAW or SHEH?

SHEH is cheaper with a 0.19% expense ratio, compared with 0.25% for DFAW.

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

SHEH has the higher dividend yield at 1.86%, compared with 1.55% for DFAW.

What is the main difference between DFAW and SHEH?

DFAW is categorized as Global Equities, while SHEH is Energy Equities. They also come from different issuers: Dimensional and ADRhedged. Their fees differ too: 0.25% for DFAW and 0.19% for SHEH.

Which has better risk-adjusted returns?

DFAW currently has the higher Sharpe Ratio (2.15 vs 1.33), 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.