DFAX vs. DISV

Last updated Jun 5, 2026

DFAX (Dimensional World ex US Core Equity 2 ETF) and DISV (Dimensional International Small Cap Value ETF) are both exchange-traded funds - DFAX is a Foreign Large Cap Equities fund tracking the MSCI All Country World ex USA Index, while DISV is a Foreign Small & Mid Cap Equities fund actively managed by Dimensional. DFAX is passively managed, while DISV is actively managed. Over the past 3 years, DFAX returned 21.17%/yr vs 25.07%/yr for DISV. Their correlation of 0.93 suggests significant overlap in exposure. DFAX charges 0.30%/yr vs 0.42%/yr for DISV.

Performance

DFAX vs. DISV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional World ex US Core Equity 2 ETF (DFAX) and Dimensional International Small Cap Value ETF (DISV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFAX achieves a 15.50% return, which is significantly higher than DISV's 12.07% return.

DFAX

• 1D: 0.24%
• 1M: 2.61%
• YTD: 15.50%
• 6M: 18.24%
• 1Y: 34.48%
• 3Y*: 21.17%
• 5Y*: —
• 10Y*: —

DISV

• 1D: 1.12%
• 1M: 3.45%
• YTD: 12.07%
• 6M: 16.30%
• 1Y: 35.13%
• 3Y*: 25.07%
• 5Y*: —
• 10Y*: —

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

DFAX vs. DISV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFAX Dimensional World ex US Core Equity 2 ETF	15.50%	35.42%	4.78%	16.66%	-10.92%
DISV Dimensional International Small Cap Value ETF	12.07%	47.42%	5.87%	19.52%	-9.72%

Correlation

The correlation between DFAX and DISV is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 25, 2022	0.93

The correlation between DFAX and DISV has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

DFAX vs. DISV - Sectors Allocation Comparison

Sectors	DFAX	DISV
Financial Services	17.9%	18.6%
Industrials	16.1%	18.1%
Basic Materials	13.2%	18.3%
Technology	10.9%	4.1%
Consumer Cyclical	10.9%	15.3%
Energy	6.6%	9.2%
Healthcare	5.6%	3.0%
Utilities	4.2%	2.6%
Consumer Defensive	3.9%	4.3%
Communication Services	3.5%	3.4%
Real Estate	3.1%	3.2%

Return for Risk

DFAX vs. DISV — Risk / Return Rank

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

DFAX

DFAX Risk / Return Rank: 70
DFAX Sharpe Ratio Rank: 73
DFAX Sortino Ratio Rank: 70
DFAX Omega Ratio Rank: 73
DFAX Calmar Ratio Rank: 64
DFAX Martin Ratio Rank: 68

DISV

DISV Risk / Return Rank: 69
DISV Sharpe Ratio Rank: 76
DISV Sortino Ratio Rank: 76
DISV Omega Ratio Rank: 74
DISV Calmar Ratio Rank: 57
DISV Martin Ratio Rank: 60

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.

DFAX vs. DISV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional World ex US Core Equity 2 ETF (DFAX) and Dimensional International Small Cap Value ETF (DISV). 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.

	DFAX	DISV	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.44	-0.10
Sortino ratio: Return per unit of downside risk	3.14	3.35	-0.21
Omega ratio: Gain probability vs. loss probability	1.43	1.43	-0.01
Calmar ratio: Return relative to maximum drawdown	3.12	2.78	+0.34
Martin ratio: Return relative to average drawdown	12.33	10.50	+1.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAX vs. DISV - Sharpe Ratio Comparison

The current DFAX Sharpe Ratio is 2.34, which is comparable to the DISV Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of DFAX and DISV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFAX	DISV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.44	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.95	-0.30

Drawdowns

DFAX vs. DISV - Drawdown Comparison

The maximum DFAX drawdown since its inception was -28.15%, which is greater than DISV's maximum drawdown of -26.77%. Use the drawdown chart below to compare losses from any high point for DFAX and DISV.

Drawdown Indicators

	DFAX	DISV	Difference
Max Drawdown Largest peak-to-trough decline	-28.15%	-26.77%	-1.38%
Max Drawdown (1Y) Largest decline over 1 year	-11.11%	-12.69%	+1.58%
Max Drawdown (3Y) Largest decline over 3 years	-13.89%	-14.15%	+0.26%
Current Drawdown Current decline from peak	-0.76%	-1.40%	+0.64%
Average Drawdown Average peak-to-trough decline	-6.67%	-4.90%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	3.35%	-0.55%

Volatility

DFAX vs. DISV - Volatility Comparison

Dimensional World ex US Core Equity 2 ETF (DFAX) has a higher volatility of 5.10% compared to Dimensional International Small Cap Value ETF (DISV) at 4.19%. This indicates that DFAX's price experiences larger fluctuations and is considered to be riskier than DISV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAX	DISV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	4.19%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	12.67%	11.72%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	14.82%	14.45%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	17.36%	-1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.98%	17.36%	-1.38%

DFAX vs. DISV - Expense Ratio Comparison

DFAX has a 0.30% expense ratio, which is lower than DISV's 0.42% expense ratio.

Dividends

DFAX vs. DISV - Dividend Comparison

DFAX's dividend yield for the trailing twelve months is around 2.21%, less than DISV's 2.36% yield.

Position	TTM	2025	2024	2023	2022	2021
DFAX Dimensional World ex US Core Equity 2 ETF	2.21%	2.58%	2.98%	3.01%	3.30%	1.40%
DISV Dimensional International Small Cap Value ETF	2.36%	2.69%	2.77%	2.73%	1.23%	0.00%

Frequently Asked Questions

Can I hold both DFAX and DISV in my portfolio?

With a correlation of 0.91, DFAX and DISV 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, DFAX or DISV?

DFAX has higher volatility (5.10%) compared to DISV (4.19%). In terms of maximum drawdown, DFAX dropped -28.15% vs DISV's -26.77%.

Which ETF is better, DFAX or DISV?

On 3-year performance, DISV leads with 25.07% vs 21.17% for DFAX. On fees, DFAX is cheaper at 0.30% per year. On volatility, DISV has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAX or DISV?

Over the 3-year period, DISV has performed better with a 25.07% return vs 21.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAX or DISV?

DFAX is cheaper with a 0.30% expense ratio, compared with 0.42% for DISV.

Which ETF pays a higher dividend yield, DFAX or DISV?

DISV has the higher dividend yield at 2.36%, compared with 2.21% for DFAX.

What is the main difference between DFAX and DISV?

DFAX is categorized as Foreign Large Cap Equities, while DISV is Foreign Small & Mid Cap Equities. Their fees differ too: 0.30% for DFAX and 0.42% for DISV.

Which has better risk-adjusted returns?

DISV currently has the higher Sharpe Ratio (2.44 vs 2.34), 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.