DFCA vs. DRLL
DFCA (Dimensional California Municipal Bond ETF) and DRLL (Strive U.S. Energy ETF) are both exchange-traded funds - DFCA is a Municipal Bonds fund actively managed by Dimensional, while DRLL is a Energy Equities fund tracking the Bloomberg US Energy Select Index. DFCA is actively managed, while DRLL is passively managed. Over the past 3 years, DFCA returned 2.56%/yr vs 12.03%/yr for DRLL. Their -0.12 correlation means they have often moved in opposite directions in the past. DFCA charges 0.19%/yr vs 0.41%/yr for DRLL.
Performance
DFCA vs. DRLL - Performance Comparison
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Returns By Period
In the year-to-date period, DFCA achieves a 0.46% return, which is significantly lower than DRLL's 33.53% return.
DFCA
- 1D
- 0.14%
- 1M
- -0.98%
- 6M
- -0.37%
- YTD
- 0.46%
- 1Y
- 3.44%
- 3Y*
- 2.56%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.45%
DRLL
- 1D
- -1.05%
- 1M
- 11.55%
- 6M
- 17.30%
- YTD
- 33.53%
- 1Y
- 41.89%
- 3Y*
- 12.03%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.61M | $2.41M | $2.81M | |
| $455.44K | $502.20K | $532.52K |
DFCA vs. DRLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFCA Dimensional California Municipal Bond ETF | 0.46% | 2.99% | 1.49% | 2.68% |
DRLL Strive U.S. Energy ETF | 33.53% | 7.74% | 0.02% | 6.97% |
Correlation
The correlation between DFCA and DRLL is -0.33, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.33 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | -0.12 |
Over the past year, the inverse relationship between DFCA and DRLL has strengthened: their correlation has moved from -0.12 to -0.33, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
DFCA vs. DRLL — Risk / Return Rank
DFCA
DRLL
DFCA vs. DRLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional California Municipal Bond ETF (DFCA) and Strive U.S. Energy ETF (DRLL). 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.
| DFCA | DRLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.30 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.48 | -0.52 |
| Martin ratioReturn relative to average drawdown | 5.62 | 6.29 | -0.66 |
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Drawdowns
DFCA vs. DRLL - Drawdown Comparison
The maximum DFCA drawdown since its inception was -3.28%, smaller than the maximum DRLL drawdown of -23.73%. Use the drawdown chart below to compare losses from any high point for DFCA and DRLL.
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Drawdown Indicators
| DFCA | DRLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -23.73% | +20.45% |
Max Drawdown (1Y)Largest decline over 1 year | -1.77% | -16.99% | +15.22% |
Max Drawdown (3Y)Largest decline over 3 years | -3.28% | -23.73% | +20.45% |
Current DrawdownCurrent decline from peak | -1.12% | -6.51% | +5.39% |
Average DrawdownAverage peak-to-trough decline | -0.69% | -8.14% | +7.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 6.68% | -6.07% |
Volatility
DFCA vs. DRLL - Volatility Comparison
The current volatility for Dimensional California Municipal Bond ETF (DFCA) is 0.71%, while Strive U.S. Energy ETF (DRLL) has a volatility of 7.12%. This indicates that DFCA experiences smaller price fluctuations and is considered to be less risky than DRLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFCA | DRLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 7.12% | -6.41% |
Volatility (6M)Calculated over the trailing 6-month period | 1.45% | 18.68% | -17.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.82% | 22.97% | -21.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.46% | 23.79% | -21.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.46% | 23.79% | -21.33% |
DFCA vs. DRLL - Expense Ratio Comparison
DFCA has a 0.19% expense ratio, which is lower than DRLL's 0.41% expense ratio.
Dividends
DFCA vs. DRLL - Dividend Comparison
DFCA's dividend yield for the trailing twelve months is around 2.76%, more than DRLL's 2.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DFCA Dimensional California Municipal Bond ETF | 2.76% | 2.86% | 2.86% | 1.24% | 0.00% |
DRLL Strive U.S. Energy ETF | 2.27% | 2.99% | 3.00% | 3.01% | 1.18% |
Frequently Asked Questions
DFCA and DRLL have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRLL has higher volatility (7.12%) compared to DFCA (0.71%). In terms of maximum drawdown, DFCA dropped -3.28% vs DRLL's -23.73%.
On 3-year performance, DRLL leads with 12.03% vs 2.56% for DFCA. On fees, DFCA is cheaper at 0.19% per year. On volatility, DFCA has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DRLL has performed better with a 12.03% return vs 2.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFCA is cheaper with a 0.19% expense ratio, compared with 0.41% for DRLL.
DFCA has the higher dividend yield at 2.76%, compared with 2.27% for DRLL.
DFCA is categorized as Municipal Bonds, while DRLL is Energy Equities. They also come from different issuers: Dimensional and Strive. Their fees differ too: 0.19% for DFCA and 0.41% for DRLL.
DFCA currently has the higher Sharpe Ratio (1.91 vs 1.83), 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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