DFCEX vs. DFESX
DFCEX (DFA Emerging Markets Core Equity Fund) and DFESX (DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio) are both Emerging Markets Diversified funds. Over the past 10 years, DFCEX returned 11.09%/yr vs 11.15%/yr for DFESX. With a 1.00 correlation, they move nearly in lockstep. DFCEX charges 0.40%/yr vs 0.45%/yr for DFESX.
Performance
DFCEX vs. DFESX - Performance Comparison
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Returns By Period
In the year-to-date period, DFCEX achieves a 25.19% return, which is significantly lower than DFESX's 28.96% return. Both investments have delivered pretty close results over the past 10 years, with DFCEX having a 11.09% annualized return and DFESX not far ahead at 11.15%.
DFCEX
- 1D
- 0.78%
- 1M
- 7.67%
- YTD
- 25.19%
- 6M
- 27.73%
- 1Y
- 49.33%
- 3Y*
- 23.14%
- 5Y*
- 9.53%
- 10Y*
- 11.09%
DFESX
- 1D
- 0.85%
- 1M
- 10.14%
- YTD
- 28.96%
- 6M
- 31.90%
- 1Y
- 54.42%
- 3Y*
- 24.24%
- 5Y*
- 9.44%
- 10Y*
- 11.15%
DFCEX vs. DFESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFCEX DFA Emerging Markets Core Equity Fund | 25.19% | 28.79% | 7.31% | 15.45% | -16.44% | 5.82% | 13.86% | 16.03% | -15.25% | 36.55% |
DFESX DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio | 28.96% | 29.95% | 7.16% | 14.58% | -18.49% | 4.16% | 12.99% | 17.12% | -14.87% | 37.30% |
Correlation
The correlation between DFCEX and DFESX 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 | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012 | 1.00 |
The correlation between DFCEX and DFESX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
DFCEX vs. DFESX — Risk / Return Rank
DFCEX
DFESX
DFCEX vs. DFESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets Core Equity Fund (DFCEX) and DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio (DFESX). 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.
| DFCEX | DFESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.64 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.15 | 4.33 | -0.18 |
| Martin ratioReturn relative to average drawdown | 16.47 | 17.30 | -0.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFCEX | DFESX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.32 | 3.39 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.63 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.70 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.50 | -0.06 |
Drawdowns
DFCEX vs. DFESX - Drawdown Comparison
The maximum DFCEX drawdown since its inception was -64.58%, which is greater than DFESX's maximum drawdown of -41.43%. Use the drawdown chart below to compare losses from any high point for DFCEX and DFESX.
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Drawdown Indicators
| DFCEX | DFESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.58% | -41.43% | -23.15% |
Max Drawdown (1Y)Largest decline over 1 year | -12.12% | -12.79% | +0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -16.74% | -16.53% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -30.05% | -32.64% | +2.59% |
Max Drawdown (10Y)Largest decline over 10 years | -42.33% | -41.43% | -0.90% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -12.61% | -10.76% | -1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 3.18% | -0.14% |
Volatility
DFCEX vs. DFESX - Volatility Comparison
The current volatility for DFA Emerging Markets Core Equity Fund (DFCEX) is 6.43%, while DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio (DFESX) has a volatility of 7.18%. This indicates that DFCEX experiences smaller price fluctuations and is considered to be less risky than DFESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFCEX | DFESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.43% | 7.18% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 13.07% | 14.26% | -1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.15% | 16.35% | -1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.70% | 15.10% | -0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.93% | 16.10% | -0.17% |
DFCEX vs. DFESX - Expense Ratio Comparison
DFCEX has a 0.40% expense ratio, which is lower than DFESX's 0.45% expense ratio.
Dividends
DFCEX vs. DFESX - Dividend Comparison
DFCEX's dividend yield for the trailing twelve months is around 2.35%, more than DFESX's 2.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFCEX DFA Emerging Markets Core Equity Fund | 2.35% | 2.90% | 3.43% | 3.53% | 3.78% | 2.59% | 1.70% | 2.42% | 2.33% | 1.92% | 1.99% | 2.28% |
DFESX DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio | 2.13% | 2.59% | 3.15% | 3.23% | 3.17% | 2.37% | 1.64% | 2.33% | 2.37% | 2.04% | 2.05% | 2.17% |
Frequently Asked Questions
With a correlation of 0.99, DFCEX and DFESX 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.
DFESX has higher volatility (7.18%) compared to DFCEX (6.43%). In terms of maximum drawdown, DFCEX dropped -64.58% vs DFESX's -41.43%.
DFESX currently has the higher Sharpe Ratio (3.39 vs 3.32), 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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