DFCEX vs. SCHE
DFCEX (DFA Emerging Markets Core Equity Fund) and SCHE (Schwab Emerging Markets Equity ETF) are both Emerging Markets Equities funds. Over the past 10 years, DFCEX returned 8.62%/yr vs 7.82%/yr for SCHE. Their correlation of 0.91 means they have usually moved in the same direction. DFCEX charges 0.40%/yr vs 0.11%/yr for SCHE.
Performance
DFCEX vs. SCHE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with DFCEX having a 9.13% return and SCHE slightly higher at 9.20%. Over the past 10 years, DFCEX has outperformed SCHE with an annualized return of 8.62%, while SCHE has yielded a comparatively lower 7.82% annualized return.
DFCEX
- 1D
- -2.05%
- 1M
- -10.21%
- 6M
- -0.24%
- YTD
- 9.13%
- 1Y
- 20.73%
- 3Y*
- 15.04%
- 5Y*
- 7.63%
- 10Y*
- 8.62%
- ALL TIME*
- 8.01%
SCHE
- 1D
- 2.41%
- 1M
- -1.49%
- 6M
- 1.72%
- YTD
- 9.20%
- 1Y
- 20.16%
- 3Y*
- 14.51%
- 5Y*
- 6.05%
- 10Y*
- 7.82%
- ALL TIME*
- 4.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $117.71M | $115.59M | $115.16M |
DFCEX vs. SCHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFCEX DFA Emerging Markets Core Equity Fund | 9.13% | 28.79% | 7.31% | 15.45% | -16.44% | 5.82% | 13.86% | 16.03% | -15.25% | 36.55% |
SCHE Schwab Emerging Markets Equity ETF | 9.20% | 26.54% | 10.60% | 8.93% | -17.84% | -0.65% | 14.49% | 20.31% | -13.57% | 32.70% |
Correlation
The correlation between DFCEX and SCHE is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2010 | 0.91 |
The correlation between DFCEX and SCHE has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.
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Return for Risk
DFCEX vs. SCHE — Risk / Return Rank
DFCEX
SCHE
DFCEX vs. SCHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets Core Equity Fund (DFCEX) and Schwab Emerging Markets Equity ETF (SCHE). 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.
| DFCEX | SCHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.79 | -0.20 |
| Martin ratioReturn relative to average drawdown | 5.23 | 5.95 | -0.72 |
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Drawdowns
DFCEX vs. SCHE - Drawdown Comparison
The maximum DFCEX drawdown since its inception was -64.58%, which is greater than SCHE's maximum drawdown of -36.20%. Use the drawdown chart below to compare losses from any high point for DFCEX and SCHE.
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Drawdown Indicators
| DFCEX | SCHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.58% | -36.20% | -28.38% |
Max Drawdown (1Y)Largest decline over 1 year | -12.95% | -11.29% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -16.74% | -17.08% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -28.41% | -31.38% | +2.97% |
Max Drawdown (10Y)Largest decline over 10 years | -42.33% | -36.20% | -6.13% |
Current DrawdownCurrent decline from peak | -12.95% | -3.96% | -8.99% |
Average DrawdownAverage peak-to-trough decline | -12.56% | -12.51% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 3.40% | +0.52% |
Volatility
DFCEX vs. SCHE - Volatility Comparison
DFA Emerging Markets Core Equity Fund (DFCEX) has a higher volatility of 7.57% compared to Schwab Emerging Markets Equity ETF (SCHE) at 5.68%. This indicates that DFCEX's price experiences larger fluctuations and is considered to be riskier than SCHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFCEX | SCHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.57% | 5.68% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 17.55% | 15.58% | +1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.03% | 17.99% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.54% | 17.87% | -2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.22% | 19.44% | -3.22% |
DFCEX vs. SCHE - Expense Ratio Comparison
DFCEX has a 0.40% expense ratio, which is higher than SCHE's 0.11% expense ratio.
Dividends
DFCEX vs. SCHE - Dividend Comparison
DFCEX's dividend yield for the trailing twelve months is around 2.74%, more than SCHE's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFCEX DFA Emerging Markets Core Equity Fund | 2.74% | 2.90% | 3.43% | 3.53% | 3.78% | 2.59% | 1.70% | 2.42% | 2.33% | 1.92% | 1.99% | 2.28% |
SCHE Schwab Emerging Markets Equity ETF | 2.67% | 2.88% | 3.03% | 3.83% | 2.88% | 2.86% | 2.09% | 3.27% | 2.64% | 2.31% | 2.27% | 2.50% |
Frequently Asked Questions
DFCEX and SCHE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFCEX has higher volatility (7.57%) compared to SCHE (5.68%). In terms of maximum drawdown, DFCEX dropped -64.58% vs SCHE's -36.20%.
SCHE currently has the higher Sharpe Ratio (1.13 vs 1.08), 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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