DFELX vs. DFCEX

Last updated Apr 1, 2026

Compare and contrast key facts about DFA Enhanced U.S. Large Company Portfolio (DFELX) and DFA Emerging Markets Core Equity Fund (DFCEX).

DFELX is managed by Dimensional. It was launched on Jul 2, 1996. DFCEX is managed by Dimensional. It was launched on Apr 4, 2005.

Performance

DFELX vs. DFCEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Enhanced U.S. Large Company Portfolio (DFELX) and DFA Emerging Markets Core Equity Fund (DFCEX). The values are adjusted to include any dividend payments, if applicable.

DFELX vs. DFCEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFELX DFA Enhanced U.S. Large Company Portfolio	-7.31%	16.16%	24.57%	26.57%	-22.41%	-10.98%	18.48%	32.76%	-5.48%	20.57%
DFCEX DFA Emerging Markets Core Equity Fund	0.90%	28.79%	7.31%	15.45%	-16.44%	5.82%	13.86%	16.03%	-15.25%	36.55%

Returns By Period

In the year-to-date period, DFELX achieves a -7.31% return, which is significantly lower than DFCEX's 0.90% return. Both investments have delivered pretty close results over the past 10 years, with DFELX having a 8.68% annualized return and DFCEX not far behind at 8.62%.

DFELX

• 1D: -0.37%
• 1M: -7.93%
• YTD: -7.31%
• 6M: -5.07%
• 1Y: 12.99%
• 3Y*: 16.34%
• 5Y*: 2.02%
• 10Y*: 8.68%

DFCEX

• 1D: -0.97%
• 1M: -11.43%
• YTD: 0.90%
• 6M: 4.73%
• 1Y: 28.56%
• 3Y*: 15.10%
• 5Y*: 6.21%
• 10Y*: 8.62%

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

DFELX vs. DFCEX - Expense Ratio Comparison

DFELX has a 0.15% expense ratio, which is lower than DFCEX's 0.40% expense ratio.

DFCEX

DFA Emerging Markets Core Equity Fund

DFELX

DFA Enhanced U.S. Large Company Portfolio

Return for Risk

DFELX vs. DFCEX — Risk / Return Rank

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

DFELX

DFELX Risk / Return Rank: 30
DFELX Sharpe Ratio Rank: 37
DFELX Sortino Ratio Rank: 40
DFELX Omega Ratio Rank: 44
DFELX Calmar Ratio Rank: 14
DFELX Martin Ratio Rank: 16

DFCEX

DFCEX Risk / Return Rank: 86
DFCEX Sharpe Ratio Rank: 90
DFCEX Sortino Ratio Rank: 89
DFCEX Omega Ratio Rank: 86
DFCEX Calmar Ratio Rank: 85
DFCEX Martin Ratio Rank: 82

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.

DFELX vs. DFCEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Enhanced U.S. Large Company Portfolio (DFELX) and DFA Emerging Markets Core Equity Fund (DFCEX). 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.

	DFELX	DFCEX	Difference
Sharpe ratio Return per unit of total volatility	0.80	1.87	-1.07
Sortino ratio Return per unit of downside risk	1.26	2.43	-1.16
Omega ratio Gain probability vs. loss probability	1.19	1.36	-0.17
Calmar ratio Return relative to maximum drawdown	0.37	2.12	-1.74
Martin ratio Return relative to average drawdown	1.59	8.20	-6.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFELX vs. DFCEX - Sharpe Ratio Comparison

The current DFELX Sharpe Ratio is 0.80, which is lower than the DFCEX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of DFELX and DFCEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DFELX	DFCEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	1.87	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.44	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.55	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.39	+0.01

Correlation

The correlation between DFELX and DFCEX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DFELX vs. DFCEX - Dividend Comparison

DFELX's dividend yield for the trailing twelve months is around 18.81%, more than DFCEX's 2.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFELX DFA Enhanced U.S. Large Company Portfolio	18.81%	17.26%	3.77%	3.00%	1.76%	1.21%	7.55%	9.97%	7.79%	16.57%	3.36%	6.99%
DFCEX DFA Emerging Markets Core Equity Fund	2.91%	2.90%	3.43%	3.53%	3.78%	2.59%	1.70%	2.42%	2.33%	1.92%	1.99%	2.28%

Drawdowns

DFELX vs. DFCEX - Drawdown Comparison

The maximum DFELX drawdown since its inception was -55.54%, smaller than the maximum DFCEX drawdown of -64.58%. Use the drawdown chart below to compare losses from any high point for DFELX and DFCEX.

Drawdown Indicators

	DFELX	DFCEX	Difference
Max Drawdown Largest peak-to-trough decline	-55.54%	-64.58%	+9.04%
Max Drawdown (1Y) Largest decline over 1 year	-12.35%	-12.12%	-0.23%
Max Drawdown (5Y) Largest decline over 5 years	-49.14%	-30.05%	-19.09%
Max Drawdown (10Y) Largest decline over 10 years	-49.14%	-42.33%	-6.81%
Current Drawdown Current decline from peak	-9.09%	-12.12%	+3.03%
Average Drawdown Average peak-to-trough decline	-12.77%	-12.70%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	3.14%	+0.80%

Volatility

DFELX vs. DFCEX - Volatility Comparison

The current volatility for DFA Enhanced U.S. Large Company Portfolio (DFELX) is 4.32%, while DFA Emerging Markets Core Equity Fund (DFCEX) has a volatility of 7.12%. This indicates that DFELX experiences smaller price fluctuations and is considered to be less risky than DFCEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFELX	DFCEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	7.12%	-2.80%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	10.75%	-1.77%
Volatility (1Y) Calculated over the trailing 1-year period	18.85%	15.12%	+3.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.73%	14.32%	+7.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.32%	15.76%	+4.56%