DFELX vs. VSMPX

Last updated Aug 2, 2026

DFELX (DFA Enhanced U.S. Large Company Portfolio) and VSMPX (Vanguard Total Stock Market Index Fund Institutional Plus Shares) are both Large Cap Blend Equities funds. Over the past 10 years, DFELX returned 9.86%/yr vs 14.49%/yr for VSMPX. Their 0.97 correlation means they have historically moved very closely together. DFELX charges 0.15%/yr vs 0.02%/yr for VSMPX.

Performance

DFELX vs. VSMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Enhanced U.S. Large Company Portfolio (DFELX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFELX achieves a 9.05% return, which is significantly lower than VSMPX's 9.88% return. Over the past 10 years, DFELX has underperformed VSMPX with an annualized return of 9.86%, while VSMPX has yielded a comparatively higher 14.49% annualized return.

DFELX

• 1D: 1.67%
• 1M: -0.56%
• 6M: 7.52%
• YTD: 9.05%
• 1Y: 18.11%
• 3Y*: 18.26%
• 5Y*: 3.19%
• 10Y*: 9.86%
• ALL TIME*: 8.47%

VSMPX

• 1D: 1.63%
• 1M: -0.78%
• 6M: 8.16%
• YTD: 9.88%
• 1Y: 21.12%
• 3Y*: 18.60%
• 5Y*: 11.63%
• 10Y*: 14.49%
• ALL TIME*: 14.62%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFELX DFA Enhanced U.S. Large Company Portfolio	$0.00	$0.00	$0.00
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	$0.00	$0.00	$0.00

DFELX vs. VSMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFELX DFA Enhanced U.S. Large Company Portfolio	9.05%	16.16%	24.57%	26.57%	-22.41%	-10.98%	18.48%	32.76%	-5.48%	20.57%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	9.88%	17.15%	23.26%	26.53%	-19.50%	25.74%	21.01%	30.79%	-5.16%	21.19%

Correlation

The correlation between DFELX and VSMPX is 0.91, 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.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (10Y) Provides a long-term view across more market conditions.	0.97
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.97

The correlation between DFELX and VSMPX has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.

Return for Risk

DFELX vs. VSMPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFELX

DFELX Risk / Return Rank: 57
DFELX Sharpe Ratio Rank: 55
DFELX Sortino Ratio Rank: 54
DFELX Omega Ratio Rank: 52
DFELX Calmar Ratio Rank: 59
DFELX Martin Ratio Rank: 67

VSMPX

VSMPX Risk / Return Rank: 64
VSMPX Sharpe Ratio Rank: 61
VSMPX Sortino Ratio Rank: 58
VSMPX Omega Ratio Rank: 57
VSMPX Calmar Ratio Rank: 66
VSMPX Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFELX vs. VSMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Enhanced U.S. Large Company Portfolio (DFELX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX). 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.

	DFELX	VSMPX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.43	+0.03
Sortino ratio: Return per unit of downside risk	2.07	2.01	+0.07
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.09	2.10	-0.02
Martin ratio: Return relative to average drawdown	8.65	9.09	-0.44

DFELX vs. VSMPX - Sharpe Ratio Comparison

The current DFELX Sharpe Ratio is 1.46, which is comparable to the VSMPX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of DFELX and VSMPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DFELX vs. VSMPX - Drawdown Comparison

The maximum DFELX drawdown since its inception was -55.54%, which is greater than VSMPX's maximum drawdown of -34.97%. Use the drawdown chart below to compare losses from any high point for DFELX and VSMPX.

Drawdown Indicators

	DFELX	VSMPX	Difference
Max Drawdown Largest peak-to-trough decline	-55.54%	-34.97%	-20.57%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-8.92%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-19.27%	-19.36%	+0.09%
Max Drawdown (5Y) Largest decline over 5 years	-49.14%	-25.35%	-23.79%
Max Drawdown (10Y) Largest decline over 10 years	-49.14%	-34.97%	-14.17%
Current Drawdown Current decline from peak	-2.28%	-1.89%	-0.39%
Average Drawdown Average peak-to-trough decline	-12.64%	-4.55%	-8.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	2.06%	+0.07%

Volatility

DFELX vs. VSMPX - Volatility Comparison

DFA Enhanced U.S. Large Company Portfolio (DFELX) has a higher volatility of 3.60% compared to Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) at 3.41%. This indicates that DFELX's price experiences larger fluctuations and is considered to be riskier than VSMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFELX	VSMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	3.41%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	10.23%	10.27%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	12.97%	13.13%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	17.47%	+4.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.35%	18.41%	+1.94%

DFELX vs. VSMPX - Expense Ratio Comparison

DFELX has a 0.15% expense ratio, which is higher than VSMPX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFELX vs. VSMPX - Dividend Comparison

DFELX's dividend yield for the trailing twelve months is around 17.27%, more than VSMPX's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFELX DFA Enhanced U.S. Large Company Portfolio	17.27%	17.26%	3.77%	3.00%	1.76%	1.21%	7.55%	9.97%	7.79%	16.57%	3.36%	6.99%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	1.07%	1.13%	1.27%	1.43%	1.67%	1.22%	1.43%	1.78%	2.05%	1.73%	1.95%	0.00%

Frequently Asked Questions

Can I hold both DFELX and VSMPX in my portfolio?

With a correlation of 0.91, DFELX and VSMPX 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, DFELX or VSMPX?

DFELX has higher volatility (3.60%) compared to VSMPX (3.41%). In terms of maximum drawdown, DFELX dropped -55.54% vs VSMPX's -34.97%.

Which has better risk-adjusted returns?

DFELX currently has the higher Sharpe Ratio (1.46 vs 1.43), 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.