DFEM vs. RBIL

Last updated Jun 24, 2026

DFEM (Dimensional Emerging Markets Core Equity 2 ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - DFEM is a Emerging Markets Diversified fund actively managed by Dimensional, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. DFEM is actively managed, while RBIL is passively managed. Over the past year, DFEM returned 41.37% vs 4.07% for RBIL. At a correlation of -0.18, they often move in opposite directions. DFEM charges 0.39%/yr vs 0.17%/yr for RBIL.

Performance

DFEM vs. RBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Markets Core Equity 2 ETF (DFEM) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFEM achieves a 20.81% return, which is significantly higher than RBIL's 2.32% return.

DFEM

• 1D: -5.74%
• 1M: 0.43%
• YTD: 20.81%
• 6M: 21.36%
• 1Y: 41.37%
• 3Y*: 21.68%
• 5Y*: —
• 10Y*: —

RBIL

• 1D: 0.01%
• 1M: -0.19%
• YTD: 2.32%
• 6M: 2.37%
• 1Y: 4.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFEM vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
DFEM Dimensional Emerging Markets Core Equity 2 ETF	20.81%	25.86%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	2.32%	2.85%

Correlation

The correlation between DFEM and RBIL is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025	-0.18

Return for Risk

DFEM vs. RBIL — Risk / Return Rank

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

DFEM

DFEM Risk / Return Rank: 66
DFEM Sharpe Ratio Rank: 63
DFEM Sortino Ratio Rank: 55
DFEM Omega Ratio Rank: 67
DFEM Calmar Ratio Rank: 72
DFEM Martin Ratio Rank: 72

RBIL

RBIL Risk / Return Rank: 97
RBIL Sharpe Ratio Rank: 97
RBIL Sortino Ratio Rank: 98
RBIL Omega Ratio Rank: 98
RBIL Calmar Ratio Rank: 96
RBIL Martin Ratio Rank: 97

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.

DFEM vs. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets Core Equity 2 ETF (DFEM) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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.

	DFEM	RBIL	Difference
Sharpe ratio: Return per unit of total volatility	1.97	4.35	-2.38
Sortino ratio: Return per unit of downside risk	2.52	6.69	-4.18
Omega ratio: Gain probability vs. loss probability	1.38	2.13	-0.75
Calmar ratio: Return relative to maximum drawdown	3.43	7.82	-4.39
Martin ratio: Return relative to average drawdown	12.74	42.95	-30.21

DFEM vs. RBIL - Sharpe Ratio Comparison

The current DFEM Sharpe Ratio is 1.97, which is lower than the RBIL Sharpe Ratio of 4.35. The chart below compares the historical Sharpe Ratios of DFEM and RBIL, 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

DFEM vs. RBIL - Drawdown Comparison

The maximum DFEM drawdown since its inception was -20.82%, which is greater than RBIL's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for DFEM and RBIL.

Drawdown Indicators

	DFEM	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-20.82%	-0.52%	-20.30%
Max Drawdown (1Y) Largest decline over 1 year	-12.12%	-0.52%	-11.60%
Max Drawdown (3Y) Largest decline over 3 years	-18.09%	—	—
Current Drawdown Current decline from peak	-5.74%	-0.50%	-5.24%
Average Drawdown Average peak-to-trough decline	-5.01%	-0.07%	-4.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	0.10%	+3.16%

Volatility

DFEM vs. RBIL - Volatility Comparison

Dimensional Emerging Markets Core Equity 2 ETF (DFEM) has a higher volatility of 12.01% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.36%. This indicates that DFEM's price experiences larger fluctuations and is considered to be riskier than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFEM	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.01%	0.36%	+11.65%
Volatility (6M) Calculated over the trailing 6-month period	19.31%	0.85%	+18.46%
Volatility (1Y) Calculated over the trailing 1-year period	21.16%	0.95%	+20.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.94%	1.07%	+16.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.94%	1.07%	+16.87%

DFEM vs. RBIL - Expense Ratio Comparison

DFEM has a 0.39% expense ratio, which is higher than RBIL's 0.17% expense ratio.

Dividends

DFEM vs. RBIL - Dividend Comparison

DFEM's dividend yield for the trailing twelve months is around 1.89%, less than RBIL's 4.38% yield.

Position	TTM	2025	2024	2023	2022
DFEM Dimensional Emerging Markets Core Equity 2 ETF	1.89%	2.32%	2.50%	2.38%	1.99%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.38%	3.65%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFEM and RBIL in my portfolio?

DFEM and RBIL have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFEM or RBIL?

DFEM has higher volatility (12.01%) compared to RBIL (0.36%). In terms of maximum drawdown, DFEM dropped -20.82% vs RBIL's -0.52%.

Which ETF is better, DFEM or RBIL?

On 1-year performance, DFEM leads with 41.37% vs 4.07% for RBIL. On fees, RBIL is cheaper at 0.17% per year. On volatility, RBIL has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFEM or RBIL?

Over the 1-year period, DFEM has performed better with a 41.37% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFEM or RBIL?

RBIL is cheaper with a 0.17% expense ratio, compared with 0.39% for DFEM.

Which ETF pays a higher dividend yield, DFEM or RBIL?

RBIL has the higher dividend yield at 4.38%, compared with 1.89% for DFEM.

What is the main difference between DFEM and RBIL?

DFEM is categorized as Emerging Markets Diversified, while RBIL is Inflation-Protected Bonds. They also come from different issuers: Dimensional and F/m. Their fees differ too: 0.39% for DFEM and 0.17% for RBIL.

Which has better risk-adjusted returns?

RBIL currently has the higher Sharpe Ratio (4.35 vs 1.97), 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.