DFESX vs. TEQLX

Last updated Jun 3, 2026

DFESX (DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio) and TEQLX (TIAA-CREF Emerging Markets Equity Index Fund) are both Emerging Markets Diversified funds. Over the past 10 years, DFESX returned 11.05%/yr vs 10.50%/yr for TEQLX. With a 0.98 correlation, they move nearly in lockstep. DFESX charges 0.45%/yr vs 0.19%/yr for TEQLX.

Performance

DFESX vs. TEQLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio (DFESX) and TIAA-CREF Emerging Markets Equity Index Fund (TEQLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DFESX having a 27.87% return and TEQLX slightly higher at 28.56%. Both investments have delivered pretty close results over the past 10 years, with DFESX having a 11.05% annualized return and TEQLX not far behind at 10.50%.

DFESX

• 1D: 2.26%
• 1M: 10.29%
• YTD: 27.87%
• 6M: 30.65%
• 1Y: 53.31%
• 3Y*: 23.89%
• 5Y*: 9.12%
• 10Y*: 11.05%

TEQLX

• 1D: 2.44%
• 1M: 10.60%
• YTD: 28.56%
• 6M: 31.31%
• 1Y: 57.35%
• 3Y*: 24.44%
• 5Y*: 7.46%
• 10Y*: 10.50%

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

DFESX vs. TEQLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFESX DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio	27.87%	29.95%	7.16%	14.58%	-18.49%	4.16%	12.99%	17.12%	-14.87%	37.30%
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	28.56%	34.10%	6.71%	9.23%	-20.22%	-3.07%	17.67%	18.59%	-14.60%	37.47%

Correlation

The correlation between DFESX and TEQLX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012	0.98

The correlation between DFESX and TEQLX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

DFESX vs. TEQLX — Risk / Return Rank

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

DFESX

DFESX Risk / Return Rank: 89
DFESX Sharpe Ratio Rank: 95
DFESX Sortino Ratio Rank: 89
DFESX Omega Ratio Rank: 89
DFESX Calmar Ratio Rank: 87
DFESX Martin Ratio Rank: 87

TEQLX

TEQLX Risk / Return Rank: 89
TEQLX Sharpe Ratio Rank: 95
TEQLX Sortino Ratio Rank: 87
TEQLX Omega Ratio Rank: 88
TEQLX Calmar Ratio Rank: 88
TEQLX Martin Ratio Rank: 88

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.

DFESX vs. TEQLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio (DFESX) and TIAA-CREF Emerging Markets Equity Index Fund (TEQLX). 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.

	DFESX	TEQLX	Difference
Sharpe ratio Return per unit of total volatility	3.37	3.30	+0.08
Sortino ratio Return per unit of downside risk	4.32	4.14	+0.18
Omega ratio Gain probability vs. loss probability	1.64	1.61	+0.03
Calmar ratio Return relative to maximum drawdown	4.16	4.30	-0.14
Martin ratio Return relative to average drawdown	16.71	17.07	-0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFESX vs. TEQLX - Sharpe Ratio Comparison

The current DFESX Sharpe Ratio is 3.37, which is comparable to the TEQLX Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of DFESX and TEQLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFESX	TEQLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.37	3.30	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.44	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.60	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.35	+0.14

Drawdowns

DFESX vs. TEQLX - Drawdown Comparison

The maximum DFESX drawdown since its inception was -41.43%, which is greater than TEQLX's maximum drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for DFESX and TEQLX.

Drawdown Indicators

	DFESX	TEQLX	Difference
Max Drawdown Largest peak-to-trough decline	-41.43%	-39.33%	-2.10%
Max Drawdown (1Y) Largest decline over 1 year	-12.79%	-13.32%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-16.53%	-15.97%	-0.56%
Max Drawdown (5Y) Largest decline over 5 years	-32.64%	-37.05%	+4.41%
Max Drawdown (10Y) Largest decline over 10 years	-41.43%	-39.33%	-2.10%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.77%	-14.61%	+3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	3.35%	-0.17%

Volatility

DFESX vs. TEQLX - Volatility Comparison

The current volatility for DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio (DFESX) is 7.18%, while TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) has a volatility of 7.73%. This indicates that DFESX experiences smaller price fluctuations and is considered to be less risky than TEQLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFESX	TEQLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.18%	7.73%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	14.25%	15.41%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	16.37%	17.98%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.09%	16.98%	-1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	17.68%	-1.57%

DFESX vs. TEQLX - Expense Ratio Comparison

DFESX has a 0.45% expense ratio, which is higher than TEQLX's 0.19% expense ratio.

Dividends

DFESX vs. TEQLX - Dividend Comparison

DFESX's dividend yield for the trailing twelve months is around 2.15%, less than TEQLX's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFESX DFA Investment Dimensions Group Inc - Emerging Markets Social Core Equity Portfolio	2.15%	2.59%	3.15%	3.23%	3.17%	2.37%	1.64%	2.33%	2.37%	2.04%	2.05%	2.17%
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	2.20%	2.83%	2.93%	3.08%	2.51%	2.27%	2.04%	2.77%	2.43%	1.98%	1.88%	2.40%

Frequently Asked Questions

Can I hold both DFESX and TEQLX in my portfolio?

With a correlation of 0.95, DFESX and TEQLX 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, DFESX or TEQLX?

TEQLX has higher volatility (7.73%) compared to DFESX (7.18%). In terms of maximum drawdown, DFESX dropped -41.43% vs TEQLX's -39.33%.

Which has better risk-adjusted returns?

DFESX currently has the higher Sharpe Ratio (3.37 vs 3.30), 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.