DFETX vs. FCEEX

Last updated Jun 25, 2026

DFETX (DFA Emerging Markets II Portfolio) and FCEEX (Franklin Emerging Market Core Equity (IU) Fund Advisor) are both Emerging Markets Diversified funds. Over the past 5 years, DFETX returned 9.39%/yr vs 9.34%/yr for FCEEX. With a 0.95 correlation, they move nearly in lockstep. DFETX charges 0.37%/yr vs 0.17%/yr for FCEEX.

Performance

DFETX vs. FCEEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Emerging Markets II Portfolio (DFETX) and Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DFETX having a 24.84% return and FCEEX slightly lower at 23.70%.

DFETX

• 1D: -5.27%
• 1M: 2.16%
• YTD: 24.84%
• 6M: 25.87%
• 1Y: 45.83%
• 3Y*: 23.62%
• 5Y*: 9.39%
• 10Y*: 11.19%

FCEEX

• 1D: -5.20%
• 1M: 1.63%
• YTD: 23.70%
• 6M: 24.74%
• 1Y: 43.40%
• 3Y*: 25.24%
• 5Y*: 9.34%
• 10Y*: —

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

DFETX vs. FCEEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DFETX DFA Emerging Markets II Portfolio	24.84%	33.54%	6.86%	13.11%	-16.84%	2.58%	14.08%	10.44%
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	23.70%	34.81%	10.51%	12.52%	-16.96%	-1.29%	10.19%	9.77%

Correlation

The correlation between DFETX and FCEEX 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	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.95

The correlation between DFETX and FCEEX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

DFETX vs. FCEEX — Risk / Return Rank

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

DFETX

DFETX Risk / Return Rank: 83
DFETX Sharpe Ratio Rank: 86
DFETX Sortino Ratio Rank: 72
DFETX Omega Ratio Rank: 83
DFETX Calmar Ratio Rank: 87
DFETX Martin Ratio Rank: 87

FCEEX

FCEEX Risk / Return Rank: 75
FCEEX Sharpe Ratio Rank: 76
FCEEX Sortino Ratio Rank: 59
FCEEX Omega Ratio Rank: 75
FCEEX Calmar Ratio Rank: 84
FCEEX Martin Ratio Rank: 81

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.

DFETX vs. FCEEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets II Portfolio (DFETX) and Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX). 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.

	DFETX	FCEEX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.31	+0.23
Sortino ratio: Return per unit of downside risk	3.13	2.87	+0.26
Omega ratio: Gain probability vs. loss probability	1.49	1.44	+0.06
Calmar ratio: Return relative to maximum drawdown	3.92	3.66	+0.26
Martin ratio: Return relative to average drawdown	14.86	13.77	+1.09

DFETX vs. FCEEX - Sharpe Ratio Comparison

The current DFETX Sharpe Ratio is 2.54, which is comparable to the FCEEX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of DFETX and FCEEX, 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

DFETX vs. FCEEX - Drawdown Comparison

The maximum DFETX drawdown since its inception was -62.33%, which is greater than FCEEX's maximum drawdown of -34.68%. Use the drawdown chart below to compare losses from any high point for DFETX and FCEEX.

Drawdown Indicators

	DFETX	FCEEX	Difference
Max Drawdown Largest peak-to-trough decline	-62.33%	-34.68%	-27.65%
Max Drawdown (1Y) Largest decline over 1 year	-12.84%	-12.98%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-15.47%	-0.66%
Max Drawdown (5Y) Largest decline over 5 years	-31.29%	-33.39%	+2.10%
Max Drawdown (10Y) Largest decline over 10 years	-40.20%	—	—
Current Drawdown Current decline from peak	-5.27%	-5.42%	+0.15%
Average Drawdown Average peak-to-trough decline	-15.65%	-11.19%	-4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	3.44%	-0.07%

Volatility

DFETX vs. FCEEX - Volatility Comparison

DFA Emerging Markets II Portfolio (DFETX) and Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) have volatilities of 11.84% and 11.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFETX	FCEEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.84%	11.80%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	18.23%	18.41%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	19.82%	20.60%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	17.57%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	18.74%	-1.88%

DFETX vs. FCEEX - Expense Ratio Comparison

DFETX has a 0.37% expense ratio, which is higher than FCEEX's 0.17% expense ratio.

Dividends

DFETX vs. FCEEX - Dividend Comparison

DFETX's dividend yield for the trailing twelve months is around 6.60%, more than FCEEX's 2.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFETX DFA Emerging Markets II Portfolio	6.60%	8.24%	3.50%	3.84%	9.30%	19.29%	11.79%	12.48%	8.49%	1.93%	2.40%	3.40%
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	2.38%	3.29%	4.17%	4.36%	4.08%	3.38%	2.98%	0.40%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFETX and FCEEX in my portfolio?

With a correlation of 0.95, DFETX and FCEEX 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, DFETX or FCEEX?

DFETX has higher volatility (11.84%) compared to FCEEX (11.80%). In terms of maximum drawdown, DFETX dropped -62.33% vs FCEEX's -34.68%.

Which has better risk-adjusted returns?

DFETX currently has the higher Sharpe Ratio (2.54 vs 2.31), 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.