DFETX vs. TEQLX

Last updated Jun 25, 2026

DFETX (DFA Emerging Markets II Portfolio) and TEQLX (TIAA-CREF Emerging Markets Equity Index Fund) are both Emerging Markets Diversified funds. Over the past 10 years, DFETX returned 11.19%/yr vs 10.21%/yr for TEQLX. With a 0.98 correlation, they move nearly in lockstep. DFETX charges 0.37%/yr vs 0.19%/yr for TEQLX.

Performance

DFETX vs. TEQLX - Performance Comparison

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

Returns By Period

In the year-to-date period, DFETX achieves a 24.84% return, which is significantly higher than TEQLX's 23.58% return. Over the past 10 years, DFETX has outperformed TEQLX with an annualized return of 11.19%, while TEQLX has yielded a comparatively lower 10.21% annualized return.

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%

TEQLX

• 1D: -5.35%
• 1M: 2.24%
• YTD: 23.58%
• 6M: 24.55%
• 1Y: 43.93%
• 3Y*: 22.73%
• 5Y*: 6.86%
• 10Y*: 10.21%

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

DFETX vs. TEQLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFETX DFA Emerging Markets II Portfolio	24.84%	33.54%	6.86%	13.11%	-16.84%	2.58%	14.08%	16.30%	-13.47%	36.75%
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	23.58%	34.10%	6.71%	9.23%	-20.22%	-3.07%	17.67%	18.59%	-14.60%	37.47%

Correlation

The correlation between DFETX and TEQLX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Aug 31, 2010	0.98

The correlation between DFETX and TEQLX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

DFETX vs. TEQLX — 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

TEQLX

TEQLX Risk / Return Rank: 74
TEQLX Sharpe Ratio Rank: 75
TEQLX Sortino Ratio Rank: 58
TEQLX Omega Ratio Rank: 76
TEQLX Calmar Ratio Rank: 83
TEQLX Martin Ratio Rank: 79

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. TEQLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets II Portfolio (DFETX) 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.

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	TEQLX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.30	+0.24
Sortino ratio: Return per unit of downside risk	3.13	2.84	+0.28
Omega ratio: Gain probability vs. loss probability	1.49	1.44	+0.05
Calmar ratio: Return relative to maximum drawdown	3.92	3.61	+0.31
Martin ratio: Return relative to average drawdown	14.86	13.49	+1.36

DFETX vs. TEQLX - Sharpe Ratio Comparison

The current DFETX Sharpe Ratio is 2.54, which is comparable to the TEQLX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of DFETX 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.

Drawdowns

DFETX vs. TEQLX - Drawdown Comparison

The maximum DFETX drawdown since its inception was -62.33%, which is greater than TEQLX's maximum drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for DFETX and TEQLX.

Drawdown Indicators

	DFETX	TEQLX	Difference
Max Drawdown Largest peak-to-trough decline	-62.33%	-39.33%	-23.00%
Max Drawdown (1Y) Largest decline over 1 year	-12.84%	-13.32%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-15.97%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	-31.29%	-36.96%	+5.67%
Max Drawdown (10Y) Largest decline over 10 years	-40.20%	-39.33%	-0.87%
Current Drawdown Current decline from peak	-5.27%	-5.35%	+0.08%
Average Drawdown Average peak-to-trough decline	-15.65%	-14.57%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	3.55%	-0.18%

Volatility

DFETX vs. TEQLX - Volatility Comparison

DFA Emerging Markets II Portfolio (DFETX) and TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) have volatilities of 11.84% and 12.11%, 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	TEQLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.84%	12.11%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	18.23%	18.96%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	19.82%	20.94%	-1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	17.66%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	17.93%	-1.07%

DFETX vs. TEQLX - Expense Ratio Comparison

DFETX has a 0.37% expense ratio, which is higher than TEQLX's 0.19% expense ratio.

Dividends

DFETX vs. TEQLX - Dividend Comparison

DFETX's dividend yield for the trailing twelve months is around 6.60%, more than TEQLX's 2.29% 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%
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	2.29%	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 DFETX and TEQLX in my portfolio?

With a correlation of 0.96, DFETX 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, DFETX or TEQLX?

TEQLX has higher volatility (12.11%) compared to DFETX (11.84%). In terms of maximum drawdown, DFETX dropped -62.33% vs TEQLX's -39.33%.

Which has better risk-adjusted returns?

DFETX currently has the higher Sharpe Ratio (2.54 vs 2.30), 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.