DFETX vs. WAEMX

Last updated Jun 5, 2026

DFETX (DFA Emerging Markets II Portfolio) and WAEMX (Wasatch Emerging Markets Small Cap Fund) are both Emerging Markets Diversified funds. Over the past 10 years, DFETX returned 11.54%/yr vs 8.47%/yr for WAEMX. A 0.78 correlation means they provide meaningful diversification when combined. DFETX charges 0.37%/yr vs 1.91%/yr for WAEMX.

Performance

DFETX vs. WAEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Emerging Markets II Portfolio (DFETX) and Wasatch Emerging Markets Small Cap Fund (WAEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFETX achieves a 30.43% return, which is significantly higher than WAEMX's 24.12% return. Over the past 10 years, DFETX has outperformed WAEMX with an annualized return of 11.54%, while WAEMX has yielded a comparatively lower 8.47% annualized return.

DFETX

• 1D: -0.66%
• 1M: 8.42%
• YTD: 30.43%
• 6M: 33.83%
• 1Y: 57.92%
• 3Y*: 25.69%
• 5Y*: 10.03%
• 10Y*: 11.54%

WAEMX

• 1D: 0.00%
• 1M: -1.40%
• YTD: 24.12%
• 6M: 28.62%
• 1Y: 34.27%
• 3Y*: 12.28%
• 5Y*: 2.04%
• 10Y*: 8.47%

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

DFETX vs. WAEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFETX DFA Emerging Markets II Portfolio	30.43%	33.54%	6.86%	13.11%	-16.84%	2.58%	14.08%	16.30%	-13.47%	36.75%
WAEMX Wasatch Emerging Markets Small Cap Fund	24.12%	5.85%	-2.21%	21.20%	-38.76%	30.16%	32.79%	27.45%	-18.97%	38.20%

Correlation

The correlation between DFETX and WAEMX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Oct 1, 2007	0.78

The correlation between DFETX and WAEMX shifts across timeframes, from 0.66 (3 years) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFETX vs. WAEMX — Risk / Return Rank

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

DFETX

DFETX Risk / Return Rank: 92
DFETX Sharpe Ratio Rank: 97
DFETX Sortino Ratio Rank: 92
DFETX Omega Ratio Rank: 91
DFETX Calmar Ratio Rank: 91
DFETX Martin Ratio Rank: 92

WAEMX

WAEMX Risk / Return Rank: 61
WAEMX Sharpe Ratio Rank: 48
WAEMX Sortino Ratio Rank: 51
WAEMX Omega Ratio Rank: 45
WAEMX Calmar Ratio Rank: 89
WAEMX Martin Ratio Rank: 74

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. WAEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets II Portfolio (DFETX) and Wasatch Emerging Markets Small Cap Fund (WAEMX). 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.

	DFETX	WAEMX	Difference
Sharpe ratio: Return per unit of total volatility	3.60	2.03	+1.58
Sortino ratio: Return per unit of downside risk	4.59	2.98	+1.60
Omega ratio: Gain probability vs. loss probability	1.67	1.36	+0.31
Calmar ratio: Return relative to maximum drawdown	4.71	4.49	+0.23
Martin ratio: Return relative to average drawdown	18.99	13.87	+5.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFETX vs. WAEMX - Sharpe Ratio Comparison

The current DFETX Sharpe Ratio is 3.60, which is higher than the WAEMX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of DFETX and WAEMX, 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

	DFETX	WAEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.60	2.03	+1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.12	+0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.47	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.30	+0.10

Drawdowns

DFETX vs. WAEMX - Drawdown Comparison

The maximum DFETX drawdown since its inception was -62.33%, smaller than the maximum WAEMX drawdown of -66.35%. Use the drawdown chart below to compare losses from any high point for DFETX and WAEMX.

Drawdown Indicators

	DFETX	WAEMX	Difference
Max Drawdown Largest peak-to-trough decline	-62.33%	-66.35%	+4.02%
Max Drawdown (1Y) Largest decline over 1 year	-12.84%	-7.89%	-4.95%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-25.56%	+9.43%
Max Drawdown (5Y) Largest decline over 5 years	-31.80%	-44.88%	+13.08%
Max Drawdown (10Y) Largest decline over 10 years	-40.20%	-44.88%	+4.68%
Current Drawdown Current decline from peak	-0.66%	-8.18%	+7.52%
Average Drawdown Average peak-to-trough decline	-15.67%	-16.81%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	2.55%	+0.62%

Volatility

DFETX vs. WAEMX - Volatility Comparison

DFA Emerging Markets II Portfolio (DFETX) has a higher volatility of 7.65% compared to Wasatch Emerging Markets Small Cap Fund (WAEMX) at 5.64%. This indicates that DFETX's price experiences larger fluctuations and is considered to be riskier than WAEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFETX	WAEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.65%	5.64%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	14.74%	14.59%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	16.80%	17.48%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.80%	17.73%	-1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	18.19%	-1.57%

DFETX vs. WAEMX - Expense Ratio Comparison

DFETX has a 0.37% expense ratio, which is lower than WAEMX's 1.91% expense ratio.

Dividends

DFETX vs. WAEMX - Dividend Comparison

DFETX's dividend yield for the trailing twelve months is around 6.32%, less than WAEMX's 56.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFETX DFA Emerging Markets II Portfolio	6.32%	8.24%	3.50%	3.84%	9.30%	19.29%	11.79%	12.48%	8.49%	1.93%	2.40%	3.40%
WAEMX Wasatch Emerging Markets Small Cap Fund	56.72%	70.40%	6.49%	0.00%	3.32%	6.03%	7.15%	5.82%	12.81%	0.00%	0.00%	0.02%

Frequently Asked Questions

Can I hold both DFETX and WAEMX in my portfolio?

DFETX and WAEMX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFETX or WAEMX?

DFETX has higher volatility (7.65%) compared to WAEMX (5.64%). In terms of maximum drawdown, DFETX dropped -62.33% vs WAEMX's -66.35%.

Which has better risk-adjusted returns?

DFETX currently has the higher Sharpe Ratio (3.60 vs 2.03), 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.