DFEV vs. VWO
DFEV (Dimensional Emerging Markets Value ETF) and VWO (Vanguard FTSE Emerging Markets ETF) are both Emerging Markets Equities funds. DFEV is actively managed, while VWO is passively managed. Over the past 3 years, DFEV returned 19.57%/yr vs 14.84%/yr for VWO. Their correlation of 0.93 means they have usually moved in the same direction. DFEV charges 0.43%/yr vs 0.08%/yr for VWO.
Performance
DFEV vs. VWO - Performance Comparison
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Returns By Period
In the year-to-date period, DFEV achieves a 18.44% return, which is significantly higher than VWO's 9.41% return.
DFEV
- 1D
- 0.08%
- 1M
- -3.76%
- 6M
- 9.07%
- YTD
- 18.44%
- 1Y
- 35.77%
- 3Y*
- 19.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.19%
VWO
- 1D
- 0.96%
- 1M
- -0.49%
- 6M
- 4.16%
- YTD
- 9.41%
- 1Y
- 21.69%
- 3Y*
- 14.84%
- 5Y*
- 6.08%
- 10Y*
- 7.86%
- ALL TIME*
- 6.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.02M | $11.82M | $9.92M | |
| $386.61M | $469.40M | $499.89M |
DFEV vs. VWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DFEV Dimensional Emerging Markets Value ETF | 18.44% | 32.54% | 7.26% | 15.52% | -6.08% |
VWO Vanguard FTSE Emerging Markets ETF | 9.41% | 25.60% | 10.59% | 9.25% | -4.28% |
Correlation
The correlation between DFEV and VWO is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2022 | 0.93 |
The correlation between DFEV and VWO has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
DFEV vs. VWO - Sectors Allocation Comparison
Sectors
DFEV
VWO
Financial Services
Technology
Basic Materials
Consumer Cyclical
Industrials
Energy
Consumer Defensive
Communication Services
Real Estate
Healthcare
Utilities
Financial Services
DFEV
VWO
Technology
DFEV
VWO
Basic Materials
DFEV
VWO
Consumer Cyclical
DFEV
VWO
Industrials
DFEV
VWO
Energy
DFEV
VWO
Consumer Defensive
DFEV
VWO
Communication Services
DFEV
VWO
Real Estate
DFEV
VWO
Healthcare
DFEV
VWO
Utilities
DFEV
VWO
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Return for Risk
DFEV vs. VWO — Risk / Return Rank
DFEV
VWO
DFEV vs. VWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets Value ETF (DFEV) and Vanguard FTSE Emerging Markets ETF (VWO). 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.
| DFEV | VWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.22 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 1.89 | +0.66 |
| Martin ratioReturn relative to average drawdown | 8.54 | 6.16 | +2.38 |
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Drawdowns
DFEV vs. VWO - Drawdown Comparison
The maximum DFEV drawdown since its inception was -18.49%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for DFEV and VWO.
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Drawdown Indicators
| DFEV | VWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.49% | -67.68% | +49.19% |
Max Drawdown (1Y)Largest decline over 1 year | -13.86% | -11.17% | -2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -17.94% | -17.37% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.39% | — |
Current DrawdownCurrent decline from peak | -10.62% | -4.07% | -6.55% |
Average DrawdownAverage peak-to-trough decline | -4.71% | -15.73% | +11.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.14% | 3.43% | +0.71% |
Volatility
DFEV vs. VWO - Volatility Comparison
Dimensional Emerging Markets Value ETF (DFEV) has a higher volatility of 8.10% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 5.58%. This indicates that DFEV's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFEV | VWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 5.58% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 19.68% | 15.22% | +4.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.40% | 17.58% | +3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.36% | 17.56% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.36% | 19.17% | -1.81% |
DFEV vs. VWO - Expense Ratio Comparison
DFEV has a 0.43% expense ratio, which is higher than VWO's 0.08% expense ratio.
Dividends
DFEV vs. VWO - Dividend Comparison
DFEV's dividend yield for the trailing twelve months is around 2.17%, less than VWO's 2.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFEV Dimensional Emerging Markets Value ETF | 2.17% | 2.69% | 3.17% | 3.47% | 3.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWO Vanguard FTSE Emerging Markets ETF | 2.35% | 2.79% | 3.20% | 3.52% | 4.11% | 2.63% | 1.91% | 3.23% | 2.88% | 2.30% | 2.52% | 3.26% |
Frequently Asked Questions
DFEV and VWO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFEV has higher volatility (8.10%) compared to VWO (5.58%). In terms of maximum drawdown, DFEV dropped -18.49% vs VWO's -67.68%.
On 3-year performance, DFEV leads with 19.57% vs 14.84% for VWO. On fees, VWO is cheaper at 0.08% per year. On volatility, VWO has been the lower-risk option at 5.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DFEV has performed better with a 19.57% return vs 14.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWO is cheaper with a 0.08% expense ratio, compared with 0.43% for DFEV.
VWO has the higher dividend yield at 2.35%, compared with 2.17% for DFEV.
They also come from different issuers: Dimensional and Vanguard. Their fees differ too: 0.43% for DFEV and 0.08% for VWO.
DFEV currently has the higher Sharpe Ratio (1.66 vs 1.20), 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.
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