DFGR vs. VOO

Last updated Jun 4, 2026

DFGR (Dimensional Global Real Estate ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - DFGR is a REIT fund actively managed by Dimensional, while VOO is a S&P 500 fund tracking the S&P 500 Index. DFGR is actively managed, while VOO is passively managed. Over the past 3 years, DFGR returned 8.89%/yr vs 22.44%/yr for VOO. A 0.54 correlation means they provide meaningful diversification when combined. DFGR charges 0.22%/yr vs 0.03%/yr for VOO.

Performance

DFGR vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Real Estate ETF (DFGR) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFGR achieves a 7.61% return, which is significantly lower than VOO's 10.91% return.

DFGR

• 1D: -0.28%
• 1M: -1.00%
• YTD: 7.61%
• 6M: 7.46%
• 1Y: 10.27%
• 3Y*: 8.89%
• 5Y*: —
• 10Y*: —

VOO

• 1D: -0.70%
• 1M: 5.04%
• YTD: 10.91%
• 6M: 10.93%
• 1Y: 28.04%
• 3Y*: 22.44%
• 5Y*: 13.90%
• 10Y*: 15.56%

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

DFGR vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFGR Dimensional Global Real Estate ETF	7.61%	7.65%	1.89%	9.64%	-1.24%
VOO Vanguard S&P 500 ETF	10.91%	17.82%	24.98%	26.32%	-2.30%

Correlation

The correlation between DFGR and VOO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Dec 8, 2022	0.54

The correlation between DFGR and VOO shifts across timeframes, from 0.38 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

DFGR vs. VOO - Sectors Allocation Comparison

Sectors	DFGR	VOO
Real Estate	99.1%	1.9%
Financial Services	0.1%	11.6%
Technology	0.1%	35.7%
Communication Services	0.0%	11.3%
Consumer Cyclical	0.0%	10.2%
Healthcare	0.0%	8.5%
Industrials	0.0%	8.3%
Consumer Defensive	0.0%	4.9%
Energy	0.0%	3.5%
Utilities	0.0%	2.4%
Basic Materials	-	1.8%

Return for Risk

DFGR vs. VOO — Risk / Return Rank

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

DFGR

DFGR Risk / Return Rank: 24
DFGR Sharpe Ratio Rank: 24
DFGR Sortino Ratio Rank: 23
DFGR Omega Ratio Rank: 23
DFGR Calmar Ratio Rank: 24
DFGR Martin Ratio Rank: 28

VOO

VOO Risk / Return Rank: 70
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 70
VOO Omega Ratio Rank: 70
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 75

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.

DFGR vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Real Estate ETF (DFGR) and Vanguard S&P 500 ETF (VOO). 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.

	DFGR	VOO	Difference
Sharpe ratio: Return per unit of total volatility	0.87	2.39	-1.52
Sortino ratio: Return per unit of downside risk	1.26	3.25	-2.00
Omega ratio: Gain probability vs. loss probability	1.16	1.43	-0.28
Calmar ratio: Return relative to maximum drawdown	1.13	3.16	-2.04
Martin ratio: Return relative to average drawdown	4.00	14.73	-10.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFGR vs. VOO - Sharpe Ratio Comparison

The current DFGR Sharpe Ratio is 0.87, which is lower than the VOO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of DFGR and VOO, 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

	DFGR	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	2.39	-1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.83	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.89	-0.41

Drawdowns

DFGR vs. VOO - Drawdown Comparison

The maximum DFGR drawdown since its inception was -21.28%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for DFGR and VOO.

Drawdown Indicators

	DFGR	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-21.28%	-33.99%	+12.71%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	-8.90%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-17.57%	-18.69%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-2.76%	-0.70%	-2.06%
Average Drawdown Average peak-to-trough decline	-6.30%	-3.69%	-2.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	1.91%	+0.67%

Volatility

DFGR vs. VOO - Volatility Comparison

Dimensional Global Real Estate ETF (DFGR) has a higher volatility of 3.61% compared to Vanguard S&P 500 ETF (VOO) at 2.84%. This indicates that DFGR's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFGR	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	2.84%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	8.75%	8.90%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	11.86%	11.80%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	16.81%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.42%	18.01%	-2.59%

DFGR vs. VOO - Expense Ratio Comparison

DFGR has a 0.22% expense ratio, which is higher than VOO's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFGR vs. VOO - Dividend Comparison

DFGR's dividend yield for the trailing twelve months is around 3.95%, more than VOO's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGR Dimensional Global Real Estate ETF	3.95%	4.05%	3.73%	2.77%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.03%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both DFGR and VOO in my portfolio?

DFGR and VOO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFGR or VOO?

DFGR has higher volatility (3.61%) compared to VOO (2.84%). In terms of maximum drawdown, DFGR dropped -21.28% vs VOO's -33.99%.

Which ETF is better, DFGR or VOO?

On 3-year performance, VOO leads with 22.44% vs 8.89% for DFGR. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFGR or VOO?

Over the 3-year period, VOO has performed better with a 22.44% return vs 8.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFGR or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.22% for DFGR.

Which ETF pays a higher dividend yield, DFGR or VOO?

DFGR has the higher dividend yield at 3.95%, compared with 1.03% for VOO.

What is the main difference between DFGR and VOO?

DFGR is categorized as REIT, while VOO is S&P 500. They also come from different issuers: Dimensional and Vanguard. Their fees differ too: 0.22% for DFGR and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.39 vs 0.87), 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.