DFGX vs. DFAS

Last updated Jun 24, 2026

DFGX (Dimensional Global Ex US Core Fixed Income ETF) and DFAS (Dimensional U.S. Small Cap ETF) are both exchange-traded funds - DFGX is a Global Bonds fund actively managed by Dimensional, while DFAS is a Small Cap Blend Equities fund actively managed by Dimensional. Both are actively managed. Over the past year, DFGX returned 3.25% vs 28.52% for DFAS. At a 0.28 correlation, their price movements are largely independent. DFGX charges 0.20%/yr vs 0.26%/yr for DFAS.

Performance

DFGX vs. DFAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Ex US Core Fixed Income ETF (DFGX) and Dimensional U.S. Small Cap ETF (DFAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFGX achieves a 1.67% return, which is significantly lower than DFAS's 14.69% return.

DFGX

• 1D: 0.19%
• 1M: 1.25%
• YTD: 1.67%
• 6M: 1.69%
• 1Y: 3.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFAS

• 1D: -0.91%
• 1M: 2.82%
• YTD: 14.69%
• 6M: 12.40%
• 1Y: 28.52%
• 3Y*: 15.91%
• 5Y*: 7.86%
• 10Y*: —

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

DFGX vs. DFAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFGX Dimensional Global Ex US Core Fixed Income ETF	1.67%	3.46%	3.75%	4.95%
DFAS Dimensional U.S. Small Cap ETF	14.69%	8.17%	10.21%	16.28%

Correlation

The correlation between DFGX and DFAS is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	0.28

Return for Risk

DFGX vs. DFAS — Risk / Return Rank

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

DFGX

DFGX Risk / Return Rank: 22
DFGX Sharpe Ratio Rank: 24
DFGX Sortino Ratio Rank: 22
DFGX Omega Ratio Rank: 22
DFGX Calmar Ratio Rank: 22
DFGX Martin Ratio Rank: 23

DFAS

DFAS Risk / Return Rank: 56
DFAS Sharpe Ratio Rank: 51
DFAS Sortino Ratio Rank: 54
DFAS Omega Ratio Rank: 47
DFAS Calmar Ratio Rank: 64
DFAS Martin Ratio Rank: 61

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.

DFGX vs. DFAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Ex US Core Fixed Income ETF (DFGX) and Dimensional U.S. Small Cap ETF (DFAS). 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.

	DFGX	DFAS	Difference
Sharpe ratio: Return per unit of total volatility	0.79	1.69	-0.89
Sortino ratio: Return per unit of downside risk	1.17	2.49	-1.32
Omega ratio: Gain probability vs. loss probability	1.14	1.29	-0.15
Calmar ratio: Return relative to maximum drawdown	0.98	3.06	-2.08
Martin ratio: Return relative to average drawdown	2.80	10.51	-7.71

DFGX vs. DFAS - Sharpe Ratio Comparison

The current DFGX Sharpe Ratio is 0.79, which is lower than the DFAS Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of DFGX and DFAS, 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

DFGX vs. DFAS - Drawdown Comparison

The maximum DFGX drawdown since its inception was -3.32%, smaller than the maximum DFAS drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for DFGX and DFAS.

Drawdown Indicators

	DFGX	DFAS	Difference
Max Drawdown Largest peak-to-trough decline	-3.32%	-26.13%	+22.81%
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	-9.36%	+6.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.13%	—
Current Drawdown Current decline from peak	-0.49%	-1.03%	+0.54%
Average Drawdown Average peak-to-trough decline	-0.78%	-8.23%	+7.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	2.72%	-1.56%

Volatility

DFGX vs. DFAS - Volatility Comparison

The current volatility for Dimensional Global Ex US Core Fixed Income ETF (DFGX) is 1.12%, while Dimensional U.S. Small Cap ETF (DFAS) has a volatility of 4.84%. This indicates that DFGX experiences smaller price fluctuations and is considered to be less risky than DFAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFGX	DFAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	4.84%	-3.72%
Volatility (6M) Calculated over the trailing 6-month period	3.46%	11.96%	-8.50%
Volatility (1Y) Calculated over the trailing 1-year period	4.11%	17.00%	-12.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.65%	20.81%	-16.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.65%	20.82%	-16.17%

DFGX vs. DFAS - Expense Ratio Comparison

DFGX has a 0.20% expense ratio, which is lower than DFAS's 0.26% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFGX vs. DFAS - Dividend Comparison

DFGX's dividend yield for the trailing twelve months is around 2.73%, more than DFAS's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021
DFAS Dimensional U.S. Small Cap ETF	0.91%	0.99%	0.93%	1.00%	1.03%	2.87%
DFGX Dimensional Global Ex US Core Fixed Income ETF	2.73%	2.84%	4.61%	0.49%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFGX and DFAS in my portfolio?

DFGX and DFAS have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFGX or DFAS?

DFAS has higher volatility (4.84%) compared to DFGX (1.12%). In terms of maximum drawdown, DFGX dropped -3.32% vs DFAS's -26.13%.

Which ETF is better, DFGX or DFAS?

On 1-year performance, DFAS leads with 28.52% vs 3.25% for DFGX. On fees, DFGX is cheaper at 0.20% per year. On volatility, DFGX has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFGX or DFAS?

Over the 1-year period, DFAS has performed better with a 28.52% return vs 3.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFGX or DFAS?

DFGX is cheaper with a 0.20% expense ratio, compared with 0.26% for DFAS.

Which ETF pays a higher dividend yield, DFGX or DFAS?

DFGX has the higher dividend yield at 2.73%, compared with 0.91% for DFAS.

What is the main difference between DFGX and DFAS?

DFGX is categorized as Global Bonds, while DFAS is Small Cap Blend Equities. Their fees differ too: 0.20% for DFGX and 0.26% for DFAS.

Which has better risk-adjusted returns?

DFAS currently has the higher Sharpe Ratio (1.69 vs 0.79), 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.