DFIC vs. DFIEX

Last updated Jun 23, 2026

DFIC (DFA Dimensional International Core Equity 2 ETF) and DFIEX (DFA International Core Equity Portfolio I) are both Foreign Large Cap Equities funds from Dimensional. Over the past 3 years, DFIC returned 19.97%/yr vs 18.32%/yr for DFIEX. With a 0.98 correlation, they move nearly in lockstep. DFIC charges 0.22%/yr vs 0.24%/yr for DFIEX.

Performance

DFIC vs. DFIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Dimensional International Core Equity 2 ETF (DFIC) and DFA International Core Equity Portfolio I (DFIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DFIC having a 10.96% return and DFIEX slightly lower at 10.65%.

DFIC

• 1D: 0.28%
• 1M: 0.63%
• YTD: 10.96%
• 6M: 11.16%
• 1Y: 28.82%
• 3Y*: 19.97%
• 5Y*: —
• 10Y*: —

DFIEX

• 1D: 0.36%
• 1M: 0.63%
• YTD: 10.65%
• 6M: 10.92%
• 1Y: 28.45%
• 3Y*: 18.32%
• 5Y*: 10.33%
• 10Y*: 10.10%

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

DFIC vs. DFIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFIC DFA Dimensional International Core Equity 2 ETF	10.96%	37.09%	4.10%	17.32%	-8.86%
DFIEX DFA International Core Equity Portfolio I	10.65%	36.18%	3.99%	17.50%	-8.87%

Correlation

The correlation between DFIC and DFIEX is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 24, 2022	0.98

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

Return for Risk

DFIC vs. DFIEX — Risk / Return Rank

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

DFIC

DFIC Risk / Return Rank: 61
DFIC Sharpe Ratio Rank: 64
DFIC Sortino Ratio Rank: 62
DFIC Omega Ratio Rank: 63
DFIC Calmar Ratio Rank: 55
DFIC Martin Ratio Rank: 60

DFIEX

DFIEX Risk / Return Rank: 50
DFIEX Sharpe Ratio Rank: 52
DFIEX Sortino Ratio Rank: 50
DFIEX Omega Ratio Rank: 49
DFIEX Calmar Ratio Rank: 48
DFIEX Martin Ratio Rank: 51

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.

DFIC vs. DFIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Dimensional International Core Equity 2 ETF (DFIC) and DFA International Core Equity Portfolio I (DFIEX). 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.

	DFIC	DFIEX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.96	+0.07
Sortino ratio: Return per unit of downside risk	2.81	2.73	+0.08
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	2.63	2.54	+0.10
Martin ratio: Return relative to average drawdown	10.38	9.85	+0.53

DFIC vs. DFIEX - Sharpe Ratio Comparison

The current DFIC Sharpe Ratio is 2.03, which is comparable to the DFIEX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of DFIC and DFIEX, 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

DFIC vs. DFIEX - Drawdown Comparison

The maximum DFIC drawdown since its inception was -24.40%, smaller than the maximum DFIEX drawdown of -62.22%. Use the drawdown chart below to compare losses from any high point for DFIC and DFIEX.

Drawdown Indicators

	DFIC	DFIEX	Difference
Max Drawdown Largest peak-to-trough decline	-24.40%	-62.22%	+37.82%
Max Drawdown (1Y) Largest decline over 1 year	-11.00%	-11.01%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-13.14%	-12.81%	-0.33%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.04%	—
Current Drawdown Current decline from peak	-0.72%	-0.70%	-0.02%
Average Drawdown Average peak-to-trough decline	-4.51%	-12.15%	+7.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.82%	-0.04%

Volatility

DFIC vs. DFIEX - Volatility Comparison

DFA Dimensional International Core Equity 2 ETF (DFIC) and DFA International Core Equity Portfolio I (DFIEX) have volatilities of 4.52% and 4.62%, 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

	DFIC	DFIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	4.62%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	12.07%	11.75%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	14.24%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.23%	15.81%	+0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.23%	16.38%	-0.15%

DFIC vs. DFIEX - Expense Ratio Comparison

DFIC has a 0.22% expense ratio, which is lower than DFIEX's 0.24% 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

DFIC vs. DFIEX - Dividend Comparison

DFIC's dividend yield for the trailing twelve months is around 2.26%, less than DFIEX's 2.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIC DFA Dimensional International Core Equity 2 ETF	2.26%	2.54%	2.87%	2.55%	1.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFIEX DFA International Core Equity Portfolio I	2.92%	3.22%	3.42%	3.36%	2.88%	2.98%	1.77%	2.90%	2.95%	2.49%	2.76%	4.20%

Frequently Asked Questions

Can I hold both DFIC and DFIEX in my portfolio?

With a correlation of 0.98, DFIC and DFIEX 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, DFIC or DFIEX?

DFIEX has higher volatility (4.62%) compared to DFIC (4.52%). In terms of maximum drawdown, DFIC dropped -24.40% vs DFIEX's -62.22%.

Which has better risk-adjusted returns?

DFIC currently has the higher Sharpe Ratio (2.03 vs 1.96), 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.