DFIHX vs. DFSD

Last updated Jun 4, 2026

DFIHX (DFA One Year Fixed Income Portfolio) and DFSD (Dimensional Short-Duration Fixed Income ETF) are both funds - DFIHX is a Ultrashort Bond fund managed by Dimensional, while DFSD is a Short-Term Bond fund actively managed by Dimensional. Over the past 3 years, DFIHX returned 4.46%/yr vs 5.33%/yr for DFSD. At a 0.34 correlation, their price movements are largely independent. DFIHX charges 0.13%/yr vs 0.16%/yr for DFSD.

Performance

DFIHX vs. DFSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA One Year Fixed Income Portfolio (DFIHX) and Dimensional Short-Duration Fixed Income ETF (DFSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFIHX achieves a 1.52% return, which is significantly higher than DFSD's 0.62% return.

DFIHX

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.52%
• 6M: 1.83%
• 1Y: 3.65%
• 3Y*: 4.46%
• 5Y*: 2.76%
• 10Y*: 1.98%

DFSD

• 1D: -0.13%
• 1M: 0.23%
• YTD: 0.62%
• 6M: 0.86%
• 1Y: 4.23%
• 3Y*: 5.33%
• 5Y*: —
• 10Y*: —

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

DFIHX vs. DFSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFIHX DFA One Year Fixed Income Portfolio	1.52%	3.41%	5.41%	4.98%	-1.19%	-0.09%
DFSD Dimensional Short-Duration Fixed Income ETF	0.62%	6.59%	4.60%	6.09%	-5.87%	-0.02%

Correlation

The correlation between DFIHX and DFSD is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021	0.34

The correlation between DFIHX and DFSD shifts across timeframes, from 0.08 (3 years) to 0.34 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFIHX vs. DFSD — Risk / Return Rank

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

DFIHX

DFIHX Risk / Return Rank: 99
DFIHX Sharpe Ratio Rank: 99
DFIHX Sortino Ratio Rank: 99
DFIHX Omega Ratio Rank: 100
DFIHX Calmar Ratio Rank: 98
DFIHX Martin Ratio Rank: 99

DFSD

DFSD Risk / Return Rank: 67
DFSD Sharpe Ratio Rank: 66
DFSD Sortino Ratio Rank: 76
DFSD Omega Ratio Rank: 73
DFSD Calmar Ratio Rank: 58
DFSD Martin Ratio Rank: 62

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.

DFIHX vs. DFSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA One Year Fixed Income Portfolio (DFIHX) and Dimensional Short-Duration Fixed Income ETF (DFSD). 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.

	DFIHX	DFSD	Difference
Sharpe ratio: Return per unit of total volatility	5.17	2.24	+2.93
Sortino ratio: Return per unit of downside risk	8.94	3.44	+5.50
Omega ratio: Gain probability vs. loss probability	7.53	1.44	+6.09
Calmar ratio: Return relative to maximum drawdown	9.49	2.90	+6.60
Martin ratio: Return relative to average drawdown	57.84	11.21	+46.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFIHX vs. DFSD - Sharpe Ratio Comparison

The current DFIHX Sharpe Ratio is 5.17, which is higher than the DFSD Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of DFIHX and DFSD, 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

	DFIHX	DFSD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.17	2.24	+2.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.78	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	0.91	+0.61

Drawdowns

DFIHX vs. DFSD - Drawdown Comparison

The maximum DFIHX drawdown since its inception was -2.53%, smaller than the maximum DFSD drawdown of -8.45%. Use the drawdown chart below to compare losses from any high point for DFIHX and DFSD.

Drawdown Indicators

	DFIHX	DFSD	Difference
Max Drawdown Largest peak-to-trough decline	-2.53%	-8.45%	+5.92%
Max Drawdown (1Y) Largest decline over 1 year	-0.39%	-1.47%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	-0.49%	-1.47%	+0.98%
Max Drawdown (5Y) Largest decline over 5 years	-2.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-2.26%	—	—
Current Drawdown Current decline from peak	0.00%	-0.44%	+0.44%
Average Drawdown Average peak-to-trough decline	-0.15%	-2.07%	+1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.38%	-0.32%

Volatility

DFIHX vs. DFSD - Volatility Comparison

The current volatility for DFA One Year Fixed Income Portfolio (DFIHX) is 0.16%, while Dimensional Short-Duration Fixed Income ETF (DFSD) has a volatility of 0.64%. This indicates that DFIHX experiences smaller price fluctuations and is considered to be less risky than DFSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFIHX	DFSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.16%	0.64%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	0.43%	1.47%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	0.72%	1.90%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.00%	2.78%	-1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.80%	2.78%	-1.98%

DFIHX vs. DFSD - Expense Ratio Comparison

DFIHX has a 0.13% expense ratio, which is lower than DFSD's 0.16% 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

DFIHX vs. DFSD - Dividend Comparison

DFIHX's dividend yield for the trailing twelve months is around 3.58%, less than DFSD's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIHX DFA One Year Fixed Income Portfolio	3.58%	3.26%	4.99%	3.37%	1.07%	0.00%	0.62%	2.12%	1.85%	1.13%	0.66%	0.51%
DFSD Dimensional Short-Duration Fixed Income ETF	3.98%	4.12%	4.81%	3.89%	2.12%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFIHX and DFSD in my portfolio?

DFIHX and DFSD have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFIHX or DFSD?

DFSD has higher volatility (0.64%) compared to DFIHX (0.16%). In terms of maximum drawdown, DFIHX dropped -2.53% vs DFSD's -8.45%.

Which has better risk-adjusted returns?

DFIHX currently has the higher Sharpe Ratio (5.17 vs 2.24), 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.