DFIP vs. DFCF

Last updated Jul 12, 2026

DFIP (Dimensional Inflation-Protected Securities ETF) and DFCF (Dimensional Core Fixed Income ETF) are both exchange-traded funds - DFIP is a Inflation-Protected Bonds fund actively managed by Dimensional, while DFCF is a Intermediate Core Bond fund actively managed by Dimensional. Both are actively managed. Over the past 3 years, DFIP returned 4.44%/yr vs 5.01%/yr for DFCF. A 0.80 correlation means they provide meaningful diversification when combined. DFIP charges 0.11%/yr vs 0.17%/yr for DFCF.

Performance

DFIP vs. DFCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Inflation-Protected Securities ETF (DFIP) and Dimensional Core Fixed Income ETF (DFCF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFIP achieves a 1.01% return, which is significantly higher than DFCF's 0.26% return.

DFIP

• 1D: 0.02%
• 1M: -0.31%
• 6M: 0.79%
• YTD: 1.01%
• 1Y: 3.33%
• 3Y*: 4.44%
• 5Y*: —
• 10Y*: —

DFCF

• 1D: -0.12%
• 1M: -0.37%
• 6M: -0.04%
• YTD: 0.26%
• 1Y: 4.38%
• 3Y*: 5.01%
• 5Y*: —
• 10Y*: —

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

DFIP vs. DFCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFIP Dimensional Inflation-Protected Securities ETF	1.01%	7.54%	1.72%	4.07%	-12.39%	-0.37%
DFCF Dimensional Core Fixed Income ETF	0.26%	7.89%	1.86%	6.94%	-14.48%	0.04%

Correlation

The correlation between DFIP and DFCF is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021	0.80

The correlation between DFIP and DFCF has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

DFIP vs. DFCF — Risk / Return Rank

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

DFIP

DFIP Risk / Return Rank: 32
DFIP Sharpe Ratio Rank: 30
DFIP Sortino Ratio Rank: 30
DFIP Omega Ratio Rank: 28
DFIP Calmar Ratio Rank: 38
DFIP Martin Ratio Rank: 36

DFCF

DFCF Risk / Return Rank: 33
DFCF Sharpe Ratio Rank: 34
DFCF Sortino Ratio Rank: 32
DFCF Omega Ratio Rank: 30
DFCF Calmar Ratio Rank: 35
DFCF Martin Ratio Rank: 34

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.

DFIP vs. DFCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Inflation-Protected Securities ETF (DFIP) and Dimensional Core Fixed Income ETF (DFCF). 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.

	DFIP	DFCF	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.01	-0.09
Sortino ratio: Return per unit of downside risk	1.36	1.46	-0.10
Omega ratio: Gain probability vs. loss probability	1.16	1.17	-0.01
Calmar ratio: Return relative to maximum drawdown	1.57	1.43	+0.13
Martin ratio: Return relative to average drawdown	4.48	4.05	+0.43

DFIP vs. DFCF - Sharpe Ratio Comparison

The current DFIP Sharpe Ratio is 0.91, which is comparable to the DFCF Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of DFIP and DFCF, 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

DFIP vs. DFCF - Drawdown Comparison

The maximum DFIP drawdown since its inception was -14.96%, smaller than the maximum DFCF drawdown of -19.56%. Use the drawdown chart below to compare losses from any high point for DFIP and DFCF.

Drawdown Indicators

	DFIP	DFCF	Difference
Max Drawdown Largest peak-to-trough decline	-14.96%	-19.56%	+4.60%
Max Drawdown (1Y) Largest decline over 1 year	-2.06%	-2.79%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-4.74%	-5.05%	+0.31%
Current Drawdown Current decline from peak	-0.94%	-1.57%	+0.63%
Average Drawdown Average peak-to-trough decline	-6.82%	-7.89%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.99%	-0.27%

Volatility

DFIP vs. DFCF - Volatility Comparison

Dimensional Inflation-Protected Securities ETF (DFIP) and Dimensional Core Fixed Income ETF (DFCF) have volatilities of 1.32% and 1.29%, 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

	DFIP	DFCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.29%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	3.10%	-0.50%
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	3.97%	-0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.76%	6.42%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.76%	6.42%	+0.34%

DFIP vs. DFCF - Expense Ratio Comparison

DFIP has a 0.11% expense ratio, which is lower than DFCF's 0.17% 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

DFIP vs. DFCF - Dividend Comparison

DFIP's dividend yield for the trailing twelve months is around 4.65%, more than DFCF's 4.36% yield.

Position	TTM	2025	2024	2023	2022	2021
DFCF Dimensional Core Fixed Income ETF	4.36%	4.48%	4.61%	4.51%	3.27%	0.16%
DFIP Dimensional Inflation-Protected Securities ETF	4.65%	4.70%	3.69%	3.68%	5.97%	0.56%

Frequently Asked Questions

Can I hold both DFIP and DFCF in my portfolio?

DFIP and DFCF have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFIP or DFCF?

DFIP has higher volatility (1.32%) compared to DFCF (1.29%). In terms of maximum drawdown, DFIP dropped -14.96% vs DFCF's -19.56%.

Which ETF is better, DFIP or DFCF?

On 3-year performance, DFCF leads with 5.01% vs 4.44% for DFIP. On fees, DFIP is cheaper at 0.11% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFIP or DFCF?

Over the 3-year period, DFCF has performed better with a 5.01% return vs 4.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFIP or DFCF?

DFIP is cheaper with a 0.11% expense ratio, compared with 0.17% for DFCF.

Which ETF pays a higher dividend yield, DFIP or DFCF?

DFIP has the higher dividend yield at 4.65%, compared with 4.36% for DFCF.

What is the main difference between DFIP and DFCF?

DFIP is categorized as Inflation-Protected Bonds, while DFCF is Intermediate Core Bond. Their fees differ too: 0.11% for DFIP and 0.17% for DFCF.

Which has better risk-adjusted returns?

DFCF currently has the higher Sharpe Ratio (1.01 vs 0.91), 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.