DFIS vs. NIXT

Last updated Jun 14, 2026

DFIS (Dimensional International Small Cap ETF) and NIXT (Research Affiliates Deletions ETF) are both exchange-traded funds - DFIS is a Foreign Small & Mid Cap Equities fund actively managed by Dimensional, while NIXT is a Mid Cap Value Equities fund tracking the Research Affiliates Deletions Index. DFIS is actively managed, while NIXT is passively managed. Over the past year, DFIS returned 26.57% vs 35.29% for NIXT. A 0.59 correlation means they provide meaningful diversification when combined. DFIS charges 0.39%/yr vs 0.09%/yr for NIXT.

Performance

DFIS vs. NIXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional International Small Cap ETF (DFIS) and Research Affiliates Deletions ETF (NIXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFIS achieves a 10.06% return, which is significantly lower than NIXT's 20.40% return.

DFIS

• 1D: 0.57%
• 1M: 0.95%
• YTD: 10.06%
• 6M: 12.14%
• 1Y: 26.57%
• 3Y*: 18.52%
• 5Y*: —
• 10Y*: —

NIXT

• 1D: 0.85%
• 1M: 4.68%
• YTD: 20.40%
• 6M: 17.28%
• 1Y: 35.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFIS vs. NIXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFIS Dimensional International Small Cap ETF	10.06%	37.49%	-3.08%
NIXT Research Affiliates Deletions ETF	20.40%	4.94%	4.60%

Correlation

The correlation between DFIS and NIXT is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.59

The correlation between DFIS and NIXT has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.

Return for Risk

DFIS vs. NIXT — Risk / Return Rank

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

DFIS

DFIS Risk / Return Rank: 53
DFIS Sharpe Ratio Rank: 57
DFIS Sortino Ratio Rank: 56
DFIS Omega Ratio Rank: 55
DFIS Calmar Ratio Rank: 46
DFIS Martin Ratio Rank: 51

NIXT

NIXT Risk / Return Rank: 54
NIXT Sharpe Ratio Rank: 50
NIXT Sortino Ratio Rank: 51
NIXT Omega Ratio Rank: 45
NIXT Calmar Ratio Rank: 62
NIXT Martin Ratio Rank: 59

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.

DFIS vs. NIXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Small Cap ETF (DFIS) and Research Affiliates Deletions ETF (NIXT). 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.

	DFIS	NIXT	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.52	+0.15
Sortino ratio: Return per unit of downside risk	2.35	2.24	+0.12
Omega ratio: Gain probability vs. loss probability	1.30	1.26	+0.04
Calmar ratio: Return relative to maximum drawdown	2.02	2.76	-0.74
Martin ratio: Return relative to average drawdown	7.69	9.35	-1.66

DFIS vs. NIXT - Sharpe Ratio Comparison

The current DFIS Sharpe Ratio is 1.67, which is comparable to the NIXT Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of DFIS and NIXT, 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

DFIS vs. NIXT - Drawdown Comparison

The maximum DFIS drawdown since its inception was -27.23%, roughly equal to the maximum NIXT drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for DFIS and NIXT.

Drawdown Indicators

	DFIS	NIXT	Difference
Max Drawdown Largest peak-to-trough decline	-27.23%	-27.75%	+0.52%
Max Drawdown (1Y) Largest decline over 1 year	-12.44%	-11.71%	-0.73%
Max Drawdown (3Y) Largest decline over 3 years	-13.55%	—	—
Current Drawdown Current decline from peak	-2.10%	-0.62%	-1.48%
Average Drawdown Average peak-to-trough decline	-6.15%	-5.89%	-0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	3.46%	-0.19%

Volatility

DFIS vs. NIXT - Volatility Comparison

Dimensional International Small Cap ETF (DFIS) and Research Affiliates Deletions ETF (NIXT) have volatilities of 5.44% and 5.32%, 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

	DFIS	NIXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	5.32%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	12.66%	14.26%	-1.60%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	21.30%	-6.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	23.23%	-5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.37%	23.23%	-5.86%

DFIS vs. NIXT - Expense Ratio Comparison

DFIS has a 0.39% expense ratio, which is higher than NIXT's 0.09% expense ratio.

Dividends

DFIS vs. NIXT - Dividend Comparison

DFIS's dividend yield for the trailing twelve months is around 2.02%, more than NIXT's 1.33% yield.

Position	TTM	2025	2024	2023	2022
DFIS Dimensional International Small Cap ETF	2.02%	2.23%	2.19%	2.36%	1.13%
NIXT Research Affiliates Deletions ETF	1.33%	1.64%	1.39%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFIS and NIXT in my portfolio?

DFIS and NIXT have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFIS or NIXT?

DFIS has higher volatility (5.44%) compared to NIXT (5.32%). In terms of maximum drawdown, DFIS dropped -27.23% vs NIXT's -27.75%.

Which ETF is better, DFIS or NIXT?

On 1-year performance, NIXT leads with 35.29% vs 26.57% for DFIS. On fees, NIXT is cheaper at 0.09% per year. On volatility, NIXT has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFIS or NIXT?

Over the 1-year period, NIXT has performed better with a 35.29% return vs 26.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFIS or NIXT?

NIXT is cheaper with a 0.09% expense ratio, compared with 0.39% for DFIS.

Which ETF pays a higher dividend yield, DFIS or NIXT?

DFIS has the higher dividend yield at 2.02%, compared with 1.33% for NIXT.

What is the main difference between DFIS and NIXT?

DFIS is categorized as Foreign Small & Mid Cap Equities, while NIXT is Mid Cap Value Equities. They also come from different issuers: Dimensional and Research Affiliates. Their fees differ too: 0.39% for DFIS and 0.09% for NIXT.

Which has better risk-adjusted returns?

DFIS currently has the higher Sharpe Ratio (1.67 vs 1.52), 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.