DFISX vs. DFIS

Last updated Jun 23, 2026

DFISX (DFA International Small Company Portfolio) and DFIS (Dimensional International Small Cap ETF) are both Foreign Small & Mid Cap Equities funds from Dimensional. Over the past 3 years, DFISX returned 17.25%/yr vs 19.75%/yr for DFIS. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.39% expense ratio.

Performance

DFISX vs. DFIS - Performance Comparison

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

Returns By Period

In the year-to-date period, DFISX achieves a 8.12% return, which is significantly lower than DFIS's 9.85% return.

DFISX

• 1D: 0.00%
• 1M: -0.11%
• YTD: 8.12%
• 6M: 8.42%
• 1Y: 24.90%
• 3Y*: 17.25%
• 5Y*: 7.67%
• 10Y*: 8.37%

DFIS

• 1D: 0.22%
• 1M: -0.39%
• YTD: 9.85%
• 6M: 10.18%
• 1Y: 27.72%
• 3Y*: 19.75%
• 5Y*: —
• 10Y*: —

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

DFISX vs. DFIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFISX DFA International Small Company Portfolio	8.12%	36.35%	3.76%	14.46%	-10.83%
DFIS Dimensional International Small Cap ETF	9.85%	37.49%	3.80%	15.19%	-12.50%

Correlation

The correlation between DFISX and DFIS is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 24, 2022	0.97

The correlation between DFISX and DFIS has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

DFISX vs. DFIS — Risk / Return Rank

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

DFISX

DFISX Risk / Return Rank: 38
DFISX Sharpe Ratio Rank: 40
DFISX Sortino Ratio Rank: 40
DFISX Omega Ratio Rank: 40
DFISX Calmar Ratio Rank: 33
DFISX Martin Ratio Rank: 35

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: 47
DFIS 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.

DFISX vs. DFIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA International Small Company Portfolio (DFISX) and Dimensional International Small Cap ETF (DFIS). 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.

	DFISX	DFIS	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.86	-0.13
Sortino ratio: Return per unit of downside risk	2.45	2.59	-0.14
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	2.04	2.24	-0.20
Martin ratio: Return relative to average drawdown	7.35	8.51	-1.16

DFISX vs. DFIS - Sharpe Ratio Comparison

The current DFISX Sharpe Ratio is 1.73, which is comparable to the DFIS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of DFISX and DFIS, 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

DFISX vs. DFIS - Drawdown Comparison

The maximum DFISX drawdown since its inception was -60.66%, which is greater than DFIS's maximum drawdown of -27.23%. Use the drawdown chart below to compare losses from any high point for DFISX and DFIS.

Drawdown Indicators

	DFISX	DFIS	Difference
Max Drawdown Largest peak-to-trough decline	-60.66%	-27.23%	-33.43%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-12.44%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-13.68%	-13.55%	-0.13%
Max Drawdown (5Y) Largest decline over 5 years	-35.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.00%	—	—
Current Drawdown Current decline from peak	-2.68%	-2.28%	-0.40%
Average Drawdown Average peak-to-trough decline	-11.63%	-6.13%	-5.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	3.27%	+0.03%

Volatility

DFISX vs. DFIS - Volatility Comparison

The current volatility for DFA International Small Company Portfolio (DFISX) is 4.53%, while Dimensional International Small Cap ETF (DFIS) has a volatility of 4.86%. This indicates that DFISX experiences smaller price fluctuations and is considered to be less risky than DFIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFISX	DFIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	4.86%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	11.60%	12.68%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	14.11%	15.00%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	17.34%	-1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	17.34%	-1.15%

DFISX vs. DFIS - Expense Ratio Comparison

Both DFISX and DFIS have an expense ratio of 0.39%.

Dividends

DFISX vs. DFIS - Dividend Comparison

DFISX's dividend yield for the trailing twelve months is around 2.91%, more than DFIS's 2.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIS Dimensional International Small Cap ETF	2.03%	2.23%	2.19%	2.36%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFISX DFA International Small Company Portfolio	2.91%	3.19%	3.39%	3.01%	3.51%	3.06%	1.71%	4.54%	7.74%	1.27%	4.44%	4.47%

Frequently Asked Questions

Can I hold both DFISX and DFIS in my portfolio?

With a correlation of 0.97, DFISX and DFIS 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, DFISX or DFIS?

DFIS has higher volatility (4.86%) compared to DFISX (4.53%). In terms of maximum drawdown, DFISX dropped -60.66% vs DFIS's -27.23%.

Which has better risk-adjusted returns?

DFIS currently has the higher Sharpe Ratio (1.86 vs 1.73), 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.