DFIV vs. DFAW

Last updated Aug 4, 2026

DFIV (Dimensional International Value ETF) and DFAW (Dimensional World Equity ETF) are both exchange-traded funds - DFIV is a Foreign Large Cap Equities fund actively managed by Dimensional, while DFAW is a Global Equities fund actively managed by Dimensional. Both are actively managed. Over the past year, DFIV returned 37.39% vs 27.45% for DFAW. Their 0.77 correlation means they have sometimes moved together and sometimes differently. DFIV charges 0.27%/yr vs 0.25%/yr for DFAW.

Performance

DFIV vs. DFAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional International Value ETF (DFIV) and Dimensional World Equity ETF (DFAW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFIV achieves a 16.64% return, which is significantly higher than DFAW's 14.45% return.

DFIV

• 1D: -0.03%
• 1M: 4.34%
• 6M: 9.34%
• YTD: 16.64%
• 1Y: 37.39%
• 3Y*: 23.78%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.08%

DFAW

• 1D: 1.40%
• 1M: 1.61%
• 6M: 9.82%
• YTD: 14.45%
• 1Y: 27.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.35%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFAW Dimensional World Equity ETF	$6.19M	$6.32M	$7.79M
DFIV Dimensional International Value ETF	$79.30M	$68.23M	$67.86M

DFIV vs. DFAW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFIV Dimensional International Value ETF	16.64%	45.36%	7.26%	6.48%
DFAW Dimensional World Equity ETF	14.45%	20.62%	15.49%	11.44%

Correlation

The correlation between DFIV and DFAW is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (All Time) Calculated using the full available price history since Sep 27, 2023	0.77

The correlation between DFIV and DFAW has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.

DFIV vs. DFAW - Sectors Allocation Comparison

Sectors	DFIV	DFAW
Financial Services	34.3%	15.7%
Energy	14.1%	5.1%
Basic Materials	10.5%	4.8%
Industrials	9.8%	13.7%
Consumer Cyclical	9.7%	9.9%
Healthcare	5.4%	8.7%
Consumer Defensive	5.2%	4.9%
Communication Services	4.0%	6.4%
Technology	3.1%	26.3%
Utilities	2.3%	2.2%
Real Estate	1.7%	2.3%

Return for Risk

DFIV vs. DFAW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFIV

DFIV Risk / Return Rank: 92
DFIV Sharpe Ratio Rank: 94
DFIV Sortino Ratio Rank: 94
DFIV Omega Ratio Rank: 93
DFIV Calmar Ratio Rank: 90
DFIV Martin Ratio Rank: 91

DFAW

DFAW Risk / Return Rank: 86
DFAW Sharpe Ratio Rank: 88
DFAW Sortino Ratio Rank: 87
DFAW Omega Ratio Rank: 87
DFAW Calmar Ratio Rank: 83
DFAW Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFIV vs. DFAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Value ETF (DFIV) and Dimensional World Equity ETF (DFAW). 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.

	DFIV	DFAW	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.15	+0.56
Sortino ratio: Return per unit of downside risk	3.67	2.95	+0.72
Omega ratio: Gain probability vs. loss probability	1.49	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	3.89	3.10	+0.79
Martin ratio: Return relative to average drawdown	15.07	13.38	+1.69

DFIV vs. DFAW - Sharpe Ratio Comparison

The current DFIV Sharpe Ratio is 2.71, which is comparable to the DFAW Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of DFIV and DFAW, 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

DFIV vs. DFAW - Drawdown Comparison

The maximum DFIV drawdown since its inception was -25.42%, which is greater than DFAW's maximum drawdown of -16.93%. Use the drawdown chart below to compare losses from any high point for DFIV and DFAW.

Drawdown Indicators

	DFIV	DFAW	Difference
Max Drawdown Largest peak-to-trough decline	-25.42%	-16.93%	-8.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.66%	-8.88%	-0.78%
Max Drawdown (3Y) Largest decline over 3 years	-14.72%	—	—
Current Drawdown Current decline from peak	-0.50%	0.00%	-0.50%
Average Drawdown Average peak-to-trough decline	-4.36%	-1.67%	-2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.06%	+0.43%

Volatility

DFIV vs. DFAW - Volatility Comparison

Dimensional International Value ETF (DFIV) and Dimensional World Equity ETF (DFAW) have volatilities of 3.64% and 3.60%, 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

	DFIV	DFAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	3.60%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	11.53%	10.52%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	13.91%	12.88%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.55%	14.46%	+2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	14.46%	+2.09%

DFIV vs. DFAW - Expense Ratio Comparison

DFIV has a 0.27% expense ratio, which is higher than DFAW's 0.25% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFIV vs. DFAW - Dividend Comparison

DFIV's dividend yield for the trailing twelve months is around 2.58%, more than DFAW's 1.55% yield.

Position	TTM	2025	2024	2023	2022	2021
DFAW Dimensional World Equity ETF	1.55%	1.71%	1.47%	0.42%	0.00%	0.00%
DFIV Dimensional International Value ETF	2.58%	2.92%	3.88%	3.93%	3.84%	2.30%

Frequently Asked Questions

Can I hold both DFIV and DFAW in my portfolio?

DFIV and DFAW have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFIV or DFAW?

DFIV has higher volatility (3.64%) compared to DFAW (3.60%). In terms of maximum drawdown, DFIV dropped -25.42% vs DFAW's -16.93%.

Which ETF is better, DFIV or DFAW?

On 1-year performance, DFIV leads with 37.39% vs 27.45% for DFAW. On fees, DFAW is cheaper at 0.25% 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, DFIV or DFAW?

Over the 1-year period, DFIV has performed better with a 37.39% return vs 27.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFIV or DFAW?

DFAW is cheaper with a 0.25% expense ratio, compared with 0.27% for DFIV.

Which ETF pays a higher dividend yield, DFIV or DFAW?

DFIV has the higher dividend yield at 2.58%, compared with 1.55% for DFAW.

What is the main difference between DFIV and DFAW?

DFIV is categorized as Foreign Large Cap Equities, while DFAW is Global Equities. Their fees differ too: 0.27% for DFIV and 0.25% for DFAW.

Which has better risk-adjusted returns?

DFIV currently has the higher Sharpe Ratio (2.71 vs 2.15), 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.