DFIV vs. DHEAX

Last updated Jun 14, 2026

DFIV (Dimensional International Value ETF) and DHEAX (Diamond Hill Short Duration Securitized Bond Fund) are both funds - DFIV is a Foreign Large Cap Equities fund actively managed by Dimensional, while DHEAX is a Short-Term Bond fund managed by Diamond Hill. Over the past 3 years, DFIV returned 23.38%/yr vs 7.45%/yr for DHEAX. At a 0.12 correlation, their price movements are largely independent. DFIV charges 0.27%/yr vs 0.83%/yr for DHEAX.

Performance

DFIV vs. DHEAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional International Value ETF (DFIV) and Diamond Hill Short Duration Securitized Bond Fund (DHEAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFIV achieves a 12.20% return, which is significantly higher than DHEAX's 1.75% return.

DFIV

• 1D: 0.58%
• 1M: 1.88%
• YTD: 12.20%
• 6M: 13.92%
• 1Y: 34.38%
• 3Y*: 23.38%
• 5Y*: —
• 10Y*: —

DHEAX

• 1D: 0.10%
• 1M: 0.43%
• YTD: 1.75%
• 6M: 1.83%
• 1Y: 4.90%
• 3Y*: 7.45%
• 5Y*: 4.24%
• 10Y*: —

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

DFIV vs. DHEAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFIV Dimensional International Value ETF	12.20%	45.36%	7.26%	17.75%	-3.70%	0.50%
DHEAX Diamond Hill Short Duration Securitized Bond Fund	1.75%	5.70%	9.15%	8.38%	-3.57%	-0.08%

Correlation

The correlation between DFIV and DHEAX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (All Time) Calculated using the full available price history since Sep 13, 2021	0.12

The correlation between DFIV and DHEAX shifts across timeframes, from 0.12 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DFIV vs. DHEAX — Risk / Return Rank

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

DFIV

DFIV Risk / Return Rank: 82
DFIV Sharpe Ratio Rank: 85
DFIV Sortino Ratio Rank: 84
DFIV Omega Ratio Rank: 83
DFIV Calmar Ratio Rank: 78
DFIV Martin Ratio Rank: 79

DHEAX

DHEAX Risk / Return Rank: 99
DHEAX Sharpe Ratio Rank: 99
DHEAX Sortino Ratio Rank: 99
DHEAX Omega Ratio Rank: 99
DHEAX Calmar Ratio Rank: 99
DHEAX Martin Ratio Rank: 99

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.

DFIV vs. DHEAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Value ETF (DFIV) and Diamond Hill Short Duration Securitized Bond Fund (DHEAX). 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	DHEAX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	4.47	-2.08
Sortino ratio: Return per unit of downside risk	3.26	7.56	-4.30
Omega ratio: Gain probability vs. loss probability	1.43	2.48	-1.06
Calmar ratio: Return relative to maximum drawdown	3.48	9.84	-6.36
Martin ratio: Return relative to average drawdown	13.34	43.14	-29.80

DFIV vs. DHEAX - Sharpe Ratio Comparison

The current DFIV Sharpe Ratio is 2.39, which is lower than the DHEAX Sharpe Ratio of 4.47. The chart below compares the historical Sharpe Ratios of DFIV and DHEAX, 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. DHEAX - Drawdown Comparison

The maximum DFIV drawdown since its inception was -25.42%, which is greater than DHEAX's maximum drawdown of -12.34%. Use the drawdown chart below to compare losses from any high point for DFIV and DHEAX.

Drawdown Indicators

	DFIV	DHEAX	Difference
Max Drawdown Largest peak-to-trough decline	-25.42%	-12.34%	-13.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.66%	-0.50%	-9.16%
Max Drawdown (3Y) Largest decline over 3 years	-14.72%	-0.50%	-14.22%
Max Drawdown (5Y) Largest decline over 5 years	—	-5.06%	—
Current Drawdown Current decline from peak	-0.43%	0.00%	-0.43%
Average Drawdown Average peak-to-trough decline	-4.46%	-0.80%	-3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	0.11%	+2.41%

Volatility

DFIV vs. DHEAX - Volatility Comparison

Dimensional International Value ETF (DFIV) has a higher volatility of 4.50% compared to Diamond Hill Short Duration Securitized Bond Fund (DHEAX) at 0.18%. This indicates that DFIV's price experiences larger fluctuations and is considered to be riskier than DHEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFIV	DHEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	0.18%	+4.32%
Volatility (6M) Calculated over the trailing 6-month period	11.46%	0.73%	+10.73%
Volatility (1Y) Calculated over the trailing 1-year period	14.10%	1.10%	+13.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	1.52%	+15.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.66%	2.26%	+14.40%

DFIV vs. DHEAX - Expense Ratio Comparison

DFIV has a 0.27% expense ratio, which is lower than DHEAX's 0.83% expense ratio.

Dividends

DFIV vs. DHEAX - Dividend Comparison

DFIV's dividend yield for the trailing twelve months is around 2.54%, less than DHEAX's 5.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFIV Dimensional International Value ETF	2.54%	2.92%	3.88%	3.93%	3.84%	2.30%	0.00%	0.00%	0.00%	0.00%
DHEAX Diamond Hill Short Duration Securitized Bond Fund	5.63%	5.27%	5.94%	5.25%	3.41%	2.31%	2.92%	3.76%	3.45%	3.20%

Frequently Asked Questions

Can I hold both DFIV and DHEAX in my portfolio?

DFIV and DHEAX have a correlation of 0.25, 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 DHEAX?

DFIV has higher volatility (4.50%) compared to DHEAX (0.18%). In terms of maximum drawdown, DFIV dropped -25.42% vs DHEAX's -12.34%.

Which has better risk-adjusted returns?

DHEAX currently has the higher Sharpe Ratio (4.47 vs 2.39), 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.