DFIVX vs. RWJ

Last updated Jul 21, 2026

DFIVX (DFA International Value Portfolio Institutional Class) and RWJ (Invesco S&P SmallCap 600 Revenue ETF) are both funds - DFIVX is a Foreign Large Cap Equities fund actively managed by Dimensional, while RWJ is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Revenue-Weighted Index. DFIVX is actively managed, while RWJ is passively managed. Over the past 10 years, DFIVX returned 12.00%/yr vs 13.23%/yr for RWJ. A 0.69 correlation means they provide meaningful diversification when combined. DFIVX charges 0.28%/yr vs 0.39%/yr for RWJ.

Performance

DFIVX vs. RWJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA International Value Portfolio Institutional Class (DFIVX) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFIVX achieves a 13.26% return, which is significantly lower than RWJ's 24.54% return. Over the past 10 years, DFIVX has underperformed RWJ with an annualized return of 12.00%, while RWJ has yielded a comparatively higher 13.23% annualized return.

DFIVX

• 1D: -0.19%
• 1M: 1.29%
• 6M: 9.54%
• YTD: 13.26%
• 1Y: 34.04%
• 3Y*: 21.99%
• 5Y*: 15.84%
• 10Y*: 12.00%
• ALL TIME*: 7.50%

RWJ

• 1D: -0.79%
• 1M: 3.74%
• 6M: 15.25%
• YTD: 24.54%
• 1Y: 37.36%
• 3Y*: 16.58%
• 5Y*: 10.67%
• 10Y*: 13.23%
• ALL TIME*: 12.50%

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

DFIVX vs. RWJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFIVX DFA International Value Portfolio Institutional Class	13.26%	45.24%	6.87%	17.83%	-3.51%	18.57%	-2.13%	15.68%	-17.49%	26.08%
RWJ Invesco S&P SmallCap 600 Revenue ETF	24.54%	7.75%	11.81%	16.21%	-10.97%	52.82%	20.83%	20.29%	-16.95%	5.30%

Correlation

The correlation between DFIVX and RWJ is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Feb 22, 2008	0.69

The correlation between DFIVX and RWJ shifts across timeframes, from 0.57 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFIVX vs. RWJ — Risk / Return Rank

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

DFIVX

DFIVX Risk / Return Rank: 85
DFIVX Sharpe Ratio Rank: 86
DFIVX Sortino Ratio Rank: 82
DFIVX Omega Ratio Rank: 81
DFIVX Calmar Ratio Rank: 88
DFIVX Martin Ratio Rank: 89

RWJ

RWJ Risk / Return Rank: 81
RWJ Sharpe Ratio Rank: 82
RWJ Sortino Ratio Rank: 84
RWJ Omega Ratio Rank: 78
RWJ Calmar Ratio Rank: 83
RWJ Martin Ratio Rank: 78

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.

DFIVX vs. RWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA International Value Portfolio Institutional Class (DFIVX) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). 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.

	DFIVX	RWJ	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.98	+0.38
Sortino ratio: Return per unit of downside risk	3.21	2.89	+0.32
Omega ratio: Gain probability vs. loss probability	1.42	1.34	+0.08
Calmar ratio: Return relative to maximum drawdown	3.53	3.32	+0.21
Martin ratio: Return relative to average drawdown	13.55	10.72	+2.83

DFIVX vs. RWJ - Sharpe Ratio Comparison

The current DFIVX Sharpe Ratio is 2.37, which is comparable to the RWJ Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of DFIVX and RWJ, 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

DFIVX vs. RWJ - Drawdown Comparison

The maximum DFIVX drawdown since its inception was -66.61%, which is greater than RWJ's maximum drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for DFIVX and RWJ.

Drawdown Indicators

	DFIVX	RWJ	Difference
Max Drawdown Largest peak-to-trough decline	-66.61%	-55.97%	-10.64%
Max Drawdown (1Y) Largest decline over 1 year	-9.58%	-11.31%	+1.73%
Max Drawdown (3Y) Largest decline over 3 years	-14.39%	-29.29%	+14.90%
Max Drawdown (5Y) Largest decline over 5 years	-25.29%	-29.29%	+4.00%
Max Drawdown (10Y) Largest decline over 10 years	-48.11%	-51.33%	+3.22%
Current Drawdown Current decline from peak	-0.84%	-1.66%	+0.82%
Average Drawdown Average peak-to-trough decline	-12.20%	-9.18%	-3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	3.49%	-1.00%

Volatility

DFIVX vs. RWJ - Volatility Comparison

The current volatility for DFA International Value Portfolio Institutional Class (DFIVX) is 3.64%, while Invesco S&P SmallCap 600 Revenue ETF (RWJ) has a volatility of 4.21%. This indicates that DFIVX experiences smaller price fluctuations and is considered to be less risky than RWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFIVX	RWJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	4.21%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	11.63%	12.50%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	14.28%	18.96%	-4.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	23.52%	-7.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	26.06%	-8.40%

DFIVX vs. RWJ - Expense Ratio Comparison

DFIVX has a 0.28% expense ratio, which is lower than RWJ's 0.39% expense ratio.

Dividends

DFIVX vs. RWJ - Dividend Comparison

DFIVX's dividend yield for the trailing twelve months is around 3.74%, more than RWJ's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIVX DFA International Value Portfolio Institutional Class	3.74%	4.21%	3.94%	4.40%	3.78%	4.37%	2.42%	3.70%	6.60%	2.85%	3.36%	3.45%
RWJ Invesco S&P SmallCap 600 Revenue ETF	1.01%	1.11%	1.15%	1.34%	1.02%	0.61%	0.89%	1.22%	1.44%	1.11%	0.60%	0.74%

Frequently Asked Questions

Can I hold both DFIVX and RWJ in my portfolio?

DFIVX and RWJ have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFIVX or RWJ?

RWJ has higher volatility (4.21%) compared to DFIVX (3.64%). In terms of maximum drawdown, DFIVX dropped -66.61% vs RWJ's -55.97%.

Which has better risk-adjusted returns?

DFIVX currently has the higher Sharpe Ratio (2.37 vs 1.98), 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.