DFLV vs. DFAI

Last updated Aug 2, 2026

DFLV (Dimensional US Large Cap Value ETF) and DFAI (Dimensional International Core Equity Market ETF) are both exchange-traded funds - DFLV is a Large Cap Value Equities fund actively managed by Dimensional, while DFAI is a Foreign Large Cap Equities fund actively managed by Dimensional. Both are actively managed. Over the past 3 years, DFLV returned 17.54%/yr vs 17.83%/yr for DFAI. Their 0.70 correlation means they have sometimes moved together and sometimes differently. DFLV charges 0.22%/yr vs 0.18%/yr for DFAI.

Performance

DFLV vs. DFAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Large Cap Value ETF (DFLV) and Dimensional International Core Equity Market ETF (DFAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFLV achieves a 19.79% return, which is significantly higher than DFAI's 12.02% return.

DFLV

• 1D: 0.32%
• 1M: 2.44%
• 6M: 14.18%
• YTD: 19.79%
• 1Y: 33.99%
• 3Y*: 17.54%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.47%

DFAI

• 1D: -0.64%
• 1M: 1.25%
• 6M: 6.62%
• YTD: 12.02%
• 1Y: 26.71%
• 3Y*: 17.83%
• 5Y*: 10.32%
• 10Y*: —
• ALL TIME*: 12.23%

*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)
DFAI Dimensional International Core Equity Market ETF	$73.27M	$69.05M	$61.26M
DFLV Dimensional US Large Cap Value ETF	$27.23M	$28.99M	$30.54M

DFLV vs. DFAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFLV Dimensional US Large Cap Value ETF	19.79%	15.90%	12.88%	12.31%	-0.94%
DFAI Dimensional International Core Equity Market ETF	12.02%	34.04%	4.68%	17.60%	-0.50%

Correlation

The correlation between DFLV and DFAI is 0.69, 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.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (All Time) Calculated using the full available price history since Dec 7, 2022	0.70

The correlation between DFLV and DFAI has been stable across timeframes, ranging from 0.69 to 0.70 - a consistent structural relationship.

DFLV vs. DFAI - Sectors Allocation Comparison

Sectors	DFLV	DFAI
Financial Services	22.2%	23.1%
Healthcare	14.5%	8.8%
Energy	14.4%	5.8%
Industrials	13.5%	19.1%
Technology	11.4%	11.1%
Consumer Cyclical	7.4%	8.6%
Basic Materials	6.8%	8.4%
Communication Services	4.7%	3.6%
Consumer Defensive	4.4%	6.4%
Real Estate	0.4%	1.4%
Utilities	-	3.8%

Return for Risk

DFLV vs. DFAI — Risk / Return Rank

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

DFLV

DFLV Risk / Return Rank: 95
DFLV Sharpe Ratio Rank: 96
DFLV Sortino Ratio Rank: 95
DFLV Omega Ratio Rank: 94
DFLV Calmar Ratio Rank: 96
DFLV Martin Ratio Rank: 95

DFAI

DFAI Risk / Return Rank: 77
DFAI Sharpe Ratio Rank: 80
DFAI Sortino Ratio Rank: 79
DFAI Omega Ratio Rank: 78
DFAI Calmar Ratio Rank: 71
DFAI Martin Ratio Rank: 77

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.

DFLV vs. DFAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Large Cap Value ETF (DFLV) and Dimensional International Core Equity Market ETF (DFAI). 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.

	DFLV	DFAI	Difference
Sharpe ratio: Return per unit of total volatility	2.87	1.82	+1.04
Sortino ratio: Return per unit of downside risk	3.96	2.56	+1.39
Omega ratio: Gain probability vs. loss probability	1.52	1.33	+0.19
Calmar ratio: Return relative to maximum drawdown	5.88	2.44	+3.44
Martin ratio: Return relative to average drawdown	21.75	9.59	+12.16

DFLV vs. DFAI - Sharpe Ratio Comparison

The current DFLV Sharpe Ratio is 2.87, which is higher than the DFAI Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of DFLV and DFAI, 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

DFLV vs. DFAI - Drawdown Comparison

The maximum DFLV drawdown since its inception was -16.80%, smaller than the maximum DFAI drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for DFLV and DFAI.

Drawdown Indicators

	DFLV	DFAI	Difference
Max Drawdown Largest peak-to-trough decline	-16.80%	-27.44%	+10.64%
Max Drawdown (1Y) Largest decline over 1 year	-5.48%	-10.95%	+5.47%
Max Drawdown (3Y) Largest decline over 3 years	-16.80%	-13.25%	-3.55%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.44%	—
Current Drawdown Current decline from peak	-0.46%	-0.64%	+0.18%
Average Drawdown Average peak-to-trough decline	-2.96%	-5.01%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.48%	2.78%	-1.30%

Volatility

DFLV vs. DFAI - Volatility Comparison

The current volatility for Dimensional US Large Cap Value ETF (DFLV) is 2.31%, while Dimensional International Core Equity Market ETF (DFAI) has a volatility of 4.24%. This indicates that DFLV experiences smaller price fluctuations and is considered to be less risky than DFAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFLV	DFAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	4.24%	-1.93%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	12.66%	-4.66%
Volatility (1Y) Calculated over the trailing 1-year period	11.28%	14.65%	-3.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.07%	16.00%	-1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.07%	15.69%	-1.62%

DFLV vs. DFAI - Expense Ratio Comparison

DFLV has a 0.22% expense ratio, which is higher than DFAI's 0.18% 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

DFLV vs. DFAI - Dividend Comparison

DFLV's dividend yield for the trailing twelve months is around 1.36%, less than DFAI's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	2.30%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%
DFLV Dimensional US Large Cap Value ETF	1.36%	1.61%	1.65%	1.72%	0.11%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFLV and DFAI in my portfolio?

DFLV and DFAI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFLV or DFAI?

DFAI has higher volatility (4.24%) compared to DFLV (2.31%). In terms of maximum drawdown, DFLV dropped -16.80% vs DFAI's -27.44%.

Which ETF is better, DFLV or DFAI?

On 3-year performance, DFAI leads with 17.83% vs 17.54% for DFLV. On fees, DFAI is cheaper at 0.18% per year. On volatility, DFLV has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFLV or DFAI?

Over the 3-year period, DFAI has performed better with a 17.83% return vs 17.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFLV or DFAI?

DFAI is cheaper with a 0.18% expense ratio, compared with 0.22% for DFLV.

Which ETF pays a higher dividend yield, DFLV or DFAI?

DFAI has the higher dividend yield at 2.30%, compared with 1.36% for DFLV.

What is the main difference between DFLV and DFAI?

DFLV is categorized as Large Cap Value Equities, while DFAI is Foreign Large Cap Equities. Their fees differ too: 0.22% for DFLV and 0.18% for DFAI.

Which has better risk-adjusted returns?

DFLV currently has the higher Sharpe Ratio (2.87 vs 1.82), 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.