DFLV vs. DFLVX

Last updated Jun 3, 2026

DFLV (Dimensional US Large Cap Value ETF) and DFLVX (DFA U.S. Large Cap Value Portfolio) are both Large Cap Value Equities funds from Dimensional. Over the past 3 years, DFLV returned 19.44%/yr vs 18.94%/yr for DFLVX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.22% expense ratio.

Performance

DFLV vs. DFLVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Large Cap Value ETF (DFLV) and DFA U.S. Large Cap Value Portfolio (DFLVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFLV achieves a 16.10% return, which is significantly higher than DFLVX's 14.74% return.

DFLV

• 1D: 0.89%
• 1M: 4.63%
• YTD: 16.10%
• 6M: 19.09%
• 1Y: 34.62%
• 3Y*: 19.44%
• 5Y*: —
• 10Y*: —

DFLVX

• 1D: 0.22%
• 1M: 3.97%
• YTD: 14.74%
• 6M: 17.76%
• 1Y: 33.30%
• 3Y*: 18.94%
• 5Y*: 10.77%
• 10Y*: 11.82%

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

DFLV vs. DFLVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFLV Dimensional US Large Cap Value ETF	16.10%	15.90%	12.88%	12.31%	-0.67%
DFLVX DFA U.S. Large Cap Value Portfolio	14.74%	16.36%	12.76%	11.52%	-0.90%

Correlation

The correlation between DFLV and DFLVX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Dec 8, 2022	0.99

The correlation between DFLV and DFLVX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

Return for Risk

DFLV vs. DFLVX — Risk / Return Rank

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

DFLV

DFLV Risk / Return Rank: 90
DFLV Sharpe Ratio Rank: 90
DFLV Sortino Ratio Rank: 91
DFLV Omega Ratio Rank: 88
DFLV Calmar Ratio Rank: 92
DFLV Martin Ratio Rank: 92

DFLVX

DFLVX Risk / Return Rank: 90
DFLVX Sharpe Ratio Rank: 92
DFLVX Sortino Ratio Rank: 90
DFLVX Omega Ratio Rank: 82
DFLVX Calmar Ratio Rank: 94
DFLVX Martin Ratio Rank: 93

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.

DFLV vs. DFLVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Large Cap Value ETF (DFLV) and DFA U.S. Large Cap Value Portfolio (DFLVX). 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.

	DFLV	DFLVX	Difference
Sharpe ratio Return per unit of total volatility	3.10	3.09	+0.01
Sortino ratio Return per unit of downside risk	4.31	4.37	-0.06
Omega ratio Gain probability vs. loss probability	1.55	1.55	+0.01
Calmar ratio Return relative to maximum drawdown	6.34	5.59	+0.76
Martin ratio Return relative to average drawdown	22.32	20.61	+1.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFLV vs. DFLVX - Sharpe Ratio Comparison

The current DFLV Sharpe Ratio is 3.10, which is comparable to the DFLVX Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of DFLV and DFLVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFLV	DFLVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	3.09	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	0.53	+0.63

Drawdowns

DFLV vs. DFLVX - Drawdown Comparison

The maximum DFLV drawdown since its inception was -16.80%, smaller than the maximum DFLVX drawdown of -65.65%. Use the drawdown chart below to compare losses from any high point for DFLV and DFLVX.

Drawdown Indicators

	DFLV	DFLVX	Difference
Max Drawdown Largest peak-to-trough decline	-16.80%	-65.65%	+48.85%
Max Drawdown (1Y) Largest decline over 1 year	-5.48%	-5.86%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	-16.80%	-16.64%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.79%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.08%	-8.48%	+5.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	1.59%	-0.03%

Volatility

DFLV vs. DFLVX - Volatility Comparison

Dimensional US Large Cap Value ETF (DFLV) and DFA U.S. Large Cap Value Portfolio (DFLVX) have volatilities of 2.78% and 2.77%, 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

	DFLV	DFLVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	2.77%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	8.11%	8.17%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	11.22%	11.00%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	15.87%	-1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	18.38%	-4.16%

DFLV vs. DFLVX - Expense Ratio Comparison

Both DFLV and DFLVX have an expense ratio of 0.22%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

DFLV vs. DFLVX - Dividend Comparison

DFLV's dividend yield for the trailing twelve months is around 1.40%, less than DFLVX's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFLV Dimensional US Large Cap Value ETF	1.40%	1.61%	1.65%	1.72%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFLVX DFA U.S. Large Cap Value Portfolio	1.47%	1.71%	1.87%	3.65%	4.56%	5.90%	1.97%	4.04%	7.83%	6.06%	3.77%	6.52%

Frequently Asked Questions

Can I hold both DFLV and DFLVX in my portfolio?

With a correlation of 0.96, DFLV and DFLVX 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, DFLV or DFLVX?

DFLV has higher volatility (2.78%) compared to DFLVX (2.77%). In terms of maximum drawdown, DFLV dropped -16.80% vs DFLVX's -65.65%.

Which has better risk-adjusted returns?

DFLV currently has the higher Sharpe Ratio (3.10 vs 3.09), 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.