DFLV vs. VWIAX

Last updated Jul 12, 2026

DFLV (Dimensional US Large Cap Value ETF) and VWIAX (Vanguard Wellesley Income Fund Admiral Shares) are both funds - DFLV is a Large Cap Value Equities fund actively managed by Dimensional, while VWIAX is a Diversified Portfolio fund actively managed by Vanguard. Both are actively managed. Over the past 3 years, DFLV returned 18.01%/yr vs 9.00%/yr for VWIAX. A 0.74 correlation means they provide meaningful diversification when combined. DFLV charges 0.22%/yr vs 0.16%/yr for VWIAX.

Performance

DFLV vs. VWIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Large Cap Value ETF (DFLV) and Vanguard Wellesley Income Fund Admiral Shares (VWIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFLV achieves a 17.78% return, which is significantly higher than VWIAX's 3.63% return.

DFLV

• 1D: 0.40%
• 1M: 0.64%
• 6M: 13.70%
• YTD: 17.78%
• 1Y: 28.87%
• 3Y*: 18.01%
• 5Y*: —
• 10Y*: —

VWIAX

• 1D: 0.19%
• 1M: -0.04%
• 6M: 2.68%
• YTD: 3.63%
• 1Y: 9.16%
• 3Y*: 9.00%
• 5Y*: 4.04%
• 10Y*: 5.62%

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

DFLV vs. VWIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFLV Dimensional US Large Cap Value ETF	17.78%	15.90%	12.88%	12.31%	-0.94%
VWIAX Vanguard Wellesley Income Fund Admiral Shares	3.63%	11.08%	5.92%	7.07%	-1.46%

Correlation

The correlation between DFLV and VWIAX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Dec 7, 2022	0.74

The correlation between DFLV and VWIAX has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.

Return for Risk

DFLV vs. VWIAX — Risk / Return Rank

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

DFLV

DFLV Risk / Return Rank: 91
DFLV Sharpe Ratio Rank: 91
DFLV Sortino Ratio Rank: 91
DFLV Omega Ratio Rank: 88
DFLV Calmar Ratio Rank: 93
DFLV Martin Ratio Rank: 92

VWIAX

VWIAX Risk / Return Rank: 55
VWIAX Sharpe Ratio Rank: 60
VWIAX Sortino Ratio Rank: 62
VWIAX Omega Ratio Rank: 56
VWIAX Calmar Ratio Rank: 48
VWIAX Martin Ratio Rank: 49

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. VWIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Large Cap Value ETF (DFLV) and Vanguard Wellesley Income Fund Admiral Shares (VWIAX). 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	VWIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	1.72	+0.74
Sortino ratio: Return per unit of downside risk	3.45	2.47	+0.98
Omega ratio: Gain probability vs. loss probability	1.44	1.31	+0.13
Calmar ratio: Return relative to maximum drawdown	5.14	2.14	+3.00
Martin ratio: Return relative to average drawdown	17.96	8.03	+9.93

DFLV vs. VWIAX - Sharpe Ratio Comparison

The current DFLV Sharpe Ratio is 2.46, which is higher than the VWIAX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of DFLV and VWIAX, 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. VWIAX - Drawdown Comparison

The maximum DFLV drawdown since its inception was -16.80%, smaller than the maximum VWIAX drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for DFLV and VWIAX.

Drawdown Indicators

	DFLV	VWIAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.80%	-21.64%	+4.84%
Max Drawdown (1Y) Largest decline over 1 year	-5.48%	-4.15%	-1.33%
Max Drawdown (3Y) Largest decline over 3 years	-16.80%	-6.96%	-9.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.41%	—
Current Drawdown Current decline from peak	0.00%	-0.24%	+0.24%
Average Drawdown Average peak-to-trough decline	-3.01%	-2.21%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	1.10%	+0.48%

Volatility

DFLV vs. VWIAX - Volatility Comparison

Dimensional US Large Cap Value ETF (DFLV) has a higher volatility of 3.44% compared to Vanguard Wellesley Income Fund Admiral Shares (VWIAX) at 1.48%. This indicates that DFLV's price experiences larger fluctuations and is considered to be riskier than VWIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFLV	VWIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.44%	1.48%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	3.96%	+4.20%
Volatility (1Y) Calculated over the trailing 1-year period	11.47%	5.18%	+6.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	6.99%	+7.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.15%	6.92%	+7.23%

DFLV vs. VWIAX - Expense Ratio Comparison

DFLV has a 0.22% expense ratio, which is higher than VWIAX's 0.16% 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. VWIAX - Dividend Comparison

DFLV's dividend yield for the trailing twelve months is around 1.39%, less than VWIAX's 7.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFLV Dimensional US Large Cap Value ETF	1.39%	1.61%	1.65%	1.72%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VWIAX Vanguard Wellesley Income Fund Admiral Shares	7.83%	7.93%	6.69%	4.80%	7.75%	6.11%	4.37%	4.00%	7.64%	3.25%	4.07%	5.66%

Frequently Asked Questions

Can I hold both DFLV and VWIAX in my portfolio?

DFLV and VWIAX have a correlation of 0.78, 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 VWIAX?

DFLV has higher volatility (3.44%) compared to VWIAX (1.48%). In terms of maximum drawdown, DFLV dropped -16.80% vs VWIAX's -21.64%.

Which has better risk-adjusted returns?

DFLV currently has the higher Sharpe Ratio (2.46 vs 1.72), 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.