DFLVX vs. DFLV

Last updated Jun 24, 2026

DFLVX (DFA U.S. Large Cap Value Portfolio) and DFLV (Dimensional US Large Cap Value ETF) are both Large Cap Value Equities funds from Dimensional. Over the past 3 years, DFLVX returned 19.24%/yr vs 18.89%/yr for DFLV. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.22% expense ratio.

Performance

DFLVX vs. DFLV - Performance Comparison

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

Returns By Period

In the year-to-date period, DFLVX achieves a 16.63% return, which is significantly higher than DFLV's 15.66% return.

DFLVX

• 1D: 0.82%
• 1M: 2.72%
• YTD: 16.63%
• 6M: 15.85%
• 1Y: 32.08%
• 3Y*: 19.24%
• 5Y*: 11.94%
• 10Y*: 12.36%

DFLV

• 1D: -0.95%
• 1M: 1.70%
• YTD: 15.66%
• 6M: 14.88%
• 1Y: 30.70%
• 3Y*: 18.89%
• 5Y*: —
• 10Y*: —

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

DFLVX vs. DFLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFLVX DFA U.S. Large Cap Value Portfolio	16.63%	16.36%	12.76%	11.52%	-0.90%
DFLV Dimensional US Large Cap Value ETF	15.66%	15.90%	12.88%	12.31%	-0.94%

Correlation

The correlation between DFLVX and DFLV is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Dec 7, 2022	0.99

The correlation between DFLVX and DFLV has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

DFLVX vs. DFLV — Risk / Return Rank

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

DFLVX

DFLVX Risk / Return Rank: 92
DFLVX Sharpe Ratio Rank: 93
DFLVX Sortino Ratio Rank: 90
DFLVX Omega Ratio Rank: 84
DFLVX Calmar Ratio Rank: 96
DFLVX Martin Ratio Rank: 95

DFLV

DFLV Risk / Return Rank: 88
DFLV Sharpe Ratio Rank: 87
DFLV Sortino Ratio Rank: 87
DFLV Omega Ratio Rank: 84
DFLV Calmar Ratio Rank: 91
DFLV Martin Ratio Rank: 90

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.

DFLVX vs. DFLV - Risk-Adjusted Trends Comparison

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

	DFLVX	DFLV	Difference
Sharpe ratio: Return per unit of total volatility	2.93	2.67	+0.26
Sortino ratio: Return per unit of downside risk	4.09	3.70	+0.39
Omega ratio: Gain probability vs. loss probability	1.51	1.48	+0.04
Calmar ratio: Return relative to maximum drawdown	5.67	5.63	+0.05
Martin ratio: Return relative to average drawdown	20.59	19.53	+1.05

DFLVX vs. DFLV - Sharpe Ratio Comparison

The current DFLVX Sharpe Ratio is 2.93, which is comparable to the DFLV Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of DFLVX and DFLV, 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

DFLVX vs. DFLV - Drawdown Comparison

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

Drawdown Indicators

	DFLVX	DFLV	Difference
Max Drawdown Largest peak-to-trough decline	-65.65%	-16.80%	-48.85%
Max Drawdown (1Y) Largest decline over 1 year	-5.86%	-5.48%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-16.64%	-16.80%	+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	-0.46%	-1.40%	+0.94%
Average Drawdown Average peak-to-trough decline	-8.46%	-3.04%	-5.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	1.58%	+0.02%

Volatility

DFLVX vs. DFLV - Volatility Comparison

DFA U.S. Large Cap Value Portfolio (DFLVX) and Dimensional US Large Cap Value ETF (DFLV) have volatilities of 3.77% and 3.79%, 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

	DFLVX	DFLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	3.79%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	8.42%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	11.36%	11.54%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.87%	14.22%	+1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.40%	14.22%	+4.18%

DFLVX vs. DFLV - Expense Ratio Comparison

Both DFLVX and DFLV 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

DFLVX vs. DFLV - Dividend Comparison

DFLVX's dividend yield for the trailing twelve months is around 1.45%, more than DFLV's 1.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFLV Dimensional US Large Cap Value ETF	1.41%	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	1.45%	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 DFLVX and DFLV in my portfolio?

With a correlation of 0.97, DFLVX and DFLV 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, DFLVX or DFLV?

DFLV has higher volatility (3.79%) compared to DFLVX (3.77%). In terms of maximum drawdown, DFLVX dropped -65.65% vs DFLV's -16.80%.

Which has better risk-adjusted returns?

DFLVX currently has the higher Sharpe Ratio (2.93 vs 2.67), 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.