DFMC vs. SPY

Last updated Jun 4, 2026

DFMC (Dimensional US Micro Cap Portfolio ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - DFMC is a Small Cap Blend Equities fund actively managed by Dimensional Fund Advisors, while SPY is a S&P 500 fund tracking the S&P 500 Index. DFMC is actively managed, while SPY is passively managed. A 0.77 correlation means they provide meaningful diversification when combined. DFMC charges 0.41%/yr vs 0.09%/yr for SPY.

Performance

DFMC vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Micro Cap Portfolio ETF (DFMC) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DFMC

• 1D: -1.12%
• 1M: 1.77%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

DFMC vs. SPY - Yearly Performance Comparison

	2026 (YTD)
DFMC Dimensional US Micro Cap Portfolio ETF	11.97%
SPY State Street SPDR S&P 500 ETF	15.08%

Correlation

The correlation between DFMC and SPY is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 24, 2026	0.77

Return for Risk

DFMC vs. SPY — Risk / Return Rank

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

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

DFMC vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Micro Cap Portfolio ETF (DFMC) and State Street SPDR S&P 500 ETF (SPY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DFMC	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.38	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.79	0.59	+4.21

Drawdowns

DFMC vs. SPY - Drawdown Comparison

The maximum DFMC drawdown since its inception was -4.29%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for DFMC and SPY.

Drawdown Indicators

	DFMC	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-4.29%	-55.19%	+50.90%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-1.12%	-0.70%	-0.42%
Average Drawdown Average peak-to-trough decline	-0.84%	-9.05%	+8.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.91%	—

Volatility

Volatility by Period

	DFMC	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.19%	11.83%	+4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	17.05%	-0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	17.94%	-1.75%

DFMC vs. SPY - Expense Ratio Comparison

DFMC has a 0.41% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

DFMC vs. SPY - Dividend Comparison

DFMC has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 0.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFMC Dimensional US Micro Cap Portfolio ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both DFMC and SPY in my portfolio?

DFMC and SPY have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFMC or SPY?

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFMC or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.41% for DFMC.

Which ETF pays a higher dividend yield, DFMC or SPY?

SPY has the higher dividend yield at 0.98%, compared with 0.00% for DFMC.

What is the main difference between DFMC and SPY?

DFMC is categorized as Small Cap Blend Equities, while SPY is S&P 500. They also come from different issuers: Dimensional Fund Advisors and State Street. Their fees differ too: 0.41% for DFMC and 0.09% for SPY.