DFSCX vs. DFFVX

Last updated Jul 15, 2026

DFSCX (DFA U.S. Micro Cap Portfolio) and DFFVX (DFA U.S. Targeted Value Portfolio Institutional Class) are both mutual funds - DFSCX is a Small Cap Blend Equities fund managed by Dimensional, while DFFVX is a Small Cap Value Equities fund actively managed by Dimensional. Over the past 10 years, DFSCX returned 11.26%/yr vs 11.05%/yr for DFFVX. With a 0.96 correlation, they move nearly in lockstep. DFSCX charges 0.41%/yr vs 0.29%/yr for DFFVX.

Performance

DFSCX vs. DFFVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA U.S. Micro Cap Portfolio (DFSCX) and DFA U.S. Targeted Value Portfolio Institutional Class (DFFVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFSCX achieves a 22.77% return, which is significantly higher than DFFVX's 18.18% return. Both investments have delivered pretty close results over the past 10 years, with DFSCX having a 11.26% annualized return and DFFVX not far behind at 11.05%.

DFSCX

• 1D: -0.47%
• 1M: 2.01%
• 6M: 16.65%
• YTD: 22.77%
• 1Y: 33.13%
• 3Y*: 17.68%
• 5Y*: 11.05%
• 10Y*: 11.26%

DFFVX

• 1D: 0.05%
• 1M: 0.49%
• 6M: 12.58%
• YTD: 18.18%
• 1Y: 26.94%
• 3Y*: 16.08%
• 5Y*: 10.83%
• 10Y*: 11.05%

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

DFSCX vs. DFFVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFSCX DFA U.S. Micro Cap Portfolio	22.77%	9.65%	11.43%	17.93%	-12.49%	33.70%	6.61%	20.68%	-11.60%	10.92%
DFFVX DFA U.S. Targeted Value Portfolio Institutional Class	18.18%	9.53%	9.34%	19.37%	-4.66%	31.53%	3.78%	21.51%	-15.79%	9.20%

Correlation

The correlation between DFSCX and DFFVX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Feb 23, 2000	0.96

The correlation between DFSCX and DFFVX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

DFSCX vs. DFFVX — Risk / Return Rank

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

DFSCX

DFSCX Risk / Return Rank: 81
DFSCX Sharpe Ratio Rank: 75
DFSCX Sortino Ratio Rank: 77
DFSCX Omega Ratio Rank: 67
DFSCX Calmar Ratio Rank: 94
DFSCX Martin Ratio Rank: 90

DFFVX

DFFVX Risk / Return Rank: 60
DFFVX Sharpe Ratio Rank: 53
DFFVX Sortino Ratio Rank: 61
DFFVX Omega Ratio Rank: 52
DFFVX Calmar Ratio Rank: 77
DFFVX Martin Ratio Rank: 59

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.

DFSCX vs. DFFVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA U.S. Micro Cap Portfolio (DFSCX) and DFA U.S. Targeted Value Portfolio Institutional Class (DFFVX). 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.

	DFSCX	DFFVX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.63	+0.31
Sortino ratio: Return per unit of downside risk	2.86	2.45	+0.41
Omega ratio: Gain probability vs. loss probability	1.34	1.29	+0.04
Calmar ratio: Return relative to maximum drawdown	4.15	2.79	+1.36
Martin ratio: Return relative to average drawdown	13.46	9.10	+4.35

DFSCX vs. DFFVX - Sharpe Ratio Comparison

The current DFSCX Sharpe Ratio is 1.94, which is comparable to the DFFVX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of DFSCX and DFFVX, 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

DFSCX vs. DFFVX - Drawdown Comparison

The maximum DFSCX drawdown since its inception was -63.07%, roughly equal to the maximum DFFVX drawdown of -64.21%. Use the drawdown chart below to compare losses from any high point for DFSCX and DFFVX.

Drawdown Indicators

	DFSCX	DFFVX	Difference
Max Drawdown Largest peak-to-trough decline	-63.07%	-64.21%	+1.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.17%	-9.70%	+1.53%
Max Drawdown (3Y) Largest decline over 3 years	-27.01%	-26.09%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-27.01%	-26.09%	-0.92%
Max Drawdown (10Y) Largest decline over 10 years	-46.88%	-50.75%	+3.87%
Current Drawdown Current decline from peak	-1.99%	-0.48%	-1.51%
Average Drawdown Average peak-to-trough decline	-9.88%	-9.67%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	2.97%	-0.45%

Volatility

DFSCX vs. DFFVX - Volatility Comparison

DFA U.S. Micro Cap Portfolio (DFSCX) has a higher volatility of 4.28% compared to DFA U.S. Targeted Value Portfolio Institutional Class (DFFVX) at 3.61%. This indicates that DFSCX's price experiences larger fluctuations and is considered to be riskier than DFFVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFSCX	DFFVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	3.61%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	11.89%	10.88%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.53%	16.69%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.94%	21.37%	-0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.59%	23.55%	-0.96%

DFSCX vs. DFFVX - Expense Ratio Comparison

DFSCX has a 0.41% expense ratio, which is higher than DFFVX's 0.29% expense ratio.

Dividends

DFSCX vs. DFFVX - Dividend Comparison

DFSCX's dividend yield for the trailing twelve months is around 0.86%, less than DFFVX's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFFVX DFA U.S. Targeted Value Portfolio Institutional Class	1.51%	1.69%	1.40%	2.26%	5.17%	2.74%	1.52%	3.82%	5.95%	5.16%	3.95%	5.84%
DFSCX DFA U.S. Micro Cap Portfolio	0.86%	1.03%	0.97%	2.48%	5.16%	10.77%	0.87%	2.80%	5.50%	5.05%	0.90%	6.33%

Frequently Asked Questions

Can I hold both DFSCX and DFFVX in my portfolio?

With a correlation of 0.95, DFSCX and DFFVX 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, DFSCX or DFFVX?

DFSCX has higher volatility (4.28%) compared to DFFVX (3.61%). In terms of maximum drawdown, DFSCX dropped -63.07% vs DFFVX's -64.21%.

Which has better risk-adjusted returns?

DFSCX currently has the higher Sharpe Ratio (1.94 vs 1.63), 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.