DFSCX vs. IWM
DFSCX (DFA U.S. Micro Cap Portfolio) and IWM (iShares Russell 2000 ETF) are both Small Cap Blend Equities funds. Over the past 10 years, DFSCX returned 11.53%/yr vs 11.27%/yr for IWM. With a 0.95 correlation, they move nearly in lockstep. DFSCX charges 0.41%/yr vs 0.19%/yr for IWM.
Performance
DFSCX vs. IWM - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with DFSCX having a 19.26% return and IWM slightly lower at 19.22%. Both investments have delivered pretty close results over the past 10 years, with DFSCX having a 11.53% annualized return and IWM not far behind at 11.27%.
DFSCX
- 1D
- 2.35%
- 1M
- 6.42%
- YTD
- 19.26%
- 6M
- 16.19%
- 1Y
- 38.65%
- 3Y*
- 17.49%
- 5Y*
- 9.29%
- 10Y*
- 11.53%
IWM
- 1D
- 0.87%
- 1M
- 2.99%
- YTD
- 19.22%
- 6M
- 16.00%
- 1Y
- 41.75%
- 3Y*
- 17.23%
- 5Y*
- 6.07%
- 10Y*
- 11.27%
DFSCX vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFSCX DFA U.S. Micro Cap Portfolio | 19.26% | 9.65% | 11.43% | 17.93% | -12.49% | 33.70% | 6.61% | 20.68% | -11.60% | 10.92% |
IWM iShares Russell 2000 ETF | 19.22% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Correlation
The correlation between DFSCX and IWM is 0.94, 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 | 0.94 |
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 | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.95 |
The correlation between DFSCX and IWM has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
DFSCX vs. IWM — Risk / Return Rank
DFSCX
IWM
DFSCX vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA U.S. Micro Cap Portfolio (DFSCX) and iShares Russell 2000 ETF (IWM). 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 | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.33 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.37 | 3.57 | +0.80 |
| Martin ratioReturn relative to average drawdown | 14.12 | 12.63 | +1.49 |
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Drawdowns
DFSCX vs. IWM - Drawdown Comparison
The maximum DFSCX drawdown since its inception was -63.07%, which is greater than IWM's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for DFSCX and IWM.
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Drawdown Indicators
| DFSCX | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.07% | -59.05% | -4.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.17% | -11.03% | +2.86% |
Max Drawdown (3Y)Largest decline over 3 years | -27.01% | -27.50% | +0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -27.01% | -31.91% | +4.90% |
Max Drawdown (10Y)Largest decline over 10 years | -46.88% | -41.13% | -5.75% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.90% | -10.76% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 3.12% | -0.59% |
Volatility
DFSCX vs. IWM - Volatility Comparison
The current volatility for DFA U.S. Micro Cap Portfolio (DFSCX) is 5.02%, while iShares Russell 2000 ETF (IWM) has a volatility of 7.16%. This indicates that DFSCX experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFSCX | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 7.16% | -2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 11.99% | 14.29% | -2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.79% | 19.73% | -1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.05% | 22.61% | -1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.65% | 23.08% | -0.43% |
DFSCX vs. IWM - Expense Ratio Comparison
DFSCX has a 0.41% expense ratio, which is higher than IWM's 0.19% expense ratio.
Dividends
DFSCX vs. IWM - Dividend Comparison
DFSCX's dividend yield for the trailing twelve months is around 0.80%, less than IWM's 0.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFSCX DFA U.S. Micro Cap Portfolio | 0.80% | 1.03% | 0.97% | 2.48% | 5.16% | 10.77% | 0.87% | 2.80% | 5.50% | 5.05% | 0.90% | 6.33% |
IWM iShares Russell 2000 ETF | 0.87% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Frequently Asked Questions
With a correlation of 0.94, DFSCX and IWM 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.
IWM has higher volatility (7.16%) compared to DFSCX (5.02%). In terms of maximum drawdown, DFSCX dropped -63.07% vs IWM's -59.05%.
DFSCX currently has the higher Sharpe Ratio (2.01 vs 1.99), 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.
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