DFSE vs. DFAU

Last updated Jun 5, 2026

DFSE (Dimensional Emerging Markets Sustainability Core 1 ETF) and DFAU (Dimensional US Core Equity Market ETF) are both exchange-traded funds - DFSE is a Emerging Markets Diversified fund actively managed by Dimensional, while DFAU is a Large Cap Blend Equities fund actively managed by Dimensional. Both are actively managed. Over the past 3 years, DFSE returned 20.89%/yr vs 22.04%/yr for DFAU. A 0.65 correlation means they provide meaningful diversification when combined. DFSE charges 0.41%/yr vs 0.12%/yr for DFAU.

Performance

DFSE vs. DFAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Markets Sustainability Core 1 ETF (DFSE) and Dimensional US Core Equity Market ETF (DFAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFSE achieves a 20.50% return, which is significantly higher than DFAU's 11.85% return.

DFSE

• 1D: -0.43%
• 1M: 3.57%
• YTD: 20.50%
• 6M: 22.31%
• 1Y: 39.77%
• 3Y*: 20.89%
• 5Y*: —
• 10Y*: —

DFAU

• 1D: 0.48%
• 1M: 4.50%
• YTD: 11.85%
• 6M: 11.66%
• 1Y: 29.14%
• 3Y*: 22.04%
• 5Y*: 13.16%
• 10Y*: —

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

DFSE vs. DFAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF	20.50%	28.22%	6.90%	14.66%	11.62%
DFAU Dimensional US Core Equity Market ETF	11.85%	16.78%	23.17%	24.79%	2.12%

Correlation

The correlation between DFSE and DFAU is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.65

The correlation between DFSE and DFAU has been stable across timeframes, ranging from 0.65 to 0.75 - a consistent structural relationship.

DFSE vs. DFAU - Sectors Allocation Comparison

Sectors	DFSE	DFAU
Technology	31.2%	32.7%
Financial Services	13.9%	12.8%
Industrials	12.5%	10.4%
Consumer Cyclical	10.6%	10.8%
Basic Materials	6.2%	2.4%
Communication Services	5.8%	10.4%
Healthcare	4.7%	8.5%
Consumer Defensive	3.9%	4.8%
Real Estate	2.2%	0.2%
Utilities	1.8%	2.5%
Energy	1.0%	4.6%

Return for Risk

DFSE vs. DFAU — Risk / Return Rank

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

DFSE

DFSE Risk / Return Rank: 65
DFSE Sharpe Ratio Rank: 66
DFSE Sortino Ratio Rank: 62
DFSE Omega Ratio Rank: 67
DFSE Calmar Ratio Rank: 63
DFSE Martin Ratio Rank: 64

DFAU

DFAU Risk / Return Rank: 75
DFAU Sharpe Ratio Rank: 76
DFAU Sortino Ratio Rank: 75
DFAU Omega Ratio Rank: 74
DFAU Calmar Ratio Rank: 69
DFAU Martin Ratio Rank: 80

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.

DFSE vs. DFAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets Sustainability Core 1 ETF (DFSE) and Dimensional US Core Equity Market ETF (DFAU). 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.

	DFSE	DFAU	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.43	-0.29
Sortino ratio: Return per unit of downside risk	2.88	3.31	-0.43
Omega ratio: Gain probability vs. loss probability	1.40	1.44	-0.04
Calmar ratio: Return relative to maximum drawdown	3.10	3.38	-0.27
Martin ratio: Return relative to average drawdown	11.56	15.44	-3.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFSE vs. DFAU - Sharpe Ratio Comparison

The current DFSE Sharpe Ratio is 2.14, which is comparable to the DFAU Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of DFSE and DFAU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFSE	DFAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.43	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.95	+0.38

Drawdowns

DFSE vs. DFAU - Drawdown Comparison

The maximum DFSE drawdown since its inception was -19.77%, smaller than the maximum DFAU drawdown of -23.61%. Use the drawdown chart below to compare losses from any high point for DFSE and DFAU.

Drawdown Indicators

	DFSE	DFAU	Difference
Max Drawdown Largest peak-to-trough decline	-19.77%	-23.61%	+3.84%
Max Drawdown (1Y) Largest decline over 1 year	-12.88%	-8.67%	-4.21%
Max Drawdown (3Y) Largest decline over 3 years	-19.77%	-19.36%	-0.41%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.61%	—
Current Drawdown Current decline from peak	-2.08%	-0.19%	-1.89%
Average Drawdown Average peak-to-trough decline	-3.99%	-4.98%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	1.89%	+1.56%

Volatility

DFSE vs. DFAU - Volatility Comparison

Dimensional Emerging Markets Sustainability Core 1 ETF (DFSE) has a higher volatility of 7.80% compared to Dimensional US Core Equity Market ETF (DFAU) at 2.88%. This indicates that DFSE's price experiences larger fluctuations and is considered to be riskier than DFAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFSE	DFAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.80%	2.88%	+4.92%
Volatility (6M) Calculated over the trailing 6-month period	16.14%	9.05%	+7.09%
Volatility (1Y) Calculated over the trailing 1-year period	18.72%	12.05%	+6.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	17.02%	+0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.63%	16.73%	+0.90%

DFSE vs. DFAU - Expense Ratio Comparison

DFSE has a 0.41% expense ratio, which is higher than DFAU's 0.12% expense ratio.

Dividends

DFSE vs. DFAU - Dividend Comparison

DFSE's dividend yield for the trailing twelve months is around 1.85%, more than DFAU's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAU Dimensional US Core Equity Market ETF	0.89%	0.95%	1.10%	1.29%	1.40%	1.00%	0.13%
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF	1.85%	2.26%	2.06%	2.06%	0.36%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFSE and DFAU in my portfolio?

DFSE and DFAU have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFSE or DFAU?

DFSE has higher volatility (7.80%) compared to DFAU (2.88%). In terms of maximum drawdown, DFSE dropped -19.77% vs DFAU's -23.61%.

Which ETF is better, DFSE or DFAU?

On 3-year performance, DFAU leads with 22.04% vs 20.89% for DFSE. On fees, DFAU is cheaper at 0.12% per year. On volatility, DFAU has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFSE or DFAU?

Over the 3-year period, DFAU has performed better with a 22.04% return vs 20.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFSE or DFAU?

DFAU is cheaper with a 0.12% expense ratio, compared with 0.41% for DFSE.

Which ETF pays a higher dividend yield, DFSE or DFAU?

DFSE has the higher dividend yield at 1.85%, compared with 0.89% for DFAU.

What is the main difference between DFSE and DFAU?

DFSE is categorized as Emerging Markets Diversified, while DFAU is Large Cap Blend Equities. Their fees differ too: 0.41% for DFSE and 0.12% for DFAU.

Which has better risk-adjusted returns?

DFAU currently has the higher Sharpe Ratio (2.43 vs 2.14), 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.