DFSI vs. DFAI

Last updated Jun 4, 2026

DFSI (Dimensional International Sustainability Core 1 ETF) and DFAI (Dimensional International Core Equity Market ETF) are both exchange-traded funds - DFSI is a Foreign Large Cap Equities fund actively managed by Dimensional, while DFAI is a Global Equities fund actively managed by Dimensional. Both are actively managed. Over the past 3 years, DFSI returned 16.80%/yr vs 18.12%/yr for DFAI. With a 0.97 correlation, they move nearly in lockstep. DFSI charges 0.24%/yr vs 0.18%/yr for DFAI.

Performance

DFSI vs. DFAI - Performance Comparison

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

Returns By Period

In the year-to-date period, DFSI achieves a 5.54% return, which is significantly lower than DFAI's 9.16% return.

DFSI

• 1D: -0.92%
• 1M: 2.26%
• YTD: 5.54%
• 6M: 8.46%
• 1Y: 19.10%
• 3Y*: 16.80%
• 5Y*: —
• 10Y*: —

DFAI

• 1D: -0.84%
• 1M: 2.67%
• YTD: 9.16%
• 6M: 11.79%
• 1Y: 24.65%
• 3Y*: 18.12%
• 5Y*: 9.36%
• 10Y*: —

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

DFSI vs. DFAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFSI Dimensional International Sustainability Core 1 ETF	5.54%	33.62%	4.98%	17.86%	11.99%
DFAI Dimensional International Core Equity Market ETF	9.16%	34.04%	4.68%	17.60%	10.95%

Correlation

The correlation between DFSI and DFAI 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	0.97
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.97

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

DFSI vs. DFAI - Sectors Allocation Comparison

Sectors	DFSI	DFAI
Industrials	27.9%	19.5%
Financial Services	27.7%	22.5%
Consumer Cyclical	14.2%	8.6%
Consumer Defensive	8.1%	6.4%
Basic Materials	7.4%	8.8%
Healthcare	3.7%	8.8%
Real Estate	3.4%	1.5%
Technology	3.0%	9.3%
Communication Services	1.8%	3.7%
Utilities	1.7%	4.0%
Energy	1.3%	6.8%

Return for Risk

DFSI vs. DFAI — Risk / Return Rank

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

DFSI

DFSI Risk / Return Rank: 35
DFSI Sharpe Ratio Rank: 36
DFSI Sortino Ratio Rank: 35
DFSI Omega Ratio Rank: 36
DFSI Calmar Ratio Rank: 32
DFSI Martin Ratio Rank: 38

DFAI

DFAI Risk / Return Rank: 49
DFAI Sharpe Ratio Rank: 50
DFAI Sortino Ratio Rank: 50
DFAI Omega Ratio Rank: 50
DFAI Calmar Ratio Rank: 45
DFAI Martin Ratio Rank: 52

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.

DFSI vs. DFAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Sustainability Core 1 ETF (DFSI) and Dimensional International Core Equity Market ETF (DFAI). 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.

	DFSI	DFAI	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.76	-0.48
Sortino ratio: Return per unit of downside risk	1.88	2.49	-0.60
Omega ratio: Gain probability vs. loss probability	1.24	1.32	-0.08
Calmar ratio: Return relative to maximum drawdown	1.57	2.26	-0.70
Martin ratio: Return relative to average drawdown	5.94	8.87	-2.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFSI vs. DFAI - Sharpe Ratio Comparison

The current DFSI Sharpe Ratio is 1.28, which is comparable to the DFAI Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of DFSI and DFAI, 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

	DFSI	DFAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	1.76	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.36	0.78	+0.58

Drawdowns

DFSI vs. DFAI - Drawdown Comparison

The maximum DFSI drawdown since its inception was -12.82%, smaller than the maximum DFAI drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for DFSI and DFAI.

Drawdown Indicators

	DFSI	DFAI	Difference
Max Drawdown Largest peak-to-trough decline	-12.82%	-27.44%	+14.62%
Max Drawdown (1Y) Largest decline over 1 year	-12.26%	-10.95%	-1.31%
Max Drawdown (3Y) Largest decline over 3 years	-12.82%	-13.25%	+0.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.44%	—
Current Drawdown Current decline from peak	-3.15%	-1.61%	-1.54%
Average Drawdown Average peak-to-trough decline	-2.62%	-5.12%	+2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	2.79%	+0.43%

Volatility

DFSI vs. DFAI - Volatility Comparison

Dimensional International Sustainability Core 1 ETF (DFSI) and Dimensional International Core Equity Market ETF (DFAI) have volatilities of 4.63% and 4.45%, 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

	DFSI	DFAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	4.45%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	12.67%	11.68%	+0.99%
Volatility (1Y) Calculated over the trailing 1-year period	14.97%	14.08%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.24%	15.92%	-0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.24%	15.70%	-0.46%

DFSI vs. DFAI - Expense Ratio Comparison

DFSI has a 0.24% expense ratio, which is higher than DFAI's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFSI vs. DFAI - Dividend Comparison

DFSI's dividend yield for the trailing twelve months is around 2.14%, less than DFAI's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	2.26%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%
DFSI Dimensional International Sustainability Core 1 ETF	2.14%	2.23%	2.39%	2.10%	0.18%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFSI and DFAI in my portfolio?

With a correlation of 0.97, DFSI and DFAI 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, DFSI or DFAI?

DFSI has higher volatility (4.63%) compared to DFAI (4.45%). In terms of maximum drawdown, DFSI dropped -12.82% vs DFAI's -27.44%.

Which ETF is better, DFSI or DFAI?

On 3-year performance, DFAI leads with 18.12% vs 16.80% for DFSI. On fees, DFAI is cheaper at 0.18% per year. On volatility, DFAI has been the lower-risk option at 4.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFSI or DFAI?

Over the 3-year period, DFAI has performed better with a 18.12% return vs 16.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFSI or DFAI?

DFAI is cheaper with a 0.18% expense ratio, compared with 0.24% for DFSI.

Which ETF pays a higher dividend yield, DFSI or DFAI?

DFAI has the higher dividend yield at 2.26%, compared with 2.14% for DFSI.

What is the main difference between DFSI and DFAI?

DFSI is categorized as Foreign Large Cap Equities, while DFAI is Global Equities. Their fees differ too: 0.24% for DFSI and 0.18% for DFAI.

Which has better risk-adjusted returns?

DFAI currently has the higher Sharpe Ratio (1.76 vs 1.28), 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.