DFSI vs. DFAW

Last updated Jun 25, 2026

DFSI (Dimensional International Sustainability Core 1 ETF) and DFAW (Dimensional World Equity ETF) are both exchange-traded funds - DFSI is a Foreign Large Cap Equities fund actively managed by Dimensional, while DFAW is a Global Equities fund actively managed by Dimensional. Both are actively managed. Over the past year, DFSI returned 17.87% vs 26.04% for DFAW. Their correlation of 0.83 suggests significant overlap in exposure. DFSI charges 0.24%/yr vs 0.25%/yr for DFAW.

Performance

DFSI vs. DFAW - Performance Comparison

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

Returns By Period

In the year-to-date period, DFSI achieves a 5.38% return, which is significantly lower than DFAW's 11.28% return.

DFSI

• 1D: -0.17%
• 1M: -0.56%
• YTD: 5.38%
• 6M: 4.73%
• 1Y: 17.87%
• 3Y*: 17.13%
• 5Y*: —
• 10Y*: —

DFAW

• 1D: 0.04%
• 1M: 0.15%
• YTD: 11.28%
• 6M: 10.15%
• 1Y: 26.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFSI vs. DFAW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFSI Dimensional International Sustainability Core 1 ETF	5.38%	33.62%	4.98%	12.62%
DFAW Dimensional World Equity ETF	11.28%	20.62%	15.49%	11.44%

Correlation

The correlation between DFSI and DFAW is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Sep 27, 2023	0.83

The correlation between DFSI and DFAW has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

DFSI vs. DFAW - Sectors Allocation Comparison

Sectors	DFSI	DFAW
Financial Services	24.2%	14.8%
Industrials	21.7%	13.4%
Technology	10.5%	27.0%
Consumer Cyclical	9.8%	10.1%
Healthcare	9.0%	8.0%
Basic Materials	7.4%	5.0%
Consumer Defensive	5.2%	4.8%
Communication Services	5.2%	7.0%
Utilities	3.1%	2.2%
Energy	1.9%	5.5%
Real Estate	1.9%	2.3%

Return for Risk

DFSI vs. DFAW — Risk / Return Rank

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

DFSI

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

DFAW

DFAW Risk / Return Rank: 71
DFAW Sharpe Ratio Rank: 72
DFAW Sortino Ratio Rank: 70
DFAW Omega Ratio Rank: 71
DFAW Calmar Ratio Rank: 66
DFAW 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.

DFSI vs. DFAW - Risk-Adjusted Trends Comparison

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

	DFSI	DFAW	Difference
Sharpe ratio: Return per unit of total volatility	1.17	2.06	-0.89
Sortino ratio: Return per unit of downside risk	1.74	2.84	-1.10
Omega ratio: Gain probability vs. loss probability	1.22	1.38	-0.16
Calmar ratio: Return relative to maximum drawdown	1.46	2.94	-1.48
Martin ratio: Return relative to average drawdown	5.45	12.78	-7.33

DFSI vs. DFAW - Sharpe Ratio Comparison

The current DFSI Sharpe Ratio is 1.17, which is lower than the DFAW Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of DFSI and DFAW, 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

DFSI vs. DFAW - Drawdown Comparison

The maximum DFSI drawdown since its inception was -12.82%, smaller than the maximum DFAW drawdown of -16.93%. Use the drawdown chart below to compare losses from any high point for DFSI and DFAW.

Drawdown Indicators

	DFSI	DFAW	Difference
Max Drawdown Largest peak-to-trough decline	-12.82%	-16.93%	+4.11%
Max Drawdown (1Y) Largest decline over 1 year	-12.26%	-8.88%	-3.38%
Max Drawdown (3Y) Largest decline over 3 years	-12.82%	—	—
Current Drawdown Current decline from peak	-3.30%	-1.99%	-1.31%
Average Drawdown Average peak-to-trough decline	-2.62%	-1.70%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	2.04%	+1.25%

Volatility

DFSI vs. DFAW - Volatility Comparison

The current volatility for Dimensional International Sustainability Core 1 ETF (DFSI) is 4.76%, while Dimensional World Equity ETF (DFAW) has a volatility of 5.04%. This indicates that DFSI experiences smaller price fluctuations and is considered to be less risky than DFAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFSI	DFAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	5.04%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	13.22%	10.35%	+2.87%
Volatility (1Y) Calculated over the trailing 1-year period	15.36%	12.73%	+2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	14.58%	+0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.31%	14.58%	+0.73%

DFSI vs. DFAW - Expense Ratio Comparison

DFSI has a 0.24% expense ratio, which is lower than DFAW's 0.25% expense ratio. Despite the difference, 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. DFAW - Dividend Comparison

DFSI's dividend yield for the trailing twelve months is around 2.25%, more than DFAW's 1.59% yield.

Position	TTM	2025	2024	2023	2022
DFAW Dimensional World Equity ETF	1.59%	1.71%	1.47%	0.42%	0.00%
DFSI Dimensional International Sustainability Core 1 ETF	2.25%	2.23%	2.39%	2.10%	0.18%

Frequently Asked Questions

Can I hold both DFSI and DFAW in my portfolio?

DFSI and DFAW have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFSI or DFAW?

DFAW has higher volatility (5.04%) compared to DFSI (4.76%). In terms of maximum drawdown, DFSI dropped -12.82% vs DFAW's -16.93%.

Which ETF is better, DFSI or DFAW?

On 1-year performance, DFAW leads with 26.04% vs 17.87% for DFSI. On fees, DFSI is cheaper at 0.24% per year. On volatility, DFSI has been the lower-risk option at 4.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFSI or DFAW?

Over the 1-year period, DFAW has performed better with a 26.04% return vs 17.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFSI or DFAW?

DFSI is cheaper with a 0.24% expense ratio, compared with 0.25% for DFAW.

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

DFSI has the higher dividend yield at 2.25%, compared with 1.59% for DFAW.

What is the main difference between DFSI and DFAW?

DFSI is categorized as Foreign Large Cap Equities, while DFAW is Global Equities. Their fees differ too: 0.24% for DFSI and 0.25% for DFAW.

Which has better risk-adjusted returns?

DFAW currently has the higher Sharpe Ratio (2.06 vs 1.17), 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.