DFSI vs. TBLU

Last updated Aug 2, 2026

DFSI (Dimensional International Sustainability Core 1 ETF) and TBLU (Tortoise Global Water Fund) are both exchange-traded funds - DFSI is a Foreign Large Cap Equities fund actively managed by Dimensional, while TBLU is a Water Equities fund tracking the Tortoise Global Water ESG Net Total Return Index. DFSI is actively managed, while TBLU is passively managed. Over the past 3 years, DFSI returned 16.89%/yr vs 9.02%/yr for TBLU. Their 0.74 correlation means they have sometimes moved together and sometimes differently. DFSI charges 0.24%/yr vs 0.40%/yr for TBLU.

Performance

DFSI vs. TBLU - Performance Comparison

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

Returns By Period

In the year-to-date period, DFSI achieves a 8.74% return, which is significantly higher than TBLU's 2.00% return.

DFSI

• 1D: -0.61%
• 1M: 1.21%
• 6M: 4.21%
• YTD: 8.74%
• 1Y: 21.35%
• 3Y*: 16.89%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.12%

TBLU

• 1D: -0.27%
• 1M: -1.11%
• 6M: -3.93%
• YTD: 2.00%
• 1Y: -0.10%
• 3Y*: 9.02%
• 5Y*: 3.59%
• 10Y*: —
• ALL TIME*: 9.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFSI Dimensional International Sustainability Core 1 ETF	$2.37M	$2.51M	$2.73M
TBLU Tortoise Global Water Fund	$60.50K	$60.70K	$110.96K

DFSI vs. TBLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFSI Dimensional International Sustainability Core 1 ETF	8.74%	33.62%	4.98%	17.86%	10.47%
TBLU Tortoise Global Water Fund	2.00%	11.82%	8.54%	20.95%	4.82%

Correlation

The correlation between DFSI and TBLU is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (All Time) Calculated using the full available price history since Nov 2, 2022	0.74

The correlation between DFSI and TBLU has been stable across timeframes, ranging from 0.71 to 0.74 - a consistent structural relationship.

DFSI vs. TBLU - Sectors Allocation Comparison

Sectors	DFSI	TBLU
Financial Services	24.9%	-
Industrials	21.5%	64.2%
Technology	11.3%	0.7%
Consumer Cyclical	9.7%	0.8%
Healthcare	9.0%	-
Basic Materials	6.7%	7.9%
Consumer Defensive	5.3%	1.0%
Communication Services	4.9%	-
Utilities	3.0%	24.6%
Real Estate	1.9%	-
Energy	1.9%	0.6%

Return for Risk

DFSI vs. TBLU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFSI

DFSI Risk / Return Rank: 57
DFSI Sharpe Ratio Rank: 59
DFSI Sortino Ratio Rank: 60
DFSI Omega Ratio Rank: 59
DFSI Calmar Ratio Rank: 49
DFSI Martin Ratio Rank: 56

TBLU

TBLU Risk / Return Rank: 11
TBLU Sharpe Ratio Rank: 11
TBLU Sortino Ratio Rank: 10
TBLU Omega Ratio Rank: 10
TBLU Calmar Ratio Rank: 11
TBLU Martin Ratio Rank: 11

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFSI vs. TBLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Sustainability Core 1 ETF (DFSI) and Tortoise Global Water Fund (TBLU). 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	TBLU	Difference
Sharpe ratio: Return per unit of total volatility	1.40	-0.01	+1.42
Sortino ratio: Return per unit of downside risk	2.04	0.09	+1.96
Omega ratio: Gain probability vs. loss probability	1.26	1.01	+0.25
Calmar ratio: Return relative to maximum drawdown	1.76	-0.02	+1.78
Martin ratio: Return relative to average drawdown	6.56	-0.03	+6.60

DFSI vs. TBLU - Sharpe Ratio Comparison

The current DFSI Sharpe Ratio is 1.40, which is higher than the TBLU Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of DFSI and TBLU, 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. TBLU - Drawdown Comparison

The maximum DFSI drawdown since its inception was -12.82%, smaller than the maximum TBLU drawdown of -37.58%. Use the drawdown chart below to compare losses from any high point for DFSI and TBLU.

Drawdown Indicators

	DFSI	TBLU	Difference
Max Drawdown Largest peak-to-trough decline	-12.82%	-37.58%	+24.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.26%	-13.17%	+0.91%
Max Drawdown (3Y) Largest decline over 3 years	-12.62%	-15.42%	+2.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.36%	—
Current Drawdown Current decline from peak	-0.61%	-8.05%	+7.44%
Average Drawdown Average peak-to-trough decline	-2.59%	-8.16%	+5.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	6.53%	-3.25%

Volatility

DFSI vs. TBLU - Volatility Comparison

The current volatility for Dimensional International Sustainability Core 1 ETF (DFSI) is 4.16%, while Tortoise Global Water Fund (TBLU) has a volatility of 4.54%. This indicates that DFSI experiences smaller price fluctuations and is considered to be less risky than TBLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFSI	TBLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	4.54%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	11.89%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	15.17%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.25%	17.42%	-2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.25%	18.91%	-3.66%

DFSI vs. TBLU - Expense Ratio Comparison

DFSI has a 0.24% expense ratio, which is lower than TBLU's 0.40% expense ratio.

Dividends

DFSI vs. TBLU - Dividend Comparison

DFSI's dividend yield for the trailing twelve months is around 2.18%, less than TBLU's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFSI Dimensional International Sustainability Core 1 ETF	2.18%	2.23%	2.39%	2.10%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%
TBLU Tortoise Global Water Fund	3.47%	3.31%	1.34%	1.46%	1.64%	1.55%	1.42%	1.58%	1.35%	1.32%

Frequently Asked Questions

Can I hold both DFSI and TBLU in my portfolio?

DFSI and TBLU have a correlation of 0.73, 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 TBLU?

TBLU has higher volatility (4.54%) compared to DFSI (4.16%). In terms of maximum drawdown, DFSI dropped -12.82% vs TBLU's -37.58%.

Which ETF is better, DFSI or TBLU?

On 3-year performance, DFSI leads with 16.89% vs 9.02% for TBLU. On fees, DFSI is cheaper at 0.24% per year. On volatility, DFSI has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFSI or TBLU?

Over the 3-year period, DFSI has performed better with a 16.89% return vs 9.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFSI or TBLU?

DFSI is cheaper with a 0.24% expense ratio, compared with 0.40% for TBLU.

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

TBLU has the higher dividend yield at 3.47%, compared with 2.18% for DFSI.

What is the main difference between DFSI and TBLU?

DFSI is categorized as Foreign Large Cap Equities, while TBLU is Water Equities. They also come from different issuers: Dimensional and Tortoise. Their fees differ too: 0.24% for DFSI and 0.40% for TBLU.

Which has better risk-adjusted returns?

DFSI currently has the higher Sharpe Ratio (1.40 vs -0.01), 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.