DFSVX vs. DFSV

Last updated Jun 23, 2026

DFSVX (DFA U.S. Small Cap Value Portfolio I) and DFSV (Dimensional US Small Cap Value ETF) are both Small Cap Value Equities funds from Dimensional. Both are actively managed. Over the past 3 years, DFSVX returned 17.09%/yr vs 17.37%/yr for DFSV. With a 0.99 correlation, they move nearly in lockstep. DFSVX charges 0.30%/yr vs 0.31%/yr for DFSV.

Performance

DFSVX vs. DFSV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA U.S. Small Cap Value Portfolio I (DFSVX) and Dimensional US Small Cap Value ETF (DFSV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DFSVX having a 16.57% return and DFSV slightly higher at 16.63%.

DFSVX

• 1D: 0.96%
• 1M: 1.92%
• YTD: 16.57%
• 6M: 14.47%
• 1Y: 34.34%
• 3Y*: 17.09%
• 5Y*: 11.72%
• 10Y*: 11.55%

DFSV

• 1D: 0.24%
• 1M: 2.16%
• YTD: 16.63%
• 6M: 14.57%
• 1Y: 34.93%
• 3Y*: 17.37%
• 5Y*: —
• 10Y*: —

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

DFSVX vs. DFSV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFSVX DFA U.S. Small Cap Value Portfolio I	16.57%	8.37%	9.58%	19.02%	0.82%
DFSV Dimensional US Small Cap Value ETF	16.63%	8.59%	7.13%	19.26%	2.68%

Correlation

The correlation between DFSVX and DFSV is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (All Time) Calculated using the full available price history since Feb 24, 2022	0.99

The correlation between DFSVX and DFSV has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

DFSVX vs. DFSV — Risk / Return Rank

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

DFSVX

DFSVX Risk / Return Rank: 61
DFSVX Sharpe Ratio Rank: 53
DFSVX Sortino Ratio Rank: 56
DFSVX Omega Ratio Rank: 48
DFSVX Calmar Ratio Rank: 82
DFSVX Martin Ratio Rank: 62

DFSV

DFSV Risk / Return Rank: 66
DFSV Sharpe Ratio Rank: 62
DFSV Sortino Ratio Rank: 65
DFSV Omega Ratio Rank: 59
DFSV Calmar Ratio Rank: 76
DFSV Martin Ratio Rank: 67

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.

DFSVX vs. DFSV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA U.S. Small Cap Value Portfolio I (DFSVX) and Dimensional US Small Cap Value ETF (DFSV). 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.

	DFSVX	DFSV	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.99	-0.01
Sortino ratio: Return per unit of downside risk	2.88	2.89	-0.01
Omega ratio: Gain probability vs. loss probability	1.35	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	3.62	3.74	-0.11
Martin ratio: Return relative to average drawdown	11.58	11.89	-0.31

DFSVX vs. DFSV - Sharpe Ratio Comparison

The current DFSVX Sharpe Ratio is 1.98, which is comparable to the DFSV Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of DFSVX and DFSV, 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

DFSVX vs. DFSV - Drawdown Comparison

The maximum DFSVX drawdown since its inception was -66.70%, which is greater than DFSV's maximum drawdown of -28.02%. Use the drawdown chart below to compare losses from any high point for DFSVX and DFSV.

Drawdown Indicators

	DFSVX	DFSV	Difference
Max Drawdown Largest peak-to-trough decline	-66.70%	-28.02%	-38.68%
Max Drawdown (1Y) Largest decline over 1 year	-9.59%	-9.39%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-27.69%	-28.02%	+0.33%
Max Drawdown (5Y) Largest decline over 5 years	-27.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.12%	—	—
Current Drawdown Current decline from peak	-2.07%	-1.95%	-0.12%
Average Drawdown Average peak-to-trough decline	-9.46%	-6.64%	-2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.94%	+0.05%

Volatility

DFSVX vs. DFSV - Volatility Comparison

DFA U.S. Small Cap Value Portfolio I (DFSVX) has a higher volatility of 4.47% compared to Dimensional US Small Cap Value ETF (DFSV) at 4.04%. This indicates that DFSVX's price experiences larger fluctuations and is considered to be riskier than DFSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFSVX	DFSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	4.04%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	11.27%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	17.55%	17.63%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.44%	22.20%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.90%	22.20%	+1.70%

DFSVX vs. DFSV - Expense Ratio Comparison

DFSVX has a 0.30% expense ratio, which is lower than DFSV's 0.31% expense ratio.

Dividends

DFSVX vs. DFSV - Dividend Comparison

DFSVX's dividend yield for the trailing twelve months is around 1.49%, more than DFSV's 1.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFSV Dimensional US Small Cap Value ETF	1.40%	1.53%	1.31%	1.29%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFSVX DFA U.S. Small Cap Value Portfolio I	1.49%	1.69%	1.47%	3.67%	6.77%	10.40%	1.96%	2.83%	7.54%	5.18%	4.18%	5.29%

Frequently Asked Questions

Can I hold both DFSVX and DFSV in my portfolio?

With a correlation of 1.00, DFSVX and DFSV 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, DFSVX or DFSV?

DFSVX has higher volatility (4.47%) compared to DFSV (4.04%). In terms of maximum drawdown, DFSVX dropped -66.70% vs DFSV's -28.02%.

Which has better risk-adjusted returns?

DFSV currently has the higher Sharpe Ratio (1.99 vs 1.98), 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.