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DFSVX vs. EEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DFSVX vs. EEM

Last updated Jun 13, 2026

DFSVX (DFA U.S. Small Cap Value Portfolio I) and EEM (iShares MSCI Emerging Markets ETF) are both funds - DFSVX is a Small Cap Value Equities fund actively managed by Dimensional, while EEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index (Net). DFSVX is actively managed, while EEM is passively managed. Over the past 10 years, DFSVX returned 11.75%/yr vs 9.91%/yr for EEM. A 0.67 correlation means they provide meaningful diversification when combined. DFSVX charges 0.30%/yr vs 0.72%/yr for EEM.

Performance

DFSVX vs. EEM - 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 iShares MSCI Emerging Markets ETF (EEM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DFSVX achieves a 17.78% return, which is significantly lower than EEM's 24.07% return. Over the past 10 years, DFSVX has outperformed EEM with an annualized return of 11.75%, while EEM has yielded a comparatively lower 9.91% annualized return.

DFSVX

1D
1.63%
1M
5.78%
YTD
17.78%
6M
15.07%
1Y
36.45%
3Y*
17.62%
5Y*
10.49%
10Y*
11.75%

EEM

1D
0.56%
1M
0.74%
YTD
24.07%
6M
26.94%
1Y
47.57%
3Y*
21.60%
5Y*
6.56%
10Y*
9.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DFSVX vs. EEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DFSVX
DFA U.S. Small Cap Value Portfolio I		17.78%8.37%9.58%19.02%-3.57%39.97%2.24%18.15%-15.13%6.82%
EEM
iShares MSCI Emerging Markets ETF		24.07%33.98%6.49%8.95%-20.56%-3.63%17.02%18.22%-15.31%37.26%

Correlation

The correlation between DFSVX and EEM is 0.52, 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

0.52

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.56

Correlation (10Y)
Calculated over the trailing 10-year period

0.56

Correlation (All Time)
Calculated using the full available price history since Apr 14, 2003

0.67

The correlation between DFSVX and EEM shifts across timeframes, from 0.52 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

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DFA U.S. Small Cap Value Portfolio I

iShares MSCI Emerging Markets ETF

Often compared with DFSVX:
DFSVX vs. AVUVDFSVX vs. DFSVDFSVX vs. DFFVXDFSVX vs. VOODFSVX vs. FISVXDFSVX vs. DFSCXDFSVX vs. FSMAX
Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. IS3N.DEEEM vs. VXUSEEM vs. EEMSEEM vs. SPEM

Return for Risk

DFSVX vs. EEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DFSVX
DFSVX Risk / Return Rank: 7575
Overall Rank
DFSVX Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
DFSVX Sortino Ratio Rank: 7373
Sortino Ratio Rank
DFSVX Omega Ratio Rank: 6565
Omega Ratio Rank
DFSVX Calmar Ratio Rank: 8888
Calmar Ratio Rank
DFSVX Martin Ratio Rank: 7878
Martin Ratio Rank
EEM
EEM Risk / Return Rank: 7575
Overall Rank
EEM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 7070
Sortino Ratio Rank
EEM Omega Ratio Rank: 7878
Omega Ratio Rank
EEM Calmar Ratio Rank: 7575
Calmar Ratio Rank
EEM Martin Ratio Rank: 7575
Martin Ratio Rank
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. EEM - 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 iShares MSCI Emerging Markets ETF (EEM). 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.

DFSVXEEMDifference
Sharpe ratioReturn per unit of total volatility
1.96
2.10

-0.14

Sortino ratioReturn per unit of downside risk
2.85
2.73

+0.12

Omega ratioGain probability vs. loss probability

1.35

1.40

-0.05

Calmar ratioReturn relative to maximum drawdown

3.58

3.36

+0.21

Martin ratioReturn relative to average drawdown

11.45

12.38

-0.94

DFSVX vs. EEM - Sharpe Ratio Comparison

The current DFSVX Sharpe Ratio is 1.96, which is comparable to the EEM Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of DFSVX and EEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DFSVX vs. EEM - Drawdown Comparison

The maximum DFSVX drawdown since its inception was -66.70%, roughly equal to the maximum EEM drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for DFSVX and EEM.

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Drawdown Indicators

DFSVXEEMDifference

Max Drawdown

Largest peak-to-trough decline

-66.70%

-66.43%

-0.27%

Max Drawdown (1Y)

Largest decline over 1 year

-9.59%

-13.52%

+3.93%

Max Drawdown (3Y)

Largest decline over 3 years

-27.69%

-17.29%

-10.40%

Max Drawdown (5Y)

Largest decline over 5 years

-27.69%

-37.49%

+9.80%

Max Drawdown (10Y)

Largest decline over 10 years

-52.12%

-39.82%

-12.30%

Current Drawdown

Current decline from peak

0.00%

-4.12%

+4.12%

Average Drawdown

Average peak-to-trough decline

-9.46%

-16.00%

+6.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.99%

3.67%

-0.68%

Volatility

DFSVX vs. EEM - Volatility Comparison

The current volatility for DFA U.S. Small Cap Value Portfolio I (DFSVX) is 4.27%, while iShares MSCI Emerging Markets ETF (EEM) has a volatility of 10.80%. This indicates that DFSVX experiences smaller price fluctuations and is considered to be less risky than EEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DFSVXEEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.27%

10.80%

-6.53%

Volatility (6M)

Calculated over the trailing 6-month period

11.51%

19.39%

-7.88%

Volatility (1Y)

Calculated over the trailing 1-year period

17.53%

21.64%

-4.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.50%

19.26%

+2.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.89%

20.64%

+3.25%

DFSVX vs. EEM - Expense Ratio Comparison

DFSVX has a 0.30% expense ratio, which is lower than EEM's 0.72% expense ratio.

Dividends

DFSVX vs. EEM - Dividend Comparison

DFSVX's dividend yield for the trailing twelve months is around 1.48%, less than EEM's 1.79% yield.

PositionTTM20252024202320222021202020192018201720162015
DFSVX
DFA U.S. Small Cap Value Portfolio I		1.48%1.69%1.47%3.67%6.77%10.40%1.96%2.83%7.54%5.18%4.18%5.29%
EEM
iShares MSCI Emerging Markets ETF		1.79%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%

Frequently Asked Questions

DFSVX and EEM have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EEM has higher volatility (10.80%) compared to DFSVX (4.27%). In terms of maximum drawdown, DFSVX dropped -66.70% vs EEM's -66.43%.

EEM currently has the higher Sharpe Ratio (2.10 vs 1.96), 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.

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