DFTEX vs. SPIB
Compare and contrast key facts about DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) and SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB).
DFTEX is managed by Dimensional Fund Advisors LP. It was launched on Jul 20, 2010. SPIB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate. It was launched on Feb 10, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DFTEX or SPIB.
Key characteristics
| DFTEX | SPIB | |
|---|---|---|
| YTD Return | 3.99% | 4.60% |
| 1Y Return | 12.15% | 10.28% |
| 3Y Return (Ann) | -1.87% | 0.25% |
| 5Y Return (Ann) | 0.88% | 1.76% |
| 10Y Return (Ann) | 2.54% | 2.58% |
| Sharpe Ratio | 1.92 | 2.47 |
| Sortino Ratio | 2.88 | 3.84 |
| Omega Ratio | 1.35 | 1.48 |
| Calmar Ratio | 0.68 | 1.03 |
| Martin Ratio | 8.15 | 13.21 |
| Ulcer Index | 1.40% | 0.74% |
| Daily Std Dev | 5.95% | 3.95% |
| Max Drawdown | -22.83% | -14.94% |
| Current Drawdown | -6.63% | -1.36% |
Correlation
The correlation between DFTEX and SPIB is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
DFTEX vs. SPIB - Performance Comparison
In the year-to-date period, DFTEX achieves a 3.99% return, which is significantly lower than SPIB's 4.60% return. Both investments have delivered pretty close results over the past 10 years, with DFTEX having a 2.54% annualized return and SPIB not far ahead at 2.58%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DFTEX vs. SPIB - Expense Ratio Comparison
DFTEX has a 0.20% expense ratio, which is higher than SPIB's 0.07% 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%.
Risk-Adjusted Performance
DFTEX vs. SPIB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) and SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB). 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.
Dividends
DFTEX vs. SPIB - Dividend Comparison
DFTEX's dividend yield for the trailing twelve months is around 4.03%, less than SPIB's 4.36% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFTEX DFA Intermediate-Term Extended Quality Portfolio Fund | 4.03% | 3.80% | 3.27% | 2.42% | 2.59% | 3.05% | 3.26% | 2.95% | 3.01% | 3.42% | 3.06% | 2.84% |
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 4.36% | 3.83% | 2.65% | 1.58% | 2.18% | 3.04% | 3.04% | 2.79% | 2.69% | 2.70% | 2.65% | 3.03% |
Drawdowns
DFTEX vs. SPIB - Drawdown Comparison
The maximum DFTEX drawdown since its inception was -22.83%, which is greater than SPIB's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for DFTEX and SPIB. For additional features, visit the drawdowns tool.
Volatility
DFTEX vs. SPIB - Volatility Comparison
DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) has a higher volatility of 1.82% compared to SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) at 1.11%. This indicates that DFTEX's price experiences larger fluctuations and is considered to be riskier than SPIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.