DFUS vs. DFAT

Last updated Jun 23, 2026

DFUS (Dimensional U.S. Equity Market ETF) and DFAT (Dimensional U.S. Targeted Value ETF) are both exchange-traded funds - DFUS is a Large Cap Blend Equities fund actively managed by Dimensional, while DFAT is a Small Cap Value Equities fund actively managed by Dimensional. Both are actively managed. Over the past 5 years, DFUS returned 13.25%/yr vs 10.54%/yr for DFAT. A 0.78 correlation means they provide meaningful diversification when combined. DFUS charges 0.09%/yr vs 0.28%/yr for DFAT.

Performance

DFUS vs. DFAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional U.S. Equity Market ETF (DFUS) and Dimensional U.S. Targeted Value ETF (DFAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFUS achieves a 10.45% return, which is significantly lower than DFAT's 15.54% return.

DFUS

• 1D: -0.30%
• 1M: 0.75%
• YTD: 10.45%
• 6M: 9.76%
• 1Y: 27.69%
• 3Y*: 21.49%
• 5Y*: 13.25%
• 10Y*: —

DFAT

• 1D: 0.12%
• 1M: 2.40%
• YTD: 15.54%
• 6M: 13.44%
• 1Y: 32.06%
• 3Y*: 17.14%
• 5Y*: 10.54%
• 10Y*: —

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

DFUS vs. DFAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFUS Dimensional U.S. Equity Market ETF	10.45%	17.46%	24.34%	26.36%	-18.34%	12.07%
DFAT Dimensional U.S. Targeted Value ETF	15.54%	8.73%	7.80%	20.86%	-6.23%	3.66%

Correlation

The correlation between DFUS and DFAT is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.78

The correlation between DFUS and DFAT shifts across timeframes, from 0.66 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

DFUS vs. DFAT - Sectors Allocation Comparison

Sectors	DFUS	DFAT
Technology	37.7%	9.4%
Financial Services	11.7%	27.9%
Consumer Cyclical	10.2%	14.9%
Communication Services	10.1%	1.8%
Industrials	9.4%	16.2%
Healthcare	8.6%	6.4%
Consumer Defensive	4.4%	6.9%
Energy	3.5%	10.5%
Utilities	2.2%	0.4%
Basic Materials	2.0%	4.8%
Real Estate	0.1%	0.8%

Return for Risk

DFUS vs. DFAT — Risk / Return Rank

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

DFUS

DFUS Risk / Return Rank: 69
DFUS Sharpe Ratio Rank: 69
DFUS Sortino Ratio Rank: 67
DFUS Omega Ratio Rank: 68
DFUS Calmar Ratio Rank: 64
DFUS Martin Ratio Rank: 75

DFAT

DFAT Risk / Return Rank: 62
DFAT Sharpe Ratio Rank: 59
DFAT Sortino Ratio Rank: 63
DFAT Omega Ratio Rank: 57
DFAT Calmar Ratio Rank: 70
DFAT Martin Ratio Rank: 62

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.

DFUS vs. DFAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional U.S. Equity Market ETF (DFUS) and Dimensional U.S. Targeted Value ETF (DFAT). 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.

	DFUS	DFAT	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.92	+0.24
Sortino ratio: Return per unit of downside risk	2.93	2.82	+0.11
Omega ratio: Gain probability vs. loss probability	1.39	1.34	+0.05
Calmar ratio: Return relative to maximum drawdown	3.10	3.37	-0.27
Martin ratio: Return relative to average drawdown	13.79	10.82	+2.97

DFUS vs. DFAT - Sharpe Ratio Comparison

The current DFUS Sharpe Ratio is 2.16, which is comparable to the DFAT Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of DFUS and DFAT, 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

DFUS vs. DFAT - Drawdown Comparison

The maximum DFUS drawdown since its inception was -24.62%, smaller than the maximum DFAT drawdown of -26.12%. Use the drawdown chart below to compare losses from any high point for DFUS and DFAT.

Drawdown Indicators

	DFUS	DFAT	Difference
Max Drawdown Largest peak-to-trough decline	-24.62%	-26.12%	+1.50%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-9.55%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-26.12%	+6.68%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-26.12%	+1.50%
Current Drawdown Current decline from peak	-1.38%	-1.47%	+0.09%
Average Drawdown Average peak-to-trough decline	-5.78%	-6.24%	+0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.97%	-0.96%

Volatility

DFUS vs. DFAT - Volatility Comparison

Dimensional U.S. Equity Market ETF (DFUS) has a higher volatility of 4.87% compared to Dimensional U.S. Targeted Value ETF (DFAT) at 3.88%. This indicates that DFUS's price experiences larger fluctuations and is considered to be riskier than DFAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFUS	DFAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	3.88%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	10.07%	10.91%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	12.88%	16.80%	-3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.27%	21.39%	-4.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	21.44%	-4.20%

DFUS vs. DFAT - Expense Ratio Comparison

DFUS has a 0.09% expense ratio, which is lower than DFAT's 0.28% expense ratio.

Dividends

DFUS vs. DFAT - Dividend Comparison

DFUS's dividend yield for the trailing twelve months is around 0.84%, less than DFAT's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021
DFAT Dimensional U.S. Targeted Value ETF	1.42%	1.55%	1.31%	1.34%	1.34%	1.13%
DFUS Dimensional U.S. Equity Market ETF	0.84%	0.88%	1.04%	1.33%	1.48%	0.85%

Frequently Asked Questions

Can I hold both DFUS and DFAT in my portfolio?

DFUS and DFAT have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFUS or DFAT?

DFUS has higher volatility (4.87%) compared to DFAT (3.88%). In terms of maximum drawdown, DFUS dropped -24.62% vs DFAT's -26.12%.

Which ETF is better, DFUS or DFAT?

On 5-year performance, DFUS leads with 13.25% vs 10.54% for DFAT. On fees, DFUS is cheaper at 0.09% per year. On volatility, DFAT has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFUS or DFAT?

Over the 5-year period, DFUS has performed better with a 13.25% return vs 10.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFUS or DFAT?

DFUS is cheaper with a 0.09% expense ratio, compared with 0.28% for DFAT.

Which ETF pays a higher dividend yield, DFUS or DFAT?

DFAT has the higher dividend yield at 1.42%, compared with 0.84% for DFUS.

What is the main difference between DFUS and DFAT?

DFUS is categorized as Large Cap Blend Equities, while DFAT is Small Cap Value Equities. Their fees differ too: 0.09% for DFUS and 0.28% for DFAT.

Which has better risk-adjusted returns?

DFUS currently has the higher Sharpe Ratio (2.16 vs 1.92), 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.