DFUS vs. VOO

Last updated Jun 23, 2026

DFUS (Dimensional U.S. Equity Market ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - DFUS is a Large Cap Blend Equities fund actively managed by Dimensional, while VOO is a S&P 500 fund tracking the S&P 500 Index. DFUS is actively managed, while VOO is passively managed. Over the past 5 years, DFUS returned 13.25%/yr vs 13.58%/yr for VOO. With a 0.99 correlation, they move nearly in lockstep. DFUS charges 0.09%/yr vs 0.03%/yr for VOO.

Performance

DFUS vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional U.S. Equity Market ETF (DFUS) and Vanguard S&P 500 ETF (VOO). 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 higher than VOO's 9.75% return.

DFUS

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

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

DFUS vs. VOO - 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%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	13.08%

Correlation

The correlation between DFUS and VOO 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 (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	1.00

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

DFUS vs. VOO - Sectors Allocation Comparison

Sectors	DFUS	VOO
Technology	37.7%	39.1%
Financial Services	11.7%	10.9%
Consumer Cyclical	10.2%	9.8%
Communication Services	10.1%	10.5%
Industrials	9.4%	7.6%
Healthcare	8.6%	8.3%
Consumer Defensive	4.4%	4.5%
Energy	3.5%	3.2%
Utilities	2.2%	2.5%
Basic Materials	2.0%	1.7%
Real Estate	0.1%	1.8%

Return for Risk

DFUS vs. VOO — 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

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional U.S. Equity Market ETF (DFUS) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.17	-0.01
Sortino ratio: Return per unit of downside risk	2.93	2.93	0.00
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	3.10	3.02	+0.08
Martin ratio: Return relative to average drawdown	13.79	13.58	+0.21

DFUS vs. VOO - Sharpe Ratio Comparison

The current DFUS Sharpe Ratio is 2.16, which is comparable to the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of DFUS and VOO, 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. VOO - Drawdown Comparison

The maximum DFUS drawdown since its inception was -24.62%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for DFUS and VOO.

Drawdown Indicators

	DFUS	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-24.62%	-33.99%	+9.37%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-8.90%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-18.69%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-24.52%	-0.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-1.38%	-1.74%	+0.36%
Average Drawdown Average peak-to-trough decline	-5.78%	-3.68%	-2.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.98%	+0.03%

Volatility

DFUS vs. VOO - Volatility Comparison

Dimensional U.S. Equity Market ETF (DFUS) has a higher volatility of 4.87% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that DFUS's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFUS	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	4.60%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	10.07%	9.73%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	12.88%	12.39%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.27%	16.90%	+0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	18.05%	-0.81%

DFUS vs. VOO - Expense Ratio Comparison

DFUS has a 0.09% expense ratio, which is higher than VOO's 0.03% 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%.

Dividends

DFUS vs. VOO - Dividend Comparison

DFUS's dividend yield for the trailing twelve months is around 0.84%, less than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFUS Dimensional U.S. Equity Market ETF	0.84%	0.88%	1.04%	1.33%	1.48%	0.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both DFUS and VOO in my portfolio?

With a correlation of 1.00, DFUS and VOO 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, DFUS or VOO?

DFUS has higher volatility (4.87%) compared to VOO (4.60%). In terms of maximum drawdown, DFUS dropped -24.62% vs VOO's -33.99%.

Which ETF is better, DFUS or VOO?

On 5-year performance, VOO leads with 13.58% vs 13.25% for DFUS. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFUS or VOO?

Over the 5-year period, VOO has performed better with a 13.58% return vs 13.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFUS or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.09% for DFUS.

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

VOO has the higher dividend yield at 1.04%, compared with 0.84% for DFUS.

What is the main difference between DFUS and VOO?

DFUS is categorized as Large Cap Blend Equities, while VOO is S&P 500. They also come from different issuers: Dimensional and Vanguard. Their fees differ too: 0.09% for DFUS and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.17 vs 2.16), 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.