DFUV vs. SPY

Last updated Jun 4, 2026

DFUV (Dimensional US Marketwide Value ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - DFUV is a Large Cap Value Equities fund actively managed by Dimensional, while SPY is a S&P 500 fund tracking the S&P 500 Index. DFUV is actively managed, while SPY is passively managed. Over the past 3 years, DFUV returned 19.61%/yr vs 22.35%/yr for SPY. Their correlation of 0.80 suggests significant overlap in exposure. DFUV charges 0.21%/yr vs 0.09%/yr for SPY.

Performance

DFUV vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Marketwide Value ETF (DFUV) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFUV achieves a 16.95% return, which is significantly higher than SPY's 10.91% return.

DFUV

• 1D: -0.11%
• 1M: 5.54%
• YTD: 16.95%
• 6M: 18.53%
• 1Y: 34.65%
• 3Y*: 19.61%
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

DFUV vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFUV Dimensional US Marketwide Value ETF	16.95%	15.77%	11.79%	13.25%	1.22%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-2.70%

Correlation

The correlation between DFUV and SPY is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since May 10, 2022	0.80

The correlation between DFUV and SPY has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.

DFUV vs. SPY - Sectors Allocation Comparison

Sectors	DFUV	SPY
Financial Services	21.9%	11.8%
Technology	15.7%	35.9%
Healthcare	13.7%	8.4%
Industrials	13.6%	7.8%
Energy	12.9%	3.6%
Consumer Cyclical	7.2%	10.3%
Basic Materials	6.0%	1.8%
Communication Services	5.1%	11.3%
Consumer Defensive	3.4%	4.8%
Real Estate	0.4%	1.9%
Utilities	0.1%	2.4%

Return for Risk

DFUV vs. SPY — Risk / Return Rank

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

DFUV

DFUV Risk / Return Rank: 88
DFUV Sharpe Ratio Rank: 87
DFUV Sortino Ratio Rank: 89
DFUV Omega Ratio Rank: 85
DFUV Calmar Ratio Rank: 91
DFUV Martin Ratio Rank: 90

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

DFUV vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Marketwide Value ETF (DFUV) and State Street SPDR S&P 500 ETF (SPY). 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.

	DFUV	SPY	Difference
Sharpe ratio Return per unit of total volatility	2.96	2.38	+0.58
Sortino ratio Return per unit of downside risk	4.12	3.24	+0.89
Omega ratio Gain probability vs. loss probability	1.52	1.43	+0.09
Calmar ratio Return relative to maximum drawdown	5.80	3.16	+2.63
Martin ratio Return relative to average drawdown	21.03	14.72	+6.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFUV vs. SPY - Sharpe Ratio Comparison

The current DFUV Sharpe Ratio is 2.96, which is comparable to the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of DFUV and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFUV	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.96	2.38	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.59	+0.31

Drawdowns

DFUV vs. SPY - Drawdown Comparison

The maximum DFUV drawdown since its inception was -17.60%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for DFUV and SPY.

Drawdown Indicators

	DFUV	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-17.60%	-55.19%	+37.59%
Max Drawdown (1Y) Largest decline over 1 year	-6.01%	-8.88%	+2.87%
Max Drawdown (3Y) Largest decline over 3 years	-17.60%	-18.76%	+1.16%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.11%	-0.70%	+0.59%
Average Drawdown Average peak-to-trough decline	-3.65%	-9.05%	+5.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.91%	-0.26%

Volatility

DFUV vs. SPY - Volatility Comparison

Dimensional US Marketwide Value ETF (DFUV) has a higher volatility of 3.11% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that DFUV's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFUV	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	2.84%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	8.47%	8.90%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	11.83%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	17.05%	-0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	17.94%	-1.70%

DFUV vs. SPY - Expense Ratio Comparison

DFUV has a 0.21% expense ratio, which is higher than SPY's 0.09% 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

DFUV vs. SPY - Dividend Comparison

DFUV's dividend yield for the trailing twelve months is around 1.35%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFUV Dimensional US Marketwide Value ETF	1.35%	1.55%	1.64%	1.72%	1.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both DFUV and SPY in my portfolio?

DFUV and SPY have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFUV or SPY?

DFUV has higher volatility (3.11%) compared to SPY (2.84%). In terms of maximum drawdown, DFUV dropped -17.60% vs SPY's -55.19%.

Which ETF is better, DFUV or SPY?

On 3-year performance, SPY leads with 22.35% vs 19.61% for DFUV. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFUV or SPY?

Over the 3-year period, SPY has performed better with a 22.35% return vs 19.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFUV or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.21% for DFUV.

Which ETF pays a higher dividend yield, DFUV or SPY?

DFUV has the higher dividend yield at 1.35%, compared with 0.98% for SPY.

What is the main difference between DFUV and SPY?

DFUV is categorized as Large Cap Value Equities, while SPY is S&P 500. They also come from different issuers: Dimensional and State Street. Their fees differ too: 0.21% for DFUV and 0.09% for SPY.

Which has better risk-adjusted returns?

DFUV currently has the higher Sharpe Ratio (2.96 vs 2.38), 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.