DFVEX vs. IWP
DFVEX (DFA U.S. Vector Equity Fund) and IWP (iShares Russell Mid-Cap Growth ETF) are both funds - DFVEX is a Mid Cap Value Equities fund managed by Dimensional, while IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index. Over the past 10 years, DFVEX returned 12.58%/yr vs 12.61%/yr for IWP. Their correlation of 0.87 suggests significant overlap in exposure. DFVEX charges 0.28%/yr vs 0.23%/yr for IWP.
Performance
DFVEX vs. IWP - Performance Comparison
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Returns By Period
In the year-to-date period, DFVEX achieves a 11.77% return, which is significantly higher than IWP's 2.34% return. Both investments have delivered pretty close results over the past 10 years, with DFVEX having a 12.58% annualized return and IWP not far ahead at 12.61%.
DFVEX
- 1D
- -0.06%
- 1M
- 1.39%
- YTD
- 11.77%
- 6M
- 10.48%
- 1Y
- 27.00%
- 3Y*
- 18.22%
- 5Y*
- 10.94%
- 10Y*
- 12.58%
IWP
- 1D
- -1.30%
- 1M
- 0.47%
- YTD
- 2.34%
- 6M
- 0.42%
- 1Y
- 3.70%
- 3Y*
- 15.03%
- 5Y*
- 5.03%
- 10Y*
- 12.61%
DFVEX vs. IWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFVEX DFA U.S. Vector Equity Fund | 11.77% | 13.66% | 14.36% | 17.60% | -9.96% | 32.10% | 7.53% | 26.11% | -13.24% | 14.15% |
IWP iShares Russell Mid-Cap Growth ETF | 2.34% | 8.45% | 21.86% | 25.70% | -26.90% | 12.60% | 35.25% | 35.04% | -4.89% | 24.93% |
Correlation
The correlation between DFVEX and IWP is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006 | 0.87 |
The correlation between DFVEX and IWP has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.
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Return for Risk
DFVEX vs. IWP — Risk / Return Rank
DFVEX
IWP
DFVEX vs. IWP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA U.S. Vector Equity Fund (DFVEX) and iShares Russell Mid-Cap Growth ETF (IWP). 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.
| DFVEX | IWP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +2.80 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.05 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 0.25 | +3.12 |
| Martin ratioReturn relative to average drawdown | 13.79 | 0.72 | +13.06 |
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Drawdowns
DFVEX vs. IWP - Drawdown Comparison
The maximum DFVEX drawdown since its inception was -62.71%, which is greater than IWP's maximum drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for DFVEX and IWP.
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Drawdown Indicators
| DFVEX | IWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.71% | -56.92% | -5.79% |
Max Drawdown (1Y)Largest decline over 1 year | -8.45% | -14.79% | +6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -21.20% | -25.20% | +4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -21.20% | -38.62% | +17.42% |
Max Drawdown (10Y)Largest decline over 10 years | -42.20% | -38.62% | -3.58% |
Current DrawdownCurrent decline from peak | -0.84% | -3.43% | +2.59% |
Average DrawdownAverage peak-to-trough decline | -9.09% | -9.67% | +0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 5.11% | -3.06% |
Volatility
DFVEX vs. IWP - Volatility Comparison
The current volatility for DFA U.S. Vector Equity Fund (DFVEX) is 3.97%, while iShares Russell Mid-Cap Growth ETF (IWP) has a volatility of 5.81%. This indicates that DFVEX experiences smaller price fluctuations and is considered to be less risky than IWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFVEX | IWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.97% | 5.81% | -1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 9.51% | 13.37% | -3.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.51% | 17.07% | -4.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.21% | 22.40% | -4.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.16% | 21.69% | -1.53% |
DFVEX vs. IWP - Expense Ratio Comparison
DFVEX has a 0.28% expense ratio, which is higher than IWP's 0.23% expense ratio.
Dividends
DFVEX vs. IWP - Dividend Comparison
DFVEX's dividend yield for the trailing twelve months is around 1.08%, more than IWP's 0.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFVEX DFA U.S. Vector Equity Fund | 1.08% | 0.91% | 1.26% | 3.33% | 4.94% | 9.56% | 1.28% | 2.98% | 4.09% | 4.41% | 3.46% | 4.59% |
IWP iShares Russell Mid-Cap Growth ETF | 0.35% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
Frequently Asked Questions
DFVEX and IWP have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWP has higher volatility (5.81%) compared to DFVEX (3.97%). In terms of maximum drawdown, DFVEX dropped -62.71% vs IWP's -56.92%.
DFVEX currently has the higher Sharpe Ratio (2.28 vs 0.22), 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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