DFVX vs. DFAT

Last updated Aug 2, 2026

DFVX (Dimensional US Large Cap Vector ETF) and DFAT (Dimensional U.S. Targeted Value ETF) are both exchange-traded funds - DFVX is a Large Cap Value 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 year, DFVX returned 23.19% vs 34.62% for DFAT. Their 0.80 correlation means they have sometimes moved together and sometimes differently. DFVX charges 0.22%/yr vs 0.28%/yr for DFAT.

Performance

DFVX vs. DFAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Large Cap Vector ETF (DFVX) 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, DFVX achieves a 13.39% return, which is significantly lower than DFAT's 19.60% return.

DFVX

• 1D: 1.45%
• 1M: 1.68%
• 6M: 8.85%
• YTD: 13.39%
• 1Y: 23.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.51%

DFAT

• 1D: -0.16%
• 1M: 1.65%
• 6M: 12.28%
• YTD: 19.60%
• 1Y: 34.62%
• 3Y*: 14.22%
• 5Y*: 11.52%
• 10Y*: —
• ALL TIME*: 10.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFAT Dimensional U.S. Targeted Value ETF	$27.35M	$25.25M	$22.69M
DFVX Dimensional US Large Cap Vector ETF	$902.16K	$893.51K	$912.47K

DFVX vs. DFAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFVX Dimensional US Large Cap Vector ETF	13.39%	15.35%	17.72%	10.84%
DFAT Dimensional U.S. Targeted Value ETF	19.60%	8.73%	7.80%	20.55%

Correlation

The correlation between DFVX and DFAT is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.80

The correlation between DFVX and DFAT has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

DFVX vs. DFAT - Sectors Allocation Comparison

Sectors	DFVX	DFAT
Technology	17.4%	7.9%
Industrials	14.5%	15.5%
Financial Services	13.7%	29.1%
Communication Services	13.1%	1.9%
Consumer Cyclical	10.9%	14.1%
Healthcare	10.9%	7.0%
Energy	7.9%	10.0%
Consumer Defensive	7.4%	7.3%
Basic Materials	3.6%	5.5%
Utilities	0.4%	0.4%
Real Estate	0.1%	0.8%

Return for Risk

DFVX vs. DFAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFVX

DFVX Risk / Return Rank: 82
DFVX Sharpe Ratio Rank: 82
DFVX Sortino Ratio Rank: 80
DFVX Omega Ratio Rank: 81
DFVX Calmar Ratio Rank: 81
DFVX Martin Ratio Rank: 87

DFAT

DFAT Risk / Return Rank: 86
DFAT Sharpe Ratio Rank: 85
DFAT Sortino Ratio Rank: 88
DFAT Omega Ratio Rank: 84
DFAT Calmar Ratio Rank: 86
DFAT Martin Ratio Rank: 84

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFVX vs. DFAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Large Cap Vector ETF (DFVX) 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.

	DFVX	DFAT	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.01	-0.13
Sortino ratio: Return per unit of downside risk	2.62	2.99	-0.37
Omega ratio: Gain probability vs. loss probability	1.34	1.36	-0.02
Calmar ratio: Return relative to maximum drawdown	2.96	3.37	-0.41
Martin ratio: Return relative to average drawdown	12.70	11.35	+1.35

DFVX vs. DFAT - Sharpe Ratio Comparison

The current DFVX Sharpe Ratio is 1.88, which is comparable to the DFAT Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of DFVX 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

DFVX vs. DFAT - Drawdown Comparison

The maximum DFVX drawdown since its inception was -16.71%, smaller than the maximum DFAT drawdown of -26.12%. Use the drawdown chart below to compare losses from any high point for DFVX and DFAT.

Drawdown Indicators

	DFVX	DFAT	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-26.12%	+9.41%
Max Drawdown (1Y) Largest decline over 1 year	-7.17%	-9.55%	+2.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.12%	—
Current Drawdown Current decline from peak	0.00%	-1.10%	+1.10%
Average Drawdown Average peak-to-trough decline	-1.74%	-6.12%	+4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	2.83%	-1.15%

Volatility

DFVX vs. DFAT - Volatility Comparison

The current volatility for Dimensional US Large Cap Vector ETF (DFVX) is 3.07%, while Dimensional U.S. Targeted Value ETF (DFAT) has a volatility of 3.42%. This indicates that DFVX experiences smaller price fluctuations and is considered to be less risky than DFAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFVX	DFAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	3.42%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	8.61%	10.32%	-1.71%
Volatility (1Y) Calculated over the trailing 1-year period	11.31%	16.08%	-4.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.58%	21.19%	-7.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.58%	21.26%	-7.68%

DFVX vs. DFAT - Expense Ratio Comparison

DFVX has a 0.22% expense ratio, which is lower than DFAT's 0.28% expense ratio.

Dividends

DFVX vs. DFAT - Dividend Comparison

DFVX's dividend yield for the trailing twelve months is around 1.14%, less than DFAT's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021
DFAT Dimensional U.S. Targeted Value ETF	1.36%	1.55%	1.31%	1.34%	1.34%	1.13%
DFVX Dimensional US Large Cap Vector ETF	1.14%	1.21%	1.22%	0.32%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFVX and DFAT in my portfolio?

DFVX and DFAT have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFVX or DFAT?

DFAT has higher volatility (3.42%) compared to DFVX (3.07%). In terms of maximum drawdown, DFVX dropped -16.71% vs DFAT's -26.12%.

Which ETF is better, DFVX or DFAT?

On 1-year performance, DFAT leads with 34.62% vs 23.19% for DFVX. On fees, DFVX is cheaper at 0.22% per year. On volatility, DFVX has been the lower-risk option at 3.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFVX or DFAT?

Over the 1-year period, DFAT has performed better with a 34.62% return vs 23.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFVX or DFAT?

DFVX is cheaper with a 0.22% expense ratio, compared with 0.28% for DFAT.

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

DFAT has the higher dividend yield at 1.36%, compared with 1.14% for DFVX.

What is the main difference between DFVX and DFAT?

DFVX is categorized as Large Cap Value Equities, while DFAT is Small Cap Value Equities. Their fees differ too: 0.22% for DFVX and 0.28% for DFAT.

Which has better risk-adjusted returns?

DFAT currently has the higher Sharpe Ratio (2.01 vs 1.88), 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.