DFWIX vs. VEA

Last updated Jun 24, 2026

DFWIX (DFA World ex U.S. Core Equity Portfolio) and VEA (Vanguard FTSE Developed Markets ETF) are both Foreign Large Cap Equities funds. Over the past 10 years, DFWIX returned 11.82%/yr vs 10.72%/yr for VEA. With a 0.95 correlation, they move nearly in lockstep. DFWIX charges 0.31%/yr vs 0.03%/yr for VEA.

Performance

DFWIX vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA World ex U.S. Core Equity Portfolio (DFWIX) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFWIX achieves a 15.19% return, which is significantly higher than VEA's 13.11% return. Over the past 10 years, DFWIX has outperformed VEA with an annualized return of 11.82%, while VEA has yielded a comparatively lower 10.72% annualized return.

DFWIX

• 1D: 0.05%
• 1M: 2.27%
• YTD: 15.19%
• 6M: 15.05%
• 1Y: 33.26%
• 3Y*: 20.39%
• 5Y*: 11.88%
• 10Y*: 11.82%

VEA

• 1D: -3.07%
• 1M: 0.11%
• YTD: 13.11%
• 6M: 12.98%
• 1Y: 30.28%
• 3Y*: 19.47%
• 5Y*: 9.50%
• 10Y*: 10.72%

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

DFWIX vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFWIX DFA World ex U.S. Core Equity Portfolio	15.19%	33.45%	4.34%	16.74%	-14.04%	22.41%	9.35%	19.98%	-17.00%	30.17%
VEA Vanguard FTSE Developed Markets ETF	13.11%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between DFWIX and VEA is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.95

The correlation between DFWIX and VEA has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

DFWIX vs. VEA — Risk / Return Rank

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

DFWIX

DFWIX Risk / Return Rank: 75
DFWIX Sharpe Ratio Rank: 81
DFWIX Sortino Ratio Rank: 75
DFWIX Omega Ratio Rank: 78
DFWIX Calmar Ratio Rank: 74
DFWIX Martin Ratio Rank: 68

VEA

VEA Risk / Return Rank: 55
VEA Sharpe Ratio Rank: 55
VEA Sortino Ratio Rank: 53
VEA Omega Ratio Rank: 55
VEA Calmar Ratio Rank: 55
VEA Martin Ratio Rank: 59

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.

DFWIX vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA World ex U.S. Core Equity Portfolio (DFWIX) and Vanguard FTSE Developed Markets ETF (VEA). 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.

	DFWIX	VEA	Difference
Sharpe ratio: Return per unit of total volatility	2.45	1.81	+0.64
Sortino ratio: Return per unit of downside risk	3.32	2.48	+0.84
Omega ratio: Gain probability vs. loss probability	1.46	1.33	+0.13
Calmar ratio: Return relative to maximum drawdown	3.18	2.62	+0.57
Martin ratio: Return relative to average drawdown	12.35	10.06	+2.28

DFWIX vs. VEA - Sharpe Ratio Comparison

The current DFWIX Sharpe Ratio is 2.45, which is higher than the VEA Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of DFWIX and VEA, 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

DFWIX vs. VEA - Drawdown Comparison

The maximum DFWIX drawdown since its inception was -41.80%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for DFWIX and VEA.

Drawdown Indicators

	DFWIX	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-41.80%	-60.68%	+18.88%
Max Drawdown (1Y) Largest decline over 1 year	-10.82%	-11.63%	+0.81%
Max Drawdown (3Y) Largest decline over 3 years	-13.11%	-13.45%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-27.31%	-29.71%	+2.40%
Max Drawdown (10Y) Largest decline over 10 years	-41.80%	-35.73%	-6.07%
Current Drawdown Current decline from peak	-0.21%	-3.07%	+2.86%
Average Drawdown Average peak-to-trough decline	-8.12%	-13.26%	+5.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	3.02%	-0.25%

Volatility

DFWIX vs. VEA - Volatility Comparison

The current volatility for DFA World ex U.S. Core Equity Portfolio (DFWIX) is 5.61%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 7.09%. This indicates that DFWIX experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFWIX	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	7.09%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	14.74%	-2.55%
Volatility (1Y) Calculated over the trailing 1-year period	14.10%	16.79%	-2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.28%	16.76%	-1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.64%	17.21%	-1.57%

DFWIX vs. VEA - Expense Ratio Comparison

DFWIX has a 0.31% expense ratio, which is higher than VEA's 0.03% expense ratio.

Dividends

DFWIX vs. VEA - Dividend Comparison

DFWIX's dividend yield for the trailing twelve months is around 2.79%, more than VEA's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFWIX DFA World ex U.S. Core Equity Portfolio	2.79%	3.00%	3.32%	3.36%	3.11%	10.71%	1.81%	2.36%	3.50%	2.36%	2.59%	2.31%
VEA Vanguard FTSE Developed Markets ETF	2.58%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both DFWIX and VEA in my portfolio?

With a correlation of 0.93, DFWIX and VEA 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, DFWIX or VEA?

VEA has higher volatility (7.09%) compared to DFWIX (5.61%). In terms of maximum drawdown, DFWIX dropped -41.80% vs VEA's -60.68%.

Which has better risk-adjusted returns?

DFWIX currently has the higher Sharpe Ratio (2.45 vs 1.81), 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.