DFWVX vs. DFVIX

Last updated Jul 17, 2026

DFWVX (DFA World ex U.S. Value Portfolio Fund) and DFVIX (DFA International Value III Portfolio) are both Foreign Large Cap Equities funds from Dimensional. Over the past 10 years, DFWVX returned 29.11%/yr vs 12.51%/yr for DFVIX. With a 0.97 correlation, they move nearly in lockstep. DFWVX charges 0.40%/yr vs 0.24%/yr for DFVIX.

Performance

DFWVX vs. DFVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA World ex U.S. Value Portfolio Fund (DFWVX) and DFA International Value III Portfolio (DFVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFWVX achieves a 15.21% return, which is significantly higher than DFVIX's 14.24% return. Over the past 10 years, DFWVX has outperformed DFVIX with an annualized return of 29.11%, while DFVIX has yielded a comparatively lower 12.51% annualized return.

DFWVX

• 1D: 0.56%
• 1M: -0.85%
• 6M: 10.84%
• YTD: 15.21%
• 1Y: 33.38%
• 3Y*: 21.63%
• 5Y*: 17.24%
• 10Y*: 29.11%

DFVIX

• 1D: 0.62%
• 1M: 1.19%
• 6M: 10.55%
• YTD: 14.24%
• 1Y: 35.12%
• 3Y*: 22.67%
• 5Y*: 16.97%
• 10Y*: 12.51%

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

DFWVX vs. DFVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFWVX DFA World ex U.S. Value Portfolio Fund	15.21%	40.30%	6.66%	17.37%	-6.41%	32.65%	-0.40%	344.89%	-16.69%	28.21%
DFVIX DFA International Value III Portfolio	14.24%	44.85%	6.86%	17.89%	-3.41%	23.59%	-1.96%	15.85%	-17.29%	26.23%

Correlation

The correlation between DFWVX and DFVIX is 0.94, 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	0.94
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	0.96
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.97

The correlation between DFWVX and DFVIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

DFWVX vs. DFVIX — Risk / Return Rank

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

DFWVX

DFWVX Risk / Return Rank: 86
DFWVX Sharpe Ratio Rank: 90
DFWVX Sortino Ratio Rank: 85
DFWVX Omega Ratio Rank: 85
DFWVX Calmar Ratio Rank: 87
DFWVX Martin Ratio Rank: 85

DFVIX

DFVIX Risk / Return Rank: 89
DFVIX Sharpe Ratio Rank: 92
DFVIX Sortino Ratio Rank: 87
DFVIX Omega Ratio Rank: 85
DFVIX Calmar Ratio Rank: 91
DFVIX Martin Ratio Rank: 92

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.

DFWVX vs. DFVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA World ex U.S. Value Portfolio Fund (DFWVX) and DFA International Value III Portfolio (DFVIX). 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.

	DFWVX	DFVIX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.54	-0.08
Sortino ratio: Return per unit of downside risk	3.27	3.45	-0.18
Omega ratio: Gain probability vs. loss probability	1.46	1.45	0.00
Calmar ratio: Return relative to maximum drawdown	3.43	3.77	-0.34
Martin ratio: Return relative to average drawdown	12.20	14.46	-2.26

DFWVX vs. DFVIX - Sharpe Ratio Comparison

The current DFWVX Sharpe Ratio is 2.46, which is comparable to the DFVIX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of DFWVX and DFVIX, 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

DFWVX vs. DFVIX - Drawdown Comparison

The maximum DFWVX drawdown since its inception was -41.32%, smaller than the maximum DFVIX drawdown of -66.53%. Use the drawdown chart below to compare losses from any high point for DFWVX and DFVIX.

Drawdown Indicators

	DFWVX	DFVIX	Difference
Max Drawdown Largest peak-to-trough decline	-41.32%	-66.53%	+25.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.91%	-9.53%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-14.11%	-14.68%	+0.57%
Max Drawdown (5Y) Largest decline over 5 years	-24.59%	-25.26%	+0.67%
Max Drawdown (10Y) Largest decline over 10 years	-41.32%	-47.89%	+6.57%
Current Drawdown Current decline from peak	-1.79%	0.00%	-1.79%
Average Drawdown Average peak-to-trough decline	-7.04%	-12.23%	+5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.48%	+0.29%

Volatility

DFWVX vs. DFVIX - Volatility Comparison

DFA World ex U.S. Value Portfolio Fund (DFWVX) has a higher volatility of 4.65% compared to DFA International Value III Portfolio (DFVIX) at 3.59%. This indicates that DFWVX's price experiences larger fluctuations and is considered to be riskier than DFVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFWVX	DFVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	3.59%	+1.06%
Volatility (6M) Calculated over the trailing 6-month period	12.01%	11.61%	+0.40%
Volatility (1Y) Calculated over the trailing 1-year period	13.85%	14.20%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	16.46%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.78%	17.75%	+17.03%

DFWVX vs. DFVIX - Expense Ratio Comparison

DFWVX has a 0.40% expense ratio, which is higher than DFVIX's 0.24% expense ratio.

Dividends

DFWVX vs. DFVIX - Dividend Comparison

DFWVX's dividend yield for the trailing twelve months is around 3.35%, less than DFVIX's 3.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFVIX DFA International Value III Portfolio	3.79%	4.09%	4.16%	4.44%	3.82%	7.97%	2.25%	3.53%	6.16%	3.02%	3.43%	5.84%
DFWVX DFA World ex U.S. Value Portfolio Fund	3.35%	3.66%	4.28%	4.30%	3.75%	15.97%	2.43%	110.54%	5.26%	2.70%	2.92%	2.77%

Frequently Asked Questions

Can I hold both DFWVX and DFVIX in my portfolio?

With a correlation of 0.94, DFWVX and DFVIX 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, DFWVX or DFVIX?

DFWVX has higher volatility (4.65%) compared to DFVIX (3.59%). In terms of maximum drawdown, DFWVX dropped -41.32% vs DFVIX's -66.53%.

Which has better risk-adjusted returns?

DFVIX currently has the higher Sharpe Ratio (2.54 vs 2.46), 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.