DGEIX vs. DFAW

Last updated Jun 23, 2026

DGEIX (DFA Global Equity Portfolio Institutional Class) and DFAW (Dimensional World Equity ETF) are both Global Equities funds from Dimensional. Both are actively managed. Over the past year, DGEIX returned 29.34% vs 30.46% for DFAW. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.25% expense ratio.

Performance

DGEIX vs. DFAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Global Equity Portfolio Institutional Class (DGEIX) and Dimensional World Equity ETF (DFAW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DGEIX having a 12.58% return and DFAW slightly higher at 12.92%.

DGEIX

• 1D: 0.95%
• 1M: 1.55%
• YTD: 12.58%
• 6M: 12.04%
• 1Y: 29.34%
• 3Y*: 19.20%
• 5Y*: 11.30%
• 10Y*: 12.54%

DFAW

• 1D: 0.06%
• 1M: 1.62%
• YTD: 12.92%
• 6M: 12.38%
• 1Y: 30.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DGEIX vs. DFAW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DGEIX DFA Global Equity Portfolio Institutional Class	12.58%	19.86%	15.71%	11.80%
DFAW Dimensional World Equity ETF	12.92%	20.62%	15.49%	11.44%

Correlation

The correlation between DGEIX and DFAW is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 27, 2023	0.98

The correlation between DGEIX and DFAW has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

DGEIX vs. DFAW — Risk / Return Rank

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

DGEIX

DGEIX Risk / Return Rank: 77
DGEIX Sharpe Ratio Rank: 78
DGEIX Sortino Ratio Rank: 74
DGEIX Omega Ratio Rank: 73
DGEIX Calmar Ratio Rank: 77
DGEIX Martin Ratio Rank: 82

DFAW

DFAW Risk / Return Rank: 77
DFAW Sharpe Ratio Rank: 79
DFAW Sortino Ratio Rank: 78
DFAW Omega Ratio Rank: 78
DFAW Calmar Ratio Rank: 71
DFAW Martin Ratio Rank: 79

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.

DGEIX vs. DFAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Global Equity Portfolio Institutional Class (DGEIX) and Dimensional World Equity ETF (DFAW). 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.

	DGEIX	DFAW	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.42	-0.05
Sortino ratio: Return per unit of downside risk	3.26	3.30	-0.04
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	3.29	3.44	-0.15
Martin ratio: Return relative to average drawdown	14.22	15.01	-0.79

DGEIX vs. DFAW - Sharpe Ratio Comparison

The current DGEIX Sharpe Ratio is 2.37, which is comparable to the DFAW Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of DGEIX and DFAW, 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

DGEIX vs. DFAW - Drawdown Comparison

The maximum DGEIX drawdown since its inception was -59.77%, which is greater than DFAW's maximum drawdown of -16.93%. Use the drawdown chart below to compare losses from any high point for DGEIX and DFAW.

Drawdown Indicators

	DGEIX	DFAW	Difference
Max Drawdown Largest peak-to-trough decline	-59.77%	-16.93%	-42.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-8.88%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-16.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.00%	—	—
Current Drawdown Current decline from peak	-0.56%	-0.55%	-0.01%
Average Drawdown Average peak-to-trough decline	-7.98%	-1.70%	-6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.03%	+0.02%

Volatility

DGEIX vs. DFAW - Volatility Comparison

DFA Global Equity Portfolio Institutional Class (DGEIX) and Dimensional World Equity ETF (DFAW) have volatilities of 4.58% and 4.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGEIX	DFAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	4.80%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	10.26%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	12.30%	12.68%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.74%	14.57%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	14.57%	+2.33%

DGEIX vs. DFAW - Expense Ratio Comparison

Both DGEIX and DFAW have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

DGEIX vs. DFAW - Dividend Comparison

DGEIX's dividend yield for the trailing twelve months is around 2.70%, more than DFAW's 1.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAW Dimensional World Equity ETF	1.54%	1.71%	1.47%	0.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DGEIX DFA Global Equity Portfolio Institutional Class	2.70%	2.79%	3.64%	3.82%	4.92%	1.94%	2.37%	2.22%	2.62%	1.50%	1.90%	1.98%

Frequently Asked Questions

Can I hold both DGEIX and DFAW in my portfolio?

With a correlation of 0.99, DGEIX and DFAW 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, DGEIX or DFAW?

DFAW has higher volatility (4.80%) compared to DGEIX (4.58%). In terms of maximum drawdown, DGEIX dropped -59.77% vs DFAW's -16.93%.

Which has better risk-adjusted returns?

DFAW currently has the higher Sharpe Ratio (2.42 vs 2.37), 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.