DISV vs. DFAI

Last updated Jun 24, 2026

DISV (Dimensional International Small Cap Value ETF) and DFAI (Dimensional International Core Equity Market ETF) are both exchange-traded funds - DISV is a Foreign Small & Mid Cap Equities fund actively managed by Dimensional, while DFAI is a Foreign Large Cap Equities fund actively managed by Dimensional. Both are actively managed. Over the past 3 years, DISV returned 23.41%/yr vs 17.77%/yr for DFAI. Their correlation of 0.94 suggests significant overlap in exposure. DISV charges 0.42%/yr vs 0.18%/yr for DFAI.

Performance

DISV vs. DFAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional International Small Cap Value ETF (DISV) and Dimensional International Core Equity Market ETF (DFAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DISV achieves a 6.66% return, which is significantly lower than DFAI's 7.50% return.

DISV

• 1D: -2.93%
• 1M: -3.68%
• YTD: 6.66%
• 6M: 6.73%
• 1Y: 28.97%
• 3Y*: 23.41%
• 5Y*: —
• 10Y*: —

DFAI

• 1D: -2.83%
• 1M: -1.64%
• YTD: 7.50%
• 6M: 6.97%
• 1Y: 23.12%
• 3Y*: 17.77%
• 5Y*: 9.35%
• 10Y*: —

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

DISV vs. DFAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DISV Dimensional International Small Cap Value ETF	6.66%	47.42%	5.87%	19.52%	-9.36%
DFAI Dimensional International Core Equity Market ETF	7.50%	34.04%	4.68%	17.60%	-8.37%

Correlation

The correlation between DISV and DFAI is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 24, 2022	0.94

The correlation between DISV and DFAI has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

DISV vs. DFAI - Sectors Allocation Comparison

Sectors	DISV	DFAI
Basic Materials	19.9%	10.8%
Financial Services	19.5%	26.9%
Industrials	17.8%	17.2%
Consumer Cyclical	15.4%	5.8%
Energy	7.1%	4.7%
Technology	3.9%	7.8%
Consumer Defensive	3.6%	5.3%
Healthcare	3.6%	11.4%
Real Estate	3.2%	1.5%
Communication Services	2.4%	4.3%
Utilities	1.9%	4.2%

Return for Risk

DISV vs. DFAI — Risk / Return Rank

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

DISV

DISV Risk / Return Rank: 55
DISV Sharpe Ratio Rank: 60
DISV Sortino Ratio Rank: 58
DISV Omega Ratio Rank: 58
DISV Calmar Ratio Rank: 48
DISV Martin Ratio Rank: 51

DFAI

DFAI Risk / Return Rank: 47
DFAI Sharpe Ratio Rank: 47
DFAI Sortino Ratio Rank: 46
DFAI Omega Ratio Rank: 46
DFAI Calmar Ratio Rank: 44
DFAI Martin Ratio Rank: 50

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.

DISV vs. DFAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Small Cap Value ETF (DISV) and Dimensional International Core Equity Market ETF (DFAI). 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.

	DISV	DFAI	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.57	+0.34
Sortino ratio: Return per unit of downside risk	2.62	2.21	+0.41
Omega ratio: Gain probability vs. loss probability	1.34	1.29	+0.06
Calmar ratio: Return relative to maximum drawdown	2.29	2.12	+0.17
Martin ratio: Return relative to average drawdown	8.44	8.25	+0.19

DISV vs. DFAI - Sharpe Ratio Comparison

The current DISV Sharpe Ratio is 1.92, which is comparable to the DFAI Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of DISV and DFAI, 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

DISV vs. DFAI - Drawdown Comparison

The maximum DISV drawdown since its inception was -26.77%, roughly equal to the maximum DFAI drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for DISV and DFAI.

Drawdown Indicators

	DISV	DFAI	Difference
Max Drawdown Largest peak-to-trough decline	-26.77%	-27.44%	+0.67%
Max Drawdown (1Y) Largest decline over 1 year	-12.69%	-10.95%	-1.74%
Max Drawdown (3Y) Largest decline over 3 years	-14.15%	-13.25%	-0.90%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.44%	—
Current Drawdown Current decline from peak	-6.16%	-3.10%	-3.06%
Average Drawdown Average peak-to-trough decline	-4.88%	-5.09%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	2.81%	+0.63%

Volatility

DISV vs. DFAI - Volatility Comparison

Dimensional International Small Cap Value ETF (DISV) and Dimensional International Core Equity Market ETF (DFAI) have volatilities of 5.57% and 5.38%, 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

	DISV	DFAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.57%	5.38%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	12.69%	12.60%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.19%	14.77%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.43%	16.03%	+1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.43%	15.77%	+1.66%

DISV vs. DFAI - Expense Ratio Comparison

DISV has a 0.42% expense ratio, which is higher than DFAI's 0.18% expense ratio.

Dividends

DISV vs. DFAI - Dividend Comparison

DISV's dividend yield for the trailing twelve months is around 2.48%, more than DFAI's 2.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	2.29%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%
DISV Dimensional International Small Cap Value ETF	2.48%	2.69%	2.77%	2.73%	1.23%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DISV and DFAI in my portfolio?

With a correlation of 0.92, DISV and DFAI 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, DISV or DFAI?

DISV has higher volatility (5.57%) compared to DFAI (5.38%). In terms of maximum drawdown, DISV dropped -26.77% vs DFAI's -27.44%.

Which ETF is better, DISV or DFAI?

On 3-year performance, DISV leads with 23.41% vs 17.77% for DFAI. On fees, DFAI is cheaper at 0.18% per year. On volatility, DFAI has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DISV or DFAI?

Over the 3-year period, DISV has performed better with a 23.41% return vs 17.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DISV or DFAI?

DFAI is cheaper with a 0.18% expense ratio, compared with 0.42% for DISV.

Which ETF pays a higher dividend yield, DISV or DFAI?

DISV has the higher dividend yield at 2.48%, compared with 2.29% for DFAI.

What is the main difference between DISV and DFAI?

DISV is categorized as Foreign Small & Mid Cap Equities, while DFAI is Foreign Large Cap Equities. Their fees differ too: 0.42% for DISV and 0.18% for DFAI.

Which has better risk-adjusted returns?

DISV currently has the higher Sharpe Ratio (1.92 vs 1.57), 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.