DISVX vs. DFEMX

Last updated Aug 4, 2026

DISVX (DFA International Small Cap Value Portfolio Institutional Class) and DFEMX (DFA Emerging Markets Portfolio) are both mutual funds - DISVX is a Foreign Small & Mid Cap Equities fund actively managed by Dimensional, while DFEMX is a Emerging Markets Equities fund managed by Dimensional. Over the past 10 years, DISVX returned 10.79%/yr vs 9.57%/yr for DFEMX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. DISVX charges 0.43%/yr vs 0.36%/yr for DFEMX.

Performance

DISVX vs. DFEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA International Small Cap Value Portfolio Institutional Class (DISVX) and DFA Emerging Markets Portfolio (DFEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DISVX achieves a 10.94% return, which is significantly lower than DFEMX's 19.35% return. Over the past 10 years, DISVX has outperformed DFEMX with an annualized return of 10.79%, while DFEMX has yielded a comparatively lower 9.57% annualized return.

DISVX

• 1D: -0.85%
• 1M: 2.17%
• 6M: 3.74%
• YTD: 10.94%
• 1Y: 31.03%
• 3Y*: 23.94%
• 5Y*: 14.38%
• 10Y*: 10.79%
• ALL TIME*: 8.34%

DFEMX

• 1D: 1.94%
• 1M: -2.13%
• 6M: 10.62%
• YTD: 19.35%
• 1Y: 38.16%
• 3Y*: 19.55%
• 5Y*: 9.60%
• 10Y*: 9.57%
• ALL TIME*: 7.49%

*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)
DFEMX DFA Emerging Markets Portfolio	$0.00	$0.00	$0.00
DISVX DFA International Small Cap Value Portfolio Institutional Class	$0.00	$0.00	$0.00

DISVX vs. DFEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DISVX DFA International Small Cap Value Portfolio Institutional Class	10.94%	52.17%	7.88%	17.58%	-9.80%	15.84%	0.82%	21.04%	-23.36%	25.41%
DFEMX DFA Emerging Markets Portfolio	19.35%	33.57%	6.90%	13.08%	-16.91%	2.53%	13.89%	16.02%	-13.62%	36.57%

Correlation

The correlation between DISVX and DFEMX is 0.64, 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.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.65
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (10Y) Provides a long-term view across more market conditions.	0.71
Correlation (All Time) Calculated using the full available price history since Dec 29, 1994	0.67

The correlation between DISVX and DFEMX has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.

Return for Risk

DISVX vs. DFEMX — Risk / Return Rank

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

DISVX

DISVX Risk / Return Rank: 75
DISVX Sharpe Ratio Rank: 86
DISVX Sortino Ratio Rank: 83
DISVX Omega Ratio Rank: 81
DISVX Calmar Ratio Rank: 72
DISVX Martin Ratio Rank: 53

DFEMX

DFEMX Risk / Return Rank: 67
DFEMX Sharpe Ratio Rank: 69
DFEMX Sortino Ratio Rank: 56
DFEMX Omega Ratio Rank: 70
DFEMX Calmar Ratio Rank: 76
DFEMX Martin Ratio Rank: 62

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.

DISVX vs. DFEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA International Small Cap Value Portfolio Institutional Class (DISVX) and DFA Emerging Markets Portfolio (DFEMX). 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.

	DISVX	DFEMX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.68	+0.44
Sortino ratio: Return per unit of downside risk	2.99	2.19	+0.80
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.06
Calmar ratio: Return relative to maximum drawdown	2.43	2.58	-0.15
Martin ratio: Return relative to average drawdown	7.69	8.49	-0.80

DISVX vs. DFEMX - Sharpe Ratio Comparison

The current DISVX Sharpe Ratio is 2.12, which is comparable to the DFEMX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of DISVX and DFEMX, 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

DISVX vs. DFEMX - Drawdown Comparison

The maximum DISVX drawdown since its inception was -61.57%, roughly equal to the maximum DFEMX drawdown of -62.43%. Use the drawdown chart below to compare losses from any high point for DISVX and DFEMX.

Drawdown Indicators

	DISVX	DFEMX	Difference
Max Drawdown Largest peak-to-trough decline	-61.57%	-62.43%	+0.86%
Max Drawdown (1Y) Largest decline over 1 year	-13.26%	-14.29%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-13.69%	-16.12%	+2.43%
Max Drawdown (5Y) Largest decline over 5 years	-27.43%	-29.53%	+2.10%
Max Drawdown (10Y) Largest decline over 10 years	-49.24%	-40.44%	-8.80%
Current Drawdown Current decline from peak	-3.06%	-9.43%	+6.37%
Average Drawdown Average peak-to-trough decline	-12.16%	-15.29%	+3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	4.32%	-0.16%

Volatility

DISVX vs. DFEMX - Volatility Comparison

The current volatility for DFA International Small Cap Value Portfolio Institutional Class (DISVX) is 4.95%, while DFA Emerging Markets Portfolio (DFEMX) has a volatility of 9.32%. This indicates that DISVX experiences smaller price fluctuations and is considered to be less risky than DFEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DISVX	DFEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	9.32%	-4.37%
Volatility (6M) Calculated over the trailing 6-month period	12.89%	20.43%	-7.54%
Volatility (1Y) Calculated over the trailing 1-year period	15.16%	21.90%	-6.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.13%	16.82%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	17.02%	-0.54%

DISVX vs. DFEMX - Expense Ratio Comparison

DISVX has a 0.43% expense ratio, which is higher than DFEMX's 0.36% expense ratio.

Dividends

DISVX vs. DFEMX - Dividend Comparison

DISVX's dividend yield for the trailing twelve months is around 6.49%, more than DFEMX's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFEMX DFA Emerging Markets Portfolio	2.05%	2.55%	3.14%	3.34%	3.90%	6.13%	1.45%	2.33%	2.14%	1.74%	1.92%	2.08%
DISVX DFA International Small Cap Value Portfolio Institutional Class	6.49%	7.17%	4.56%	3.87%	2.40%	3.51%	1.84%	3.97%	5.91%	3.77%	5.85%	3.51%

Frequently Asked Questions

Can I hold both DISVX and DFEMX in my portfolio?

DISVX and DFEMX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DISVX or DFEMX?

DFEMX has higher volatility (9.32%) compared to DISVX (4.95%). In terms of maximum drawdown, DISVX dropped -61.57% vs DFEMX's -62.43%.

Which has better risk-adjusted returns?

DISVX currently has the higher Sharpe Ratio (2.12 vs 1.68), 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.