DRIIX vs. DGEIX
DRIIX (Dimensional 2045 Target Date Retirement Income Fund) and DGEIX (DFA Global Equity Portfolio Institutional Class) are both mutual funds - DRIIX is a Target Retirement Date fund managed by Dimensional, while DGEIX is a Global Equities fund managed by Dimensional. Over the past 10 years, DRIIX returned 11.78%/yr vs 12.51%/yr for DGEIX. With a 0.98 correlation, they move nearly in lockstep. DRIIX charges 0.22%/yr vs 0.25%/yr for DGEIX.
Performance
DRIIX vs. DGEIX - Performance Comparison
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Returns By Period
In the year-to-date period, DRIIX achieves a 10.06% return, which is significantly lower than DGEIX's 13.03% return. Over the past 10 years, DRIIX has underperformed DGEIX with an annualized return of 11.78%, while DGEIX has yielded a comparatively higher 12.51% annualized return.
DRIIX
- 1D
- 0.30%
- 1M
- 4.16%
- YTD
- 10.06%
- 6M
- 10.67%
- 1Y
- 23.61%
- 3Y*
- 17.83%
- 5Y*
- 10.41%
- 10Y*
- 11.78%
DGEIX
- 1D
- 0.47%
- 1M
- 4.90%
- YTD
- 13.03%
- 6M
- 13.93%
- 1Y
- 30.01%
- 3Y*
- 20.54%
- 5Y*
- 10.87%
- 10Y*
- 12.51%
DRIIX vs. DGEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIIX Dimensional 2045 Target Date Retirement Income Fund | 10.06% | 17.17% | 15.44% | 19.21% | -14.15% | 20.45% | 13.36% | 25.42% | -9.17% | 21.64% |
DGEIX DFA Global Equity Portfolio Institutional Class | 13.03% | 19.86% | 15.71% | 20.35% | -14.72% | 20.31% | 13.51% | 26.68% | -11.48% | 21.36% |
Correlation
The correlation between DRIIX and DGEIX is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.98 |
The correlation between DRIIX and DGEIX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
DRIIX vs. DGEIX — Risk / Return Rank
DRIIX
DGEIX
DRIIX vs. DGEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional 2045 Target Date Retirement Income Fund (DRIIX) and DFA Global Equity Portfolio Institutional Class (DGEIX). 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.
| DRIIX | DGEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.48 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.40 | 3.48 | -0.07 |
| Martin ratioReturn relative to average drawdown | 15.35 | 15.24 | +0.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DRIIX | DGEIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.71 | 2.62 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.70 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | 0.74 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.51 | +0.30 |
Drawdowns
DRIIX vs. DGEIX - Drawdown Comparison
The maximum DRIIX drawdown since its inception was -32.56%, smaller than the maximum DGEIX drawdown of -59.77%. Use the drawdown chart below to compare losses from any high point for DRIIX and DGEIX.
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Drawdown Indicators
| DRIIX | DGEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.56% | -59.77% | +27.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -8.85% | +1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -13.04% | -16.97% | +3.93% |
Max Drawdown (5Y)Largest decline over 5 years | -21.77% | -25.20% | +3.43% |
Max Drawdown (10Y)Largest decline over 10 years | -32.56% | -37.00% | +4.44% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -8.00% | +4.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 2.02% | -0.45% |
Volatility
DRIIX vs. DGEIX - Volatility Comparison
The current volatility for Dimensional 2045 Target Date Retirement Income Fund (DRIIX) is 2.66%, while DFA Global Equity Portfolio Institutional Class (DGEIX) has a volatility of 3.28%. This indicates that DRIIX experiences smaller price fluctuations and is considered to be less risky than DGEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIIX | DGEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 3.28% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 7.17% | 9.09% | -1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.97% | 11.75% | -2.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.86% | 15.66% | -2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.62% | 16.87% | -2.25% |
DRIIX vs. DGEIX - Expense Ratio Comparison
DRIIX has a 0.22% expense ratio, which is lower than DGEIX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DRIIX vs. DGEIX - Dividend Comparison
DRIIX's dividend yield for the trailing twelve months is around 2.67%, which matches DGEIX's 2.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGEIX DFA Global Equity Portfolio Institutional Class | 2.68% | 2.79% | 3.64% | 3.82% | 4.92% | 1.94% | 2.37% | 2.22% | 2.62% | 1.50% | 1.90% | 1.98% |
DRIIX Dimensional 2045 Target Date Retirement Income Fund | 2.67% | 2.89% | 3.25% | 3.43% | 3.90% | 3.23% | 2.92% | 2.19% | 2.29% | 1.23% | 1.39% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, DRIIX and DGEIX 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.
DGEIX has higher volatility (3.28%) compared to DRIIX (2.66%). In terms of maximum drawdown, DRIIX dropped -32.56% vs DGEIX's -59.77%.
DRIIX currently has the higher Sharpe Ratio (2.71 vs 2.62), 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.
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