DRIJX vs. VOO

Last updated Jun 3, 2026

DRIJX (Dimensional 2050 Target Date Retirement Income Fund) and VOO (Vanguard S&P 500 ETF) are both funds - DRIJX is a Target Retirement Date fund managed by Dimensional, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, DRIJX returned 12.56%/yr vs 15.65%/yr for VOO. With a 0.95 correlation, they move nearly in lockstep. DRIJX charges 0.22%/yr vs 0.03%/yr for VOO.

Performance

DRIJX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional 2050 Target Date Retirement Income Fund (DRIJX) and Vanguard S&P 500 ETF (VOO). 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 DRIJX having a 11.33% return and VOO slightly higher at 11.69%. Over the past 10 years, DRIJX has underperformed VOO with an annualized return of 12.56%, while VOO has yielded a comparatively higher 15.65% annualized return.

DRIJX

• 1D: 0.24%
• 1M: 3.96%
• YTD: 11.33%
• 6M: 12.47%
• 1Y: 27.37%
• 3Y*: 20.05%
• 5Y*: 11.52%
• 10Y*: 12.56%

VOO

• 1D: 0.14%
• 1M: 5.39%
• YTD: 11.69%
• 6M: 12.11%
• 1Y: 29.68%
• 3Y*: 22.73%
• 5Y*: 14.26%
• 10Y*: 15.65%

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

DRIJX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRIJX Dimensional 2050 Target Date Retirement Income Fund	11.33%	19.64%	17.05%	21.37%	-15.25%	21.63%	14.09%	25.59%	-9.14%	21.76%
VOO Vanguard S&P 500 ETF	11.69%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between DRIJX and VOO 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	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.95

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

Return for Risk

DRIJX vs. VOO — Risk / Return Rank

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

DRIJX

DRIJX Risk / Return Rank: 80
DRIJX Sharpe Ratio Rank: 85
DRIJX Sortino Ratio Rank: 83
DRIJX Omega Ratio Rank: 77
DRIJX Calmar Ratio Rank: 75
DRIJX Martin Ratio Rank: 82

VOO

VOO Risk / Return Rank: 75
VOO Sharpe Ratio Rank: 77
VOO Sortino Ratio Rank: 75
VOO Omega Ratio Rank: 76
VOO Calmar Ratio Rank: 68
VOO Martin Ratio Rank: 80

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.

DRIJX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional 2050 Target Date Retirement Income Fund (DRIJX) and Vanguard S&P 500 ETF (VOO). 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.

	DRIJX	VOO	Difference
Sharpe ratio Return per unit of total volatility	2.76	2.53	+0.23
Sortino ratio Return per unit of downside risk	3.90	3.43	+0.46
Omega ratio Gain probability vs. loss probability	1.51	1.46	+0.04
Calmar ratio Return relative to maximum drawdown	3.41	3.42	-0.01
Martin ratio Return relative to average drawdown	15.52	15.95	-0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRIJX vs. VOO - Sharpe Ratio Comparison

The current DRIJX Sharpe Ratio is 2.76, which is comparable to the VOO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of DRIJX and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DRIJX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.76	2.53	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.85	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.87	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.89	-0.08

Drawdowns

DRIJX vs. VOO - Drawdown Comparison

The maximum DRIJX drawdown since its inception was -33.55%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for DRIJX and VOO.

Drawdown Indicators

	DRIJX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-33.55%	-33.99%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-8.90%	+0.78%
Max Drawdown (3Y) Largest decline over 3 years	-15.25%	-18.69%	+3.44%
Max Drawdown (5Y) Largest decline over 5 years	-23.49%	-24.52%	+1.03%
Max Drawdown (10Y) Largest decline over 10 years	-33.55%	-33.99%	+0.44%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.19%	-3.69%	-0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	1.91%	-0.13%

Volatility

DRIJX vs. VOO - Volatility Comparison

Dimensional 2050 Target Date Retirement Income Fund (DRIJX) has a higher volatility of 2.92% compared to Vanguard S&P 500 ETF (VOO) at 2.74%. This indicates that DRIJX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRIJX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	2.74%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	8.23%	8.88%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	10.32%	11.78%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	16.81%	-2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.63%	18.01%	-2.38%

DRIJX vs. VOO - Expense Ratio Comparison

DRIJX has a 0.22% expense ratio, which is higher than VOO's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DRIJX vs. VOO - Dividend Comparison

DRIJX's dividend yield for the trailing twelve months is around 2.28%, more than VOO's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRIJX Dimensional 2050 Target Date Retirement Income Fund	2.28%	2.49%	2.53%	3.40%	3.98%	2.87%	4.15%	2.18%	2.29%	1.25%	1.40%	0.00%
VOO Vanguard S&P 500 ETF	1.02%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both DRIJX and VOO in my portfolio?

With a correlation of 0.94, DRIJX and VOO 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, DRIJX or VOO?

DRIJX has higher volatility (2.92%) compared to VOO (2.74%). In terms of maximum drawdown, DRIJX dropped -33.55% vs VOO's -33.99%.

Which has better risk-adjusted returns?

DRIJX currently has the higher Sharpe Ratio (2.76 vs 2.53), 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.