DSCGX vs. DFAS

Last updated Jun 4, 2026

DSCGX (DFA U.S. Small Cap Growth Portfolio) and DFAS (Dimensional U.S. Small Cap ETF) are both funds - DSCGX is a Small Cap Growth Equities fund managed by Dimensional, while DFAS is a Small Cap Blend Equities fund actively managed by Dimensional. Over the past 3 years, DSCGX returned 13.80%/yr vs 15.22%/yr for DFAS. With a 0.98 correlation, they move nearly in lockstep. DSCGX charges 0.32%/yr vs 0.34%/yr for DFAS.

Performance

DSCGX vs. DFAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA U.S. Small Cap Growth Portfolio (DSCGX) and Dimensional U.S. Small Cap ETF (DFAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSCGX achieves a 9.38% return, which is significantly lower than DFAS's 12.81% return.

DSCGX

• 1D: 0.27%
• 1M: 2.65%
• YTD: 9.38%
• 6M: 8.48%
• 1Y: 18.14%
• 3Y*: 13.80%
• 5Y*: 6.40%
• 10Y*: 10.53%

DFAS

• 1D: -0.81%
• 1M: 2.19%
• YTD: 12.81%
• 6M: 12.10%
• 1Y: 27.65%
• 3Y*: 15.22%
• 5Y*: —
• 10Y*: —

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

DSCGX vs. DFAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DSCGX DFA U.S. Small Cap Growth Portfolio	9.38%	5.94%	13.86%	21.25%	-17.79%	2.61%
DFAS Dimensional U.S. Small Cap ETF	12.81%	8.17%	10.21%	17.83%	-13.84%	4.94%

Correlation

The correlation between DSCGX and DFAS is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jun 15, 2021	0.98

The correlation between DSCGX and DFAS has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

DSCGX vs. DFAS — Risk / Return Rank

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

DSCGX

DSCGX Risk / Return Rank: 20
DSCGX Sharpe Ratio Rank: 17
DSCGX Sortino Ratio Rank: 19
DSCGX Omega Ratio Rank: 17
DSCGX Calmar Ratio Rank: 24
DSCGX Martin Ratio Rank: 26

DFAS

DFAS Risk / Return Rank: 51
DFAS Sharpe Ratio Rank: 47
DFAS Sortino Ratio Rank: 49
DFAS Omega Ratio Rank: 45
DFAS Calmar Ratio Rank: 59
DFAS Martin Ratio Rank: 57

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.

DSCGX vs. DFAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA U.S. Small Cap Growth Portfolio (DSCGX) and Dimensional U.S. Small Cap ETF (DFAS). 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.

	DSCGX	DFAS	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.66	-0.47
Sortino ratio: Return per unit of downside risk	1.83	2.46	-0.62
Omega ratio: Gain probability vs. loss probability	1.21	1.29	-0.08
Calmar ratio: Return relative to maximum drawdown	1.81	2.97	-1.16
Martin ratio: Return relative to average drawdown	6.30	10.17	-3.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DSCGX vs. DFAS - Sharpe Ratio Comparison

The current DSCGX Sharpe Ratio is 1.20, which is comparable to the DFAS Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of DSCGX and DFAS, 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

	DSCGX	DFAS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	1.66	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.36	+0.18

Drawdowns

DSCGX vs. DFAS - Drawdown Comparison

The maximum DSCGX drawdown since its inception was -41.44%, which is greater than DFAS's maximum drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for DSCGX and DFAS.

Drawdown Indicators

	DSCGX	DFAS	Difference
Max Drawdown Largest peak-to-trough decline	-41.44%	-26.13%	-15.31%
Max Drawdown (1Y) Largest decline over 1 year	-10.99%	-9.36%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	-26.13%	+1.67%
Max Drawdown (5Y) Largest decline over 5 years	-31.32%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.44%	—	—
Current Drawdown Current decline from peak	0.00%	-0.81%	+0.81%
Average Drawdown Average peak-to-trough decline	-7.21%	-8.31%	+1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	2.73%	+0.40%

Volatility

DSCGX vs. DFAS - Volatility Comparison

DFA U.S. Small Cap Growth Portfolio (DSCGX) and Dimensional U.S. Small Cap ETF (DFAS) have volatilities of 4.20% and 4.31%, 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

	DSCGX	DFAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	4.31%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	11.58%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	16.61%	16.77%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.41%	20.84%	-0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.78%	20.84%	+0.94%

DSCGX vs. DFAS - Expense Ratio Comparison

DSCGX has a 0.32% expense ratio, which is lower than DFAS's 0.34% expense ratio.

Dividends

DSCGX vs. DFAS - Dividend Comparison

DSCGX's dividend yield for the trailing twelve months is around 0.54%, less than DFAS's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAS Dimensional U.S. Small Cap ETF	0.92%	0.99%	0.93%	1.00%	1.03%	2.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DSCGX DFA U.S. Small Cap Growth Portfolio	0.54%	0.60%	0.62%	0.72%	4.08%	3.27%	0.58%	1.28%	5.44%	1.50%	1.12%	1.20%

Frequently Asked Questions

Can I hold both DSCGX and DFAS in my portfolio?

With a correlation of 0.97, DSCGX and DFAS 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, DSCGX or DFAS?

DFAS has higher volatility (4.31%) compared to DSCGX (4.20%). In terms of maximum drawdown, DSCGX dropped -41.44% vs DFAS's -26.13%.

Which has better risk-adjusted returns?

DFAS currently has the higher Sharpe Ratio (1.66 vs 1.20), 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.