DUSA vs. RAFE

Last updated Jul 14, 2026

DUSA (Davis Select U.S. Equity ETF) and RAFE (PIMCO RAFI ESG U.S. ETF) are both Large Cap Blend Equities funds. DUSA is actively managed, while RAFE is passively managed. Over the past 5 years, DUSA returned 11.84%/yr vs 11.46%/yr for RAFE. Their correlation of 0.85 suggests significant overlap in exposure. DUSA charges 0.62%/yr vs 0.30%/yr for RAFE.

Performance

DUSA vs. RAFE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davis Select U.S. Equity ETF (DUSA) and PIMCO RAFI ESG U.S. ETF (RAFE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DUSA achieves a 12.63% return, which is significantly lower than RAFE's 15.70% return.

DUSA

• 1D: 0.30%
• 1M: 2.51%
• 6M: 10.81%
• YTD: 12.63%
• 1Y: 24.31%
• 3Y*: 22.76%
• 5Y*: 11.84%
• 10Y*: —

RAFE

• 1D: -0.06%
• 1M: 1.59%
• 6M: 13.30%
• YTD: 15.70%
• 1Y: 28.06%
• 3Y*: 18.76%
• 5Y*: 11.46%
• 10Y*: —

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

DUSA vs. RAFE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DUSA Davis Select U.S. Equity ETF	12.63%	22.57%	20.43%	34.17%	-19.57%	17.71%	14.22%	0.40%
RAFE PIMCO RAFI ESG U.S. ETF	15.70%	17.60%	13.81%	18.80%	-13.76%	30.16%	5.29%	0.43%

Correlation

The correlation between DUSA and RAFE is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 19, 2019	0.85

The correlation between DUSA and RAFE has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.

Return for Risk

DUSA vs. RAFE — Risk / Return Rank

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

DUSA

DUSA Risk / Return Rank: 75
DUSA Sharpe Ratio Rank: 77
DUSA Sortino Ratio Rank: 74
DUSA Omega Ratio Rank: 73
DUSA Calmar Ratio Rank: 78
DUSA Martin Ratio Rank: 75

RAFE

RAFE Risk / Return Rank: 89
RAFE Sharpe Ratio Rank: 91
RAFE Sortino Ratio Rank: 91
RAFE Omega Ratio Rank: 89
RAFE Calmar Ratio Rank: 86
RAFE Martin Ratio Rank: 88

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.

DUSA vs. RAFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davis Select U.S. Equity ETF (DUSA) and PIMCO RAFI ESG U.S. ETF (RAFE). 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.

	DUSA	RAFE	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.49	-0.55
Sortino ratio: Return per unit of downside risk	2.66	3.48	-0.82
Omega ratio: Gain probability vs. loss probability	1.34	1.45	-0.11
Calmar ratio: Return relative to maximum drawdown	3.22	3.78	-0.56
Martin ratio: Return relative to average drawdown	11.09	14.72	-3.63

DUSA vs. RAFE - Sharpe Ratio Comparison

The current DUSA Sharpe Ratio is 1.94, which is comparable to the RAFE Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of DUSA and RAFE, 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

DUSA vs. RAFE - Drawdown Comparison

The maximum DUSA drawdown since its inception was -36.71%, roughly equal to the maximum RAFE drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for DUSA and RAFE.

Drawdown Indicators

	DUSA	RAFE	Difference
Max Drawdown Largest peak-to-trough decline	-36.71%	-35.74%	-0.97%
Max Drawdown (1Y) Largest decline over 1 year	-7.59%	-7.46%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	-16.36%	-0.46%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-24.28%	-6.20%
Current Drawdown Current decline from peak	0.00%	-0.06%	+0.06%
Average Drawdown Average peak-to-trough decline	-6.66%	-6.13%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	1.91%	+0.29%

Volatility

DUSA vs. RAFE - Volatility Comparison

Davis Select U.S. Equity ETF (DUSA) and PIMCO RAFI ESG U.S. ETF (RAFE) have volatilities of 2.73% and 2.78%, 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

	DUSA	RAFE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.73%	2.78%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	8.59%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	11.34%	+1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.59%	15.07%	+3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	19.33%	+0.44%

DUSA vs. RAFE - Expense Ratio Comparison

DUSA has a 0.62% expense ratio, which is higher than RAFE's 0.30% expense ratio.

Dividends

DUSA vs. RAFE - Dividend Comparison

DUSA's dividend yield for the trailing twelve months is around 0.85%, less than RAFE's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUSA Davis Select U.S. Equity ETF	0.85%	0.96%	0.85%	3.38%	1.21%	1.12%	0.51%	1.12%	2.77%	0.68%
RAFE PIMCO RAFI ESG U.S. ETF	1.49%	1.67%	1.79%	1.81%	2.22%	1.42%	2.36%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DUSA and RAFE in my portfolio?

DUSA and RAFE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUSA or RAFE?

RAFE has higher volatility (2.78%) compared to DUSA (2.73%). In terms of maximum drawdown, DUSA dropped -36.71% vs RAFE's -35.74%.

Which ETF is better, DUSA or RAFE?

On 5-year performance, DUSA leads with 11.84% vs 11.46% for RAFE. On fees, RAFE is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DUSA or RAFE?

Over the 5-year period, DUSA has performed better with a 11.84% return vs 11.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUSA or RAFE?

RAFE is cheaper with a 0.30% expense ratio, compared with 0.62% for DUSA.

Which ETF pays a higher dividend yield, DUSA or RAFE?

RAFE has the higher dividend yield at 1.49%, compared with 0.85% for DUSA.

What is the main difference between DUSA and RAFE?

They also come from different issuers: Davis Advisers and PIMCO. Their fees differ too: 0.62% for DUSA and 0.30% for RAFE.

Which has better risk-adjusted returns?

RAFE currently has the higher Sharpe Ratio (2.49 vs 1.94), 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.