EFU vs. DFAI
EFU (ProShares UltraShort MSCI EAFE) and DFAI (Dimensional International Core Equity Market ETF) are both exchange-traded funds - EFU is a Leveraged Equities fund tracking the MSCI EAFE Index (-200%), while DFAI is a Foreign Large Cap Equities fund actively managed by Dimensional. EFU is passively managed, while DFAI is actively managed. Over the past 5 years, EFU returned -16.11%/yr vs 10.20%/yr for DFAI. At a correlation of -0.98, they often move in opposite directions. EFU charges 0.95%/yr vs 0.18%/yr for DFAI.
Performance
EFU vs. DFAI - Performance Comparison
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Returns By Period
In the year-to-date period, EFU achieves a -18.17% return, which is significantly lower than DFAI's 10.53% return.
EFU
- 1D
- -1.43%
- 1M
- -0.81%
- 6M
- -13.34%
- YTD
- -18.17%
- 1Y
- -30.27%
- 3Y*
- -22.87%
- 5Y*
- -16.11%
- 10Y*
- -19.56%
DFAI
- 1D
- 0.73%
- 1M
- 0.44%
- 6M
- 7.27%
- YTD
- 10.53%
- 1Y
- 23.29%
- 3Y*
- 17.21%
- 5Y*
- 10.20%
- 10Y*
- —
EFU vs. DFAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | -18.17% | -41.07% | -1.04% | -25.36% | 24.26% | -24.58% | -10.53% |
DFAI Dimensional International Core Equity Market ETF | 10.53% | 34.04% | 4.68% | 17.60% | -12.95% | 13.86% | 5.34% |
Correlation
The correlation between EFU and DFAI is -0.97, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020 | -0.98 |
The correlation between EFU and DFAI has been stable across timeframes, ranging from -0.98 to -0.97 - a consistent structural relationship.
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Return for Risk
EFU vs. DFAI — Risk / Return Rank
EFU
DFAI
EFU vs. DFAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI EAFE (EFU) and Dimensional International Core Equity Market ETF (DFAI). 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.
| EFU | DFAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.54 | ||
| Sortino ratioReturn per unit of downside risk | -3.55 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.29 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 2.14 | -3.00 |
| Martin ratioReturn relative to average drawdown | -1.40 | 8.29 | -9.69 |
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Drawdowns
EFU vs. DFAI - Drawdown Comparison
The maximum EFU drawdown since its inception was -99.38%, which is greater than DFAI's maximum drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for EFU and DFAI.
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Drawdown Indicators
| EFU | DFAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.38% | -27.44% | -71.94% |
Max Drawdown (1Y)Largest decline over 1 year | -35.10% | -10.95% | -24.15% |
Max Drawdown (3Y)Largest decline over 3 years | -65.34% | -13.25% | -52.09% |
Max Drawdown (5Y)Largest decline over 5 years | -76.14% | -27.44% | -48.70% |
Max Drawdown (10Y)Largest decline over 10 years | -89.28% | — | — |
Current DrawdownCurrent decline from peak | -99.36% | -1.00% | -98.36% |
Average DrawdownAverage peak-to-trough decline | -87.18% | -5.05% | -82.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.71% | 2.82% | +18.89% |
Volatility
EFU vs. DFAI - Volatility Comparison
ProShares UltraShort MSCI EAFE (EFU) has a higher volatility of 8.27% compared to Dimensional International Core Equity Market ETF (DFAI) at 3.40%. This indicates that EFU's price experiences larger fluctuations and is considered to be riskier than DFAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFU | DFAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.27% | 3.40% | +4.87% |
Volatility (6M)Calculated over the trailing 6-month period | 28.47% | 12.50% | +15.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.55% | 14.59% | +17.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.63% | 15.99% | +17.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.57% | 15.70% | +17.87% |
EFU vs. DFAI - Expense Ratio Comparison
EFU has a 0.95% expense ratio, which is higher than DFAI's 0.18% expense ratio.
Dividends
EFU vs. DFAI - Dividend Comparison
EFU's dividend yield for the trailing twelve months is around 5.01%, more than DFAI's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DFAI Dimensional International Core Equity Market ETF | 2.33% | 2.45% | 2.72% | 2.64% | 2.72% | 2.06% | 0.09% | 0.00% | 0.00% |
EFU ProShares UltraShort MSCI EAFE | 5.01% | 5.57% | 3.87% | 6.41% | 1.47% | 0.00% | 0.06% | 0.95% | 0.17% |
Frequently Asked Questions
EFU and DFAI have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFU has higher volatility (8.27%) compared to DFAI (3.40%). In terms of maximum drawdown, EFU dropped -99.38% vs DFAI's -27.44%.
On 5-year performance, DFAI leads with 10.20% vs -16.11% for EFU. On fees, DFAI is cheaper at 0.18% per year. On volatility, DFAI has been the lower-risk option at 3.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DFAI has performed better with a 10.20% return vs -16.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFAI is cheaper with a 0.18% expense ratio, compared with 0.95% for EFU.
EFU has the higher dividend yield at 5.01%, compared with 2.33% for DFAI.
EFU is categorized as Leveraged Equities, while DFAI is Foreign Large Cap Equities. They also come from different issuers: ProShares and Dimensional. Their fees differ too: 0.95% for EFU and 0.18% for DFAI.
DFAI currently has the higher Sharpe Ratio (1.60 vs -0.93), 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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