IEF vs. DFEQX
IEF (iShares 7-10 Year Treasury Bond ETF) and DFEQX (DFA Short-Term Extended Quality Portfolio) are both funds - IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while DFEQX is a Short-Term Bond fund managed by Dimensional. Over the past 10 years, IEF returned 0.59%/yr vs 1.93%/yr for DFEQX. A 0.66 correlation means they provide meaningful diversification when combined. IEF charges 0.15%/yr vs 0.19%/yr for DFEQX.
Performance
IEF vs. DFEQX - Performance Comparison
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Returns By Period
In the year-to-date period, IEF achieves a -0.47% return, which is significantly lower than DFEQX's 1.50% return. Over the past 10 years, IEF has underperformed DFEQX with an annualized return of 0.59%, while DFEQX has yielded a comparatively higher 1.93% annualized return.
IEF
- 1D
- -0.17%
- 1M
- 0.25%
- YTD
- -0.47%
- 6M
- -0.18%
- 1Y
- 3.78%
- 3Y*
- 2.86%
- 5Y*
- -1.24%
- 10Y*
- 0.59%
DFEQX
- 1D
- 0.19%
- 1M
- 0.62%
- YTD
- 1.50%
- 6M
- 1.79%
- 1Y
- 3.70%
- 3Y*
- 4.87%
- 5Y*
- 2.03%
- 10Y*
- 1.93%
IEF vs. DFEQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | -0.47% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
DFEQX DFA Short-Term Extended Quality Portfolio | 1.50% | 4.27% | 5.50% | 5.44% | -5.18% | -0.60% | 2.24% | 4.51% | 1.34% | 1.51% |
Correlation
The correlation between IEF and DFEQX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.66 |
The correlation between IEF and DFEQX shifts across timeframes, from 0.37 (3 years) to 0.66 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEF vs. DFEQX — Risk / Return Rank
IEF
DFEQX
IEF vs. DFEQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) and DFA Short-Term Extended Quality Portfolio (DFEQX). 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.
| IEF | DFEQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.80 | ||
| Sortino ratioReturn per unit of downside risk | -4.54 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 2.08 | -0.96 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 5.07 | -4.24 |
| Martin ratioReturn relative to average drawdown | 2.35 | 21.16 | -18.81 |
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Drawdowns
IEF vs. DFEQX - Drawdown Comparison
The maximum IEF drawdown since its inception was -23.93%, which is greater than DFEQX's maximum drawdown of -8.40%. Use the drawdown chart below to compare losses from any high point for IEF and DFEQX.
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Drawdown Indicators
| IEF | DFEQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -8.40% | -15.53% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -0.76% | -3.31% |
Max Drawdown (3Y)Largest decline over 3 years | -7.74% | -1.16% | -6.58% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -8.40% | -13.00% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | -8.40% | -15.53% |
Current DrawdownCurrent decline from peak | -11.18% | 0.00% | -11.18% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -0.95% | -4.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 0.18% | +1.27% |
Volatility
IEF vs. DFEQX - Volatility Comparison
iShares 7-10 Year Treasury Bond ETF (IEF) has a higher volatility of 1.62% compared to DFA Short-Term Extended Quality Portfolio (DFEQX) at 0.46%. This indicates that IEF's price experiences larger fluctuations and is considered to be riskier than DFEQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEF | DFEQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 0.46% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 0.91% | +2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 1.10% | +3.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 2.08% | +5.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.63% | 1.69% | +4.94% |
IEF vs. DFEQX - Expense Ratio Comparison
IEF has a 0.15% expense ratio, which is lower than DFEQX's 0.19% 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
IEF vs. DFEQX - Dividend Comparison
IEF's dividend yield for the trailing twelve months is around 3.89%, less than DFEQX's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFEQX DFA Short-Term Extended Quality Portfolio | 4.12% | 3.62% | 4.40% | 3.34% | 1.78% | 1.05% | 0.47% | 2.18% | 3.14% | 1.51% | 1.59% | 1.72% |
IEF iShares 7-10 Year Treasury Bond ETF | 3.89% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
Frequently Asked Questions
IEF and DFEQX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEF has higher volatility (1.62%) compared to DFEQX (0.46%). In terms of maximum drawdown, IEF dropped -23.93% vs DFEQX's -8.40%.
DFEQX currently has the higher Sharpe Ratio (3.53 vs 0.72), 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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