IEFA vs. DFISX
IEFA (iShares Core MSCI EAFE ETF) and DFISX (DFA International Small Company Portfolio) are both funds - IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net), while DFISX is a Foreign Small & Mid Cap Equities fund managed by Dimensional. Over the past 10 years, IEFA returned 9.37%/yr vs 7.92%/yr for DFISX. Their correlation of 0.92 suggests significant overlap in exposure. IEFA charges 0.07%/yr vs 0.39%/yr for DFISX.
Performance
IEFA vs. DFISX - Performance Comparison
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Returns By Period
In the year-to-date period, IEFA achieves a 7.49% return, which is significantly higher than DFISX's 6.48% return. Over the past 10 years, IEFA has outperformed DFISX with an annualized return of 9.37%, while DFISX has yielded a comparatively lower 7.92% annualized return.
IEFA
- 1D
- 0.63%
- 1M
- -1.17%
- YTD
- 7.49%
- 6M
- 10.04%
- 1Y
- 19.61%
- 3Y*
- 16.13%
- 5Y*
- 7.82%
- 10Y*
- 9.37%
DFISX
- 1D
- -2.33%
- 1M
- -2.44%
- YTD
- 6.48%
- 6M
- 9.54%
- 1Y
- 21.99%
- 3Y*
- 17.56%
- 5Y*
- 6.48%
- 10Y*
- 7.92%
IEFA vs. DFISX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEFA iShares Core MSCI EAFE ETF | 7.49% | 32.08% | 3.26% | 17.95% | -15.24% | 11.63% | 8.18% | 22.64% | -14.14% | 26.57% |
DFISX DFA International Small Company Portfolio | 6.48% | 36.35% | 3.76% | 14.46% | -17.13% | 10.71% | 9.27% | 24.18% | -19.42% | 24.78% |
Correlation
The correlation between IEFA and DFISX is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012 | 0.92 |
The correlation between IEFA and DFISX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
IEFA vs. DFISX — Risk / Return Rank
IEFA
DFISX
IEFA vs. DFISX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and DFA International Small Company Portfolio (DFISX). 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.
| IEFA | DFISX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.29 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.85 | -0.14 |
| Martin ratioReturn relative to average drawdown | 6.52 | 6.79 | -0.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEFA | DFISX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.59 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.41 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.49 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.46 | +0.04 |
Drawdowns
IEFA vs. DFISX - Drawdown Comparison
The maximum IEFA drawdown since its inception was -34.78%, smaller than the maximum DFISX drawdown of -60.66%. Use the drawdown chart below to compare losses from any high point for IEFA and DFISX.
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Drawdown Indicators
| IEFA | DFISX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.78% | -60.66% | +25.88% |
Max Drawdown (1Y)Largest decline over 1 year | -11.50% | -11.96% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -13.76% | -13.68% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -30.41% | -35.06% | +4.65% |
Max Drawdown (10Y)Largest decline over 10 years | -34.78% | -43.00% | +8.22% |
Current DrawdownCurrent decline from peak | -2.44% | -4.16% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -6.69% | -11.64% | +4.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 3.25% | -0.23% |
Volatility
IEFA vs. DFISX - Volatility Comparison
iShares Core MSCI EAFE ETF (IEFA) has a higher volatility of 4.54% compared to DFA International Small Company Portfolio (DFISX) at 3.95%. This indicates that IEFA's price experiences larger fluctuations and is considered to be riskier than DFISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFA | DFISX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 3.95% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 12.74% | 11.30% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.22% | 13.94% | +1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.55% | 15.92% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.32% | 16.21% | +1.11% |
IEFA vs. DFISX - Expense Ratio Comparison
IEFA has a 0.07% expense ratio, which is lower than DFISX's 0.39% expense ratio.
Dividends
IEFA vs. DFISX - Dividend Comparison
IEFA's dividend yield for the trailing twelve months is around 3.30%, more than DFISX's 2.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFISX DFA International Small Company Portfolio | 2.95% | 3.19% | 3.39% | 3.01% | 3.51% | 3.06% | 1.71% | 4.54% | 7.74% | 1.27% | 4.44% | 4.47% |
IEFA iShares Core MSCI EAFE ETF | 3.30% | 3.55% | 3.47% | 3.20% | 2.70% | 3.32% | 1.90% | 3.18% | 3.46% | 2.57% | 2.96% | 2.63% |
Frequently Asked Questions
With a correlation of 0.92, IEFA and DFISX 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.
IEFA has higher volatility (4.54%) compared to DFISX (3.95%). In terms of maximum drawdown, IEFA dropped -34.78% vs DFISX's -60.66%.
DFISX currently has the higher Sharpe Ratio (1.59 vs 1.30), 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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