IUSB vs. DFCF
IUSB (iShares Core Universal USD Bond ETF) and DFCF (Dimensional Core Fixed Income ETF) are both exchange-traded funds - IUSB is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal Index, while DFCF is a Intermediate Core Bond fund actively managed by Dimensional. IUSB is passively managed, while DFCF is actively managed. Over the past 3 years, IUSB returned 4.51%/yr vs 4.79%/yr for DFCF. With a 0.96 correlation, they move nearly in lockstep. IUSB charges 0.06%/yr vs 0.17%/yr for DFCF.
Performance
IUSB vs. DFCF - Performance Comparison
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Returns By Period
In the year-to-date period, IUSB achieves a 0.43% return, which is significantly higher than DFCF's 0.37% return.
IUSB
- 1D
- -0.17%
- 1M
- 0.31%
- YTD
- 0.43%
- 6M
- 0.31%
- 1Y
- 5.54%
- 3Y*
- 4.51%
- 5Y*
- 0.44%
- 10Y*
- 1.94%
DFCF
- 1D
- -0.19%
- 1M
- 0.32%
- YTD
- 0.37%
- 6M
- 0.21%
- 1Y
- 5.78%
- 3Y*
- 4.79%
- 5Y*
- —
- 10Y*
- —
IUSB vs. DFCF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IUSB iShares Core Universal USD Bond ETF | 0.43% | 7.38% | 2.11% | 6.23% | -13.04% | 0.52% |
DFCF Dimensional Core Fixed Income ETF | 0.37% | 7.89% | 1.86% | 6.94% | -14.48% | 0.23% |
Correlation
The correlation between IUSB and DFCF is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021 | 0.96 |
The correlation between IUSB and DFCF has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
IUSB vs. DFCF — Risk / Return Rank
IUSB
DFCF
IUSB vs. DFCF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Universal USD Bond ETF (IUSB) and Dimensional Core Fixed Income ETF (DFCF). 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.
| IUSB | DFCF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 2.08 | +0.12 |
| Martin ratioReturn relative to average drawdown | 6.68 | 6.32 | +0.36 |
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
| IUSB | DFCF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.46 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.04 | +0.42 |
Drawdowns
IUSB vs. DFCF - Drawdown Comparison
The maximum IUSB drawdown since its inception was -17.90%, smaller than the maximum DFCF drawdown of -19.56%. Use the drawdown chart below to compare losses from any high point for IUSB and DFCF.
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Drawdown Indicators
| IUSB | DFCF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -19.56% | +1.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -2.79% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -5.82% | -5.05% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.90% | — | — |
Current DrawdownCurrent decline from peak | -1.33% | -1.46% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -3.59% | -8.04% | +4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.92% | -0.09% |
Volatility
IUSB vs. DFCF - Volatility Comparison
The current volatility for iShares Core Universal USD Bond ETF (IUSB) is 1.24%, while Dimensional Core Fixed Income ETF (DFCF) has a volatility of 1.36%. This indicates that IUSB experiences smaller price fluctuations and is considered to be less risky than DFCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSB | DFCF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.36% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 2.90% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 3.99% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 6.46% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 6.46% | -1.42% |
IUSB vs. DFCF - Expense Ratio Comparison
IUSB has a 0.06% expense ratio, which is lower than DFCF's 0.17% 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
IUSB vs. DFCF - Dividend Comparison
IUSB's dividend yield for the trailing twelve months is around 4.23%, less than DFCF's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFCF Dimensional Core Fixed Income ETF | 4.31% | 4.48% | 4.61% | 4.51% | 3.27% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IUSB iShares Core Universal USD Bond ETF | 4.23% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
Frequently Asked Questions
With a correlation of 0.98, IUSB and DFCF 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.
DFCF has higher volatility (1.36%) compared to IUSB (1.24%). In terms of maximum drawdown, IUSB dropped -17.90% vs DFCF's -19.56%.
On 3-year performance, DFCF leads with 4.79% vs 4.51% for IUSB. On fees, IUSB is cheaper at 0.06% per year. On volatility, IUSB has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DFCF has performed better with a 4.79% return vs 4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IUSB is cheaper with a 0.06% expense ratio, compared with 0.17% for DFCF.
DFCF has the higher dividend yield at 4.31%, compared with 4.23% for IUSB.
IUSB is categorized as Intermediate Core-Plus Bond, while DFCF is Intermediate Core Bond. They also come from different issuers: iShares and Dimensional. Their fees differ too: 0.06% for IUSB and 0.17% for DFCF.
IUSB currently has the higher Sharpe Ratio (1.54 vs 1.46), 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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