IWM vs. DFALX
IWM (iShares Russell 2000 ETF) and DFALX (DFA Large Cap International Portfolio) are both funds - IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index, while DFALX is a Foreign Large Cap Equities fund managed by Dimensional. Over the past 10 years, IWM returned 11.27%/yr vs 10.35%/yr for DFALX. A 0.68 correlation means they provide meaningful diversification when combined. IWM charges 0.19%/yr vs 0.18%/yr for DFALX.
Performance
IWM vs. DFALX - Performance Comparison
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Returns By Period
In the year-to-date period, IWM achieves a 19.22% return, which is significantly higher than DFALX's 10.02% return. Over the past 10 years, IWM has outperformed DFALX with an annualized return of 11.27%, while DFALX has yielded a comparatively lower 10.35% annualized return.
IWM
- 1D
- 0.87%
- 1M
- 2.99%
- YTD
- 19.22%
- 6M
- 16.00%
- 1Y
- 41.75%
- 3Y*
- 17.23%
- 5Y*
- 6.07%
- 10Y*
- 11.27%
DFALX
- 1D
- 2.73%
- 1M
- 0.45%
- YTD
- 10.02%
- 6M
- 11.54%
- 1Y
- 25.05%
- 3Y*
- 18.07%
- 5Y*
- 9.39%
- 10Y*
- 10.35%
IWM vs. DFALX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 19.22% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
DFALX DFA Large Cap International Portfolio | 10.02% | 33.60% | 4.55% | 17.88% | -13.04% | 12.79% | 8.13% | 22.05% | -14.15% | 25.35% |
Correlation
The correlation between IWM and DFALX is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.68 |
The correlation between IWM and DFALX has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
IWM vs. DFALX — Risk / Return Rank
IWM
DFALX
IWM vs. DFALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and DFA Large Cap International Portfolio (DFALX). 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.
| IWM | DFALX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.30 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 2.32 | +1.25 |
| Martin ratioReturn relative to average drawdown | 12.63 | 8.96 | +3.66 |
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Drawdowns
IWM vs. DFALX - Drawdown Comparison
The maximum IWM drawdown since its inception was -59.05%, roughly equal to the maximum DFALX drawdown of -59.76%. Use the drawdown chart below to compare losses from any high point for IWM and DFALX.
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Drawdown Indicators
| IWM | DFALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -59.76% | +0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -10.70% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -27.50% | -13.11% | -14.39% |
Max Drawdown (5Y)Largest decline over 5 years | -31.91% | -27.52% | -4.39% |
Max Drawdown (10Y)Largest decline over 10 years | -41.13% | -35.58% | -5.55% |
Current DrawdownCurrent decline from peak | 0.00% | -0.81% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -12.00% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 2.76% | +0.36% |
Volatility
IWM vs. DFALX - Volatility Comparison
iShares Russell 2000 ETF (IWM) has a higher volatility of 7.16% compared to DFA Large Cap International Portfolio (DFALX) at 4.92%. This indicates that IWM's price experiences larger fluctuations and is considered to be riskier than DFALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWM | DFALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 4.92% | +2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 14.29% | 12.05% | +2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 14.60% | +5.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.61% | 15.77% | +6.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.08% | 16.19% | +6.89% |
IWM vs. DFALX - Expense Ratio Comparison
IWM has a 0.19% expense ratio, which is higher than DFALX's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IWM vs. DFALX - Dividend Comparison
IWM's dividend yield for the trailing twelve months is around 0.87%, less than DFALX's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFALX DFA Large Cap International Portfolio | 2.75% | 2.89% | 3.18% | 3.24% | 2.86% | 3.00% | 1.88% | 2.88% | 3.07% | 2.55% | 2.89% | 2.94% |
IWM iShares Russell 2000 ETF | 0.87% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Frequently Asked Questions
IWM and DFALX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWM has higher volatility (7.16%) compared to DFALX (4.92%). In terms of maximum drawdown, IWM dropped -59.05% vs DFALX's -59.76%.
IWM currently has the higher Sharpe Ratio (1.99 vs 1.70), 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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