IWM vs. DFEQX
IWM (iShares Russell 2000 ETF) and DFEQX (DFA Short-Term Extended Quality Portfolio) are both funds - IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index, while DFEQX is a Short-Term Bond fund managed by Dimensional. Over the past 10 years, IWM returned 11.27%/yr vs 1.93%/yr for DFEQX. At a correlation of -0.05, they often move in opposite directions. Both charge a 0.19% expense ratio.
Performance
IWM vs. DFEQX - 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 DFEQX's 1.50% return. Over the past 10 years, IWM has outperformed DFEQX with an annualized return of 11.27%, while DFEQX has yielded a comparatively lower 1.93% 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%
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%
IWM vs. DFEQX - 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% |
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 IWM and DFEQX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | -0.05 |
The correlation between IWM and DFEQX shifts across timeframes, from -0.05 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IWM vs. DFEQX — Risk / Return Rank
IWM
DFEQX
IWM vs. DFEQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) 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.
| IWM | DFEQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 2.08 | -0.75 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 5.07 | -1.51 |
| Martin ratioReturn relative to average drawdown | 12.63 | 21.16 | -8.53 |
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Drawdowns
IWM vs. DFEQX - Drawdown Comparison
The maximum IWM drawdown since its inception was -59.05%, which is greater than DFEQX's maximum drawdown of -8.40%. Use the drawdown chart below to compare losses from any high point for IWM and DFEQX.
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Drawdown Indicators
| IWM | DFEQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -8.40% | -50.65% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -0.76% | -10.27% |
Max Drawdown (3Y)Largest decline over 3 years | -27.50% | -1.16% | -26.34% |
Max Drawdown (5Y)Largest decline over 5 years | -31.91% | -8.40% | -23.51% |
Max Drawdown (10Y)Largest decline over 10 years | -41.13% | -8.40% | -32.73% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -0.95% | -9.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 0.18% | +2.94% |
Volatility
IWM vs. DFEQX - Volatility Comparison
iShares Russell 2000 ETF (IWM) has a higher volatility of 7.16% compared to DFA Short-Term Extended Quality Portfolio (DFEQX) at 0.46%. This indicates that IWM'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
| IWM | DFEQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 0.46% | +6.70% |
Volatility (6M)Calculated over the trailing 6-month period | 14.29% | 0.91% | +13.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 1.10% | +18.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.61% | 2.08% | +20.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.08% | 1.69% | +21.39% |
IWM vs. DFEQX - Expense Ratio Comparison
Both IWM and DFEQX have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IWM vs. DFEQX - Dividend Comparison
IWM's dividend yield for the trailing twelve months is around 0.87%, 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% |
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 DFEQX have a correlation of 0.38, 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 DFEQX (0.46%). In terms of maximum drawdown, IWM dropped -59.05% vs DFEQX's -8.40%.
DFEQX currently has the higher Sharpe Ratio (3.53 vs 1.99), 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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