JDESX vs. DFIEX

Last updated Jun 26, 2026

JDESX (JPMorgan U.S. Research Enhanced Equity Fund) and DFIEX (DFA International Core Equity Portfolio I) are both mutual funds - JDESX is a Large Cap Blend Equities fund managed by JPMorgan, while DFIEX is a Foreign Large Cap Equities fund managed by Dimensional. Over the past 10 years, JDESX returned 16.22%/yr vs 10.46%/yr for DFIEX. A 0.79 correlation means they provide meaningful diversification when combined. JDESX charges 0.35%/yr vs 0.24%/yr for DFIEX.

Performance

JDESX vs. DFIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Research Enhanced Equity Fund (JDESX) and DFA International Core Equity Portfolio I (DFIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JDESX achieves a 5.92% return, which is significantly lower than DFIEX's 8.28% return. Over the past 10 years, JDESX has outperformed DFIEX with an annualized return of 16.22%, while DFIEX has yielded a comparatively lower 10.46% annualized return.

JDESX

• 1D: -0.04%
• 1M: -2.16%
• YTD: 5.92%
• 6M: 4.63%
• 1Y: 19.18%
• 3Y*: 21.54%
• 5Y*: 13.77%
• 10Y*: 16.22%

DFIEX

• 1D: -0.36%
• 1M: -2.71%
• YTD: 8.28%
• 6M: 7.80%
• 1Y: 24.05%
• 3Y*: 18.81%
• 5Y*: 9.38%
• 10Y*: 10.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JDESX vs. DFIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JDESX JPMorgan U.S. Research Enhanced Equity Fund	5.92%	16.33%	31.02%	28.23%	-18.15%	30.35%	20.65%	31.16%	-5.53%	21.49%
DFIEX DFA International Core Equity Portfolio I	8.28%	36.18%	3.99%	17.50%	-13.51%	13.85%	7.73%	21.70%	-17.41%	28.04%

Correlation

The correlation between JDESX and DFIEX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Sep 16, 2005	0.79

The correlation between JDESX and DFIEX has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.

Return for Risk

JDESX vs. DFIEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JDESX

JDESX Risk / Return Rank: 43
JDESX Sharpe Ratio Rank: 42
JDESX Sortino Ratio Rank: 38
JDESX Omega Ratio Rank: 42
JDESX Calmar Ratio Rank: 40
JDESX Martin Ratio Rank: 53

DFIEX

DFIEX Risk / Return Rank: 44
DFIEX Sharpe Ratio Rank: 46
DFIEX Sortino Ratio Rank: 45
DFIEX Omega Ratio Rank: 44
DFIEX Calmar Ratio Rank: 42
DFIEX Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JDESX vs. DFIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Research Enhanced Equity Fund (JDESX) and DFA International Core Equity Portfolio I (DFIEX). 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.

	JDESX	DFIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.67	-0.10
Sortino ratio: Return per unit of downside risk	2.17	2.35	-0.18
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	2.09	2.17	-0.08
Martin ratio: Return relative to average drawdown	9.27	8.40	+0.87

JDESX vs. DFIEX - Sharpe Ratio Comparison

The current JDESX Sharpe Ratio is 1.57, which is comparable to the DFIEX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of JDESX and DFIEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JDESX vs. DFIEX - Drawdown Comparison

The maximum JDESX drawdown since its inception was -54.56%, smaller than the maximum DFIEX drawdown of -62.22%. Use the drawdown chart below to compare losses from any high point for JDESX and DFIEX.

Drawdown Indicators

	JDESX	DFIEX	Difference
Max Drawdown Largest peak-to-trough decline	-54.56%	-62.22%	+7.66%
Max Drawdown (1Y) Largest decline over 1 year	-9.22%	-11.01%	+1.79%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-12.81%	-6.04%
Max Drawdown (5Y) Largest decline over 5 years	-31.30%	-28.66%	-2.64%
Max Drawdown (10Y) Largest decline over 10 years	-34.71%	-41.04%	+6.33%
Current Drawdown Current decline from peak	-3.25%	-2.83%	-0.42%
Average Drawdown Average peak-to-trough decline	-11.89%	-12.14%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.83%	-0.76%

Volatility

JDESX vs. DFIEX - Volatility Comparison

JPMorgan U.S. Research Enhanced Equity Fund (JDESX) and DFA International Core Equity Portfolio I (DFIEX) have volatilities of 4.80% and 4.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JDESX	DFIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	4.86%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	11.89%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	12.34%	14.36%	-2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.88%	15.82%	+3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.75%	16.17%	+3.58%

JDESX vs. DFIEX - Expense Ratio Comparison

JDESX has a 0.35% expense ratio, which is higher than DFIEX's 0.24% expense ratio.

Dividends

JDESX vs. DFIEX - Dividend Comparison

JDESX's dividend yield for the trailing twelve months is around 5.03%, more than DFIEX's 2.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIEX DFA International Core Equity Portfolio I	2.98%	3.22%	3.42%	3.36%	2.88%	2.98%	1.77%	2.90%	2.95%	2.49%	2.76%	4.20%
JDESX JPMorgan U.S. Research Enhanced Equity Fund	5.03%	5.33%	11.20%	1.23%	2.79%	12.94%	3.89%	11.29%	14.15%	1.39%	1.40%	5.56%

Frequently Asked Questions

Can I hold both JDESX and DFIEX in my portfolio?

JDESX and DFIEX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JDESX or DFIEX?

DFIEX has higher volatility (4.86%) compared to JDESX (4.80%). In terms of maximum drawdown, JDESX dropped -54.56% vs DFIEX's -62.22%.

Which has better risk-adjusted returns?

DFIEX currently has the higher Sharpe Ratio (1.67 vs 1.57), 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.