JIRE vs. DFAI

Last updated Jun 3, 2026

JIRE (JPMorgan International Research Enhanced Equity ETF) and DFAI (Dimensional International Core Equity Market ETF) are both exchange-traded funds - JIRE is a Foreign Large Cap Equities fund actively managed by JPMorgan, while DFAI is a Global Equities fund actively managed by Dimensional. Both are actively managed. Over the past 3 years, JIRE returned 16.39%/yr vs 18.45%/yr for DFAI. With a 0.98 correlation, they move nearly in lockstep. JIRE charges 0.24%/yr vs 0.18%/yr for DFAI.

Performance

JIRE vs. DFAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan International Research Enhanced Equity ETF (JIRE) and Dimensional International Core Equity Market ETF (DFAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JIRE achieves a 8.61% return, which is significantly lower than DFAI's 10.08% return.

JIRE

• 1D: 0.59%
• 1M: 2.25%
• YTD: 8.61%
• 6M: 11.74%
• 1Y: 19.74%
• 3Y*: 16.39%
• 5Y*: —
• 10Y*: —

DFAI

• 1D: 0.70%
• 1M: 2.22%
• YTD: 10.08%
• 6M: 13.37%
• 1Y: 24.79%
• 3Y*: 18.45%
• 5Y*: 9.75%
• 10Y*: —

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

JIRE vs. DFAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JIRE JPMorgan International Research Enhanced Equity ETF	8.61%	31.83%	3.15%	20.00%	5.73%
DFAI Dimensional International Core Equity Market ETF	10.08%	34.04%	4.68%	17.60%	3.74%

Correlation

The correlation between JIRE and DFAI 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 Jun 14, 2022	0.98

The correlation between JIRE and DFAI has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

JIRE vs. DFAI - Sectors Allocation Comparison

Sectors	JIRE	DFAI
Financial Services	25.9%	22.5%
Industrials	18.8%	19.5%
Technology	11.3%	9.3%
Healthcare	10.4%	8.8%
Consumer Cyclical	8.0%	8.6%
Consumer Defensive	6.8%	6.4%
Basic Materials	5.3%	8.8%
Utilities	4.7%	4.0%
Communication Services	4.1%	3.7%
Energy	3.7%	6.8%
Real Estate	1.2%	1.5%

Return for Risk

JIRE vs. DFAI — Risk / Return Rank

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

JIRE

JIRE Risk / Return Rank: 36
JIRE Sharpe Ratio Rank: 35
JIRE Sortino Ratio Rank: 35
JIRE Omega Ratio Rank: 34
JIRE Calmar Ratio Rank: 36
JIRE Martin Ratio Rank: 41

DFAI

DFAI Risk / Return Rank: 51
DFAI Sharpe Ratio Rank: 51
DFAI Sortino Ratio Rank: 51
DFAI Omega Ratio Rank: 51
DFAI Calmar Ratio Rank: 48
DFAI Martin Ratio Rank: 54

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.

JIRE vs. DFAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Research Enhanced Equity ETF (JIRE) and Dimensional International Core Equity Market ETF (DFAI). 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.

	JIRE	DFAI	Difference
Sharpe ratio Return per unit of total volatility	1.28	1.77	-0.50
Sortino ratio Return per unit of downside risk	1.85	2.50	-0.65
Omega ratio Gain probability vs. loss probability	1.23	1.32	-0.09
Calmar ratio Return relative to maximum drawdown	1.80	2.39	-0.59
Martin ratio Return relative to average drawdown	6.57	9.42	-2.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JIRE vs. DFAI - Sharpe Ratio Comparison

The current JIRE Sharpe Ratio is 1.28, which is comparable to the DFAI Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of JIRE and DFAI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JIRE	DFAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	1.77	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.79	+0.26

Drawdowns

JIRE vs. DFAI - Drawdown Comparison

The maximum JIRE drawdown since its inception was -16.11%, smaller than the maximum DFAI drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for JIRE and DFAI.

Drawdown Indicators

	JIRE	DFAI	Difference
Max Drawdown Largest peak-to-trough decline	-16.11%	-27.44%	+11.33%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-10.95%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	-13.25%	-0.36%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.44%	—
Current Drawdown Current decline from peak	-1.72%	-0.78%	-0.94%
Average Drawdown Average peak-to-trough decline	-3.03%	-5.13%	+2.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	2.78%	+0.45%

Volatility

JIRE vs. DFAI - Volatility Comparison

JPMorgan International Research Enhanced Equity ETF (JIRE) has a higher volatility of 5.29% compared to Dimensional International Core Equity Market ETF (DFAI) at 4.57%. This indicates that JIRE's price experiences larger fluctuations and is considered to be riskier than DFAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JIRE	DFAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	4.57%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	12.78%	11.66%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	15.58%	14.08%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.29%	15.92%	+0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	15.70%	+0.59%

JIRE vs. DFAI - Expense Ratio Comparison

JIRE has a 0.24% expense ratio, which is higher than DFAI'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

JIRE vs. DFAI - Dividend Comparison

JIRE's dividend yield for the trailing twelve months is around 2.75%, more than DFAI's 2.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	2.24%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%
JIRE JPMorgan International Research Enhanced Equity ETF	2.75%	2.99%	3.03%	2.74%	2.62%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JIRE and DFAI in my portfolio?

With a correlation of 0.98, JIRE and DFAI 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.

Which is riskier, JIRE or DFAI?

JIRE has higher volatility (5.29%) compared to DFAI (4.57%). In terms of maximum drawdown, JIRE dropped -16.11% vs DFAI's -27.44%.

Which ETF is better, JIRE or DFAI?

On 3-year performance, DFAI leads with 18.45% vs 16.39% for JIRE. On fees, DFAI is cheaper at 0.18% per year. On volatility, DFAI has been the lower-risk option at 4.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JIRE or DFAI?

Over the 3-year period, DFAI has performed better with a 18.45% return vs 16.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JIRE or DFAI?

DFAI is cheaper with a 0.18% expense ratio, compared with 0.24% for JIRE.

Which ETF pays a higher dividend yield, JIRE or DFAI?

JIRE has the higher dividend yield at 2.75%, compared with 2.24% for DFAI.

What is the main difference between JIRE and DFAI?

JIRE is categorized as Foreign Large Cap Equities, while DFAI is Global Equities. They also come from different issuers: JPMorgan and Dimensional. Their fees differ too: 0.24% for JIRE and 0.18% for DFAI.

Which has better risk-adjusted returns?

DFAI currently has the higher Sharpe Ratio (1.77 vs 1.28), 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.