LMGNX vs. DFAI

Last updated Jun 4, 2026

LMGNX (ClearBridge International Growth Fund Class I) and DFAI (Dimensional International Core Equity Market ETF) are both funds - LMGNX is a Large Cap Growth Equities fund managed by Franklin Templeton, while DFAI is a Global Equities fund actively managed by Dimensional. Over the past 5 years, LMGNX returned 5.04%/yr vs 9.36%/yr for DFAI. Their correlation of 0.91 suggests significant overlap in exposure. LMGNX charges 0.78%/yr vs 0.18%/yr for DFAI.

Performance

LMGNX vs. DFAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearBridge International Growth Fund Class I (LMGNX) 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, LMGNX achieves a 6.45% return, which is significantly lower than DFAI's 9.16% return.

LMGNX

• 1D: 0.65%
• 1M: 5.33%
• YTD: 6.45%
• 6M: 6.90%
• 1Y: 13.69%
• 3Y*: 13.42%
• 5Y*: 5.04%
• 10Y*: 10.15%

DFAI

• 1D: -0.84%
• 1M: 2.67%
• YTD: 9.16%
• 6M: 11.79%
• 1Y: 24.65%
• 3Y*: 18.12%
• 5Y*: 9.36%
• 10Y*: —

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

LMGNX vs. DFAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LMGNX ClearBridge International Growth Fund Class I	6.45%	23.05%	7.48%	14.30%	-21.16%	3.99%	9.95%
DFAI Dimensional International Core Equity Market ETF	9.16%	34.04%	4.68%	17.60%	-12.95%	13.86%	6.13%

Correlation

The correlation between LMGNX and DFAI is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Nov 19, 2020	0.91

The correlation between LMGNX and DFAI has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

LMGNX vs. DFAI — Risk / Return Rank

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

LMGNX

LMGNX Risk / Return Rank: 10
LMGNX Sharpe Ratio Rank: 9
LMGNX Sortino Ratio Rank: 9
LMGNX Omega Ratio Rank: 9
LMGNX Calmar Ratio Rank: 10
LMGNX Martin Ratio Rank: 12

DFAI

DFAI Risk / Return Rank: 49
DFAI Sharpe Ratio Rank: 50
DFAI Sortino Ratio Rank: 50
DFAI Omega Ratio Rank: 50
DFAI Calmar Ratio Rank: 45
DFAI Martin Ratio Rank: 52

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.

LMGNX vs. DFAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearBridge International Growth Fund Class I (LMGNX) 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.

	LMGNX	DFAI	Difference
Sharpe ratio Return per unit of total volatility	0.74	1.76	-1.03
Sortino ratio Return per unit of downside risk	1.14	2.49	-1.35
Omega ratio Gain probability vs. loss probability	1.14	1.32	-0.18
Calmar ratio Return relative to maximum drawdown	0.95	2.26	-1.31
Martin ratio Return relative to average drawdown	3.47	8.87	-5.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LMGNX vs. DFAI - Sharpe Ratio Comparison

The current LMGNX Sharpe Ratio is 0.74, which is lower than the DFAI Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of LMGNX 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

	LMGNX	DFAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	1.76	-1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.59	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.78	-0.46

Drawdowns

LMGNX vs. DFAI - Drawdown Comparison

The maximum LMGNX drawdown since its inception was -71.13%, which is greater than DFAI's maximum drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for LMGNX and DFAI.

Drawdown Indicators

	LMGNX	DFAI	Difference
Max Drawdown Largest peak-to-trough decline	-71.13%	-27.44%	-43.69%
Max Drawdown (1Y) Largest decline over 1 year	-13.62%	-10.95%	-2.67%
Max Drawdown (3Y) Largest decline over 3 years	-14.43%	-13.25%	-1.18%
Max Drawdown (5Y) Largest decline over 5 years	-34.96%	-27.44%	-7.52%
Max Drawdown (10Y) Largest decline over 10 years	-34.96%	—	—
Current Drawdown Current decline from peak	-0.64%	-1.61%	+0.97%
Average Drawdown Average peak-to-trough decline	-15.47%	-5.12%	-10.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	2.79%	+0.95%

Volatility

LMGNX vs. DFAI - Volatility Comparison

ClearBridge International Growth Fund Class I (LMGNX) has a higher volatility of 6.35% compared to Dimensional International Core Equity Market ETF (DFAI) at 4.45%. This indicates that LMGNX'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

	LMGNX	DFAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.35%	4.45%	+1.90%
Volatility (6M) Calculated over the trailing 6-month period	14.84%	11.68%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	17.67%	14.08%	+3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.72%	15.92%	+1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.37%	15.70%	+1.67%

LMGNX vs. DFAI - Expense Ratio Comparison

LMGNX has a 0.78% expense ratio, which is higher than DFAI's 0.18% expense ratio.

Dividends

LMGNX vs. DFAI - Dividend Comparison

LMGNX's dividend yield for the trailing twelve months is around 6.88%, more than DFAI's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DFAI Dimensional International Core Equity Market ETF	2.26%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%	0.00%	0.00%	0.00%	0.00%
LMGNX ClearBridge International Growth Fund Class I	6.88%	7.33%	1.38%	1.28%	0.81%	2.28%	0.16%	0.31%	0.24%	0.21%	0.56%

Frequently Asked Questions

Can I hold both LMGNX and DFAI in my portfolio?

With a correlation of 0.90, LMGNX 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, LMGNX or DFAI?

LMGNX has higher volatility (6.35%) compared to DFAI (4.45%). In terms of maximum drawdown, LMGNX dropped -71.13% vs DFAI's -27.44%.

Which has better risk-adjusted returns?

DFAI currently has the higher Sharpe Ratio (1.76 vs 0.74), 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.