MIEKX vs. DFCEX

Last updated Jun 23, 2026

MIEKX (MFS International Equity Fund Class R6) and DFCEX (DFA Emerging Markets Core Equity Fund) are both mutual funds - MIEKX is a International Equity fund actively managed by MFS, while DFCEX is a Emerging Markets Diversified fund managed by Dimensional. Over the past 3 years, MIEKX returned 10.76%/yr vs 21.58%/yr for DFCEX. A 0.65 correlation means they provide meaningful diversification when combined. MIEKX charges 0.73%/yr vs 0.40%/yr for DFCEX.

Performance

MIEKX vs. DFCEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS International Equity Fund Class R6 (MIEKX) and DFA Emerging Markets Core Equity Fund (DFCEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIEKX achieves a 3.06% return, which is significantly lower than DFCEX's 25.26% return.

MIEKX

• 1D: 0.36%
• 1M: 0.48%
• YTD: 3.06%
• 6M: 3.14%
• 1Y: 12.00%
• 3Y*: 10.76%
• 5Y*: —
• 10Y*: —

DFCEX

• 1D: 2.36%
• 1M: 5.61%
• YTD: 25.26%
• 6M: 26.65%
• 1Y: 47.24%
• 3Y*: 21.58%
• 5Y*: 9.99%
• 10Y*: 11.02%

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

MIEKX vs. DFCEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MIEKX MFS International Equity Fund Class R6	3.06%	23.12%	4.02%	5.55%
DFCEX DFA Emerging Markets Core Equity Fund	25.26%	28.79%	7.31%	9.85%

Correlation

The correlation between MIEKX and DFCEX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (All Time) Calculated using the full available price history since May 17, 2023	0.65

The correlation between MIEKX and DFCEX has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.

Return for Risk

MIEKX vs. DFCEX — Risk / Return Rank

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

MIEKX

MIEKX Risk / Return Rank: 11
MIEKX Sharpe Ratio Rank: 11
MIEKX Sortino Ratio Rank: 11
MIEKX Omega Ratio Rank: 11
MIEKX Calmar Ratio Rank: 11
MIEKX Martin Ratio Rank: 13

DFCEX

DFCEX Risk / Return Rank: 85
DFCEX Sharpe Ratio Rank: 90
DFCEX Sortino Ratio Rank: 81
DFCEX Omega Ratio Rank: 84
DFCEX Calmar Ratio Rank: 86
DFCEX Martin Ratio Rank: 84

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.

MIEKX vs. DFCEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS International Equity Fund Class R6 (MIEKX) and DFA Emerging Markets Core Equity Fund (DFCEX). 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.

	MIEKX	DFCEX	Difference
Sharpe ratio: Return per unit of total volatility	0.83	2.76	-1.92
Sortino ratio: Return per unit of downside risk	1.25	3.53	-2.28
Omega ratio: Gain probability vs. loss probability	1.15	1.53	-0.37
Calmar ratio: Return relative to maximum drawdown	0.98	3.85	-2.87
Martin ratio: Return relative to average drawdown	3.43	14.62	-11.19

MIEKX vs. DFCEX - Sharpe Ratio Comparison

The current MIEKX Sharpe Ratio is 0.83, which is lower than the DFCEX Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of MIEKX and DFCEX, 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

MIEKX vs. DFCEX - Drawdown Comparison

The maximum MIEKX drawdown since its inception was -13.42%, smaller than the maximum DFCEX drawdown of -64.58%. Use the drawdown chart below to compare losses from any high point for MIEKX and DFCEX.

Drawdown Indicators

	MIEKX	DFCEX	Difference
Max Drawdown Largest peak-to-trough decline	-13.42%	-64.58%	+51.16%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-12.12%	+0.82%
Max Drawdown (3Y) Largest decline over 3 years	-13.42%	-16.74%	+3.32%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.33%	—
Current Drawdown Current decline from peak	-1.67%	0.00%	-1.67%
Average Drawdown Average peak-to-trough decline	-2.83%	-12.59%	+9.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	3.18%	+0.04%

Volatility

MIEKX vs. DFCEX - Volatility Comparison

The current volatility for MFS International Equity Fund Class R6 (MIEKX) is 3.68%, while DFA Emerging Markets Core Equity Fund (DFCEX) has a volatility of 8.78%. This indicates that MIEKX experiences smaller price fluctuations and is considered to be less risky than DFCEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIEKX	DFCEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	8.78%	-5.10%
Volatility (6M) Calculated over the trailing 6-month period	10.61%	15.19%	-4.58%
Volatility (1Y) Calculated over the trailing 1-year period	13.31%	16.93%	-3.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.26%	15.09%	-1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.26%	16.08%	-2.82%

MIEKX vs. DFCEX - Expense Ratio Comparison

MIEKX has a 0.73% expense ratio, which is higher than DFCEX's 0.40% expense ratio.

Dividends

MIEKX vs. DFCEX - Dividend Comparison

MIEKX's dividend yield for the trailing twelve months is around 2.52%, more than DFCEX's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFCEX DFA Emerging Markets Core Equity Fund	2.35%	2.90%	3.43%	3.53%	3.78%	2.59%	1.70%	2.42%	2.33%	1.92%	1.99%	2.28%
MIEKX MFS International Equity Fund Class R6	2.52%	2.60%	1.41%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MIEKX and DFCEX in my portfolio?

MIEKX and DFCEX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIEKX or DFCEX?

DFCEX has higher volatility (8.78%) compared to MIEKX (3.68%). In terms of maximum drawdown, MIEKX dropped -13.42% vs DFCEX's -64.58%.

Which has better risk-adjusted returns?

DFCEX currently has the higher Sharpe Ratio (2.75 vs 0.83), 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.