MISIX vs. DFISX

Last updated Jun 23, 2026

MISIX (Victory Trivalent International Small-Cap Fund Class I) and DFISX (DFA International Small Company Portfolio) are both mutual funds - MISIX is a Mid Cap Blend Equities fund managed by Victory, while DFISX is a Foreign Small & Mid Cap Equities fund managed by Dimensional. Over the past 10 years, MISIX returned 10.36%/yr vs 8.37%/yr for DFISX. With a 0.95 correlation, they move nearly in lockstep. MISIX charges 0.97%/yr vs 0.39%/yr for DFISX.

Performance

MISIX vs. DFISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Trivalent International Small-Cap Fund Class I (MISIX) and DFA International Small Company Portfolio (DFISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MISIX achieves a 13.49% return, which is significantly higher than DFISX's 8.12% return. Over the past 10 years, MISIX has outperformed DFISX with an annualized return of 10.36%, while DFISX has yielded a comparatively lower 8.37% annualized return.

MISIX

• 1D: 0.36%
• 1M: 0.99%
• YTD: 13.49%
• 6M: 13.32%
• 1Y: 32.36%
• 3Y*: 20.40%
• 5Y*: 8.87%
• 10Y*: 10.36%

DFISX

• 1D: 0.00%
• 1M: -0.11%
• YTD: 8.12%
• 6M: 8.42%
• 1Y: 24.90%
• 3Y*: 17.25%
• 5Y*: 7.67%
• 10Y*: 8.37%

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

MISIX vs. DFISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MISIX Victory Trivalent International Small-Cap Fund Class I	13.49%	42.00%	4.70%	15.49%	-23.13%	12.41%	15.42%	27.88%	-20.20%	37.14%
DFISX DFA International Small Company Portfolio	8.12%	36.35%	3.76%	14.46%	-17.13%	10.71%	9.27%	24.18%	-19.42%	24.78%

Correlation

The correlation between MISIX and DFISX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Aug 20, 2007	0.95

The correlation between MISIX and DFISX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

MISIX vs. DFISX — Risk / Return Rank

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

MISIX

MISIX Risk / Return Rank: 48
MISIX Sharpe Ratio Rank: 52
MISIX Sortino Ratio Rank: 50
MISIX Omega Ratio Rank: 51
MISIX Calmar Ratio Rank: 41
MISIX Martin Ratio Rank: 45

DFISX

DFISX Risk / Return Rank: 38
DFISX Sharpe Ratio Rank: 40
DFISX Sortino Ratio Rank: 40
DFISX Omega Ratio Rank: 40
DFISX Calmar Ratio Rank: 33
DFISX Martin Ratio Rank: 35

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.

MISIX vs. DFISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Trivalent International Small-Cap Fund Class I (MISIX) and DFA International Small Company Portfolio (DFISX). 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.

	MISIX	DFISX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.73	+0.24
Sortino ratio: Return per unit of downside risk	2.73	2.45	+0.28
Omega ratio: Gain probability vs. loss probability	1.36	1.31	+0.05
Calmar ratio: Return relative to maximum drawdown	2.32	2.04	+0.28
Martin ratio: Return relative to average drawdown	8.99	7.35	+1.64

MISIX vs. DFISX - Sharpe Ratio Comparison

The current MISIX Sharpe Ratio is 1.97, which is comparable to the DFISX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of MISIX and DFISX, 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

MISIX vs. DFISX - Drawdown Comparison

The maximum MISIX drawdown since its inception was -67.61%, which is greater than DFISX's maximum drawdown of -60.66%. Use the drawdown chart below to compare losses from any high point for MISIX and DFISX.

Drawdown Indicators

	MISIX	DFISX	Difference
Max Drawdown Largest peak-to-trough decline	-67.61%	-60.66%	-6.95%
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	-11.96%	-1.88%
Max Drawdown (3Y) Largest decline over 3 years	-14.15%	-13.68%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-37.69%	-35.06%	-2.63%
Max Drawdown (10Y) Largest decline over 10 years	-41.82%	-43.00%	+1.18%
Current Drawdown Current decline from peak	-1.53%	-2.68%	+1.15%
Average Drawdown Average peak-to-trough decline	-16.83%	-11.63%	-5.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	3.30%	+0.26%

Volatility

MISIX vs. DFISX - Volatility Comparison

Victory Trivalent International Small-Cap Fund Class I (MISIX) has a higher volatility of 6.21% compared to DFA International Small Company Portfolio (DFISX) at 4.53%. This indicates that MISIX's price experiences larger fluctuations and is considered to be riskier than DFISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MISIX	DFISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.21%	4.53%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	14.02%	11.60%	+2.42%
Volatility (1Y) Calculated over the trailing 1-year period	16.31%	14.11%	+2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.06%	15.94%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.97%	16.19%	+1.78%

MISIX vs. DFISX - Expense Ratio Comparison

MISIX has a 0.97% expense ratio, which is higher than DFISX's 0.39% expense ratio.

Dividends

MISIX vs. DFISX - Dividend Comparison

MISIX's dividend yield for the trailing twelve months is around 5.33%, more than DFISX's 2.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFISX DFA International Small Company Portfolio	2.91%	3.19%	3.39%	3.01%	3.51%	3.06%	1.71%	4.54%	7.74%	1.27%	4.44%	4.47%
MISIX Victory Trivalent International Small-Cap Fund Class I	5.33%	6.05%	2.27%	1.90%	1.12%	8.61%	0.41%	1.99%	3.59%	1.85%	1.56%	1.21%

Frequently Asked Questions

Can I hold both MISIX and DFISX in my portfolio?

With a correlation of 0.95, MISIX and DFISX 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, MISIX or DFISX?

MISIX has higher volatility (6.21%) compared to DFISX (4.53%). In terms of maximum drawdown, MISIX dropped -67.61% vs DFISX's -60.66%.

Which has better risk-adjusted returns?

MISIX currently has the higher Sharpe Ratio (1.97 vs 1.73), 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.