MKVIX vs. DFAI

Last updated Jun 4, 2026

MKVIX (MFS International Large Cap Value Fund) and DFAI (Dimensional International Core Equity Market ETF) are both funds - MKVIX is a Foreign Large Cap Equities fund managed by MFS, while DFAI is a Global Equities fund actively managed by Dimensional. Over the past 5 years, MKVIX returned 11.99%/yr vs 9.36%/yr for DFAI. Their correlation of 0.94 suggests significant overlap in exposure. MKVIX charges 0.71%/yr vs 0.18%/yr for DFAI.

Performance

MKVIX vs. DFAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS International Large Cap Value Fund (MKVIX) 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, MKVIX achieves a 10.66% return, which is significantly higher than DFAI's 9.16% return.

MKVIX

• 1D: 0.43%
• 1M: 4.01%
• YTD: 10.66%
• 6M: 13.87%
• 1Y: 28.12%
• 3Y*: 20.91%
• 5Y*: 11.99%
• 10Y*: —

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)

MKVIX vs. DFAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MKVIX MFS International Large Cap Value Fund	10.66%	40.03%	6.63%	16.13%	-8.82%	14.82%	5.86%
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 MKVIX 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	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Nov 19, 2020	0.94

The correlation between MKVIX and DFAI has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

MKVIX vs. DFAI — Risk / Return Rank

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

MKVIX

MKVIX Risk / Return Rank: 52
MKVIX Sharpe Ratio Rank: 53
MKVIX Sortino Ratio Rank: 51
MKVIX Omega Ratio Rank: 50
MKVIX Calmar Ratio Rank: 53
MKVIX Martin Ratio Rank: 52

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.

MKVIX vs. DFAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS International Large Cap Value Fund (MKVIX) 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.

	MKVIX	DFAI	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.76	+0.40
Sortino ratio: Return per unit of downside risk	3.02	2.49	+0.53
Omega ratio: Gain probability vs. loss probability	1.39	1.32	+0.07
Calmar ratio: Return relative to maximum drawdown	2.78	2.26	+0.51
Martin ratio: Return relative to average drawdown	10.64	8.87	+1.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MKVIX vs. DFAI - Sharpe Ratio Comparison

The current MKVIX Sharpe Ratio is 2.16, which is comparable to the DFAI Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of MKVIX 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

	MKVIX	DFAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	1.76	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.59	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.78	+0.26

Drawdowns

MKVIX vs. DFAI - Drawdown Comparison

The maximum MKVIX drawdown since its inception was -26.63%, roughly equal to the maximum DFAI drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for MKVIX and DFAI.

Drawdown Indicators

	MKVIX	DFAI	Difference
Max Drawdown Largest peak-to-trough decline	-26.63%	-27.44%	+0.81%
Max Drawdown (1Y) Largest decline over 1 year	-9.91%	-10.95%	+1.04%
Max Drawdown (3Y) Largest decline over 3 years	-13.46%	-13.25%	-0.21%
Max Drawdown (5Y) Largest decline over 5 years	-26.63%	-27.44%	+0.81%
Current Drawdown Current decline from peak	0.00%	-1.61%	+1.61%
Average Drawdown Average peak-to-trough decline	-4.28%	-5.12%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.79%	-0.21%

Volatility

MKVIX vs. DFAI - Volatility Comparison

The current volatility for MFS International Large Cap Value Fund (MKVIX) is 3.92%, while Dimensional International Core Equity Market ETF (DFAI) has a volatility of 4.45%. This indicates that MKVIX experiences smaller price fluctuations and is considered to be less risky than DFAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MKVIX	DFAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	4.45%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	10.10%	11.68%	-1.58%
Volatility (1Y) Calculated over the trailing 1-year period	12.78%	14.08%	-1.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.40%	15.92%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.41%	15.70%	-0.29%

MKVIX vs. DFAI - Expense Ratio Comparison

MKVIX has a 0.71% expense ratio, which is higher than DFAI's 0.18% expense ratio.

Dividends

MKVIX vs. DFAI - Dividend Comparison

MKVIX's dividend yield for the trailing twelve months is around 7.61%, more than DFAI's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	2.26%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%
MKVIX MFS International Large Cap Value Fund	7.61%	8.42%	7.25%	4.19%	2.72%	3.90%	0.49%

Frequently Asked Questions

Can I hold both MKVIX and DFAI in my portfolio?

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

DFAI has higher volatility (4.45%) compared to MKVIX (3.92%). In terms of maximum drawdown, MKVIX dropped -26.63% vs DFAI's -27.44%.

Which has better risk-adjusted returns?

MKVIX currently has the higher Sharpe Ratio (2.16 vs 1.76), 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.