OCIO vs. DFAU

Last updated Jun 3, 2026

OCIO (ClearShares OCIO ETF) and DFAU (Dimensional US Core Equity Market ETF) are both exchange-traded funds - OCIO is a Diversified Portfolio fund actively managed by ClearShares LLC, while DFAU is a Large Cap Blend Equities fund actively managed by Dimensional. Both are actively managed. Over the past 5 years, OCIO returned 7.68%/yr vs 13.38%/yr for DFAU. Their correlation of 0.94 suggests significant overlap in exposure. OCIO charges 0.61%/yr vs 0.12%/yr for DFAU.

Performance

OCIO vs. DFAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearShares OCIO ETF (OCIO) and Dimensional US Core Equity Market ETF (DFAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCIO achieves a 9.94% return, which is significantly lower than DFAU's 12.07% return.

OCIO

• 1D: 0.71%
• 1M: 3.71%
• YTD: 9.94%
• 6M: 10.68%
• 1Y: 22.20%
• 3Y*: 14.20%
• 5Y*: 7.68%
• 10Y*: —

DFAU

• 1D: 0.31%
• 1M: 5.21%
• YTD: 12.07%
• 6M: 12.52%
• 1Y: 30.31%
• 3Y*: 21.97%
• 5Y*: 13.38%
• 10Y*: —

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

OCIO vs. DFAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
OCIO ClearShares OCIO ETF	9.94%	12.68%	12.76%	12.03%	-12.49%	13.20%	3.77%
DFAU Dimensional US Core Equity Market ETF	12.07%	16.78%	23.17%	24.79%	-16.99%	26.89%	6.48%

Correlation

The correlation between OCIO and DFAU is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
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 OCIO and DFAU has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

OCIO vs. DFAU - Sectors Allocation Comparison

Sectors	OCIO	DFAU
Technology	35.9%	32.7%
Financial Services	13.2%	12.8%
Industrials	10.9%	10.4%
Consumer Cyclical	8.6%	10.8%
Healthcare	7.9%	8.5%
Communication Services	7.1%	10.4%
Consumer Defensive	5.0%	4.8%
Energy	3.8%	4.6%
Basic Materials	3.3%	2.4%
Utilities	2.6%	2.5%
Real Estate	1.7%	0.2%

Return for Risk

OCIO vs. DFAU — Risk / Return Rank

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

OCIO

OCIO Risk / Return Rank: 69
OCIO Sharpe Ratio Rank: 68
OCIO Sortino Ratio Rank: 70
OCIO Omega Ratio Rank: 70
OCIO Calmar Ratio Rank: 63
OCIO Martin Ratio Rank: 73

DFAU

DFAU Risk / Return Rank: 76
DFAU Sharpe Ratio Rank: 77
DFAU Sortino Ratio Rank: 75
DFAU Omega Ratio Rank: 76
DFAU Calmar Ratio Rank: 70
DFAU Martin Ratio Rank: 81

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.

OCIO vs. DFAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearShares OCIO ETF (OCIO) and Dimensional US Core Equity Market ETF (DFAU). 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.

	OCIO	DFAU	Difference
Sharpe ratio Return per unit of total volatility	2.30	2.53	-0.23
Sortino ratio Return per unit of downside risk	3.27	3.43	-0.17
Omega ratio Gain probability vs. loss probability	1.42	1.46	-0.03
Calmar ratio Return relative to maximum drawdown	3.17	3.56	-0.39
Martin ratio Return relative to average drawdown	14.08	16.33	-2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCIO vs. DFAU - Sharpe Ratio Comparison

The current OCIO Sharpe Ratio is 2.30, which is comparable to the DFAU Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of OCIO and DFAU, 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

	OCIO	DFAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.53	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.79	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.95	-0.24

Drawdowns

OCIO vs. DFAU - Drawdown Comparison

The maximum OCIO drawdown since its inception was -24.21%, roughly equal to the maximum DFAU drawdown of -23.61%. Use the drawdown chart below to compare losses from any high point for OCIO and DFAU.

Drawdown Indicators

	OCIO	DFAU	Difference
Max Drawdown Largest peak-to-trough decline	-24.21%	-23.61%	-0.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	-8.67%	+1.69%
Max Drawdown (3Y) Largest decline over 3 years	-13.32%	-19.36%	+6.04%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-23.61%	+4.86%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.44%	-4.99%	+0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.89%	-0.32%

Volatility

OCIO vs. DFAU - Volatility Comparison

ClearShares OCIO ETF (OCIO) has a higher volatility of 3.27% compared to Dimensional US Core Equity Market ETF (DFAU) at 2.88%. This indicates that OCIO's price experiences larger fluctuations and is considered to be riskier than DFAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCIO	DFAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	2.88%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	7.68%	9.02%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	9.69%	12.04%	-2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.60%	17.02%	-6.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.36%	16.74%	-5.38%

OCIO vs. DFAU - Expense Ratio Comparison

OCIO has a 0.61% expense ratio, which is higher than DFAU's 0.12% expense ratio.

Dividends

OCIO vs. DFAU - Dividend Comparison

OCIO's dividend yield for the trailing twelve months is around 9.43%, more than DFAU's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFAU Dimensional US Core Equity Market ETF	0.89%	0.95%	1.10%	1.29%	1.40%	1.00%	0.13%	0.00%	0.00%	0.00%
OCIO ClearShares OCIO ETF	9.43%	10.27%	1.87%	2.32%	3.21%	2.83%	2.90%	2.22%	0.01%	1.68%

Frequently Asked Questions

Can I hold both OCIO and DFAU in my portfolio?

With a correlation of 0.92, OCIO and DFAU 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, OCIO or DFAU?

OCIO has higher volatility (3.27%) compared to DFAU (2.88%). In terms of maximum drawdown, OCIO dropped -24.21% vs DFAU's -23.61%.

Which ETF is better, OCIO or DFAU?

On 5-year performance, DFAU leads with 13.38% vs 7.68% for OCIO. On fees, DFAU is cheaper at 0.12% per year. On volatility, DFAU has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCIO or DFAU?

Over the 5-year period, DFAU has performed better with a 13.38% return vs 7.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCIO or DFAU?

DFAU is cheaper with a 0.12% expense ratio, compared with 0.61% for OCIO.

Which ETF pays a higher dividend yield, OCIO or DFAU?

OCIO has the higher dividend yield at 9.43%, compared with 0.89% for DFAU.

What is the main difference between OCIO and DFAU?

OCIO is categorized as Diversified Portfolio, while DFAU is Large Cap Blend Equities. They also come from different issuers: ClearShares LLC and Dimensional. Their fees differ too: 0.61% for OCIO and 0.12% for DFAU.

Which has better risk-adjusted returns?

DFAU currently has the higher Sharpe Ratio (2.53 vs 2.30), 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.