PIEQX vs. DFIEX
PIEQX (T. Rowe Price International Equity Index Fund) and DFIEX (DFA International Core Equity 2 Portfolio Institutional Class) are both Foreign Large Cap Equities funds. Over the past 10 years, PIEQX returned 9.17%/yr vs 10.16%/yr for DFIEX. Their 0.97 correlation means they have historically moved very closely together. PIEQX charges 0.29%/yr vs 0.24%/yr for DFIEX.
Performance
PIEQX vs. DFIEX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PIEQX having a 12.27% return and DFIEX slightly higher at 12.75%. Over the past 10 years, PIEQX has underperformed DFIEX with an annualized return of 9.17%, while DFIEX has yielded a comparatively higher 10.16% annualized return.
PIEQX
- 1D
- 0.54%
- 1M
- 1.82%
- 6M
- 6.16%
- YTD
- 12.27%
- 1Y
- 24.01%
- 3Y*
- 17.23%
- 5Y*
- 9.05%
- 10Y*
- 9.17%
- ALL TIME*
- 5.45%
DFIEX
- 1D
- 0.58%
- 1M
- 2.31%
- 6M
- 6.06%
- YTD
- 12.75%
- 1Y
- 26.13%
- 3Y*
- 19.08%
- 5Y*
- 10.19%
- 10Y*
- 10.16%
- ALL TIME*
- 7.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PIEQX vs. DFIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIEQX T. Rowe Price International Equity Index Fund | 12.27% | 31.37% | 3.40% | 18.07% | -14.54% | 11.02% | 9.21% | 21.04% | -14.29% | 23.44% |
DFIEX DFA International Core Equity 2 Portfolio Institutional Class | 12.75% | 36.18% | 3.99% | 17.50% | -13.51% | 13.85% | 7.73% | 21.70% | -17.41% | 28.04% |
Correlation
The correlation between PIEQX and DFIEX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2005 | 0.97 |
The correlation between PIEQX and DFIEX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
PIEQX vs. DFIEX — Risk / Return Rank
PIEQX
DFIEX
PIEQX vs. DFIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Equity Index Fund (PIEQX) and DFA International Core Equity 2 Portfolio Institutional Class (DFIEX). 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.
| PIEQX | DFIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.53 | -0.27 |
| Martin ratioReturn relative to average drawdown | 8.56 | 9.87 | -1.31 |
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Drawdowns
PIEQX vs. DFIEX - Drawdown Comparison
The maximum PIEQX drawdown since its inception was -60.73%, roughly equal to the maximum DFIEX drawdown of -62.22%. Use the drawdown chart below to compare losses from any high point for PIEQX and DFIEX.
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Drawdown Indicators
| PIEQX | DFIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.73% | -62.22% | +1.49% |
Max Drawdown (1Y)Largest decline over 1 year | -11.38% | -11.01% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -13.70% | -12.81% | -0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -29.56% | -28.66% | -0.90% |
Max Drawdown (10Y)Largest decline over 10 years | -35.19% | -41.04% | +5.85% |
Current DrawdownCurrent decline from peak | -0.22% | -0.22% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -13.87% | -12.09% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 2.82% | +0.19% |
Volatility
PIEQX vs. DFIEX - Volatility Comparison
T. Rowe Price International Equity Index Fund (PIEQX) has a higher volatility of 4.44% compared to DFA International Core Equity 2 Portfolio Institutional Class (DFIEX) at 4.06%. This indicates that PIEQX's price experiences larger fluctuations and is considered to be riskier than DFIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIEQX | DFIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 4.06% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 13.50% | 12.17% | +1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.88% | 14.49% | +1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.40% | 15.83% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 16.12% | +0.41% |
PIEQX vs. DFIEX - Expense Ratio Comparison
PIEQX has a 0.29% expense ratio, which is higher than DFIEX's 0.24% expense ratio.
Dividends
PIEQX vs. DFIEX - Dividend Comparison
PIEQX's dividend yield for the trailing twelve months is around 2.84%, less than DFIEX's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFIEX DFA International Core Equity 2 Portfolio Institutional Class | 2.94% | 3.22% | 3.42% | 3.36% | 2.88% | 2.98% | 1.77% | 2.90% | 2.95% | 2.49% | 2.76% | 4.20% |
PIEQX T. Rowe Price International Equity Index Fund | 2.84% | 3.19% | 2.89% | 3.00% | 2.67% | 3.15% | 1.71% | 2.82% | 2.99% | 0.21% | 2.90% | 2.69% |
Frequently Asked Questions
With a correlation of 0.98, PIEQX and DFIEX 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.
PIEQX has higher volatility (4.44%) compared to DFIEX (4.06%). In terms of maximum drawdown, PIEQX dropped -60.73% vs DFIEX's -62.22%.
DFIEX currently has the higher Sharpe Ratio (1.93 vs 1.63), 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.
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