PMJAX vs. DFFVX

Last updated Jun 4, 2026

PMJAX (PIMCO RAE US Small Fund Class A) and DFFVX (DFA U.S. Targeted Value Portfolio) are both Small Cap Value Equities funds. Over the past 10 years, PMJAX returned 13.33%/yr vs 11.05%/yr for DFFVX. Their correlation of 0.95 suggests significant overlap in exposure. PMJAX charges 0.90%/yr vs 0.29%/yr for DFFVX.

Performance

PMJAX vs. DFFVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE US Small Fund Class A (PMJAX) and DFA U.S. Targeted Value Portfolio (DFFVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMJAX achieves a 19.03% return, which is significantly higher than DFFVX's 14.56% return. Over the past 10 years, PMJAX has outperformed DFFVX with an annualized return of 13.33%, while DFFVX has yielded a comparatively lower 11.05% annualized return.

PMJAX

• 1D: 1.46%
• 1M: 7.49%
• YTD: 19.03%
• 6M: 16.82%
• 1Y: 35.94%
• 3Y*: 21.80%
• 5Y*: 10.65%
• 10Y*: 13.33%

DFFVX

• 1D: 0.96%
• 1M: 2.48%
• YTD: 14.56%
• 6M: 14.49%
• 1Y: 32.25%
• 3Y*: 17.52%
• 5Y*: 8.76%
• 10Y*: 11.05%

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

PMJAX vs. DFFVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PMJAX PIMCO RAE US Small Fund Class A	19.03%	4.89%	20.53%	19.76%	-5.07%	38.48%	6.52%	19.76%	-12.02%	8.76%
DFFVX DFA U.S. Targeted Value Portfolio	14.56%	9.53%	9.34%	19.37%	-4.66%	31.53%	3.78%	21.51%	-15.79%	9.20%

Correlation

The correlation between PMJAX and DFFVX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.95

The correlation between PMJAX and DFFVX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

PMJAX vs. DFFVX — Risk / Return Rank

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

PMJAX

PMJAX Risk / Return Rank: 65
PMJAX Sharpe Ratio Rank: 56
PMJAX Sortino Ratio Rank: 54
PMJAX Omega Ratio Rank: 47
PMJAX Calmar Ratio Rank: 92
PMJAX Martin Ratio Rank: 78

DFFVX

DFFVX Risk / Return Rank: 56
DFFVX Sharpe Ratio Rank: 48
DFFVX Sortino Ratio Rank: 50
DFFVX Omega Ratio Rank: 45
DFFVX Calmar Ratio Rank: 78
DFFVX Martin Ratio Rank: 58

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.

PMJAX vs. DFFVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE US Small Fund Class A (PMJAX) and DFA U.S. Targeted Value Portfolio (DFFVX). 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.

	PMJAX	DFFVX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.03	+0.19
Sortino ratio: Return per unit of downside risk	3.13	2.98	+0.14
Omega ratio: Gain probability vs. loss probability	1.37	1.36	+0.01
Calmar ratio: Return relative to maximum drawdown	4.97	3.57	+1.40
Martin ratio: Return relative to average drawdown	14.77	11.57	+3.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMJAX vs. DFFVX - Sharpe Ratio Comparison

The current PMJAX Sharpe Ratio is 2.22, which is comparable to the DFFVX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of PMJAX and DFFVX, 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

	PMJAX	DFFVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.03	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.41	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.47	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.47	-0.06

Drawdowns

PMJAX vs. DFFVX - Drawdown Comparison

The maximum PMJAX drawdown since its inception was -50.53%, smaller than the maximum DFFVX drawdown of -64.21%. Use the drawdown chart below to compare losses from any high point for PMJAX and DFFVX.

Drawdown Indicators

	PMJAX	DFFVX	Difference
Max Drawdown Largest peak-to-trough decline	-50.53%	-64.21%	+13.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-9.70%	+2.04%
Max Drawdown (3Y) Largest decline over 3 years	-26.72%	-26.09%	-0.63%
Max Drawdown (5Y) Largest decline over 5 years	-50.53%	-26.09%	-24.44%
Max Drawdown (10Y) Largest decline over 10 years	-50.53%	-50.75%	+0.22%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-17.03%	-9.71%	-7.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	2.98%	-0.41%

Volatility

PMJAX vs. DFFVX - Volatility Comparison

PIMCO RAE US Small Fund Class A (PMJAX) has a higher volatility of 5.13% compared to DFA U.S. Targeted Value Portfolio (DFFVX) at 4.26%. This indicates that PMJAX's price experiences larger fluctuations and is considered to be riskier than DFFVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMJAX	DFFVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	4.26%	+0.87%
Volatility (6M) Calculated over the trailing 6-month period	11.49%	11.04%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	17.16%	17.02%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.26%	21.54%	+18.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.57%	23.67%	+9.90%

PMJAX vs. DFFVX - Expense Ratio Comparison

PMJAX has a 0.90% expense ratio, which is higher than DFFVX's 0.29% expense ratio.

Dividends

PMJAX vs. DFFVX - Dividend Comparison

PMJAX's dividend yield for the trailing twelve months is around 2.78%, more than DFFVX's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFFVX DFA U.S. Targeted Value Portfolio	1.50%	1.69%	1.40%	2.26%	5.17%	2.74%	1.52%	3.82%	5.95%	5.16%	3.95%	5.84%
PMJAX PIMCO RAE US Small Fund Class A	2.78%	3.31%	2.48%	1.40%	10.08%	67.74%	9.44%	1.37%	7.72%	4.51%	1.16%	0.00%

Frequently Asked Questions

Can I hold both PMJAX and DFFVX in my portfolio?

With a correlation of 0.93, PMJAX and DFFVX 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, PMJAX or DFFVX?

PMJAX has higher volatility (5.13%) compared to DFFVX (4.26%). In terms of maximum drawdown, PMJAX dropped -50.53% vs DFFVX's -64.21%.

Which has better risk-adjusted returns?

PMJAX currently has the higher Sharpe Ratio (2.22 vs 2.03), 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.