QQQ vs. DFSVX

Last updated Jun 13, 2026

QQQ (Invesco QQQ ETF) and DFSVX (DFA U.S. Small Cap Value Portfolio I) are both funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while DFSVX is a Small Cap Value Equities fund actively managed by Dimensional. QQQ is passively managed, while DFSVX is actively managed. Over the past 10 years, QQQ returned 21.79%/yr vs 11.75%/yr for DFSVX. A 0.68 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.30%/yr for DFSVX.

Performance

QQQ vs. DFSVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and DFA U.S. Small Cap Value Portfolio I (DFSVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with QQQ having a 17.57% return and DFSVX slightly higher at 17.78%. Over the past 10 years, QQQ has outperformed DFSVX with an annualized return of 21.79%, while DFSVX has yielded a comparatively lower 11.75% annualized return.

QQQ

• 1D: 0.59%
• 1M: 0.93%
• YTD: 17.57%
• 6M: 17.85%
• 1Y: 35.82%
• 3Y*: 26.43%
• 5Y*: 16.85%
• 10Y*: 21.79%

DFSVX

• 1D: 1.63%
• 1M: 4.88%
• YTD: 17.78%
• 6M: 15.07%
• 1Y: 34.28%
• 3Y*: 17.62%
• 5Y*: 10.49%
• 10Y*: 11.75%

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

QQQ vs. DFSVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQ Invesco QQQ ETF	17.57%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%
DFSVX DFA U.S. Small Cap Value Portfolio I	17.78%	8.37%	9.58%	19.02%	-3.57%	39.97%	2.24%	18.15%	-15.13%	6.82%

Correlation

The correlation between QQQ and DFSVX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Mar 10, 1999	0.68

The correlation between QQQ and DFSVX shifts across timeframes, from 0.49 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

Return for Risk

QQQ vs. DFSVX — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 71
QQQ Sharpe Ratio Rank: 75
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 73
QQQ Calmar Ratio Rank: 69
QQQ Martin Ratio Rank: 70

DFSVX

DFSVX Risk / Return Rank: 75
DFSVX Sharpe Ratio Rank: 71
DFSVX Sortino Ratio Rank: 73
DFSVX Omega Ratio Rank: 65
DFSVX Calmar Ratio Rank: 88
DFSVX Martin Ratio Rank: 78

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.

QQQ vs. DFSVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and DFA U.S. Small Cap Value Portfolio I (DFSVX). 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.

	QQQ	DFSVX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.96	+0.14
Sortino ratio: Return per unit of downside risk	2.73	2.85	-0.12
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	3.01	3.58	-0.57
Martin ratio: Return relative to average drawdown	11.22	11.45	-0.22

QQQ vs. DFSVX - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is comparable to the DFSVX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of QQQ and DFSVX, 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

QQQ vs. DFSVX - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than DFSVX's maximum drawdown of -66.70%. Use the drawdown chart below to compare losses from any high point for QQQ and DFSVX.

Drawdown Indicators

	QQQ	DFSVX	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-66.70%	-16.27%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-9.59%	-2.37%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-27.69%	+4.92%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-27.69%	-7.43%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-52.12%	+17.00%
Current Drawdown Current decline from peak	-3.33%	0.00%	-3.33%
Average Drawdown Average peak-to-trough decline	-32.75%	-9.46%	-23.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	2.99%	+0.21%

Volatility

QQQ vs. DFSVX - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 7.56% compared to DFA U.S. Small Cap Value Portfolio I (DFSVX) at 4.27%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than DFSVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	DFSVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	4.27%	+3.29%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	11.51%	+2.30%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	17.53%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.55%	21.50%	+1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.38%	23.89%	-1.51%

QQQ vs. DFSVX - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than DFSVX's 0.30% expense ratio.

Dividends

QQQ vs. DFSVX - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, less than DFSVX's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFSVX DFA U.S. Small Cap Value Portfolio I	1.48%	1.69%	1.47%	3.67%	6.77%	10.40%	1.96%	2.83%	7.54%	5.18%	4.18%	5.29%
QQQ Invesco QQQ ETF	0.39%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both QQQ and DFSVX in my portfolio?

QQQ and DFSVX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQ or DFSVX?

QQQ has higher volatility (7.56%) compared to DFSVX (4.27%). In terms of maximum drawdown, QQQ dropped -82.97% vs DFSVX's -66.70%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.09 vs 1.96), 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.