RWJ vs. DFSCX

Last updated Jun 4, 2026

RWJ (Invesco S&P SmallCap 600 Revenue ETF) and DFSCX (DFA U.S. Micro Cap Portfolio) are both funds - RWJ is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Revenue-Weighted Index, while DFSCX is a Small Cap Blend Equities fund managed by Dimensional. Over the past 10 years, RWJ returned 13.02%/yr vs 11.20%/yr for DFSCX. Their correlation of 0.92 suggests significant overlap in exposure. RWJ charges 0.39%/yr vs 0.41%/yr for DFSCX.

Performance

RWJ vs. DFSCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap 600 Revenue ETF (RWJ) and DFA U.S. Micro Cap Portfolio (DFSCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWJ achieves a 15.88% return, which is significantly lower than DFSCX's 16.94% return. Over the past 10 years, RWJ has outperformed DFSCX with an annualized return of 13.02%, while DFSCX has yielded a comparatively lower 11.20% annualized return.

RWJ

• 1D: -1.07%
• 1M: 1.90%
• YTD: 15.88%
• 6M: 14.97%
• 1Y: 36.55%
• 3Y*: 16.43%
• 5Y*: 7.73%
• 10Y*: 13.02%

DFSCX

• 1D: 0.66%
• 1M: 2.89%
• YTD: 16.94%
• 6M: 16.37%
• 1Y: 35.45%
• 3Y*: 17.74%
• 5Y*: 9.05%
• 10Y*: 11.20%

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

RWJ vs. DFSCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWJ Invesco S&P SmallCap 600 Revenue ETF	15.88%	7.75%	11.81%	16.21%	-10.97%	52.82%	20.83%	20.29%	-16.95%	5.30%
DFSCX DFA U.S. Micro Cap Portfolio	16.94%	9.65%	11.43%	17.93%	-12.49%	33.70%	6.61%	20.68%	-11.60%	10.92%

Correlation

The correlation between RWJ and DFSCX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 25, 2008	0.92

The correlation between RWJ and DFSCX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

RWJ vs. DFSCX — Risk / Return Rank

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

RWJ

RWJ Risk / Return Rank: 57
RWJ Sharpe Ratio Rank: 55
RWJ Sortino Ratio Rank: 57
RWJ Omega Ratio Rank: 52
RWJ Calmar Ratio Rank: 65
RWJ Martin Ratio Rank: 58

DFSCX

DFSCX Risk / Return Rank: 65
DFSCX Sharpe Ratio Rank: 54
DFSCX Sortino Ratio Rank: 54
DFSCX Omega Ratio Rank: 47
DFSCX Calmar Ratio Rank: 90
DFSCX Martin Ratio Rank: 80

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.

RWJ vs. DFSCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600 Revenue ETF (RWJ) and DFA U.S. Micro Cap Portfolio (DFSCX). 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.

	RWJ	DFSCX	Difference
Sharpe ratio Return per unit of total volatility	1.90	2.16	-0.26
Sortino ratio Return per unit of downside risk	2.75	3.11	-0.37
Omega ratio Gain probability vs. loss probability	1.33	1.37	-0.04
Calmar ratio Return relative to maximum drawdown	3.25	4.65	-1.40
Martin ratio Return relative to average drawdown	10.39	14.95	-4.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWJ vs. DFSCX - Sharpe Ratio Comparison

The current RWJ Sharpe Ratio is 1.90, which is comparable to the DFSCX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of RWJ and DFSCX, 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

	RWJ	DFSCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	2.16	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.43	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.50	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.61	-0.15

Drawdowns

RWJ vs. DFSCX - Drawdown Comparison

The maximum RWJ drawdown since its inception was -55.97%, smaller than the maximum DFSCX drawdown of -63.07%. Use the drawdown chart below to compare losses from any high point for RWJ and DFSCX.

Drawdown Indicators

	RWJ	DFSCX	Difference
Max Drawdown Largest peak-to-trough decline	-55.97%	-63.07%	+7.10%
Max Drawdown (1Y) Largest decline over 1 year	-11.31%	-8.17%	-3.14%
Max Drawdown (3Y) Largest decline over 3 years	-29.29%	-27.01%	-2.28%
Max Drawdown (5Y) Largest decline over 5 years	-29.29%	-27.01%	-2.28%
Max Drawdown (10Y) Largest decline over 10 years	-51.33%	-46.88%	-4.45%
Current Drawdown Current decline from peak	-1.07%	0.00%	-1.07%
Average Drawdown Average peak-to-trough decline	-9.24%	-9.91%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	2.53%	+1.00%

Volatility

RWJ vs. DFSCX - Volatility Comparison

Invesco S&P SmallCap 600 Revenue ETF (RWJ) and DFA U.S. Micro Cap Portfolio (DFSCX) have volatilities of 4.64% and 4.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWJ	DFSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	4.48%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	11.59%	+0.70%
Volatility (1Y) Calculated over the trailing 1-year period	19.40%	17.57%	+1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	21.01%	+2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.14%	22.64%	+3.50%

RWJ vs. DFSCX - Expense Ratio Comparison

RWJ has a 0.39% expense ratio, which is lower than DFSCX's 0.41% expense ratio.

Dividends

RWJ vs. DFSCX - Dividend Comparison

RWJ's dividend yield for the trailing twelve months is around 1.01%, more than DFSCX's 0.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFSCX DFA U.S. Micro Cap Portfolio	0.82%	1.03%	0.97%	2.48%	5.16%	10.77%	0.87%	2.80%	5.50%	5.05%	0.90%	6.33%
RWJ Invesco S&P SmallCap 600 Revenue ETF	1.01%	1.11%	1.15%	1.34%	1.02%	0.61%	0.89%	1.22%	1.44%	1.11%	0.60%	0.74%

Frequently Asked Questions

Can I hold both RWJ and DFSCX in my portfolio?

With a correlation of 0.94, RWJ and DFSCX 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, RWJ or DFSCX?

RWJ has higher volatility (4.64%) compared to DFSCX (4.48%). In terms of maximum drawdown, RWJ dropped -55.97% vs DFSCX's -63.07%.

Which has better risk-adjusted returns?

DFSCX currently has the higher Sharpe Ratio (2.16 vs 1.90), 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.