SFENX vs. DFEMX

Last updated Aug 1, 2026

SFENX (Schwab Fundamental Emerging Markets Equity Index Fund) and DFEMX (DFA Emerging Markets Portfolio) are both Emerging Markets Equities funds. Over the past 10 years, SFENX returned 9.83%/yr vs 9.27%/yr for DFEMX. Their correlation of 0.94 means they have usually moved in the same direction. SFENX charges 0.39%/yr vs 0.36%/yr for DFEMX.

Performance

SFENX vs. DFEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) and DFA Emerging Markets Portfolio (DFEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFENX achieves a 13.49% return, which is significantly lower than DFEMX's 17.07% return. Over the past 10 years, SFENX has outperformed DFEMX with an annualized return of 9.83%, while DFEMX has yielded a comparatively lower 9.27% annualized return.

SFENX

• 1D: 1.90%
• 1M: 3.71%
• 6M: 5.58%
• YTD: 13.49%
• 1Y: 27.98%
• 3Y*: 17.96%
• 5Y*: 10.51%
• 10Y*: 9.83%
• ALL TIME*: 8.18%

DFEMX

• 1D: 3.65%
• 1M: -4.00%
• 6M: 8.21%
• YTD: 17.07%
• 1Y: 35.53%
• 3Y*: 18.43%
• 5Y*: 9.18%
• 10Y*: 9.27%
• ALL TIME*: 7.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFEMX DFA Emerging Markets Portfolio	$0.00	$0.00	$0.00
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	$0.00	$0.00	$0.00

SFENX vs. DFEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	13.49%	29.19%	12.31%	14.90%	-15.50%	13.91%	-3.01%	19.46%	-9.96%	26.44%
DFEMX DFA Emerging Markets Portfolio	17.07%	33.57%	6.90%	13.08%	-16.91%	2.53%	13.89%	16.02%	-13.62%	36.57%

Correlation

The correlation between SFENX and DFEMX is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.94

The correlation between SFENX and DFEMX has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.

Return for Risk

SFENX vs. DFEMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SFENX

SFENX Risk / Return Rank: 76
SFENX Sharpe Ratio Rank: 78
SFENX Sortino Ratio Rank: 74
SFENX Omega Ratio Rank: 76
SFENX Calmar Ratio Rank: 83
SFENX Martin Ratio Rank: 67

DFEMX

DFEMX Risk / Return Rank: 66
DFEMX Sharpe Ratio Rank: 66
DFEMX Sortino Ratio Rank: 58
DFEMX Omega Ratio Rank: 69
DFEMX Calmar Ratio Rank: 73
DFEMX Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SFENX vs. DFEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) and DFA Emerging Markets Portfolio (DFEMX). 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.

	SFENX	DFEMX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.53	+0.27
Sortino ratio: Return per unit of downside risk	2.46	2.02	+0.44
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	2.73	2.33	+0.40
Martin ratio: Return relative to average drawdown	8.14	7.75	+0.40

SFENX vs. DFEMX - Sharpe Ratio Comparison

The current SFENX Sharpe Ratio is 1.80, which is comparable to the DFEMX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of SFENX and DFEMX, 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

SFENX vs. DFEMX - Drawdown Comparison

The maximum SFENX drawdown since its inception was -47.19%, smaller than the maximum DFEMX drawdown of -62.43%. Use the drawdown chart below to compare losses from any high point for SFENX and DFEMX.

Drawdown Indicators

	SFENX	DFEMX	Difference
Max Drawdown Largest peak-to-trough decline	-47.19%	-62.43%	+15.24%
Max Drawdown (1Y) Largest decline over 1 year	-9.45%	-14.29%	+4.84%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-16.12%	-0.39%
Max Drawdown (5Y) Largest decline over 5 years	-29.26%	-29.53%	+0.27%
Max Drawdown (10Y) Largest decline over 10 years	-39.59%	-40.44%	+0.85%
Current Drawdown Current decline from peak	-3.23%	-11.16%	+7.93%
Average Drawdown Average peak-to-trough decline	-12.81%	-15.29%	+2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	4.28%	-1.12%

Volatility

SFENX vs. DFEMX - Volatility Comparison

The current volatility for Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) is 4.35%, while DFA Emerging Markets Portfolio (DFEMX) has a volatility of 9.34%. This indicates that SFENX experiences smaller price fluctuations and is considered to be less risky than DFEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFENX	DFEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	9.34%	-4.99%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	20.34%	-8.36%
Volatility (1Y) Calculated over the trailing 1-year period	14.34%	21.83%	-7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.56%	16.81%	-1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	17.01%	-0.22%

SFENX vs. DFEMX - Expense Ratio Comparison

SFENX has a 0.39% expense ratio, which is higher than DFEMX's 0.36% expense ratio.

Dividends

SFENX vs. DFEMX - Dividend Comparison

SFENX's dividend yield for the trailing twelve months is around 3.46%, more than DFEMX's 2.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFEMX DFA Emerging Markets Portfolio	2.09%	2.55%	3.14%	3.34%	3.90%	6.13%	1.45%	2.33%	2.14%	1.74%	1.92%	2.08%
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	3.46%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%

Frequently Asked Questions

Can I hold both SFENX and DFEMX in my portfolio?

SFENX and DFEMX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SFENX or DFEMX?

DFEMX has higher volatility (9.34%) compared to SFENX (4.35%). In terms of maximum drawdown, SFENX dropped -47.19% vs DFEMX's -62.43%.

Which has better risk-adjusted returns?

SFENX currently has the higher Sharpe Ratio (1.80 vs 1.53), 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.