SIVIX vs. DFISX

Last updated Jun 24, 2026

SIVIX (State Street Institutional Small-Cap Equity Fund) and DFISX (DFA International Small Company Portfolio) are both mutual funds - SIVIX is a Small Cap Blend Equities fund managed by State Street, while DFISX is a Foreign Small & Mid Cap Equities fund managed by Dimensional. Over the past 10 years, SIVIX returned 10.12%/yr vs 8.95%/yr for DFISX. A 0.60 correlation means they provide meaningful diversification when combined. SIVIX charges 0.75%/yr vs 0.39%/yr for DFISX.

Performance

SIVIX vs. DFISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Institutional Small-Cap Equity Fund (SIVIX) and DFA International Small Company Portfolio (DFISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIVIX achieves a 12.30% return, which is significantly higher than DFISX's 8.00% return. Over the past 10 years, SIVIX has outperformed DFISX with an annualized return of 10.12%, while DFISX has yielded a comparatively lower 8.95% annualized return.

SIVIX

• 1D: 0.12%
• 1M: 3.96%
• YTD: 12.30%
• 6M: 10.20%
• 1Y: 18.04%
• 3Y*: 11.31%
• 5Y*: 5.03%
• 10Y*: 10.12%

DFISX

• 1D: -0.11%
• 1M: -0.22%
• YTD: 8.00%
• 6M: 7.58%
• 1Y: 24.06%
• 3Y*: 18.61%
• 5Y*: 7.41%
• 10Y*: 8.95%

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

SIVIX vs. DFISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIVIX State Street Institutional Small-Cap Equity Fund	12.30%	0.64%	10.83%	14.23%	-14.99%	21.48%	15.19%	26.69%	-10.13%	13.22%
DFISX DFA International Small Company Portfolio	8.00%	36.35%	3.76%	14.46%	-17.13%	10.71%	9.27%	24.18%	-19.42%	24.78%

Correlation

The correlation between SIVIX and DFISX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999	0.60

The correlation between SIVIX and DFISX shifts across timeframes, from 0.60 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SIVIX vs. DFISX — Risk / Return Rank

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

SIVIX

SIVIX Risk / Return Rank: 22
SIVIX Sharpe Ratio Rank: 19
SIVIX Sortino Ratio Rank: 21
SIVIX Omega Ratio Rank: 18
SIVIX Calmar Ratio Rank: 26
SIVIX Martin Ratio Rank: 26

DFISX

DFISX Risk / Return Rank: 39
DFISX Sharpe Ratio Rank: 43
DFISX Sortino Ratio Rank: 42
DFISX Omega Ratio Rank: 42
DFISX Calmar Ratio Rank: 34
DFISX Martin Ratio Rank: 36

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.

SIVIX vs. DFISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Institutional Small-Cap Equity Fund (SIVIX) and DFA International Small Company Portfolio (DFISX). 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.

	SIVIX	DFISX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.77	-0.63
Sortino ratio: Return per unit of downside risk	1.76	2.51	-0.75
Omega ratio: Gain probability vs. loss probability	1.20	1.32	-0.12
Calmar ratio: Return relative to maximum drawdown	1.79	2.09	-0.30
Martin ratio: Return relative to average drawdown	5.65	7.53	-1.88

SIVIX vs. DFISX - Sharpe Ratio Comparison

The current SIVIX Sharpe Ratio is 1.14, which is lower than the DFISX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of SIVIX and DFISX, 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

SIVIX vs. DFISX - Drawdown Comparison

The maximum SIVIX drawdown since its inception was -56.52%, smaller than the maximum DFISX drawdown of -60.66%. Use the drawdown chart below to compare losses from any high point for SIVIX and DFISX.

Drawdown Indicators

	SIVIX	DFISX	Difference
Max Drawdown Largest peak-to-trough decline	-56.52%	-60.66%	+4.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.92%	-11.96%	+1.04%
Max Drawdown (3Y) Largest decline over 3 years	-25.67%	-13.68%	-11.99%
Max Drawdown (5Y) Largest decline over 5 years	-26.51%	-35.06%	+8.55%
Max Drawdown (10Y) Largest decline over 10 years	-43.92%	-43.00%	-0.92%
Current Drawdown Current decline from peak	0.00%	-2.79%	+2.79%
Average Drawdown Average peak-to-trough decline	-8.81%	-11.63%	+2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	3.30%	+0.15%

Volatility

SIVIX vs. DFISX - Volatility Comparison

State Street Institutional Small-Cap Equity Fund (SIVIX) and DFA International Small Company Portfolio (DFISX) have volatilities of 4.62% and 4.42%, 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

	SIVIX	DFISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	4.42%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	11.95%	11.58%	+0.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.16%	14.12%	+3.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.32%	15.94%	+4.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.13%	16.16%	+4.97%

SIVIX vs. DFISX - Expense Ratio Comparison

SIVIX has a 0.75% expense ratio, which is higher than DFISX's 0.39% expense ratio.

Dividends

SIVIX vs. DFISX - Dividend Comparison

SIVIX's dividend yield for the trailing twelve months is around 15.66%, more than DFISX's 2.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFISX DFA International Small Company Portfolio	2.91%	3.19%	3.39%	3.01%	3.51%	3.06%	1.71%	4.54%	7.74%	1.27%	4.44%	4.47%
SIVIX State Street Institutional Small-Cap Equity Fund	15.66%	17.59%	10.99%	7.77%	4.87%	16.56%	3.16%	6.27%	19.92%	9.35%	3.38%	13.07%

Frequently Asked Questions

Can I hold both SIVIX and DFISX in my portfolio?

SIVIX and DFISX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIVIX or DFISX?

SIVIX has higher volatility (4.62%) compared to DFISX (4.42%). In terms of maximum drawdown, SIVIX dropped -56.52% vs DFISX's -60.66%.

Which has better risk-adjusted returns?

DFISX currently has the higher Sharpe Ratio (1.77 vs 1.14), 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.