TBLU vs. DFSU

Last updated Jul 16, 2026

TBLU (Tortoise Global Water Fund) and DFSU (Dimensional US Sustainability Core 1 ETF) are both exchange-traded funds - TBLU is a Water Equities fund tracking the Tortoise Global Water ESG Net Total Return Index, while DFSU is a Large Cap Blend Equities fund actively managed by Dimensional. TBLU is passively managed, while DFSU is actively managed. Over the past 3 years, TBLU returned 9.28%/yr vs 18.84%/yr for DFSU. A 0.73 correlation means they provide meaningful diversification when combined. TBLU charges 0.40%/yr vs 0.18%/yr for DFSU.

Performance

TBLU vs. DFSU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Global Water Fund (TBLU) and Dimensional US Sustainability Core 1 ETF (DFSU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TBLU achieves a 1.99% return, which is significantly lower than DFSU's 10.04% return.

TBLU

• 1D: -0.37%
• 1M: 2.24%
• 6M: -2.46%
• YTD: 1.99%
• 1Y: 0.83%
• 3Y*: 9.28%
• 5Y*: 4.43%
• 10Y*: —

DFSU

• 1D: 0.61%
• 1M: 1.97%
• 6M: 8.18%
• YTD: 10.04%
• 1Y: 21.58%
• 3Y*: 18.84%
• 5Y*: —
• 10Y*: —

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

TBLU vs. DFSU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TBLU Tortoise Global Water Fund	1.99%	11.82%	8.54%	20.95%	4.82%
DFSU Dimensional US Sustainability Core 1 ETF	10.04%	15.65%	22.96%	26.27%	0.90%

Correlation

The correlation between TBLU and DFSU is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 2, 2022	0.73

The correlation between TBLU and DFSU has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

TBLU vs. DFSU - Sectors Allocation Comparison

Sectors	TBLU	DFSU
Industrials	65.7%	15.0%
Utilities	24.1%	1.1%
Basic Materials	7.4%	2.9%
Consumer Defensive	1.0%	3.8%
Consumer Cyclical	0.7%	17.2%
Technology	0.6%	13.0%
Energy	0.5%	2.1%
Communication Services	-	8.3%
Financial Services	-	21.0%
Healthcare	-	15.5%
Real Estate	-	0.1%

Return for Risk

TBLU vs. DFSU — Risk / Return Rank

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

TBLU

TBLU Risk / Return Rank: 10
TBLU Sharpe Ratio Rank: 10
TBLU Sortino Ratio Rank: 9
TBLU Omega Ratio Rank: 9
TBLU Calmar Ratio Rank: 10
TBLU Martin Ratio Rank: 10

DFSU

DFSU Risk / Return Rank: 59
DFSU Sharpe Ratio Rank: 61
DFSU Sortino Ratio Rank: 60
DFSU Omega Ratio Rank: 59
DFSU Calmar Ratio Rank: 52
DFSU Martin Ratio Rank: 64

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.

TBLU vs. DFSU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Global Water Fund (TBLU) and Dimensional US Sustainability Core 1 ETF (DFSU). 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.

	TBLU	DFSU	Difference
Sharpe ratio: Return per unit of total volatility	0.06	1.63	-1.58
Sortino ratio: Return per unit of downside risk	0.19	2.31	-2.12
Omega ratio: Gain probability vs. loss probability	1.02	1.29	-0.27
Calmar ratio: Return relative to maximum drawdown	0.06	2.14	-2.08
Martin ratio: Return relative to average drawdown	0.13	9.20	-9.06

TBLU vs. DFSU - Sharpe Ratio Comparison

The current TBLU Sharpe Ratio is 0.06, which is lower than the DFSU Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of TBLU and DFSU, 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

TBLU vs. DFSU - Drawdown Comparison

The maximum TBLU drawdown since its inception was -37.58%, which is greater than DFSU's maximum drawdown of -19.88%. Use the drawdown chart below to compare losses from any high point for TBLU and DFSU.

Drawdown Indicators

	TBLU	DFSU	Difference
Max Drawdown Largest peak-to-trough decline	-37.58%	-19.88%	-17.70%
Max Drawdown (1Y) Largest decline over 1 year	-13.17%	-10.12%	-3.05%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	-19.88%	+4.46%
Max Drawdown (5Y) Largest decline over 5 years	-35.36%	—	—
Current Drawdown Current decline from peak	-8.06%	0.00%	-8.06%
Average Drawdown Average peak-to-trough decline	-8.16%	-2.61%	-5.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.28%	2.35%	+3.93%

Volatility

TBLU vs. DFSU - Volatility Comparison

Tortoise Global Water Fund (TBLU) has a higher volatility of 4.10% compared to Dimensional US Sustainability Core 1 ETF (DFSU) at 3.05%. This indicates that TBLU's price experiences larger fluctuations and is considered to be riskier than DFSU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TBLU	DFSU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	3.05%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	11.91%	10.26%	+1.65%
Volatility (1Y) Calculated over the trailing 1-year period	14.84%	13.30%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.38%	16.16%	+1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.92%	16.16%	+2.76%

TBLU vs. DFSU - Expense Ratio Comparison

TBLU has a 0.40% expense ratio, which is higher than DFSU's 0.18% expense ratio.

Dividends

TBLU vs. DFSU - Dividend Comparison

TBLU's dividend yield for the trailing twelve months is around 3.47%, more than DFSU's 0.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFSU Dimensional US Sustainability Core 1 ETF	0.82%	0.85%	0.96%	1.03%	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%
TBLU Tortoise Global Water Fund	3.47%	3.31%	1.34%	1.46%	1.64%	1.55%	1.42%	1.58%	1.35%	1.32%

Frequently Asked Questions

Can I hold both TBLU and DFSU in my portfolio?

TBLU and DFSU have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TBLU or DFSU?

TBLU has higher volatility (4.10%) compared to DFSU (3.05%). In terms of maximum drawdown, TBLU dropped -37.58% vs DFSU's -19.88%.

Which ETF is better, TBLU or DFSU?

On 3-year performance, DFSU leads with 18.84% vs 9.28% for TBLU. On fees, DFSU is cheaper at 0.18% per year. On volatility, DFSU has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TBLU or DFSU?

Over the 3-year period, DFSU has performed better with a 18.84% return vs 9.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TBLU or DFSU?

DFSU is cheaper with a 0.18% expense ratio, compared with 0.40% for TBLU.

Which ETF pays a higher dividend yield, TBLU or DFSU?

TBLU has the higher dividend yield at 3.47%, compared with 0.82% for DFSU.

What is the main difference between TBLU and DFSU?

TBLU is categorized as Water Equities, while DFSU is Large Cap Blend Equities. They also come from different issuers: Tortoise and Dimensional. Their fees differ too: 0.40% for TBLU and 0.18% for DFSU.

Which has better risk-adjusted returns?

DFSU currently has the higher Sharpe Ratio (1.63 vs 0.06), 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.