VBK vs. DFSTX

Last updated Aug 4, 2026

VBK (Vanguard Small-Cap Growth ETF) and DFSTX (DFA U.S. Small Cap Portfolio) are both funds - VBK is a Small Cap Growth Equities fund tracking the CRSP US Small Cap Growth Index, while DFSTX is a Small Cap Blend Equities fund actively managed by Dimensional. VBK is passively managed, while DFSTX is actively managed. Over the past 10 years, VBK returned 10.92%/yr vs 10.97%/yr for DFSTX. Their correlation of 0.92 means they have usually moved in the same direction. VBK charges 0.05%/yr vs 0.27%/yr for DFSTX.

Performance

VBK vs. DFSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Growth ETF (VBK) and DFA U.S. Small Cap Portfolio (DFSTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBK achieves a 14.98% return, which is significantly lower than DFSTX's 17.73% return. Both investments have delivered pretty close results over the past 10 years, with VBK having a 10.92% annualized return and DFSTX not far ahead at 10.97%.

VBK

• 1D: 1.81%
• 1M: -3.14%
• 6M: 10.32%
• YTD: 14.98%
• 1Y: 25.41%
• 3Y*: 15.04%
• 5Y*: 4.55%
• 10Y*: 10.92%
• ALL TIME*: 9.83%

DFSTX

• 1D: -0.03%
• 1M: -0.50%
• 6M: 10.40%
• YTD: 17.73%
• 1Y: 29.36%
• 3Y*: 14.01%
• 5Y*: 9.16%
• 10Y*: 10.97%
• ALL TIME*: 10.48%

*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)
DFSTX DFA U.S. Small Cap Portfolio	$0.00	$0.00	$0.00
VBK Vanguard Small-Cap Growth ETF	$70.46M	$72.06M	$83.50M

VBK vs. DFSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBK Vanguard Small-Cap Growth ETF	14.98%	8.50%	16.50%	21.45%	-28.44%	5.66%	35.44%	32.75%	-5.70%	21.87%
DFSTX DFA U.S. Small Cap Portfolio	17.73%	8.07%	11.50%	17.66%	-13.50%	30.50%	11.19%	21.78%	-13.20%	11.19%

Correlation

The correlation between VBK and DFSTX 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.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.92

The correlation between VBK and DFSTX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

Return for Risk

VBK vs. DFSTX — Risk / Return Rank

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

VBK

VBK Risk / Return Rank: 54
VBK Sharpe Ratio Rank: 50
VBK Sortino Ratio Rank: 50
VBK Omega Ratio Rank: 46
VBK Calmar Ratio Rank: 62
VBK Martin Ratio Rank: 61

DFSTX

DFSTX Risk / Return Rank: 72
DFSTX Sharpe Ratio Rank: 66
DFSTX Sortino Ratio Rank: 70
DFSTX Omega Ratio Rank: 59
DFSTX Calmar Ratio Rank: 84
DFSTX Martin Ratio Rank: 81

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.

VBK vs. DFSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Growth ETF (VBK) and DFA U.S. Small Cap Portfolio (DFSTX). 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.

	VBK	DFSTX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.65	-0.39
Sortino ratio: Return per unit of downside risk	1.81	2.46	-0.65
Omega ratio: Gain probability vs. loss probability	1.22	1.29	-0.07
Calmar ratio: Return relative to maximum drawdown	2.23	2.99	-0.76
Martin ratio: Return relative to average drawdown	7.52	10.27	-2.75

VBK vs. DFSTX - Sharpe Ratio Comparison

The current VBK Sharpe Ratio is 1.25, which is comparable to the DFSTX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of VBK and DFSTX, 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

VBK vs. DFSTX - Drawdown Comparison

The maximum VBK drawdown since its inception was -58.68%, roughly equal to the maximum DFSTX drawdown of -60.99%. Use the drawdown chart below to compare losses from any high point for VBK and DFSTX.

Drawdown Indicators

	VBK	DFSTX	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-60.99%	+2.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.44%	-9.16%	-2.28%
Max Drawdown (3Y) Largest decline over 3 years	-27.54%	-25.91%	-1.63%
Max Drawdown (5Y) Largest decline over 5 years	-38.39%	-25.91%	-12.48%
Max Drawdown (10Y) Largest decline over 10 years	-38.70%	-44.78%	+6.08%
Current Drawdown Current decline from peak	-5.22%	-1.70%	-3.52%
Average Drawdown Average peak-to-trough decline	-10.10%	-8.73%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	2.67%	+0.72%

Volatility

VBK vs. DFSTX - Volatility Comparison

Vanguard Small-Cap Growth ETF (VBK) has a higher volatility of 5.46% compared to DFA U.S. Small Cap Portfolio (DFSTX) at 3.47%. This indicates that VBK's price experiences larger fluctuations and is considered to be riskier than DFSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBK	DFSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	3.47%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	15.90%	11.59%	+4.31%
Volatility (1Y) Calculated over the trailing 1-year period	20.39%	16.67%	+3.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.67%	20.42%	+3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.92%	22.01%	+0.91%

VBK vs. DFSTX - Expense Ratio Comparison

VBK has a 0.05% expense ratio, which is lower than DFSTX's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VBK vs. DFSTX - Dividend Comparison

VBK's dividend yield for the trailing twelve months is around 0.44%, less than DFSTX's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFSTX DFA U.S. Small Cap Portfolio	0.97%	1.08%	1.05%	2.45%	5.18%	6.39%	1.08%	3.30%	5.16%	4.56%	3.10%	5.90%
VBK Vanguard Small-Cap Growth ETF	0.44%	0.54%	0.54%	0.68%	0.55%	0.36%	0.44%	0.57%	0.79%	0.82%	1.08%	0.98%

Frequently Asked Questions

Can I hold both VBK and DFSTX in my portfolio?

VBK and DFSTX 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, VBK or DFSTX?

VBK has higher volatility (5.46%) compared to DFSTX (3.47%). In terms of maximum drawdown, VBK dropped -58.68% vs DFSTX's -60.99%.

Which has better risk-adjusted returns?

DFSTX currently has the higher Sharpe Ratio (1.65 vs 1.25), 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.