VBR vs. DFFVX
VBR (Vanguard Small-Cap Value ETF) and DFFVX (DFA U.S. Targeted Value Portfolio) are both Small Cap Value Equities funds. Over the past 10 years, VBR returned 11.55%/yr vs 11.67%/yr for DFFVX. With a 0.97 correlation, they move nearly in lockstep. VBR charges 0.05%/yr vs 0.29%/yr for DFFVX.
Performance
VBR vs. DFFVX - Performance Comparison
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Returns By Period
In the year-to-date period, VBR achieves a 15.13% return, which is significantly lower than DFFVX's 16.87% return. Both investments have delivered pretty close results over the past 10 years, with VBR having a 11.55% annualized return and DFFVX not far ahead at 11.67%.
VBR
- 1D
- 0.81%
- 1M
- 3.04%
- YTD
- 15.13%
- 6M
- 13.26%
- 1Y
- 28.31%
- 3Y*
- 17.12%
- 5Y*
- 8.78%
- 10Y*
- 11.55%
DFFVX
- 1D
- 0.89%
- 1M
- 2.31%
- YTD
- 16.87%
- 6M
- 14.91%
- 1Y
- 32.99%
- 3Y*
- 18.11%
- 5Y*
- 9.65%
- 10Y*
- 11.67%
VBR vs. DFFVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBR Vanguard Small-Cap Value ETF | 15.13% | 9.09% | 12.40% | 16.00% | -9.38% | 28.08% | 5.90% | 22.78% | -12.28% | 11.81% |
DFFVX DFA U.S. Targeted Value Portfolio | 16.87% | 9.53% | 9.34% | 19.37% | -4.66% | 31.53% | 3.78% | 21.51% | -15.79% | 9.20% |
Correlation
The correlation between VBR and DFFVX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004 | 0.97 |
The correlation between VBR and DFFVX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
VBR vs. DFFVX — Risk / Return Rank
VBR
DFFVX
VBR vs. DFFVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) and DFA U.S. Targeted Value Portfolio (DFFVX). 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.
| VBR | DFFVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.33 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 3.28 | -0.07 |
| Martin ratioReturn relative to average drawdown | 11.35 | 10.65 | +0.70 |
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Drawdowns
VBR vs. DFFVX - Drawdown Comparison
The maximum VBR drawdown since its inception was -61.98%, roughly equal to the maximum DFFVX drawdown of -64.21%. Use the drawdown chart below to compare losses from any high point for VBR and DFFVX.
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Drawdown Indicators
| VBR | DFFVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.98% | -64.21% | +2.23% |
Max Drawdown (1Y)Largest decline over 1 year | -8.85% | -9.70% | +0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -24.19% | -26.09% | +1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -24.19% | -26.09% | +1.90% |
Max Drawdown (10Y)Largest decline over 10 years | -45.28% | -50.75% | +5.47% |
Current DrawdownCurrent decline from peak | 0.00% | -0.62% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -8.25% | -9.69% | +1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 2.98% | -0.48% |
Volatility
VBR vs. DFFVX - Volatility Comparison
Vanguard Small-Cap Value ETF (VBR) and DFA U.S. Targeted Value Portfolio (DFFVX) have volatilities of 3.90% and 4.00%, 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.
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Volatility by Period
| VBR | DFFVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 4.00% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 10.69% | 11.14% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.29% | 17.03% | -1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.73% | 21.47% | -1.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.71% | 23.62% | -1.91% |
VBR vs. DFFVX - Expense Ratio Comparison
VBR has a 0.05% expense ratio, which is lower than DFFVX's 0.29% expense ratio.
Dividends
VBR vs. DFFVX - Dividend Comparison
VBR's dividend yield for the trailing twelve months is around 1.71%, more than DFFVX's 1.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFFVX DFA U.S. Targeted Value Portfolio | 1.47% | 1.69% | 1.40% | 2.26% | 5.17% | 2.74% | 1.52% | 3.82% | 5.95% | 5.16% | 3.95% | 5.84% |
VBR Vanguard Small-Cap Value ETF | 1.71% | 1.95% | 1.98% | 2.12% | 2.03% | 1.75% | 1.68% | 2.06% | 2.35% | 1.79% | 1.77% | 1.99% |
Frequently Asked Questions
With a correlation of 0.97, VBR and DFFVX 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.
DFFVX has higher volatility (4.00%) compared to VBR (3.90%). In terms of maximum drawdown, VBR dropped -61.98% vs DFFVX's -64.21%.
DFFVX currently has the higher Sharpe Ratio (1.87 vs 1.86), 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.
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