VDVIX vs. DFWVX

Last updated Jul 11, 2026

VDVIX (Vanguard Developed Markets Index Fund Investor Shares) and DFWVX (DFA World ex U.S. Value Portfolio Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, VDVIX returned 10.20%/yr vs 29.34%/yr for DFWVX. Their correlation of 0.94 suggests significant overlap in exposure. VDVIX charges 0.16%/yr vs 0.40%/yr for DFWVX.

Performance

VDVIX vs. DFWVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Developed Markets Index Fund Investor Shares (VDVIX) and DFA World ex U.S. Value Portfolio Fund (DFWVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VDVIX having a 13.91% return and DFWVX slightly higher at 13.97%. Over the past 10 years, VDVIX has underperformed DFWVX with an annualized return of 10.20%, while DFWVX has yielded a comparatively higher 29.34% annualized return.

VDVIX

• 1D: 0.69%
• 1M: -0.58%
• 6M: 10.29%
• YTD: 13.91%
• 1Y: 27.75%
• 3Y*: 19.42%
• 5Y*: 9.61%
• 10Y*: 10.20%

DFWVX

• 1D: 0.31%
• 1M: -1.27%
• 6M: 11.64%
• YTD: 13.97%
• 1Y: 31.18%
• 3Y*: 22.51%
• 5Y*: 16.61%
• 10Y*: 29.34%

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

VDVIX vs. DFWVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VDVIX Vanguard Developed Markets Index Fund Investor Shares	13.91%	34.96%	2.95%	17.59%	-15.41%	11.31%	10.10%	21.95%	-14.59%	26.30%
DFWVX DFA World ex U.S. Value Portfolio Fund	13.97%	40.30%	6.66%	17.37%	-6.41%	32.65%	-0.40%	344.89%	-16.69%	28.21%

Correlation

The correlation between VDVIX and DFWVX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 20, 2013	0.94

The correlation between VDVIX and DFWVX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

VDVIX vs. DFWVX — Risk / Return Rank

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

VDVIX

VDVIX Risk / Return Rank: 53
VDVIX Sharpe Ratio Rank: 54
VDVIX Sortino Ratio Rank: 50
VDVIX Omega Ratio Rank: 53
VDVIX Calmar Ratio Rank: 56
VDVIX Martin Ratio Rank: 54

DFWVX

DFWVX Risk / Return Rank: 83
DFWVX Sharpe Ratio Rank: 86
DFWVX Sortino Ratio Rank: 81
DFWVX Omega Ratio Rank: 82
DFWVX Calmar Ratio Rank: 84
DFWVX Martin Ratio Rank: 80

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.

VDVIX vs. DFWVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Developed Markets Index Fund Investor Shares (VDVIX) and DFA World ex U.S. Value Portfolio Fund (DFWVX). 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.

	VDVIX	DFWVX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.27	-0.63
Sortino ratio: Return per unit of downside risk	2.25	3.06	-0.81
Omega ratio: Gain probability vs. loss probability	1.30	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	2.30	3.16	-0.86
Martin ratio: Return relative to average drawdown	8.72	11.30	-2.57

VDVIX vs. DFWVX - Sharpe Ratio Comparison

The current VDVIX Sharpe Ratio is 1.64, which is comparable to the DFWVX Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of VDVIX and DFWVX, 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

VDVIX vs. DFWVX - Drawdown Comparison

The maximum VDVIX drawdown since its inception was -35.78%, smaller than the maximum DFWVX drawdown of -41.32%. Use the drawdown chart below to compare losses from any high point for VDVIX and DFWVX.

Drawdown Indicators

	VDVIX	DFWVX	Difference
Max Drawdown Largest peak-to-trough decline	-35.78%	-41.32%	+5.54%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-9.91%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-13.21%	-14.11%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-29.85%	-24.59%	-5.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.78%	-41.32%	+5.54%
Current Drawdown Current decline from peak	-2.22%	-2.84%	+0.62%
Average Drawdown Average peak-to-trough decline	-7.13%	-7.05%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.76%	+0.33%

Volatility

VDVIX vs. DFWVX - Volatility Comparison

Vanguard Developed Markets Index Fund Investor Shares (VDVIX) has a higher volatility of 6.49% compared to DFA World ex U.S. Value Portfolio Fund (DFWVX) at 5.33%. This indicates that VDVIX's price experiences larger fluctuations and is considered to be riskier than DFWVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VDVIX	DFWVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	5.33%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	11.97%	+2.35%
Volatility (1Y) Calculated over the trailing 1-year period	16.45%	13.79%	+2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.17%	16.18%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.38%	34.78%	-18.40%

VDVIX vs. DFWVX - Expense Ratio Comparison

VDVIX has a 0.16% expense ratio, which is lower than DFWVX's 0.40% expense ratio.

Dividends

VDVIX vs. DFWVX - Dividend Comparison

VDVIX's dividend yield for the trailing twelve months is around 2.45%, less than DFWVX's 3.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFWVX DFA World ex U.S. Value Portfolio Fund	3.39%	3.66%	4.28%	4.30%	3.75%	15.97%	2.43%	110.54%	5.26%	2.70%	2.92%	2.77%
VDVIX Vanguard Developed Markets Index Fund Investor Shares	2.45%	3.11%	3.24%	3.05%	2.78%	3.04%	1.94%	2.94%	3.22%	2.68%	2.95%	2.79%

Frequently Asked Questions

Can I hold both VDVIX and DFWVX in my portfolio?

With a correlation of 0.90, VDVIX and DFWVX 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.

Which is riskier, VDVIX or DFWVX?

VDVIX has higher volatility (6.49%) compared to DFWVX (5.33%). In terms of maximum drawdown, VDVIX dropped -35.78% vs DFWVX's -41.32%.

Which has better risk-adjusted returns?

DFWVX currently has the higher Sharpe Ratio (2.27 vs 1.64), 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.