VFFSX vs. DFSIX

Last updated Jun 4, 2026

VFFSX (Vanguard 500 Index Fund Institutional Select Shares) and DFSIX (DFA U.S. Sustainability Core 1 Portfolio) are both Large Cap Blend Equities funds. Over the past 5 years, VFFSX returned 14.27%/yr vs 12.15%/yr for DFSIX. With a 0.97 correlation, they move nearly in lockstep. VFFSX charges 0.01%/yr vs 0.18%/yr for DFSIX.

Performance

VFFSX vs. DFSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard 500 Index Fund Institutional Select Shares (VFFSX) and DFA U.S. Sustainability Core 1 Portfolio (DFSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFFSX achieves a 11.71% return, which is significantly higher than DFSIX's 7.75% return.

VFFSX

• 1D: 0.13%
• 1M: 5.80%
• YTD: 11.71%
• 6M: 11.74%
• 1Y: 28.99%
• 3Y*: 22.76%
• 5Y*: 14.27%
• 10Y*: —

DFSIX

• 1D: 0.27%
• 1M: 4.53%
• YTD: 7.75%
• 6M: 7.84%
• 1Y: 24.41%
• 3Y*: 20.68%
• 5Y*: 12.15%
• 10Y*: 14.91%

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

VFFSX vs. DFSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFFSX Vanguard 500 Index Fund Institutional Select Shares	11.71%	17.87%	25.00%	26.28%	-18.14%	29.24%	18.35%	31.88%	-4.42%	20.80%
DFSIX DFA U.S. Sustainability Core 1 Portfolio	7.75%	15.92%	23.19%	25.70%	-17.85%	27.38%	21.25%	32.52%	-6.72%	19.80%

Correlation

The correlation between VFFSX and DFSIX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.97

The correlation between VFFSX and DFSIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

VFFSX vs. DFSIX — Risk / Return Rank

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

VFFSX

VFFSX Risk / Return Rank: 73
VFFSX Sharpe Ratio Rank: 76
VFFSX Sortino Ratio Rank: 67
VFFSX Omega Ratio Rank: 67
VFFSX Calmar Ratio Rank: 74
VFFSX Martin Ratio Rank: 83

DFSIX

DFSIX Risk / Return Rank: 47
DFSIX Sharpe Ratio Rank: 48
DFSIX Sortino Ratio Rank: 47
DFSIX Omega Ratio Rank: 45
DFSIX Calmar Ratio Rank: 43
DFSIX Martin Ratio Rank: 53

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.

VFFSX vs. DFSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard 500 Index Fund Institutional Select Shares (VFFSX) and DFA U.S. Sustainability Core 1 Portfolio (DFSIX). 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.

	VFFSX	DFSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.03	+0.49
Sortino ratio: Return per unit of downside risk	3.42	2.88	+0.54
Omega ratio: Gain probability vs. loss probability	1.46	1.36	+0.10
Calmar ratio: Return relative to maximum drawdown	3.36	2.49	+0.87
Martin ratio: Return relative to average drawdown	15.70	10.76	+4.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VFFSX vs. DFSIX - Sharpe Ratio Comparison

The current VFFSX Sharpe Ratio is 2.52, which is comparable to the DFSIX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of VFFSX and DFSIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VFFSX	DFSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	2.03	+0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.70	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.58	+0.28

Drawdowns

VFFSX vs. DFSIX - Drawdown Comparison

The maximum VFFSX drawdown since its inception was -33.82%, smaller than the maximum DFSIX drawdown of -53.77%. Use the drawdown chart below to compare losses from any high point for VFFSX and DFSIX.

Drawdown Indicators

	VFFSX	DFSIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.82%	-53.77%	+19.95%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-10.36%	+1.46%
Max Drawdown (3Y) Largest decline over 3 years	-18.75%	-20.13%	+1.38%
Max Drawdown (5Y) Largest decline over 5 years	-24.51%	-25.16%	+0.65%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.68%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.50%	-6.89%	+2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.38%	-0.48%

Volatility

VFFSX vs. DFSIX - Volatility Comparison

The current volatility for Vanguard 500 Index Fund Institutional Select Shares (VFFSX) is 2.83%, while DFA U.S. Sustainability Core 1 Portfolio (DFSIX) has a volatility of 3.10%. This indicates that VFFSX experiences smaller price fluctuations and is considered to be less risky than DFSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFFSX	DFSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	3.10%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	9.73%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	11.86%	12.67%	-0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	17.57%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	18.28%	+0.13%

VFFSX vs. DFSIX - Expense Ratio Comparison

VFFSX has a 0.01% expense ratio, which is lower than DFSIX's 0.18% 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

VFFSX vs. DFSIX - Dividend Comparison

VFFSX's dividend yield for the trailing twelve months is around 1.03%, more than DFSIX's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFSIX DFA U.S. Sustainability Core 1 Portfolio	0.83%	0.88%	0.99%	1.21%	1.35%	2.13%	1.19%	2.02%	2.31%	1.92%	1.85%	2.13%
VFFSX Vanguard 500 Index Fund Institutional Select Shares	1.03%	1.14%	1.24%	1.46%	1.70%	1.61%	1.56%	2.15%	2.09%	1.81%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VFFSX and DFSIX in my portfolio?

With a correlation of 0.94, VFFSX and DFSIX 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, VFFSX or DFSIX?

DFSIX has higher volatility (3.10%) compared to VFFSX (2.83%). In terms of maximum drawdown, VFFSX dropped -33.82% vs DFSIX's -53.77%.

Which has better risk-adjusted returns?

VFFSX currently has the higher Sharpe Ratio (2.52 vs 2.03), 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.