VO vs. DFSTX
VO (Vanguard Mid-Cap ETF) and DFSTX (DFA U.S. Small Cap Portfolio) are both funds - VO is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index, while DFSTX is a Small Cap Blend Equities fund managed by Dimensional. Over the past 10 years, VO returned 11.77%/yr vs 11.16%/yr for DFSTX. Their correlation of 0.91 suggests significant overlap in exposure. VO charges 0.03%/yr vs 0.27%/yr for DFSTX.
Performance
VO vs. DFSTX - Performance Comparison
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Returns By Period
In the year-to-date period, VO achieves a 10.43% return, which is significantly lower than DFSTX's 15.82% return. Over the past 10 years, VO has outperformed DFSTX with an annualized return of 11.77%, while DFSTX has yielded a comparatively lower 11.16% annualized return.
VO
- 1D
- 0.97%
- 1M
- 2.97%
- YTD
- 10.43%
- 6M
- 9.31%
- 1Y
- 19.60%
- 3Y*
- 15.74%
- 5Y*
- 7.79%
- 10Y*
- 11.77%
DFSTX
- 1D
- 2.42%
- 1M
- 5.56%
- YTD
- 15.82%
- 6M
- 13.14%
- 1Y
- 31.26%
- 3Y*
- 15.72%
- 5Y*
- 8.14%
- 10Y*
- 11.16%
VO vs. DFSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VO Vanguard Mid-Cap ETF | 10.43% | 11.62% | 15.31% | 16.03% | -18.73% | 24.70% | 18.10% | 30.98% | -9.24% | 19.28% |
DFSTX DFA U.S. Small Cap Portfolio | 15.82% | 8.07% | 11.50% | 17.66% | -13.50% | 30.50% | 11.19% | 21.78% | -13.20% | 11.19% |
Correlation
The correlation between VO and DFSTX is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004 | 0.91 |
The correlation between VO and DFSTX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
VO vs. DFSTX — Risk / Return Rank
VO
DFSTX
VO vs. DFSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap ETF (VO) 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.
| VO | DFSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.29 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 3.15 | -0.92 |
| Martin ratioReturn relative to average drawdown | 8.44 | 10.70 | -2.26 |
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Drawdowns
VO vs. DFSTX - Drawdown Comparison
The maximum VO drawdown since its inception was -58.87%, roughly equal to the maximum DFSTX drawdown of -60.99%. Use the drawdown chart below to compare losses from any high point for VO and DFSTX.
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Drawdown Indicators
| VO | DFSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.87% | -60.99% | +2.12% |
Max Drawdown (1Y)Largest decline over 1 year | -8.17% | -9.16% | +0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -19.02% | -25.91% | +6.89% |
Max Drawdown (5Y)Largest decline over 5 years | -27.57% | -25.91% | -1.66% |
Max Drawdown (10Y)Largest decline over 10 years | -39.37% | -44.78% | +5.41% |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -7.85% | -8.76% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 2.70% | -0.54% |
Volatility
VO vs. DFSTX - Volatility Comparison
The current volatility for Vanguard Mid-Cap ETF (VO) is 4.31%, while DFA U.S. Small Cap Portfolio (DFSTX) has a volatility of 5.10%. This indicates that VO experiences smaller price fluctuations and is considered to be less risky than DFSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VO | DFSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 5.10% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 9.71% | 12.02% | -2.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.74% | 17.03% | -4.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.65% | 20.61% | -2.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 22.09% | -3.13% |
VO vs. DFSTX - Expense Ratio Comparison
VO has a 0.03% 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
VO vs. DFSTX - Dividend Comparison
VO's dividend yield for the trailing twelve months is around 1.36%, more than DFSTX's 0.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFSTX DFA U.S. Small Cap Portfolio | 0.94% | 1.08% | 1.05% | 2.45% | 5.18% | 6.39% | 1.08% | 3.30% | 5.16% | 4.56% | 3.10% | 5.90% |
VO Vanguard Mid-Cap ETF | 1.36% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
Frequently Asked Questions
With a correlation of 0.91, VO and DFSTX 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.
DFSTX has higher volatility (5.10%) compared to VO (4.31%). In terms of maximum drawdown, VO dropped -58.87% vs DFSTX's -60.99%.
DFSTX currently has the higher Sharpe Ratio (1.70 vs 1.43), 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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