VSCPX vs. DFEVX

Last updated Jun 24, 2026

VSCPX (Vanguard Small-Cap Index Fund Institutional Plus Shares) and DFEVX (DFA Emerging Markets Value Portfolio) are both mutual funds - VSCPX is a Small Cap Blend Equities fund managed by Vanguard, while DFEVX is a Emerging Markets Diversified fund managed by Dimensional. Over the past 10 years, VSCPX returned 11.80%/yr vs 11.68%/yr for DFEVX. A 0.63 correlation means they provide meaningful diversification when combined. VSCPX charges 0.03%/yr vs 0.45%/yr for DFEVX.

Performance

VSCPX vs. DFEVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Index Fund Institutional Plus Shares (VSCPX) and DFA Emerging Markets Value Portfolio (DFEVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSCPX achieves a 15.73% return, which is significantly lower than DFEVX's 24.53% return. Both investments have delivered pretty close results over the past 10 years, with VSCPX having a 11.80% annualized return and DFEVX not far behind at 11.68%.

VSCPX

• 1D: 0.25%
• 1M: 2.87%
• YTD: 15.73%
• 6M: 13.58%
• 1Y: 29.08%
• 3Y*: 17.55%
• 5Y*: 7.39%
• 10Y*: 11.80%

DFEVX

• 1D: -0.32%
• 1M: 5.11%
• YTD: 24.53%
• 6M: 25.55%
• 1Y: 45.35%
• 3Y*: 22.91%
• 5Y*: 11.74%
• 10Y*: 11.68%

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

VSCPX vs. DFEVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSCPX Vanguard Small-Cap Index Fund Institutional Plus Shares	15.73%	8.86%	12.98%	19.52%	-17.59%	17.75%	19.09%	27.40%	-9.31%	16.27%
DFEVX DFA Emerging Markets Value Portfolio	24.53%	29.50%	6.17%	16.50%	-10.77%	12.42%	2.73%	9.64%	-11.92%	33.77%

Correlation

The correlation between VSCPX and DFEVX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Dec 13, 2010	0.63

The correlation between VSCPX and DFEVX shifts across timeframes, from 0.53 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VSCPX vs. DFEVX — Risk / Return Rank

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

VSCPX

VSCPX Risk / Return Rank: 56
VSCPX Sharpe Ratio Rank: 45
VSCPX Sortino Ratio Rank: 45
VSCPX Omega Ratio Rank: 40
VSCPX Calmar Ratio Rank: 79
VSCPX Martin Ratio Rank: 69

DFEVX

DFEVX Risk / Return Rank: 88
DFEVX Sharpe Ratio Rank: 94
DFEVX Sortino Ratio Rank: 87
DFEVX Omega Ratio Rank: 88
DFEVX Calmar Ratio Rank: 87
DFEVX Martin Ratio Rank: 85

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.

VSCPX vs. DFEVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Index Fund Institutional Plus Shares (VSCPX) and DFA Emerging Markets Value Portfolio (DFEVX). 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.

	VSCPX	DFEVX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.97	-1.15
Sortino ratio: Return per unit of downside risk	2.59	3.84	-1.25
Omega ratio: Gain probability vs. loss probability	1.31	1.57	-0.26
Calmar ratio: Return relative to maximum drawdown	3.39	4.05	-0.66
Martin ratio: Return relative to average drawdown	12.46	14.84	-2.38

VSCPX vs. DFEVX - Sharpe Ratio Comparison

The current VSCPX Sharpe Ratio is 1.83, which is lower than the DFEVX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of VSCPX and DFEVX, 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

VSCPX vs. DFEVX - Drawdown Comparison

The maximum VSCPX drawdown since its inception was -41.81%, smaller than the maximum DFEVX drawdown of -67.59%. Use the drawdown chart below to compare losses from any high point for VSCPX and DFEVX.

Drawdown Indicators

	VSCPX	DFEVX	Difference
Max Drawdown Largest peak-to-trough decline	-41.81%	-67.59%	+25.78%
Max Drawdown (1Y) Largest decline over 1 year	-8.97%	-11.35%	+2.38%
Max Drawdown (3Y) Largest decline over 3 years	-25.25%	-16.17%	-9.08%
Max Drawdown (5Y) Largest decline over 5 years	-28.13%	-23.49%	-4.64%
Max Drawdown (10Y) Largest decline over 10 years	-41.81%	-47.53%	+5.72%
Current Drawdown Current decline from peak	-0.33%	-0.94%	+0.61%
Average Drawdown Average peak-to-trough decline	-6.47%	-16.46%	+9.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	3.09%	-0.66%

Volatility

VSCPX vs. DFEVX - Volatility Comparison

The current volatility for Vanguard Small-Cap Index Fund Institutional Plus Shares (VSCPX) is 4.96%, while DFA Emerging Markets Value Portfolio (DFEVX) has a volatility of 7.78%. This indicates that VSCPX experiences smaller price fluctuations and is considered to be less risky than DFEVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSCPX	DFEVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	7.78%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	12.22%	13.62%	-1.40%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	15.50%	+1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.76%	14.23%	+6.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.60%	15.65%	+5.95%

VSCPX vs. DFEVX - Expense Ratio Comparison

VSCPX has a 0.03% expense ratio, which is lower than DFEVX's 0.45% expense ratio.

Dividends

VSCPX vs. DFEVX - Dividend Comparison

VSCPX's dividend yield for the trailing twelve months is around 1.19%, less than DFEVX's 3.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFEVX DFA Emerging Markets Value Portfolio	3.01%	3.80%	4.68%	4.39%	4.44%	3.82%	2.47%	2.47%	2.49%	2.45%	1.99%	2.55%
VSCPX Vanguard Small-Cap Index Fund Institutional Plus Shares	1.19%	1.35%	1.32%	1.56%	1.56%	1.26%	1.16%	1.41%	1.69%	1.37%	1.52%	1.51%

Frequently Asked Questions

Can I hold both VSCPX and DFEVX in my portfolio?

VSCPX and DFEVX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSCPX or DFEVX?

DFEVX has higher volatility (7.78%) compared to VSCPX (4.96%). In terms of maximum drawdown, VSCPX dropped -41.81% vs DFEVX's -67.59%.

Which has better risk-adjusted returns?

DFEVX currently has the higher Sharpe Ratio (2.97 vs 1.82), 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.