VSIIX vs. DFGBX

Last updated Jul 15, 2026

VSIIX (Vanguard Small-Cap Value Index Fund Institutional Shares) and DFGBX (DFA Five Year Global Fixed Income Portfolio) are both mutual funds - VSIIX is a Small Cap Value Equities fund managed by Vanguard, while DFGBX is a Global Bonds fund managed by Dimensional. Over the past 10 years, VSIIX returned 10.54%/yr vs 1.24%/yr for DFGBX. At a correlation of -0.19, they often move in opposite directions. VSIIX charges 0.06%/yr vs 0.23%/yr for DFGBX.

Performance

VSIIX vs. DFGBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) and DFA Five Year Global Fixed Income Portfolio (DFGBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSIIX achieves a 15.29% return, which is significantly higher than DFGBX's 1.40% return. Over the past 10 years, VSIIX has outperformed DFGBX with an annualized return of 10.54%, while DFGBX has yielded a comparatively lower 1.24% annualized return.

VSIIX

• 1D: -0.09%
• 1M: 0.61%
• 6M: 10.05%
• YTD: 15.29%
• 1Y: 22.24%
• 3Y*: 15.16%
• 5Y*: 9.66%
• 10Y*: 10.54%

DFGBX

• 1D: -0.20%
• 1M: 0.05%
• 6M: 1.10%
• YTD: 1.40%
• 1Y: 3.34%
• 3Y*: 4.18%
• 5Y*: 1.24%
• 10Y*: 1.24%

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

VSIIX vs. DFGBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares	15.29%	9.10%	11.37%	17.06%	-9.31%	28.12%	5.81%	22.81%	-12.24%	11.80%
DFGBX DFA Five Year Global Fixed Income Portfolio	1.40%	3.13%	5.37%	5.00%	-6.63%	-1.03%	1.52%	4.04%	1.68%	0.88%

Correlation

The correlation between VSIIX and DFGBX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Dec 7, 1999	-0.19

The correlation between VSIIX and DFGBX shifts across timeframes, from -0.19 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VSIIX vs. DFGBX — Risk / Return Rank

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

VSIIX

VSIIX Risk / Return Rank: 53
VSIIX Sharpe Ratio Rank: 45
VSIIX Sortino Ratio Rank: 49
VSIIX Omega Ratio Rank: 42
VSIIX Calmar Ratio Rank: 69
VSIIX Martin Ratio Rank: 59

DFGBX

DFGBX Risk / Return Rank: 76
DFGBX Sharpe Ratio Rank: 84
DFGBX Sortino Ratio Rank: 86
DFGBX Omega Ratio Rank: 91
DFGBX Calmar Ratio Rank: 65
DFGBX Martin Ratio Rank: 54

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.

VSIIX vs. DFGBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) and DFA Five Year Global Fixed Income Portfolio (DFGBX). 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.

	VSIIX	DFGBX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.20	-0.70
Sortino ratio: Return per unit of downside risk	2.24	3.36	-1.12
Omega ratio: Gain probability vs. loss probability	1.26	1.56	-0.30
Calmar ratio: Return relative to maximum drawdown	2.55	2.45	+0.10
Martin ratio: Return relative to average drawdown	9.05	8.63	+0.42

VSIIX vs. DFGBX - Sharpe Ratio Comparison

The current VSIIX Sharpe Ratio is 1.50, which is lower than the DFGBX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of VSIIX and DFGBX, 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

VSIIX vs. DFGBX - Drawdown Comparison

The maximum VSIIX drawdown since its inception was -62.05%, which is greater than DFGBX's maximum drawdown of -9.63%. Use the drawdown chart below to compare losses from any high point for VSIIX and DFGBX.

Drawdown Indicators

	VSIIX	DFGBX	Difference
Max Drawdown Largest peak-to-trough decline	-62.05%	-9.63%	-52.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-1.38%	-7.49%
Max Drawdown (3Y) Largest decline over 3 years	-24.09%	-1.67%	-22.42%
Max Drawdown (5Y) Largest decline over 5 years	-24.09%	-9.63%	-14.46%
Max Drawdown (10Y) Largest decline over 10 years	-45.38%	-9.63%	-35.75%
Current Drawdown Current decline from peak	-0.74%	-0.40%	-0.34%
Average Drawdown Average peak-to-trough decline	-8.49%	-0.93%	-7.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	0.39%	+2.10%

Volatility

VSIIX vs. DFGBX - Volatility Comparison

Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) has a higher volatility of 3.60% compared to DFA Five Year Global Fixed Income Portfolio (DFGBX) at 0.52%. This indicates that VSIIX's price experiences larger fluctuations and is considered to be riskier than DFGBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSIIX	DFGBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	0.52%	+3.08%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	1.38%	+9.07%
Volatility (1Y) Calculated over the trailing 1-year period	15.12%	1.53%	+13.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	2.20%	+17.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.75%	1.92%	+19.83%

VSIIX vs. DFGBX - Expense Ratio Comparison

VSIIX has a 0.06% expense ratio, which is lower than DFGBX's 0.23% 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

VSIIX vs. DFGBX - Dividend Comparison

VSIIX's dividend yield for the trailing twelve months is around 1.79%, less than DFGBX's 4.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGBX DFA Five Year Global Fixed Income Portfolio	4.62%	2.91%	4.69%	3.61%	1.63%	0.73%	0.03%	2.30%	4.74%	0.89%	1.16%	1.72%
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares	1.79%	1.96%	1.99%	2.10%	2.04%	1.76%	1.69%	2.07%	2.36%	1.80%	1.77%	1.99%

Frequently Asked Questions

Can I hold both VSIIX and DFGBX in my portfolio?

VSIIX and DFGBX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSIIX or DFGBX?

VSIIX has higher volatility (3.60%) compared to DFGBX (0.52%). In terms of maximum drawdown, VSIIX dropped -62.05% vs DFGBX's -9.63%.

Which has better risk-adjusted returns?

DFGBX currently has the higher Sharpe Ratio (2.20 vs 1.50), 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.