VTWAX vs. DFAW

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) and Dimensional World Equity ETF (DFAW).

VTWAX is managed by Vanguard. It was launched on Feb 7, 2019. DFAW is an actively managed fund by Dimensional. It was launched on Sep 26, 2023.

Performance

VTWAX vs. DFAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) and Dimensional World Equity ETF (DFAW). The values are adjusted to include any dividend payments, if applicable.

VTWAX vs. DFAW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VTWAX Vanguard Total World Stock Index Fund Admiral Shares	-1.90%	22.43%	16.43%	11.70%
DFAW Dimensional World Equity ETF	0.66%	20.62%	15.49%	11.57%

Returns By Period

In the year-to-date period, VTWAX achieves a -1.90% return, which is significantly lower than DFAW's 0.66% return.

VTWAX

• 1D: 2.93%
• 1M: -5.95%
• YTD: -1.90%
• 6M: 0.73%
• 1Y: 20.91%
• 3Y*: 16.76%
• 5Y*: 9.17%
• 10Y*: —

DFAW

• 1D: 0.70%
• 1M: -4.68%
• YTD: 0.66%
• 6M: 4.05%
• 1Y: 23.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VTWAX vs. DFAW - Expense Ratio Comparison

VTWAX has a 0.10% expense ratio, which is lower than DFAW's 0.25% 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%.

DFAW

Dimensional World Equity ETF

VTWAX

Vanguard Total World Stock Index Fund Admiral Shares

Return for Risk

VTWAX vs. DFAW — Risk / Return Rank

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

VTWAX

VTWAX Risk / Return Rank: 75
VTWAX Sharpe Ratio Rank: 71
VTWAX Sortino Ratio Rank: 73
VTWAX Omega Ratio Rank: 72
VTWAX Calmar Ratio Rank: 76
VTWAX Martin Ratio Rank: 83

DFAW

DFAW Risk / Return Rank: 75
DFAW Sharpe Ratio Rank: 73
DFAW Sortino Ratio Rank: 76
DFAW Omega Ratio Rank: 76
DFAW Calmar Ratio Rank: 72
DFAW 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.

VTWAX vs. DFAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) and Dimensional World Equity ETF (DFAW). 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.

	VTWAX	DFAW	Difference
Sharpe ratio Return per unit of total volatility	1.28	1.35	-0.07
Sortino ratio Return per unit of downside risk	1.86	1.98	-0.12
Omega ratio Gain probability vs. loss probability	1.28	1.30	-0.02
Calmar ratio Return relative to maximum drawdown	1.82	1.92	-0.10
Martin ratio Return relative to average drawdown	8.43	9.17	-0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTWAX vs. DFAW - Sharpe Ratio Comparison

The current VTWAX Sharpe Ratio is 1.28, which is comparable to the DFAW Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of VTWAX and DFAW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VTWAX	DFAW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	1.35	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	1.35	-0.68

Correlation

The correlation between VTWAX and DFAW is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VTWAX vs. DFAW - Dividend Comparison

VTWAX's dividend yield for the trailing twelve months is around 1.79%, more than DFAW's 1.73% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
VTWAX Vanguard Total World Stock Index Fund Admiral Shares	1.79%	1.80%	1.92%	2.06%	2.17%	1.79%	1.64%	2.28%
DFAW Dimensional World Equity ETF	1.73%	1.71%	1.47%	0.42%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VTWAX vs. DFAW - Drawdown Comparison

The maximum VTWAX drawdown since its inception was -34.20%, which is greater than DFAW's maximum drawdown of -16.93%. Use the drawdown chart below to compare losses from any high point for VTWAX and DFAW.

Drawdown Indicators

	VTWAX	DFAW	Difference
Max Drawdown Largest peak-to-trough decline	-34.20%	-16.93%	-17.27%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-12.24%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-26.40%	—	—
Current Drawdown Current decline from peak	-7.00%	-5.51%	-1.49%
Average Drawdown Average peak-to-trough decline	-5.40%	-1.76%	-3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.56%	-0.03%

Volatility

VTWAX vs. DFAW - Volatility Comparison

Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) has a higher volatility of 6.09% compared to Dimensional World Equity ETF (DFAW) at 5.67%. This indicates that VTWAX's price experiences larger fluctuations and is considered to be riskier than DFAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTWAX	DFAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	5.67%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	9.47%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	16.76%	17.15%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.66%	14.57%	+1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.29%	14.57%	+3.72%