Dimensional Emerging Core Equity Market ETF (DFAE) Performance
DFAE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +14.1% since Dec 31, 2025
- 1 year
- +15.5% total return
- 5 years
- +8.0% a year
- Since first price
- +8.6% a year since 2020
DFAE trailing returns vs SPY, QQQ, AGG
| Period | DFAE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −7.7% | −7.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.9% | −3.5% | +3.2% | +1.9% | −0.4% |
| 6 months | −0.1% | −1.2% | +7.8% | +8.4% | −1.5% |
| YTD | +14.1% | +12.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.5% | +13.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +79.6%+21.5%/yr | +68.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +47.3%+8.0%/yr | +30.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionDec 2, 2020 | +62.9%+8.6%/yr | +43.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DFAE vs SPY
From Dec 2, 2020: DFAE grew to $16,286, SPY to $22,465.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DFAE returns by calendar year
4 of 5 full years positive. Best 2025 (+31.5%), worst 2022 (−17.5%). 2026 is year to date.
DFAE annual returns table
| Year | DFAE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +14.1% | −13.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +31.5% | −14.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +7.7% | −9.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +12.6% | −11.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −17.5% | −29.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +3.5% | −10.7% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DFAE largest drawdowns
Now 11.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 2, 2021 | −32.2% | Oct 24, 2022 | Sep 26, 2024 | 1.4 years | 3.3 years |
| Oct 7, 2024 | −18.1% | Apr 8, 2025 | Jun 5, 2025 | 6 months | 8 months |
| Jun 22, 2026 | −13.8% | Jul 29, 2026 | not yet | 37 days | 4 months so far |
| Feb 25, 2026 | −12.8% | Mar 30, 2026 | Apr 17, 2026 | 33 days | 51 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DFAE risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +22.9% | +10.2% | +9.3% |
| Volatility (annualized) | 14.9% | 16.9% | 16.1% |
| Sharpe ratio | 1.17 | 0.45 | 0.44 |
| Sortino ratio | 2.16 | 0.74 | 0.71 |
| Best month | +12.6% | +15.0% | +15.0% |
| Worst month | −8.9% | −11.0% | −11.0% |
| Best 12 months | +52.2% | +52.2% | +52.2% |
| Worst 12 months | +7.3% | −26.4% | −26.4% |
| Positive months | 72% | 57% | 58% |
| Beta vs S&P 500 | 0.79 | 0.73 | — |
| Correlation with S&P 500 | 0.66 | 0.67 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DFAE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 59 | −26.4% | +10.8% | +52.2% | 71% |
| 3-year (a year) | 35 | −3.2% | +5.7% | +24.5% | 77% |
| 5-year (a year) | 11 | +6.3% | +8.4% | +10.2% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
DFAE performance overview
Dimensional Emerging Core Equity Market ETF (DFAE) returned +15.5% over the past year and +8.0% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +8.6% a year, turning $10,000 into about $16,286. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −32.2%, from Jun 2, 2021 to Oct 24, 2022, and it took 1.9 years to get back to the old high. DFAE finished 4 of its 5 full calendar years with a gain; the best year was 2025 (+31.5%) and the worst 2022 (−17.5%). Volatility has been 16.1% a year.
Related: DFAE chart, DFAE holdings, DFAE dividends. See the DFAE overview for the latest quote and fund facts.
DFAE performance FAQ
What is the DFAE return over the past year?
DFAE returned +15.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.3%.
What is the average annual return of DFAE?
DFAE has returned +8.0% a year over 5 years, +8.6% a year since December 2, 2020 (total return, distributions reinvested).
How much would $10,000 invested in DFAE be worth?
$10,000 invested in DFAE at its first recorded close on December 2, 2020 would be worth about $16,286 on October 23, 2026 with distributions reinvested.
What was the worst year for DFAE?
The worst calendar year was 2022, with a total return of −17.5%. The best was 2025 at +31.5%.
What is the biggest drawdown of DFAE?
The largest peak-to-trough decline was −32.2% between June 2, 2021 and October 24, 2022. It recovered to the old high on September 26, 2024, 1.9 years after the bottom.
How volatile is DFAE?
Over the past 3 years DFAE had an annualized volatility of 14.9% and a Sharpe ratio of 1.17 (excess return over 1–3 month T-bills per unit of risk).