DFAC vs IWV
Dimensional US Core Equity 2 ETF vs iShares Russell 3000 ETF
Which is better, DFAC or IWV?
Nearly the same fund. DFAC costs less.
DFAC has a lower expense ratio. DFAC led over 1Y and 5Y, IWV over 3Y and the full window. The two have moved almost in lockstep, correlation 0.98. DFAC is less concentrated, with 25.9% of the fund in its ten largest positions against 33.1%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DFAC | IWV |
|---|---|---|
| Expense Ratio | 0.17%Best | 0.20% |
| AUM | $87.6B | $20.5B |
| Dividend Yield | 0.88% | 0.87% |
| Holdings | 2,567 | 5,209 |
| YTD Return | +13.37%Best | +11.12% |
| 1Y Return | +16.95%Best | +13.54% |
| 3Y Return (annualized) | +19.51% | +19.95%Best |
| 5Y Return (annualized) | +10.43%Best | +10.42% |
| Volatility (annualized) | 15.4%Best | 15.5% |
| Max Drawdown | -23.1%Best | -25.1% |
| $10,000 over 5 years | $16,422Best | $16,415 |
| Top 10 Weight | 25.9%Best | 33.1% |
| Fund Family | Dimensional | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Oct 4, 2007 | May 22, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Jun 14, 2021 to Nov 13, 2026 (5.4 years).
DFAC vs IWV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5.4 years both funds cover.
DFAC vs IWV Performance
Dimensional US Core Equity 2 ETF (DFAC) is an ETF from Dimensional and iShares Russell 3000 ETF (IWV) is an ETF from iShares by BlackRock (US). Over the past year DFAC returned +16.95% while IWV returned +13.54%. Year to date, DFAC is up 13.37% versus a gain of 11.12% for IWV.
Over three years, DFAC compounded at +19.51% per year against +19.95% for IWV; over five years the annualized figures are +10.43% and +10.42% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IWV has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 15.4% for DFAC. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -23.1% for DFAC and -25.1% for IWV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DFAC charges 0.17% per year while IWV charges 0.20%. On a $10,000 position that is $17 vs $20 annually, a gap of $3 per year that compounds over a long holding period. On income, DFAC currently yields 0.88% against 0.87% for IWV.
Holdings Overlap
97.2% of DFAC's money is in holdings IWV also owns. 93.3% of IWV's money is in holdings DFAC also owns.
Most of DFAC is already inside IWV. Owning both mostly buys the same companies twice.
2,055 positions in common, counted across the 2,532 positions we hold weights for in DFAC and 2,569 in IWV, against full books of 2,567 and 5,209.
What only one of them owns
Our book lists 123 positions for IWV that do not appear in our book for DFAC (3.5% of the fund), and 26 for DFAC that do not appear in IWV (0.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in DFAC | Weight in IWV | Difference |
|---|---|---|---|
| AAPLApple, Inc | 5.69% | 6.85% | 1.16% |
| NVDANvidia Corp. | 5.20% | 6.56% | 1.36% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 4.65% | 5.33% | 0.68% |
| AMZNAmazon.Com Inc | 2.50% | 3.21% | 0.71% |
| METAMeta Platform Inc | 1.86% | 1.86% | 0.00% |
| GOOGLAlphabet Inc | 1.35% | 2.24% | 0.89% |
| AVGOBroadcom Inc | 1.13% | 2.09% | 0.96% |
| LLYEli Lilly & Co. | 1.30% | 1.56% | 0.26% |
| GOOGAlphabet Inc | 0.91% | 1.82% | 0.91% |
| MUMicron Technology, Inc. | 1.04% | 1.37% | 0.33% |
97.2% of DFAC is already inside IWV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFAC or IWV?
DFAC has an expense ratio of 0.17% while IWV charges 0.20%. DFAC is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, DFAC or IWV?
Over the past year DFAC returned +16.95% vs +13.54% for IWV, so DFAC leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFAC or IWV?
IWV has been the more volatile fund at 15.5% annualized versus 15.4% for DFAC. Worst drawdown: DFAC -23.1% vs IWV -25.1%.
Should I hold both DFAC and IWV?
DFAC and IWV have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between DFAC and IWV?
97.2% of DFAC's money is in holdings IWV also owns. 93.3% of IWV's is in holdings DFAC also owns. They hold 2,055 positions in common, counted across the 2,532 positions we hold weights for in DFAC and 2,569 in IWV.
Which pays a higher dividend, DFAC or IWV?
DFAC yields 0.88% while IWV yields 0.87%, so DFAC currently pays the higher dividend yield.
Is IWV better than DFAC?
DFAC has a lower expense ratio. DFAC led over 1Y and 5Y, IWV over 3Y and the full window. The two have moved almost in lockstep, correlation 0.98. DFAC is less concentrated, with 25.9% of the fund in its ten largest positions against 33.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.