DFAS vs IVV
Dimensional US Small Cap ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. DFAS delivered stronger 1-year returns. DFAS offers more diversification with 2,102 holdings.
Side-by-Side Comparison
| Metric | DFAS | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.26% | 0.03% | |
| AUM | $15.9B | $907.0B | |
| Dividend Yield | 0.98% | 1.10% | |
| Holdings | 2,102 | 508 | |
| YTD Return | +17.24% | +13.25% | |
| 1Y Return | +20.90% | +19.95% | |
| 3Y Return (annualized) | +15.21% | +21.26% | |
| 5Y Return (annualized) | +8.43% | +12.82% | |
| Volatility (annualized) | 19.1% | 15.1% | |
| Max Drawdown | -26.1% | -56.5% | |
| Fund Family | Dimensional | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Dec 15, 1998 | May 15, 2000 |
DFAS vs IVV Performance
Dimensional US Small Cap ETF (DFAS) is a ETF from Dimensional and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year DFAS returned +20.90% while IVV returned +19.95%. Year to date, DFAS is up 17.24% versus a gain of 13.25% for IVV.
Over three years, DFAS compounded at +15.21% per year against +21.26% for IVV; over five years the annualized figures are +8.43% and +12.82% respectively. Across the full 5-year window we track, DFAS has the edge at +8.16% annualized vs +7.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFAS has been the more volatile fund, with annualized monthly volatility of 19.1% compared with 15.1% for IVV. 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 -26.1% for DFAS and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFAS charges 0.26% per year while IVV charges 0.03%. On a $10,000 position that is $26 vs $3 annually, a gap of $23 per year that compounds over a long holding period. On income, DFAS currently yields 0.98% against 1.10% for IVV.
Holdings Overlap
DFAS and IVV share 57 holdings out of 2513 unique holdings combined, representing a 0.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DFAS or IVV?
DFAS has an expense ratio of 0.26% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $23 per year of difference.
Which performed better, DFAS or IVV?
Over the past year DFAS returned +20.90% vs +19.95% for IVV, so DFAS leads on 1-year performance. Over the longest common window we track (5 years), DFAS annualized +8.16% vs +7.01% for IVV. Past performance does not guarantee future results.
Which is riskier, DFAS or IVV?
DFAS has been the more volatile fund at 19.1% annualized versus 15.1% for IVV. Worst drawdown: DFAS -26.1% vs IVV -56.5%.
Should I hold both DFAS and IVV?
DFAS and IVV have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DFAS and IVV?
DFAS and IVV share 57 common holdings with a 0.9% weight overlap. Combined, they hold 2513 unique securities.
Which pays a higher dividend, DFAS or IVV?
DFAS yields 0.98% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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