DFAS vs QQQ
Dimensional US Small Cap ETF vs Invesco QQQ Trust, Series 1
Which is better, DFAS or QQQ?
Small Cap Blend against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. DFAS is less concentrated, with 2.6% of the fund in its ten largest positions against 46.5%.
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 | DFAS | QQQ |
|---|---|---|
| Expense Ratio | 0.26% | 0.18%Best |
| AUM | $15.4B | $483.5B |
| Dividend Yield | 0.97% | 0.44% |
| Holdings | 2,095 | 107 |
| YTD Return | +12.99% | +17.95%Best |
| 1Y Return | +14.76% | +21.77%Best |
| 3Y Return (annualized) | +15.08% | +25.63%Best |
| 5Y Return (annualized) | +8.58% | +15.24%Best |
| Volatility (annualized) | 19.0%Best | 20.6% |
| Max Drawdown | -26.1%Best | -35.1% |
| $10,000 over 5 years | $15,092 | $20,324Best |
| Top 10 Weight | 2.6%Best | 46.5% |
| Fund Family | Dimensional | Invesco (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Growth |
| Inception | Dec 15, 1998 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Jun 14, 2021 to Sep 18, 2026 (5.3 years).
DFAS vs QQQ 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 5.3 years both funds cover.
DFAS vs QQQ Performance
Dimensional US Small Cap ETF (DFAS) is an ETF from Dimensional and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year DFAS returned +14.76% while QQQ returned +21.77%. Year to date, DFAS is up 12.99% versus a gain of 17.95% for QQQ.
Over three years, DFAS compounded at +15.08% per year against +25.63% for QQQ; over five years the annualized figures are +8.58% and +15.24% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 20.6% compared with 19.0% for DFAS. 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 -35.1% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.67. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DFAS charges 0.26% per year while QQQ charges 0.18%. On a $10,000 position that is $26 vs $18 annually, a gap of $8 per year that compounds over a long holding period. On income, DFAS currently yields 0.97% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 2,036 holdings in DFAS and 102 in QQQ, totalling 99.2% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 2,036 positions we hold weights for in DFAS and 102 in QQQ, against full books of 2,095 and 107.
What only one of them owns
Our book lists 96 positions for QQQ that do not appear in our book for DFAS (97.5% of the fund), and 1,533 for DFAS that do not appear in QQQ (96.8%).
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.
You are not choosing between two funds in isolation.
Whichever of DFAS and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFAS or QQQ?
DFAS has an expense ratio of 0.26% while QQQ charges 0.18%. QQQ is the cheaper option, by $8 a year on a $10,000 investment.
Which performed better, DFAS or QQQ?
Over the past year DFAS returned +14.76% vs +21.77% for QQQ, so QQQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFAS or QQQ?
QQQ has been the more volatile fund at 20.6% annualized versus 19.0% for DFAS. Worst drawdown: DFAS -26.1% vs QQQ -35.1%.
Should I hold both DFAS and QQQ?
DFAS and QQQ have a monthly-return correlation of 0.67, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DFAS or QQQ?
DFAS yields 0.97% while QQQ yields 0.44%, so DFAS currently pays the higher dividend yield.
Is QQQ better than DFAS?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. DFAS is less concentrated, with 2.6% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.