DFAT vs DFSV
Dimensional US Targeted Value ETF vs Dimensional US Small Cap Value ETF
Which is better, DFAT or DFSV?
Nearly the same fund. DFAT costs less.
DFAT has a lower expense ratio. DFSV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.99. DFSV is less concentrated, with 6.7% of the fund in its ten largest positions against 6.8%.
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 | DFAT | DFSV |
|---|---|---|
| Expense Ratio | 0.28%Best | 0.30% |
| AUM | $13.8B | $26.7B |
| Dividend Yield | 1.35% | 1.35% |
| Holdings | 1,234 | 31 |
| YTD Return | +13.48% | +15.12%Best |
| 1Y Return | +20.61% | +23.21%Best |
| 3Y Return (annualized) | +16.76% | +17.27%Best |
| 5Y Return (annualized) | +9.79% | - |
| Volatility (annualized) | 20.7%Best | 21.2% |
| Max Drawdown | -26.1%Best | -28.0% |
| $10,000 over 4.6 years | $15,929 | $16,182Best |
| Top 10 Weight | 6.8% | 6.7%Best |
| Fund Family | Dimensional | Dimensional |
| Category | Equity | Equity |
| Style | Small Cap Value | Small Cap Value |
| Inception | Dec 11, 1998 | Feb 23, 2022 |
Volatility and max drawdown, and the $10,000 over 4.6 years row, are measured over the window both funds cover: Feb 24, 2022 to Oct 12, 2026 (4.6 years).
DFAT vs DFSV 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 4.6 years both funds cover.
DFAT vs DFSV Performance
Dimensional US Targeted Value ETF (DFAT) is an ETF from Dimensional and Dimensional US Small Cap Value ETF (DFSV) is an ETF from Dimensional. Over the past year DFAT returned +20.61% while DFSV returned +23.21%. Year to date, DFAT is up 13.48% versus a gain of 15.12% for DFSV.
Over three years, DFAT compounded at +16.76% per year against +17.27% for DFSV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFSV has been the more volatile fund, with annualized monthly volatility of 21.2% compared with 20.7% for DFAT. 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 DFAT and -28.0% for DFSV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DFAT charges 0.28% per year while DFSV charges 0.30%. On a $10,000 position that is $28 vs $30 annually, a gap of $2 per year that compounds over a long holding period. On income, DFAT currently yields 1.35% against 1.35% for DFSV.
Holdings Overlap
80.0% of DFAT's money is in holdings DFSV also owns. 95.7% of DFSV's money is in holdings DFAT also owns.
Most of DFSV is already inside DFAT. Owning both mostly buys the same companies twice.
891 positions in common, counted across the 1,193 positions we hold weights for in DFAT and 993 in DFSV, against full books of 1,234 and 31.
What only one of them owns
Our book lists 59 positions for DFSV that do not appear in our book for DFAT (3.1% of the fund), and 174 for DFAT that do not appear in DFSV (17.5%).
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 DFAT | Weight in DFSV | Difference |
|---|---|---|---|
| OVVOvintiv Inc. | 0.79% | 0.69% | 0.10% |
| BWABorgWarner Inc | 0.65% | 0.77% | 0.12% |
| ARWArrow Electronics Inc. | 0.57% | 0.73% | 0.16% |
| APAAPA Corp. | 0.76% | 0.48% | 0.28% |
| IVZInvesco Ltd | 0.57% | 0.65% | 0.08% |
| DINOHollyfrontier | 0.67% | 0.52% | 0.15% |
| KNXKnight-Swift Transportation Holdings Inc | 0.48% | 0.68% | 0.20% |
| ARAntero Resources Corp | 0.57% | 0.56% | 0.01% |
| JXNJackson Financial Inc USD | 0.48% | 0.61% | 0.13% |
| SSBSouth State Corp | 0.44% | 0.62% | 0.18% |
95.7% of DFSV is already inside DFAT.
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, DFAT or DFSV?
DFAT has an expense ratio of 0.28% while DFSV charges 0.30%. DFAT is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, DFAT or DFSV?
Over the past year DFAT returned +20.61% vs +23.21% for DFSV, so DFSV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFAT or DFSV?
DFSV has been the more volatile fund at 21.2% annualized versus 20.7% for DFAT. Worst drawdown: DFAT -26.1% vs DFSV -28.0%.
Should I hold both DFAT and DFSV?
DFAT and DFSV have a monthly-return correlation of 0.99, 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 DFAT and DFSV?
95.7% of DFSV's money is in holdings DFAT also owns. 95.7% of DFSV's is in holdings DFAT also owns. They hold 891 positions in common, counted across the 1,193 positions we hold weights for in DFAT and 993 in DFSV.
Which pays a higher dividend, DFAT or DFSV?
DFAT yields 1.35% while DFSV yields 1.35%, so DFAT currently pays the higher dividend yield.
Is DFSV better than DFAT?
DFAT has a lower expense ratio. DFSV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.99. DFSV is less concentrated, with 6.7% of the fund in its ten largest positions against 6.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.