DFAT vs IVV
Dimensional US Targeted Value ETF vs iShares Core S&P 500 ETF
Which is better, DFAT or IVV?
Small Cap Value against Large Cap Blend.
IVV has a lower expense ratio. DFAT led over 1Y, IVV over 3Y, 5Y and the full window. DFAT is less concentrated, with 6.5% of the fund in its ten largest positions against 37.9%.
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 | IVV |
|---|---|---|
| Expense Ratio | 0.28% | 0.03%Best |
| AUM | $14.4B | $876.4B |
| Dividend Yield | 1.35% | 1.06% |
| Holdings | 1,234 | 508 |
| YTD Return | +18.02%Best | +12.24% |
| 1Y Return | +21.92%Best | +18.61% |
| 3Y Return (annualized) | +16.38% | +20.98%Best |
| 5Y Return (annualized) | +11.24% | +12.76%Best |
| Volatility (annualized) | 19.7% | 15.6%Best |
| Max Drawdown | -26.1% | -24.5%Best |
| $10,000 over 5 years | $17,034 | $18,230Best |
| Top 10 Weight | 6.5%Best | 37.9% |
| Fund Family | Dimensional | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Small Cap Value | Large Cap Blend |
| Inception | Dec 11, 1998 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Jun 14, 2021 to Sep 9, 2026 (5.2 years).
DFAT vs IVV 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 5.2 years both funds cover.
DFAT vs IVV Performance
Dimensional US Targeted Value ETF (DFAT) is an ETF from Dimensional and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year DFAT returned +21.92% while IVV returned +18.61%. Year to date, DFAT is up 18.02% versus a gain of 12.24% for IVV.
Over three years, DFAT compounded at +16.38% per year against +20.98% for IVV; over five years the annualized figures are +11.24% and +12.76% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFAT has been the more volatile fund, with annualized monthly volatility of 19.7% compared with 15.6% 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 DFAT and -24.5% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFAT charges 0.28% per year while IVV charges 0.03%. On a $10,000 position that is $28 vs $3 annually, a gap of $25 per year that compounds over a long holding period. On income, DFAT currently yields 1.35% against 1.06% for IVV.
Holdings Overlap
11.1% of DFAT's money is in holdings IVV also owns. 0.8% of IVV's money is in holdings DFAT also owns.
DFAT and IVV share little of their money.
44 positions in common, counted across the 1,194 positions we hold weights for in DFAT and 505 in IVV, against full books of 1,234 and 508.
What only one of them owns
Our book lists 453 positions for IVV that do not appear in our book for DFAT (98.5% of the fund), and 872 for DFAT that do not appear in IVV (85.0%).
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 IVV | Difference |
|---|---|---|---|
| BALLBall Corp. | 0.66% | 0.03% | 0.63% |
| SJMJm Smucker Co. | 0.60% | 0.02% | 0.58% |
| APAApa Corp | 0.58% | 0.02% | 0.56% |
| IVZInvesco Advisers Inc | 0.55% | 0.02% | 0.53% |
| BENFranklin Resources Inc. | 0.51% | 0.02% | 0.49% |
| GLGlobe Life Inc. | 0.50% | 0.02% | 0.48% |
| CFCf Industries Holdings Inc. | 0.39% | 0.03% | 0.36% |
| SWKStanley Black & Decker Inc. | 0.40% | 0.02% | 0.38% |
| UHSUniversal Health Services Inc. | 0.40% | 0.01% | 0.39% |
| COOCooper Cos Inc/The | 0.38% | 0.02% | 0.36% |
You are not choosing between two funds in isolation.
Whichever of DFAT and IVV 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, DFAT or IVV?
DFAT has an expense ratio of 0.28% while IVV charges 0.03%. IVV is the cheaper option, by $25 a year on a $10,000 investment.
Which performed better, DFAT or IVV?
Over the past year DFAT returned +21.92% vs +18.61% for IVV, so DFAT leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFAT or IVV?
DFAT has been the more volatile fund at 19.7% annualized versus 15.6% for IVV. Worst drawdown: DFAT -26.1% vs IVV -24.5%.
Should I hold both DFAT and IVV?
DFAT and IVV have a monthly-return correlation of 0.76, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DFAT and IVV?
11.1% of DFAT's money is in holdings IVV also owns. 0.8% of IVV's is in holdings DFAT also owns. They hold 44 positions in common, counted across the 1,194 positions we hold weights for in DFAT and 505 in IVV.
Which pays a higher dividend, DFAT or IVV?
DFAT yields 1.35% while IVV yields 1.06%, so DFAT currently pays the higher dividend yield.
Is IVV better than DFAT?
IVV has a lower expense ratio. DFAT led over 1Y, IVV over 3Y, 5Y and the full window. DFAT is less concentrated, with 6.5% of the fund in its ten largest positions against 37.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.