DFAU vs TCAF
Dimensional US Core Equity Market ETF vs T. Rowe Price Capital Appreciation Equity ETF
Which is better, DFAU or TCAF?
Nearly the same fund. DFAU costs less.
DFAU has a lower expense ratio. DFAU led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.96. DFAU is less concentrated, with 33.2% of the fund in its ten largest positions against 38.2%.
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 | DFAU | TCAF |
|---|---|---|
| Expense Ratio | 0.12%Best | 0.31% |
| AUM | $12.9B | $9.2B |
| Dividend Yield | 0.90% | 0.44% |
| Holdings | 2,166 | 199 |
| YTD Return | +11.90% | +13.27%Best |
| 1Y Return | +14.60%Best | +13.19% |
| 3Y Return (annualized) | +20.04%Best | +18.63% |
| 5Y Return (annualized) | +11.07% | - |
| Volatility (annualized) | 12.6% | 11.8%Best |
| Max Drawdown | -19.4% | -16.6%Best |
| $10,000 over 3.4 years | $17,535Best | $16,990 |
| Top 10 Weight | 33.2%Best | 38.2% |
| Fund Family | Dimensional | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 17, 2020 | Jun 14, 2023 |
Volatility and max drawdown, and the $10,000 over 3.4 years row, are measured over the window both funds cover: Jun 15, 2023 to Nov 13, 2026 (3.4 years).
DFAU vs TCAF 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 3.4 years both funds cover.
DFAU vs TCAF Performance
Dimensional US Core Equity Market ETF (DFAU) is an ETF from Dimensional and T. Rowe Price Capital Appreciation Equity ETF (TCAF) is an ETF from T.Rowe Price. Over the past year DFAU returned +14.60% while TCAF returned +13.19%. Year to date, DFAU is up 11.90% versus a gain of 13.27% for TCAF.
Over three years, DFAU compounded at +20.04% per year against +18.63% for TCAF.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFAU has been the more volatile fund, with annualized monthly volatility of 12.6% compared with 11.8% for TCAF. 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 -19.4% for DFAU and -16.6% for TCAF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DFAU charges 0.12% per year while TCAF charges 0.31%. On a $10,000 position that is $12 vs $31 annually, a gap of $19 per year that compounds over a long holding period. On income, DFAU currently yields 0.90% against 0.44% for TCAF.
Holdings Overlap
41.1% of DFAU's money is in holdings TCAF also owns. 87.7% of TCAF's money is in holdings DFAU also owns.
Most of TCAF is already inside DFAU. Owning both mostly buys the same companies twice.
78 positions in common, counted across the 2,143 positions we hold weights for in DFAU and 93 in TCAF, against full books of 2,166 and 199.
What only one of them owns
Our book lists 13 positions for TCAF that do not appear in our book for DFAU (6.7% of the fund), and 1,070 for DFAU that do not appear in TCAF (57.1%).
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 DFAU | Weight in TCAF | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.62% | 7.13% | 1.51% |
| NVDANvidia Corp. | 6.69% | 5.30% | 1.39% |
| AAPLApple, Inc | 6.87% | 5.05% | 1.82% |
| AMZNAmazon.Com Inc | 3.29% | 5.44% | 2.15% |
| GOOGLAlphabet Inc | 2.15% | 2.34% | 0.19% |
| METAMeta Platform Inc | 1.80% | 2.57% | 0.77% |
| AMDAdvanced Micro Devices Inc. | 0.89% | 2.73% | 1.84% |
| AVGOBroadcom Inc | 2.00% | 1.61% | 0.39% |
| NXTNextpower Inc | 0.02% | 3.04% | 3.02% |
| MAMastercard Inc | 0.71% | 2.27% | 1.56% |
87.7% of TCAF is already inside DFAU.
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, DFAU or TCAF?
DFAU has an expense ratio of 0.12% while TCAF charges 0.31%. DFAU is the cheaper option, by $19 a year on a $10,000 investment.
Which performed better, DFAU or TCAF?
Over the past year DFAU returned +14.60% vs +13.19% for TCAF, so DFAU leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFAU or TCAF?
DFAU has been the more volatile fund at 12.6% annualized versus 11.8% for TCAF. Worst drawdown: DFAU -19.4% vs TCAF -16.6%.
Should I hold both DFAU and TCAF?
DFAU and TCAF have a monthly-return correlation of 0.96, 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 DFAU and TCAF?
87.7% of TCAF's money is in holdings DFAU also owns. 87.7% of TCAF's is in holdings DFAU also owns. They hold 78 positions in common, counted across the 2,143 positions we hold weights for in DFAU and 93 in TCAF.
Which pays a higher dividend, DFAU or TCAF?
DFAU yields 0.90% while TCAF yields 0.44%, so DFAU currently pays the higher dividend yield.
Is TCAF better than DFAU?
DFAU has a lower expense ratio. DFAU led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.96. DFAU is less concentrated, with 33.2% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.