DFAX vs IVV
Dimensional World ex US Core Equity 2 ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. DFAX delivered stronger 1-year returns. DFAX offers more diversification with 10131 holdings.
Side-by-Side Comparison
| Metric | DFAX | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.28% | 0.03% | |
| AUM | $11.9B | $865.2B | |
| Dividend Yield | 2.34% | 1.09% | |
| Holdings | 10,538 | 508 | |
| YTD Return | +16.04% | +13.72% | |
| 1Y Return | +28.34% | +21.64% | |
| 3Y Return (annualized) | +21.10% | +21.55% | |
| 5Y Return (annualized) | +10.36% | +13.27% | |
| Volatility (annualized) | 15.3% | 15.1% | |
| Max Drawdown | -28.1% | -56.5% | |
| Fund Family | Dimensional | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Mar 6, 2008 | May 15, 2000 |
DFAX vs IVV Performance
Dimensional World ex US Core Equity 2 ETF (DFAX) 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 DFAX returned +28.34% while IVV returned +21.64%. Year to date, DFAX is up 16.04% versus a gain of 13.72% for IVV.
Over three years, DFAX compounded at +21.10% per year against +21.55% for IVV; over five years the annualized figures are +10.36% and +13.27% respectively. Across the full 5-year window we track, DFAX has the edge at +10.36% annualized vs +7.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFAX has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -28.1% for DFAX 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFAX 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, DFAX currently yields 2.34% against 1.09% for IVV.
Holdings Overlap
DFAX and IVV share 6 holdings out of 10630 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DFAX or IVV?
DFAX has an expense ratio of 0.28% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $25 per year of difference.
Which performed better, DFAX or IVV?
Over the past year DFAX returned +28.34% vs +21.64% for IVV, so DFAX leads on 1-year performance. Over the longest common window we track (5 years), DFAX annualized +10.36% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, DFAX or IVV?
DFAX has been the more volatile fund at 15.3% annualized versus 15.1% for IVV. Worst drawdown: DFAX -28.1% vs IVV -56.5%.
Should I hold both DFAX and IVV?
DFAX and IVV have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DFAX and IVV?
DFAX and IVV share 6 common holdings with a 0.1% weight overlap. Combined, they hold 10630 unique securities.
Which pays a higher dividend, DFAX or IVV?
DFAX yields 2.34% while IVV yields 1.09%, so DFAX currently pays the higher dividend yield.
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