DFCA vs VOO
DFCA vs VOO
Dimensional California Municipal Bond ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | DFCA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.19% | 0.03% | |
| AUM | $707M | $979.0B | |
| Dividend Yield | 2.73% | 1.09% | |
| Holdings | 434 | 509 | |
| YTD Return | +0.67% | +13.80% | |
| 1Y Return | +3.71% | +23.71% | |
| 3Y Return (annualized) | +2.75% | +21.50% | |
| 5Y Return (annualized) | - | +13.44% | |
| Volatility (annualized) | 3.2% | 14.1% | |
| Max Drawdown | -3.3% | -34.3% | |
| Fund Family | Dimensional | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 26, 2023 | Sep 7, 2010 |
DFCA vs VOO Performance
Dimensional California Municipal Bond ETF (DFCA) is a ETF from Dimensional and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year DFCA returned +3.71% while VOO returned +23.71%. Year to date, DFCA is up 0.67% versus a gain of 13.80% for VOO.
Over three years, DFCA compounded at +2.75% per year against +21.50% for VOO. Across the full 3-year window we track, VOO has the edge at +13.58% annualized vs +2.51%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 3.2% for DFCA. 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 -3.3% for DFCA and -34.3% for VOO. 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DFCA charges 0.19% per year while VOO charges 0.03%. On a $10,000 position that is $19 vs $3 annually, a gap of $16 per year that compounds over a long holding period. On income, DFCA currently yields 2.73% against 1.09% for VOO.
Holdings Overlap
DFCA and VOO share 0 holdings out of 593 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DFCA or VOO?
DFCA has an expense ratio of 0.19% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, DFCA or VOO?
Over the past year DFCA returned +3.71% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (3 years), DFCA annualized +2.51% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, DFCA or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 3.2% for DFCA. Worst drawdown: DFCA -3.3% vs VOO -34.3%.
Should I hold both DFCA and VOO?
DFCA and VOO have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DFCA and VOO?
DFCA and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 593 unique securities.
Which pays a higher dividend, DFCA or VOO?
DFCA yields 2.73% while VOO yields 1.09%, so DFCA currently pays the higher dividend yield.
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