DFCA vs VTI
Dimensional California Municipal Bond ETF vs Vanguard Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 2783 holdings.
Side-by-Side Comparison
| Metric | DFCA | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.19% | 0.03% | |
| AUM | $707M | $663.5B | |
| Dividend Yield | 2.73% | 1.07% | |
| Holdings | 434 | 3,543 | |
| YTD Return | +0.67% | +14.20% | |
| 1Y Return | +3.71% | +24.16% | |
| 3Y Return (annualized) | +2.75% | +21.12% | |
| 5Y Return (annualized) | - | +12.37% | |
| Volatility (annualized) | 3.2% | 15.3% | |
| Max Drawdown | -3.3% | -56.6% | |
| Fund Family | Dimensional | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 26, 2023 | May 24, 2001 |
DFCA vs VTI Performance
Dimensional California Municipal Bond ETF (DFCA) is a ETF from Dimensional and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year DFCA returned +3.71% while VTI returned +24.16%. Year to date, DFCA is up 0.67% versus a gain of 14.20% for VTI.
Over three years, DFCA compounded at +2.75% per year against +21.12% for VTI. Across the full 3-year window we track, VTI has the edge at +8.14% annualized vs +2.51%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -56.6% for VTI. 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DFCA charges 0.19% per year while VTI 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 1.07% for VTI.
Holdings Overlap
DFCA and VTI share 0 holdings out of 2871 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 VTI?
DFCA has an expense ratio of 0.19% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, DFCA or VTI?
Over the past year DFCA returned +3.71% vs +24.16% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (3 years), DFCA annualized +2.51% vs +8.14% for VTI. Past performance does not guarantee future results.
Which is riskier, DFCA or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 3.2% for DFCA. Worst drawdown: DFCA -3.3% vs VTI -56.6%.
Should I hold both DFCA and VTI?
DFCA and VTI have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DFCA and VTI?
DFCA and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2871 unique securities.
Which pays a higher dividend, DFCA or VTI?
DFCA yields 2.73% while VTI yields 1.07%, so DFCA currently pays the higher dividend yield.
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