DFEM vs VOO
Dimensional Emerging Markets Core Equity 2 ETF vs Vanguard S&P 500 ETF
Which is better, DFEM or VOO?
Each has led over a different period.
VOO has a lower expense ratio. DFEM led over 1Y, VOO over 3Y and the full window.
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 | DFEM | VOO |
|---|---|---|
| Expense Ratio | 0.39% | 0.03%Best |
| AUM | $9.6B | $1.0T |
| Dividend Yield | 1.84% | 1.04% |
| Holdings | 6,512 | 506 |
| YTD Return | +18.93%Best | +14.81% |
| 1Y Return | +25.96%Best | +18.66% |
| 3Y Return (annualized) | +22.40% | +23.30%Best |
| 5Y Return (annualized) | - | +13.98% |
| Volatility (annualized) | 17.3% | 15.0%Best |
| Max Drawdown | -20.8% | -18.7%Best |
| $10,000 over 4.5 years | $17,708 | $19,982Best |
| Fund Family | Dimensional | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 26, 2022 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.5 years row, are measured over the window both funds cover: Apr 27, 2022 to Oct 12, 2026 (4.5 years).
DFEM vs VOO 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 4.5 years both funds cover.
DFEM vs VOO Performance
Dimensional Emerging Markets Core Equity 2 ETF (DFEM) is an ETF from Dimensional and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year DFEM returned +25.96% while VOO returned +18.66%. Year to date, DFEM is up 18.93% versus a gain of 14.81% for VOO.
Over three years, DFEM compounded at +22.40% per year against +23.30% for VOO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFEM has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 15.0% for VOO. 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 -20.8% for DFEM and -18.7% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DFEM charges 0.39% per year while VOO charges 0.03%. On a $10,000 position that is $39 vs $3 annually, a gap of $36 per year that compounds over a long holding period. On income, DFEM currently yields 1.84% against 1.04% for VOO.
Holdings Overlap
We hold position weights for 6,630 holdings in DFEM and 494 in VOO, totalling 93.2% and 99.5% of the two funds. That is not enough of DFEM to divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
The two holdings books were reported 46 days apart, DFEM as of Sep 15, 2026 and VOO as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1 positions in common, counted across the 6,630 positions we hold weights for in DFEM and 494 in VOO, against full books of 6,512 and 506.
Top Shared Holdings
| Stock | Weight in DFEM | Weight in VOO | Difference |
|---|---|---|---|
| HALHalliburton Co. | 0.06% | 0.04% | 0.02% |
You are not choosing between two funds in isolation.
Whichever of DFEM and VOO 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, DFEM or VOO?
DFEM has an expense ratio of 0.39% while VOO charges 0.03%. VOO is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, DFEM or VOO?
Over the past year DFEM returned +25.96% vs +18.66% for VOO, so DFEM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFEM or VOO?
DFEM has been the more volatile fund at 17.3% annualized versus 15.0% for VOO. Worst drawdown: DFEM -20.8% vs VOO -18.7%.
Should I hold both DFEM and VOO?
DFEM and VOO have a monthly-return correlation of 0.69, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DFEM or VOO?
DFEM yields 1.84% while VOO yields 1.04%, so DFEM currently pays the higher dividend yield.
Is VOO better than DFEM?
VOO has a lower expense ratio. DFEM led over 1Y, VOO over 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.