DFEV vs SPY
DFEV vs SPY
Dimensional Emerging Markets Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DFEV delivered stronger 1-year returns. DFEV offers more diversification with 3498 holdings.
Side-by-Side Comparison
| Metric | DFEV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.43% | 0.09% | |
| AUM | $2.0B | $789.1B | |
| Dividend Yield | 2.04% | 1.01% | |
| Holdings | 3,595 | 505 | |
| YTD Return | +20.83% | +13.79% | |
| 1Y Return | +37.99% | +23.66% | |
| 3Y Return (annualized) | +22.29% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 16.7% | 15.3% | |
| Max Drawdown | -18.5% | -56.5% | |
| Fund Family | Dimensional | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 26, 2022 | Jan 22, 1993 |
DFEV vs SPY Performance
Dimensional Emerging Markets Value ETF (DFEV) is a ETF from Dimensional and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DFEV returned +37.99% while SPY returned +23.66%. Year to date, DFEV is up 20.83% versus a gain of 13.79% for SPY.
Over three years, DFEV compounded at +22.29% per year against +21.40% for SPY. Across the full 4-year window we track, DFEV has the edge at +15.99% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFEV has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 15.3% for SPY. 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 -18.5% for DFEV and -56.5% for SPY. 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DFEV charges 0.43% per year while SPY charges 0.09%. On a $10,000 position that is $43 vs $9 annually, a gap of $34 per year that compounds over a long holding period. On income, DFEV currently yields 2.04% against 1.01% for SPY.
Holdings Overlap
DFEV and SPY share 0 holdings out of 4001 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, DFEV or SPY?
DFEV has an expense ratio of 0.43% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $34 per year of difference.
Which performed better, DFEV or SPY?
Over the past year DFEV returned +37.99% vs +23.66% for SPY, so DFEV leads on 1-year performance. Over the longest common window we track (4 years), DFEV annualized +15.99% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DFEV or SPY?
DFEV has been the more volatile fund at 16.7% annualized versus 15.3% for SPY. Worst drawdown: DFEV -18.5% vs SPY -56.5%.
Should I hold both DFEV and SPY?
DFEV and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DFEV and SPY?
DFEV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 4001 unique securities.
Which pays a higher dividend, DFEV or SPY?
DFEV yields 2.04% while SPY yields 1.01%, so DFEV currently pays the higher dividend yield.
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