DFIC vs SPY
Dimensional International Core Equity 2 ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DFIC delivered stronger 1-year returns. DFIC offers more diversification with 3969 holdings.
Side-by-Side Comparison
| Metric | DFIC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.22% | 0.09% | |
| AUM | $14.5B | $789.1B | |
| Dividend Yield | 2.43% | 1.01% | |
| Holdings | 4,111 | 505 | |
| YTD Return | +12.56% | +13.39% | |
| 1Y Return | +25.01% | +22.52% | |
| 3Y Return (annualized) | +19.94% | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 16.0% | 15.3% | |
| Max Drawdown | -24.4% | -56.5% | |
| Fund Family | Dimensional | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 23, 2022 | Jan 22, 1993 |
DFIC vs SPY Performance
Dimensional International Core Equity 2 ETF (DFIC) 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 DFIC returned +25.01% while SPY returned +22.52%. Year to date, DFIC is up 12.56% versus a gain of 13.39% for SPY.
Over three years, DFIC compounded at +19.94% per year against +21.36% for SPY. Across the full 4-year window we track, DFIC has the edge at +13.27% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFIC has been the more volatile fund, with annualized monthly volatility of 16.0% 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 -24.4% for DFIC 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFIC charges 0.22% per year while SPY charges 0.09%. On a $10,000 position that is $22 vs $9 annually, a gap of $13 per year that compounds over a long holding period. On income, DFIC currently yields 2.43% against 1.01% for SPY.
Holdings Overlap
DFIC and SPY share 5 holdings out of 4467 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, DFIC or SPY?
DFIC has an expense ratio of 0.22% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $13 per year of difference.
Which performed better, DFIC or SPY?
Over the past year DFIC returned +25.01% vs +22.52% for SPY, so DFIC leads on 1-year performance. Over the longest common window we track (4 years), DFIC annualized +13.27% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, DFIC or SPY?
DFIC has been the more volatile fund at 16.0% annualized versus 15.3% for SPY. Worst drawdown: DFIC -24.4% vs SPY -56.5%.
Should I hold both DFIC and SPY?
DFIC and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DFIC and SPY?
DFIC and SPY share 5 common holdings with a 0.1% weight overlap. Combined, they hold 4467 unique securities.
Which pays a higher dividend, DFIC or SPY?
DFIC yields 2.43% while SPY yields 1.01%, so DFIC currently pays the higher dividend yield.
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