DFIS vs SPY
Dimensional International Small Cap ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DFIS or SPY?
Mid Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. DFIS led over 1Y, SPY over 3Y and the full window. DFIS is less concentrated, with 3.6% of the fund in its ten largest positions against 37.8%.
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 | DFIS | SPY |
|---|---|---|
| Expense Ratio | 0.39% | 0.09%Best |
| AUM | $5.9B | $804.7B |
| Dividend Yield | 1.90% | 0.98% |
| Holdings | 3,500 | 505 |
| YTD Return | +11.83% | +13.82%Best |
| 1Y Return | +17.74%Best | +16.96% |
| 3Y Return (annualized) | +20.72% | +22.97%Best |
| 5Y Return (annualized) | - | +13.73% |
| Volatility (annualized) | 17.3% | 15.7%Best |
| Max Drawdown | -27.2% | -22.1%Best |
| $10,000 over 4.5 years | $16,130 | $18,205Best |
| Top 10 Weight | 3.6%Best | 37.8% |
| Fund Family | Dimensional | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | Mar 23, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.5 years row, are measured over the window both funds cover: Mar 24, 2022 to Sep 21, 2026 (4.5 years).
DFIS vs SPY 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.
DFIS vs SPY Performance
Dimensional International Small Cap ETF (DFIS) is an ETF from Dimensional and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DFIS returned +17.74% while SPY returned +16.96%. Year to date, DFIS is up 11.83% versus a gain of 13.82% for SPY.
Over three years, DFIS compounded at +20.72% per year against +22.97% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFIS has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 15.7% 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 -27.2% for DFIS and -22.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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
DFIS charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, DFIS currently yields 1.90% against 0.98% for SPY.
Holdings Overlap
0.1% of DFIS's money is in holdings SPY also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 3,428 positions we hold weights for in DFIS and 504 in SPY, against full books of 3,500 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for DFIS (99.3% of the fund), and 28 for DFIS that do not appear in SPY (1.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in DFIS | Weight in SPY | Difference |
|---|---|---|---|
| IPInternational Paper Co. | 0.07% | 0.03% | 0.04% |
You are not choosing between two funds in isolation.
Whichever of DFIS and SPY 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, DFIS or SPY?
DFIS has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, DFIS or SPY?
Over the past year DFIS returned +17.74% vs +16.96% for SPY, so DFIS leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFIS or SPY?
DFIS has been the more volatile fund at 17.3% annualized versus 15.7% for SPY. Worst drawdown: DFIS -27.2% vs SPY -22.1%.
Should I hold both DFIS and SPY?
DFIS and SPY have a monthly-return correlation of 0.77, 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, DFIS or SPY?
DFIS yields 1.90% while SPY yields 0.98%, so DFIS currently pays the higher dividend yield.
Is SPY better than DFIS?
SPY has a lower expense ratio. DFIS led over 1Y, SPY over 3Y and the full window. DFIS is less concentrated, with 3.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.