DFIV vs SPY
Dimensional International Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DFIV delivered stronger 1-year returns. DFIV offers more diversification with 578 holdings.
Side-by-Side Comparison
| Metric | DFIV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.27% | 0.09% | |
| AUM | $20.9B | $789.1B | |
| Dividend Yield | 2.74% | 1.01% | |
| Holdings | 628 | 505 | |
| YTD Return | +16.21% | +13.39% | |
| 1Y Return | +33.51% | +22.52% | |
| 3Y Return (annualized) | +24.52% | +21.36% | |
| 5Y Return (annualized) | +16.11% | +13.19% | |
| Volatility (annualized) | 15.8% | 15.3% | |
| Max Drawdown | -25.4% | -56.5% | |
| Fund Family | Dimensional | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 16, 1999 | Jan 22, 1993 |
DFIV vs SPY Performance
Dimensional International Value ETF (DFIV) 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 DFIV returned +33.51% while SPY returned +22.52%. Year to date, DFIV is up 16.21% versus a gain of 13.39% for SPY.
Over three years, DFIV compounded at +24.52% per year against +21.36% for SPY; over five years the annualized figures are +16.11% and +13.19% respectively. Across the full 5-year window we track, DFIV has the edge at +16.11% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFIV has been the more volatile fund, with annualized monthly volatility of 15.8% 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 -25.4% for DFIV 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DFIV charges 0.27% per year while SPY charges 0.09%. On a $10,000 position that is $27 vs $9 annually, a gap of $18 per year that compounds over a long holding period. On income, DFIV currently yields 2.74% against 1.01% for SPY.
Holdings Overlap
DFIV and SPY share 2 holdings out of 1079 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, DFIV or SPY?
DFIV has an expense ratio of 0.27% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $18 per year of difference.
Which performed better, DFIV or SPY?
Over the past year DFIV returned +33.51% vs +22.52% for SPY, so DFIV leads on 1-year performance. Over the longest common window we track (5 years), DFIV annualized +16.11% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, DFIV or SPY?
DFIV has been the more volatile fund at 15.8% annualized versus 15.3% for SPY. Worst drawdown: DFIV -25.4% vs SPY -56.5%.
Should I hold both DFIV and SPY?
DFIV and SPY have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DFIV and SPY?
DFIV and SPY share 2 common holdings with a 0.1% weight overlap. Combined, they hold 1079 unique securities.
Which pays a higher dividend, DFIV or SPY?
DFIV yields 2.74% while SPY yields 1.01%, so DFIV currently pays the higher dividend yield.
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