DFUS vs TCAL
Dimensional US Equity Market ETF vs T. Rowe Price Capital Appreciation Premium Income ETF
Which is better, DFUS or TCAL?
DFUS has been ahead.
DFUS has a lower expense ratio. DFUS led over 1Y and the full window. TCAL is less concentrated, with 17.0% of the fund in its ten largest positions against 35.2%.
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 | DFUS | TCAL |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.34% |
| AUM | $21.4B | $303M |
| Dividend Yield | 0.84% | 11.33% |
| Holdings | 2,253 | 488 |
| YTD Return | +14.65%Best | +2.33% |
| 1Y Return | +18.40%Best | +2.35% |
| 3Y Return (annualized) | +22.73% | - |
| 5Y Return (annualized) | +13.46% | - |
| Volatility (annualized) | 11.7% | 7.8%Best |
| Max Drawdown | -12.7% | -7.2%Best |
| $10,000 over 1.5 years | $13,838Best | $10,412 |
| Top 10 Weight | 35.2% | 17.0%Best |
| Fund Family | Dimensional | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 25, 2001 | Mar 26, 2025 |
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Mar 27, 2025 to Oct 13, 2026 (1.5 years).
DFUS vs TCAL 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 1.5 years both funds cover.
DFUS vs TCAL Performance
Dimensional US Equity Market ETF (DFUS) is an ETF from Dimensional and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is an ETF from T.Rowe Price. Over the past year DFUS returned +18.40% while TCAL returned +2.35%. Year to date, DFUS is up 14.65% versus a gain of 2.33% for TCAL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFUS has been the more volatile fund, with annualized monthly volatility of 11.7% compared with 7.8% for TCAL. 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 -12.7% for DFUS and -7.2% for TCAL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.39. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DFUS charges 0.09% per year while TCAL charges 0.34%. On a $10,000 position that is $9 vs $34 annually, a gap of $25 per year that compounds over a long holding period. On income, DFUS currently yields 0.84% against 11.33% for TCAL.
Holdings Overlap
36.9% of DFUS's money is in holdings TCAL also owns. 95.4% of TCAL's money is in holdings DFUS also owns.
Most of TCAL is already inside DFUS. Owning both mostly buys the same companies twice.
97 positions in common, counted across the 2,226 positions we hold weights for in DFUS and 103 in TCAL, against full books of 2,253 and 488.
What only one of them owns
Our book lists 2 positions for TCAL that do not appear in our book for DFUS (0.8% of the fund), and 885 for DFUS that do not appear in TCAL (60.8%).
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 DFUS | Weight in TCAL | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.11% | 1.28% | 5.83% |
| MSFTMicrosoft Corp | 5.21% | 1.94% | 3.27% |
| AMZNAmazon.Com Inc | 3.56% | 1.67% | 1.89% |
| METAMeta Platforms Inc | 2.04% | 1.44% | 0.60% |
| MAMastercard Inc | 0.66% | 1.79% | 1.13% |
| AMDAdvanced Micro Devices Inc | 1.19% | 1.18% | 0.01% |
| XOMExxon Mobil Corp. | 0.98% | 1.37% | 0.39% |
| JPMJpmorgan Chase | 1.35% | 0.86% | 0.49% |
| VVisa Inc Class A | 0.89% | 1.19% | 0.30% |
| DHRDanaher Corporation | 0.18% | 1.77% | 1.59% |
95.4% of TCAL is already inside DFUS.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFUS or TCAL?
DFUS has an expense ratio of 0.09% while TCAL charges 0.34%. DFUS is the cheaper option, by $25 a year on a $10,000 investment.
Which performed better, DFUS or TCAL?
Over the past year DFUS returned +18.40% vs +2.35% for TCAL, so DFUS leads on 1-year performance. Over the longest common window we track (2 years), DFUS annualized +24.18% vs +2.73% for TCAL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFUS or TCAL?
DFUS has been the more volatile fund at 11.7% annualized versus 7.8% for TCAL. Worst drawdown: DFUS -12.7% vs TCAL -7.2%.
Should I hold both DFUS and TCAL?
DFUS and TCAL have a monthly-return correlation of 0.39, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DFUS and TCAL?
95.4% of TCAL's money is in holdings DFUS also owns. 95.4% of TCAL's is in holdings DFUS also owns. They hold 97 positions in common, counted across the 2,226 positions we hold weights for in DFUS and 103 in TCAL.
Which pays a higher dividend, DFUS or TCAL?
DFUS yields 0.84% while TCAL yields 11.33%, so TCAL currently pays the higher dividend yield.
Is TCAL better than DFUS?
DFUS has a lower expense ratio. DFUS led over 1Y and the full window. TCAL is less concentrated, with 17.0% of the fund in its ten largest positions against 35.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.