DFAR
Dimensional US Real Estate ETF
DFAR is actively managed to invest in US companies whose principal activities are engaged in the broad real estate sector, including REITs. Portfolio holdings are weighted by market capitalization.
US
EQUITY
Active
MANAGEMENT STYLE
1.2 B
ASSETS UNDER MGMT
19 bp
EXPENSES
Fund Basics
| Fund sponsor | Dimensional Holdings |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 23, 2022 |
| Assets (mns) | $1,186 |
| Expense ratio | 19 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| PROLOGIS INC | 7.8 % |
| AMERICAN TOWER CORP-CL A | 7.5 % |
| EQUINIX INC | 6.3 % |
| WELLTOWER, INC. | 4.8 % |
| DIGITAL REALTY TRUST INC | 4.3 % |
| SIMON PROPERTY GROUP INC | 4.1 % |
| REALTY INCOME CORP | 3.9 % |
| PUBLIC STORAGE | 3.9 % |
| CROWN CASTLE INTL CORP | 3.4 % |
| IRON MOUNTAIN INC | 2.7 % |
Constituent Breakdown
| Number of holdings | 133 |
| Herfindahl-Hirschman Index | 323 |
| Wgt avg mkt cap (mns) | $41,032 |
| Large cap (>$10bn) | 81.6% |
| Mid cap ($2-10bn) | 15.6% |
| Small cap (<$2bn) | 2.8% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 99.0 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 14.3% | 36.3% | 15.6% | -- | -- | -- | 3.5% | Volatility | 17.1% | 18.3% | 21.3% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 72% |
| MSCI EAFE | 1.00 | 69% |
| MSCI Emg Mkts | 0.79 | 45% |
Liquidity Measures
| Avg. volume (000) | 107 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.07% |
| ADV of underlying (mns) | $9,884 |
Technical Indicators
| Recent close | $25.09 |
| 30d moving avg. | $25.23 |
| Annualized volatility | 21.7% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DFAR |
Expenses vs. DFAR |
ALTAR Score™ vs. DFAR |
|---|---|---|---|---|
| SCHH | Schwab U.S. REIT ETF | 95.7% | -12 bp | +0.2% |
| FREL | Fidelity MSCI Real Estate Index ETF | 89.1% | -11 bp | -0.2% |
| VNQ | Vanguard Real Estate ETF | 88.8% | -7 bp | -0.1% |
| IYR | iShares U.S. Real Estate ETF | 87.2% | +21 bp | -0.3% |
| USRT | iShares Core U.S. REIT ETF | 85.8% | -11 bp | +0.0% |
| FRI | First Trust S&P REIT Index Fund | 84.9% | +31 bp | -0.4% |
| BBRE | JPMorgan BetaBuilders MSCI U.S. REIT ETF | 84.1% | -8 bp | 0.0% |
| RWR | SPDR Dow Jones REIT ETF | 77.8% | +6 bp | -0.1% |
| XLRE | Real Estate Select Sector SPDR Fund | 74.9% | -10 bp | -0.4% |
| ICF | iShares Cohen & Steers REIT ETF | 74.7% | +14 bp | -0.5% |
Risk and Returns: DFAR vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 10/29/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
DFAR
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
DFAR
6.2%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 949 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.5%. DFAR's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places DFAR in the 61st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DFARSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| DFAR (19 bp) Percentile rank | 10 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DFAR | 19.0 | 6.9 | 25.9 |
| Peer Avg. | 67.7 | 50.3 | 118.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .