DFAX
Dimensional World ex U.S. Core Equity 2 ETF
DFAX actively invests in non-US companies around the globe, with a focus on small- cap stocks.
Global
EQUITY
Active
MANAGEMENT STYLE
7.0 B
ASSETS UNDER MGMT
30 bp
EXPENSES
Fund Basics
Fund sponsor | Dimensional Fund Advisors LP |
Category | Global |
Asset class | Equity |
Website | link... |
Inception date | Sep 13, 2021 |
Assets (mns) | $7,034 |
Expense ratio | 30 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 +
GOLDMAN SACHS GROUP INC | 1.5 % |
NOVO NORDISK A/S-B | 0.7 % |
TAIWAN SEMICONDUCTOR-SP ADR | 0.7 % |
TOTAL SA | 0.7 % |
NOVARTIS AG-ADR | 0.7 % |
TOYOTA MOTOR CORP | 0.6 % |
TAIWAN SEMICONDUCTOR MANUFAC | 0.6 % |
NESTLE SA-REG | 0.5 % |
TENCENT HOLDINGS LTD | 0.5 % |
ASML HOLDING NV-NY REG SHS | 0.5 % |
Constituent Breakdown
Number of holdings | 10302 |
Herfindahl-Hirschman Index | 12 |
Wgt avg mkt cap (mns) | $57,574 |
Large cap (>$10bn) | 55.7% |
Mid cap ($2-10bn) | 30.4% |
Small cap (<$2bn) | 12.8% |
Developed mkts. | 71.5% |
Emerging mkts. | 28.5% |
Country Exposure
JAPAN | 14.9 % | |
CANADA | 7.2 % | |
BRITAIN | 6.7 % | |
INDIA | 5.9 % | |
TAIWAN | 5.8 % | |
SWITZERLAND | 5.8 % | |
CHINA | 5.2 % | |
GERMANY | 4.9 % | |
FRANCE | 4.8 % | |
AUSTRALIA | 4.0 % |
Historical Performance
Standardized Performance (as of 08/31/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | 10.0% | 17.9% | 15.9% | -- | -- | -- | 3.8% | Volatility | 11.1% | 12.2% | 15.6% | -- | -- | -- | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.81 | 72% |
MSCI EAFE | 0.93 | 95% |
MSCI Emg Mkts | 0.87 | 80% |
Liquidity Measures
Avg. volume (000) | 566 |
Turnover | 0.2% |
Avg. Bid/Ask (% of price) | 0.05% |
ADV of underlying (mns) | $118,030 |
Technical Indicators
Recent close | $25.58 |
30d moving avg. | $25.99 |
Annualized volatility | 17.0% |
Relative strength (RSI) | 55 |
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. DFAX |
Expenses vs. DFAX |
ALTAR Score™ vs. DFAX |
---|---|---|---|---|
DFIC | Dimensional International Core Equity 2 ETF | 60.1% | -7 bp | -0.4% |
IXUS | iShares Core MSCI Total International Stock ETF | 54.4% | -23 bp | -0.9% |
VXUS | Vanguard Total International Stock ETF | 53.7% | -23 bp | -0.8% |
DFAI | Dimensional International Core Equity Market ETF | 53.5% | -12 bp | -0.9% |
VEU | Vanguard FTSE All-World ex-US Index Fund | 49.6% | -22 bp | -0.8% |
ACWX | iShares MSCI ACWI ex U.S. ETF | 46.8% | +4 bp | -1.1% |
DFSI | Dimensional International Sustainability Core 1 ETF | 45.8% | -6 bp | -1.8% |
DBAW | Xtrackers MSCI All World ex US Hedged Equity ETF | 45.4% | +11 bp | -0.6% |
VSGX | Vanguard ESG International Stock ETF | 44.8% | -18 bp | -1.3% |
VEA | Vanguard FTSE Developed Markets ETF | 44.7% | -25 bp | -0.9% |
Risk and Returns: DFAX 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 9/6/2024
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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
DFAX
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™
DFAX
8.1%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 355 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
5.0%. DFAX's ALTAR Score™ is approximately
0.8 standard deviations
above
the category average. This places DFAX in the 78th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DFAXSELL
U/W
HOLD
O/W
BUY
Expense Analysis
Peer Group | Active Global Equity ETFs |
# of ETFs | 118 |
Avg. Expense Ratio | 73.5 bp |
Std. Deviation | 29.8 bp |
DFAX (30 bp) Percentile rank | 7 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
DFAX | 30.0 | 4.5 | 34.5 |
Peer Avg. | 63.1 | 40.3 | 103.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .