DFSE
Dimensional Emerging Markets Sustainability Core 1 ETF
DFSE is an actively managed ETF that aims to invest in a portfolio of emerging market equities across all market-caps with perceived high profitability and positive sustainability characteristics.
Emerging Market
EQUITY
Active
MANAGEMENT STYLE
314.9 M
ASSETS UNDER MGMT
41 bp
EXPENSES
Fund Basics
| Fund sponsor | Dimensional |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 01, 2022 |
| Assets (mns) | $315 |
| Expense ratio | 41 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 | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| MIA TEKNOLOJI AS | 8.6 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 5.0 % |
| TENCENT HOLDINGS LTD | 3.2 % |
| NATURAL RESOURCE PARTNERS LP | 1.6 % |
| ALIBABA GROUP HOLDING LTD. | 1.2 % |
| SAMSUNG ELECTRONICS CO LTD | 1.0 % |
| INFOSYS TECHNOLOGIES LTD | 0.8 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 0.8 % |
| CHINA CONSTRUCTION BANK-H | 0.7 % |
| HON HAI PRECISION INDUSTRY | 0.6 % |
Constituent Breakdown
| Number of holdings | 4227 |
| Herfindahl-Hirschman Index | 127 |
| Wgt avg mkt cap (mns) | $88,213 |
| Large cap (>$10bn) | 50.9% |
| Mid cap ($2-10bn) | 33.6% |
| Small cap (<$2bn) | 14.8% |
| Developed mkts. | 8.4% |
| Emerging mkts. | 91.6% |
Country Exposure
 |
CHINA | 21.9 % |
 |
TAIWAN | 19.0 % |
 |
INDIA | 17.1 % |
 |
SOUTH KOREA | 10.2 % |
 |
BRAZIL | 3.5 % |
 |
SAUDI ARABIA | 3.1 % |
 |
HONG KONG | 2.8 % |
 |
SOUTH AFRICA | 2.1 % |
 |
UNITED STATES | 1.6 % |
 |
MEXICO | 1.5 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 9.9% | 23.6% | -- | -- | -- | -- | 13.7% | Volatility | 16.9% | 16.6% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.81 | 59% |
| MSCI EAFE | 0.71 | 61% |
| MSCI Emg Mkts | 0.98 | 97% |
Liquidity Measures
| Avg. volume (000) | 24 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.29% |
| ADV of underlying (mns) | $103,038 |
Technical Indicators
| Recent close | $33.29 |
| 30d moving avg. | $35.32 |
| Annualized volatility | 13.5% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 1.0% |
| 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. DFSE |
Expenses vs. DFSE |
ALTAR Score™ vs. DFSE |
|---|---|---|---|---|
| DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 63.2% | -3 bp | +0.4% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 63.2% | -6 bp | -0.1% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 54.4% | -32 bp | +0.0% |
| VWO | Vanguard FTSE Emerging Markets ETF | 51.1% | -33 bp | -0.5% |
| EEM | iShares MSCI Emerging Markets ETF | 49.6% | +28 bp | -0.5% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 49.1% | -30 bp | +1.0% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 48.6% | +25 bp | +2.6% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 48.6% | -5 bp | +0.4% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 47.9% | -26 bp | -0.2% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 46.9% | +8 bp | +0.7% |
Risk and Returns: DFSE 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 11/15/2024
Peer Group Comparison Sample data. Subscribe for access.
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
DFSE
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
DFSE
7.5%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. DFSE's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places DFSE in the 47th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DFSESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Emerging Market Equity ETFs |
| # of ETFs | 22 |
| Avg. Expense Ratio | 60.3 bp |
| Std. Deviation | 21.7 bp |
| DFSE (41 bp) Percentile rank | 18 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DFSE | 41.0 | 28.7 | 69.7 |
| Peer Avg. | 41.8 | 27.4 | 69.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .