DFAI
Dimensional International Core Equity Market ETF
DFAI is an actively-managed fund that seeks a broad exposure to relatively low-priced and profitable stocks in developed countries outside the US.
International
EQUITY
Active
MANAGEMENT STYLE
7.2 B
ASSETS UNDER MGMT
18 bp
EXPENSES
Fund Basics
| Fund sponsor | Dimensional Holdings |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 17, 2020 |
| Assets (mns) | $7,162 |
| Expense ratio | 18 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| 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 +
| CASH AND CASH EQUIVALENTS | 1.9 % |
| NOVO NORDISK A/S-B | 1.5 % |
| NESTLE SA-REG | 1.1 % |
| SHELL PLC | 1.1 % |
| ROCHE HOLDING LTD | 1.0 % |
| ASML HOLDING NV-NY REG SHS | 0.9 % |
| ASTRAZENECA PLC | 0.9 % |
| TOTAL SA | 0.9 % |
| TOYOTA MOTOR CORP | 0.8 % |
| SAP AG | 0.8 % |
Constituent Breakdown
| Number of holdings | 3782 |
| Herfindahl-Hirschman Index | 30 |
| Wgt avg mkt cap (mns) | $75,283 |
| Large cap (>$10bn) | 76.4% |
| Mid cap ($2-10bn) | 17.7% |
| Small cap (<$2bn) | 4.9% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.1% |
Country Exposure
 |
JAPAN | 21.8 % |
 |
BRITAIN | 12.2 % |
 |
CANADA | 11.0 % |
 |
SWITZERLAND | 8.7 % |
 |
FRANCE | 8.2 % |
 |
GERMANY | 7.5 % |
 |
AUSTRALIA | 6.4 % |
 |
NETHERLANDS | 3.8 % |
 |
DENMARK | 3.0 % |
 |
SWEDEN | 2.6 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 13.1% | 25.4% | 24.9% | 6.2% | -- | -- | 9.0% | Volatility | 11.2% | 12.3% | 16.2% | 16.2% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.85 | 75% |
| MSCI EAFE | 0.98 | 97% |
| MSCI Emg Mkts | 0.83 | 67% |
Liquidity Measures
| Avg. volume (000) | 703 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $93,099 |
Technical Indicators
| Recent close | $30.72 |
| 30d moving avg. | $31.14 |
| Annualized volatility | 17.5% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 0.3% |
| 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. DFAI |
Expenses vs. DFAI |
ALTAR Score™ vs. DFAI |
|---|---|---|---|---|
| IDEV | iShares Core MSCI International Developed Markets ETF | 76.2% | -14 bp | +0.1% |
| IEFA | iShares Core MSCI EAFE ETF | 75.2% | -11 bp | +0.2% |
| VEA | Vanguard FTSE Developed Markets ETF | 73.4% | -13 bp | +0.0% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 71.8% | -15 bp | +0.2% |
| DFIC | Dimensional International Core Equity 2 ETF | 69.6% | +5 bp | +0.4% |
| BKIE | BNY Mellon International Equity ETF | 68.2% | -14 bp | -0.1% |
| SCHF | Schwab International Equity ETF | 68.0% | -12 bp | +0.3% |
| EFA | iShares MSCI EAFE ETF | 68.0% | +17 bp | -0.1% |
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | 64.7% | +18 bp | -0.8% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 64.7% | +2 bp | -0.3% |
Risk and Returns: DFAI 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 10/22/2024
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
DFAI
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™
DFAI
7.3%
Cat. Avg
7.4%
ALTAR Score™ Calculation
Category Overview
There are 257 funds in the International Equity category, with an average ALTAR Score™
of 7.4% and a standard deviation of
2.5%. DFAI's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places DFAI in the 48th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DFAISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active International Equity ETFs |
| # of ETFs | 38 |
| Avg. Expense Ratio | 56.2 bp |
| Std. Deviation | 24 bp |
| DFAI (18 bp) Percentile rank | 5 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DFAI | 18.0 | 3.8 | 21.8 |
| Peer Avg. | 43.9 | 35.3 | 79.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .