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.


Active, Concentrated

MANAGEMENT MATRIX

SCHH

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorDimensional Holdings
CategoryUS Equities
Asset classEquity
Websitelink...
Inception dateFeb 23, 2022
Assets (mns)$766
Expense ratio19 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
PROLOGIS INC 9.2 %
AMERICAN TOWER CORP-CL A 8.3 %
EQUINIX INC 6.6 %
WELLTOWER, INC. 4.3 %
DIGITAL REALTY TRUST INC 3.7 %
CROWN CASTLE INTL CORP 3.6 %
PUBLIC STORAGE 3.6 %
SIMON PROPERTY GROUP INC 3.5 %
REALTY INCOME CORP 3.4 %
VICI PROPERTIES INC 2.6 %
Constituent Breakdown
Number of holdings138
Herfindahl-Hirschman Index 333
Wgt avg mkt cap (mns)$31,106
Large cap (>$10bn)72.9%
Mid cap ($2-10bn)22.0%
Small cap (<$2bn)5.1%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 99.2 %
Historical Performance


Standardized Annual Returns (as of 11/30/2023)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
3.4% -1.8% -- -- -- -- -7.0%
Market Correlations
versus...BetaR-squared
S&P 5000.9779%
MSCI EAFE0.9674%
MSCI Emg Mkts0.7347%
Liquidity Measures
Avg. volume (000)264
Turnover0.7%
Avg. Bid/Ask (% of price)0.09%
ADV of underlying (mns)$3,261
Technical Indicators
Recent close$21.18
30d moving avg.$19.23
Annualized volatility22.6%
Relative strength (RSI)52
Short interest (ETF)0.4%
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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Risk and Returns: DFAR vs. Comps (1 YR)

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Results & Estimates
  2018 2019 2020 2021 2022 2023E 2024E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2022 2023E Fwd Est 2024E
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 --%
5.7 14.7 1.9 4.3% --
Based on closing prices from 11/30/2023
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
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 Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

DFAR

7.4%

Cat. Avg

6.1%

Fund Category: US Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™7.4%
Recommendation

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.

Category Overview
There are 896 funds in the US Equities category, with an average ALTAR Score™ of 6.1% and a standard deviation of 3.1%. DFAR's ALTAR Score™ is approximately 0.4 standard deviations above the category average. This places DFAR in the 66th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
DFAR
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
DFAR 19.0 8.7 27.7
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.