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
9.2 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) | $9,222 |
| 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 +
| CITIC PRESS CORP | 6.0 % |
| GOLDMAN SACHS GROUP INC | 1.8 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 0.8 % |
| TENCENT HOLDINGS LTD | 0.8 % |
| TAIWAN SEMICONDUCTOR-SP ADR | 0.8 % |
| NOVARTIS AG-ADR | 0.7 % |
| SAMSUNG ELECTRONICS CO LTD | 0.6 % |
| TOYOTA MOTOR CORP | 0.5 % |
| TOTAL SA | 0.5 % |
| SHELL PLC-ADR | 0.5 % |
Constituent Breakdown
| Number of holdings | 10447 |
| Herfindahl-Hirschman Index | 49 |
| Wgt avg mkt cap (mns) | $65,553 |
| Large cap (>$10bn) | 55.3% |
| Mid cap ($2-10bn) | 25.4% |
| Small cap (<$2bn) | 11.1% |
| Developed mkts. | 66.3% |
| Emerging mkts. | 26.7% |
Country Exposure
 |
JAPAN | 14.7 % |
 |
CANADA | 7.3 % |
 |
CHINA | 7.1 % |
 |
BRITAIN | 6.0 % |
 |
TAIWAN | 5.8 % |
 |
GERMANY | 5.7 % |
 |
SWITZERLAND | 4.9 % |
 |
FRANCE | 4.7 % |
 |
INDIA | 4.3 % |
 |
AUSTRALIA | 4.0 % |
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 17.8% | 12.7% | 9.7% | 9.7% | -- | -- | -- | 1.9% |
| Dividend Yield | 0.0% | 0.8% | 2.0% | 2.6% | -- | -- | -- | 2.6% |
| Total Returns | 17.8% | 13.4% | 11.7% | 12.4% | -- | -- | -- | 4.5% | Ann. Volatility | 18.0% | 16.7% | 14.5% | 15.4% | -- | -- | -- | 16.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.79 | 62% |
| MSCI EAFE | 0.83 | 76% |
| MSCI Emg Mkts | 0.76 | 67% |
Liquidity Measures
| Avg. volume (000) | 555 |
| ADV traded (mns) | $17 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.05% |
Technical Indicators
| Recent close | $30.52 |
| 30d moving avg. | $29.79 |
| Annualized volatility | 15.4% |
| Relative strength (RSI) | 64 |
| Short interest | 0.1% |
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| DFIC | Dimensional International Core Equity 2 ETF | 60.5% | -7 bp | +7.3% |
| DFAI | Dimensional International Core Equity Market ETF | 54.0% | -12 bp | +7.0% |
| IXUS | iShares Core MSCI Total International Stock ETF | 53.8% | -23 bp | +7.8% |
| VXUS | Vanguard Total International Stock ETF | 53.5% | -25 bp | +7.8% |
| DXIV | Dimensional International Vector Equity ETF | 50.4% | +4 bp | +7.7% |
| VEU | Vanguard FTSE All-World ex-US Index Fund | 49.6% | -26 bp | +8.0% |
| DFSI | Dimensional International Sustainability Core 1 ETF | 46.6% | -6 bp | +6.2% |
| ACWX | iShares MSCI ACWI ex U.S. ETF | 46.4% | +4 bp | +7.6% |
| VEA | Vanguard FTSE Developed Markets ETF | 45.0% | -27 bp | +7.0% |
| VSGX | Vanguard ESG International Stock ETF | 45.0% | -20 bp | +7.7% |
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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 8/20/2025
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
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
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
DFAX
7.7%
Cat. Avg
4.4%
ALTAR Score™ Calculation
Category Overview
There are 371 funds in the Global Equity category, with an average ALTAR Score™
of 4.4% and a standard deviation of
3.3%. DFAX's ALTAR Score™ is approximately
1.0 standard deviations
above
the category average. This places DFAX in the 84th 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 |
| (30 bp) Percentile rank | 8 |
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 | 0.0 | 30 |
| Peer Avg. | 64.6 | 28.5 | 93.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .