DFEM

Dimensional Emerging Markets Core Equity 2 ETF

DFEM actively selects emerging markets securities of all sizes with a tilt toward small-cap companies, seeking to provide long-term capital appreciation.


Emerging Market

EQUITY

Active

MANAGEMENT STYLE

38 bp

EXPENSES

$3.9 B

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorDimensional Holdings
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateApr 26, 2022
Assets (mns)$3,927
Expense ratio38 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
TAIWAN SEMICONDUCTOR MANUFAC 6.0 %
TENCENT HOLDINGS LTD 3.0 %
SAMSUNG ELECTRONICS CO LTD 2.0 %
ALIBABA GROUP HOLDING LTD. 1.2 %
CHINA CONSTRUCTION BANK-H 1.0 %
PINDUODUO, INC. SPONSORED ADR CLASS A 0.6 %
PETROBRAS - PETROLEO BRAS-PR 0.6 %
NATURAL RESOURCE PARTNERS LP 0.6 %
INFOSYS TECHNOLOGIES LTD 0.5 %
MAHINDRA & MAHINDRA LTD. 0.5 %
Constituent Breakdown
Number of holdings6036
Herfindahl-Hirschman Index 60
Wgt avg mkt cap (mns)$90,354
Large cap (>$10bn)51.6%
Mid cap ($2-10bn)29.7%
Small cap (<$2bn)18.0%
Developed mkts.6.5%
Emerging mkts.93.4%
Country Exposure
CHINA 18.8 %
TAIWAN 18.0 %
INDIA 17.9 %
SOUTH KOREA 10.2 %
BRAZIL 3.8 %
SAUDI ARABIA 3.3 %
HONG KONG 3.0 %
SOUTH AFRICA 2.2 %
MEXICO 1.6 %
MALAYSIA 1.5 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 5.4% 18.0% -- -- -- -- 4.9%
Volatility 12.4% 13.2% 15.7% -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5000.7653%
MSCI EAFE0.9076%
MSCI Emg Mkts0.9797%
Liquidity Measures
Avg. volume (000)581
Turnover0.4%
Avg. Bid/Ask (% of price)0.05%
ADV of underlying (mns)$76,377
Technical Indicators
Recent close$26.87
30d moving avg.$27.00
Annualized volatility19.8%
Relative strength (RSI)56
Short interest (ETF)0.1%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

Risk and Returns: DFEM 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 -- -- -- -- -- -- --
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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 --%
0.9 10.9 1.3 3.1% --
Based on closing prices from 6/18/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
DFEM



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™

DFEM

7.8%

Cat. Avg

7.4%

Fund Category: Emerging

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™7.8%
Recommendation

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.

Category Overview
There are 165 funds in the Emerging category, with an average ALTAR Score™ of 7.4% and a standard deviation of 3.8%. DFEM's ALTAR Score™ is approximately 0.1 standard deviations above the category average. This places DFEM in the 54th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
Update
Today's Trading

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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
DFEM 38.0 4.5 42.5
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .