DFEV
Dimensional Emerging Markets Value ETF
DFEV actively selects emerging markets securities of all sizes exhibiting value characteristics, seeking to provide long-term capital appreciation.
Emerging Market
EQUITY
Active
MANAGEMENT STYLE
1.2 B
ASSETS UNDER MGMT
43 bp
EXPENSES
Fund Basics
| Fund sponsor | Dimensional Holdings |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 26, 2022 |
| Assets (mns) | $1,194 |
| Expense ratio | 43 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 +
| CASH AND CASH EQUIVALENTS | 6.6 % |
| ALIBABA GROUP HOLDING LTD. | 2.8 % |
| HYNIX SEMICONDUCTOR INC | 2.4 % |
| RELIANCE INDUSTRIES LTD | 2.4 % |
| CHINA CONSTRUCTION BANK-H | 2.1 % |
| HON HAI PRECISION INDUSTRY | 2.1 % |
| PING AN INSURANCE GROUP CO-H | 1.3 % |
| AXIS BANK LIMITED | 1.3 % |
| IND & COMM BK OF CHINA - H | 1.2 % |
| NATIONAL COMMERCIAL BANK CJSC | 0.9 % |
Constituent Breakdown
| Number of holdings | 3351 |
| Herfindahl-Hirschman Index | 88 |
| Wgt avg mkt cap (mns) | $38,875 |
| Large cap (>$10bn) | 50.2% |
| Mid cap ($2-10bn) | 26.3% |
| Small cap (<$2bn) | 14.4% |
| Developed mkts. | 4.1% |
| Emerging mkts. | 89.7% |
Country Exposure
 |
CHINA | 22.8 % |
 |
TAIWAN | 18.2 % |
 |
INDIA | 15.1 % |
 |
SOUTH KOREA | 11.7 % |
 |
BRAZIL | 3.3 % |
 |
HONG KONG | 3.2 % |
 |
SOUTH AFRICA | 3.0 % |
 |
SAUDI ARABIA | 3.0 % |
 |
MEXICO | 1.8 % |
 |
UAE | 1.5 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 21.7% | 12.1% | 16.1% | 15.8% | -- | -- | -- | 7.3% |
| Dividend Yield | 1.5% | 1.4% | 2.4% | 3.1% | -- | -- | -- | 3.3% |
| Total Returns | 23.1% | 13.4% | 18.5% | 18.9% | -- | -- | -- | 10.6% | Ann. Volatility | 16.2% | 16.2% | 15.3% | 15.2% | -- | -- | -- | 15.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.63 | 39% |
| MSCI EAFE | 0.60 | 44% |
| MSCI Emg Mkts | 0.65 | 59% |
Liquidity Measures
| Avg. volume (000) | 124 |
| ADV traded (mns) | $4 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.12% |
Technical Indicators
| Recent close | $32.38 |
| 30d moving avg. | $31.57 |
| Annualized volatility | 13.6% |
| Relative strength (RSI) | 50 |
| Short interest | 0.7% |
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. |
|---|---|---|---|---|
| DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 41.6% | -5 bp | +8.7% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 38.6% | +6 bp | +9.5% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 37.6% | -8 bp | +8.6% |
| AVEM | Avantis Emerging Markets Equity ETF | 37.5% | -10 bp | +8.3% |
| EVLU | iShares MSCI Emerging Markets Value Factor ETF | 37.4% | -8 bp | +17.2% |
| DEXC | Dimensional Emerging Markets ex China Core EquityETF | 35.5% | +10 bp | +7.4% |
| PXH | Invesco FTSE RAFI Emerging Markets ETF | 35.1% | +6 bp | +15.2% |
| DFSE | Dimensional Emerging Markets Sustainability Core 1 ETF | 34.3% | -2 bp | +8.2% |
| MFEM | PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 33.4% | +7 bp | +10.6% |
| FNDE | Schwab Fundamental Emerging Markets Large Co. Index ETF | 33.3% | -4 bp | +15.8% |
Risk and Returns: DFEV 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 10/17/2025
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™
DFEV
12.5%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 123 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
2.6%. DFEV's ALTAR Score™ is approximately
1.9 standard deviations
above
the category average. This places DFEV in the 97th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DFEVSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Emerging Market Equity ETFs |
| # of ETFs | 27 |
| Avg. Expense Ratio | 57.3 bp |
| Std. Deviation | 21.1 bp |
| DFEV (43 bp) Percentile rank | 25 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DFEV | 43.0 | 12.4 | 55.4 |
| Peer Avg. | 57.3 | 43.0 | 100.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .