DFIC
Dimensional International Core Equity 2 ETF
DFIC actively selects companies of all market capitalizations in developed markets outside the US. Holdings are fundamentally screened to emphasize relatively low-priced and profitable small-caps.
Fund Basics
| Fund sponsor | Dimensional Holdings |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 23, 2022 |
| Assets (mns) | $2,558 |
| Expense ratio | 23 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 +
| TOTAL SA | 1.0 % |
| NESTLE SA-REG | 0.8 % |
| LVMH MOET HENNESSY LOUIS VUI | 0.8 % |
| ASML HOLDING NV-NY REG SHS | 0.8 % |
| BHP BILLITON LTD-SPON ADR | 0.7 % |
| BP PLC-SPONS ADR | 0.7 % |
| ROCHE HOLDING LTD | 0.6 % |
| RIO TINTO PLC | 0.6 % |
| NOVARTIS AG-ADR | 0.6 % |
| SONY CORP | 0.5 % |
Constituent Breakdown
| Number of holdings | 3792 |
| Herfindahl-Hirschman Index | 17 |
| Wgt avg mkt cap (mns) | $9,657 |
| Large cap (>$10bn) | 18.4% |
| Mid cap ($2-10bn) | 29.2% |
| Small cap (<$2bn) | 13.5% |
| Developed mkts. | 99.9% |
| Emerging mkts. | 0.1% |
Country Exposure
 |
JAPAN | 20.9 % |
 |
BRITAIN | 11.1 % |
 |
CANADA | 10.6 % |
 |
SWITZERLAND | 8.2 % |
 |
FRANCE | 7.4 % |
 |
GERMANY | 7.1 % |
 |
AUSTRALIA | 6.6 % |
 |
NETHERLANDS | 3.6 % |
 |
SWEDEN | 2.5 % |
 |
DENMARK | 2.4 % |
Historical Performance
Standardized Annual Returns (as of 12/31/2022)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -- | -- | -- | -- | -- | -- | -11.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 1,675 |
| Turnover | 1.6% |
| Avg. Bid/Ask (% of price) | 0.05% |
| ADV of underlying (mns) | $57,357 |
Technical Indicators
| Recent close | $24.45 |
| 30d moving avg. | $23.12 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 67 |
| Short interest (ETF) | 0.0% |
| 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. DFIC |
Expenses vs. DFIC |
ALTAR Score™ vs. DFIC |
|---|---|---|---|---|
| DFAI | Dimensional International Core Equity Market ETF | 65.1% | -5 bp | -0.4% |
| AVDE | Avantis International Equity ETF | 55.2% | 0 bp | +1.0% |
| DFAX | Dimensional World ex U.S. Core Equity 2 ETF | 54.5% | +8 bp | +1.5% |
| IEFA | iShares Core MSCI EAFE ETF | 49.4% | -16 bp | -0.3% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 49.0% | -19 bp | -0.2% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 46.0% | -19 bp | -0.4% |
| VEA | Vanguard FTSE Developed Markets ETF | 46.0% | -18 bp | +0.0% |
| PBDM | Invesco PureBeta FTSE Developed ex-North America ETF | 45.3% | -16 bp | +0.1% |
| TLTD | FlexShares Morningstar Developed Markets ex-US Factor Tilt | 44.9% | +16 bp | +0.1% |
| PXF | Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 43.5% | +22 bp | +0.8% |
Risk and Returns: DFIC 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
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2021 | 2022E | Fwd Est | 2023E | |
| 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 1/26/2023
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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
DFIC
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™
DFIC
7.0%
Cat. Avg
7.4%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.0% |
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 271 funds in the International Equities category, with an average ALTAR Score™
of 7.4% and a standard deviation of
2.5%. DFIC's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places DFIC in the 44th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
DFIC
Peer Average
Recent Trends
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) |
|
|---|---|---|---|
| DFIC | 23.0 | 4.9 | 27.9 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .