DFIS
Dimensional International Small Cap ETF
DFIS actively invests in a broad and diverse portfolio of small-cap companies in developed markets outside the US, selected and weighted by market capitalization, in aim of long-term capital appreciation.
Fund Basics
| Fund sponsor | Dimensional Holdings |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 23, 2022 |
| Assets (mns) | $719 |
| Expense ratio | 39 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 +
| SWISS PRIME SITE-REG | 0.4 % |
| ADECCO SA-REG | 0.4 % |
| BANCO BPM SPA | 0.4 % |
| BANCO DE SABADELL SA | 0.3 % |
| SNC-LAVALIN GROUP INC | 0.3 % |
| FINMECCANICA SPA | 0.3 % |
| MEG ENERGY CORP | 0.3 % |
| BALOISE HOLDING-REG | 0.3 % |
| HELVETIA HOLDING AG-REG | 0.3 % |
| BELLWAY PLC | 0.3 % |
Constituent Breakdown
| Number of holdings | 3353 |
| Herfindahl-Hirschman Index | 9 |
| Wgt avg mkt cap (mns) | $2,343 |
| Large cap (>$10bn) | 0.3% |
| Mid cap ($2-10bn) | 49.4% |
| Small cap (<$2bn) | 50.3% |
| Developed mkts. | 99.7% |
| Emerging mkts. | 0.3% |
Country Exposure
 |
JAPAN | 21.3 % |
 |
BRITAIN | 11.0 % |
 |
CANADA | 10.5 % |
 |
SWITZERLAND | 6.9 % |
 |
AUSTRALIA | 6.3 % |
 |
GERMANY | 5.6 % |
 |
FRANCE | 4.5 % |
 |
ITALY | 4.0 % |
 |
DENMARK | 2.3 % |
 |
SPAIN | 2.2 % |
Historical Performance
Standardized Annual Returns (as of 09/30/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 3.9% | 21.4% | -- | -- | -- | -- | -5.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.95 | 78% |
| MSCI EAFE | 1.09 | 98% |
| MSCI Emg Mkts | 0.85 | 67% |
Liquidity Measures
| Avg. volume (000) | 126 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.08% |
| ADV of underlying (mns) | $5,978 |
Technical Indicators
| Recent close | $21.55 |
| 30d moving avg. | $22.57 |
| Annualized volatility | 22.4% |
| Relative strength (RSI) | 43 |
| 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. DFIS |
Expenses vs. DFIS |
ALTAR Score™ vs. DFIS |
|---|---|---|---|---|
| SCZ | iShares MSCI EAFE Small-Cap ETF | 51.6% | 0 bp | -0.4% |
| SCHC | Schwab International Small-Cap Equity ETF | 44.0% | -28 bp | -0.3% |
| PDN | Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF | 39.4% | +10 bp | -1.1% |
| DISV | Dimensional International Small Cap Value ETF | 38.7% | +3 bp | +3.1% |
| IEUS | iShares MSCI Europe Small-Cap ETF | 38.3% | +1 bp | 0.0% |
| FNDC | Schwab Fundamental International Small Co. Index ETF | 37.7% | 0 bp | -0.4% |
| VSS | Vanguard FTSE All-World ex-US Small-Cap ETF | 36.7% | -32 bp | -0.1% |
| ISCF | iShares Edge MSCI Multifactor Intl Small-Cap ETF | 32.3% | -16 bp | +2.0% |
| GWX | SPDR S&P International Small Cap ETF | 29.3% | +1 bp | -0.9% |
| AVDV | Avantis International Small Cap Value ETF | 28.3% | -3 bp | +0.6% |
Risk and Returns: DFIS 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 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 | --% |
Based on closing prices from 10/2/2023
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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
DFIS
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™
DFIS
6.7%
Cat. Avg
7.3%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.7% |
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 270 funds in the International Equities category, with an average ALTAR Score™
of 7.3% and a standard deviation of
2.5%. DFIS's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places DFIS in the 41st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
DFIS
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) |
|
|---|---|---|---|
| DFIS | 39.0 | 7.5 | 46.5 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .