DFIV
Dimensional International Value ETF
DFIV is an actively managed fund that provides exposure to large value stocks from developed markets while minimizing federal taxes on performance returns.
Fund Basics
| Fund sponsor | Dimensional Fund Advisors LP |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 13, 2021 |
| Assets (mns) | $5,985 |
| Expense ratio | 27 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 | 3.7 % |
| NOVARTIS AG-ADR | 1.7 % |
| HSBC HOLDINGS PLC-SPONS ADR | 1.4 % |
| ZURICH FINANCIAL SERVICES AG | 1.4 % |
| DAIMLER AG-REGISTERED SHARES | 1.2 % |
| TOYOTA MOTOR CORP | 1.1 % |
| COMPAGNIE DE SAINT-GOBAIN | 1.1 % |
| ROYAL AHOLD DELHAIZE N.V. | 0.9 % |
| MITSUBISHI CORP | 0.9 % |
| UNICREDIT S.P.A. | 0.9 % |
Constituent Breakdown
| Number of holdings | 543 |
| Herfindahl-Hirschman Index | 327 |
| Wgt avg mkt cap (mns) | $40,637 |
| Large cap (>$10bn) | 76.4% |
| Mid cap ($2-10bn) | 21.1% |
| Small cap (<$2bn) | 0.6% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
JAPAN | 20.9 % |
 |
FRANCE | 10.7 % |
 |
SWITZERLAND | 9.9 % |
 |
CANADA | 9.5 % |
 |
BRITAIN | 9.4 % |
 |
GERMANY | 6.9 % |
 |
AUSTRALIA | 6.2 % |
 |
NETHERLANDS | 3.1 % |
 |
SPAIN | 2.8 % |
 |
DENMARK | 2.7 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 13.7% | 12.4% | 7.5% | -- | -- | -- | 3.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.81 | 61% |
| MSCI EAFE | 0.95 | 85% |
| MSCI Emg Mkts | 0.81 | 61% |
Liquidity Measures
| Avg. volume (000) | 813 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.03% |
| ADV of underlying (mns) | $16,004 |
Technical Indicators
| Recent close | $33.11 |
| 30d moving avg. | $31.94 |
| Annualized volatility | 20.3% |
| Relative strength (RSI) | 45 |
| 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)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DFIV |
Expenses vs. DFIV |
ALTAR Score™ vs. DFIV |
|---|---|---|---|---|
| EFV | iShares MSCI EAFE Value ETF | 45.2% | +8 bp | -1.1% |
| IVLU | iShares Edge MSCI Intl Value Factor ETF | 43.0% | +3 bp | +0.6% |
| PXF | Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 39.1% | +18 bp | -1.8% |
| FNDF | Schwab Fundamental International Large Co. Index ETF | 38.3% | -2 bp | -0.9% |
| DDWM | WisdomTree Dynamic Currency Hedged International Equity Fund | 38.1% | +13 bp | -1.4% |
| JHMD | John Hancock Multifactor Developed International ETF | 36.0% | +12 bp | -2.5% |
| IQIN | IQ 500 International ETF | 33.9% | -2 bp | -1.5% |
| VYMI | Vanguard International High Dividend Yield ETF | 33.8% | -5 bp | -0.1% |
| DWM | WisdomTree International Equity Fund | 33.6% | +21 bp | -1.7% |
| DIVI | Franklin International Core Dividend Tilt Index ETF | 32.9% | -18 bp | -1.3% |
Risk and Returns: DFIV 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 12/6/2023
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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
DFIV
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™
DFIV
9.3%
Cat. Avg
6.9%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.3% |
Recommendation
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.
Category Overview
There are 261 funds in the International Equities category, with an average ALTAR Score™
of 6.9% and a standard deviation of
2.5%. DFIV's ALTAR Score™ is approximately
1.0 standard deviations
above
the category average. This places DFIV in the 84th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
DFIV
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) |
|
|---|---|---|---|
| DFIV | 27.0 | 3.1 | 30.1 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .