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 | |
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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 .