DFSE
Dimensional Emerging Markets Sustainability Core 1 ETF
DFSE is an actively managed ETF that aims to invest in a portfolio of emerging market equities across all market-caps with perceived high profitability and positive sustainability characteristics.
Emerging Market
EQUITY
Active
MANAGEMENT STYLE
$ 594.3 M
ASSETS UNDER MGMT
41 bp
EXPENSES
Fund Basics
| Inception date | Nov 01, 2022 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| CURRENCY CONTRACT-2527264777 BUYSAR SELL | 9.5 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 8.0 % |
| HYNIX SEMICONDUCTOR INC | 4.9 % |
| SAMSUNG ELECTR-GDR REGS | 2.9 % |
| TENCENT HOLDINGS LTD | 2.4 % |
| SAMSUNG ELECTRONICS CO LTD | 2.2 % |
| NATURAL RESOURCE PARTNERS LP | 1.0 % |
| ALIBABA GROUP HOLDING LTD. | 0.9 % |
| MEDIATEK INC | 0.8 % |
| LENOVO GROUP LTD | 0.8 % |
Constituent Breakdown
| Number of holdings | 3790 |
| Herfindahl-Hirschman Index | 209 |
| Wgt avg mkt cap (mns) | $276,827 |
| Large cap (>$10bn) | 57.6% |
| Mid cap ($2-10bn) | 21.6% |
| Small cap (<$2bn) | 9.6% |
| Developed mkts. | 4.7% |
| Emerging mkts. | 86.0% |
Sector Breakdown
Country Exposure
 |
TAIWAN | 25.5 % |
 |
SOUTH KOREA | 19.0 % |
 |
CHINA | 17.1 % |
 |
INDIA | 9.0 % |
 |
BRAZIL | 3.4 % |
 |
HONG KONG | 2.6 % |
 |
SOUTH AFRICA | 2.1 % |
 |
SAUDI ARABIA | 1.7 % |
 |
MEXICO | 1.5 % |
 |
UAE | 1.4 % |
Historical Performance
Standardized Performance (as of 06/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 17.8% | 28.4% | 20.9% | 17.1% | -- | -- | -- | 19.7% |
| Dividend Yield | 0.8% | 2.7% | 2.7% | 2.6% | -- | -- | -- | 2.5% |
| Total Returns | 18.6% | 31.1% | 23.5% | 19.7% | -- | -- | -- | 22.2% | Ann. Volatility | 26.8% | 20.7% | 20.4% | 18.5% | -- | -- | -- | 18.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.29 | 60% |
| MSCI EAFE | 1.07 | 64% |
| MSCI Emg Mkts | 0.89 | 96% |
Liquidity Measures
| Avg. volume (000) | 29 |
| ADV traded (mns) | $1 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.40% |
Technical Indicators
| 30d moving avg. (EMA) | $48.35 |
| Relative strength (RSI) | 51 |
| MACD/Signal | -0.15/-0.05 |
| Bollinger Bands (Upper/Lower) | $50.69/$46.75 |
| Short interest (% of AUM) | 0.2% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DFSE |
Expenses vs. DFSE |
ALTAR Score™ vs. DFSE |
|---|---|---|---|---|
| DFAE | Dimensional Emerging Core Equity Market ETF | 62.5% | -6 bp | +0.6% |
| DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 62.2% | -3 bp | 0.0% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 53.4% | -32 bp | +1.2% |
| DEXC | Dimensional Emerging Markets ex China Core EquityETF | 52.7% | +12 bp | -2.0% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 50.4% | -11 bp | +1.8% |
| HEEM | iShares Currency Hedged MSCI Emerging Markets ETF | 49.7% | +28 bp | +0.6% |
| EEM | iShares MSCI Emerging Markets ETF | 49.6% | +28 bp | +1.6% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 48.9% | -30 bp | +1.6% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 48.5% | -5 bp | +0.6% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 47.5% | +25 bp | +0.9% |
Risk and Returns: DFSE 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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025 | 2026 | 2027 | |
| 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 7/17/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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
8.0%
ALTAR SCORE™
52nd
PERCENTILE
NEUTRAL
ETFRC RATING
There are 208 funds in the Emerging Equity category with an average
ALTAR Score™ of 7.9% and a standard deviation
of 2.3%. DFSE's ALTAR Score™ is approximately 0.1 standard
deviations above the category average. This places DFSE in the 52nd percentile
among funds in the category.
Sell-Side Consensus
$56.72
PRICE TARGET
+22.2%
UPSIDE