DFSI
Dimensional International Sustainability Core 1 ETF
DFSI is an actively managed ETF that aims to invest in a portfolio of non-US developed market equities across all market-caps with perceived high profitability and positive sustainability characteristics.
International
EQUITY
Active
MANAGEMENT STYLE
24 bp
EXPENSES
$450.4 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Dimensional |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 01, 2022 |
| Assets (mns) | $450 |
| Expense ratio | 24 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 | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NOVO NORDISK A/S-B | 2.3 % |
| ASML HOLDING NV-NY REG SHS | 1.8 % |
| LVMH MOET HENNESSY LOUIS VUI | 1.2 % |
| ASTRAZENECA PLC-SPONS ADR | 1.1 % |
| UNILEVER PLC-SPONSORED ADR | 1.0 % |
| NOVARTIS AG-ADR | 1.0 % |
| TOYOTA MOTOR CORP | 1.0 % |
| ROCHE HOLDING LTD | 0.9 % |
| RECRUIT HOLDINGS CO LTD | 0.7 % |
| L'OREAL | 0.7 % |
Constituent Breakdown
| Number of holdings | 2982 |
| Herfindahl-Hirschman Index | 32 |
| Wgt avg mkt cap (mns) | $73,027 |
| Large cap (>$10bn) | 64.6% |
| Mid cap ($2-10bn) | 25.7% |
| Small cap (<$2bn) | 8.6% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
JAPAN | 20.7 % |
 |
BRITAIN | 12.0 % |
 |
CANADA | 9.1 % |
 |
SWITZERLAND | 8.0 % |
 |
FRANCE | 7.5 % |
 |
GERMANY | 6.8 % |
 |
NETHERLANDS | 5.9 % |
 |
AUSTRALIA | 5.1 % |
 |
DENMARK | 4.3 % |
 |
SWEDEN | 3.5 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 4.3% | 11.6% | -- | -- | -- | -- | 9.6% | Volatility | 11.8% | 12.9% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.97 | 79% |
| MSCI EAFE | 0.97 | 98% |
| MSCI Emg Mkts | 0.89 | 68% |
Liquidity Measures
| Avg. volume (000) | 49 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.28% |
| ADV of underlying (mns) | $52,988 |
Technical Indicators
| Recent close | $33.24 |
| 30d moving avg. | $33.55 |
| Annualized volatility | 15.5% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 0.9% |
| 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. DFSI |
Expenses vs. DFSI |
ALTAR Score™ vs. DFSI |
|---|---|---|---|---|
| DFIC | Dimensional International Core Equity 2 ETF | 65.3% | -1 bp | +1.3% |
| DFAI | Dimensional International Core Equity Market ETF | 63.6% | -6 bp | +0.8% |
| IEFA | iShares Core MSCI EAFE ETF | 53.4% | -17 bp | +0.6% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 53.4% | -20 bp | +0.7% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 49.8% | -21 bp | +0.7% |
| VEA | Vanguard FTSE Developed Markets ETF | 49.7% | -19 bp | +0.7% |
| EFAX | SPDR MSCI EAFE Fossil Fuel Free ETF | 48.8% | -4 bp | -0.1% |
| EFA | iShares MSCI EAFE ETF | 48.1% | +11 bp | +0.4% |
| AVDE | Avantis International Equity ETF | 47.3% | -1 bp | +1.6% |
| SCHF | Schwab International Equity ETF | 46.8% | -18 bp | +1.0% |
Risk and Returns: DFSI 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 7/25/2024
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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
DFSI
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™
DFSI
6.1%
Cat. Avg
7.2%
Fund Category: International
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.1% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 258 funds in the International category, with an average ALTAR Score™
of 7.2% and a standard deviation of
2.4%. DFSI's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places DFSI in the 34th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
DFSI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Active International Equity ETFs |
| # of ETFs | 38 |
| Avg. Expense Ratio | 56.2 bp |
| Std. Deviation | 24 bp |
| DFSI (24 bp) Percentile rank | 9 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DFSI | 24.0 | 28.2 | 52.2 |
| Peer Avg. | 43.6 | 23.0 | 66.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .