AFSM vs DFAS
First Trust Active Factor Small Cap ETF vs Dimensional US Small Cap ETF
Which is better, AFSM or DFAS?
Nearly the same fund. DFAS costs less.
DFAS has a lower expense ratio. AFSM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AFSM | DFAS |
|---|---|---|
| Expense Ratio | 0.75% | 0.27%Best |
| AUM | $130M | $34.2B |
| Dividend Yield | 0.52% | 1.04% |
| Holdings | 657 | 2,060 |
| YTD Return | +19.57%Best | +10.62% |
| 1Y Return | +23.10%Best | +14.08% |
| 3Y Return (annualized) | +19.42%Best | +15.46% |
| 5Y Return (annualized) | +9.06%Best | +7.05% |
| Volatility (annualized) | 19.5% | 18.9%Best |
| Max Drawdown | -28.3% | -26.1%Best |
| $10,000 over 5 years | $15,429Best | $14,058 |
| Fund Family | First Trust Portfolios (US) | Dimensional |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Dec 4, 2019 | Dec 15, 1998 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 14, 2021 to Oct 14, 2026 (5.3 years).
AFSM vs DFAS growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5.3 years both funds cover.
AFSM vs DFAS Performance
First Trust Active Factor Small Cap ETF (AFSM) is an ETF from First Trust Portfolios (US) and Dimensional US Small Cap ETF (DFAS) is an ETF from Dimensional. Over the past year AFSM returned +23.10% while DFAS returned +14.08%. Year to date, AFSM is up 19.57% versus a gain of 10.62% for DFAS.
Over three years, AFSM compounded at +19.42% per year against +15.46% for DFAS; over five years the annualized figures are +9.06% and +7.05% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AFSM has been the more volatile fund, with annualized monthly volatility of 19.5% compared with 18.9% for DFAS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -28.3% for AFSM and -26.1% for DFAS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AFSM charges 0.75% per year while DFAS charges 0.27%. On a $10,000 position that is $75 vs $27 annually, a gap of $48 per year that compounds over a long holding period. On income, AFSM currently yields 0.52% against 1.04% for DFAS.
Holdings Overlap
We hold position weights for 321 holdings in AFSM and 1,552 in DFAS, totalling 99.8% and 93.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 321 positions we hold weights for in AFSM and 1,552 in DFAS, against full books of 657 and 2,060.
You are not choosing between two funds in isolation.
Whichever of AFSM and DFAS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AFSM or DFAS?
AFSM has an expense ratio of 0.75% while DFAS charges 0.27%. DFAS is the cheaper option, by $48 a year on a $10,000 investment.
Which performed better, AFSM or DFAS?
Over the past year AFSM returned +23.10% vs +14.08% for DFAS, so AFSM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AFSM or DFAS?
AFSM has been the more volatile fund at 19.5% annualized versus 18.9% for DFAS. Worst drawdown: AFSM -28.3% vs DFAS -26.1%.
Should I hold both AFSM and DFAS?
AFSM and DFAS have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, AFSM or DFAS?
AFSM yields 0.52% while DFAS yields 1.04%, so DFAS currently pays the higher dividend yield.
Is DFAS better than AFSM?
DFAS has a lower expense ratio. AFSM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. Which one suits a particular account depends on what it is for. This is information, not a recommendation.