DFAC vs FDWM
Dimensional US Core Equity 2 ETF vs Fidelity Womens Leadership ETF
Which is better, DFAC or FDWM?
Nearly the same fund. DFAC costs less.
DFAC has a lower expense ratio. DFAC led over the full window, FDWM over 1Y. The two have moved almost in lockstep, correlation 0.98. DFAC is less concentrated, with 26.8% of the fund in its ten largest positions against 36.7%.
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 | DFAC | FDWM |
|---|---|---|
| Expense Ratio | 0.17%Best | 0.59% |
| AUM | $88.6B | $5M |
| Dividend Yield | 0.89% | 0.52% |
| Holdings | 2,554 | 82 |
| Volatility (annualized) | 16.3%Best | 17.3% |
| Max Drawdown | -23.1%Best | -29.1% |
| $10,000 over 4.4 years | $15,479Best | $13,877 |
| Top 10 Weight | 26.8%Best | 36.7% |
| Fund Family | Dimensional | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Oct 4, 2007 | Jun 15, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 336 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. DFAC has data through Oct 15, 2026 and FDWM through Nov 13, 2025.
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Jun 17, 2021 to Nov 13, 2025 (4.4 years).
Risk: Volatility and Drawdowns
FDWM has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 16.3% for DFAC. 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 -23.1% for DFAC and -29.1% for FDWM. 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
DFAC charges 0.17% per year while FDWM charges 0.59%. On a $10,000 position that is $17 vs $59 annually, a gap of $42 per year that compounds over a long holding period. On income, DFAC currently yields 0.89% against 0.52% for FDWM.
Holdings Overlap
30.5% of DFAC's money is in holdings FDWM also owns. 91.8% of FDWM's money is in holdings DFAC also owns.
Most of FDWM is already inside DFAC. Owning both mostly buys the same companies twice.
The two holdings books were reported 411 days apart, DFAC as of Sep 15, 2026 and FDWM as of Jul 31, 2025, so some of the difference between them is the time between the two reports rather than the funds.
77 positions in common, counted across the 2,510 positions we hold weights for in DFAC and 86 in FDWM, against full books of 2,554 and 82.
What only one of them owns
Our book lists 7 positions for FDWM that do not appear in our book for DFAC (5.3% of the fund), and 1,377 for DFAC that do not appear in FDWM (66.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in DFAC | Weight in FDWM | Difference |
|---|---|---|---|
| NVDANvidia Corp | 5.53% | 7.02% | 1.49% |
| MSFTMicrosoft Corp | 4.63% | 7.10% | 2.47% |
| AAPLApple, Inc | 5.42% | 5.91% | 0.49% |
| AMZNAmazon.Com Inc | 2.95% | 4.73% | 1.78% |
| GOOGAlphabet Inc. C | 1.00% | 3.70% | 2.70% |
| JPMJpmorgan Chase | 1.08% | 2.12% | 1.04% |
| LLYEli Lilly & Co. | 1.00% | 1.69% | 0.69% |
| MUMicron Technology, Inc. | 1.27% | 1.26% | 0.01% |
| MAMastercard Inc | 0.52% | 1.32% | 0.80% |
| BACBank of America Corp.: Financials | 0.34% | 1.30% | 0.96% |
91.8% of FDWM is already inside DFAC.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFAC or FDWM?
DFAC has an expense ratio of 0.17% while FDWM charges 0.59%. DFAC is the cheaper option, by $42 a year on a $10,000 investment.
Which is riskier, DFAC or FDWM?
FDWM has been the more volatile fund at 17.3% annualized versus 16.3% for DFAC. Worst drawdown: DFAC -23.1% vs FDWM -29.1%.
Should I hold both DFAC and FDWM?
DFAC and FDWM 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.
What is the holdings overlap between DFAC and FDWM?
91.8% of FDWM's money is in holdings DFAC also owns. 91.8% of FDWM's is in holdings DFAC also owns. They hold 77 positions in common, counted across the 2,510 positions we hold weights for in DFAC and 86 in FDWM.
Which pays a higher dividend, DFAC or FDWM?
DFAC yields 0.89% while FDWM yields 0.52%, so DFAC currently pays the higher dividend yield.
Is FDWM better than DFAC?
DFAC has a lower expense ratio. DFAC led over the full window, FDWM over 1Y. The two have moved almost in lockstep, correlation 0.98. DFAC is less concentrated, with 26.8% of the fund in its ten largest positions against 36.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.