DFAS vs SMLL
Dimensional US Small Cap ETF vs Harbor Active Small Cap ETF
Which is better, DFAS or SMLL?
DFAS has been ahead.
DFAS has a lower expense ratio. DFAS led over 1Y and the full window.
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 | DFAS | SMLL |
|---|---|---|
| Expense Ratio | 0.27%Best | 0.80% |
| AUM | $34.2B | $12M |
| Dividend Yield | 1.04% | 1.63% |
| Holdings | 2,060 | 103 |
| YTD Return | +10.62%Best | +2.49% |
| 1Y Return | +14.08%Best | -0.71% |
| 3Y Return (annualized) | +15.46% | - |
| 5Y Return (annualized) | +7.05% | - |
| Volatility (annualized) | 15.9%Best | 17.4% |
| Max Drawdown | -26.1% | -23.6%Best |
| $10,000 over 2.1 years | $12,344Best | $10,541 |
| Fund Family | Dimensional | Harbor Funds |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Dec 15, 1998 | Aug 27, 2024 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Aug 29, 2024 to Oct 14, 2026 (2.1 years).
DFAS vs SMLL 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 2.1 years both funds cover.
DFAS vs SMLL Performance
Dimensional US Small Cap ETF (DFAS) is an ETF from Dimensional and Harbor Active Small Cap ETF (SMLL) is an ETF from Harbor Funds. Over the past year DFAS returned +14.08% while SMLL returned -0.71%. Year to date, DFAS is up 10.62% versus a gain of 2.49% for SMLL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMLL has been the more volatile fund, with annualized monthly volatility of 17.4% compared with 15.9% 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 -26.1% for DFAS and -23.6% for SMLL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFAS charges 0.27% per year while SMLL charges 0.80%. On a $10,000 position that is $27 vs $80 annually, a gap of $53 per year that compounds over a long holding period. On income, DFAS currently yields 1.04% against 1.63% for SMLL.
Holdings Overlap
We hold position weights for 1,552 holdings in DFAS and 51 in SMLL, totalling 93.8% and 97.4% 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 1,552 positions we hold weights for in DFAS and 51 in SMLL, against full books of 2,060 and 103.
You are not choosing between two funds in isolation.
Whichever of DFAS and SMLL 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, DFAS or SMLL?
DFAS has an expense ratio of 0.27% while SMLL charges 0.80%. DFAS is the cheaper option, by $53 a year on a $10,000 investment.
Which performed better, DFAS or SMLL?
Over the past year DFAS returned +14.08% vs -0.71% for SMLL, so DFAS leads on 1-year performance. Over the longest common window we track (2 years), DFAS annualized +10.55% vs +2.54% for SMLL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFAS or SMLL?
SMLL has been the more volatile fund at 17.4% annualized versus 15.9% for DFAS. Worst drawdown: DFAS -26.1% vs SMLL -23.6%.
Should I hold both DFAS and SMLL?
DFAS and SMLL have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DFAS or SMLL?
DFAS yields 1.04% while SMLL yields 1.63%, so SMLL currently pays the higher dividend yield.
Is SMLL better than DFAS?
DFAS has a lower expense ratio. DFAS led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.