DFAU vs IWV
Dimensional US Core Equity Market ETF vs iShares Russell 3000 ETF
Which is better, DFAU or IWV?
Nearly the same fund. DFAU costs less.
DFAU has a lower expense ratio. DFAU led over 1Y, 5Y and the full window, IWV over 3Y. The two have moved almost in lockstep, correlation 1.00. DFAU is less concentrated, with 34.0% of the fund in its ten largest positions against 34.6%.
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 | DFAU | IWV |
|---|---|---|
| Expense Ratio | 0.12%Best | 0.20% |
| AUM | $13.1B | $20.7B |
| Dividend Yield | 0.90% | 0.88% |
| Holdings | 2,124 | 5,163 |
| YTD Return | +13.34%Best | +12.89% |
| 1Y Return | +17.35%Best | +16.39% |
| 3Y Return (annualized) | +21.60% | +21.75%Best |
| 5Y Return (annualized) | +12.53%Best | +11.91% |
| Volatility (annualized) | 14.9%Best | 15.0% |
| Max Drawdown | -23.6%Best | -25.1% |
| $10,000 over 5 years | $18,044Best | $17,553 |
| Top 10 Weight | 34.0%Best | 34.6% |
| Fund Family | Dimensional | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 17, 2020 | May 22, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Nov 18, 2020 to Oct 14, 2026 (5.9 years).
DFAU vs IWV 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 5.9 years both funds cover.
DFAU vs IWV Performance
Dimensional US Core Equity Market ETF (DFAU) is an ETF from Dimensional and iShares Russell 3000 ETF (IWV) is an ETF from iShares by BlackRock (US). Over the past year DFAU returned +17.35% while IWV returned +16.39%. Year to date, DFAU is up 13.34% versus a gain of 12.89% for IWV.
Over three years, DFAU compounded at +21.60% per year against +21.75% for IWV; over five years the annualized figures are +12.53% and +11.91% respectively. Across the full 6-year window we track, DFAU has the edge at +15.04% annualized vs +14.40%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IWV has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 14.9% for DFAU. 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 -23.6% for DFAU and -25.1% for IWV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DFAU charges 0.12% per year while IWV charges 0.20%. On a $10,000 position that is $12 vs $20 annually, a gap of $8 per year that compounds over a long holding period. On income, DFAU currently yields 0.90% against 0.88% for IWV.
Holdings Overlap
94.2% of DFAU's money is in holdings IWV also owns. 90.1% of IWV's money is in holdings DFAU also owns.
Most of DFAU is already inside IWV. Owning both mostly buys the same companies twice.
1,929 positions in common, counted across the 2,205 positions we hold weights for in DFAU and 2,586 in IWV, against full books of 2,124 and 5,163.
What only one of them owns
Our book lists 163 positions for IWV that do not appear in our book for DFAU (6.3% of the fund), and 33 for DFAU that do not appear in IWV (3.4%).
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 DFAU | Weight in IWV | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.99% | 7.33% | 0.34% |
| AAPLApple, Inc | 6.81% | 6.50% | 0.31% |
| MSFTMicrosoft Corp | 5.31% | 5.18% | 0.13% |
| AMZNAmazon.Com Inc | 3.34% | 3.28% | 0.06% |
| GOOGLAlphabet Inc | 2.56% | 2.68% | 0.12% |
| AVGOBroadcom Inc | 2.15% | 2.17% | 0.02% |
| GOOGAlphabet Inc. C | 2.11% | 2.17% | 0.06% |
| METAMeta Platforms Inc | 1.87% | 2.17% | 0.30% |
| MUMicron Technology, Inc. | 1.61% | 1.68% | 0.07% |
| TSLATesla Inc | 1.23% | 1.41% | 0.18% |
94.2% of DFAU is already inside IWV.
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, DFAU or IWV?
DFAU has an expense ratio of 0.12% while IWV charges 0.20%. DFAU is the cheaper option, by $8 a year on a $10,000 investment.
Which performed better, DFAU or IWV?
Over the past year DFAU returned +17.35% vs +16.39% for IWV, so DFAU leads on 1-year performance. Over the longest common window we track (6 years), DFAU annualized +15.04% vs +14.40% for IWV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFAU or IWV?
IWV has been the more volatile fund at 15.0% annualized versus 14.9% for DFAU. Worst drawdown: DFAU -23.6% vs IWV -25.1%.
Should I hold both DFAU and IWV?
DFAU and IWV have a monthly-return correlation of 1.00, 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 DFAU and IWV?
94.2% of DFAU's money is in holdings IWV also owns. 90.1% of IWV's is in holdings DFAU also owns. They hold 1,929 positions in common, counted across the 2,205 positions we hold weights for in DFAU and 2,586 in IWV.
Which pays a higher dividend, DFAU or IWV?
DFAU yields 0.90% while IWV yields 0.88%, so DFAU currently pays the higher dividend yield.
Is IWV better than DFAU?
DFAU has a lower expense ratio. DFAU led over 1Y, 5Y and the full window, IWV over 3Y. The two have moved almost in lockstep, correlation 1.00. DFAU is less concentrated, with 34.0% of the fund in its ten largest positions against 34.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.