DFAU vs TILT
Dimensional US Core Equity Market ETF vs Northern Trust Morningstar US Market Factor Tilt ETF
Which is better, DFAU or TILT?
Nearly the same fund. DFAU costs less.
DFAU has a lower expense ratio. DFAU led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 34.0%.
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 | TILT |
|---|---|---|
| Expense Ratio | 0.12%Best | 0.25% |
| AUM | $13.1B | $2.2B |
| Dividend Yield | 0.90% | 1.08% |
| Holdings | 2,124 | 1,929 |
| YTD Return | +13.34%Best | +11.74% |
| 1Y Return | +17.35%Best | +15.61% |
| 3Y Return (annualized) | +21.60%Best | +20.41% |
| 5Y Return (annualized) | +12.53%Best | +11.12% |
| Volatility (annualized) | 14.9%Best | 15.4% |
| Max Drawdown | -23.6%Best | -24.1% |
| $10,000 over 5 years | $18,044Best | $16,942 |
| Top 10 Weight | 34.0% | 27.1%Best |
| Fund Family | Dimensional | Northern Trust Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 17, 2020 | Sep 16, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Nov 18, 2020 to Oct 14, 2026 (5.9 years).
DFAU vs TILT 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 TILT Performance
Dimensional US Core Equity Market ETF (DFAU) is an ETF from Dimensional and Northern Trust Morningstar US Market Factor Tilt ETF (TILT) is an ETF from Northern Trust Asset Management. Over the past year DFAU returned +17.35% while TILT returned +15.61%. Year to date, DFAU is up 13.34% versus a gain of 11.74% for TILT.
Over three years, DFAU compounded at +21.60% per year against +20.41% for TILT; over five years the annualized figures are +12.53% and +11.12% respectively. Across the full 6-year window we track, DFAU has the edge at +15.04% annualized vs +14.20%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TILT has been the more volatile fund, with annualized monthly volatility of 15.4% 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 -24.1% for TILT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. 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 TILT charges 0.25%. On a $10,000 position that is $12 vs $25 annually, a gap of $13 per year that compounds over a long holding period. On income, DFAU currently yields 0.90% against 1.08% for TILT.
Holdings Overlap
97.2% of DFAU's money is in holdings TILT also owns. 94.7% of TILT's money is in holdings DFAU also owns.
Most of DFAU is already inside TILT. Owning both mostly buys the same companies twice.
1,582 positions in common, counted across the 2,205 positions we hold weights for in DFAU and 1,904 in TILT, against full books of 2,124 and 1,929.
What only one of them owns
Our book lists 210 positions for TILT that do not appear in our book for DFAU (4.6% of the fund), and 24 for DFAU that do not appear in TILT (0.7%).
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 TILT | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.99% | 5.56% | 1.43% |
| AAPLApple, Inc | 6.81% | 4.98% | 1.83% |
| MSFTMicrosoft Corp | 5.31% | 3.93% | 1.38% |
| AMZNAmazon.Com Inc | 3.34% | 2.53% | 0.81% |
| GOOGLAlphabet Inc | 2.56% | 2.04% | 0.52% |
| METAMeta Platforms Inc | 1.87% | 2.04% | 0.17% |
| AVGOBroadcom Inc | 2.15% | 1.66% | 0.49% |
| GOOGAlphabet Inc. C | 2.11% | 1.64% | 0.47% |
| MUMicron Technology, Inc. | 1.61% | 1.58% | 0.03% |
| JPMJpmorgan Chase | 1.27% | 1.13% | 0.14% |
97.2% of DFAU is already inside TILT.
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 TILT?
DFAU has an expense ratio of 0.12% while TILT charges 0.25%. DFAU is the cheaper option, by $13 a year on a $10,000 investment.
Which performed better, DFAU or TILT?
Over the past year DFAU returned +17.35% vs +15.61% for TILT, so DFAU leads on 1-year performance. Over the longest common window we track (6 years), DFAU annualized +15.04% vs +14.20% for TILT. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFAU or TILT?
TILT has been the more volatile fund at 15.4% annualized versus 14.9% for DFAU. Worst drawdown: DFAU -23.6% vs TILT -24.1%.
Should I hold both DFAU and TILT?
DFAU and TILT have a monthly-return correlation of 0.99, 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 TILT?
97.2% of DFAU's money is in holdings TILT also owns. 94.7% of TILT's is in holdings DFAU also owns. They hold 1,582 positions in common, counted across the 2,205 positions we hold weights for in DFAU and 1,904 in TILT.
Which pays a higher dividend, DFAU or TILT?
DFAU yields 0.90% while TILT yields 1.08%, so TILT currently pays the higher dividend yield.
Is TILT better than DFAU?
DFAU has a lower expense ratio. DFAU led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 34.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.