DFAU vs TSPA
Dimensional US Core Equity Market ETF vs T Rowe Price US Equity Research ETF
Which is better, DFAU or TSPA?
Nearly the same fund. DFAU costs less.
DFAU has a lower expense ratio. DFAU led over 1Y, TSPA over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. DFAU is less concentrated, with 34.0% of the fund in its ten largest positions against 38.1%.
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 | TSPA |
|---|---|---|
| Expense Ratio | 0.12%Best | 0.34% |
| AUM | $13.1B | $4.7B |
| Dividend Yield | 0.90% | 0.55% |
| Holdings | 2,124 | 330 |
| YTD Return | +13.34%Best | +13.26% |
| 1Y Return | +17.35%Best | +17.33% |
| 3Y Return (annualized) | +21.60% | +22.25%Best |
| 5Y Return (annualized) | +12.53% | +13.59%Best |
| Volatility (annualized) | 15.4%Best | 15.5% |
| Max Drawdown | -23.6%Best | -24.7% |
| $10,000 over 5 years | $18,044 | $18,910Best |
| Top 10 Weight | 34.0%Best | 38.1% |
| Fund Family | Dimensional | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 17, 2020 | Jun 8, 2021 |
Volatility and max drawdown are measured over the window both funds cover: Jun 9, 2021 to Oct 14, 2026 (5.3 years).
DFAU vs TSPA 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.
DFAU vs TSPA Performance
Dimensional US Core Equity Market ETF (DFAU) is an ETF from Dimensional and T Rowe Price US Equity Research ETF (TSPA) is an ETF from T.Rowe Price. Over the past year DFAU returned +17.35% while TSPA returned +17.33%. Year to date, DFAU is up 13.34% versus a gain of 13.26% for TSPA.
Over three years, DFAU compounded at +21.60% per year against +22.25% for TSPA; over five years the annualized figures are +12.53% and +13.59% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TSPA has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 15.4% 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 -24.7% for TSPA. 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 TSPA charges 0.34%. On a $10,000 position that is $12 vs $34 annually, a gap of $22 per year that compounds over a long holding period. On income, DFAU currently yields 0.90% against 0.55% for TSPA.
Holdings Overlap
76.6% of DFAU's money is in holdings TSPA also owns. 96.8% of TSPA's money is in holdings DFAU also owns.
Most of TSPA is already inside DFAU. Owning both mostly buys the same companies twice.
297 positions in common, counted across the 2,205 positions we hold weights for in DFAU and 326 in TSPA, against full books of 2,124 and 330.
What only one of them owns
Our book lists 21 positions for TSPA that do not appear in our book for DFAU (1.9% of the fund), and 865 for DFAU that do not appear in TSPA (20.9%).
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 TSPA | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.99% | 8.18% | 1.19% |
| AAPLApple, Inc | 6.81% | 6.74% | 0.07% |
| MSFTMicrosoft Corp | 5.31% | 5.76% | 0.45% |
| AMZNAmazon.Com Inc | 3.34% | 3.93% | 0.59% |
| GOOGAlphabet Inc. C | 2.11% | 3.15% | 1.04% |
| GOOGLAlphabet Inc | 2.56% | 2.50% | 0.06% |
| AVGOBroadcom Inc | 2.15% | 2.64% | 0.49% |
| METAMeta Platforms Inc | 1.87% | 2.08% | 0.21% |
| MUMicron Technology, Inc. | 1.61% | 1.68% | 0.07% |
| TSLATesla Inc | 1.23% | 1.48% | 0.25% |
96.8% of TSPA is already inside DFAU.
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 TSPA?
DFAU has an expense ratio of 0.12% while TSPA charges 0.34%. DFAU is the cheaper option, by $22 a year on a $10,000 investment.
Which performed better, DFAU or TSPA?
Over the past year DFAU returned +17.35% vs +17.33% for TSPA, so DFAU leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFAU or TSPA?
TSPA has been the more volatile fund at 15.5% annualized versus 15.4% for DFAU. Worst drawdown: DFAU -23.6% vs TSPA -24.7%.
Should I hold both DFAU and TSPA?
DFAU and TSPA 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 TSPA?
96.8% of TSPA's money is in holdings DFAU also owns. 96.8% of TSPA's is in holdings DFAU also owns. They hold 297 positions in common, counted across the 2,205 positions we hold weights for in DFAU and 326 in TSPA.
Which pays a higher dividend, DFAU or TSPA?
DFAU yields 0.90% while TSPA yields 0.55%, so DFAU currently pays the higher dividend yield.
Is TSPA better than DFAU?
DFAU has a lower expense ratio. DFAU led over 1Y, TSPA over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. DFAU is less concentrated, with 34.0% of the fund in its ten largest positions against 38.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.