DFIV vs SPY
Dimensional International Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DFIV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. DFIV led over 1Y, 3Y, 5Y and the full window. DFIV is less concentrated, with 15.6% of the fund in its ten largest positions against 38.2%.
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 | DFIV | SPY |
|---|---|---|
| Expense Ratio | 0.27% | 0.09%Best |
| AUM | $21.7B | $823.2B |
| Dividend Yield | 2.78% | 0.99% |
| Holdings | 607 | 1,515 |
| YTD Return | +12.68% | +13.53%Best |
| 1Y Return | +25.67%Best | +17.47% |
| 3Y Return (annualized) | +23.89%Best | +22.36% |
| 5Y Return (annualized) | +14.84%Best | +13.21% |
| Volatility (annualized) | 15.7% | 15.5%Best |
| Max Drawdown | -25.4% | -24.5%Best |
| $10,000 over 5 years | $19,974Best | $18,596 |
| Top 10 Weight | 15.6%Best | 38.2% |
| Fund Family | Dimensional | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Apr 16, 1999 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 13, 2021 to Oct 14, 2026 (5.1 years).
DFIV vs SPY 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 5.1 years both funds cover.
DFIV vs SPY Performance
Dimensional International Value ETF (DFIV) is an ETF from Dimensional and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DFIV returned +25.67% while SPY returned +17.47%. Year to date, DFIV is up 12.68% versus a gain of 13.53% for SPY.
Over three years, DFIV compounded at +23.89% per year against +22.36% for SPY; over five years the annualized figures are +14.84% and +13.21% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFIV has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 15.5% for SPY. 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 -25.4% for DFIV and -24.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.66. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DFIV charges 0.27% per year while SPY charges 0.09%. On a $10,000 position that is $27 vs $9 annually, a gap of $18 per year that compounds over a long holding period. On income, DFIV currently yields 2.78% against 0.99% for SPY.
Holdings Overlap
We hold position weights for 589 holdings in DFIV and 504 in SPY, totalling 97.3% and 99.8% of the two funds. That is not enough of SPY to divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
1 positions in common, counted across the 589 positions we hold weights for in DFIV and 504 in SPY, against full books of 607 and 1,515.
What only one of them owns
Our book lists 495 positions for SPY that do not appear in our book for DFIV (99.0% of the fund), and 13 for DFIV that do not appear in SPY (6.1%).
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 DFIV | Weight in SPY | Difference |
|---|---|---|---|
| IPInternational Paper Co. | 0.02% | 0.03% | 0.01% |
You are not choosing between two funds in isolation.
Whichever of DFIV and SPY 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, DFIV or SPY?
DFIV has an expense ratio of 0.27% while SPY charges 0.09%. SPY is the cheaper option, by $18 a year on a $10,000 investment.
Which performed better, DFIV or SPY?
Over the past year DFIV returned +25.67% vs +17.47% for SPY, so DFIV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFIV or SPY?
DFIV has been the more volatile fund at 15.7% annualized versus 15.5% for SPY. Worst drawdown: DFIV -25.4% vs SPY -24.5%.
Should I hold both DFIV and SPY?
DFIV and SPY have a monthly-return correlation of 0.66, 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, DFIV or SPY?
DFIV yields 2.78% while SPY yields 0.99%, so DFIV currently pays the higher dividend yield.
Is SPY better than DFIV?
SPY has a lower expense ratio. DFIV led over 1Y, 3Y, 5Y and the full window. DFIV is less concentrated, with 15.6% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.