DFUS vs FDWM
Dimensional US Equity Market ETF vs Fidelity Womens Leadership ETF
Which is better, DFUS or FDWM?
Nearly the same fund. DFUS costs less.
DFUS has a lower expense ratio. DFUS led over the full window, FDWM over 1Y. The two have moved almost in lockstep, correlation 0.98. DFUS is less concentrated, with 35.2% of the fund in its ten largest positions against 36.7%.
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 | DFUS | FDWM |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.59% |
| AUM | $21.6B | $5M |
| Dividend Yield | 0.87% | 0.52% |
| Holdings | 2,253 | 82 |
| Volatility (annualized) | 16.1%Best | 17.3% |
| Max Drawdown | -24.6%Best | -29.1% |
| $10,000 over 4.4 years | $16,640Best | $13,877 |
| Top 10 Weight | 35.2%Best | 36.7% |
| Fund Family | Dimensional | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 25, 2001 | Jun 15, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 335 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. DFUS has data through Oct 14, 2026 and FDWM through Nov 13, 2025.
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Jun 17, 2021 to Nov 13, 2025 (4.4 years).
Risk: Volatility and Drawdowns
FDWM has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 16.1% for DFUS. 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 -24.6% for DFUS and -29.1% for FDWM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DFUS charges 0.09% per year while FDWM charges 0.59%. On a $10,000 position that is $9 vs $59 annually, a gap of $50 per year that compounds over a long holding period. On income, DFUS currently yields 0.87% against 0.52% for FDWM.
Holdings Overlap
38.5% of DFUS's money is in holdings FDWM also owns. 91.1% of FDWM's money is in holdings DFUS also owns.
Most of FDWM is already inside DFUS. Owning both mostly buys the same companies twice.
The two holdings books were reported 411 days apart, DFUS as of Sep 15, 2026 and FDWM as of Jul 31, 2025, so some of the difference between them is the time between the two reports rather than the funds.
76 positions in common, counted across the 2,226 positions we hold weights for in DFUS and 86 in FDWM, against full books of 2,253 and 82.
What only one of them owns
Our book lists 7 positions for FDWM that do not appear in our book for DFUS (5.3% of the fund), and 906 for DFUS that do not appear in FDWM (59.2%).
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 DFUS | Weight in FDWM | Difference |
|---|---|---|---|
| NVDANVIDIA Corporation | 7.11% | 7.02% | 0.09% |
| AAPLApple, Inc | 6.78% | 5.91% | 0.87% |
| MSFTMicrosoft Corp | 5.21% | 7.10% | 1.89% |
| AMZNAmazon.Com Inc | 3.56% | 4.73% | 1.17% |
| GOOGAlphabet Inc Cl C | 2.28% | 3.70% | 1.42% |
| JPMJpmorgan Chase & Co | 1.35% | 2.12% | 0.77% |
| LLYEli Lilly & Co. | 1.26% | 1.69% | 0.43% |
| MUMicron Technology Inc . | 1.57% | 1.26% | 0.31% |
| MAMastercard Inc. Cl A | 0.66% | 1.32% | 0.66% |
| GEVGe Vernova Inc Usd 0.01 | 0.37% | 1.54% | 1.17% |
91.1% of FDWM is already inside DFUS.
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, DFUS or FDWM?
DFUS has an expense ratio of 0.09% while FDWM charges 0.59%. DFUS is the cheaper option, by $50 a year on a $10,000 investment.
Which is riskier, DFUS or FDWM?
FDWM has been the more volatile fund at 17.3% annualized versus 16.1% for DFUS. Worst drawdown: DFUS -24.6% vs FDWM -29.1%.
Should I hold both DFUS and FDWM?
DFUS and FDWM have a monthly-return correlation of 0.98, 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 DFUS and FDWM?
91.1% of FDWM's money is in holdings DFUS also owns. 91.1% of FDWM's is in holdings DFUS also owns. They hold 76 positions in common, counted across the 2,226 positions we hold weights for in DFUS and 86 in FDWM.
Which pays a higher dividend, DFUS or FDWM?
DFUS yields 0.87% while FDWM yields 0.52%, so DFUS currently pays the higher dividend yield.
Is FDWM better than DFUS?
DFUS has a lower expense ratio. DFUS led over the full window, FDWM over 1Y. The two have moved almost in lockstep, correlation 0.98. DFUS is less concentrated, with 35.2% of the fund in its ten largest positions against 36.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.