DFUS vs TCAF
Dimensional US Equity Market ETF vs T. Rowe Price Capital Appreciation Equity ETF
Which is better, DFUS or TCAF?
Nearly the same fund. DFUS costs less.
DFUS has a lower expense ratio. DFUS led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. DFUS is less concentrated, with 35.2% of the fund in its ten largest positions against 39.4%.
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 | TCAF |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.31% |
| AUM | $21.6B | $9.1B |
| Dividend Yield | 0.87% | 0.45% |
| Holdings | 2,253 | 101 |
| YTD Return | +13.39% | +13.46%Best |
| 1Y Return | +17.12%Best | +14.72% |
| 3Y Return (annualized) | +22.25%Best | +19.72% |
| 5Y Return (annualized) | +12.82% | - |
| Volatility (annualized) | 12.8% | 12.0%Best |
| Max Drawdown | -19.4% | -16.6%Best |
| $10,000 over 3.3 years | $18,007Best | $16,964 |
| Top 10 Weight | 35.2%Best | 39.4% |
| Fund Family | Dimensional | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 25, 2001 | Jun 14, 2023 |
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 15, 2023 to Oct 14, 2026 (3.3 years).
DFUS vs TCAF 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 3.3 years both funds cover.
DFUS vs TCAF Performance
Dimensional US Equity Market ETF (DFUS) is an ETF from Dimensional and T. Rowe Price Capital Appreciation Equity ETF (TCAF) is an ETF from T.Rowe Price. Over the past year DFUS returned +17.12% while TCAF returned +14.72%. Year to date, DFUS is up 13.39% versus a gain of 13.46% for TCAF.
Over three years, DFUS compounded at +22.25% per year against +19.72% for TCAF.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFUS has been the more volatile fund, with annualized monthly volatility of 12.8% compared with 12.0% for TCAF. 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 -19.4% for DFUS and -16.6% for TCAF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. 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 TCAF charges 0.31%. On a $10,000 position that is $9 vs $31 annually, a gap of $22 per year that compounds over a long holding period. On income, DFUS currently yields 0.87% against 0.45% for TCAF.
Holdings Overlap
44.7% of DFUS's money is in holdings TCAF also owns. 87.2% of TCAF's money is in holdings DFUS also owns.
Most of TCAF is already inside DFUS. Owning both mostly buys the same companies twice.
82 positions in common, counted across the 2,226 positions we hold weights for in DFUS and 98 in TCAF, against full books of 2,253 and 101.
What only one of them owns
Our book lists 10 positions for TCAF that do not appear in our book for DFUS (3.2% of the fund), and 909 for DFUS that do not appear in TCAF (53.1%).
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 DFUS | Weight in TCAF | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.11% | 5.52% | 1.59% |
| AAPLApple, Inc | 6.78% | 4.90% | 1.88% |
| MSFTMicrosoft Corp | 5.21% | 6.01% | 0.80% |
| AMZNAmazon.Com Inc | 3.56% | 5.02% | 1.46% |
| GOOGLAlphabet Inc | 2.78% | 3.15% | 0.37% |
| AVGOBroadcom Inc | 2.38% | 3.30% | 0.92% |
| METAMeta Platforms Inc | 2.04% | 3.52% | 1.48% |
| GOOGAlphabet Inc. C | 2.28% | 1.63% | 0.65% |
| AMDAdvanced Micro Devices Inc | 1.19% | 2.66% | 1.47% |
| MUMicron Technology, Inc. | 1.57% | 1.39% | 0.18% |
87.2% of TCAF 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 TCAF?
DFUS has an expense ratio of 0.09% while TCAF charges 0.31%. DFUS is the cheaper option, by $22 a year on a $10,000 investment.
Which performed better, DFUS or TCAF?
Over the past year DFUS returned +17.12% vs +14.72% for TCAF, so DFUS leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFUS or TCAF?
DFUS has been the more volatile fund at 12.8% annualized versus 12.0% for TCAF. Worst drawdown: DFUS -19.4% vs TCAF -16.6%.
Should I hold both DFUS and TCAF?
DFUS and TCAF have a monthly-return correlation of 0.97, 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 TCAF?
87.2% of TCAF's money is in holdings DFUS also owns. 87.2% of TCAF's is in holdings DFUS also owns. They hold 82 positions in common, counted across the 2,226 positions we hold weights for in DFUS and 98 in TCAF.
Which pays a higher dividend, DFUS or TCAF?
DFUS yields 0.87% while TCAF yields 0.45%, so DFUS currently pays the higher dividend yield.
Is TCAF better than DFUS?
DFUS has a lower expense ratio. DFUS led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. DFUS is less concentrated, with 35.2% of the fund in its ten largest positions against 39.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.