DFUV vs SPY
Dimensional US Marketwide Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DFUV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. DFUV led over 1Y, SPY over 3Y and the full window. DFUV is less concentrated, with 26.0% 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 | DFUV | SPY |
|---|---|---|
| Expense Ratio | 0.21% | 0.09%Best |
| AUM | $15.4B | $823.2B |
| Dividend Yield | 1.34% | 0.99% |
| Holdings | 1,325 | 1,515 |
| YTD Return | +19.59%Best | +13.53% |
| 1Y Return | +27.22%Best | +17.47% |
| 3Y Return (annualized) | +20.03% | +22.36%Best |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 16.1% | 15.1%Best |
| Max Drawdown | -17.6%Best | -18.8% |
| $10,000 over 4.4 years | $17,867 | $20,423Best |
| Top 10 Weight | 26.0%Best | 38.2% |
| Fund Family | Dimensional | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | May 31, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: May 9, 2022 to Oct 14, 2026 (4.4 years).
DFUV 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 4.4 years both funds cover.
DFUV vs SPY Performance
Dimensional US Marketwide Value ETF (DFUV) 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 DFUV returned +27.22% while SPY returned +17.47%. Year to date, DFUV is up 19.59% versus a gain of 13.53% for SPY.
Over three years, DFUV compounded at +20.03% per year against +22.36% for SPY. Across the full 4-year window we track, SPY has the edge at +17.62% annualized vs +14.10%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFUV has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.1% 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 -17.6% for DFUV and -18.8% 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFUV charges 0.21% per year while SPY charges 0.09%. On a $10,000 position that is $21 vs $9 annually, a gap of $12 per year that compounds over a long holding period. On income, DFUV currently yields 1.34% against 0.99% for SPY.
Holdings Overlap
80.6% of DFUV's money is in holdings SPY also owns. 37.6% of SPY's money is in holdings DFUV also owns.
Most of DFUV is already inside SPY. Owning both mostly buys the same companies twice.
269 positions in common, counted across the 1,319 positions we hold weights for in DFUV and 504 in SPY, against full books of 1,325 and 1,515.
What only one of them owns
Our book lists 230 positions for SPY that do not appear in our book for DFUV (61.6% of the fund), and 583 for DFUV that do not appear in SPY (17.4%).
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 DFUV | Weight in SPY | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 3.58% | 3.78% | 0.20% |
| JPMJpmorgan Chase | 4.45% | 1.43% | 3.02% |
| XOMExxon Mobil Corp. | 3.37% | 1.04% | 2.33% |
| MUMicron Technology, Inc. | 2.78% | 1.59% | 1.19% |
| BRK.BBrk/B | 2.78% | 1.44% | 1.34% |
| JNJJohnson & Johnson - Common | 2.81% | 0.98% | 1.83% |
| METAMeta Platform Inc | 1.36% | 2.22% | 0.86% |
| CVXChevron Corp. | 2.11% | 0.60% | 1.51% |
| INTCIntel Corporation | 1.36% | 0.73% | 0.63% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.37% | 0.66% | 0.71% |
80.6% of DFUV is already inside SPY.
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, DFUV or SPY?
DFUV has an expense ratio of 0.21% while SPY charges 0.09%. SPY is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, DFUV or SPY?
Over the past year DFUV returned +27.22% vs +17.47% for SPY, so DFUV leads on 1-year performance. Over the longest common window we track (4 years), DFUV annualized +14.10% vs +17.62% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFUV or SPY?
DFUV has been the more volatile fund at 16.1% annualized versus 15.1% for SPY. Worst drawdown: DFUV -17.6% vs SPY -18.8%.
Should I hold both DFUV and SPY?
DFUV and SPY have a monthly-return correlation of 0.84, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DFUV and SPY?
80.6% of DFUV's money is in holdings SPY also owns. 37.6% of SPY's is in holdings DFUV also owns. They hold 269 positions in common, counted across the 1,319 positions we hold weights for in DFUV and 504 in SPY.
Which pays a higher dividend, DFUV or SPY?
DFUV yields 1.34% while SPY yields 0.99%, so DFUV currently pays the higher dividend yield.
Is SPY better than DFUV?
SPY has a lower expense ratio. DFUV led over 1Y, SPY over 3Y and the full window. DFUV is less concentrated, with 26.0% 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.