DFVX vs MSLC
Dimensional US Large Cap Vector ETF vs Morgan Stanley Pathway Large Cap Equity ETF
Which is better, DFVX or MSLC?
DFVX has been ahead.
DFVX has a lower expense ratio. DFVX led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. DFVX is less concentrated, with 33.1% of the fund in its ten largest positions against 35.6%.
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 | DFVX | MSLC |
|---|---|---|
| Expense Ratio | 0.19%Best | 0.39% |
| AUM | $551M | $4.1B |
| Dividend Yield | 1.13% | 1.95% |
| Holdings | 325 | 793 |
| YTD Return | +14.81%Best | +10.97% |
| 1Y Return | +18.85%Best | +14.08% |
| 3Y Return (annualized) | +20.20% | - |
| Volatility (annualized) | 11.2%Best | 11.9% |
| Max Drawdown | -16.7%Best | -17.9% |
| $10,000 over 1.8 years | $12,694Best | $12,375 |
| Top 10 Weight | 33.1%Best | 35.6% |
| Fund Family | Dimensional | Morgan Stanley |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 2, 2023 | Dec 9, 2024 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 9, 2024 to Oct 14, 2026 (1.8 years).
DFVX vs MSLC 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 1.8 years both funds cover.
DFVX vs MSLC Performance
Dimensional US Large Cap Vector ETF (DFVX) is an ETF from Dimensional and Morgan Stanley Pathway Large Cap Equity ETF (MSLC) is an ETF from Morgan Stanley. Over the past year DFVX returned +18.85% while MSLC returned +14.08%. Year to date, DFVX is up 14.81% versus a gain of 10.97% for MSLC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MSLC has been the more volatile fund, with annualized monthly volatility of 11.9% compared with 11.2% for DFVX. 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 -16.7% for DFVX and -17.9% for MSLC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DFVX charges 0.19% per year while MSLC charges 0.39%. On a $10,000 position that is $19 vs $39 annually, a gap of $20 per year that compounds over a long holding period. On income, DFVX currently yields 1.13% against 1.95% for MSLC.
Holdings Overlap
97.3% of DFVX's money is in holdings MSLC also owns. 72.2% of MSLC's money is in holdings DFVX also owns.
Most of DFVX is already inside MSLC. Owning both mostly buys the same companies twice.
306 positions in common, counted across the 325 positions we hold weights for in DFVX and 789 in MSLC, against full books of 325 and 793.
What only one of them owns
Our book lists 395 positions for MSLC that do not appear in our book for DFVX (24.9% of the fund), and 12 for DFVX that do not appear in MSLC (2.1%).
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 DFVX | Weight in MSLC | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.35% | 5.55% | 0.80% |
| AMZNAmazon.Com Inc | 5.06% | 4.07% | 0.99% |
| NVDANvidia Corp | 1.22% | 7.04% | 5.82% |
| METAMeta Platforms Inc | 5.27% | 2.31% | 2.96% |
| GOOGLAlphabet Inc | 2.94% | 3.23% | 0.29% |
| AAPLApple, Inc | 0.04% | 5.80% | 5.76% |
| MUMicron Technology Inc Mu Uw Equity Us Usd | 2.78% | 1.60% | 1.18% |
| GOOGAlphabet Inc. C | 2.36% | 1.95% | 0.41% |
| JPMJpmorgan Chase | 2.41% | 1.61% | 0.80% |
| XOMExxonmobil Corp. | 2.25% | 1.07% | 1.18% |
97.3% of DFVX is already inside MSLC.
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, DFVX or MSLC?
DFVX has an expense ratio of 0.19% while MSLC charges 0.39%. DFVX is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, DFVX or MSLC?
Over the past year DFVX returned +18.85% vs +14.08% for MSLC, so DFVX leads on 1-year performance. Over the longest common window we track (2 years), DFVX annualized +14.17% vs +12.57% for MSLC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFVX or MSLC?
MSLC has been the more volatile fund at 11.9% annualized versus 11.2% for DFVX. Worst drawdown: DFVX -16.7% vs MSLC -17.9%.
Should I hold both DFVX and MSLC?
DFVX and MSLC have a monthly-return correlation of 0.93, 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 DFVX and MSLC?
97.3% of DFVX's money is in holdings MSLC also owns. 72.2% of MSLC's is in holdings DFVX also owns. They hold 306 positions in common, counted across the 325 positions we hold weights for in DFVX and 789 in MSLC.
Which pays a higher dividend, DFVX or MSLC?
DFVX yields 1.13% while MSLC yields 1.95%, so MSLC currently pays the higher dividend yield.
Is MSLC better than DFVX?
DFVX has a lower expense ratio. DFVX led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. DFVX is less concentrated, with 33.1% of the fund in its ten largest positions against 35.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.