DLCU vs PHEQ
DFA US Large Company ETF vs Parametric Hedged Equity ETF
Which is better, DLCU or PHEQ?
DLCU costs less.
DLCU has a lower expense ratio. DLCU is less concentrated, with 38.1% of the fund in its ten largest positions against 40.8%.
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 | DLCU | PHEQ |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.29% |
| AUM | $14.7B | $152M |
| Dividend Yield | 0.17% | 0.82% |
| Holdings | 509 | 374 |
| YTD Return | +0.04% | +9.39%Best |
| 1Y Return | - | +12.67% |
| 3Y Return (annualized) | - | +14.84% |
| Top 10 Weight | 38.1%Best | 40.8% |
| Fund Family | Dimensional | Parametric |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Aug 4, 2026 | Oct 16, 2023 |
Not shown on this pair: 5Y Return (annualized), Volatility (annualized), Max Drawdown, $10,000 over the window.
DLCU vs PHEQ 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
DLCU vs PHEQ Performance
DFA US Large Company ETF (DLCU) is an ETF from Dimensional and Parametric Hedged Equity ETF (PHEQ) is an ETF from Parametric. Year to date, DLCU is up 0.04% versus a gain of 9.39% for PHEQ.
Past performance does not guarantee future results.
Fees and Cost Over Time
DLCU charges 0.06% per year while PHEQ charges 0.29%. On a $10,000 position that is $6 vs $29 annually, a gap of $23 per year that compounds over a long holding period. On income, DLCU currently yields 0.17% against 0.82% for PHEQ.
Holdings Overlap
68.2% of DLCU's money is in holdings PHEQ also owns. 94.6% of PHEQ's money is in holdings DLCU also owns.
Most of PHEQ is already inside DLCU. Owning both mostly buys the same companies twice.
126 positions in common, counted across the 505 positions we hold weights for in DLCU and 174 in PHEQ, against full books of 509 and 374.
What only one of them owns
Our book lists 39 positions for PHEQ that do not appear in our book for DLCU (7.1% of the fund), and 367 for DLCU that do not appear in PHEQ (31.0%).
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 DLCU | Weight in PHEQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.98% | 8.63% | 0.65% |
| AAPLApple, Inc | 7.33% | 7.52% | 0.19% |
| MSFTMicrosoft Corp | 5.56% | 5.98% | 0.42% |
| AMZNAmazon.Com Inc | 3.81% | 3.93% | 0.12% |
| GOOGLAlphabet Inc | 3.00% | 3.20% | 0.20% |
| AVGOBroadcom Inc | 2.60% | 2.68% | 0.08% |
| GOOGAlphabet Inc. C | 2.41% | 2.69% | 0.28% |
| METAMeta Platforms Inc | 2.16% | 2.40% | 0.24% |
| MUMicron Technology, Inc. | 1.66% | 1.94% | 0.28% |
| TSLATesla Inc | 1.56% | 1.83% | 0.27% |
94.6% of PHEQ is already inside DLCU.
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, DLCU or PHEQ?
DLCU has an expense ratio of 0.06% while PHEQ charges 0.29%. DLCU is the cheaper option, by $23 a year on a $10,000 investment.
What is the holdings overlap between DLCU and PHEQ?
94.6% of PHEQ's money is in holdings DLCU also owns. 94.6% of PHEQ's is in holdings DLCU also owns. They hold 126 positions in common, counted across the 505 positions we hold weights for in DLCU and 174 in PHEQ.
Which pays a higher dividend, DLCU or PHEQ?
DLCU yields 0.17% while PHEQ yields 0.82%, so PHEQ currently pays the higher dividend yield.
Is PHEQ better than DLCU?
DLCU has a lower expense ratio. DLCU is less concentrated, with 38.1% of the fund in its ten largest positions against 40.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.