Dimensional World ex U.S. Core Equity 2 ETF
Name
As of 12/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
4.5%
1 yr return
7.7%
3 Yr Avg Return
2.7%
5 Yr Avg Return
N/A
Net Assets
$7.14 B
Holdings in Top 10
9.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.28%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 12/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DFAX - Profile
Distributions
- YTD Total Return 4.5%
- 3 Yr Annualized Total Return 2.7%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 3.8%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDimensional World ex U.S. Core Equity 2 ETF
-
Fund Family NameDimensional Funds
-
Inception DateSep 13, 2021
-
Shares OutstandingN/A
-
Share ClassN/A
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CurrencyUSD
-
Domiciled CountryUS
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ManagerJed Fogdall
Fund Description
Dimensional Fund Advisors LP’s (the “Advisor”) tax management strategies for the World ex U.S. Core Equity 2 ETF are designed to maximize the after tax value of a shareholder’s investment. Generally, the Advisor buys and sells securities for the Portfolio with the goals of: (i) delaying and minimizing the realization of net capital gains (e.g., selling stocks with capital losses to offset gains, realized or anticipated); and (ii) maximizing the extent to which any realized net capital gains are long-term in nature (i.e., taxable at lower capital gains tax rates).
To achieve the World ex U.S. Core Equity 2 ETF’s investment objective, the Advisor implements an integrated investment approach that combines research, portfolio design, portfolio management, and trading functions. As further described below, the Portfolio’s design emphasizes long-term drivers of expected returns identified by the
Advisor’s research, while balancing risk through broad diversification across companies and sectors. The Advisor’s portfolio management and trading processes further balance those long-term drivers of expected returns with shorter-term drivers of expected returns and trading costs.
The World ex U.S. Core Equity 2 ETF is designed to purchase a broad and diverse group of equity securities of non-U.S. companies in countries with developed and emerging markets. The Portfolio invests in companies of all sizes, with increased exposure to smaller capitalization, lower relative price, and higher profitability companies as compared to their representation in the Non-U.S. Universe. For purposes of this Portfolio, the Advisor defines the Non-U.S. Universe as a market capitalization weighted set (e.g., the larger the company, the greater the proportion of the Non-U.S. Universe it represents) of non-U.S. companies in developed and emerging markets that have been authorized for investment as approved markets by the Advisor’s Investment Committee. The Portfolio’s increased exposure to smaller capitalization, lower relative price, and higher profitability companies may be achieved by decreasing the allocation of the Portfolio’s assets to larger capitalization, higher relative price, or lower profitability companies relative to their weight in the Non-U.S. Universe. An equity issuer is considered to have a high relative price (i.e., a growth stock) primarily because it has a high price in relation to its book value. An equity issuer is considered to have a low relative price (i.e., a value stock) primarily because it has a low price in relation to its book value. In assessing relative price, the Advisor may consider additional factors such as price to cash flow or price to earnings ratios. An equity issuer is considered to have high profitability because it has high earnings or profits from operations in relation to its book value or assets. The criteria the Advisor uses for assessing relative price and profitability are subject to change from time to time. The Advisor determines company size on a country or region specific basis and based primarily on market capitalization.
The World ex U.S. Core Equity 2 ETF intends to purchase securities of companies associated with developed market and emerging market countries, which may include frontier markets (emerging market countries in an earlier stage of development), that the Advisor has designated as approved markets. As a non-fundamental policy, under normal circumstances, the Portfolio will invest at least 80% of its net assets in non-U.S. equity securities and/or investments that provide exposure to non-U.S. securities.
The Advisor may also increase or reduce the World ex U.S. Core Equity 2 ETF’s exposure to an eligible company, or exclude a company, based on shorter-term considerations, such as a company’s price momentum, short-run reversals, and investment characteristics. In assessing a company’s investment characteristics, the Advisor considers ratios such as recent changes in assets divided by total assets. The criteria the Advisor uses for assessing a company’s investment characteristics are subject to change from time to time. In addition, the Advisor seeks to reduce trading costs using a flexible trading approach that looks for opportunities to participate in the available market liquidity, while managing turnover and explicit transaction costs.
The World ex U.S. Core Equity 2 ETF may gain exposure to non-U.S. securities by purchasing equity securities in the form of depositary receipts, which may be listed or traded outside the issuer’s domicile country. The Portfolio may also invest in China A-shares (equity securities of companies listed in China) and variable interest entities (special structures that utilize contractual arrangements to provide exposure to certain Chinese companies). The Portfolio may purchase or sell futures contracts and options on futures contracts for foreign or U.S. equity securities and indices, to increase or decrease equity market exposure based on actual or expected cash inflows to or outflows from the Portfolio. Because many of the Portfolio’s investments may be denominated in foreign currencies, the Portfolio may enter into foreign currency exchange transactions, including foreign currency forward contracts, in connection with the settlement of foreign securities or to transfer cash balances from one currency to another currency.
The World ex U.S. Core Equity 2 ETF may lend its portfolio securities to generate additional income.
The World ex U.S. Core Equity 2 ETF is an actively managed exchange-traded fund and does not seek to replicate the performance of a specific index and may have a higher degree of portfolio turnover than such index funds.
DFAX - Performance
Return Ranking - Trailing
Period | DFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.5% | -28.5% | 12.2% | 94.50% |
1 Yr | 7.7% | -31.2% | 121.5% | 93.56% |
3 Yr | 2.7%* | -52.6% | 123.6% | 6.62% |
5 Yr | N/A* | -11.3% | 58.0% | 4.27% |
10 Yr | N/A* | -5.9% | 10.0% | 1.24% |
* Annualized
Return Ranking - Calendar
Period | DFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.1% | -45.5% | 71.3% | N/A |
2022 | -17.3% | -15.4% | 11.9% | N/A |
2021 | N/A | -10.4% | 121.9% | N/A |
2020 | N/A | -33.7% | 8.5% | N/A |
2019 | N/A | -13.0% | 27.5% | N/A |
Total Return Ranking - Trailing
Period | DFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.5% | -28.5% | 12.2% | 97.32% |
1 Yr | 7.7% | -31.2% | 121.5% | 93.56% |
3 Yr | 2.7%* | -52.6% | 123.6% | 6.62% |
5 Yr | N/A* | -11.3% | 58.0% | 4.43% |
10 Yr | N/A* | -3.1% | 10.0% | 1.24% |
* Annualized
Total Return Ranking - Calendar
Period | DFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.6% | -45.5% | 71.3% | N/A |
2022 | -14.4% | -15.4% | 11.9% | N/A |
2021 | N/A | -10.4% | 121.9% | N/A |
2020 | N/A | -18.0% | 8.5% | N/A |
2019 | N/A | -13.0% | 29.4% | N/A |
DFAX - Holdings
Concentration Analysis
DFAX | Category Low | Category High | DFAX % Rank | |
---|---|---|---|---|
Net Assets | 7.14 B | 1.02 M | 369 B | 14.68% |
Number of Holdings | 10095 | 1 | 10801 | 0.26% |
Net Assets in Top 10 | 675 M | 0 | 34.5 B | 38.44% |
Weighting of Top 10 | 9.58% | 1.6% | 100.0% | 99.59% |
Top 10 Holdings
- The DFA Short Term Investment Fund 4.13%
- TOTALENERGIES SE 0.70%
- NOVO NORDISK A S DKK0 1 B 0.69%
- TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 0.69%
- SHELL PLC 0.64%
- NOVARTIS AG SPONSORED ADR 0.58%
- TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 0.57%
- SAMSUNG ELECTRONICS CO LTD 0.54%
- ASML HOLDING NV 0.52%
- TOYOTA MOTOR CORP 0.51%
Asset Allocation
Weighting | Return Low | Return High | DFAX % Rank | |
---|---|---|---|---|
Stocks | 92.76% | 0.00% | 122.60% | 10.42% |
Cash | 4.13% | -65.15% | 100.00% | 87.32% |
Preferred Stocks | 0.00% | 0.00% | 1.87% | 7.13% |
Other | 0.00% | -16.47% | 17.36% | 30.38% |
Convertible Bonds | 0.00% | 0.00% | 4.18% | 4.10% |
Bonds | 0.00% | -10.79% | 71.30% | 13.59% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DFAX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 13.68% | 46.03% |
Technology | 0.00% | 0.00% | 36.32% | 42.80% |
Real Estate | 0.00% | 0.00% | 14.59% | 30.69% |
Industrials | 0.00% | 5.17% | 99.49% | 26.51% |
Healthcare | 0.00% | 0.00% | 21.35% | 93.27% |
Financial Services | 0.00% | 0.00% | 47.75% | 77.93% |
Energy | 0.00% | 0.00% | 16.89% | 14.67% |
Communication Services | 0.00% | 0.00% | 21.69% | 56.93% |
Consumer Defense | 0.00% | 0.00% | 32.29% | 86.27% |
Consumer Cyclical | 0.00% | 0.00% | 36.36% | 21.40% |
Basic Materials | 0.00% | 0.00% | 23.86% | 5.11% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DFAX % Rank | |
---|---|---|---|---|
Non US | 88.91% | 0.00% | 125.24% | 8.45% |
US | 3.85% | -7.78% | 68.98% | 83.09% |
DFAX - Expenses
Operational Fees
DFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.28% | 0.01% | 3.96% | 86.60% |
Management Fee | 0.25% | 0.00% | 1.60% | 14.21% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 1.00% | N/A |
Sales Fees
DFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
DFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
DFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 247.00% | 15.47% |
DFAX - Distributions
Dividend Yield Analysis
DFAX | Category Low | Category High | DFAX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.78% | 0.00% | 13.65% | 9.02% |
Dividend Distribution Analysis
DFAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Quarterly | Annually |
Net Income Ratio Analysis
DFAX | Category Low | Category High | DFAX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -0.93% | 6.38% | 21.28% |
Capital Gain Distribution Analysis
DFAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 17, 2024 | $0.234 | OrdinaryDividend |
Sep 17, 2024 | $0.182 | OrdinaryDividend |
Jun 18, 2024 | $0.296 | OrdinaryDividend |
Mar 19, 2024 | $0.028 | OrdinaryDividend |
Dec 19, 2023 | $0.177 | OrdinaryDividend |
Sep 19, 2023 | $0.214 | OrdinaryDividend |
Jun 21, 2023 | $0.302 | OrdinaryDividend |
Mar 21, 2023 | $0.042 | OrdinaryDividend |
Dec 20, 2022 | $0.187 | OrdinaryDividend |
Sep 20, 2022 | $0.227 | OrdinaryDividend |
Jun 22, 2022 | $0.281 | OrdinaryDividend |
Mar 23, 2022 | $0.017 | OrdinaryDividend |
Mar 22, 2022 | $0.017 | OrdinaryDividend |
Dec 16, 2021 | $0.244 | OrdinaryDividend |
Sep 21, 2021 | $0.121 | OrdinaryDividend |
DFAX - Fund Manager Analysis
Managers
Jed Fogdall
Start Date
Tenure
Tenure Rank
Feb 28, 2010
12.26
12.3%
Jed S. Fogdall is a Co-Head of Portfolio Management and Vice President of Dimensional and a member of Dimensional’s Investment Committee. Mr. Fogdall has an MBA from the University of California, Los Angeles and a BS from Purdue University. Mr. Fogdall joined Dimensional as a Portfolio Manager in 2004 and has been responsible for international portfolios since 2010 and domestic portfolios since 2012.
Bhanu Singh
Start Date
Tenure
Tenure Rank
Jul 21, 2015
6.87
6.9%
Bhanu P. Singh is Vice President and a Senior Portfolio Manager of the Sub-Adviser. Mr. Singh joined Dimensional originally in 2003 and has been a portfolio manager since 2012. Mr. Singh has an M.B.A. from the University of Chicago Booth School of Business and a B.A. from the University of California, Los Angeles.
Allen Pu
Start Date
Tenure
Tenure Rank
Jul 21, 2015
6.87
6.9%
Allen Pu is Deputy Head of Portfolio Management, North America, a member of the Investment Commit- tee, Vice President and a Senior Portfolio Manager of the Sub-Adviser. Mr. Pu joined Dimensional as a Portfolio Manager in 2006. Mr. Pu has an M.B.A. from the University of California, Los Angeles, an M.S. and Ph.D. from Caltech, and a B.S. from Cooper Union for the Advancement of Science and Art.
Mary Phillips
Start Date
Tenure
Tenure Rank
Feb 28, 2017
5.25
5.3%
Mary T. Phillips, CFA, Deputy Head of Portfolio Management, North America, Senior Portfolio Manager and Vice President of Dimensional, joined Dimensional in 2012 and has been a portfolio manager since 2014. Ms. Phillips began managing Dimensional’s allocated portion of the Fund’s portfolio in March 2018. Ms. Phillips earned an MBA with concentration in analytic finance, statistics and econometrics, and managerial and organizational behavior from the University of Chicago and a BA from the University of Puget Sound.
William Collins-Dean
Start Date
Tenure
Tenure Rank
Dec 31, 2019
2.42
2.4%
Will Collins-Dean is a Portfolio Manager and Vice President of the Sub-Adviser. Mr. Collins-Dean received his MBA from the University of Chicago and is bachelor’s degree from Wake Forest University. Mr. Collins-Dean joined the Sub-Adviser in 2014 and has been a portfolio manager since 2016.
Joseph Hohn
Start Date
Tenure
Tenure Rank
Feb 28, 2022
0.25
0.3%
Mr. Hohn is a Portfolio Manager and Vice President of Dimensional Fund Advisors. Mr. Hohn holds an MBA from the University of California, Los Angeles, an MS from the University of Southern California and a BS from Iowa State University. Mr. Hohn joined the Advisor in 2012, has been a portfolio manager since 2015, and has been responsible for the US Large Company Portfolio since 2017.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.35 | 6.13 | 2.92 |