Dimensional International Core Equity Market ETF
ALTAR
Score™
6.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
25.0x P/Sales
ratio
1.2x
P/BV
ratio
1.6x Div.
yield
2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
DFAI is an actively-managed fund that seeks a broad exposure to relatively low-priced and profitable stocks in developed countries outside the US.

FUND BASICS
Category International Equities
Fund Sponsor Dimensional Holdings
Website us.dimensional.com
Inception date Nov 17, 2020
Assets (mns) $25
Currency USD
Expense ratio 18 bp
Distributions

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 2644
Wgt avg mkt cap (mns) $211,066
Large cap (>$10bn) 74.0%
Mid cap ($2-10bn) 20.8%
Small cap (<$2bn) 4.6%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NESTLE SA-REG 5.6 %
ROCHE HOLDING AG-GENUSSCHEIN 4.7 %
NOVARTIS AG-REG 3.6 %
ASML HOLDING NV 3.4 %
TOYOTA MOTOR CORP 3.1 %
LVMH MOET HENNESSY LOUIS VUI 3.0 %
ROYAL DUTCH SHELL PLC-B SHS 2.9 %
SONY CORP 2.8 %
AIA GROUP LTD 2.6 %
ASTRAZENECA PLC 2.5 %
Total 34.1 %

TOP COUNTRY EXPOSURE
JAPAN 87.5 %
BRITAIN 45.2 %
CANADA 34.6 %
SWITZERLAND 31.3 %
FRANCE 30.2 %
GERMANY 29.0 %
AUSTRALIA 24.3 %
NETHERLANDS 13.6 %
SWEDEN 11.6 %
HONG KONG 9.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
5.0% -- -- -- 5.0%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $27.44
30d moving avg. $26.69
Annualized volatility 0.0%
Short interest (ETF) 1.4%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 165
Turnover 18.3%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $78,139

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the Dimensional International Core Equity Market ETF ETF based on the alternatives' overlap in portfolio holdings with DFAI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DFAI Expense: 18 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DFAI
Ticker Fund
Name
Overlap1
vs DFAI
(%)
Expense
ratio
(bp)
Savings
vs DFAI
(bp)
ALTAR
Score™
(%)
ALTAR
vs DFAI
(%)
IEV iShares Europe ETF 93.8 59 -41 6.2 -0.2
BBEU JPMorgan BetaBuilders Europe ETF 92.9 9 9 6.6 +0.3
FLEE Franklin FTSE Europe ETF 91.7 9 9 6.4 +0.0
DBEU Xtrackers MSCI Europe Hedged Equity ETF 91.1 45 -27 5.9 -0.4
FLEH Franklin FTSE Europe Hedged ETF 90.8 9 9 6.4 +0.1
IEUR iShares Core MSCI Europe ETF 89.6 9 9 6.5 +0.2
VGK Vanguard FTSE Europe ETF 88.3 8 10 6.7 +0.4
JHMD John Hancock Multifactor Developed International ETF 87.4 39 -21 6.5 +0.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 87.2 20 -2 6.3 0.0
EFA iShares MSCI EAFE ETF 87.0 32 -14 6.2 -0.1
BKIE BNY Mellon International Equity ETF 86.6 4 14 6.5 +0.2
ESGD iShares MSCI EAFE ESG Optimized ETF 86.2 20 -2 6.1 -0.2
EFV iShares MSCI EAFE Value ETF 85.9 39 -21 8.3 +1.9
SPEU SPDR Portfolio Europe ETF 85.9 9 9 6.7 +0.4
IQSI IQ Candriam ESG International Equity ETF 85.6 15 3 6.4 +0.0
GSID Goldman Sachs MarketBeta International Equity ETF 85.4 20 -2 6.3 -0.1
DOL WisdomTree International LargeCap Dividend Fund 85.3 48 -30 7.1 +0.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 85.0 35 -17 6.1 -0.3
EZU iShares MSCI Eurozone ETF 84.1 51 -33 5.9 -0.4
IQLT iShares Edge MSCI Intl Quality Factor ETF 83.6 30 -12 5.2 -1.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 83.5 45 -27 6.0 -0.4
IDEV iShares Core MSCI International Developed Markets ETF 83.4 5 13 6.4 +0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 83.0 45 -27 7.5 +1.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 82.7 14 4 6.1 -0.3
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 82.7 35 -17 5.9 -0.4
EFG iShares MSCI EAFE Growth ETF 82.7 40 -22 4.1 -2.3
IEFA iShares Core MSCI EAFE ETF 82.4 7 11 6.4 +0.1
EURZ Xtrackers Eurozone Equity ETF 82.1 9 9 6.4 +0.1
QEFA SPDR MSCI EAFE Quality Mix ETF 81.8 30 -12 6.0 -0.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 81.7 25 -7 6.0 -0.4
SCHF Schwab International Equity ETF 81.6 6 12 6.5 +0.1
HFXI IQ 50 Percent Hedged FTSE International ETF 80.9 20 -2 6.4 +0.1
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 80.6 25 -7 5.8 -0.5
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 80.3 7 11 6.5 +0.2
PDEV Principal International Multi-Factor Core Index ETF 80.1 25 -7 7.0 +0.7
DWM WisdomTree International Equity Fund 79.7 48 -30 7.1 +0.8
DMXF iShares ESG Advanced MSCI EAFE ETF 79.6 12 6 6.2 -0.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 79.5 40 -22 7.2 +0.9
FNDF Schwab Fundamental International Large Co. Index ETF 78.6 25 -7 7.6 +1.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 77.3 39 -21 5.5 -0.8
VEA Vanguard FTSE Developed Markets ETF 76.9 5 13 6.5 +0.2
IQIN IQ 500 International ETF 76.8 25 -7 7.5 +1.2
SPDW SPDR Portfolio Developed World ex-US ETF 76.8 4 14 6.2 -0.2
RESD WisdomTree International ESG Fund 76.1 30 -12 6.5 +0.1
CIL VictoryShares International Volatility Weighted Index ETF 75.2 45 -27 6.3 -0.0
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 75.0 45 -27 6.3 -0.1
ISDX Invesco RAFI Strategic Developed ex-US ETF 73.9 23 -5 6.2 -0.2
IVLU iShares Edge MSCI Intl Value Factor ETF 72.7 30 -12 9.9 +3.6
ISZE iShares Edge MSCI Intl Size Factor ETF 71.3 30 -12 6.3 -0.1
IMTM iShares Edge MSCI Intl Momentum Factor ETF 70.0 30 -12 4.1 -2.2
VSGX Vanguard ESG International Stock ETF 69.1 17 1 6.3 -0.1
TPIF Timothy Plan International ETF 69.0 62 -44 6.0 -0.3
DTH WisdomTree International High Dividend Fund 67.6 58 -40 8.7 +2.3
AVDE Avantis International Equity ETF 65.5 23 -5 6.9 +0.5
PQIN PGIM QMA Strategic Alpha International Equity ETF 64.8 29 -11 7.0 +0.7
VYMI Vanguard International High Dividend Yield ETF 63.9 27 -9 8.9 +2.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 63.6 39 -21 7.4 +1.0
IPAC iShares Core MSCI Pacific ETF 63.2 9 9 6.3 -0.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 62.6 58 -40 6.4 +0.1
IDHQ Invesco S&P International Developed Quality ETF 62.4 29 -11 4.7 -1.6
NUDM Nuveen ESG International Developed Markets Equity ETF 62.2 40 -22 5.9 -0.5
RBIN Nationwide Risk-Based International Equity ETF 62.2 42 -24 6.0 -0.3
CWI SPDR MSCI ACWI ex-US ETF 61.4 30 -12 6.1 -0.2
ACWX iShares MSCI ACWI ex U.S. ETF 61.1 32 -14 6.3 -0.1
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 60.9 32 -14 5.7 -0.7
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 59.7 24 -6 6.5 +0.2
VEU Vanguard FTSE All-World ex-US Index Fund 59.5 8 10 6.6 +0.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 59.4 40 -22 6.0 -0.3
IGRO iShares International Dividend Growth ETF 59.3 15 3 7.0 +0.7
FIVA Fidelity International Value Factor ETF 59.1 39 -21 8.7 +2.3
IXUS ishares Core MSCI Total International Stock ETF 58.7 9 9 6.4 +0.1
IDMO Invesco S&P International Developed Momentum ETF 58.3 26 -8 3.7 -2.7
VIGI Vanguard International Dividend Appreciation ETF 57.4 20 -2 5.0 -1.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 56.7 16 2 5.9 -0.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 56.6 29 -11 7.2 +0.9
UIVM VictoryShares USAA MSCI International Value Momentum ETF 55.1 35 -17 7.6 +1.3
JPIN JPMorgan Diversified Return International Equity ETF 54.6 37 -19 7.0 +0.7
RNDM First Trust Developed International Equity Select ETF 54.5 65 -47 5.6 -0.7
FDEV Fidelity Targeted International Factor ETF 54.5 39 -21 6.1 -0.2
VWID Virtus WMC International Dividend ETF 54.1 49 -31 7.3 +1.0
QINT American Century Quality Diversified International ETF 53.8 39 -21 5.6 -0.7
EFAV iShares Edge MSCI Min Vol EAFE ETF 53.7 20 -2 5.0 -1.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 53.4 20 -2 9.4 +3.0
OEUR O'shares FTSE Europe Quality Dividend ETF 53.2 48 -30 5.1 -1.3
VPL Vanguard FTSE Pacific ETF 52.4 8 10 6.4 +0.0
FLJP Franklin FTSE Japan ETF 52.1 9 9 6.5 +0.2
FLJH Franklin FTSE Japan Hedged ETF 51.9 9 9 6.5 +0.2
ZJPN SPDR Solactive Japan ETF 51.8 14 4 6.5 +0.2
BBJP JPMorgan BetaBuilders Japan ETF 51.7 19 -1 6.4 +0.1
EWJ iShares MSCI Japan ETF 51.6 51 -33 6.1 -0.3
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 51.5 25 -7 6.2 -0.1
DBJP Xtrackers MSCI Japan Hedged Equity ETF 50.7 45 -27 6.1 -0.3
FEZ SPDR EURO STOXX 50 ETF 49.9 29 -11 6.1 -0.3
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 49.8 20 -2 8.3 +2.0
VXUS Vanguard Total International Stock ETF 49.7 8 10 6.5 +0.2
IQDG WisdomTree International Quality Dividend Growth Fund 49.1 42 -24 5.9 -0.4
JPXN iShares JPX-Nikkei 400 ETF 49.0 48 -30 6.2 -0.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Dimensional International Core Equity Market ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.8 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.54
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.