CCFE vs DFAC

CCFEFConcourse Capital Focused Equity ETF

DFACADimensional US Core Equity 2 ETF

In short

CCFE A 20-to-30-stock mid-cap book from a boutique sub-adviser, wrapped in an ETF. Concentrated, bottom-up, and priced like the active management it is at 0.96%.

DFAC Dimensional's whole-market workhorse: roughly 2,600 US stocks in one ticker, run by managers who weigh federal tax consequences before they trade, at a fee closer to index funds than to active ones.

Stated mandate

CCFE The Fund seeks long-term capital appreciation through an actively managed equity portfolio, primarily consisting of mid-capitalization companies. The adviser applies bottom-up fundamental analysis and ranks companies using quality, valuation, and investment-thesis timing criteria.

DFAC The fund seeks long-term capital appreciation while considering federal income-tax implications in its investment decisions.

Why people hold it

• CCFE Real concentration, not closet indexing: the prospectus targets roughly 20 to 30 companies, mostly mid-caps it defines as $2 billion to $25 billion in market value.etfarchitect.com
• The process is written down: bottom-up fundamental analysis ranking companies on quality, valuation and investment-thesis timing. You can hold the portfolio to that standard.etfarchitect.com
• Boutique stock picker, established plumbing: Concourse Capital Advisors sub-advises, with EA Advisers as adviser inside EA Series Trust and a Nasdaq listing.sec.gov

• DFAC 0.17% a year for an actively run fund, well under the median fee among active US equity ETFs.
• About 2,600 US stocks under one ticker, so it holds the market broadly rather than a narrow slice of it.
• Federal income-tax implications sit inside the stated objective, not in a footnote, so they factor into what managers buy and sell.
• A multi-billion-dollar fund with a track record running back to 2007 and one of the strongest implementations in its peer group.

Worth knowing

• CCFE At 0.96%, with no fee waiver in place, it costs above the typical fund in its active US equity category. Broad peers like DFAU (0.12%) and DFAC (0.17%) charge a fraction.
• Small and thinly traded, so the bid-ask spread is part of the cost of owning it, especially in size.
• Launched in 2025, so the record is short. And concentration cuts both ways: with 20 to 30 non-diversified positions, one holding can swing the whole fund.etfarchitect.com

• DFAC Actively managed, so there's no published index to check it against. Holdings and tilts shift at the managers' discretion.
• Dimensional's own DFAU runs a US core equity mandate for 0.12%, a slightly lighter fee for a similar shelf.
• All stocks, all US: the mandate is capital appreciation from equities, so it takes the market's full swings, and cash arrives quarterly.

Full CCFE profile⁠

Full DFAC profile⁠