CPAI vs DFAC: Grades, Fees and Holdings Compared

Counterpoint Quantitative Equity ETF

CPAICNYSE

Dimensional US Core Equity 2 ETF

DFACANYSE Arca

Overlap

4.8%by weight

Expense ratio

DFAC −0.58pt a year

CPAI0.75%DFAC0.17%

Avg volume · 30D

DFAC 28.9×the volume

CPAI69.2KDFAC2M

CPAI vs DFAC Performance

Oct 31, 2025 – Oct 30, 2026

+35.0%CPAI+16.1%DFAC

Expense ratio: CPAI 0.75%; DFAC 0.17%, better
Fund size: CPAI $546M; DFAC $87.7B
1Y total return: CPAI +35.0%, better; DFAC +16.1%
Yield (12M): CPAI 0.68%; DFAC 0.88%, better
Holdings: CPAI 52; DFAC 2553
Avg volume (30D): CPAI 69.2K sh; DFAC 2M sh, better
NAV per share: CPAI $53.67; DFAC $44.87
52W range

ETF.net Grade

Pillar letters and Scores for CPAI, DFAC, with each pillar’s weight
Pillar	CPAI	DFAC
Cost30% weight	D36	A94Higher
Mission25% weight	B65	A100Higher
Risk15% weight	C44	B66Higher
Tradability15% weight	C52	A87Higher
Holdings10% weight	A83	A87Higher
Durability5% weight	B69	A97Higher

Rank among US Active Equity funds

How we build Categories ›

Same Category. CPAI and DFAC are both graded against the same 121 US Active Equity funds, so their Grades compare head to head.

US Active Equity⁠

Category · 121 funds

See all 121 ›

DFAC ranks 3rd and CPAI 63rd of 121 funds in the US Active Equity Category.

Rank 1AAVLCAvantis U.S. Large Cap Equity ETFScore 87
Rank 2ADFAUDimensional US Core Equity Market ETFScore 86
Rank 3ADFACDimensional US Core Equity 2 ETFScore 85
Rank 4ADYNFiShares U.S. Equity Factor Rotation Active ETFScore 83
Rank 61CPRAYFIS Christian Stock FundScore 50
Rank 63CCPAICounterpoint Quantitative Equity ETFScore 49
Rank 63CSSUSStrategy Shares Day Hagan Smart Sector ETFScore 49

Our read on each fund

ETF.net Research

CPAICCounterpoint Quantitative Equity ETF

DFACADimensional US Core Equity 2 ETF

In short

CPAI The AI here picks the stocks, it doesn't buy them. Counterpoint's machine-learning models rank US companies on 30-plus variables, then hold at least 50 of the top names equal-weighted, tilted toward small and mid caps.

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

CPAI The Fund seeks long-term capital appreciation.

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

Why people hold it

CPAI The models weigh more than 30 inputs spanning value, long-term reversal, momentum, profitability, investor sentiment and price stability, and retrain at each quarterly rebalance.sec.gov counterpointfunds.com
Equal weighting, a floor of 50 holdings, and a target of no more than 35% in any one sector stop a single stock or hot sector from running the portfolio.counterpointfunds.com
A small and mid cap tilt sets it apart in a peer group crowded with large-cap core products like DFAU, FELC and AVLC.counterpointfunds.com

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

CPAI At 0.75% a year it costs more than the typical active US equity ETF, and far more than cheap core rivals such as DFAU (0.12%) and FELC (0.18%).
Holdings come from proprietary models refined through backtesting, so you can't check any position against a published rulebook the way you can with an index fund.sec.gov
Launched in 2023, so the live record is short, and an equal-weighted small and mid cap book can behave very differently from a large-cap benchmark.counterpointfunds.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 CPAI profile⁠

Full DFAC profile⁠

CPAI vs DFAC Holdings

How CPAI and DFAC differ

Overlap by weight

4.8%

Shared holdings make up 92.2% of CPAI and 4.8% of DFAC.

Level by level

Holdings46 in both4.8%
Sector11 Sectors73.0%
Countryby domicile96.2%
Asset classEquity100%

Sector

Sector weights in CPAI and DFAC, widest gap first
Sector	More in CPAIMore in DFAC	CPAI	DFAC
Energy	CPAI +13.2 points	19.2%	6.0%
Financials	DFAC +12.0 points	4.0%	16.0%
Industrials	DFAC +10.6 points	2.0%	12.6%
Technology	CPAI +5.9 points	36.3%	30.4%
Health Care	CPAI +5.0 points	14.1%	9.1%
Consumer Staples	CPAI +2.5 points	7.5%	5.0%
Utilities	DFAC +1.8 points	0.0%	1.8%
Communication	DFAC +1.2 points	5.8%	7.0%
Materials	DFAC +1.1 points	1.8%	2.9%
Consumer Discretionary	CPAI +0.4 points	9.4%	9.0%
Real Estate	DFAC +0.3 points	0.0%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in CPAI and DFAC, widest gap first
Country	More in CPAIMore in DFAC	CPAI	DFAC
United States	DFAC +2.7 points	96.2%	98.9%
Canada	CPAI +2.2 points	2.2%	0.0%
Israel	CPAI +1.6 points	1.6%	0.0%
Other countries (12)	DFAC +1.0 points	0.0%	1.0%

Concentration

Weight in the 10 largest Holdings

CPAI23.7%
DFAC26.4%

Securities held

CPAI51
DFAC2,550

Asset class

CPAI: Equity
DFAC: Equity

Holdings

Only in CPAI5
In both46
Only in DFAC2,504

Only in CPAI

5 securities, 7.8% of CPAI by weight

BlackBerry Ltd.2.22%
Simply Good Foods Company (The)2.06%
Sunoco, L.P.1.78%
Mobileye Global, Inc.1.56%
Bbh Sweep Vehicle0.15%

Only in DFAC

2,504 securities, 94.9% of DFAC by weight

Apple Inc Common Stock USD.000015.78%
NVIDIA Corp Common Stock USD.0015.42%
Microsoft Corp Common Stock USD.000006254.79%
Amazon.com Inc Common Stock USD.012.44%
Meta Platforms Inc Class A Common Stock USD.0000061.89%
Alphabet Inc Class A Common Stock USD.0011.35%
Eli Lilly & Co Common Stock1.25%
Broadcom Inc Common Stock1.19%
JPMorgan Chase & Co Common Stock USD1.01.13%
Exxonmobil Holdings Corp Common Stock0.93%
Alphabet Inc Class C Common Stock USD.0010.91%
Johnson & Johnson Common Stock USD1.00.89%
Visa Inc Class A Shares Common Stock USD.00010.79%
Berkshire Hathaway Inc Class B Common Stock USD.00330.79%
Chevron Corp Common Stock USD.750.70%
Mastercard Inc A Common Stock USD.00010.67%
Cisco Systems Inc Common Stock USD.0010.55%
Procter & Gamble Co/The Common Stock0.53%
Walmart Inc Common Stock USD.10.52%
AbbVie Inc Common Stock USD.010.46%
Coca Cola Co/The Common Stock USD.250.45%
Merck & Co. Inc. Common Stock USD.50.43%
Caterpillar Inc Common Stock USD1.00.42%
Home Depot Inc Common Stock USD.050.39%
Conocophillips Common Stock USD.010.37%
Amgen Inc Common Stock USD.00010.37%
Goldman Sachs Group Inc Common Stock USD.010.35%
Texas Instruments Inc Common Stock USD1.00.35%
Bank of America Corp Common Stock USD.010.34%
Intl Business Machines Corp Common Stock USD.20.34%
Wells Fargo & Co Common Stock USD1.6660.33%
Qualcomm Inc Common Stock USD.00010.33%
Costco Wholesale Corp Common Stock USD.0050.33%
General Electric Common Stock USD.010.31%
UnitedHealth Group Inc Common Stock USD.010.30%
Gilead Sciences Inc Common Stock USD.0010.30%
Rtx Corp Common Stock USD1.00.29%
Union Pacific Corp Common Stock USD2.50.27%
Oracle Corp Common Stock USD.010.26%
Pepsico Inc Common Stock USD.0170.26%
American Express Co Common Stock USD.20.26%
Morgan Stanley Common Stock USD.010.26%
Tesla Inc Common Stock USD.0010.25%
Deere & Co Common Stock USD1.00.25%
Travelers Cos Inc/The Common Stock0.25%
Linde PLC Common Stock0.25%
Kla Corp Common Stock USD.0010.25%
Verizon Communications Inc Common Stock USD.10.24%
Csx Corp Common Stock USD1.00.24%
Citigroup Inc Common Stock USD.010.23%

Weight gaps

All 46 Holdings in both funds, largest gap first.

Holding weights in CPAI and DFAC, widest gap first
Holding	More in CPAIMore in DFAC	CPAI	DFAC
Teladoc Health, Inc.TDOC	CPAI +2.72 points	2.73%	<0.01%
Everpure, Inc.P	CPAI +2.49 points	2.53%	0.04%
Box, Inc.BOX	CPAI +2.47 points	2.49%	0.02%
Etsy, Inc.ETSY	CPAI +2.43 points	2.45%	0.02%
Transocean Ltd.RIG	CPAI +2.27 points	2.30%	0.03%
Antero Resources CorporationAR	CPAI +2.24 points	2.29%	0.05%
Cleveland-Cliffs, Inc.CLF	CPAI +2.19 points	2.22%	0.03%
Dollar Tree, Inc.DLTR	CPAI +2.16 points	2.26%	0.10%
Northern Oil & Gas, Inc.NOG	CPAI +2.15 points	2.16%	0.01%
HubSpot, Inc.HUBS	CPAI +2.15 points	2.15%	<0.01%
McKesson CorporationMCK	CPAI +2.14 points	2.18%	0.04%
Cardinal Health, Inc.CAH	CPAI +2.09 points	2.17%	0.08%
GoDaddy, Inc.GDDY	CPAI +2.08 points	2.10%	0.02%
ON Semiconductor CorporationON	CPAI +2.05 points	2.11%	0.06%
10X Genomics, Inc.TXG	CPAI +2.06 points	2.09%	0.03%
Everest Group Ltd.EG	CPAI +2.02 points	2.07%	0.05%
Talos Energy, Inc.TALO	CPAI +2.02 points	2.04%	0.02%
PayPal Holdings, Inc.PYPL	CPAI +2.02 points	2.11%	0.09%
World Kinect CorporationWKC	CPAI +2.02 points	2.03%	0.01%
Centene CorporationCNC	CPAI +1.98 points	2.03%	0.05%
DaVita, Inc.DVA	CPAI +1.98 points	2.04%	0.06%
Motorola Solutions, Inc.MSI	CPAI +1.95 points	2.09%	0.14%
BellRing Brands, Inc.BRBR	CPAI +1.95 points	1.95%	<0.01%
Occidental Petroleum CorporationOXY	CPAI +1.93 points	2.08%	0.15%
Tenet Healthcare CorporationTHC	CPAI +1.92 points	2.01%	0.09%
Fox CorporationFOXA	CPAI +1.88 points	1.93%	0.05%
Kulicke & Soffa Industries, Inc.KLIC	CPAI +1.87 points	1.89%	0.02%
Astera Labs, Inc.ALAB	CPAI +1.87 points	1.89%	0.02%
PBF Energy, Inc.PBF	CPAI +1.87 points	1.91%	0.04%
Yelp, Inc.YELP	CPAI +1.87 points	1.87%	<0.01%
Penn Entertainment, Inc.PENN	CPAI +1.80 points	1.80%	<0.01%
General Motors CompanyGM	CPAI +1.80 points	2.03%	0.23%
HF Sinclair CorporationDINO	CPAI +1.79 points	1.88%	0.09%
Conagra Brands, Inc.CAG	CPAI +1.79 points	1.81%	0.02%
HP, Inc.HPQ	CPAI +1.78 points	1.82%	0.04%
Marathon Petroleum CorporationMPC	CPAI +1.74 points	1.98%	0.24%
Ford Motor CompanyF	CPAI +1.72 points	1.84%	0.12%
Hewlett Packard Enterprise CompanyHPE	CPAI +1.70 points	1.91%	0.21%
Marvell Technology, Inc.MRVL	CPAI +1.60 points	1.77%	0.17%
Dell Technologies, Inc.DELL	CPAI +1.49 points	1.61%	0.12%
AT&T, Inc.T	CPAI +1.41 points	1.60%	0.19%
Intel CorporationINTC	CPAI +1.41 points	1.66%	0.25%
JetBlue Airways CorporationJBLU	CPAI +1.34 points	1.35%	<0.01%
Western Digital CorporationWDC	CPAI +1.33 points	1.75%	0.42%
Sandisk CorpSNDK	CPAI +1.28 points	1.49%	0.21%
Micron Technology, Inc.MU	CPAI +0.65 points	1.79%	1.14%

All 50 CPAI holdings⁠All 2,598 DFAC holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CPAI vs DFAC Cost

Overpaying CPAI vs DFAC

$10,936

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CPAI 0.75%
$14,482
DFAC 0.17%
$3,546

Amount$10,000

Years30 years

Cost over time

CPAI 0.75%
DFAC 0.17%
Overpaying

Year by year

Year	CPAI	DFAC	Overpaying
10	$1,336	$310	$1,026
20	$5,078	$1,211	$3,867
30	$14,482	$3,546	$10,936

Expense ratio

0.75%CPAI
0.17%DFAC, cheaper

DFAC0.17%CPAI0.75%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

DFAC 8th cheapest of 121 funds

CPAI 72nd cheapest of 121 funds

CPAI vs DFAC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CPAI 0.68%; DFAC 0.88%, better
Payout (12M): CPAI $0.36; DFAC $0.39
Last payment: CPAI $0.36; DFAC $0.10
Ex-dividend: CPAI Dec 12, 2025; DFAC Sep 22, 2026
Paid on: CPAI Dec 17, 2025; DFAC Sep 24, 2026
Frequency: CPAI Annual; DFAC Quarterly

Distribution history

Per share, 2021 to 2026, same scale for both

CPAIAnnual · 3 paymentsAll CPAI payments⁠

DFACQuarterly · 22 paymentsAll DFAC payments⁠

CPAI vs DFAC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CPAI 16.6%since Dec 2023DFAC 12.6%
Return per unit of riskSharpe ratio, 3 years: CPAI 1.38since Dec 2023DFAC 1.32
Worst fallMax drawdown, 5 years: CPAI −21.5%since Nov 2023DFAC −23.1%
Market sensitivityBeta, 5 years: CPAI 1.08DFAC 0.99; Market = 1

CPAI and DFAC in the news

All news⁠

Head-to-Head
ITOT is the better U.S. stock fund than DFAC
Oct 26, 2026DFAC

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CPAI vs DFAC

In short

Stated mandate

Why people hold it

Worth knowing

How CPAI and DFAC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CPAI

Only in DFAC

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

ITOT is the better U.S. stock fund than DFAC

How CPAI and DFAC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CPAI

Only in DFAC

Weight gaps