DFAC vs TOS

DFACADimensional US Core Equity 2 ETF

TOSCTwin Oak Strategic Solutions ETF

In short

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.

TOS Twin Oak's go-anywhere US stock fund: one active mandate that roams from mega caps to small caps, holds shares or whole ETFs, and can reach for derivatives. Launched January 2026 at 0.36% net of a waiver through December 31, 2026, under the typical active US equity fee.

Stated mandate

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

TOS The Fund seeks total return through active management of domestic equity securities across all market capitalizations.

Why people hold it

• 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.

• TOS 0.36% net of a waiver through December 31, 2026 undercuts the typical active US equity fee, though cheaper index-style peers exist, like DFAU (0.12%) and AVLC (0.15%).
• Wide mandate: US stocks of any size, held directly or through other ETFs (including Twin Oak's own), with derivatives permitted.twinoaketfs.com
• Total return is the stated goal, not a yield target or a single market-cap lane.twinoaketfs.com

Worth knowing

• 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.

• TOS The 0.36% is net of a waiver through December 31, 2026; gross is 0.76%, so the sticker price depends on that waiver staying in place.
• Thinly traded with a modest asset base, so spreads and order size matter more here than in the category's heavyweights.
• Launched January 2026, so the record is short, and the flexible toolkit (other ETFs, derivatives, affiliated funds) makes the holdings harder to eyeball than an index fund's.twinoaketfs.com

Full DFAC profile⁠

Full TOS profile⁠