DFAC vs USFE

DFACADimensional US Core Equity 2 ETF

USFECFirst Eagle US Equity 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.

USFE First Eagle built its name buying resilient businesses only at a discount to what they are worth. USFE puts that margin-of-safety discipline on US stocks, priced below most active rivals.

Stated mandate

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

USFE The Fund seeks long-term growth of capital.

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.

• USFE Costs 0.45% a year, well under the 0.65% median for active US equity funds in its peer group. Cheap freight for a stockpicker.
• Runs First Eagle's signature playbook: resilient companies with strong balance sheets and prudent management, bought only at a "margin of safety" to estimated intrinsic value.firsteagle.com
• A fully active, transparent 1940 Act fund whose stated goal is long-term growth of capital, extending an ETF lineup the firm started in late 2024.firsteagle.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.

• USFE Launched in 2026, still small and thinly traded. Little live history to judge, and spreads can run wider than on a big index fund.
• The 0.45% is net of a contractual expense cap; the stated management fee is 0.79%. Check the current prospectus for how long the waiver runs.sec.govsec.gov 2
• Broad rivals like DFAU (0.12%) and AVLC (0.15%) cost a third as much. Here you pay for stockpicking and a value tilt that moves differently from the market.

Full DFAC profile⁠

Full USFE profile⁠