DFAI vs FDEV: Grades, Fees and Holdings Compared

Dimensional International Core Equity Market ETF

DFAIANYSE Arca

Fidelity International Multifactor ETF

FDEVACboe

Overlap

21.3%by weight

Expense ratio

DFAI0.18%FDEV0.18%

Avg volume · 30D

DFAI 62.0×the volume

DFAI1.81MFDEV29.3K

5Y return · a year

DFAI +1.8pt

DFAI+9.6%FDEV+7.8%

DFAI vs FDEV Performance

Oct 29, 2021 – Oct 30, 2026

+58.2%DFAI+45.8%FDEV

Expense ratio: DFAI 0.18%; FDEV 0.18%
Fund size: DFAI $18.2B; FDEV $276M
1Y total return: DFAI +15.9%; FDEV +16.6%, better
Yield (12M): DFAI 2.44%; FDEV 3.27%, better
Holdings: DFAI 3767; FDEV 210
Avg volume (30D): DFAI 1.81M sh, better; FDEV 29.3K sh
NAV per share: DFAI $41.47; FDEV $37.31
52W range

ETF.net Grade

Pillar letters and Scores for DFAI, FDEV, with each pillar’s weight
Pillar	DFAI	FDEV
Cost30% weight	A91	A91
Mission25% weight	B63	Not scored
Risk15% weight	C49	A78Higher
Tradability15% weight	A81Higher	B59
Holdings10% weight	A80Higher	C48
Durability5% weight	A71Higher	C42

Rank among International Multifactor funds

How we build Categories ›

Same Category. DFAI and FDEV are both graded against the same 30 International Multifactor funds, so their Grades compare head to head.

International Multifactor⁠

Category · 30 funds

See all 30 ›

DFAI ranks 2nd and FDEV 4th of 30 funds in the International Multifactor Category.

Rank 1AINTFiShares International Equity Factor ETFScore 79
Rank 2ADFAIDimensional International Core Equity Market ETFScore 77
Rank 3AGSWOGoldman Sachs ActiveBeta World Equity ETFScore 76
Rank 4AFDEVFidelity International Multifactor ETFScore 73
Rank 5ARODMHartford Multifactor Developed Markets (ex-US) ETFScore 71

Our read on each fund

ETF.net Research

DFAIADimensional International Core Equity Market ETF

FDEVAFidelity International Multifactor ETF

In short

DFAI Dimensional's take on developed markets outside the US: several thousand stocks, plus deliberate leans toward cheaper and more profitable companies. Index-fund breadth with a research desk setting the weights, priced above the plain vanilla crowd.

FDEV Four factors (value, quality, momentum, low volatility) blended into one developed-markets index fund at 0.18% a year. Fidelity's answer to paying up for a single-factor tilt overseas.

Stated mandate

DFAI The fund seeks long-term capital appreciation through an integrated approach combining research, portfolio design, portfolio management, and trading.

FDEV The fund seeks returns generally corresponding to the Fidelity International Multifactor Index before fees and expenses.

Why people hold it

DFAI Holds several thousand developed-market stocks outside the US, so no single name, sector or country steers the fund.
The tilts are in the mandate, not the marketing: it leans toward cheaper stocks and more profitable companies while still owning the broad market.
Portfolio construction is one of the stronger builds in its peer group, and the fund is a multi-billion-dollar, actively traded name that pays quarterly.

FDEV 0.18% a year, less than half the typical fee in its international multifactor group, and within a rounding error of the cheapest name there (INTF at 0.16%).
One index does the work of four screens: value, quality, momentum and low volatility applied together, instead of you stacking separate single-factor funds.
Roughly 220 developed-market stocks outside the US, picked by published index rules rather than a manager's hunches, with cash paid out quarterly.
Sits in the top quartile of a 29-fund international factor cohort, which is a crowded field full of far pricier attempts at the same job.

Worth knowing

DFAI At 0.18% it costs many times what plain cap-weighted rivals like VEA, SPDW and SCHF charge. The tilts are what the extra buys.
MSCI World ex USA IMI is the yardstick, not a leash. Dimensional builds the portfolio its own way, so it can look and behave differently from that index.
Launched in late 2020, so its live record is shorter than the index giants', and on the whole package it lands in the lower half of its developed-core cohort.

FDEV Thinly traded. Spreads can quietly cost more than the fee, so limit orders matter more here than with the category's household names.
A 2019 launch still in the mid-size asset range, so there is no decades-long record to lean on the way older international index funds offer.
Blending four factors means none of them drives the bus. When value or momentum alone runs hot, this owns only a slice of that move.

Full DFAI profile⁠

Full FDEV profile⁠

DFAI vs FDEV Holdings

How DFAI and FDEV differ

Overlap by weight

21.3%

Shared holdings make up 96.2% of FDEV and 21.4% of DFAI.

Level by level

Holdings185 in both21.3%
Sector11 Sectors78.8%
Countryby domicile83.9%
Asset classEquity100%

Sector

Sector weights in DFAI and FDEV, widest gap first
Sector	More in DFAIMore in FDEV	DFAI	FDEV
Real Estate	FDEV +5.2 points	1.2%	6.4%
Materials	DFAI +5.2 points	8.9%	3.7%
Communication	FDEV +4.9 points	3.6%	8.5%
Health Care	FDEV +4.6 points	8.7%	13.3%
Energy	FDEV +4.4 points	7.1%	11.5%
Technology	DFAI +4.3 points	10.5%	6.2%
Consumer Discretionary	DFAI +4.2 points	7.7%	3.5%
Utilities	DFAI +3.7 points	3.7%	0.0%
Industrials	DFAI +3.2 points	17.7%	14.5%
Consumer Staples	FDEV +2.1 points	6.2%	8.3%
Financials	DFAI +0.6 points	24.6%	24.0%

Country, concentration and asset class

Country by domicile

Country weights in DFAI and FDEV, widest gap first
Country	More in DFAIMore in FDEV	DFAI	FDEV
United Kingdom	FDEV +3.8 points	11.7%	15.5%
Germany	DFAI +3.6 points	7.2%	3.6%
Switzerland	DFAI +3.6 points	8.6%	5.0%
Canada	FDEV +3.5 points	11.4%	14.9%
Australia	DFAI +2.9 points	6.0%	3.1%
Japan	DFAI +1.9 points	24.3%	22.4%
Norway	FDEV +1.8 points	0.9%	2.7%
Belgium	FDEV +1.6 points	0.9%	2.5%
Other countries (19)	FDEV +1.3 points	29.1%	30.4%

Outside the US: DFAI 99% developed, 1% emerging. FDEV 97% developed, 3% emerging.

Concentration

Weight in the 10 largest Holdings

DFAI9.8%
FDEV15.6%

Securities held

DFAI3,749
FDEV198

Asset class

DFAI: Equity
FDEV: Equity

Holdings

Only in DFAI3,564
In both185
Only in FDEV13

Only in DFAI

3,564 securities, 78.3% of DFAI by weight

Asml Holding NV1.90%
Nestle SA0.87%
Mitsubishi Ufj Financial0.76%
Novartis AG Adr0.70%
Toyota Motor Corp0.63%
Advantest Corp0.62%
Allianz SE0.61%
Recruit Holdings Co Ltd0.59%
Sap SE0.57%
Bp PLC0.57%
Sony Group Corp0.57%
Siemens AG0.56%
Toronto-Dominion Bank0.53%
Commonwealth Bank of Aust0.51%
Tokyo Electron Ltd0.51%
Rolls-Royce Holdings PLC0.48%
Hitachi Ltd0.45%
Deutsche Telekom AG0.41%
Schneider Electric SE0.40%
Unicredit Spa0.40%
Canadian Natural Resource0.40%
Sumitomo Mitsui Financial0.38%
Iberdrola SA0.38%
Dbs Group Holdings Ltd0.38%
Suncor Energy Inc.0.37%
Safran SA0.36%
Tokio Marine Holdings Inc0.36%
Zurich Insurance Group AG0.36%
Siemens Energy AG0.36%
Mizuho Financial Group In0.36%
Air Liquide SA0.35%
Bank of Nova Scotia/The0.35%
Airbus SE0.34%
Abb Ltd0.34%
British American Tobacco0.34%
Barclays PLC0.33%
Royal Bank of Canada0.31%
Fujikura Ltd0.30%
Intesa Sanpaolo Spa0.30%
Aia Group Ltd0.30%
Enel Spa0.30%
L'oreal SA0.29%
Cie Financiere Richemont0.29%
National Australia Bank L0.29%
Muenchener Rueckversicher0.28%
Ing Groep NV0.28%
Enbridge Inc0.28%
Westpac Banking Corp0.28%
Bayer AG0.28%
Fast Retailing Co Ltd0.27%

Only in FDEV

13 securities, 3.4% of FDEV by weight

Klepierre SA1.54%
Industrivarden Ab Ser A0.34%
Balfour Beatty PLC0.30%
Power Corp of Canada Sub Vtg0.28%
Securities Lending Cf0.25%
Jardine Matheson Hld (Sg)0.22%
Igm Financial Inc0.16%
Oceanagold Cor0.15%
Nice Ltd0.14%
Ust Bills 0% 11/12/260.02%
European Monetary Unit (Euro)<0.01%
Israel Sheckel<0.01%
Danish Kronen<0.01%

Weight gaps

The 100 widest of 185 Holdings in both funds.

Holding weights in DFAI and FDEV, widest gap first
Holding	More in DFAIMore in FDEV	DFAI	FDEV
Daito Trust Construction	FDEV +1.66 points	0.03%	1.69%
Hongkong Land Holdings Lt	FDEV +1.59 points	0.04%	1.63%
Canadian Natural Resource	FDEV +1.27 points	0.05%	1.32%
Firstservice Corp	FDEV +1.27 points	<0.01%	1.27%
Suncor Energy Inc	FDEV +1.22 points	0.06%	1.28%
Novartis AG	FDEV +1.22 points	0.28%	1.50%
Nexon Co Ltd	FDEV +1.12 points	0.02%	1.14%
Asml Holding NV	FDEV +1.09 points	0.41%	1.50%
Loblaw Cos Ltd	FDEV +1.07 points	0.10%	1.17%
Ly Corp	FDEV +1.03 points	0.04%	1.07%
Rightmove PLCRMV.L	FDEV +1.01 points	0.02%	1.03%
Autotrader Group PLCAUTO.L	FDEV +0.96 points	0.02%	0.98%
Cenovus Energy Inc	FDEV +0.93 points	0.08%	1.01%
Kddi Corp	FDEV +0.92 points	0.20%	1.12%
Inpex Corp	FDEV +0.92 points	0.11%	1.03%
Koninklijke Kpn NV	FDEV +0.91 points	0.11%	1.02%
Whitecap Resources Inc	FDEV +0.90 points	0.07%	0.97%
Vodafone Group PLCVOD.L	FDEV +0.88 points	0.14%	1.02%
Quebecor Inc	FDEV +0.88 points	0.03%	0.91%
Unilever PLCULVR.L	FDEV +0.87 points	0.39%	1.26%
Shionogi & Co Ltd	FDEV +0.87 points	0.06%	0.93%
Japan Tobacco Inc	FDEV +0.86 points	0.16%	1.02%
Anheuser-Busch Inbev Sa/N	FDEV +0.85 points	0.24%	1.09%
Orkla Asa	FDEV +0.83 points	0.02%	0.85%
Toyo Suisan Kaisha Ltd	FDEV +0.81 points	0.03%	0.84%
Carlsberg As	FDEV +0.80 points	0.06%	0.86%
Essity Ab	FDEV +0.80 points	0.07%	0.87%
Ono Pharmaceutical Co Ltd	FDEV +0.79 points	0.02%	0.81%
Koninklijke Ahold Delhaiz	FDEV +0.79 points	0.13%	0.92%
Var Energi Asa	FDEV +0.77 points	0.02%	0.79%
Imperial Brands PLCIMB.L	FDEV +0.76 points	0.13%	0.89%
Reckitt Benckiser Group PRKT.L	FDEV +0.74 points	0.17%	0.91%
Equinor Asa	FDEV +0.74 points	0.13%	0.87%
Totalenergies SE	FDEV +0.69 points	0.69%	1.38%
Toronto-Dominion Bank/The	FDEV +0.68 points	0.15%	0.83%
Astrazeneca PLCAZN.L	FDEV +0.65 points	0.79%	1.44%
Fisher & Paykel Healthcar	FDEV +0.64 points	0.05%	0.69%
Repsol SA	FDEV +0.59 points	0.21%	0.80%
Gaztransport Et Technigaz	FDEV +0.56 points	0.03%	0.59%
Roche Holding AG	FDEV +0.56 points	1.19%	1.75%
Thomson Reuters Corp	FDEV +0.54 points	0.02%	0.56%
Shell PLCSHEL.L	FDEV +0.54 points	1.29%	1.83%
Novo Nordisk A/S	FDEV +0.54 points	0.27%	0.81%
Orion Oyj	FDEV +0.47 points	0.06%	0.53%
Sanofi	FDEV +0.48 points	0.27%	0.75%
Ucb SA	FDEV +0.47 points	0.17%	0.64%
Wolters Kluwer NV	FDEV +0.45 points	0.03%	0.48%
Finning International Inc	FDEV +0.44 points	0.04%	0.49%
Swedish Orphan Biovitrum	FDEV +0.44 points	0.04%	0.48%
Merck Kgaa	FDEV +0.44 points	0.06%	0.50%
Itochu Corp	FDEV +0.43 points	0.22%	0.65%
Smith & Nephew PLCSN.L	FDEV +0.43 points	0.04%	0.47%
Royal Bank of Canada	FDEV +0.41 points	0.64%	1.05%
Banco Santander SA	FDEV +0.40 points	0.39%	0.79%
Fresenius Medical Care AG	FDEV +0.40 points	0.04%	0.44%
Cgi Inc	FDEV +0.39 points	<0.01%	0.40%
Mitsui & Co Ltd	FDEV +0.40 points	0.20%	0.60%
Gsk PLCGSK.L	FDEV +0.40 points	0.35%	0.75%
Challenger Ltd	FDEV +0.39 points	0.02%	0.41%
Oversea-Chinese Banking C	FDEV +0.39 points	0.23%	0.62%
Gea Group AG	FDEV +0.38 points	0.05%	0.43%
Ipsen SA	FDEV +0.38 points	0.03%	0.41%
77 Bank Ltd/The	FDEV +0.36 points	0.02%	0.38%
Daishi Hokuetsu Financial	FDEV +0.36 points	0.02%	0.38%
Nordex SE	FDEV +0.36 points	0.02%	0.38%
Haleon PLCHLN.L	FDEV +0.36 points	0.13%	0.49%
Kone Oyj	FDEV +0.35 points	0.08%	0.43%
Hirogin Holdings Inc	FDEV +0.35 points	0.02%	0.37%
MS&AD Insurance Group Hol	FDEV +0.35 points	0.17%	0.52%
Washington H Soul Pattins	FDEV +0.35 points	<0.01%	0.36%
Hachijuni Nagano Bank Ltd	FDEV +0.35 points	0.03%	0.38%
Sumitomo Corp	FDEV +0.34 points	0.12%	0.46%
Obic Co Ltd	FDEV +0.35 points	0.04%	0.39%
Macquarie Group Ltd	FDEV +0.35 points	0.16%	0.51%
Sumitomo Mitsui Trust	FDEV +0.34 points	0.11%	0.45%
Bper Banca	FDEV +0.34 points	0.09%	0.43%
Hokuhoku Financial Group	FDEV +0.33 points	0.03%	0.36%
Mebuki Financial Group In	FDEV +0.33 points	0.04%	0.37%
Boc Hong Kong Holdings Lt	FDEV +0.33 points	0.08%	0.41%
Daiwa Securities Group In	FDEV +0.32 points	0.07%	0.39%
Ackermans & Van Haaren NV	FDEV +0.33 points	0.03%	0.36%
Technology One Ltd	FDEV +0.32 points	0.03%	0.35%
Sgs SA	FDEV +0.32 points	0.10%	0.42%
Banco Bpm Spa	FDEV +0.32 points	0.07%	0.39%
Getlink SE	FDEV +0.31 points	0.02%	0.33%
Israel Discount Bank Ltd	FDEV +0.32 points	0.04%	0.36%
Knorr-Bremse AG	FDEV +0.32 points	0.03%	0.35%
Hannover Rueck SE	FDEV +0.31 points	0.10%	0.41%
Hochtief AG	FDEV +0.31 points	0.03%	0.34%
Sanwa Holdings Corp	FDEV +0.31 points	0.01%	0.32%
Medibank Pvt Ltd	FDEV +0.30 points	0.04%	0.34%
Talanx AG	FDEV +0.30 points	0.06%	0.36%
Relx PLCREL.L	FDEV +0.31 points	0.21%	0.52%
Geberit AG	FDEV +0.31 points	0.10%	0.41%
Tisi Inc	FDEV +0.30 points	0.03%	0.33%
Qbe Insurance Group Ltd	FDEV +0.30 points	0.13%	0.43%
Dai Nippon Printing Co Lt	FDEV +0.30 points	0.03%	0.33%
Sojitz Corp	FDEV +0.29 points	0.04%	0.33%
Raiffeisen Bank Internati	FDEV +0.30 points	<0.01%	0.30%
Mizrahi Tefahot Bank Ltd	FDEV +0.30 points	0.04%	0.34%

All 3,869 DFAI holdings⁠All 218 FDEV 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.

DFAI vs FDEV Cost

Same expense ratio

$3,749

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

DFAI 0.18%
$3,749
FDEV 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

DFAI 0.18%
FDEV 0.18%

Year by year

Year	DFAI	FDEV
10	$328	$328
20	$1,281	$1,281
30	$3,749	$3,749

Expense ratio

0.18%DFAI
0.18%FDEV

DFAI0.18%FDEV0.18%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

DFAI 3rd cheapest of 30 funds

FDEV 3rd cheapest of 30 funds

DFAI vs FDEV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFAI 2.44%; FDEV 3.27%, better
Payout (12M): DFAI $1.01; FDEV $1.22
Last payment: DFAI $0.18; FDEV $0.33
Ex-dividend: DFAI Sep 22, 2026; FDEV Sep 18, 2026
Paid on: DFAI Sep 24, 2026; FDEV Sep 22, 2026
Frequency: DFAI Quarterly; FDEV Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

DFAIQuarterly · 24 paymentsAll DFAI payments⁠

FDEVQuarterly · 31 paymentsAll FDEV payments⁠

DFAI vs FDEV Risk

Fall from peak · 5 years

DFAI
FDEV

Risk facts

VolatilityStd dev, 3 years: DFAI 11.6%FDEV 10.5%, better
Return per unit of riskSharpe ratio, 3 years: DFAI 1.33, betterFDEV 1.31
Worst fallMax drawdown, 5 years: DFAI −27.4%, betterFDEV −27.9%
Market sensitivityBeta, 5 years: DFAI 0.91FDEV 0.65; Market = 1

DFAI and FDEV in the news

All news⁠

New ETFs
Avantis Investors' Avantis U.S. Core Equity ETF AVUC overlaps a fund it already runs
Oct 16, 2026DFAI

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DFAI vs FDEV

In short

Stated mandate

Why people hold it

Worth knowing

How DFAI and FDEV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAI

Only in FDEV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Avantis Investors' Avantis U.S. Core Equity ETF AVUC overlaps a fund it already runs

How DFAI and FDEV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAI

Only in FDEV

Weight gaps