DFAI vs GSEU: Grades, Fees and Holdings Compared

Dimensional International Core Equity Market ETF

DFAIANYSE Arca

Goldman Sachs ActiveBeta Europe Equity ETF

GSEUCNYSE Arca

Overlap

37.5%by weight

Expense ratio

DFAI −0.07pt a year

DFAI0.18%GSEU0.25%

Avg volume · 30D

DFAI 94.6×the volume

DFAI1.81MGSEU19.2K

5Y return · a year

DFAI +1.4pt

DFAI+9.6%GSEU+8.2%

DFAI vs GSEU Performance

Oct 29, 2021 – Oct 30, 2026

+58.2%DFAI+48.3%GSEU

Expense ratio: DFAI 0.18%, better; GSEU 0.25%
Fund size: DFAI $18.2B; GSEU $171M
1Y total return: DFAI +15.9%, better; GSEU +13.3%
Yield (12M): DFAI 2.44%; GSEU 2.80%, better
Holdings: DFAI 3767; GSEU 343
Avg volume (30D): DFAI 1.81M sh, better; GSEU 19.2K sh
NAV per share: DFAI $41.47; GSEU $48.17
52W range

ETF.net Grade

Pillar letters and Scores for DFAI, GSEU, with each pillar’s weight
Pillar	DFAI	GSEU
Cost30% weight	A91Higher	A74
Mission25% weight	B63	Not scored
Risk15% weight	C49Higher	C44
Tradability15% weight	A81Higher	D29
Holdings10% weight	A80Higher	C47
Durability5% weight	A71Higher	B57

Rank among International Multifactor funds

How we build Categories ›

Same Category. DFAI and GSEU 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 GSEU 14th 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 12BQWLDState Street SPDR MSCI World StrategicFactors ETFScore 60
Rank 14CGSEUGoldman Sachs ActiveBeta Europe Equity ETFScore 54
Rank 14CQINTAmerican Century Quality Diversified International ETFScore 54

Our read on each fund

ETF.net Research

DFAIADimensional International Core Equity Market ETF

GSEUCGoldman Sachs ActiveBeta Europe Equity 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.

GSEU Goldman's four-factor ActiveBeta recipe (value, momentum, quality, low volatility) pointed at one continent instead of the whole world. Europe, about 400 names, 0.25% a year.

Stated mandate

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

GSEU The fund seeks to closely track, before fees and expenses, the Goldman Sachs ActiveBeta Europe Equity Index.

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.

GSEU Four tilts blended in one wrapper: good value, strong momentum, high quality, low volatility. No single-factor bet to time.
0.25% a year, below the typical fee among international multifactor funds.
Spreads exposure across roughly 400 European stocks, so no one name steers the portfolio.
Trading since 2016 and sitting in the upper half of its factor peer group, with a rules-based index doing the stock picking.

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.

GSEU Thinly traded compared with plain Europe index funds, so bid-ask spreads can add to the cost of getting in and out.
Europe only. The same ActiveBeta engine in GSIE casts a wider developed-market net, including Japan and Asia-Pacific.
Distributions arrive on an annual or semiannual schedule, not quarterly.

Full DFAI profile⁠

Full GSEU profile⁠

DFAI vs GSEU Holdings

How DFAI and GSEU differ

Overlap by weight

37.5%

Shared holdings make up 92.7% of GSEU and 39.5% of DFAI.

Level by level

Holdings301 in both37.5%
Countryby domicile54.1%
Sector11 Sectors90.7%
Asset classEquity100%

Sector

Sector weights in DFAI and GSEU, widest gap first
Sector	More in DFAIMore in GSEU	DFAI	GSEU
Health Care	GSEU +5.2 points	8.7%	13.9%
Materials	DFAI +4.1 points	8.9%	4.8%
Consumer Staples	GSEU +2.0 points	6.2%	8.2%
Energy	DFAI +1.8 points	7.1%	5.3%
Technology	DFAI +1.1 points	10.5%	9.4%
Financials	GSEU +1.0 points	24.6%	25.6%
Communication	DFAI +0.9 points	3.6%	2.7%
Consumer Discretionary	DFAI +0.7 points	7.7%	7.0%
Real Estate	DFAI +0.6 points	1.2%	0.6%
Utilities	GSEU +0.6 points	3.7%	4.3%
Industrials	GSEU +0.4 points	17.7%	18.1%

Country, concentration and asset class

Country by domicile

Country weights in DFAI and GSEU, widest gap first
Country	More in DFAIMore in GSEU	DFAI	GSEU
Japan	DFAI +24.3 points	24.3%	0.0%
Canada	DFAI +11.4 points	11.4%	0.0%
United Kingdom	GSEU +9.1 points	11.7%	20.8%
Switzerland	GSEU +6.8 points	8.6%	15.4%
Germany	GSEU +6.5 points	7.2%	13.7%
France	GSEU +6.1 points	6.4%	12.5%
Australia	DFAI +6.0 points	6.0%	0.0%
Netherlands	GSEU +4.9 points	4.8%	9.7%
Other countries (19)	GSEU +8.2 points	19.6%	27.8%

Outside the US: DFAI 99% developed, 1% emerging. GSEU 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

DFAI9.8%
GSEU18.7%

Securities held

DFAI3,749
GSEU337

Asset class

DFAI: Equity
GSEU: Equity

Holdings

Only in DFAI3,448
In both301
Only in GSEU36

Only in DFAI

3,448 securities, 60.2% of DFAI by weight

Asml Holding NV1.90%
Mitsubishi Ufj Financial0.76%
Novartis AG Adr0.70%
Royal Bank of Canada0.64%
Toyota Motor Corp0.63%
Advantest Corp0.62%
Recruit Holdings Co Ltd0.59%
Bhp Group Ltd0.58%
Sony Group Corp0.57%
Toronto-Dominion Bank0.53%
Commonwealth Bank of Aust0.51%
Tokyo Electron Ltd0.51%
Hitachi Ltd0.45%
Canadian Natural Resource0.40%
Sumitomo Mitsui Financial0.38%
Dbs Group Holdings Ltd0.38%
Suncor Energy Inc.0.37%
Tokio Marine Holdings Inc0.36%
Mizuho Financial Group In0.36%
Bank of Nova Scotia/The0.35%
Royal Bank of Canada0.31%
Fujikura Ltd0.30%
Aia Group Ltd0.30%
National Australia Bank L0.29%
Enbridge Inc0.28%
Westpac Banking Corp0.28%
Fast Retailing Co Ltd0.27%
Anz Group Holdings0.26%
Agnico Eagle Mines Ltd0.26%
Bank of Montreal0.26%
Banco Bilbao Vizcaya Arge0.26%
Kioxia Holdings Corp0.25%
Compass Group PLC0.24%
Mitsubishi Corp0.24%
Tesco PLC0.23%
Oversea-Chinese Banking C0.23%
Shopify Inc0.23%
Shopify Inc- Class A0.23%
Itochu Corp0.22%
Takeda Pharmaceutical Co0.22%
Ubs Group AG0.22%
Glencore PLC0.21%
Canadian Imperial Bank of0.21%
Barrick Mining Corp0.21%
Mitsui & Co Ltd0.20%
Hoya Corp0.20%
Kddi Corp0.20%
Wesfarmers Ltd0.20%
Murata Manufacturing Co L0.20%
National Bank of Canada0.20%

Only in GSEU

36 securities, 7.2% of GSEU by weight

Eurx/Msci Europeidx 12/20260.50%
M&G PLC0.44%
Heineken Holding N.v.0.43%
Cvc Capital Partners PLC0.43%
Investor Aktiebolag0.40%
Glencore PLC0.33%
Tesco PLC0.32%
Argenx SE0.32%
Jeronimo Martins Estab0.31%
Industrivarden Ab-Ser 'c' Fria0.30%
Recordati S.p.a.0.29%
Industrivarden Ab A Fria0.28%
Groupe Bruxelles Lambert NV0.25%
International Consolidated Airlines Group SA0.22%
Helvetia Baloise Holding AG0.21%
Spotify Technology S.a.0.21%
Lundbergforetagen Ab Ser 'b'0.21%
Ferrovial NV0.17%
Coca-Cola Hbc AG0.15%
3I Group PLC0.14%
Arcelormittal0.14%
Tenaris S.a.0.13%
Intercontinental Hotels Group PLC0.12%
Millicom Intl Cellular S.a.0.12%
Gecina SA0.10%
Klepierre SA Shs0.10%
Unibail-Rodamco-Westfield SE0.09%
Delivery Hero SE0.08%
Sofina (Ord Bearer Shs)0.07%
Land Securities Group PLC0.07%
Abivax SA0.05%
Exor N.v.0.05%
Covivio0.04%
Compass Group PLC0.03%
Dassault Systemes0.03%
Segro Public Limited Company0.02%

Weight gaps

The 100 widest of 301 Holdings in both funds.

Holding weights in DFAI and GSEU, widest gap first
Holding	More in DFAIMore in GSEU	DFAI	GSEU
Asml Holding NV	GSEU +3.92 points	0.41%	4.33%
Novartis AG	GSEU +1.71 points	0.28%	1.99%
Roche Holding AG	GSEU +1.06 points	1.19%	2.25%
Hsbc Holdings PLCHSBA.L	GSEU +0.86 points	0.96%	1.82%
Astrazeneca PLCAZN.L	GSEU +0.84 points	0.79%	1.63%
Banco Santander SA	GSEU +0.83 points	0.39%	1.22%
Kingfisher PLCKGF.L	GSEU +0.69 points	0.04%	0.73%
Sap SE	GSEU +0.69 points	0.57%	1.26%
Siemens AG	GSEU +0.66 points	0.56%	1.22%
Banco Bilbao Vizcaya Arge	GSEU +0.66 points	0.23%	0.89%
Koninklijke Ahold Delhaiz	GSEU +0.62 points	0.13%	0.75%
Zalando SE	GSEU +0.57 points	0.02%	0.59%
Deutsche Bank AG	GSEU +0.55 points	0.06%	0.61%
Iberdrola SA	GSEU +0.54 points	0.38%	0.92%
Sgs SA	GSEU +0.54 points	0.10%	0.64%
Orion Oyj	GSEU +0.52 points	0.06%	0.58%
Allianz SE	GSEU +0.52 points	0.61%	1.13%
Bouygues SA	GSEU +0.50 points	0.07%	0.57%
Novo Nordisk A/S	GSEU +0.49 points	0.27%	0.76%
Dhl AG	GSEU +0.49 points	0.24%	0.73%
Rational AG	GSEU +0.49 points	0.01%	0.50%
Shell PLCSHEL.L	GSEU +0.48 points	1.29%	1.77%
Ubs Group AG	GSEU +0.45 points	0.23%	0.68%
Eiffage SA	GSEU +0.45 points	0.05%	0.50%
The Sage Group PLCSGE.L	GSEU +0.44 points	0.06%	0.50%
Vodafone Group PLCVOD.L	GSEU +0.43 points	0.14%	0.57%
Pandora A/S	GSEU +0.42 points	0.04%	0.46%
L'oreal SA	GSEU +0.42 points	0.29%	0.71%
Kuehne & Nagel Internatio	GSEU +0.42 points	0.05%	0.47%
Fresenius Medical Care AG	GSEU +0.41 points	0.04%	0.45%
Legal & General Group PLCLGEN.L	GSEU +0.41 points	0.10%	0.51%
Gsk PLCGSK.L	GSEU +0.41 points	0.35%	0.76%
Geberit AG	GSEU +0.40 points	0.10%	0.50%
Admiral Group PLCADM.L	GSEU +0.40 points	0.06%	0.46%
Bayer AG	GSEU +0.39 points	0.28%	0.67%
Ap Moller - Maersk A/S	GSEU +0.39 points	0.03%	0.42%
Nn Group NV	GSEU +0.39 points	0.13%	0.52%
Ap Moller - Maersk A/S	GSEU +0.38 points	0.06%	0.44%
Carrefour SA	GSEU +0.38 points	0.05%	0.43%
Avolta	GSEU +0.37 points	0.03%	0.40%
Bnp Paribas SA	GSEU +0.36 points	0.30%	0.66%
Next PLCNXT.L	GSEU +0.36 points	0.11%	0.47%
Capgemini SE	GSEU +0.35 points	0.07%	0.42%
Mercedes-Benz Group AG	GSEU +0.35 points	0.13%	0.48%
Nestle SA	GSEU +0.34 points	0.87%	1.21%
Ipsen SA	GSEU +0.34 points	0.03%	0.37%
Logitech International SA	GSEU +0.33 points	0.02%	0.35%
Schneider Electric SE	GSEU +0.33 points	0.40%	0.73%
Barclays PLCBARC.L	GSEU +0.33 points	0.33%	0.66%
Hennes & Mauritz Ab	GSEU +0.32 points	0.03%	0.35%
Acs Actividades De Constr	GSEU +0.32 points	0.08%	0.40%
Axa SA	GSEU +0.31 points	0.23%	0.54%
Ing Groep NV	GSEU +0.31 points	0.28%	0.59%
Totalenergies SE	GSEU +0.31 points	0.69%	1.00%
Siemens Energy AG	GSEU +0.30 points	0.36%	0.66%
Ageas Sa/Nv	GSEU +0.30 points	0.06%	0.36%
Adidas AG	GSEU +0.30 points	0.13%	0.43%
Abb Ltd	GSEU +0.29 points	0.34%	0.63%
J Sainsbury PLCSBRY.L	GSEU +0.28 points	0.04%	0.32%
Banca Mediolanum Spa	GSEU +0.28 points	0.02%	0.30%
Barry Callebaut AG	GSEU +0.28 points	0.02%	0.30%
Standard Life PLCSDLF.L	GSEU +0.27 points	0.02%	0.29%
Natwest Group PLCNWG.L	GSEU +0.27 points	0.24%	0.51%
Societe Generale SA	GSEU +0.26 points	0.19%	0.45%
Standard Chartered PLCSTAN.L	GSEU +0.27 points	0.22%	0.49%
Raiffeisen Bank Internati	GSEU +0.27 points	<0.01%	0.27%
Mapfre SA	GSEU +0.26 points	0.03%	0.29%
Smiths Group PLCSMIN.L	GSEU +0.27 points	0.04%	0.31%
Getlink SE	GSEU +0.25 points	0.02%	0.27%
Fresenius SE & Co Kgaa	GSEU +0.26 points	0.09%	0.34%
Bp PLCBP.L	GSEU +0.26 points	0.57%	0.83%
Asr Nederland NV	GSEU +0.25 points	0.09%	0.34%
Nemetschek SE	GSEU +0.25 points	0.01%	0.26%
Fresnillo PLCFRES.L	GSEU +0.24 points	0.03%	0.27%
Bureau Veritas SA	GSEU +0.24 points	0.06%	0.30%
Partners Group Holding AG	GSEU +0.24 points	0.06%	0.30%
Yara International Asa	GSEU +0.24 points	0.03%	0.27%
Sonova Holding AG	GSEU +0.24 points	0.07%	0.31%
Bunzl PLCBNZL.L	GSEU +0.24 points	0.05%	0.29%
Gea Group AG	GSEU +0.24 points	0.05%	0.29%
Schindler Holding AG	GSEU +0.23 points	0.05%	0.28%
Marks & Spencer Group PLCMKS.L	GSEU +0.23 points	0.05%	0.28%
Associated British FoodsABF.L	GSEU +0.24 points	0.03%	0.27%
Unipol Gruppo Spa	GSEU +0.23 points	0.05%	0.28%
Ems-Chemie Holding AG	GSEU +0.24 points	0.02%	0.26%
Gjensidige Forsikring Asa	GSEU +0.23 points	0.02%	0.25%
Kesko Oyj	GSEU +0.22 points	0.05%	0.27%
Credit Agricole SA	GSEU +0.22 points	0.06%	0.28%
Vat Group AG	GSEU +0.23 points	0.06%	0.29%
Buzzi Unicem Spa	GSEU +0.22 points	0.02%	0.24%
Schindler Holding AG	GSEU +0.21 points	0.04%	0.25%
Poste Italiane Spa	GSEU +0.21 points	0.10%	0.31%
Knorr-Bremse AG	GSEU +0.21 points	0.03%	0.24%
Finecobank Banca Fineco’s	GSEU +0.21 points	0.06%	0.27%
Telefonaktiebolaget Lm Er	GSEU +0.21 points	0.12%	0.33%
Rio Tinto PLCRIO.L	GSEU +0.21 points	0.27%	0.48%
Omv AG	GSEU +0.20 points	0.06%	0.26%
Swedbank Ab	GSEU +0.20 points	0.11%	0.31%
Halma PLCHLMA.L	GSEU +0.20 points	0.05%	0.25%
Italgas Spa	GSEU +0.19 points	0.03%	0.22%

All 3,869 DFAI holdings⁠All 337 GSEU 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 GSEU Cost

Overpaying GSEU vs DFAI

$1,410

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

DFAI 0.18%
$3,749
GSEU 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

DFAI 0.18%
GSEU 0.25%
Overpaying

Year by year

Year	DFAI	GSEU	Overpaying
10	$328	$455	$127
20	$1,281	$1,769	$488
30	$3,749	$5,159	$1,410

Expense ratio

0.18%DFAI, cheaper
0.25%GSEU

DFAI0.18%GSEU0.25%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

DFAI 3rd cheapest of 30 funds

GSEU 8th cheapest of 30 funds

DFAI vs GSEU Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFAI 2.44%; GSEU 2.80%, better
Payout (12M): DFAI $1.01; GSEU $1.35
Last payment: DFAI $0.18; GSEU $0.93
Ex-dividend: DFAI Sep 22, 2026; GSEU Jun 24, 2026
Paid on: DFAI Sep 24, 2026; GSEU Jun 30, 2026
Frequency: DFAI Quarterly; GSEU Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DFAIQuarterly · 24 paymentsAll DFAI payments⁠

GSEUTwice a year · 31 paymentsAll GSEU payments⁠

DFAI vs GSEU Risk

Fall from peak · 5 years

DFAI
GSEU

Risk facts

VolatilityStd dev, 3 years: DFAI 11.6%, betterGSEU 12.4%
Return per unit of riskSharpe ratio, 3 years: DFAI 1.33, betterGSEU 1.14
Worst fallMax drawdown, 5 years: DFAI −27.4%, betterGSEU −33.8%
Market sensitivityBeta, 5 years: DFAI 0.91GSEU 0.82; Market = 1

DFAI and GSEU 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 GSEU

In short

Stated mandate

Why people hold it

Worth knowing

How DFAI and GSEU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAI

Only in GSEU

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 GSEU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAI

Only in GSEU

Weight gaps