DFAI vs ISCF: Grades, Fees and Holdings Compared

Dimensional International Core Equity Market ETF

DFAIANYSE Arca

iShares International Small-Cap Equity Factor ETF

ISCFBNYSE Arca

Overlap

7.1%by weight

Expense ratio

DFAI −0.06pt a year

DFAI0.18%ISCF0.24%

Avg volume · 30D

DFAI 36.7×the volume

DFAI1.81MISCF49.4K

5Y return · a year

DFAI +2.4pt

DFAI+9.6%ISCF+7.2%

DFAI vs ISCF Performance

Oct 29, 2021 – Oct 30, 2026

+58.2%DFAI+41.4%ISCF

Expense ratio: DFAI 0.18%, better; ISCF 0.24%
Fund size: DFAI $18.2B; ISCF $711M
1Y total return: DFAI +15.9%, better; ISCF +11.6%
Yield (12M): DFAI 2.44%; ISCF 3.69%, better
Holdings: DFAI 3767; ISCF 1206
Avg volume (30D): DFAI 1.81M sh, better; ISCF 49.4K sh
NAV per share: DFAI $41.47; ISCF $43.60
52W range

ETF.net Grade

Pillar letters and Scores for DFAI, ISCF, with each pillar’s weight
Pillar	DFAI	ISCF
Cost30% weight	A91Higher	A81
Mission25% weight	B63	A100Higher
Risk15% weight	C49Higher	C41
Tradability15% weight	A81Higher	B60
Holdings10% weight	A80	A87Higher
Durability5% weight	A71	A75Higher

Rank among International Multifactor funds

How we build Categories ›

Same Category. DFAI and ISCF 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 ISCF 6th 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 5ARODMHartford Multifactor Developed Markets (ex-US) ETFScore 71
Rank 6BISCFiShares International Small-Cap Equity Factor ETFScore 69
Rank 7BGLOFiShares Global Equity Factor ETFScore 67

Our read on each fund

ETF.net Research

DFAIADimensional International Core Equity Market ETF

ISCFBiShares International Small-Cap Equity Factor 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.

ISCF Factor investing usually stops at big multinationals. ISCF runs value, quality, momentum and low volatility on developed-market small caps outside the US, roughly 1,200 of them, for 0.24% a year.

Stated mandate

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

ISCF The Fund seeks to follow an index of developed-market small-cap stocks outside the United States, selected and weighted to provide favorable exposure to specified style factors within defined constraints.

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.

ISCF Four factors in one wrapper: value, quality, momentum and low volatility, applied inside constraints meant to keep country and sector tilts from running away.ishares.com
0.24% a year undercuts the typical international multifactor fund, and it buys the small-cap end that most factor ETFs skip entirely.
Roughly 1,200 stocks across developed markets outside the US, so no single name or country runs the show.
Running since 2015, and the portfolio it holds lines up closely with the mandate it advertises: one of the tighter implementations in its peer group.

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.

ISCF Small caps abroad move harder than large-cap international funds, and foreign-currency swings feed into what you see in dollars.
It trades moderately, not like the large-cap factor names (INTF, GSIE), so bid-ask spreads can matter more than the headline fee.
Distributions land once or twice a year rather than quarterly, so cash arrives lumpy.

Full DFAI profile⁠

Full ISCF profile⁠

DFAI vs ISCF Holdings

How DFAI and ISCF differ

Overlap by weight

7.1%

Shared holdings make up 75.9% of ISCF and 7.3% of DFAI.

Level by level

Holdings816 in both7.1%
Sector11 Sectors79.0%
Countryby domicile88.2%
Asset classEquity100%

Sector

Sector weights in DFAI and ISCF, widest gap first
Sector	More in DFAIMore in ISCF	DFAI	ISCF
Financials	DFAI +11.9 points	24.6%	12.7%
Real Estate	ISCF +6.7 points	1.2%	7.9%
Consumer Discretionary	ISCF +5.7 points	7.7%	13.4%
Industrials	ISCF +5.6 points	17.7%	23.3%
Health Care	DFAI +2.9 points	8.7%	5.8%
Materials	ISCF +2.9 points	8.9%	11.8%
Energy	DFAI +2.8 points	7.1%	4.3%
Consumer Staples	DFAI +2.2 points	6.2%	4.0%
Technology	DFAI +0.9 points	10.5%	9.6%
Utilities	DFAI +0.1 points	3.7%	3.6%
Communication	ISCF +0.1 points	3.6%	3.7%

Country, concentration and asset class

Country by domicile

Country weights in DFAI and ISCF, widest gap first
Country	More in DFAIMore in ISCF	DFAI	ISCF
Japan	ISCF +3.6 points	24.3%	27.9%
Switzerland	DFAI +3.0 points	8.6%	5.6%
United Kingdom	ISCF +2.4 points	11.7%	14.1%
Netherlands	DFAI +2.2 points	4.8%	2.6%
Australia	ISCF +1.8 points	6.0%	7.8%
Denmark	ISCF +1.2 points	1.5%	2.7%
Germany	DFAI +1.1 points	7.2%	6.1%
United States	DFAI +1.0 points	1.0%	0.0%
Other countries (19)	DFAI +1.8 points	34.9%	33.1%

Outside the US: DFAI 99% developed, 1% emerging. ISCF 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

DFAI9.8%
ISCF5.0%

Securities held

DFAI3,749
ISCF1,189

Asset class

DFAI: Equity
ISCF: Equity

Holdings

Only in DFAI2,933
In both816
Only in ISCF373

Only in DFAI

2,933 securities, 92.4% of DFAI by weight

Asml Holding NV1.90%
Shell PLC1.29%
Roche Holding AG1.19%
Hsbc Holdings PLC0.96%
Nestle SA0.87%
Astrazeneca PLC0.79%
Mitsubishi Ufj Financial0.76%
Novartis AG Adr0.70%
Totalenergies SE0.69%
Royal Bank of Canada0.64%
Toyota Motor Corp0.63%
Advantest Corp0.62%
Allianz SE0.61%
Recruit Holdings Co Ltd0.59%
Bhp Group Ltd0.58%
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%
Asml Holding NV0.41%
Schneider Electric SE0.40%
Unicredit Spa0.40%
Canadian Natural Resource0.40%
Unilever PLC0.39%
Banco Santander SA0.39%
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%
Gsk PLC0.35%
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%

Only in ISCF

373 securities, 23.5% of ISCF by weight

British Land Reit0.38%
Cuscal Ltd0.38%
Klepierre Reit SA0.35%
Tokyu Reit0.34%
Land Securities Group Reit PLC0.32%
Ct Reit Units Trust0.32%
Deterra Royalties0.31%
Maruichi Steel Tube Ltd0.31%
Firstgroup PLC0.31%
Aberdeen Group PLC0.30%
Bridgepoint Group PLC0.28%
Parkway Life Reit Trust0.27%
Paragon Group of Companies0.26%
Goodman New Zealand & Goodman Prop0.25%
Gecina SA0.23%
Hammerson Reit PLC0.22%
Wickes Group PLC0.22%
Tcl Electronics Holdings Ltd0.21%
Delivery Hero0.21%
Onex0.21%
Currys PLC0.20%
Dominos Pizza Group PLC0.20%
Japan Petroleum Exploration0.20%
Shaftesbury Capital Reit PLC0.19%
Japan Logistics Fund Reit Inc0.18%
Oceanagold Corporation Corp0.18%
Seikoh Giken Ltd0.18%
Veon Adr Ltd0.18%
Zegona Communications PLC0.18%
Betsson Class B0.18%
Newprinces0.18%
Fuyo General Lease0.18%
Lasalle Logiport Reit0.17%
Kiwi Property Group Ltd0.17%
Puig Brands SA Class B0.17%
Halfords Group PLC0.17%
Galliford Try PLC0.17%
Trustpilot Group PLC0.17%
Mori Trust Reit Inc0.17%
Hugo Boss N AG0.17%
Chemring Group PLC0.17%
Chemtrade Logistics Income Units0.16%
Louis Hachette Group SA0.16%
Prairiesky Royalty0.15%
Abivax SA0.15%
Mony Group PLC0.15%
Quilter PLC0.15%
Merlin Properties Reit0.15%
Tsi Holdings Ltd0.15%
Kainos Group PLC0.14%

Weight gaps

The 100 widest of 816 Holdings in both funds.

Holding weights in DFAI and ISCF, widest gap first
Holding	More in DFAIMore in ISCF	DFAI	ISCF
Banco De Sabadell SA	ISCF +0.76 points	0.08%	0.84%
Iss A/S	ISCF +0.48 points	0.03%	0.51%
Finning International Inc	ISCF +0.45 points	0.04%	0.50%
Nishi-Nippon Financial Ho	ISCF +0.46 points	0.02%	0.48%
Centerra Gold Inc	ISCF +0.45 points	0.03%	0.48%
Logitech International SA	ISCF +0.44 points	0.02%	0.46%
Sanki Engineering Co Ltd	ISCF +0.42 points	<0.01%	0.43%
Toho Gas Co Ltd	ISCF +0.40 points	<0.01%	0.40%
Dalrymple Bay Infrastruct	ISCF +0.39 points	<0.01%	0.40%
Al Sydbank	ISCF +0.38 points	0.04%	0.42%
Asr Nederland NV	ISCF +0.37 points	0.09%	0.46%
Dpm Metals Inc	ISCF +0.37 points	0.03%	0.40%
Atco Ltd/Canada	ISCF +0.35 points	0.02%	0.37%
Man Group Plc/JerseyEMG.L	ISCF +0.35 points	0.02%	0.37%
Vat Group AG	ISCF +0.36 points	0.06%	0.42%
Kamei Corp	ISCF +0.35 points	<0.01%	0.35%
Banque Cantonale Vaudoise	ISCF +0.33 points	0.02%	0.35%
Russel Metals Inc	ISCF +0.32 points	0.03%	0.35%
Kurabo Industries Ltd	ISCF +0.32 points	<0.01%	0.32%
Riken Technos Corp	ISCF +0.31 points	<0.01%	0.31%
Be Semiconductor Industri	ISCF +0.30 points	0.05%	0.35%
Nkt A/S	ISCF +0.30 points	0.03%	0.33%
Gr Engineering Services L	ISCF +0.30 points	<0.01%	0.30%
Lion Finance Group PLCBGEO.L	ISCF +0.30 points	0.03%	0.33%
Helia Group Ltd	ISCF +0.29 points	<0.01%	0.30%
A2A Spa	ISCF +0.30 points	0.03%	0.33%
Open Text Corp	ISCF +0.29 points	<0.01%	0.30%
Acciona SA	ISCF +0.29 points	0.03%	0.32%
Fleetpartners Group Ltd	ISCF +0.30 points	<0.01%	0.30%
Euronext NV	ISCF +0.29 points	0.06%	0.35%
Clas Ohlson Ab	ISCF +0.29 points	0.01%	0.30%
Koninklijke Bam Groep NV	ISCF +0.29 points	0.02%	0.31%
Nrw Holdings Ltd	ISCF +0.28 points	<0.01%	0.29%
Accelleron Industries Ltd	ISCF +0.29 points	0.03%	0.32%
Konecranes Oyj	ISCF +0.29 points	0.02%	0.31%
Qiagen NV	ISCF +0.28 points	0.04%	0.32%
Swissquote Group Holding	ISCF +0.28 points	0.02%	0.30%
Macmahon Holdings Ltd	ISCF +0.28 points	<0.01%	0.28%
Nagase & Co Ltd	ISCF +0.28 points	0.01%	0.29%
Japan Pulp & Paper Co Ltd	ISCF +0.28 points	<0.01%	0.28%
Keller Group PLCKLR.L	ISCF +0.27 points	<0.01%	0.27%
Senshu Electric Co Ltd	ISCF +0.26 points	<0.01%	0.26%
Psp Swiss Property AG	ISCF +0.26 points	0.03%	0.29%
Yamaguchi Financial Group	ISCF +0.25 points	0.02%	0.27%
Rexel SA	ISCF +0.25 points	0.04%	0.29%
Galenica AG	ISCF +0.25 points	0.03%	0.28%
Investec PLCINVP.L	ISCF +0.25 points	0.02%	0.27%
Acea Spa	ISCF +0.25 points	<0.01%	0.26%
Suzuken Co Ltd/Aichi Japa	ISCF +0.24 points	<0.01%	0.25%
Yurtec Corp	ISCF +0.24 points	<0.01%	0.24%
Acerinox SA	ISCF +0.24 points	0.02%	0.26%
Computacenter PLCCCC.L	ISCF +0.24 points	0.02%	0.26%
Inchcape PLCINCH.L	ISCF +0.24 points	0.01%	0.25%
Genusplus Group Ltd	ISCF +0.24 points	<0.01%	0.24%
Kitz Corp	ISCF +0.24 points	<0.01%	0.24%
Bankinter SA	ISCF +0.24 points	0.05%	0.29%
Dts Corp	ISCF +0.23 points	<0.01%	0.23%
Pearson PLCPSON.L	ISCF +0.22 points	0.04%	0.26%
Gaztransport Et Technigaz	ISCF +0.23 points	0.03%	0.26%
Indra Sistemas SA	ISCF +0.22 points	0.03%	0.25%
Valeura Energy Inc	ISCF +0.22 points	<0.01%	0.23%
Porr AG	ISCF +0.22 points	<0.01%	0.23%
Coface SA	ISCF +0.22 points	0.01%	0.23%
Saizeriya Co Ltd	ISCF +0.21 points	<0.01%	0.22%
Life Corp	ISCF +0.22 points	<0.01%	0.22%
Renault SA	ISCF +0.22 points	0.02%	0.24%
Graincorp Ltd	ISCF +0.21 points	<0.01%	0.22%
Hill & Smith PLCHILS.L	ISCF +0.21 points	<0.01%	0.21%
Greggs PLCGRG.L	ISCF +0.20 points	<0.01%	0.21%
Gea Group AG	ISCF +0.21 points	0.05%	0.26%
Nordex SE	ISCF +0.21 points	0.02%	0.23%
Trican Well Service Ltd	ISCF +0.20 points	<0.01%	0.21%
Takara Holdings Inc	ISCF +0.20 points	<0.01%	0.21%
Dno Asa	ISCF +0.19 points	<0.01%	0.20%
Fresenius Medical Care AG	ISCF +0.19 points	0.04%	0.23%
Zalando SE	ISCF +0.19 points	0.02%	0.21%
Chugoku Marine Paints Ltd	ISCF +0.20 points	<0.01%	0.20%
Aurubis AG	ISCF +0.19 points	0.02%	0.21%
Babcock International GroBAB.L	ISCF +0.19 points	0.04%	0.23%
SCOUT24 AG	ISCF +0.19 points	0.02%	0.21%
Canadian Tire Corp Ltd	ISCF +0.19 points	0.04%	0.23%
Ventia Services Group Pty	ISCF +0.19 points	0.01%	0.20%
Akzo Nobel NV	ISCF +0.19 points	0.04%	0.23%
Empire Co Ltd	ISCF +0.19 points	0.02%	0.21%
Ovs Spa	ISCF +0.18 points	<0.01%	0.19%
Methanex Corp	ISCF +0.18 points	<0.01%	0.18%
Eldorado Gold Corp	ISCF +0.18 points	0.01%	0.19%
Precision Drilling	ISCF +0.19 points	<0.01%	0.19%
Nexi Spa	ISCF +0.17 points	<0.01%	0.18%
Drax Group PLCDRX.L	ISCF +0.18 points	0.02%	0.20%
Oil Refineries Ltd	ISCF +0.17 points	<0.01%	0.18%
Mcmillan Shakespeare Ltd	ISCF +0.17 points	<0.01%	0.18%
Fdj United	ISCF +0.17 points	<0.01%	0.17%
Ki-Star Real Estate Co Lt	ISCF +0.17 points	<0.01%	0.17%
Nsd Co Ltd	ISCF +0.17 points	<0.01%	0.17%
Flatexdegiro SE	ISCF +0.17 points	0.01%	0.18%
Aritzia Inc	ISCF +0.17 points	0.04%	0.21%
Convatec Group PLCCTEC.L	ISCF +0.16 points	<0.01%	0.17%
Netlink Nbn Trust	ISCF +0.16 points	<0.01%	0.17%
D'amico International Shi	ISCF +0.17 points	<0.01%	0.17%

All 3,869 DFAI holdings⁠All 1,188 ISCF 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 ISCF Cost

Overpaying ISCF vs DFAI

$1,210

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

DFAI 0.18%
$3,749
ISCF 0.24%
$4,959

Amount$10,000

Years30 years

Cost over time

DFAI 0.18%
ISCF 0.24%
Overpaying

Year by year

Year	DFAI	ISCF	Overpaying
10	$328	$437	$109
20	$1,281	$1,699	$418
30	$3,749	$4,959	$1,210

Expense ratio

0.18%DFAI, cheaper
0.24%ISCF

DFAI0.18%ISCF0.24%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

DFAI 3rd cheapest of 30 funds

ISCF 6th cheapest of 30 funds

DFAI vs ISCF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFAI 2.44%; ISCF 3.69%, better
Payout (12M): DFAI $1.01; ISCF $1.61
Last payment: DFAI $0.18; ISCF $0.82
Ex-dividend: DFAI Sep 22, 2026; ISCF Jun 15, 2026
Paid on: DFAI Sep 24, 2026; ISCF Jun 18, 2026
Frequency: DFAI Quarterly; ISCF Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DFAIQuarterly · 24 paymentsAll DFAI payments⁠

ISCFTwice a year · 21 paymentsAll ISCF payments⁠

DFAI vs ISCF Risk

Fall from peak · 5 years

DFAI
ISCF

Risk facts

VolatilityStd dev, 3 years: DFAI 11.6%, betterISCF 13.0%
Return per unit of riskSharpe ratio, 3 years: DFAI 1.33, betterISCF 1.17
Worst fallMax drawdown, 5 years: DFAI −27.4%, betterISCF −28.9%
Market sensitivityBeta, 5 years: DFAI 0.91ISCF 0.94; Market = 1

DFAI and ISCF 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 ISCF

In short

Stated mandate

Why people hold it

Worth knowing

How DFAI and ISCF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAI

Only in ISCF

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 ISCF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAI

Only in ISCF

Weight gaps