DFAI vs RWIN: Grades, Fees and Holdings Compared

Dimensional International Core Equity Market ETF

DFAIANYSE Arca

Rayliant NxtGen Multifactor International Equity ETF

RWINDNasdaq

Overlap

17.5%by weight

Expense ratio

DFAI −0.24pt a year

DFAI0.18%RWIN0.42%

Avg volume · 30D

DFAI 2534.7×the volume

DFAI1.81MRWIN716

DFAI vs RWIN Performance

Jul 31, 2026 – Oct 30, 2026

−1.3%DFAI+0.7%RWIN

Expense ratio: DFAI 0.18%, better; RWIN 0.42%
Fund size: DFAI $18.2B; RWIN $20M
1Y total return: DFAI +15.9%; RWIN No data
Yield (12M): DFAI 2.44%; RWIN No data
Holdings: DFAI 3767; RWIN 171
Avg volume (30D): DFAI 1.81M sh, better; RWIN 716 sh
NAV per share: DFAI $41.47; RWIN $27.34
52W range

ETF.net Grade

Pillar letters and Scores for DFAI, RWIN, with each pillar’s weight
Pillar	DFAI	RWIN
Cost30% weight	A91Higher	D28
Mission25% weight	B63	Not scored
Risk15% weight	C49	A89Higher
Tradability15% weight	A81Higher	F19
Holdings10% weight	A80Higher	D36
Durability5% weight	A71Higher	F20

Rank among International Multifactor funds

How we build Categories ›

Same Category. DFAI and RWIN 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 RWIN 21st 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 21DFDTFirst Trust Developed Markets ex-US AlphaDEX FundScore 38
Rank 21DRWINRayliant NxtGen Multifactor International Equity ETFScore 38
Rank 23DDWMFWisdomTree International Multifactor FundScore 37

Our read on each fund

ETF.net Research

DFAIADimensional International Core Equity Market ETF

RWINDRayliant NxtGen Multifactor International 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.

RWIN Rayliant's quant house fills the gap in its NxtGen lineup: developed markets outside the US, sorted by factor models instead of market cap. It arrived in 2026 charging 0.42% into an aisle stacked with cheap, entrenched rivals.

Stated mandate

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

RWIN The Fund seeks long-term capital appreciation.

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.

RWIN Completes Rayliant's NxtGen trio. Alongside the firm's US and emerging-markets multifactor funds, it lets you build a global factor sleeve on one shop's models.sec.gov
One fee, no fine print. The prospectus fee table shows the 0.42% management fee as the entire tab, with no 12b-1 distribution charge stacked on top.sec.gov
Factor-driven, not cap-weighted. Stocks are selected and sized on multifactor signals, so the portfolio doesn't default to whichever foreign mega-caps got biggest.

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.

RWIN At 0.42% it prices above the peer median of 0.38% and well above established options like INTF at 0.16% and FDEV at 0.18%. The models have to earn that gap.
Small and thinly traded. Spreads can run wide, so execution matters more here than in a mega-fund with constant two-way flow.
It opened in 2026, so there's no long live record, and it sits at the back of a peer group led by older, cheaper factor funds with deep asset bases.

Full DFAI profile⁠

Full RWIN profile⁠

DFAI vs RWIN Holdings

How DFAI and RWIN differ

Overlap by weight

17.5%

Shared holdings make up 90.0% of RWIN and 19.7% of DFAI.

Level by level

Holdings148 in both17.5%
Countryby domicile86.7%
Asset classEquity100%

Sector

No Sector split for RWIN.

Country, concentration and asset class

Country by domicile

Country weights in DFAI and RWIN, widest gap first
Country	More in DFAIMore in RWIN	DFAI	RWIN
Canada	RWIN +2.8 points	11.4%	14.2%
Germany	RWIN +2.7 points	7.2%	9.9%
Denmark	RWIN +2.2 points	1.5%	3.7%
United Kingdom	DFAI +2.0 points	11.7%	9.7%
Netherlands	RWIN +1.9 points	4.8%	6.7%
Sweden	DFAI +1.8 points	2.9%	1.1%
Italy	DFAI +1.6 points	2.8%	1.2%
United States	RWIN +1.6 points	1.0%	2.6%
Other countries (19)	DFAI +5.7 points	56.7%	51.0%

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

Concentration

Weight in the 10 largest Holdings

DFAI9.8%
RWIN20.3%

Securities held

DFAI3,749
RWIN170

Asset class

DFAI: Equity
RWIN: Equity

Holdings

Only in DFAI3,601
In both148
Only in RWIN22

Only in DFAI

3,601 securities, 80.0% of DFAI by weight

Asml Holding NV1.90%
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%
Bhp Group Ltd0.58%
Sap SE0.57%
Sony Group Corp0.57%
Siemens AG0.56%
Toronto-Dominion Bank0.53%
Commonwealth Bank of Aust0.51%
Hitachi Ltd0.45%
Deutsche Telekom AG0.41%
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%
Tokio Marine Holdings Inc0.36%
Zurich Insurance Group AG0.36%
Mizuho Financial Group In0.36%
Air Liquide SA0.35%
Bank of Nova Scotia/The0.35%
Airbus SE0.34%
British American Tobacco0.34%
Barclays PLC0.33%
Royal Bank of Canada0.31%
Intesa Sanpaolo Spa0.30%
Aia Group Ltd0.30%
Bnp Paribas SA0.30%
Enel Spa0.30%
L'oreal SA0.29%
Cie Financiere Richemont0.29%
National Australia Bank L0.29%
Ing Groep NV0.28%
Enbridge Inc0.28%
Novartis AG0.28%
Westpac Banking Corp0.28%
Bayer AG0.28%
Rio Tinto PLC0.27%
Novo Nordisk A/S0.27%
Fast Retailing Co Ltd0.27%

Only in RWIN

22 securities, 10.0% of RWIN by weight

Power Corp of Canada1.62%
Spotify Technology S.A.1.36%
InterContinental Hotels Group plc0.78%
Roche Holding A.G.0.63%
Amadeus IT Group S.A.0.56%
Orion OYJ0.54%
Bbh Sweep Vehicle0.49%
M&G plc0.44%
Tenaris S.A.0.43%
Tele2 A.B.0.37%
Millicom International Cellular S.A.0.32%
Telefonaktiebolaget LM Ericsson0.30%
Vicinity Centres0.30%
Canadian Tire Corp Ltd.0.29%
International Consolidated Airlines Group S.A.0.28%
Swedbank A.B.0.23%
Kawasaki Kisen Kaisha Ltd.0.21%
Sino Land Company Ltd.0.21%
Nordea Bank Abp0.19%
ORIX Corporation0.18%
Receivables/Payables0.17%
Klepierre S.A.0.11%

Weight gaps

The 100 widest of 148 Holdings in both funds.

Holding weights in DFAI and RWIN, widest gap first
Holding	More in DFAIMore in RWIN	DFAI	RWIN
Suncor Energy Inc	RWIN +2.35 points	0.06%	2.41%
Axa SA	RWIN +1.88 points	0.23%	2.11%
Roche Holding AG	RWIN +1.80 points	1.19%	2.99%
Asml Holding NV	RWIN +1.78 points	0.41%	2.19%
MS&AD Insurance Group Hol	RWIN +1.58 points	0.17%	1.75%
Daiichi Life Group Inc	RWIN +1.55 points	0.17%	1.72%
Allianz SE	RWIN +1.49 points	0.61%	2.10%
Repsol SA	RWIN +1.36 points	0.21%	1.57%
Danske Bank A/S	RWIN +1.34 points	0.13%	1.47%
Basf SE	RWIN +1.31 points	0.23%	1.54%
Galderma Group AG	RWIN +1.31 points	0.16%	1.47%
Advantest Corp	RWIN +1.25 points	0.62%	1.87%
Shell PLCSHEL.L	DFAI +1.18 points	1.29%	0.11%
Astellas Pharma Inc	RWIN +1.09 points	0.13%	1.22%
Abn Amro Bank NV	RWIN +1.07 points	0.12%	1.19%
Sanofi	RWIN +1.07 points	0.27%	1.34%
Rio Tinto Ltd	RWIN +1.08 points	0.14%	1.22%
Vodafone Group PLCVOD.L	RWIN +1.07 points	0.14%	1.21%
Loblaw Cos Ltd	RWIN +1.06 points	0.10%	1.16%
Imperial Brands PLCIMB.L	RWIN +1.05 points	0.13%	1.18%
Bridgestone Corp	RWIN +1.02 points	0.12%	1.14%
Sumitomo Mitsui Trust	RWIN +1.00 points	0.11%	1.11%
Genmab A/S	RWIN +1.00 points	0.11%	1.11%
Japan Post Holdings Co Lt	RWIN +0.96 points	0.08%	1.04%
Vestas Wind Systems A/S	RWIN +0.96 points	0.11%	1.07%
Fairfax Financial Holding	RWIN +0.94 points	0.17%	1.11%
Merck Kgaa	RWIN +0.92 points	0.06%	0.98%
Nn Group NV	RWIN +0.90 points	0.13%	1.03%
Coles Group Ltd	RWIN +0.90 points	0.09%	0.99%
Eneos Holdings Inc	RWIN +0.87 points	0.12%	0.99%
Legal & General Group PLCLGEN.L	RWIN +0.83 points	0.10%	0.93%
Mercedes-Benz Group AG	RWIN +0.83 points	0.13%	0.96%
Recruit Holdings Co Ltd	RWIN +0.83 points	0.59%	1.42%
Asics Corp	RWIN +0.76 points	0.09%	0.85%
Aristocrat Leisure Ltd	RWIN +0.74 points	0.09%	0.83%
Aercap Holdings NVAER	RWIN +0.75 points	<0.01%	0.75%
Constellation Software In	RWIN +0.73 points	0.12%	0.85%
Gsk PLCGSK.L	RWIN +0.73 points	0.35%	1.08%
Central Japan Railway Co	RWIN +0.72 points	0.07%	0.79%
Koninklijke Kpn NV	RWIN +0.70 points	0.11%	0.81%
Swiss Life Holding AG	RWIN +0.69 points	0.15%	0.84%
Kioxia Holdings Corp	RWIN +0.67 points	0.25%	0.92%
Magna International Inc	RWIN +0.67 points	0.04%	0.71%
Great-West Lifeco Inc	RWIN +0.66 points	0.05%	0.71%
Rolls-Royce Holdings PLCRR.L	RWIN +0.65 points	0.48%	1.13%
Volkswagen AG	RWIN +0.65 points	0.07%	0.72%
Societe Generale SA	RWIN +0.58 points	0.19%	0.77%
Logitech International SA	RWIN +0.57 points	0.02%	0.59%
Abb Ltd	RWIN +0.57 points	0.34%	0.91%
Telstra Corp Ltd	RWIN +0.54 points	0.05%	0.59%
Kinross Gold CorpKGC	RWIN +0.54 points	0.09%	0.63%
Ia Financial Corp Inc	RWIN +0.53 points	0.07%	0.60%
Safran SA	RWIN +0.53 points	0.36%	0.89%
Admiral Group PLCADM.L	RWIN +0.51 points	0.06%	0.57%
Henkel AG & Co Kgaa	RWIN +0.52 points	0.07%	0.59%
Hydro One Ltd	RWIN +0.50 points	0.05%	0.55%
Ageas Sa/Nv	RWIN +0.48 points	0.06%	0.54%
Osaka Gas Co Ltd	RWIN +0.48 points	0.05%	0.53%
Omv AG	RWIN +0.47 points	0.06%	0.53%
Deutsche Boerse AG	RWIN +0.46 points	0.26%	0.72%
Rogers Communications Inc	RWIN +0.46 points	0.04%	0.50%
Poste Italiane Spa	RWIN +0.44 points	0.10%	0.54%
George Weston Ltd	RWIN +0.45 points	0.05%	0.50%
Barrick Mining CorpB	RWIN +0.44 points	0.21%	0.65%
Neste Oyj	RWIN +0.44 points	0.05%	0.49%
Kirin Holdings Co Ltd	RWIN +0.43 points	0.06%	0.49%
Aegon Ltd	RWIN +0.42 points	0.02%	0.44%
Apa Group	RWIN +0.41 points	0.04%	0.46%
The Sage Group PLCSGE.L	RWIN +0.40 points	0.06%	0.46%
Denso Corp	RWIN +0.39 points	0.06%	0.45%
Magnum Ice Cream Co Nv/Th	RWIN +0.39 points	0.03%	0.42%
Belimo Holding AG	RWIN +0.39 points	0.03%	0.42%
Tokyo Electron Ltd	DFAI +0.39 points	0.51%	0.12%
Unipol Gruppo Spa	RWIN +0.38 points	0.05%	0.43%
Medibank Pvt Ltd	RWIN +0.38 points	0.04%	0.42%
Raiffeisen Bank Internati	RWIN +0.39 points	<0.01%	0.39%
Yamaha Motor Co Ltd	RWIN +0.37 points	0.05%	0.42%
Sompo Holdings Inc	RWIN +0.37 points	0.14%	0.51%
Banco Comercial Portugues	RWIN +0.37 points	0.04%	0.41%
Sbi Holdings Inc/Japan	RWIN +0.37 points	0.06%	0.43%
Wartsila Oyj Abp	RWIN +0.35 points	0.06%	0.41%
Standard Chartered PLCSTAN.L	RWIN +0.34 points	0.22%	0.56%
Mitsubishi Chem Grp Corp	RWIN +0.34 points	0.05%	0.39%
Talanx AG	RWIN +0.31 points	0.06%	0.37%
Sitc International Holdin	RWIN +0.32 points	0.04%	0.36%
Pro Medicus Ltd	RWIN +0.31 points	0.02%	0.33%
West Japan Railway Co	RWIN +0.32 points	0.03%	0.35%
Qbe Insurance Group Ltd	RWIN +0.32 points	0.13%	0.45%
Kingfisher PLCKGF.L	RWIN +0.30 points	0.04%	0.34%
Henkel AG & Co Kgaa	RWIN +0.30 points	0.02%	0.32%
Idemitsu Kosan Co Ltd	RWIN +0.28 points	0.04%	0.32%
Saputo Inc	RWIN +0.28 points	0.03%	0.31%
Bp PLCBP.L	DFAI +0.27 points	0.57%	0.30%
Agc Inc/Japan	RWIN +0.26 points	0.03%	0.29%
Pls Group Ltd	RWIN +0.25 points	0.02%	0.27%
Shopify Inc- Class ASHOP	RWIN +0.25 points	0.23%	0.48%
Otsuka Holdings Co Ltd	RWIN +0.24 points	0.12%	0.36%
Yokogawa Electric Corp	RWIN +0.24 points	0.03%	0.27%
Glencore PLCGLEN.L	RWIN +0.24 points	0.21%	0.45%
Dassault Aviation SA	RWIN +0.23 points	0.02%	0.25%

All 3,869 DFAI holdings⁠All 172 RWIN 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 RWIN Cost

Overpaying RWIN vs DFAI

$4,723

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

DFAI 0.18%
$3,749
RWIN 0.42%
$8,472

Amount$10,000

Years30 years

Cost over time

DFAI 0.18%
RWIN 0.42%
Overpaying

Year by year

Year	DFAI	RWIN	Overpaying
10	$328	$759	$431
20	$1,281	$2,927	$1,646
30	$3,749	$8,472	$4,723

Expense ratio

0.18%DFAI, cheaper
0.42%RWIN

DFAI0.18%RWIN0.42%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

DFAI 3rd cheapest of 30 funds

RWIN 22nd cheapest of 30 funds

DFAI vs RWIN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFAI 2.44%; RWIN No data
Payout (12M): DFAI $1.01; RWIN No data
Last payment: DFAI $0.18; RWIN $0.05
Ex-dividend: DFAI Sep 22, 2026; RWIN Sep 29, 2026
Paid on: DFAI Sep 24, 2026; RWIN Oct 1, 2026
Frequency: DFAI Quarterly; RWIN Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

DFAIQuarterly · 24 paymentsAll DFAI payments⁠

RWINQuarterly · 2 paymentsAll RWIN payments⁠

DFAI vs RWIN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFAI 11.6%RWIN No data
Return per unit of riskSharpe ratio, 3 years: DFAI 1.33RWIN No data
Worst fallMax drawdown, 5 years: DFAI −27.4%RWIN No data
Market sensitivityBeta, 5 years: DFAI 0.91RWIN 0.02; Market = 1

DFAI and RWIN 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 RWIN

In short

Stated mandate

Why people hold it

Worth knowing

How DFAI and RWIN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAI

Only in RWIN

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 RWIN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAI

Only in RWIN

Weight gaps