DFAL vs VAMO: Grades, Fees and Holdings Compared

Dimensional US Large Cap Core Equity Market ETF

DFALACboe

Cambria Value and Momentum ETF

VAMOCCboe

Overlap

2.7%by weight

Expense ratio

DFAL −0.53pt a year

DFAL0.12%VAMO0.65%

Avg volume · 30D

DFAL 12.1×the volume

DFAL162KVAMO13.5K

DFAL vs VAMO Performance

Jul 31, 2026 – Nov 2, 2026

+1.1%DFAL−1.2%VAMO

Expense ratio: DFAL 0.12%, better; VAMO 0.65%
Fund size: DFAL $1.69B; VAMO $88M
1Y total return: DFAL No data; VAMO +11.0%
Yield (12M): DFAL No data; VAMO 0.66%
Holdings: DFAL 531; VAMO 103
Avg volume (30D): DFAL 162K sh, better; VAMO 13.5K sh
NAV per share: DFAL $50.90; VAMO $36.33
52W range

ETF.net Grade

Pillar letters and Scores for DFAL, VAMO, with each pillar’s weight
Pillar	DFAL	VAMO
Cost30% weight	A93Higher	D33
Mission25% weight	Not scored	Not scored
Risk15% weight	B64Higher	B57
Tradability15% weight	A72Higher	B55
Holdings10% weight	B59	Not scored
Durability5% weight	B59Higher	C48

Rank among US Active Contrarian Value funds

How we build Categories ›

Same Category. DFAL and VAMO are both graded against the same 8 US Active Contrarian Value funds, so their Grades compare head to head.

US Active Contrarian Value⁠

Category · 8 funds

See all 8 ›

DFAL ranks 1st and VAMO 6th of 8 funds in the US Active Contrarian Value Category.

Rank 1ADFALDimensional US Large Cap Core Equity Market ETFScore 76
Rank 2ATVALT. Rowe Price Value ETFScore 72
Rank 5CVSLUApplied Finance Valuation Large Cap ETFScore 49
Rank 6CVAMOCambria Value and Momentum ETFScore 44
Rank 7DTCVTowle Small-Cap Value ETFScore 27

Our read on each fund

ETF.net Research

DFALADimensional US Large Cap Core Equity Market ETF

VAMOCCambria Value and Momentum ETF

In short

DFAL No data

VAMO Most value funds just ride out the storm. VAMO owns roughly 100 cheap US stocks, then can short stock index futures to hedge up to 100% of that book when its model reads the market as overvalued or downtrending.

Stated mandate

DFAL No data

VAMO The Fund seeks income and capital appreciation through investments in the U.S. equity market. It normally invests at least 80% of net assets in U.S.-listed equities deemed undervalued using valuation measures such as CAPE.

Why people hold it

DFAL No data

VAMO The hedge is the product: up to 100% of the long portfolio can be offset with index futures when Cambria's valuation and trend models turn unfavorable.cambriafunds.com
Stock picking is rules-based, not vibes. Undervalued US names screened on measures like the cyclically adjusted P/E, with no sector above 25% of the fund.sec.gov
Live since 2015 from Meb Faber's Cambria, a rare ETF that bolts an outright short overlay onto a value screen. Income is part of the mandate; it pays quarterly.cambriafunds.com
Risk metrics screen better than most active US equity funds in its peer group, which is what you would expect from a portfolio that can turn its market exposure off.

Worth knowing

DFAL No data

VAMO 0.65% a year sits right at the median for active US equity funds, but core factor rivals like DFAU (0.12%) and AVLC (0.15%) charge a fraction of that.
Shorting carries its own bill: borrowing and short dividend costs fall outside the management fee, and a hedge that is on during a rally works against the longs.sec.gov cambriafunds.com
A small fund that trades thinly, so spreads matter more here than with a mega-cap index fund.

Full DFAL profile⁠

Full VAMO profile⁠

DFAL vs VAMO Holdings

How DFAL and VAMO differ

Overlap by weight

2.7%

Shared holdings make up 38.6% of VAMO and 2.7% of DFAL.

Level by level

Holdings24 in both2.7%
Sector11 Sectors58.1%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in DFAL and VAMO, widest gap first
Sector	More in DFALMore in VAMO	DFAL	VAMO
Technology	DFAL +33.3 points	39.3%	6.0%
Energy	VAMO +18.8 points	4.3%	23.1%
Financials	VAMO +10.9 points	12.0%	22.9%
Communication	DFAL +6.8 points	8.9%	2.1%
Consumer Discretionary	VAMO +6.1 points	8.9%	15.0%
Health Care	VAMO +3.1 points	9.5%	12.6%
Materials	VAMO +2.8 points	2.1%	4.9%
Utilities	DFAL +1.2 points	2.0%	0.8%
Consumer Staples	DFAL +0.4 points	4.6%	4.2%
Real Estate	DFAL +0.2 points	0.2%	0.0%
Industrials	VAMO +0.1 points	8.3%	8.4%

Country, concentration and asset class

Country by domicile

Country weights in DFAL and VAMO, widest gap first
Country	More in DFALMore in VAMO	DFAL	VAMO
Switzerland	VAMO +0.5 points	0.3%	0.8%
Other countries (6)	DFAL +0.5 points	99.7%	99.2%

Concentration

Weight in the 10 largest Holdings

DFAL34.6%
VAMO32.7%

Securities held

DFAL530
VAMO102

Asset class

DFAL: Equity
VAMO: Equity

Holdings

Only in DFAL506
In both24
Only in VAMO78

Only in DFAL

506 securities, 97.1% of DFAL by weight

Apple Inc.7.01%
NVIDIA Corp6.70%
Microsoft Corp5.55%
Amazon.com Inc.3.49%
Broadcom Inc2.21%
Alphabet Inc - Class A2.21%
Meta Platforms Inc1.98%
Micron Technology Inc.1.85%
Alphabet Inc1.78%
Eli Lilly and Company1.77%
Tesla Inc1.64%
JPMorgan Chase & Co1.41%
Berkshire Hathaway Cl-B1.37%
Exxonmobil Holdings Corp1.29%
Visa Inc1.21%
Advanced Micro Devices1.17%
Johnson & Johnson0.93%
Walmart Inc.0.90%
Mastercard Inc - A0.80%
AbbVie Inc.0.71%
Chevron Corp.0.69%
Cisco Systems Inc.0.60%
Procter & Gamble Co/The0.58%
Costco Wholesale Corp.0.58%
Home Depot Inc0.56%
UnitedHealth Group Inc.0.56%
Merck & Company Inc0.52%
Coca Cola Co.0.51%
Applied Materials Inc.0.46%
General Electric Company0.45%
International Business Ma0.44%
Philip Morris Intl0.44%
Bank of America Corp0.44%
Texas Instruments Inc.0.44%
Amgen Inc0.43%
Lam Research Corp0.43%
Palantir Technologies Inc0.43%
Goldman Sachs Group Inc.0.41%
Caterpillar Inc.0.40%
Kla Corp0.38%
Intel Corp0.38%
New Linde PLC0.37%
Gilead Sciences Inc0.36%
Conocophillips0.35%
Rtx Corp0.34%
Wells Fargo & Co.0.34%
Morgan Stanley0.34%
Verizon Communications0.34%
Amphenol Corp Class A0.31%
Pepsico Inc.0.31%

Only in VAMO

78 securities, 100% of VAMO by weight

First American Treasury Obligations Fund 01/01/20407.61%
AMN Healthcare Services Inc2.02%
Kohl's Corp1.98%
APA Corp1.87%
Slide Insurance Holdings Inc1.85%
Healthcare Services Group Inc1.84%
Oil States International Inc1.81%
Patterson-UTI Energy Inc1.80%
Exelixis Inc1.80%
Murphy Oil Corp1.78%
Pediatrix Medical Group Inc1.77%
Chord Energy Corp1.76%
OPENLANE Inc1.74%
Helmerich & Payne Inc1.72%
W&T Offshore Inc1.71%
Scholastic Corp1.71%
G-III Apparel Group Ltd1.70%
Assurant Inc1.69%
Talos Energy Inc1.68%
MGIC Investment Corp1.67%
Bread Financial Holdings Inc1.66%
Vistance Networks Inc1.66%
Insight Enterprises Inc1.65%
Oshkosh Corp1.65%
Callaway Golf Co1.64%
Terex Corp1.64%
Interface Inc1.63%
Spectrum Brands Holdings Inc1.62%
Rigel Pharmaceuticals Inc1.62%
Jackson Financial Inc1.62%
World Kinect Corp1.62%
Enterprise Financial Services Corp1.62%
Macy's Inc1.61%
agilon health Inc1.61%
Voya Financial Inc1.61%
Pathward Financial Inc1.60%
Happen Inc1.60%
Heritage Insurance Holdings Inc1.60%
UMB Financial Corp1.60%
Lincoln National Corp1.60%
Ingram Micro Holding Corp1.59%
Tactile Systems Technology Inc1.59%
Old Republic International Corp1.57%
Forum Energy Technologies Inc1.57%
First Horizon Corp1.57%
Greif Inc1.57%
NOV Inc1.57%
Pitney Bowes Inc1.56%
Mercury General Corp1.55%
Ziff Davis Inc1.54%

Weight gaps

All 24 Holdings in both funds, largest gap first.

Holding weights in DFAL and VAMO, widest gap first
Holding	More in DFALMore in VAMO	DFAL	VAMO
Ovintiv IncOVV	VAMO +1.80 points	0.05%	1.85%
PermianPR	VAMO +1.78 points	0.05%	1.83%
Dupont De Nemours IncDD	VAMO +1.64 points	0.02%	1.66%
Centene CorpCNC	VAMO +1.64 points	0.06%	1.70%
Reinsurance Group of AmerRGA	VAMO +1.64 points	0.01%	1.65%
Cf Industries HoldingsCF	VAMO +1.61 points	0.05%	1.66%
Devon Energy Corp.DVN	VAMO +1.59 points	0.10%	1.69%
Synchrony FinancialSYF	VAMO +1.59 points	0.06%	1.65%
Loews Corp.L	VAMO +1.57 points	0.05%	1.62%
Cardinal Health Inc.CAH	VAMO +1.56 points	0.10%	1.66%
Mckesson Corp.MCK	VAMO +1.54 points	0.16%	1.70%
Hartford Insurance GroupHIG	VAMO +1.53 points	0.10%	1.63%
Hf Sinclair CorpDINO	VAMO +1.52 points	0.05%	1.57%
Citizens Financial GroupCFG	VAMO +1.51 points	0.05%	1.56%
Capital One FinancialCOF	VAMO +1.47 points	0.17%	1.64%
Phillips 66PSX	VAMO +1.45 points	0.18%	1.63%
General MotorsGM	VAMO +1.43 points	0.29%	1.72%
Marathon Petroleum Corp.MPC	VAMO +1.39 points	0.24%	1.63%
United Airlines HoldingsUAL	VAMO +1.37 points	0.08%	1.45%
Hp IncHPQ	VAMO +1.32 points	0.05%	1.37%
Td Synnex CorpSNX	VAMO +1.30 points	0.04%	1.34%
Valero Energy CorpVLO	VAMO +1.28 points	0.22%	1.50%
Citigroup Inc.C	VAMO +1.21 points	0.28%	1.49%
Newmont CorpNEM	VAMO +1.18 points	0.23%	1.41%

All DFAL holdings⁠All 103 VAMO 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.

DFAL vs VAMO Cost

Overpaying VAMO vs DFAL

$10,197

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

DFAL 0.12%
$2,520
VAMO 0.65%
$12,717

Amount$10,000

Years30 years

Cost over time

DFAL 0.12%
VAMO 0.65%
Overpaying

Year by year

Year	DFAL	VAMO	Overpaying
10	$220	$1,163	$943
20	$859	$4,440	$3,581
30	$2,520	$12,717	$10,197

Expense ratio

0.12%DFAL, cheaper
0.65%VAMO

DFAL0.12%VAMO0.65%

0.12%0.85%

Middle half of US Active Contrarian Value funds
Median 0.54%

DFAL cheapest of 8 funds

VAMO 6th cheapest of 8 funds

DFAL vs VAMO Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DFAL No data; VAMO 0.66%
Payout (12M): DFAL No data; VAMO $0.24
Last payment: DFAL $0.09; VAMO $0.08
Ex-dividend: DFAL Sep 22, 2026; VAMO Sep 18, 2026
Paid on: DFAL Sep 24, 2026; VAMO Sep 21, 2026
Frequency: DFAL Irregular; VAMO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DFALIrregular · 1 paymentAll DFAL payments⁠

VAMOQuarterly · 39 paymentsAll VAMO payments⁠

DFAL vs VAMO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFAL No dataVAMO 12.8%
Return per unit of riskSharpe ratio, 3 years: DFAL No dataVAMO 0.67
Worst fallMax drawdown, 5 years: DFAL No dataVAMO −17.2%
Market sensitivityBeta, 5 years: DFAL 0.90VAMO 0.32; Market = 1

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