DFAL vs VSLU: Grades, Fees and Holdings Compared

Dimensional US Large Cap Core Equity Market ETF

DFALACboe

Applied Finance Valuation Large Cap ETF

VSLUCNYSE Arca

Overlap

58.3%by weight

Expense ratio

DFAL −0.37pt a year

DFAL0.12%VSLU0.49%

Avg volume · 30D

DFAL 6.1×the volume

DFAL162KVSLU26.7K

DFAL vs VSLU Performance

Jul 31, 2026 – Oct 30, 2026

+1.7%DFAL+3.1%VSLU

Expense ratio: DFAL 0.12%, better; VSLU 0.49%
Fund size: DFAL $1.7B; VSLU $578M
1Y total return: DFAL No data; VSLU +12.5%
Yield (12M): DFAL No data; VSLU 0.42%
Holdings: DFAL 531; VSLU 442
Avg volume (30D): DFAL 162K sh, better; VSLU 26.7K sh
NAV per share: DFAL $51.15; VSLU $49.50
52W range

ETF.net Grade

Pillar letters and Scores for DFAL, VSLU, with each pillar’s weight
Pillar	DFAL	VSLU
Cost30% weight	A93Higher	B57
Mission25% weight	Not scored	A74
Risk15% weight	B64Higher	C46
Tradability15% weight	A72Higher	C45
Holdings10% weight	B61Higher	D39
Durability5% weight	B59Higher	B56

Rank among US Active Contrarian Value funds

How we build Categories ›

Same Category. DFAL and VSLU 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 VSLU 5th 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 4BBKDVBNY Mellon Dynamic Value ETFScore 58
Rank 5CVSLUApplied Finance Valuation Large Cap ETFScore 49
Rank 6CVAMOCambria Value and Momentum ETFScore 44

Our read on each fund

ETF.net Research

DFALADimensional US Large Cap Core Equity Market ETF

VSLUCApplied Finance Valuation Large Cap ETF

In short

DFAL No data

VSLU Applied Finance has been estimating what companies are actually worth since 1995. VSLU runs that engine on US large caps: own the ones trading below its intrinsic-value estimate, for less than the typical active fund charges.

Stated mandate

DFAL No data

VSLU The Fund’s stated objective is long-term capital appreciation.

Why people hold it

DFAL No data

VSLU Charges 0.49% a year, below the 0.65% median for active US equity funds. Cheap fuel for an active strategy.
The engine is Applied Finance's Economic Margin framework, which strips accounting distortions to measure what a firm earns above or below its cost of capital.appliedfinance.com appliedfinance.com 2
Stock-picking with a leash: an active mandate for long-term capital appreciation, measured against the Morningstar US Large-Mid Cap Index.
Running since 2021 and one of the stronger overall showings in our active US equity group.

Worth knowing

DFAL No data

VSLU Thinly traded compared with the category's giants, so bid-ask spreads can be wider, especially in fast markets.
Cheap for active, not cheap outright: systematic peers like DFAU (0.12%) and AVLC (0.15%) charge roughly a third as much.
A value discipline means the portfolio can look very different from a cap-weighted index, and its results can diverge for long stretches.

Full DFAL profile⁠

Full VSLU profile⁠

DFAL vs VSLU Holdings

How DFAL and VSLU differ

Overlap by weight

58.3%

Shared holdings make up 95.4% of VSLU and 66.8% of DFAL.

Level by level

Holdings295 in both58.3%
Sector11 Sectors90.7%
Asset classEquity100%
Countryby domicile99.7%

Sector

Sector weights in DFAL and VSLU, widest gap first
Sector	More in DFALMore in VSLU	DFAL	VSLU
Communication	VSLU +4.4 points	8.9%	13.3%
Health Care	VSLU +3.2 points	9.5%	12.7%
Financials	DFAL +2.8 points	12.0%	9.2%
Energy	DFAL +2.1 points	4.3%	2.1%
Industrials	DFAL +1.8 points	8.3%	6.5%
Materials	DFAL +1.1 points	2.1%	1.0%
Utilities	DFAL +1.1 points	2.0%	0.9%
Consumer Discretionary	VSLU +0.6 points	8.9%	9.5%
Real Estate	VSLU +0.5 points	0.2%	0.7%
Technology	VSLU +0.6 points	39.3%	39.9%
Consumer Staples	DFAL +0.5 points	4.6%	4.1%

Country, concentration and asset class

Country by domicile

Country weights in DFAL and VSLU, widest gap first
Country	More in DFALMore in VSLU	DFAL	VSLU
United States	VSLU +0.2 points	99.3%	99.5%
Switzerland	DFAL +0.1 points	0.3%	0.2%
China	DFAL +0.2 points	0.1%	0.0%
United Kingdom	DFAL +0.1 points	0.1%	0.0%
Canada	VSLU +0.1 points	0.0%	0.1%
Mexico	DFAL +0.1 points	0.1%	0.0%
Ireland	Same weight	0.1%	0.1%
Germany	Same weight	0.0%	0.0%
Other countries (2)	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

DFAL34.8%
VSLU51.4%

Securities held

DFAL530
VSLU441

Asset class

DFAL: Equity
VSLU: Equity

Holdings

Only in DFAL235
In both295
Only in VSLU146

Only in DFAL

235 securities, 33.2% of DFAL by weight

Amazon.com Inc.3.48%
Micron Technology Inc.1.92%
Alphabet Inc1.78%
Tesla Inc1.63%
JPMorgan Chase & Co1.42%
Berkshire Hathaway Cl-B1.34%
Advanced Micro Devices1.29%
Walmart Inc.0.87%
Costco Wholesale Corp.0.57%
Intel Corp0.52%
General Electric Company0.46%
Palantir Technologies Inc0.45%
Bank of America Corp0.44%
Goldman Sachs Group Inc.0.42%
New Linde PLC0.36%
Morgan Stanley0.34%
Wells Fargo & Co.0.34%
Amphenol Corp Class A0.32%
Palo Alto Networks Inc0.31%
Thermo Fisher Scientific.0.31%
Salesforce Inc0.30%
Citigroup Inc.0.28%
Seagate Technology Hold0.28%
Walt Disney Co/The0.25%
Ge Vernova Llc0.25%
Marathon Petroleum Corp.0.23%
BlackRock Funding Inc/De0.23%
Oracle Corp.0.23%
Nextera Energy Inc0.23%
Valero Energy Corp0.21%
Danaher Corp.0.20%
Automatic Data Processing0.20%
Hewlett-Packard Enterpris0.18%
Synopsys Inc0.18%
Johnson Controls Intl0.17%
Crowdstrike Holdings Inc0.17%
Phillips 660.17%
Starbucks Corp0.16%
Motorola Solutions Inc.0.16%
Nxp Semiconductors NV0.16%
Bank of New York Mellon0.16%
Lowe's Cos Inc0.15%
Fedex Corp0.15%
Te Connectivity PLC0.15%
Metlife Inc.0.15%
Stryker Corp0.15%
Cme Group Inc.0.14%
The Southern Company0.14%
Duke Energy Corp.0.13%
Cencora Inc0.13%

Only in VSLU

146 securities, 4.6% of VSLU by weight

Simon Property Group Inc0.16%
Honeywell International Inc Honiv0.15%
Honeywell Aerospace Inc Honav0.13%
Oneok Inc0.12%
Nvr Inc0.11%
Restaurant Brands Intern0.11%
Ugi Corp0.11%
Dominos Pizza INC0.10%
Anglogold Ashanti PLC0.09%
National Fuel Gas Co0.09%
Lululemon Athletica Inc0.08%
Deckers Outdoor Corp0.08%
Gen Digital Inc0.07%
Halozyme Therapeutics Inc0.07%
Godaddy Inc - Class A0.07%
Dicks Sporting Goods Inc0.07%
Public Storage0.06%
Factset Research Systems Inc0.05%
Crocs Inc0.05%
Booz Allen Hamilton Holdings0.05%
Jazz Pharmaceuticals PLC0.05%
Allegion Public Limited Company0.05%
H&R Block Inc0.05%
Lennox International Inc0.05%
Ubiquiti Inc0.04%
Jbs Nv-A0.04%
Churchill Downs Inc0.04%
Wyndham Hotels & Resorts Inc.0.04%
Apa Corp0.04%
Jack Henry0.04%
Carlisle Companies Incorporated0.04%
Sba Communications Corp0.04%
Choice Hotels Intl Inc0.04%
Solventum Corp W/I Common Stock0.04%
Travel + Leisure Co0.04%
Bath & Body Works Inc0.04%
Crown Holdings Inc0.04%
Match Group Inc0.04%
Parametric Technology Corp0.04%
MGM Resorts International0.04%
Core & Main Inc0.04%
Toll Brothers Inc0.04%
Aptiv Holdings Ltd Common Stock USD 0.010.03%
Planet Fitness Inc - Class A0.03%
Ball Corp0.03%
Wingstop Inc0.03%
BJ's Wholesale Club Holdings Inc.0.03%
Oge Energy Corp0.03%
J M Smucker Co COM STK NPV0.03%
Science Applications Inte0.03%

Weight gaps

The 100 widest of 295 Holdings in both funds.

Holding weights in DFAL and VSLU, widest gap first
Holding	More in DFALMore in VSLU	DFAL	VSLU
Apple Inc.AAPL	VSLU +3.41 points	6.98%	10.39%
Alphabet Inc - Class AGOOGL	VSLU +2.72 points	2.21%	4.93%
Microsoft CorpMSFT	VSLU +2.71 points	5.54%	8.25%
NVIDIA CorpNVDA	VSLU +2.60 points	6.88%	9.48%
Visa IncV	VSLU +2.52 points	1.18%	3.70%
Meta Platforms IncMETA	VSLU +2.24 points	1.98%	4.22%
Mastercard Inc - AMA	VSLU +1.97 points	0.79%	2.76%
Eli Lilly and CompanyLLY	VSLU +1.72 points	1.69%	3.41%
Merck & Company IncMRK	VSLU +0.99 points	0.50%	1.49%
Booking Holdings IncBKNG	VSLU +0.81 points	0.15%	0.96%
Marriott Intl Class AMAR	VSLU +0.72 points	0.11%	0.83%
Exxonmobil Holdings CorpXOM	DFAL +0.64 points	1.24%	0.60%
Hilton Worldwide HoldHLT	VSLU +0.50 points	0.15%	0.65%
Sandisk Corp/DeSNDK	VSLU +0.50 points	0.25%	0.75%
Broadcom IncAVGO	VSLU +0.46 points	2.30%	2.76%
O'reilly Automotive Inc.ORLY	VSLU +0.45 points	0.12%	0.57%
AbbVie Inc.ABBV	VSLU +0.41 points	0.69%	1.10%
Johnson & JohnsonJNJ	VSLU +0.40 points	0.92%	1.32%
Accenture PLCACN	VSLU +0.40 points	0.22%	0.62%
Lam Research CorpLRCX	VSLU +0.40 points	0.45%	0.85%
Philip Morris IntlPM	VSLU +0.38 points	0.43%	0.81%
Chevron Corp.CVX	DFAL +0.38 points	0.67%	0.29%
Mcdonald's Corp.MCD	VSLU +0.37 points	0.24%	0.61%
UnitedHealth Group Inc.UNH	DFAL +0.36 points	0.55%	0.19%
Autozone Inc.AZO	VSLU +0.34 points	0.07%	0.41%
Mckesson Corp.MCK	VSLU +0.33 points	0.15%	0.48%
Adobe IncADBE	VSLU +0.32 points	0.15%	0.47%
Progressive CorpPGR	VSLU +0.32 points	0.24%	0.56%
Texas Instruments Inc.TXN	DFAL +0.32 points	0.45%	0.13%
Constellation Energy CorpCEG	VSLU +0.31 points	0.11%	0.42%
Bristol-Myers Squibb Co.BMY	VSLU +0.31 points	0.22%	0.53%
Kla CorpKLAC	VSLU +0.30 points	0.40%	0.70%
Applovin CorpAPP	VSLU +0.29 points	0.04%	0.33%
Home Depot IncHD	VSLU +0.29 points	0.55%	0.84%
Analog Devices Inc.ADI	DFAL +0.29 points	0.30%	0.01%
Marsh & Mclennan Cos IncMRSH	VSLU +0.26 points	0.17%	0.43%
Intuit Inc.INTU	VSLU +0.26 points	0.11%	0.37%
Amgen IncAMGN	VSLU +0.26 points	0.42%	0.68%
Yum! Brands Inc.YUM	VSLU +0.25 points	0.08%	0.33%
Moody's CorporationMCO	VSLU +0.24 points	0.18%	0.42%
Hca Healthcare IncHCA	VSLU +0.23 points	0.10%	0.33%
T-Mobile Us IncTMUS	VSLU +0.19 points	0.14%	0.33%
Aon PLCAON	VSLU +0.19 points	0.14%	0.33%
Transdigm Group IncTDG	VSLU +0.18 points	0.11%	0.29%
Altria Group Inc.MO	VSLU +0.16 points	0.16%	0.32%
Vistra Energy CorpVST	VSLU +0.16 points	0.09%	0.25%
ConocophillipsCOP	DFAL +0.16 points	0.34%	0.18%
Expedia Group IncEXPE	VSLU +0.16 points	0.06%	0.22%
Deere & Co.DE	DFAL +0.15 points	0.24%	0.09%
Boston Scientific Corp.BSX	VSLU +0.15 points	0.07%	0.22%
Ford Motor CoF	VSLU +0.15 points	0.09%	0.24%
American Tower Corp. ReitAMT	VSLU +0.14 points	0.04%	0.18%
American Express Co.AXP	VSLU +0.14 points	0.30%	0.44%
Procter & Gamble Co/ThePG	DFAL +0.14 points	0.57%	0.43%
Capital One FinancialCOF	DFAL +0.13 points	0.17%	0.04%
Cvs Health CorpCVS	DFAL +0.13 points	0.15%	0.02%
Marvell Technology IncMRVL	DFAL +0.13 points	0.18%	0.05%
Gilead Sciences IncGILD	DFAL +0.13 points	0.35%	0.22%
Verizon CommunicationsVZ	DFAL +0.13 points	0.33%	0.20%
Republic Services IncRSG	DFAL +0.12 points	0.15%	0.03%
Dell Technologies IncDELL	VSLU +0.13 points	0.22%	0.35%
Airbnb IncABNB	VSLU +0.11 points	0.09%	0.20%
International Business MaIBM	VSLU +0.11 points	0.44%	0.55%
The Charles Schwab Corp.SCHW	DFAL +0.12 points	0.23%	0.11%
Ameriprise Financial IncAMP	VSLU +0.11 points	0.10%	0.21%
Cardinal Health Inc.CAH	VSLU +0.11 points	0.10%	0.21%
Monster Beverage CorpMNST	VSLU +0.11 points	0.08%	0.19%
Corning IncGLW	DFAL +0.10 points	0.13%	0.03%
Tjx Companies Inc.TJX	VSLU +0.11 points	0.21%	0.32%
Mondelez IntlMDLZ	DFAL +0.11 points	0.15%	0.04%
Otis Worldwide CorpOTIS	VSLU +0.11 points	0.05%	0.16%
Waste Management Inc.WM	DFAL +0.10 points	0.15%	0.05%
Mettler-Toledo Intl IncMTD	VSLU +0.10 points	0.06%	0.16%
Cigna Group/TheCI	DFAL +0.10 points	0.16%	0.06%
Kinder Morgan Inc.KMI	DFAL +0.10 points	0.14%	0.04%
Emerson Elec CoEMR	DFAL +0.10 points	0.17%	0.07%
Slb LtdSLB	DFAL +0.10 points	0.16%	0.06%
Applied Materials Inc.AMAT	DFAL +0.10 points	0.49%	0.39%
Nucor Corp.NUE	DFAL +0.10 points	0.13%	0.03%
Sherwin-Williams CoSHW	VSLU +0.09 points	0.17%	0.26%
Iqvia Holdings IncIQV	VSLU +0.09 points	0.10%	0.19%
Zoetis IncZTS	VSLU +0.10 points	0.04%	0.14%
Eog Resources Inc.EOG	DFAL +0.09 points	0.22%	0.13%
Rtx CorpRTX	DFAL +0.09 points	0.34%	0.25%
Hp IncHPQ	VSLU +0.09 points	0.05%	0.14%
Ups Inc. Class BUPS	DFAL +0.09 points	0.16%	0.07%
U.s. BancorpUSB	DFAL +0.09 points	0.13%	0.04%
Western DigitalWDC	VSLU +0.09 points	0.21%	0.30%
Pnc Financial Services GrPNC	DFAL +0.08 points	0.12%	0.04%
Travelers Companies Inc.TRV	DFAL +0.09 points	0.22%	0.13%
Baker Hughes CoBKR	DFAL +0.08 points	0.11%	0.03%
Aflac IncAFL	DFAL +0.08 points	0.11%	0.03%
Teradyne Inc.TER	DFAL +0.08 points	0.09%	0.01%
Eaton Corp PLCETN	DFAL +0.08 points	0.21%	0.13%
Elevance Health IncELV	DFAL +0.08 points	0.12%	0.04%
Leidos HoldingsLDOS	VSLU +0.08 points	<0.01%	0.08%
Allstate Corp.ALL	VSLU +0.08 points	0.17%	0.25%
Broadridge Financial SoluBR	VSLU +0.07 points	0.02%	0.09%
Newmont CorpNEM	DFAL +0.08 points	0.24%	0.16%
Fifth Third BancorpFITB	DFAL +0.08 points	0.09%	0.01%

All DFAL holdings⁠All VSLU 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 VSLU Cost

Overpaying VSLU vs DFAL

$7,272

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

DFAL 0.12%
$2,520
VSLU 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

DFAL 0.12%
VSLU 0.49%
Overpaying

Year by year

Year	DFAL	VSLU	Overpaying
10	$220	$883	$663
20	$859	$3,394	$2,535
30	$2,520	$9,792	$7,272

Expense ratio

0.12%DFAL, cheaper
0.49%VSLU

DFAL0.12%VSLU0.49%

0.12%0.85%

Middle half of US Active Contrarian Value funds
Median 0.54%

DFAL cheapest of 8 funds

VSLU 4th cheapest of 8 funds

DFAL vs VSLU Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFAL No data; VSLU 0.42%
Payout (12M): DFAL No data; VSLU $0.20
Last payment: DFAL $0.09; VSLU $0.20
Ex-dividend: DFAL Sep 22, 2026; VSLU Dec 24, 2025
Paid on: DFAL Sep 24, 2026; VSLU Dec 26, 2025
Frequency: DFAL Irregular; VSLU Annual

Distribution history

Per share, 2021 to 2026, same scale for both

DFALIrregular · 1 paymentAll DFAL payments⁠

VSLUAnnual · 5 paymentsAll VSLU payments⁠

DFAL vs VSLU Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFAL No dataVSLU 11.6%
Return per unit of riskSharpe ratio, 3 years: DFAL No dataVSLU 1.53
Worst fallMax drawdown, 5 years: DFAL No dataVSLU −23.9%
Market sensitivityBeta, 5 years: DFAL 0.90VSLU 0.95; Market = 1

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