DFAU vs LCDS: Grades, Fees and Holdings Compared

Dimensional US Core Equity Market ETF

DFAUANYSE Arca

JPMorgan Fundamental Data Science Large Core ETF

LCDSBNasdaq

Overlap

51.7%by weight

Expense ratio

DFAU −0.18pt a year

DFAU0.12%LCDS0.30%

Avg volume · 30D

DFAU 868.2×the volume

DFAU555KLCDS639

DFAU vs LCDS Performance

Oct 31, 2025 – Oct 30, 2026

+13.2%DFAU+13.1%LCDS

Expense ratio: DFAU 0.12%, better; LCDS 0.30%
Fund size: DFAU $12.9B; LCDS $16M
1Y total return: DFAU +13.2%, better; LCDS +13.1%
Yield (12M): DFAU 0.90%, better; LCDS 0.86%
Holdings: DFAU 2165; LCDS 113
Avg volume (30D): DFAU 555K sh, better; LCDS 639 sh
NAV per share: DFAU $52.28; LCDS $73.00
52W range

ETF.net Grade

Pillar letters and Scores for DFAU, LCDS, with each pillar’s weight
Pillar	DFAU	LCDS
Cost30% weight	A97Higher	A83
Mission25% weight	A83Higher	A81
Risk15% weight	B65Higher	B60
Tradability15% weight	A87Higher	F9
Holdings10% weight	A84Higher	B63
Durability5% weight	A91Higher	C40

Rank among US Active Equity funds

How we build Categories ›

Same Category. DFAU and LCDS are both graded against the same 121 US Active Equity funds, so their Grades compare head to head.

US Active Equity⁠

Category · 121 funds

See all 121 ›

DFAU ranks 2nd and LCDS 48th of 121 funds in the US Active Equity Category.

Rank 1AAVLCAvantis U.S. Large Cap Equity ETFScore 87
Rank 2ADFAUDimensional US Core Equity Market ETFScore 86
Rank 3ADFACDimensional US Core Equity 2 ETFScore 85
Rank 48BBROLBaron Risk Optimized Large Cap ETFScore 58
Rank 48BLCDSJPMorgan Fundamental Data Science Large Core ETFScore 58
Rank 48BPFDEPathfinder Disciplined US Equity ETFScore 58

Our read on each fund

ETF.net Research

DFAUADimensional US Core Equity Market ETF

LCDSBJPMorgan Fundamental Data Science Large Core ETF

In short

DFAU Active management priced like an index fund. Dimensional spreads across roughly 2,400 US stocks, then tilts the weights toward value, profitability and momentum instead of simply mirroring the Russell 3000.

LCDS J.P. Morgan aims its human stock analysts at a data-science engine and builds a roughly 110-stock alternative to the S&P 500 from what comes out. Active large-cap core, priced at 0.30%, well under the usual active tab.

Stated mandate

DFAU Seeks long-term capital appreciation. It uses an integrated research, portfolio-design, management, and trading process to build a broadly diversified portfolio of U.S. companies while balancing long-term return drivers, risk, shorter-term considerations, and trading costs.

LCDS The fund seeks long-term capital appreciation by investing primarily in equity securities of large, established companies. Its approach combines fundamental research, data insights, and risk management to assess financial prospects and relative valuation.

Why people hold it

DFAU Charges 0.12% a year, well under the 0.65% median for active US equity funds and the cheapest of the top-graded names in its group (AVLC, DFAC, FELC).
Holds roughly 2,400 US companies, so no single name steers the fund. Whole-market coverage, not a concentrated bet.
Active without the stock-picking drama: it leans weights toward value, profitability and momentum, using the Russell 3000 as its reference point rather than a rigid rulebook.
A multi-billion-dollar fund that trades actively, and one of the strongest overall implementations in its active US equity peer group.

LCDS 0.30% a year, under half the 0.65% median for active US equity funds and cheaper than most active funds run against the S&P 500 (HELO 0.50%, JPEF 0.44%, TSPA 0.34%).
Roughly 110 stocks instead of 500: concentrated enough for analyst picks to register, still recognizably large-cap core.
The method is spelled out in the fund's own documents: fundamental research, data insights and risk management applied to large, established companies.jpmorgan.com
Sits in the upper tier of the active US equity funds we cover, helped by a cost structure closer to index products than to stockpickers.

Worth knowing

DFAU Those tilts cut both ways: results can drift from a plain Russell 3000 fund for long stretches, in either direction.
No published index behind it. The trade-off for flexibility is that you're buying Dimensional's process, not a public set of rules you can check line by line.
Distributions land quarterly, not monthly, and the mandate is long-term capital appreciation rather than income.

LCDS Thinly traded with a small asset base, so spreads tend to be wider than at the giant index funds it competes with.
Launched in August 2024, so there is not yet a long record covering different market environments.
The mandate is long-term capital appreciation, not income; distributions arrive quarterly.

Full DFAU profile⁠

Full LCDS profile⁠

DFAU vs LCDS Holdings

How DFAU and LCDS differ

Overlap by weight

51.7%

Shared holdings make up 96.5% of LCDS and 54.0% of DFAU.

Level by level

Holdings103 in both51.7%
Countryby domicile99.3%
Asset classEquity100%

Sector

No Sector split for LCDS.

Country, concentration and asset class

Country by domicile

Country weights in DFAU and LCDS, widest gap first
Country	More in DFAUMore in LCDS	DFAU	LCDS
United States	LCDS +0.2 points	99.3%	99.5%
Netherlands	LCDS +0.5 points	0.0%	0.5%
Switzerland	DFAU +0.3 points	0.3%	0.0%
China	DFAU +0.1 points	0.1%	0.0%
United Kingdom	DFAU +0.1 points	0.1%	0.0%
Mexico	DFAU +0.1 points	0.1%	0.0%
Ireland	Same weight	0.0%	0.0%
Brazil	Same weight	0.0%	0.0%
Other countries (4)	DFAU +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

DFAU33.4%
LCDS42.4%

Securities held

DFAU2,164
LCDS111

Asset class

DFAU: Equity
LCDS: Equity

Holdings

Only in DFAU2,061
In both103
Only in LCDS8

Only in DFAU

2,061 securities, 45.9% of DFAU by weight

Alphabet Inc1.76%
JPMorgan Chase & Co1.21%
Visa Inc0.96%
Chevron Corp.0.56%
Cisco Systems Inc.0.54%
Merck & Company Inc0.53%
Home Depot Inc0.46%
Applied Materials Inc.0.39%
General Electric Company0.38%
Amgen Inc0.36%
International Business Ma0.36%
Texas Instruments Inc.0.36%
Caterpillar Inc.0.35%
Goldman Sachs Group Inc.0.35%
Verizon Communications0.30%
Gilead Sciences Inc0.30%
Qualcomm Inc.0.29%
Kla Corp0.29%
Union Pac Corp.0.25%
Citigroup Inc.0.24%
Western Digital0.24%
Palo Alto Networks Inc0.20%
Lockheed Martin Corp.0.20%
Pfizer Inc.0.19%
Travelers Companies Inc.0.19%
Phillips 660.19%
BlackRock Funding Inc/De0.18%
Marathon Petroleum Corp.0.18%
Abbott Laboratories0.18%
Newmont Corp0.18%
Accenture PLC0.17%
Dell Technologies Inc0.17%
Valero Energy Corp0.17%
General Motors0.17%
Johnson Controls Intl0.17%
Danaher Corp.0.16%
Intercontinental Exchange0.16%
S&P Global Inc0.16%
Royal Caribbean Cruises0.16%
Chubb Limited0.15%
Synopsys Inc0.15%
Emerson Elec Co0.15%
Slb Ltd0.15%
Capital One Financial0.15%
Allstate Corp.0.15%
Target Corp.0.15%
Ecolab Inc0.15%
Altria Group Inc.0.15%
Illinois Tool Works Inc.0.14%
Sherwin-Williams Co0.14%

Only in LCDS

8 securities, 3.5% of LCDS by weight

Trane Technologies PLC0.69%
Digital Realty Trust Inc0.54%
Prologis Inc Reit USD0.53%
Asml Holding NV Ny Reg0.44%
American Tower Corp Reit0.44%
Ventas Inc Reit USD 0.250.42%
JPMorgan Prime Money0.32%
Fidelity National0.15%

Weight gaps

The 100 widest of 103 Holdings in both funds.

Holding weights in DFAU and LCDS, widest gap first
Holding	More in DFAUMore in LCDS	DFAU	LCDS
Alphabet Inc - Class AGOOGL	LCDS +2.08 points	2.14%	4.22%
Wells Fargo & Co.WFC	LCDS +1.77 points	0.34%	2.11%
NVIDIA CorpNVDA	LCDS +1.51 points	6.79%	8.30%
Mastercard Inc - AMA	LCDS +1.20 points	0.69%	1.89%
Microsoft CorpMSFT	LCDS +1.12 points	5.62%	6.74%
Csx CorpCSX	LCDS +1.11 points	0.17%	1.28%
Exxonmobil Holdings CorpXOM	LCDS +1.10 points	1.07%	2.17%
AbbVie Inc.ABBV	LCDS +1.05 points	0.61%	1.66%
Philip Morris IntlPM	LCDS +1.00 points	0.37%	1.37%
Amazon.com Inc.AMZN	LCDS +0.95 points	3.14%	4.09%
ConocophillipsCOP	LCDS +0.80 points	0.28%	1.08%
Eog Resources Inc.EOG	LCDS +0.80 points	0.19%	0.99%
Meta Platforms IncMETA	LCDS +0.79 points	1.78%	2.57%
Rtx CorpRTX	LCDS +0.78 points	0.31%	1.09%
Bank of America CorpBAC	LCDS +0.73 points	0.39%	1.12%
American Express Co.AXP	LCDS +0.72 points	0.26%	0.98%
Seagate Technology HoldSTX	LCDS +0.68 points	0.21%	0.89%
Thermo Fisher Scientific.TMO	LCDS +0.68 points	0.27%	0.95%
Lowe's Cos IncLOW	LCDS +0.67 points	0.13%	0.80%
Howmet Aerospace IncHWM	LCDS +0.66 points	0.09%	0.75%
Apple Inc.AAPL	LCDS +0.65 points	7.10%	7.75%
Bristol-Myers Squibb Co.BMY	LCDS +0.63 points	0.21%	0.84%
Regeneron PharmaceuticalsREGN	LCDS +0.63 points	0.13%	0.76%
Micron Technology Inc.MU	LCDS +0.61 points	1.62%	2.23%
The Southern CompanySO	LCDS +0.60 points	0.12%	0.72%
Lam Research CorpLRCX	LCDS +0.58 points	0.36%	0.94%
Hewlett-Packard EnterprisHPE	LCDS +0.58 points	0.16%	0.74%
UnitedHealth Group Inc.UNH	LCDS +0.57 points	0.40%	0.97%
Mondelez IntlMDLZ	LCDS +0.56 points	0.15%	0.71%
3M Co.MMM	LCDS +0.54 points	0.16%	0.70%
Progressive CorpPGR	LCDS +0.54 points	0.18%	0.72%
Dover CorpDOV	LCDS +0.52 points	0.05%	0.57%
Hilton Worldwide HoldHLT	LCDS +0.52 points	0.13%	0.65%
Cme Group Inc.CME	LCDS +0.52 points	0.11%	0.63%
Deere & Co.DE	LCDS +0.51 points	0.20%	0.71%
Crowdstrike Holdings IncCRWD	LCDS +0.51 points	0.14%	0.65%
Stryker CorpSYK	LCDS +0.50 points	0.12%	0.62%
Northrop Grumman Corp.NOC	LCDS +0.49 points	0.14%	0.63%
Nxp Semiconductors NVNXPI	LCDS +0.48 points	0.13%	0.61%
Medtronic PLCMDT	LCDS +0.47 points	0.15%	0.62%
Entergy CorpETR	LCDS +0.47 points	0.08%	0.55%
The Charles Schwab Corp.SCHW	LCDS +0.46 points	0.17%	0.63%
Morgan StanleyMS	LCDS +0.45 points	0.29%	0.74%
Amphenol Corp Class AAPH	LCDS +0.44 points	0.25%	0.69%
Walt Disney Co/TheDIS	LCDS +0.44 points	0.22%	0.66%
Cms Energy Corp.CMS	LCDS +0.44 points	0.03%	0.47%
Nextera Energy IncNEE	LCDS +0.42 points	0.20%	0.62%
Analog Devices Inc.ADI	LCDS +0.43 points	0.24%	0.67%
Performance Food Group CoPFGC	LCDS +0.40 points	0.03%	0.43%
Advanced Micro DevicesAMD	LCDS +0.40 points	1.02%	1.42%
Eaton Corp PLCETN	LCDS +0.40 points	0.17%	0.57%
Mcdonald's Corp.MCD	LCDS +0.39 points	0.21%	0.60%
Berkshire Hathaway Cl-BBRK.B	DFAU +0.38 points	1.15%	0.77%
State Street Corp.STT	LCDS +0.37 points	0.08%	0.45%
Johnson & JohnsonJNJ	DFAU +0.37 points	0.78%	0.41%
Ameriprise Financial IncAMP	LCDS +0.36 points	0.09%	0.45%
Autozone Inc.AZO	LCDS +0.34 points	0.08%	0.42%
Metlife Inc.MET	LCDS +0.34 points	0.13%	0.47%
Bj's Wholesale Club HoldiBJ	LCDS +0.32 points	0.03%	0.35%
Axalta Coating Systems LtAXTA	LCDS +0.31 points	0.02%	0.33%
Ge Vernova LlcGEV	LCDS +0.30 points	0.20%	0.50%
First Citizens BancsharesFCNCA	LCDS +0.30 points	0.04%	0.34%
Edwards Lifescience Corp.EW	LCDS +0.29 points	0.08%	0.37%
Tjx Companies Inc.TJX	LCDS +0.29 points	0.20%	0.49%
Vulcan Materials Co.VMC	LCDS +0.28 points	0.06%	0.34%
Elanco Animal Health IncELAN	LCDS +0.28 points	0.02%	0.30%
Vertex PharmaceuticalsVRTX	LCDS +0.27 points	0.15%	0.42%
Cognizant Tech SolutionsCTSH	LCDS +0.27 points	0.05%	0.32%
Chipotle Mexican GrillCMG	LCDS +0.26 points	0.05%	0.31%
Intuit Inc.INTU	LCDS +0.26 points	0.03%	0.29%
Procter & Gamble Co/ThePG	DFAU +0.26 points	0.52%	0.26%
Intel CorpINTC	DFAU +0.26 points	0.48%	0.22%
Corpay IncCPAY	LCDS +0.26 points	0.05%	0.31%
Salesforce IncCRM	LCDS +0.25 points	0.24%	0.49%
Cigna Group/TheCI	LCDS +0.25 points	0.15%	0.40%
Eli Lilly and CompanyLLY	LCDS +0.23 points	1.45%	1.68%
AT&T Inc.T	LCDS +0.24 points	0.19%	0.43%
Blackstone IncBX	LCDS +0.23 points	0.08%	0.31%
Walmart Inc.WMT	DFAU +0.22 points	0.68%	0.46%
Textron IncTXT	LCDS +0.22 points	0.03%	0.25%
Leidos HoldingsLDOS	LCDS +0.21 points	0.04%	0.25%
Pepsico Inc.PEP	LCDS +0.20 points	0.25%	0.45%
Ups Inc. Class BUPS	LCDS +0.19 points	0.13%	0.32%
Costco Wholesale Corp.COST	DFAU +0.18 points	0.48%	0.30%
Arthur J Gallagher & CoAJG	LCDS +0.18 points	0.10%	0.28%
Dupont De Nemours IncDD	LCDS +0.18 points	0.03%	0.21%
Oracle Corp.ORCL	DFAU +0.17 points	0.38%	0.21%
Qnity Electronics IncQ	LCDS +0.17 points	0.04%	0.21%
Sandisk Corp/DeSNDK	DFAU +0.16 points	0.27%	0.11%
Broadcom IncAVGO	LCDS +0.14 points	2.04%	2.18%
Cadence Design SystemsCDNS	LCDS +0.14 points	0.09%	0.23%
Spotify Technology SASPOT	LCDS +0.13 points	0.07%	0.20%
New Linde PLCLIN	DFAU +0.11 points	0.30%	0.19%
Roper Technologies IncROP	LCDS +0.11 points	0.06%	0.17%
Coca Cola Co.KO	DFAU +0.08 points	0.46%	0.38%
Auto DeskADSK	LCDS +0.08 points	0.09%	0.17%
Corning IncGLW	LCDS +0.07 points	0.10%	0.17%
Tesla IncTSLA	LCDS +0.08 points	1.35%	1.43%
Netflix.com Inc.NFLX	DFAU +0.05 points	0.24%	0.19%
Palantir Technologies IncPLTR	DFAU +0.03 points	0.40%	0.37%

All 2,381 DFAU holdings⁠All 111 LCDS 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.

DFAU vs LCDS Cost

Overpaying LCDS vs DFAU

$3,629

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

DFAU 0.12%
$2,520
LCDS 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

DFAU 0.12%
LCDS 0.30%
Overpaying

Year by year

Year	DFAU	LCDS	Overpaying
10	$220	$545	$325
20	$859	$2,113	$1,254
30	$2,520	$6,149	$3,629

Expense ratio

0.12%DFAU, cheaper
0.30%LCDS

DFAU0.12%LCDS0.30%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

DFAU 4th cheapest of 121 funds

LCDS 21st cheapest of 121 funds

DFAU vs LCDS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFAU 0.90%, better; LCDS 0.86%
Payout (12M): DFAU $0.47; LCDS $0.63
Last payment: DFAU $0.12; LCDS $0.17
Ex-dividend: DFAU Sep 22, 2026; LCDS Sep 22, 2026
Paid on: DFAU Sep 24, 2026; LCDS Sep 24, 2026
Frequency: DFAU Quarterly; LCDS Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

DFAUQuarterly · 24 paymentsAll DFAU payments⁠

LCDSQuarterly · 9 paymentsAll LCDS payments⁠

DFAU vs LCDS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFAU 12.4%LCDS 11.9%since Sep 2024
Return per unit of riskSharpe ratio, 3 years: DFAU 1.38LCDS 0.95since Sep 2024
Worst fallMax drawdown, 5 years: DFAU −23.6%LCDS −18.4%since Aug 2024
Market sensitivityBeta, 5 years: DFAU 1.01LCDS 0.94; Market = 1

Popular comparisons

DFAUAvsAVLCA
Dimensional US Core Equity Market ETF · Avantis U.S. Large Cap Equity ETF
Expense ratio
0.12% · 0.15%
Category
LCDSBvsAVLCA
JPMorgan Fundamental Data Science Large Core ETF · Avantis U.S. Large Cap Equity ETF
Expense ratio
0.30% · 0.15%
Category
DFAUAvsDFACA
Dimensional US Core Equity Market ETF · Dimensional US Core Equity 2 ETF
Expense ratio
0.12% · 0.17%
Category
LCDSBvsDFACA
JPMorgan Fundamental Data Science Large Core ETF · Dimensional US Core Equity 2 ETF
Expense ratio
0.30% · 0.17%
Category
DFAUAvsDYNFA
Dimensional US Core Equity Market ETF · iShares U.S. Equity Factor Rotation Active ETF
Expense ratio
0.12% · 0.26%
Category
LCDSBvsDYNFA
JPMorgan Fundamental Data Science Large Core ETF · iShares U.S. Equity Factor Rotation Active ETF
Expense ratio
0.30% · 0.26%
Category