DFAU vs LDRX: Grades, Fees and Holdings Compared

Dimensional US Core Equity Market ETF

DFAUANYSE Arca

SGI Enhanced Market Leaders ETF

LDRXCNasdaq

Overlap

60.2%by weight

Expense ratio

DFAU −0.47pt a year

DFAU0.12%LDRX0.59%

Avg volume · 30D

DFAU 109.0×the volume

DFAU547KLDRX5.02K

DFAU vs LDRX Performance

Nov 7, 2025 – Nov 9, 2026

+14.5%DFAU+11.1%LDRX

Expense ratio: DFAU 0.12%, better; LDRX 0.59%
Fund size: DFAU $12.6B; LDRX $243M
1Y total return: DFAU +14.5%, better; LDRX +11.1%
Yield (12M): DFAU 0.91%; LDRX 1.00%, better
Holdings: DFAU 2163; LDRX 101
Avg volume (30D): DFAU 547K sh, better; LDRX 5.02K sh
NAV per share: DFAU $50.91; LDRX $34.85
52W range

ETF.net Grade

Pillar letters and Scores for DFAU, LDRX, with each pillar’s weight
Pillar	DFAU	LDRX
Cost30% weight	A97Higher	B57
Mission25% weight	A84	Not scored
Risk15% weight	B63Higher	C52
Tradability15% weight	A87Higher	D35
Holdings10% weight	A84Higher	C45
Durability5% weight	A91Higher	B61

Rank among US Active Equity funds

How we build Categories ›

Same Category. DFAU and LDRX 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 LDRX 61st 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 61CBCHPPrincipal Focused Blue Chip ETFScore 50
Rank 61CLDRXSGI Enhanced Market Leaders ETFScore 50
Rank 61CSSUSStrategy Shares Day Hagan Smart Sector ETFScore 50

Our read on each fund

ETF.net Research

DFAUADimensional US Core Equity Market ETF

LDRXCSGI Enhanced Market Leaders 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.

LDRX A 1976 swap fund reborn: the Chestnut Street Exchange Fund was reorganized into this active ETF in 2025. Large-cap "market leaders" plus an overlay that sells deep out-of-the-money puts and calls expiring in 1-7 days, for 0.59% a year.

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.

LDRX Seeks capital appreciation and current income. It actively manages a portfolio concentrated in large-capitalization companies and uses short-dated, deep-out-of-the-money put and call writing to generate additional income.

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.

LDRX 0.59% a year, gross and net, no waiver doing the work. That sits below the median fee for active US equity funds.
The overlay writes deep out-of-the-money puts and calls expiring in 1-7 days, collecting premium on contracts meant to expire worthless. Pays quarterly.sec.gov
Real pedigree: the 1976 Chestnut Street Exchange Fund, a California limited partnership, became this ETF in a 2025 reorganization structured as tax-free.sec.gov sec.gov 2
The stock sleeve keeps at least 80% in Russell 1000 or S&P 500 names, screened on earnings quality, debt and valuation.sec.gov

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.

LDRX One of the more thinly traded funds in its peer group, which can show up as wider bid-ask spreads.
Short calls trim upside in a fast rally; short puts add exposure in a sharp drop. Deep strikes make that less likely, not impossible.sec.gov
The current strategy only began in May 2025, so the live record is short and earlier returns came from the predecessor's different approach.sec.gov

Full DFAU profile⁠

Full LDRX profile⁠

DFAU vs LDRX Holdings

How DFAU and LDRX differ

Overlap by weight

60.2%

Shared holdings make up 99.5% of LDRX and 60.2% of DFAU.

Level by level

Holdings97 in both60.2%
Sector11 Sectors87.2%
Countryby domicile99.3%
Asset classStocks100%

Sector

Sector weights in DFAU and LDRX, widest gap first
Sector	Gap	DFAU	LDRX
Technology	LDRX +8.7 points	34.7%	43.4%
Industrials	DFAU +4.8 points	9.3%	4.5%
Communication	LDRX +4.0 points	7.8%	11.8%
Financials	DFAU +1.9 points	13.6%	11.7%
Energy	DFAU +1.8 points	4.5%	2.7%
Materials	DFAU +1.8 points	2.3%	0.5%
Utilities	DFAU +1.4 points	2.2%	0.8%
Consumer Staples	DFAU +0.6 points	5.0%	4.4%
Health Care	DFAU +0.2 points	10.3%	10.1%
Consumer Discretionary	DFAU +0.2 points	10.2%	10.0%
Real Estate	LDRX +0.1 points	0.1%	0.2%

Country, concentration and asset class

Country by domicile

Country weights in DFAU and LDRX, widest gap first
Country	More in DFAUMore in LDRX	Gap	DFAU	LDRX
United States		LDRX +0.7 points	99.3%	100.0%
Other countries (10)		DFAU +0.7 points	0.7%	0.0%

Concentration

Weight in the 10 largest Holdings

DFAU33.3%
LDRX54.3%

Securities held

DFAU2,161
LDRX101

Asset class

DFAU: Stocks
LDRX: Stocks

Holdings

Only in DFAU2,064
In both97
Only in LDRX4

Only in DFAU

2,064 securities, 39.6% of DFAU by weight

Alphabet Inc1.85%
Philip Morris Intl0.37%
Kla Corp0.25%
Amphenol Corp Class A0.23%
Analog Devices Inc.0.21%
Tjx Companies Inc.0.20%
Newmont Corp0.20%
Travelers Companies Inc.0.20%
Eog Resources Inc.0.18%
Progressive Corp0.18%
Intercontinental Exchange0.18%
Phillips 660.17%
Royal Caribbean Cruises0.17%
S&P Global Inc0.17%
Motorola Solutions Inc.0.17%
Marathon Petroleum Corp.0.17%
Western Digital0.16%
Csx Corp0.16%
Target Corp.0.16%
Chubb Limited0.16%
Valero Energy Corp0.16%
Sherwin-Williams Co0.16%
Automatic Data Processing0.16%
Vertex Pharmaceuticals0.16%
Eaton Corp PLC0.15%
Allstate Corp.0.15%
Cintas Corp.0.15%
Ecolab Inc0.15%
Cigna Group/The0.15%
Altria Group Inc.0.15%
Illinois Tool Works Inc.0.15%
Regeneron Pharmaceuticals0.15%
Aon PLC0.15%
Marriott Intl Class A0.15%
Slb Ltd0.15%
Johnson Controls Intl0.15%
Mckesson Corp.0.15%
Synopsys Inc0.15%
Marsh & Mclennan Cos Inc0.14%
Seagate Technology Hold0.14%
Republic Services Inc0.14%
Moody's Corporation0.14%
Parker-Hannifin Corp0.14%
Ross Stores Inc.0.14%
Northrop Grumman Corp.0.14%
Hilton Worldwide Hold0.14%
Waste Management Inc.0.14%
Occidental Petroleum Corp0.13%
Metlife Inc.0.13%
Hewlett-Packard Enterpris0.13%

Only in LDRX

4 securities, 0.8% of LDRX by weight

iShares S&P 100 ETF0.52%
American Tower Corp0.19%
First American Government Obligations Fund0.09%
Spy Us 11/13/26 P5700.05%

Weight gaps

All 97 Holdings in both funds, largest gap first.

Holding weights in DFAU and LDRX, widest gap first
Holding	Gap	DFAU	LDRX
Alphabet Inc - Class AGOOGL	LDRX +4.54 points	2.24%	6.78%
NVIDIA CorpNVDA	LDRX +3.68 points	6.20%	9.88%
Apple Inc.AAPL	LDRX +3.56 points	7.27%	10.82%
Microsoft CorpMSFT	LDRX +2.64 points	5.86%	8.50%
Amazon.com Inc.AMZN	LDRX +2.17 points	3.49%	5.66%
Broadcom IncAVGO	LDRX +1.29 points	1.81%	3.10%
Meta Platforms IncMETA	LDRX +1.10 points	1.82%	2.92%
Berkshire Hathaway Cl-BBRK.B	LDRX +0.98 points	1.27%	2.25%
Tesla IncTSLA	LDRX +0.88 points	1.26%	2.14%
Eli Lilly and CompanyLLY	LDRX +0.78 points	1.49%	2.27%
JPMorgan Chase & CoJPM	LDRX +0.75 points	1.23%	1.98%
Advanced Micro DevicesAMD	LDRX +0.73 points	0.84%	1.57%
Johnson & JohnsonJNJ	LDRX +0.59 points	0.82%	1.41%
Visa IncV	LDRX +0.50 points	1.03%	1.53%
AbbVie Inc.ABBV	LDRX +0.47 points	0.63%	1.10%
Walmart Inc.WMT	LDRX +0.44 points	0.74%	1.18%
Palantir Technologies IncPLTR	LDRX +0.44 points	0.34%	0.78%
Micron Technology Inc.MU	LDRX +0.43 points	1.25%	1.68%
Costco Wholesale Corp.COST	LDRX +0.43 points	0.53%	0.96%
Mastercard Inc - AMA	LDRX +0.42 points	0.74%	1.16%
Exxonmobil Holdings CorpXOM	LDRX +0.41 points	1.01%	1.42%
UnitedHealth Group Inc.UNH	LDRX +0.39 points	0.40%	0.79%
Chevron Corp.CVX	LDRX +0.35 points	0.54%	0.89%
Palo Alto Networks IncPANW	LDRX +0.35 points	0.17%	0.52%
Bank of America CorpBAC	LDRX +0.32 points	0.40%	0.72%
Cisco Systems Inc.CSCO	LDRX +0.32 points	0.49%	0.81%
General Electric CompanyGE	LDRX +0.31 points	0.41%	0.72%
Netflix.com Inc.NFLX	LDRX +0.29 points	0.26%	0.55%
Intel CorpINTC	LDRX +0.27 points	0.31%	0.58%
Coca Cola Co.KO	LDRX +0.27 points	0.49%	0.76%
Ge Vernova LlcGEV	LDRX +0.27 points	0.18%	0.45%
Thermo Fisher Scientific.TMO	LDRX +0.25 points	0.28%	0.53%
Home Depot IncHD	LDRX +0.25 points	0.50%	0.75%
Procter & Gamble Co/ThePG	LDRX +0.24 points	0.56%	0.80%
Goldman Sachs Group Inc.GS	LDRX +0.25 points	0.34%	0.59%
Caterpillar Inc.CAT	LDRX +0.24 points	0.32%	0.56%
Rtx CorpRTX	LDRX +0.24 points	0.31%	0.55%
Lam Research CorpLRCX	LDRX +0.24 points	0.29%	0.53%
Applied Materials Inc.AMAT	LDRX +0.23 points	0.32%	0.55%
Wells Fargo & Co.WFC	LDRX +0.24 points	0.35%	0.59%
Citigroup Inc.C	LDRX +0.23 points	0.24%	0.47%
Merck & Company IncMRK	LDRX +0.21 points	0.56%	0.77%
Morgan StanleyMS	LDRX +0.21 points	0.29%	0.50%
Texas Instruments Inc.TXN	LDRX +0.20 points	0.33%	0.53%
Abbott LaboratoriesABT	LDRX +0.20 points	0.20%	0.40%
Intuitive Surgical Inc.ISRG	LDRX +0.20 points	0.15%	0.35%
Walt Disney Co/TheDIS	LDRX +0.20 points	0.24%	0.44%
Mcdonald's Corp.MCD	LDRX +0.20 points	0.23%	0.43%
The Charles Schwab Corp.SCHW	LDRX +0.18 points	0.18%	0.36%
BlackRock Funding Inc/DeBLK	LDRX +0.18 points	0.19%	0.37%
Arista Networks IncANET	LDRX +0.18 points	0.20%	0.38%
Nextera Energy IncNEE	LDRX +0.17 points	0.22%	0.39%
Boeing Co/TheBA	LDRX +0.16 points	0.14%	0.30%
New Linde PLCLIN	LDRX +0.15 points	0.32%	0.47%
Intuit Inc.INTU	LDRX +0.15 points	0.03%	0.18%
Accenture PLCACN	LDRX +0.15 points	0.19%	0.34%
International Business MaIBM	LDRX +0.15 points	0.35%	0.50%
Comcast Corp New Class ACMCSA	LDRX +0.14 points	0.06%	0.20%
Deere & Co.DE	LDRX +0.14 points	0.22%	0.36%
Servicenow IncNOW	LDRX +0.14 points	0.09%	0.23%
Danaher Corp.DHR	LDRX +0.14 points	0.17%	0.31%
Pfizer Inc.PFE	LDRX +0.14 points	0.20%	0.34%
Salesforce IncCRM	LDRX +0.14 points	0.23%	0.37%
Capital One FinancialCOF	LDRX +0.13 points	0.15%	0.28%
Starbucks CorpSBUX	LDRX +0.13 points	0.14%	0.27%
Oracle Corp.ORCL	LDRX +0.13 points	0.33%	0.46%
Pepsico Inc.PEP	LDRX +0.13 points	0.27%	0.40%
Gilead Sciences IncGILD	LDRX +0.13 points	0.31%	0.44%
Uber Technologies IncUBER	LDRX +0.12 points	0.14%	0.26%
Medtronic PLCMDT	LDRX +0.12 points	0.17%	0.29%
Lowe's Cos IncLOW	LDRX +0.11 points	0.15%	0.26%
American Express Co.AXP	LDRX +0.11 points	0.27%	0.38%
Cvs Health CorpCVS	LDRX +0.12 points	0.13%	0.25%
Amgen IncAMGN	LDRX +0.12 points	0.37%	0.49%
Booking Holdings IncBKNG	LDRX +0.11 points	0.14%	0.25%
Duke Energy Corp.DUK	LDRX +0.10 points	0.12%	0.22%
Dell Technologies IncDELL	LDRX +0.10 points	0.12%	0.22%
AT&T Inc.T	LDRX +0.10 points	0.21%	0.31%
Union Pac Corp.UNP	LDRX +0.10 points	0.25%	0.35%
Qualcomm Inc.QCOM	LDRX +0.10 points	0.27%	0.37%
General Dynamics Corp.GD	LDRX +0.10 points	0.09%	0.19%
Sandisk Corp/DeSNDK	LDRX +0.08 points	0.18%	0.26%
The Southern CompanySO	LDRX +0.09 points	0.12%	0.21%
Verizon CommunicationsVZ	LDRX +0.08 points	0.33%	0.41%
U.s. BancorpUSB	LDRX +0.08 points	0.13%	0.21%
Bank of New York MellonBNY	LDRX +0.07 points	0.14%	0.21%
Adobe IncADBE	LDRX +0.06 points	0.11%	0.17%
Ups Inc. Class BUPS	LDRX +0.05 points	0.14%	0.19%
ConocophillipsCOP	LDRX +0.06 points	0.27%	0.33%
Bristol-Myers Squibb Co.BMY	LDRX +0.05 points	0.22%	0.27%
Lockheed Martin Corp.LMT	LDRX +0.05 points	0.18%	0.23%
Emerson Elec CoEMR	LDRX +0.04 points	0.15%	0.19%
T-Mobile Us IncTMUS	LDRX +0.03 points	0.12%	0.15%
3M Co.MMM	LDRX +0.03 points	0.17%	0.20%
Fedex CorpFDX	LDRX +0.01 points	0.14%	0.15%
Mondelez IntlMDLZ	LDRX +0.01 points	0.16%	0.17%
General MotorsGM	Same weight	0.17%	0.17%

All 2,381 DFAU holdings⁠All LDRX 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 LDRX Cost

Overpaying LDRX vs DFAU

$9,115

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

DFAU 0.12%
$2,520
LDRX 0.59%
$11,635

Amount$10,000

Years30 years

Cost over time

DFAU 0.12%
LDRX 0.59%
Overpaying

Year by year

Year	DFAU	LDRX	Overpaying
10	$220	$1,058	$838
20	$859	$4,051	$3,192
30	$2,520	$11,635	$9,115

Expense ratio

0.12%DFAU, cheaper
0.59%LDRX

DFAU0.12%LDRX0.59%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

DFAU 4th cheapest of 121 funds

LDRX 54th cheapest of 121 funds

DFAU vs LDRX Dividends

Last 12 months to Nov 9, 2026

Yield (12M): DFAU 0.91%; LDRX 1.00%, better
Payout (12M): DFAU $0.47; LDRX $0.36
Last payment: DFAU $0.12; LDRX $0.04
Ex-dividend: DFAU Sep 22, 2026; LDRX Sep 28, 2026
Paid on: DFAU Sep 24, 2026; LDRX Sep 29, 2026
Frequency: DFAU Quarterly; LDRX Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

DFAUQuarterly · 24 paymentsAll DFAU payments⁠

LDRXQuarterly · 6 paymentsAll LDRX payments⁠

DFAU vs LDRX 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%LDRX 14.0%since Jun 2025
Return per unit of riskSharpe ratio, 3 years: DFAU 1.38LDRX 1.17since Jun 2025
Worst fallMax drawdown, 5 years: DFAU −23.6%LDRX −10.6%since May 2025
Market sensitivityBeta, 5 years: DFAU 1.01LDRX 1.16; Market = 1

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