DFAU vs TEXX

DFAUADimensional US Core Equity Market ETF

TEXXDHorizon Kinetics Texas 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.

TEXX Texas, hand-picked. Horizon Kinetics runs its state fund actively and non-diversified, leaning on its own value and real-asset research across oil, gas and land instead of screening for a headquarters address.

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.

TEXX The Fund seeks long-term growth of capital.

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.

• TEXX Stock-picked, not screened: at least 80% of net assets go to Texas companies chosen by Horizon Kinetics, with position sizes set by conviction rather than index weights.horizonkinetics.comyahoo.com
• A house style you can read in advance: the seventh active ETF Horizon Kinetics has launched since 2021, from a shop that describes its process as long-term, fundamentals-based and value-oriented.yahoo.com
• The portfolio's center of gravity is oil and gas exploration and production, so it tracks the Permian engine more closely than a broad slice of the Texas economy.

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.

• TEXX Costs 0.85% a year against a 0.65% median for active US equity ETFs in its peer group. The stock picking carries that gap.
• Non-diversified and single-state, with an energy lean, so moves can run sharper in both directions than a broad US equity fund.yahoo.comusnews.com
• Launched in 2026: short track record, small asset base, light trading that can widen bid-ask spreads, and a growth-of-capital mandate rather than an income one.

Full DFAU profile⁠

Full TEXX profile⁠