DFAU vs XCHG: Grades, Fees and Holdings Compared

Dimensional US Core Equity Market ETF

DFAUANYSE Arca

Ab US Equity ETF

XCHGBNYSE Arca

Overlap

52.5%by weight

Expense ratio

DFAU −0.38pt a year

DFAU0.12%XCHG0.50%

Avg volume · 30D

DFAU 311.2×the volume

DFAU555KXCHG1.78K

DFAU vs XCHG Performance

Dec 31, 2025 – Nov 2, 2026

+12.2%DFAU+8.5%XCHG

Expense ratio: DFAU 0.12%, better; XCHG 0.50%
Fund size: DFAU $12.8B; XCHG $705M
1Y total return: DFAU +12.9%; XCHG No data
Yield (12M): DFAU 0.91%; XCHG No data
Holdings: DFAU 2163; XCHG 580
Avg volume (30D): DFAU 555K sh, better; XCHG 1.78K sh
NAV per share: DFAU $52.07; XCHG $27.14
52W range

ETF.net Grade

Pillar letters and Scores for DFAU, XCHG, with each pillar’s weight
Pillar	DFAU	XCHG
Cost30% weight	A97Higher	B66
Mission25% weight	A83Higher	A76
Risk15% weight	B65Higher	B60
Tradability15% weight	A87Higher	C40
Holdings10% weight	A84Higher	B66
Durability5% weight	A91Higher	B67

Rank among US Active Equity funds

How we build Categories ›

Same Category. DFAU and XCHG 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 XCHG 44th 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 44BMIGOMIG Core ETFScore 59
Rank 44BXCHGAb US Equity ETFScore 59
Rank 48BBROLBaron Risk Optimized Large Cap ETFScore 58

Our read on each fund

ETF.net Research

DFAUADimensional US Core Equity Market ETF

XCHGBAb US Equity 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.

XCHG The ticker is the tell. XCHG was seeded through a Section 351 exchange, the mechanism for folding appreciated stock into a new fund, then run as an actively managed, S&P 500-benchmarked portfolio of US mid- and large-caps.

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.

XCHG The fund seeks long-term growth of capital and income by investing primarily in U.S. mid- and large-capitalization companies. Its approach combines fundamental and quantitative research and aims to outperform over market cycles.

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.

XCHG 0.50% a year versus a 0.65% median for active US equity funds. An active mandate at a below-average sticker price.
Roughly 600 holdings measured against the S&P 500. A broad core sleeve, not a concentrated bet on a dozen convictions.
Built with Bernstein Private Wealth Management and launched into an AB ETF lineup already more than 20 funds deep. Pays quarterly.prnewswire.com
The process blends fundamental and quantitative research across US mid- and large-caps, aiming at growth of capital and income over full market cycles.

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.

XCHG Thinly traded. Spreads can run wider than on mega-liquid index funds, and size orders may need more patience.
Launched in December 2025, so there is no multi-cycle record for this strategy in ETF form yet.
Other active funds benchmarked to the same index charge less, including FELC at 0.18% and PQUS at 0.22%.

Full DFAU profile⁠

Full XCHG profile⁠

DFAU vs XCHG Holdings

How DFAU and XCHG differ

Overlap by weight

52.5%

Shared holdings make up 85.8% of XCHG and 77.1% of DFAU.

Level by level

Holdings428 in both52.5%
Countryby domicile96.7%
Asset classEquity100%

Sector

No Sector split for XCHG.

Country, concentration and asset class

Country by domicile

Country weights in DFAU and XCHG, widest gap first
Country	More in DFAUMore in XCHG	DFAU	XCHG
United States	DFAU +3.0 points	99.3%	96.3%
Taiwan	XCHG +1.7 points	0.0%	1.7%
Netherlands	XCHG +0.9 points	0.0%	0.9%
United Kingdom	XCHG +0.5 points	0.1%	0.6%
Other countries (10)	DFAU +0.1 points	0.6%	0.5%

Concentration

Weight in the 10 largest Holdings

DFAU33.2%
XCHG39.8%

Securities held

DFAU2,162
XCHG579

Asset class

DFAU: Equity
XCHG: Equity

Holdings

Only in DFAU1,734
In both428
Only in XCHG151

Only in DFAU

1,734 securities, 22.7% of DFAU by weight

Tesla Inc1.37%
Advanced Micro Devices0.92%
Palantir Technologies Inc0.38%
International Business Ma0.36%
New Linde PLC0.31%
Netflix.com Inc.0.25%
Sandisk Corp/De0.24%
Western Digital0.22%
Bristol-Myers Squibb Co.0.21%
Seagate Technology Hold0.20%
Marathon Petroleum Corp.0.19%
Accenture PLC0.18%
Valero Energy Corp0.18%
Newmont Corp0.17%
General Motors0.17%
Eaton Corp PLC0.16%
Johnson Controls Intl0.16%
Royal Caribbean Cruises0.16%
Hewlett-Packard Enterpris0.16%
Chubb Limited0.16%
Dell Technologies Inc0.15%
Medtronic PLC0.15%
Target Corp.0.15%
Synopsys Inc0.15%
Crowdstrike Holdings Inc0.14%
Fedex Corp0.14%
Aon PLC0.14%
Starbucks Corp0.14%
Freeport-Mcmoran Inc.0.13%
Nxp Semiconductors NV0.13%
Cummins Inc0.12%
Te Connectivity PLC0.12%
Fortinet Inc0.12%
Delta Air Lines Inc.0.11%
Cme Group Inc.0.11%
Crh PLC0.11%
Trane Technologies PLC0.11%
Moderna Inc0.10%
Vertiv Holdings Co0.10%
Ebay Inc.0.10%
Ford Motor Co0.10%
Corning Inc0.10%
Carnival Corp Ltd0.09%
Snowflake Inc0.09%
Garmin Ltd0.09%
Cadence Design Systems0.09%
Lumentum Holdings Inc0.08%
Doordash Inc0.08%
Keurig Dr Pepper Inc0.08%
Monolithic Power Sys. Inc0.08%

Only in XCHG

151 securities, 14.2% of XCHG by weight

Taiwan Semiconductor Sp Adr Adr1.59%
Eaton Corp PLC Common Stock USD.011.21%
Vanguard Morningstar Total Sto Vg Morningstar Ts Mkt Etf Us0.91%
Nxp Semiconductors NV Common Stock EUR.20.75%
Bae Systems PLC Spon Adr Adr0.62%
Seagate Technology Holdings Common Stock USD.000010.55%
Ishares U.s. Equity Factor Etf Ishares Us Equity Factor Etf0.47%
Digital Realty Trust Inc Reit USD.010.46%
Medtronic PLC Common Stock USD.10.46%
Asml Holding NV Ny Reg Shs Ny Reg Shrs EUR.090.45%
Vanguard Morningstar Mid Cap E Vngrd Mrngstr Md Cap Etf USD0.44%
Vanguard S+p 500 Etf Vanguard S+p 500 Etf0.43%
Medline Inc Class A Common Stock USD.00010.41%
Airbus SE Unsp Adr Adr0.40%
Linde PLC Common Stock0.37%
Invesco Qqq Trust Series 1 Invesco Qqq Trust Series 10.37%
State Street Spdr S+p 500 Etf Ss Spdr S+p 500 Etf Trust Us0.34%
Chubb Ltd Common Stock0.26%
Ishares Core S+p 500 Etf Ishares Core S+p 500 Etf0.23%
Alliancebernstein Govt Stif Ssc Fund 64BA Agis 5870.20%
Vanguard Dividend Appreciation Vanguard Dividend Apprec Etf0.18%
Ishares S+p 500 Growth Etf Ishares S+p 500 Growth Etf0.18%
Waste Connections Inc Common Stock0.17%
State Street Financial Select Ss Financial Select Sector0.16%
Schwab Us Large Cap Etf Schwab Us Large Cap Etf0.13%
Vanguard Industrials Etf Vanguard Industrials Etf0.12%
Extra Space Storage Inc Reit USD.010.12%
Berkshire Hathaway Inc Class A Common Stock USD5.00.12%
State Street Industrial Select Ss Industrial Select Sector0.11%
Ishares Msci Usa Quality Facto Ishares Msci Usa Quality Fac0.11%
Aon PLC Class A Common Stock0.10%
State Street Health Care Selec Ss Health Care Select Sector0.10%
Vanguard Morningstar Mega Cap Vngrd Mrgstr Mg Cp Vl Etf Ui0.09%
State Street Energy Select Sec Ss Energy Select Sector0.08%
Trane Technologies PLC Common Stock USD1.00.07%
State Street Spdr Portfolio S+ Ss Spdr P S+p 500 Value Etf0.06%
Vanguard Morningstar Mega Cap Vngrd Mrgstr Mg Cp Gr Etf Ui0.06%
Ishares Core S+p U.s. Growth E Ishares Core S+p U.s. Growth0.06%
Vanguard Morningstar Growth Et Vanguard Mrngstar Gr Etf Sui0.06%
Ishares Core S+p Mid Cap Etf Ishares Core S+p Midcap Etf0.05%
State Street Spdr Portfolio S+ Ss Spdr P S+p 500 Growth Etf0.05%
Willis Towers Watson PLC Common Stock USD.0003046350.05%
Ishares Russell 1000 Value Etf Ishares Russell 1000 Value E0.04%
Ishares Esg Optimized Msci Usa Ishares Esg Optimized Msci U0.04%
Vanguard Consumer Discretionar Vanguard Consumer Discre Etf0.04%
Ishares Russell 1000 Growth Et Ishares Russell 1000 Growth0.04%
Prologis Inc Reit USD.010.03%
Simon Property Group Inc Reit USD.00010.03%
American Tower Corp Reit USD.010.03%
Iron Mountain Inc Reit USD.010.03%

Weight gaps

The 100 widest of 428 Holdings in both funds.

Holding weights in DFAU and XCHG, widest gap first
Holding	More in DFAUMore in XCHG	DFAU	XCHG
Visa IncV	XCHG +2.22 points	0.98%	3.20%
Thermo Fisher Scientific.TMO	XCHG +1.40 points	0.27%	1.67%
Apple Inc.AAPL	DFAU +1.31 points	7.13%	5.82%
Amazon.com Inc.AMZN	XCHG +1.30 points	3.15%	4.45%
UnitedHealth Group Inc.UNH	XCHG +1.18 points	0.41%	1.59%
Walt Disney Co/TheDIS	XCHG +1.18 points	0.22%	1.40%
Alphabet IncGOOG	XCHG +1.16 points	1.76%	2.92%
The Charles Schwab Corp.SCHW	XCHG +1.14 points	0.17%	1.31%
Microsoft CorpMSFT	XCHG +1.10 points	5.62%	6.72%
Micron Technology Inc.MU	DFAU +1.10 points	1.56%	0.46%
Csx CorpCSX	XCHG +1.07 points	0.17%	1.24%
NVIDIA CorpNVDA	XCHG +1.07 points	6.61%	7.68%
Eog Resources Inc.EOG	XCHG +1.03 points	0.20%	1.23%
Wells Fargo & Co.WFC	XCHG +0.94 points	0.34%	1.28%
Meta Platforms IncMETA	XCHG +0.94 points	1.78%	2.72%
Berkshire Hathaway Cl-BBRK.B	DFAU +0.89 points	1.17%	0.28%
Merck & Company IncMRK	XCHG +0.89 points	0.55%	1.44%
Rtx CorpRTX	XCHG +0.84 points	0.32%	1.16%
Iqvia Holdings IncIQV	XCHG +0.83 points	0.09%	0.92%
JPMorgan Chase & CoJPM	DFAU +0.83 points	1.21%	0.38%
Broadcom IncAVGO	XCHG +0.79 points	1.96%	2.75%
Ge Vernova LlcGEV	XCHG +0.77 points	0.20%	0.97%
S&P Global IncSPGI	XCHG +0.74 points	0.16%	0.90%
Cisco Systems Inc.CSCO	XCHG +0.67 points	0.53%	1.20%
Applied Materials Inc.AMAT	XCHG +0.66 points	0.36%	1.02%
Texas Instruments Inc.TXN	XCHG +0.65 points	0.35%	1.00%
Johnson & JohnsonJNJ	DFAU +0.64 points	0.78%	0.14%
Bank of America CorpBAC	XCHG +0.65 points	0.39%	1.04%
American Elec Power Inc.AEP	XCHG +0.56 points	0.12%	0.68%
Motorola Solutions Inc.MSI	XCHG +0.55 points	0.16%	0.71%
Deere & Co.DE	XCHG +0.56 points	0.21%	0.77%
Veralto CorpVLTO	XCHG +0.54 points	0.05%	0.59%
Autozone Inc.AZO	XCHG +0.53 points	0.08%	0.61%
AbbVie Inc.ABBV	DFAU +0.52 points	0.62%	0.10%
Mastercard Inc - AMA	DFAU +0.51 points	0.70%	0.19%
United Rentals Inc.URI	XCHG +0.50 points	0.13%	0.63%
Vylor SpincoVYLR	XCHG +0.49 points	0.08%	0.57%
Capital One FinancialCOF	XCHG +0.47 points	0.15%	0.62%
Eli Lilly and CompanyLLY	DFAU +0.45 points	1.52%	1.07%
Goldman Sachs Group Inc.GS	XCHG +0.44 points	0.35%	0.79%
Coca Cola Co.KO	XCHG +0.43 points	0.47%	0.90%
Paccar Inc.PCAR	XCHG +0.42 points	0.09%	0.51%
Hyatt Hotels CorpH	XCHG +0.41 points	0.01%	0.42%
Vertex PharmaceuticalsVRTX	XCHG +0.40 points	0.15%	0.55%
Tjx Companies Inc.TJX	XCHG +0.38 points	0.21%	0.59%
Monster Beverage CorpMNST	XCHG +0.39 points	0.12%	0.51%
Waters Corp.WAT	XCHG +0.36 points	0.07%	0.43%
Encompass Health CorpEHC	XCHG +0.35 points	0.03%	0.38%
Chevron Corp.CVX	DFAU +0.34 points	0.58%	0.24%
General Electric CompanyGE	DFAU +0.33 points	0.37%	0.04%
Amphenol Corp Class AAPH	XCHG +0.34 points	0.24%	0.58%
Caterpillar Inc.CAT	DFAU +0.33 points	0.34%	0.01%
Amgen IncAMGN	DFAU +0.33 points	0.37%	0.04%
Procter & Gamble Co/ThePG	DFAU +0.32 points	0.53%	0.21%
Alphabet Inc - Class AGOOGL	DFAU +0.31 points	2.14%	1.83%
Everest Group LtdEG	XCHG +0.31 points	0.03%	0.34%
Lam Research CorpLRCX	DFAU +0.30 points	0.34%	0.04%
Philip Morris IntlPM	DFAU +0.30 points	0.38%	0.08%
Gilead Sciences IncGILD	DFAU +0.29 points	0.31%	0.02%
Salesforce IncCRM	DFAU +0.24 points	0.25%	0.01%
American Express Co.AXP	DFAU +0.20 points	0.26%	0.06%
Pfizer Inc.PFE	DFAU +0.19 points	0.20%	<0.01%
Home Depot IncHD	XCHG +0.20 points	0.46%	0.66%
AT&T Inc.T	DFAU +0.19 points	0.20%	<0.01%
Oracle Corp.ORCL	DFAU +0.19 points	0.36%	0.17%
Qualcomm Inc.QCOM	DFAU +0.19 points	0.27%	0.08%
Exxonmobil Holdings CorpXOM	XCHG +0.18 points	1.11%	1.29%
Morgan StanleyMS	DFAU +0.19 points	0.29%	0.10%
Phillips 66PSX	DFAU +0.18 points	0.20%	0.02%
Pepsico Inc.PEP	DFAU +0.18 points	0.26%	0.08%
Mcdonald's Corp.MCD	DFAU +0.17 points	0.21%	0.04%
Palo Alto Networks IncPANW	DFAU +0.17 points	0.20%	0.03%
Kla CorpKLAC	DFAU +0.16 points	0.27%	0.11%
Verizon CommunicationsVZ	DFAU +0.16 points	0.31%	0.15%
Analog Devices Inc.ADI	DFAU +0.17 points	0.24%	0.07%
Lockheed Martin Corp.LMT	DFAU +0.17 points	0.20%	0.03%
ConocophillipsCOP	DFAU +0.16 points	0.30%	0.14%
Arista Networks IncANET	DFAU +0.15 points	0.19%	0.04%
Regeneron PharmaceuticalsREGN	DFAU +0.14 points	0.15%	<0.01%
3M Co.MMM	DFAU +0.14 points	0.16%	0.02%
Slb LtdSLB	DFAU +0.13 points	0.15%	0.02%
Keysight Technologies IncKEYS	XCHG +0.13 points	0.09%	0.22%
Marriott Intl Class AMAR	DFAU +0.13 points	0.14%	0.01%
Occidental Petroleum CorpOXY	DFAU +0.13 points	0.15%	0.02%
Boeing Co/TheBA	DFAU +0.13 points	0.14%	<0.01%
Carrier Global CorpCARR	XCHG +0.13 points	0.06%	0.19%
Republic Services IncRSG	DFAU +0.12 points	0.14%	0.02%
Ups Inc. Class BUPS	DFAU +0.12 points	0.13%	0.01%
Booking Holdings IncBKNG	DFAU +0.12 points	0.13%	<0.01%
Marsh & Mclennan Cos IncMRSH	XCHG +0.12 points	0.14%	0.26%
Metlife Inc.MET	DFAU +0.11 points	0.13%	0.02%
Hilton Worldwide HoldHLT	DFAU +0.12 points	0.13%	0.01%
Nucor Corp.NUE	DFAU +0.12 points	0.12%	<0.01%
Kinder Morgan Inc.KMI	DFAU +0.11 points	0.12%	0.01%
Parker-Hannifin CorpPH	DFAU +0.11 points	0.13%	0.02%
Uber Technologies IncUBER	DFAU +0.11 points	0.13%	0.02%
Allstate Corp.ALL	DFAU +0.11 points	0.15%	0.04%
Diamondback Energy IncFANG	DFAU +0.11 points	0.11%	<0.01%
Cvs Health CorpCVS	DFAU +0.11 points	0.14%	0.03%
Cheniere Energy IncLNG	DFAU +0.11 points	0.14%	0.03%

All 2,381 DFAU holdings⁠All 578 XCHG 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 XCHG Cost

Overpaying XCHG vs DFAU

$7,459

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

DFAU 0.12%
$2,520
XCHG 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

DFAU 0.12%
XCHG 0.50%
Overpaying

Year by year

Year	DFAU	XCHG	Overpaying
10	$220	$900	$680
20	$859	$3,460	$2,601
30	$2,520	$9,979	$7,459

Expense ratio

0.12%DFAU, cheaper
0.50%XCHG

DFAU0.12%XCHG0.50%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

DFAU 4th cheapest of 121 funds

XCHG 45th cheapest of 121 funds

DFAU vs XCHG Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DFAU 0.91%; XCHG No data
Payout (12M): DFAU $0.47; XCHG No data
Last payment: DFAU $0.12; XCHG $0.04
Ex-dividend: DFAU Sep 22, 2026; XCHG Sep 18, 2026
Paid on: DFAU Sep 24, 2026; XCHG Sep 21, 2026
Frequency: DFAU Quarterly; XCHG Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

DFAUQuarterly · 24 paymentsAll DFAU payments⁠

XCHGQuarterly · 4 paymentsAll XCHG payments⁠

DFAU vs XCHG 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%XCHG No data
Return per unit of riskSharpe ratio, 3 years: DFAU 1.38XCHG No data
Worst fallMax drawdown, 5 years: DFAU −23.6%XCHG No data
Market sensitivityBeta, 5 years: DFAU 1.01XCHG 0.91; Market = 1

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