DFAW vs DWAW: Grades, Fees and Holdings Compared

Dimensional World Equity ETF

DFAWANYSE Arca

AdvisorShares Dorsey Wright FSM All Cap World Equity ETF

DWAWDNasdaq

Overlap

0.0%by weight

Expense ratio

DFAW −0.96pt a year

DFAW0.23%DWAW1.19%

Avg volume · 30D

DFAW 49.5×the volume

DFAW98.6KDWAW1.99K

3Y return · a year

DFAW +3.1pt

DFAW+20.7%DWAW+17.6%

DFAW vs DWAW Performance

Oct 31, 2025 – Nov 2, 2026

+15.6%DFAW+9.3%DWAW

Expense ratio: DFAW 0.23%, better; DWAW 1.19%
Fund size: DFAW $1.71B; DWAW $87M
1Y total return: DFAW +15.6%, better; DWAW +9.3%
Yield (12M): DFAW 1.30%, better; DWAW 0.71%
Holdings: DFAW 6; DWAW 6
Avg volume (30D): DFAW 98.6K sh, better; DWAW 1.99K sh
NAV per share: DFAW $82.88; DWAW $48.03
52W range

ETF.net Grade

Pillar letters and Scores for DFAW, DWAW, with each pillar’s weight
Pillar	DFAW	DWAW
Cost30% weight	A95Higher	F1
Mission25% weight	A100	Not scored
Risk15% weight	A75Higher	D28
Tradability15% weight	A83Higher	B59
Holdings10% weight	D32	D33Higher
Durability5% weight	A79Higher	A71

Rank among Global Active Equity funds

How we build Categories ›

Same Category. DFAW and DWAW are both graded against the same 44 Global Active Equity funds, so their Grades compare head to head.

Global Active Equity⁠

Category · 44 funds

See all 44 ›

DFAW ranks 1st and DWAW 40th of 44 funds in the Global Active Equity Category.

Rank 1AAVGEAvantis All Equity Markets ETFScore 79
Rank 1AAVTMAvantis Total Equity Markets ETF 1Score 79
Rank 1ABDVLiShares Disciplined Volatility Equity Active ETFScore 79
Rank 1ADFAWDimensional World Equity ETFScore 79
Rank 5ABFLXiShares Flexible Equity Active ETFScore 74
Rank 39DXCORFundX ETFScore 28
Rank 40DDWAWAdvisorShares Dorsey Wright FSM All Cap World Equity ETFScore 27
Rank 41FNXTEAXS Green Alpha ETFScore 22

Our read on each fund

ETF.net Research

DFAWADimensional World Equity ETF

DWAWDAdvisorShares Dorsey Wright FSM All Cap World Equity ETF

In short

DFAW No data

DWAW A momentum machine in ETF clothing. DWAW rents whole markets instead of picking stocks, letting Dorsey Wright relative-strength rankings steer money across US, developed and emerging equity, with MSCI ACWI as the stated yardstick.

Stated mandate

DFAW No data

DWAW The fund invests through ETFs holding domestic and foreign equity securities across market capitalizations, including emerging markets.

Why people hold it

DFAW No data

DWAW One ticket to the whole equity map: US, developed international and emerging markets, across market caps, held through other ETFs rather than single names.
Rules drive the rotation. The FSM All Cap World Core Model ranks by relative strength, so shifts follow momentum signals rather than a manager's mood.
Conventional 1940 Act ETF wrapper with a named benchmark, the MSCI All Country World Index (Net): 1099 tax reporting, no K-1, and a clear scorecard.
Trading since 2019, so the model has a live public record instead of a backtest.

Worth knowing

DFAW No data

DWAW Cost is the headline trade-off: 1.23% a year, while global peers such as GSWO, DFAW and AVGE run between 0.15% and 0.25%.
A smaller, lightly traded fund, so bid-ask spreads tend to run wider than in the giant global index funds.
Momentum buys what is already working, so the mix can sit far from world-index weights and reshuffle when leadership changes.

Full DFAW profile⁠

Full DWAW profile⁠

DFAW vs DWAW Holdings

How DFAW and DWAW differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of DFAW and 0.0% of DWAW.

Level by level

Holdings0 in both0.0%
Countryby domicile89.4%
Sector11 Sectors91.6%
Asset classEquity100%

Sector

Sector weights in DFAW and DWAW, widest gap first
Sector	More in DFAWMore in DWAW	DFAW	DWAW
Health Care	DWAW +4.6 points	9.0%	13.6%
Technology	DFAW +3.8 points	27.2%	23.4%
Financials	DWAW +1.8 points	15.8%	17.6%
Real Estate	DWAW +1.3 points	2.2%	3.5%
Consumer Staples	DFAW +0.8 points	4.8%	4.0%
Materials	DFAW +0.9 points	4.8%	3.9%
Energy	DFAW +0.8 points	5.7%	4.9%
Industrials	DFAW +0.7 points	12.7%	12.0%
Communication	DFAW +0.7 points	6.4%	5.7%
Consumer Discretionary	DFAW +0.6 points	9.4%	8.8%
Utilities	DWAW +0.5 points	2.0%	2.5%

Country, concentration and asset class

Country by domicile

Country weights in DFAW and DWAW, widest gap first
Country	More in DFAWMore in DWAW	DFAW	DWAW
United States	DWAW +5.9 points	73.0%	78.9%
Taiwan	DFAW +2.5 points	2.5%	0.0%
Japan	DWAW +1.8 points	4.5%	6.3%
China	DFAW +1.5 points	1.7%	0.2%
South Korea	DFAW +1.5 points	1.5%	0.0%
Canada	DFAW +1.1 points	2.1%	1.0%
India	DFAW +1.1 points	1.1%	0.0%
France	DWAW +0.9 points	1.1%	2.0%
Other countries (31)	DFAW +0.9 points	12.5%	11.6%

Outside the US: DFAW 69% developed, 31% emerging. DWAW 97% developed, 3% emerging.

Concentration

Weight in the 10 largest Holdings

DFAW100.0%
DWAW100.1%

Securities held

DFAW5
DWAW6

Asset class

DFAW: Equity
DWAW: Equity

Holdings

Only in DFAW5
In both0
Only in DWAW6

Only in DFAW

5 securities, 99.9% of DFAW by weight

Dfa Invt Dimensions53.95%
Dfa Intl Core Eqty 2 Etf18.26%
Dfa Us Core Equity 1 Etf17.92%
Dfa Em Core Equity 2 Etf8.19%
Dfa Gbl Real Estate Etf1.63%

Only in DWAW

6 securities, 100% of DWAW by weight

Ishares Msci Usa Value Facto20.59%
Ishares Msci International V20.50%
Ishares Msci Usa Quality Fac20.18%
Invesco Nasdaq 100 Etf19.34%
Ishares Msci Usa Momentum Fa19.02%
BlackRock Treasury Trust Instl 620.51%

Weight gaps

DFAW and DWAW share no securities.

All 6 DFAW holdings⁠All 4 DWAW 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.

DFAW vs DWAW Cost

Overpaying DWAW vs DFAW

$16,938

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

DFAW 0.23%
$4,759
DWAW 1.19%
$21,697

Amount$10,000

Years30 years

Cost over time

DFAW 0.23%
DWAW 1.19%
Overpaying

Year by year

Year	DFAW	DWAW	Overpaying
10	$419	$2,081	$1,662
20	$1,630	$7,756	$6,126
30	$4,759	$21,697	$16,938

Expense ratio

0.23%DFAW, cheaper
1.19%DWAW

DFAW0.23%DWAW1.19%

0.22%1.19%

Middle half of Global Active Equity funds
Median 0.69%

DFAW 2nd cheapest of 44 funds

DWAW 43rd cheapest of 44 funds

DFAW vs DWAW Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DFAW 1.30%, better; DWAW 0.71%
Payout (12M): DFAW $1.08; DWAW $0.34
Last payment: DFAW $0.26; DWAW $0.34
Ex-dividend: DFAW Sep 22, 2026; DWAW Dec 22, 2025
Paid on: DFAW Sep 24, 2026; DWAW Dec 29, 2025
Frequency: DFAW Quarterly; DWAW Irregular

Distribution history

Per share, 2020 to 2026, same scale for both

DFAWQuarterly · 12 paymentsAll DFAW payments⁠

DWAWIrregular · 5 paymentsAll DWAW payments⁠

DFAW vs DWAW Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFAW 11.8%, betterDWAW 15.8%
Return per unit of riskSharpe ratio, 3 years: DFAW 1.37, betterDWAW 0.92
Worst fallMax drawdown, 5 years: DFAW −16.9%since Sep 2023DWAW −28.4%
Market sensitivityBeta, 5 years: DFAW 0.91DWAW 1.07; Market = 1

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