DFAW vs INFL: Grades, Fees and Holdings Compared

Dimensional World Equity ETF

DFAWANYSE Arca

Horizon Kinetics Inflation Beneficiaries ETF

INFLCNYSE Arca

Overlap

0.0%by weight

Expense ratio

DFAW −0.62pt a year

DFAW0.23%INFL0.85%

Avg volume · 30D

INFL 1.3×the volume

DFAW98.6KINFL132K

3Y return · a year

DFAW +0.4pt

DFAW+20.7%INFL+20.3%

DFAW vs INFL Performance

Oct 31, 2025 – Nov 2, 2026

+15.6%DFAW+17.1%INFL

Expense ratio: DFAW 0.23%, better; INFL 0.85%
Fund size: DFAW $1.71B; INFL $1.53B
1Y total return: DFAW +15.6%; INFL +17.1%, better
Yield (12M): DFAW 1.30%, better; INFL 0.79%
Holdings: DFAW 6; INFL 51
Avg volume (30D): DFAW 98.6K sh; INFL 132K sh, better
NAV per share: DFAW $82.88; INFL $50.52
52W range

ETF.net Grade

Pillar letters and Scores for DFAW, INFL, with each pillar’s weight
Pillar	DFAW	INFL
Cost30% weight	A95Higher	F22
Mission25% weight	A100	Not scored
Risk15% weight	A75Higher	C48
Tradability15% weight	A83Higher	B63
Holdings10% weight	D32	D37Higher
Durability5% weight	A79Higher	A78

Rank among Global Active Equity funds

How we build Categories ›

Same Category. DFAW and INFL 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 INFL 26th 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 25CACTSFIS Tactical Equity ETFScore 43
Rank 26CINFLHorizon Kinetics Inflation Beneficiaries ETFScore 41
Rank 27CFGSMFrontier Asset Global Small Cap Equity ETFScore 40

Our read on each fund

ETF.net Research

DFAWADimensional World Equity ETF

INFLCHorizon Kinetics Inflation Beneficiaries ETF

In short

DFAW No data

INFL Most equity funds chase an index. INFL chases purchasing power: a hand-picked book of roughly 50 stocks built around one question, what holds up when prices rise. Active since 2021, with no benchmark to hide behind.

Stated mandate

DFAW No data

INFL The Fund targets long-term capital appreciation after accounting for inflation.

Why people hold it

DFAW No data

INFL The mandate is unusually specific: long-term capital appreciation after accounting for inflation, not simply beating a stock index. That framing drives value-led, bottom-up stock picking.
About 50 names across US and developed international markets. Concentrated enough that individual picks actually move the portfolio, which is the point of hiring an active manager.
Trades well for a niche active fund. Liquidity and spreads sit near the top of its global active equity peer group, so getting in and out is rarely the expensive part.
Launched in 2021 and since grown past the billion-dollar mark, giving it an operating history and a scale most thematic launches never reach. Pays quarterly.

Worth knowing

DFAW No data

INFL At 0.85% a year, it costs more than the typical global active equity fund. Broad index peers like GSWO and DFAW charge a fraction of that.
No index to grade it against. This is a manager's book of inflation beneficiaries, so the process and the holdings, not tracking error, are what you are judging.
A concentrated, theme-driven portfolio moves on its own schedule. It can look nothing like the broad market for long stretches, in either direction.

Full DFAW profile⁠

Full INFL profile⁠

DFAW vs INFL Holdings

How DFAW and INFL differ

Overlap by weight

0.0%

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

Level by level

Holdings0 in both0.0%
Sector11 Sectors36.3%
Countryby domicile61.9%
Asset classEquity100%

Sector

Sector weights in DFAW and INFL, widest gap first
Sector	More in DFAWMore in INFL	DFAW	INFL
Energy	INFL +35.6 points	5.7%	41.3%
Technology	DFAW +27.2 points	27.2%	0.0%
Materials	INFL +17.6 points	4.8%	22.4%
Financials	INFL +10.5 points	15.8%	26.3%
Industrials	DFAW +10.4 points	12.7%	2.3%
Consumer Discretionary	DFAW +9.4 points	9.4%	0.0%
Health Care	DFAW +7.7 points	9.0%	1.3%
Communication	DFAW +6.0 points	6.4%	0.3%
Consumer Staples	DFAW +2.1 points	4.8%	2.7%
Real Estate	DFAW +0.9 points	2.2%	1.3%
Utilities	INFL +0.1 points	2.0%	2.1%

Country, concentration and asset class

Country by domicile

Country weights in DFAW and INFL, widest gap first
Country	More in DFAWMore in INFL	DFAW	INFL
Canada	INFL +32.0 points	2.1%	34.1%
United States	DFAW +18.9 points	73.0%	54.1%
Singapore	INFL +3.7 points	0.3%	4.0%
Japan	DFAW +2.6 points	4.5%	1.9%
Taiwan	DFAW +2.5 points	2.5%	0.0%
Germany	INFL +2.1 points	1.3%	3.4%
United Kingdom	DFAW +1.8 points	2.3%	0.5%
China	DFAW +1.7 points	1.7%	0.0%
Other countries (31)	DFAW +10.3 points	12.3%	2.0%

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

Concentration

Weight in the 10 largest Holdings

DFAW100.0%
INFL47.6%

Securities held

DFAW5
INFL49

Asset class

DFAW: Equity
INFL: Equity

Holdings

Only in DFAW5
In both0
Only in INFL49

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 INFL

49 securities, 100% of INFL by weight

LandBridge Corp6.83%
Wheaton Precious Metals Corp5.60%
PrairieSky Royalty Ltd5.44%
Franco-Nevada Corp5.12%
Intercontinental Exchange Inc5.11%
WaterBridge Infrastructure LLC4.69%
Texas Pacific Land Corp3.98%
Us Bank Mmda - Usbgfs 7 06/01/20313.81%
OR Royalties Inc3.60%
Permian Basin Royalty Trust3.39%
Deutsche Boerse AG3.33%
Cheniere Energy Inc3.28%
Singapore Exchange Ltd3.16%
CME Group Inc3.00%
Cameco Corp2.98%
Viper Energy Inc2.68%
TMX Group Ltd2.64%
Miami International Holdings Inc2.21%
Topaz Energy Corp2.20%
Hawaiian Electric Industries Inc1.97%
WhiteHawk Minerals Corp1.95%
Glencore PLC1.91%
Tradeweb Markets Inc1.84%
Marsh & McLennan Cos Inc1.82%
EagleRock Land LLC1.62%
Bunge Global SA1.51%
Japan Exchange Group Inc1.48%
Royalty Pharma PLC1.45%
St Joe Co/The1.31%
Sprott Inc1.23%
RB Global Inc1.08%
Brookfield Corp0.96%
Altius Minerals Corp0.94%
Triple Flag Precious Metals Corp0.76%
Tejon Ranch Co0.74%
Wilmar International Ltd0.68%
Cadiz Inc0.64%
Clarkson PLC0.49%
Mesabi Trust0.44%
Sabine Royalty Trust0.39%
Dorchester Minerals LP0.33%
Labrador Iron Ore Royalty Corp0.28%
San Juan Basin Royalty Trust0.26%
Evolve Royalties Ltd0.24%
Toei Animation Co Ltd0.19%
Metalla Royalty & Streaming Ltd0.19%
IG Port Inc0.14%
Permian Basin Rlty SUBS RTS0.01%
Fermi Inc<0.01%

Weight gaps

DFAW and INFL share no securities.

All 6 DFAW holdings⁠All 50 INFL 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 INFL Cost

Overpaying INFL vs DFAW

$11,440

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

DFAW 0.23%
$4,759
INFL 0.85%
$16,199

Amount$10,000

Years30 years

Cost over time

DFAW 0.23%
INFL 0.85%
Overpaying

Year by year

Year	DFAW	INFL	Overpaying
10	$419	$1,508	$1,089
20	$1,630	$5,706	$4,076
30	$4,759	$16,199	$11,440

Expense ratio

0.23%DFAW, cheaper
0.85%INFL

DFAW0.23%INFL0.85%

0.22%1.19%

Middle half of Global Active Equity funds
Median 0.69%

DFAW 2nd cheapest of 44 funds

INFL 34th cheapest of 44 funds

DFAW vs INFL Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DFAW 1.30%, better; INFL 0.79%
Payout (12M): DFAW $1.08; INFL $0.40
Last payment: DFAW $0.26; INFL $0.09
Ex-dividend: DFAW Sep 22, 2026; INFL Sep 23, 2026
Paid on: DFAW Sep 24, 2026; INFL Sep 24, 2026
Frequency: DFAW Quarterly; INFL Quarterly

Distribution history

Per share, 2021 to 2026, same scale for both

DFAWQuarterly · 12 paymentsAll DFAW payments⁠

INFLQuarterly · 23 paymentsAll INFL payments⁠

DFAW vs INFL 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%, betterINFL 16.8%
Return per unit of riskSharpe ratio, 3 years: DFAW 1.37, betterINFL 0.99
Worst fallMax drawdown, 5 years: DFAW −16.9%since Sep 2023INFL −21.3%
Market sensitivityBeta, 5 years: DFAW 0.91INFL 0.53; Market = 1

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