DFAW vs LSAT: Grades, Fees and Holdings Compared

Dimensional World Equity ETF

DFAWANYSE Arca

LeaderShares AlphaFactor Tactical Focused ETF

LSATDNYSE Arca

Overlap

0.0%by weight

Expense ratio

DFAW −0.76pt a year

DFAW0.23%LSAT0.99%

Avg volume · 30D

DFAW 23.5×the volume

DFAW98.6KLSAT4.2K

3Y return · a year

DFAW +3.6pt

DFAW+20.7%LSAT+17.1%

DFAW vs LSAT Performance

Oct 31, 2025 – Nov 2, 2026

+15.6%DFAW+26.3%LSAT

Expense ratio: DFAW 0.23%, better; LSAT 0.99%
Fund size: DFAW $1.71B; LSAT $72M
1Y total return: DFAW +15.6%; LSAT +26.3%, better
Yield (12M): DFAW 1.30%; LSAT 1.49%, better
Holdings: DFAW 6; LSAT 35
Avg volume (30D): DFAW 98.6K sh, better; LSAT 4.2K sh
NAV per share: DFAW $82.88; LSAT $48.66
52W range

ETF.net Grade

Pillar letters and Scores for DFAW, LSAT, with each pillar’s weight
Pillar	DFAW	LSAT
Cost30% weight	A95Higher	F12
Mission25% weight	A100	Not scored
Risk15% weight	A75Higher	B65
Tradability15% weight	A83Higher	C54
Holdings10% weight	D32	C50Higher
Durability5% weight	A79Higher	B62

Rank among Global Active Equity funds

How we build Categories ›

Same Category. DFAW and LSAT 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 LSAT 28th 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 28DCDIGCity Different Investments Global Equity ETFScore 39
Rank 28DLSATLeaderShares AlphaFactor Tactical Focused ETFScore 39
Rank 30DTOGATremblant Global ETFScore 38

Our read on each fund

ETF.net Research

DFAWADimensional World Equity ETF

LSATDLeaderShares AlphaFactor Tactical Focused ETF

In short

DFAW No data

LSAT A December 2025 launch: an actively run, focused US stock book picked by Leader Capital's in-house AlphaFactor screen. In a peer group full of cheap global index blends, it's the small, opinionated one, and it prices like it.

Stated mandate

DFAW No data

LSAT The Fund's stated aim is long-term capital growth.

Why people hold it

DFAW No data

LSAT Actively managed, focused US equity portfolio built on the house AlphaFactor screen, with long-term capital growth as the stated aim. No index to hug.
Concentration is the point: a focused US book has a very different shape from the broad global blends that anchor this peer group, such as GSWO and AVGE.
Standard 1940 Act ETF wrapper: 1099 tax reporting, no partnership K-1, and no structural flags recorded against it.

Worth knowing

DFAW No data

LSAT Fees run at 0.99% a year, above the roughly 0.69% median for its active-equity peer group and several times what index-tilted rivals like GSWO (0.15%) charge.
Launched December 2025, so there is no long live record for the screen yet, and the fund is thinly traded, which tends to mean wider spreads.
A focused, discretionary book means individual holdings carry real weight and outcomes track the manager's calls, not a published benchmark.

Full DFAW profile⁠

Full LSAT profile⁠

DFAW vs LSAT Holdings

How DFAW and LSAT differ

Overlap by weight

0.0%

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

Level by level

Holdings0 in both0.0%
Countryby domicile73.0%
Sector11 Sectors78.9%
Asset classEquity100%

Sector

Sector weights in DFAW and LSAT, widest gap first
Sector	More in DFAWMore in LSAT	DFAW	LSAT
Technology	DFAW +12.4 points	27.2%	14.8%
Consumer Discretionary	LSAT +12.2 points	9.4%	21.6%
Financials	LSAT +7.6 points	15.8%	23.4%
Consumer Staples	DFAW +2.0 points	4.8%	2.8%
Utilities	DFAW +2.0 points	2.0%	0.0%
Health Care	DFAW +1.5 points	9.0%	7.5%
Energy	DFAW +1.4 points	5.7%	4.3%
Materials	DFAW +1.3 points	4.8%	3.5%
Real Estate	LSAT +0.9 points	2.2%	3.1%
Industrials	DFAW +0.5 points	12.7%	12.2%
Communication	LSAT +0.3 points	6.4%	6.7%

Country, concentration and asset class

Country by domicile

Country weights in DFAW and LSAT, widest gap first
Country	More in DFAWMore in LSAT	DFAW	LSAT
United States	LSAT +27.0 points	73.0%	100.0%
Japan	DFAW +4.5 points	4.5%	0.0%
Taiwan	DFAW +2.5 points	2.5%	0.0%
United Kingdom	DFAW +2.3 points	2.3%	0.0%
Canada	DFAW +2.1 points	2.1%	0.0%
China	DFAW +1.7 points	1.7%	0.0%
Switzerland	DFAW +1.7 points	1.7%	0.0%
South Korea	DFAW +1.5 points	1.5%	0.0%
Other countries (31)	DFAW +10.8 points	10.8%	0.0%

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

Concentration

Weight in the 10 largest Holdings

DFAW100.0%
LSAT36.8%

Securities held

DFAW5
LSAT33

Asset class

DFAW: Equity
LSAT: Equity

Holdings

Only in DFAW5
In both0
Only in LSAT33

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 LSAT

33 securities, 100% of LSAT by weight

Kemper Corp3.95%
Harley-Davidson3.82%
H&R Block Inc3.78%
Churchill Downs3.76%
Godaddy Inc-A3.71%
Morningstar Inc3.60%
Sm Energy Co3.56%
Fortive Corp3.55%
Halozyme Therape3.53%
Science Applicat3.51%
Carlisle Cos Inc3.49%
Api Group Corp3.46%
Post Holdings In3.44%
American Interna3.31%
Boyd Gaming Corp3.25%
Toll Brothers3.25%
Ferguson Enterpr3.21%
Dr Horton Inc3.18%
Cf Industries Ho3.17%
Davita Inc3.17%
Synchrony Financ3.16%
Mgic Invt Corp3.13%
Equitable Holdin3.11%
Western Union3.10%
Match Group Inc3.10%
Sun Communities3.07%
Southwest Air3.06%
Allison Transmis2.89%
Iridium Communic2.81%
Fortinet Inc2.28%
Bbh Sweep Vehicle0.45%
Gs-Govt-Adm0.19%
Us Dollar Broker<0.01%

Weight gaps

DFAW and LSAT share no securities.

All 6 DFAW holdings⁠All LSAT 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 LSAT Cost

Overpaying LSAT vs DFAW

$13,766

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

DFAW 0.23%
$4,759
LSAT 0.99%
$18,525

Amount$10,000

Years30 years

Cost over time

DFAW 0.23%
LSAT 0.99%
Overpaying

Year by year

Year	DFAW	LSAT	Overpaying
10	$419	$1,746	$1,327
20	$1,630	$6,565	$4,935
30	$4,759	$18,525	$13,766

Expense ratio

0.23%DFAW, cheaper
0.99%LSAT

DFAW0.23%LSAT0.99%

0.22%1.19%

Middle half of Global Active Equity funds
Median 0.69%

DFAW 2nd cheapest of 44 funds

LSAT 38th cheapest of 44 funds

DFAW vs LSAT Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DFAW 1.30%; LSAT 1.49%, better
Payout (12M): DFAW $1.08; LSAT $0.74
Last payment: DFAW $0.26; LSAT $0.74
Ex-dividend: DFAW Sep 22, 2026; LSAT Dec 17, 2025
Paid on: DFAW Sep 24, 2026; LSAT Dec 24, 2025
Frequency: DFAW Quarterly; LSAT Annual

Distribution history

Per share, 2020 to 2026, same scale for both

DFAWQuarterly · 12 paymentsAll DFAW payments⁠

LSATAnnual · 6 paymentsAll LSAT payments⁠

DFAW vs LSAT 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%, betterLSAT 14.0%
Return per unit of riskSharpe ratio, 3 years: DFAW 1.37, betterLSAT 0.85
Worst fallMax drawdown, 5 years: DFAW −16.9%since Sep 2023LSAT −20.5%
Market sensitivityBeta, 5 years: DFAW 0.91LSAT 0.62; Market = 1

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