DFAW vs TOGA: Grades, Fees and Holdings Compared

Dimensional World Equity ETF

DFAWANYSE Arca

Tremblant Global ETF

TOGADNYSE Arca

Overlap

0.0%by weight

Expense ratio

DFAW −0.46pt a year

DFAW0.23%TOGA0.69%

Avg volume · 30D

DFAW 19.3×the volume

DFAW98.6KTOGA5.1K

DFAW vs TOGA Performance

Oct 31, 2025 – Nov 2, 2026

+15.6%DFAW−10.8%TOGA

Expense ratio: DFAW 0.23%, better; TOGA 0.69%
Fund size: DFAW $1.71B; TOGA $172M
1Y total return: DFAW +15.6%, better; TOGA −10.8%
Yield (12M): DFAW 1.30%; TOGA No data
Holdings: DFAW 6; TOGA 30
Avg volume (30D): DFAW 98.6K sh, better; TOGA 5.1K sh
NAV per share: DFAW $82.88; TOGA $29.99
52W range

ETF.net Grade

Pillar letters and Scores for DFAW, TOGA, with each pillar’s weight
Pillar	DFAW	TOGA
Cost30% weight	A95Higher	C49
Mission25% weight	A100	Not scored
Risk15% weight	A75Higher	F5
Tradability15% weight	A83Higher	D31
Holdings10% weight	D32	C52Higher
Durability5% weight	A79Higher	B66

Rank among Global Active Equity funds

How we build Categories ›

Same Category. DFAW and TOGA 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 TOGA 30th 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 28DLSATLeaderShares AlphaFactor Tactical Focused ETFScore 39
Rank 30DTOGATremblant Global ETFScore 38
Rank 31DLENSSarmaya Thematic ETFScore 37

Our read on each fund

ETF.net Research

DFAWADimensional World Equity ETF

TOGADTremblant Global ETF

In short

DFAW No data

TOGA No index here. A manager picks stocks anywhere in the world, and the 0.69% fee lands right at the middle of the active global equity pack. Launched in 2024, so the record is still short.

Stated mandate

DFAW No data

TOGA The Fund is an actively managed ETF whose objective is pursued primarily through investments in equity securities.

Why people hold it

DFAW No data

TOGA Genuinely active and genuinely global: the portfolio is assembled by a manager choosing equities worldwide, not by copying a benchmark.
The 0.69% expense ratio is the median for its active global equity group, so the stock-picking costs no more than the going rate.
Plain-vanilla fund structure under the 1940 Act: ordinary ETF shares, 1099 at tax time, no K-1 paperwork.

Worth knowing

DFAW No data

TOGA The strongest-graded funds in this global cohort charge far less: GSWO at 0.15% and AVGE at 0.25%, against 0.69% here.
Thinly traded, so the gap between bid and ask can widen. Limit orders are the standard tool with funds like this.
A 2024 launch means a short history, and on the single year of data available the ride has been bumpier than most global peers.

Full DFAW profile⁠

Full TOGA profile⁠

DFAW vs TOGA Holdings

How DFAW and TOGA differ

Overlap by weight

0.0%

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

Level by level

Holdings0 in both0.0%
Sector11 Sectors54.4%
Countryby domicile77.1%
Asset classEquity100%

Sector

Sector weights in DFAW and TOGA, widest gap first
Sector	More in DFAWMore in TOGA	DFAW	TOGA
Communication	TOGA +19.0 points	6.4%	25.4%
Consumer Discretionary	TOGA +17.1 points	9.4%	26.5%
Industrials	DFAW +10.8 points	12.7%	1.9%
Health Care	DFAW +9.0 points	9.0%	0.0%
Technology	TOGA +8.5 points	27.2%	35.7%
Financials	DFAW +8.4 points	15.8%	7.4%
Energy	DFAW +5.7 points	5.7%	0.0%
Consumer Staples	DFAW +4.8 points	4.8%	0.0%
Materials	DFAW +4.8 points	4.8%	0.0%
Utilities	DFAW +2.0 points	2.0%	0.0%
Real Estate	TOGA +1.0 points	2.2%	3.2%

Country, concentration and asset class

Country by domicile

Country weights in DFAW and TOGA, widest gap first
Country	More in DFAWMore in TOGA	DFAW	TOGA
United States	TOGA +9.5 points	73.0%	82.5%
Japan	DFAW +4.5 points	4.5%	0.0%
Malaysia	TOGA +3.6 points	0.1%	3.7%
Germany	TOGA +3.3 points	1.3%	4.6%
Brazil	TOGA +3.1 points	0.3%	3.4%
Taiwan	DFAW +2.5 points	2.5%	0.0%
United Kingdom	DFAW +2.3 points	2.3%	0.0%
Canada	TOGA +2.2 points	2.1%	4.3%
Other countries (31)	DFAW +12.3 points	13.9%	1.6%

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

Concentration

Weight in the 10 largest Holdings

DFAW100.0%
TOGA44.1%

Securities held

DFAW5
TOGA30

Asset class

DFAW: Equity
TOGA: Equity

Holdings

Only in DFAW5
In both0
Only in TOGA30

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 TOGA

30 securities, 100% of TOGA by weight

Spotify Technology SA5.64%
RealReal Inc/The4.61%
CTS Eventim AG & Co KGaA4.49%
Match Group Inc4.35%
DoorDash Inc4.32%
Wyndham Hotels & Resorts Inc4.26%
Uber Technologies Inc4.25%
FTAI Aviation Ltd4.18%
Wingstop Inc4.03%
Q2 Holdings Inc4.00%
Shopify Inc3.82%
Coupang Inc3.75%
Live Nation Entertainment Inc3.71%
Grab Holdings Ltd3.65%
TKO Group Holdings Inc3.53%
Evercore Inc3.51%
CoStar Group Inc3.46%
MercadoLibre Inc3.25%
MongoDB Inc3.19%
Reddit Inc3.07%
Progressive Corp/The2.74%
First American Treasury Obligations Fund 01/01/20402.74%
Affirm Holdings Inc2.68%
nCino Inc2.53%
DraftKings Inc2.27%
Chipotle Mexican Grill Inc2.26%
Amer Sports Inc1.60%
TTM Technologies Inc1.51%
MKS Inc1.34%
FormFactor Inc1.27%

Weight gaps

DFAW and TOGA share no securities.

All 6 DFAW holdings⁠All TOGA 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 TOGA Cost

Overpaying TOGA vs DFAW

$8,670

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

DFAW 0.23%
$4,759
TOGA 0.69%
$13,429

Amount$10,000

Years30 years

Cost over time

DFAW 0.23%
TOGA 0.69%
Overpaying

Year by year

Year	DFAW	TOGA	Overpaying
10	$419	$1,232	$813
20	$1,630	$4,697	$3,067
30	$4,759	$13,429	$8,670

Expense ratio

0.23%DFAW, cheaper
0.69%TOGA

DFAW0.23%TOGA0.69%

0.22%1.19%

Middle half of Global Active Equity funds
Median 0.69%

DFAW 2nd cheapest of 44 funds

TOGA 22nd cheapest of 44 funds

DFAW vs TOGA Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DFAW 1.30%; TOGA No data
Payout (12M): DFAW $1.08; TOGA None
Last payment: DFAW $0.26; TOGA No data
Ex-dividend: DFAW Sep 22, 2026; TOGA No data
Paid on: DFAW Sep 24, 2026; TOGA No data
Frequency: DFAW Quarterly; TOGA No data

Distribution history

Per share, 2023 to 2026, same scale for both

DFAWQuarterly · 12 paymentsAll DFAW payments⁠

TOGAAll TOGA payments⁠

No distribution history available.

DFAW vs TOGA 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%TOGA 18.0%since Jun 2024
Return per unit of riskSharpe ratio, 3 years: DFAW 1.37TOGA 0.23since Jun 2024
Worst fallMax drawdown, 5 years: DFAW −16.9%since Sep 2023TOGA −28.5%since May 2024
Market sensitivityBeta, 5 years: DFAW 0.91TOGA 1.17; Market = 1

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