DFAX vs SPWO: Grades, Fees and Holdings Compared

Dimensional World ex U.S. Core Equity 2 ETF

DFAXBNYSE Arca

SP Funds S&P World (ex-US) ETF

SPWO—NYSE Arca

Overlap

11.4%by weight

Expense ratio

DFAX −0.27pt a year

DFAX0.28%SPWO0.55%

Avg volume · 30D

DFAX 10.9×the volume

DFAX721KSPWO66.3K

DFAX vs SPWO Performance

Oct 31, 2025 – Oct 30, 2026

+15.7%DFAX+14.4%SPWO

Expense ratio: DFAX 0.28%, better; SPWO 0.55%
Fund size: DFAX $12.1B; SPWO $245M
1Y total return: DFAX +15.7%, better; SPWO +14.4%
Yield (12M): DFAX 2.50%, better; SPWO 1.14%
Holdings: DFAX 10528; SPWO 387
Avg volume (30D): DFAX 721K sh, better; SPWO 66.3K sh
NAV per share: DFAX $35.90; SPWO $31.99
52W range

ETF.net Grade

—SPWOMandate not yet analyzed

Pillar letters and Scores for DFAX, SPWO, with each pillar’s weight
Pillar	DFAX	SPWO
Cost30% weight	C45	Not scored
Mission25% weight	A100	Not scored
Risk15% weight	C53	Not scored
Tradability15% weight	C50	Not scored
Holdings10% weight	A85	Not scored
Durability5% weight	C51	Not scored

Rank among Total International Market funds

How we build Categories ›

Total International Market⁠

Category · 8 funds

See all 8 ›

DFAX ranks 4th of 8 funds in the Total International Market Category.

Rank 1AVXUSVanguard Total International Stock ETFScore 80
Rank 2AVEUVanguard FTSE All-World ex-US ETFScore 79
Rank 3AIXUSiShares Core MSCI Total International Stock ETFScore 76
Rank 4BDFAXDimensional World ex U.S. Core Equity 2 ETFScore 64
Rank 5BACWXiShares MSCI ACWI ex U.S. ETFScore 58
SPWONot yet graded

DFAX vs SPWO Holdings

How DFAX and SPWO differ

Overlap by weight

11.4%

Shared holdings make up 68.2% of SPWO and 11.7% of DFAX.

Level by level

Holdings198 in both11.4%
Sector11 Sectors60.4%
Countryby domicile72.5%
Asset classEquity100%

Sector

Sector weights in DFAX and SPWO, widest gap first
Sector	More in DFAXMore in SPWO	DFAX	SPWO
Technology	SPWO +35.4 points	18.2%	53.6%
Financials	DFAX +19.0 points	19.9%	0.9%
Industrials	DFAX +4.7 points	16.0%	11.3%
Energy	DFAX +4.5 points	7.0%	2.5%
Health Care	SPWO +4.3 points	6.2%	10.5%
Materials	DFAX +3.9 points	10.7%	6.8%
Utilities	DFAX +2.6 points	2.9%	0.3%
Communication	DFAX +2.3 points	3.9%	1.6%
Consumer Staples	DFAX +1.2 points	5.0%	3.8%
Real Estate	DFAX +1.1 points	1.6%	0.5%
Consumer Discretionary	DFAX +0.2 points	8.5%	8.3%

Country, concentration and asset class

Country by domicile

Country weights in DFAX and SPWO, widest gap first
Country	More in DFAXMore in SPWO	DFAX	SPWO
Taiwan	SPWO +20.8 points	11.8%	32.6%
Japan	DFAX +5.0 points	16.3%	11.3%
India	DFAX +3.8 points	4.5%	0.7%
United Kingdom	DFAX +2.4 points	6.6%	4.2%
Switzerland	SPWO +2.4 points	5.1%	7.5%
Germany	DFAX +2.3 points	4.8%	2.5%
South Korea	SPWO +2.2 points	6.0%	8.2%
Italy	DFAX +1.8 points	2.2%	0.4%
Other countries (31)	DFAX +9.8 points	42.5%	32.7%

Outside the US: DFAX 64% developed, 36% emerging. SPWO 47% developed, 53% emerging.

Concentration

Weight in the 10 largest Holdings

DFAX8.9%
SPWO40.6%

Securities held

DFAX10,488
SPWO380

Asset class

DFAX: Equity
SPWO: Equity

Holdings

Only in DFAX10,290
In both198
Only in SPWO182

Only in DFAX

10,290 securities, 88.2% of DFAX by weight

Taiwan Semiconductor Manu2.43%
Asml Holding NV0.76%
Totalenergies SE0.58%
Shell PLC0.55%
Roche Holding AG0.43%
Tencent Holdings Ltd0.39%
Toyota Motor Corp0.38%
Nestle SA0.38%
Royal Bank of Canada0.35%
Samsung Electronics Co Lt0.31%
Allianz SE0.31%
Advantest Corp0.30%
Shell PLC0.28%
Bp PLC0.28%
Mitsubishi Ufj Financial0.26%
Royal Bank of Canada0.25%
Sony Group Corp0.25%
Bayer AG0.24%
Canadian Natural Resource0.24%
Deutsche Telekom AG0.24%
Bhp Group Ltd0.24%
Suncor Energy Inc.0.23%
Hitachi Ltd0.22%
Hsbc Holdings PLC0.22%
Unicredit Spa0.22%
China Construction Bank C0.21%
Recruit Holdings Co Ltd0.21%
Basf SE0.20%
Rolls-Royce Holdings PLC0.20%
Eni Spa0.20%
Nan Ya Plastics Corp0.20%
Engie SA0.20%
Infineon Technologies AG0.20%
Banco Bilbao Vizcaya Arge0.19%
Ase Technology Holding Co0.19%
E.on SE0.19%
Muenchener Rueckversicher0.17%
Repsol SA0.17%
Dhl AG0.17%
Alibaba Group Holding Ltd0.16%
Banco Santander SA0.16%
Siemens AG0.16%
Commerzbank Ag-Tend0.16%
Swiss Re AG0.16%
Rheinmetall AG0.16%
Lenovo Group Ltd0.15%
Orange SA0.15%
Standard Chartered PLC0.15%
Barrick Mining Corp0.15%
Cenovus Energy Inc0.15%

Only in SPWO

182 securities, 31.5% of SPWO by weight

Roche Holding AG1.65%
Nestle SA1.27%
Recruit Holdings Co Ltd0.82%
Advantest Corp0.76%
Tokyo Electron Ltd0.71%
Hitachi Ltd0.69%
Schneider Electric SE0.69%
Xiaomi Corp0.68%
Air Liquide SA0.62%
Meituan0.60%
Al Rajhi Bank0.56%
L'Oreal SA0.53%
Cie Financiere Richemont SA0.52%
Siemens Energy AG0.51%
Fast Retailing Co Ltd0.49%
Saudi Arabian Oil Co0.48%
Gsk PLC0.48%
Kioxia Holdings Corp0.41%
BYD Co Ltd0.38%
Murata Manufacturing Co Ltd0.34%
Industria de Diseno Textil SA0.34%
Shin-Etsu Chemical Co Ltd0.33%
CSL Ltd0.33%
Delta Electronics Thailand PCL0.33%
EssilorLuxottica SA0.31%
Wesfarmers Ltd0.30%
SK Square Co Ltd0.29%
Hoya Corp0.28%
Mitsubishi Electric Corp0.28%
Lonza Group AG0.26%
Saudi Telecom Co0.25%
Saudi Arabian Mining Co0.24%
Atlas Copco AB0.24%
Waste Connections Inc0.24%
Hermes International SCA0.24%
Wuxi Biologics Cayman Inc0.24%
Reckitt Benckiser Group PLC0.22%
China Shenhua Energy Co Ltd0.22%
Assa Abloy AB0.21%
Fujitsu Ltd0.20%
Sandvik AB0.20%
Givaudan SA0.20%
Goodman Group0.20%
Dsv A/S0.20%
Legrand SA0.20%
Ucb SA0.20%
Experian PLC0.19%
ASPEED Technology Inc0.19%
Alcon AG0.19%
Sika AG0.18%

Weight gaps

The 100 widest of 198 Holdings in both funds.

Holding weights in DFAX and SPWO, widest gap first
Holding	More in DFAXMore in SPWO	DFAX	SPWO
Taiwan Semiconductor ManuTSM	SPWO +19.23 points	1.05%	20.28%
Asml Holding NV	SPWO +2.89 points	0.02%	2.91%
Alibaba Group HldBABA	SPWO +2.78 points	0.04%	2.82%
Samsung Electronics Co	SPWO +2.44 points	1.25%	3.69%
Sk Hynix Inc	SPWO +2.19 points	0.79%	2.98%
Mediatek Inc	SPWO +1.96 points	0.24%	2.20%
Astrazeneca PLCAZN	SPWO +1.18 points	0.20%	1.38%
Sap SESAP	SPWO +1.15 points	<0.01%	1.15%
Shopify Inc	SPWO +0.91 points	<0.01%	0.91%
Delta Electronics Inc	SPWO +0.83 points	0.07%	0.90%
Bhp Group LtdBHP	SPWO +0.83 points	0.15%	0.98%
Ase Technology Holding CoASX	SPWO +0.79 points	0.03%	0.82%
Novartis AG AdrNVS	SPWO +0.72 points	0.69%	1.41%
Novo Nordisk A/S-AdrNVO	SPWO +0.59 points	0.02%	0.61%
Unilever PLCUL	SPWO +0.57 points	0.10%	0.67%
Canadian Natural Resource	SPWO +0.55 points	<0.01%	0.55%
Infosys LtdINFY	SPWO +0.47 points	0.03%	0.50%
SanofiSNY	SPWO +0.46 points	<0.01%	0.46%
United Microelectronics CUMC	SPWO +0.46 points	0.01%	0.47%
Abb Ltd	SPWO +0.46 points	0.17%	0.63%
Elite Material Co Ltd	SPWO +0.45 points	0.08%	0.53%
Keyence Corp	SPWO +0.43 points	0.04%	0.47%
Suncor Energy Inc	SPWO +0.38 points	0.06%	0.44%
Grupo Mexico Sab De Cv	SPWO +0.38 points	0.06%	0.44%
Canadian Pacific Kansas C	SPWO +0.37 points	0.01%	0.38%
Infineon Technologies AGIFNNY	SPWO +0.35 points	0.01%	0.36%
Rio Tinto PLC AdrRIO	SPWO +0.33 points	0.09%	0.42%
Canadian National Railway	SPWO +0.32 points	<0.01%	0.32%
Beigene LtdONC	SPWO +0.30 points	<0.01%	0.31%
Relx PLCRELX	SPWO +0.29 points	0.04%	0.33%
Agnico Eagle Mines Ltd	SPWO +0.28 points	0.12%	0.40%
Gold Fields LtdGFI	SPWO +0.27 points	0.08%	0.35%
Unimicron Technology Corp	SPWO +0.26 points	0.23%	0.49%
Wheaton Precious Metals C	SPWO +0.25 points	<0.01%	0.25%
Mitsubishi Heavy Industri	SPWO +0.25 points	0.10%	0.35%
Trip.com Group Ltd	SPWO +0.24 points	0.04%	0.28%
Argenx SEARGX	SPWO +0.24 points	0.02%	0.26%
Asia Vital Components Co	SPWO +0.23 points	0.15%	0.38%
Accton Technology Corp	SPWO +0.23 points	0.07%	0.30%
Nokia Corp-Spon AdrNOK	SPWO +0.22 points	0.00%	0.22%
Ferrari NV	SPWO +0.22 points	<0.01%	0.23%
Chunghwa Telecom Co LtdCHT	SPWO +0.21 points	<0.01%	0.22%
Chroma Ate Inc	SPWO +0.20 points	0.05%	0.25%
Constellation Software In	SPWO +0.19 points	0.05%	0.24%
Valterra Platinum Limited	SPWO +0.19 points	0.01%	0.20%
King Slide Works Co Ltd	SPWO +0.18 points	0.06%	0.24%
Haleon PLCHLN	SPWO +0.18 points	<0.01%	0.18%
Sandoz Group AGSDZNY	SPWO +0.17 points	0.05%	0.22%
Allegro.eu SA	SPWO +0.18 points	<0.01%	0.19%
Galderma Group AG	SPWO +0.17 points	0.05%	0.22%
Cenovus Energy Inc	SPWO +0.18 points	0.03%	0.21%
Wiwynn Corp	SPWO +0.17 points	0.06%	0.23%
Innovent Biologics Inc	SPWO +0.16 points	<0.01%	0.17%
Jentech Precision Industr	SPWO +0.17 points	0.03%	0.20%
Global Unichip Corp	SPWO +0.16 points	0.07%	0.23%
Asustek Computer Inc	SPWO +0.16 points	0.07%	0.23%
Fujikura Ltd	SPWO +0.16 points	0.05%	0.21%
Emaar Properties Pjsc	SPWO +0.15 points	0.08%	0.23%
Weg SA	SPWO +0.14 points	<0.01%	0.15%
Dsm-Firmenich AG	SPWO +0.13 points	0.02%	0.15%
Pharmaessentia Corp	SPWO +0.12 points	0.03%	0.15%
Tesco PLCTS	DFAX +0.12 points	0.17%	0.05%
Samsung Electro-Mechanics	SPWO +0.12 points	0.13%	0.25%
Imperial Oil Ltd	SPWO +0.11 points	<0.01%	0.11%
Dollarama Inc	SPWO +0.11 points	0.08%	0.19%
Asm International NV	SPWO +0.10 points	0.08%	0.18%
Pop Mart International Gr	SPWO +0.11 points	0.03%	0.14%
Lite-On Technology Corp	SPWO +0.10 points	0.09%	0.19%
Nongfu Spring Co Ltd	SPWO +0.09 points	0.02%	0.11%
Aselsan Elektronik Sanayi	SPWO +0.10 points	<0.01%	0.10%
Celltrion Inc	SPWO +0.10 points	0.02%	0.12%
Rio Tinto Ltd	SPWO +0.10 points	0.10%	0.20%
Realtek Semiconductor Cor	SPWO +0.09 points	0.06%	0.15%
Airports of Thailand Pcl	SPWO +0.09 points	<0.01%	0.09%
H World Group LtdHTHT	SPWO +0.08 points	<0.01%	0.09%
Sumitomo Electric Industr	SPWO +0.08 points	0.09%	0.17%
Foxconn Industrial Intern	SPWO +0.08 points	0.01%	0.09%
Wuxi Apptec Co Ltd	SPWO +0.08 points	0.04%	0.12%
Wipro LtdWIT	SPWO +0.08 points	<0.01%	0.08%
Kinross Gold Corp	SPWO +0.08 points	0.05%	0.13%
Aena Sme SA	SPWO +0.07 points	0.04%	0.11%
Genmab A/S	SPWO +0.08 points	0.11%	0.19%
Advantech Co Ltd	SPWO +0.07 points	0.05%	0.12%
Novatek Microelectronics	SPWO +0.08 points	0.05%	0.13%
Dubai Electricity & Water	SPWO +0.08 points	<0.01%	0.08%
Doosan Enerbility	SPWO +0.08 points	0.01%	0.09%
Thomson Reuters Corp	SPWO +0.08 points	<0.01%	0.08%
Nan Ya Printed Circuit Bo	SPWO +0.08 points	0.03%	0.10%
Alchip Technologies Ltd	SPWO +0.07 points	0.03%	0.10%
Fisher & Paykel Healthcar	SPWO +0.07 points	0.01%	0.08%
Ptt Exploration & Product	SPWO +0.07 points	0.01%	0.08%
Coca-Cola Femsa Sab De CvKOF	SPWO +0.07 points	<0.01%	0.07%
Bid Corp Ltd	SPWO +0.07 points	0.04%	0.11%
SOUTH32 LtdSOUHY	SPWO +0.07 points	<0.01%	0.07%
Bizlink Holding Inc	SPWO +0.06 points	0.04%	0.10%
Cgi Inc	SPWO +0.06 points	0.02%	0.08%
Wsp Global Inc	SPWO +0.06 points	0.03%	0.09%
Zhongji Innolight Co Ltd	SPWO +0.07 points	0.01%	0.08%
Schindler Holding AG	SPWO +0.06 points	<0.01%	0.07%
Doctor Reddy's Lab-AdrRDY	SPWO +0.06 points	0.04%	0.10%

All 10,279 DFAX holdings⁠All 374 SPWO 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.

DFAX vs SPWO Cost

Overpaying SPWO vs DFAX

$5,149

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

DFAX 0.28%
$5,755
SPWO 0.55%
$10,904

Amount$10,000

Years30 years

Cost over time

DFAX 0.28%
SPWO 0.55%
Overpaying

Year by year

Year	DFAX	SPWO	Overpaying
10	$509	$988	$479
20	$1,976	$3,790	$1,814
30	$5,755	$10,904	$5,149

Expense ratio

0.28%DFAX, cheaper
0.55%SPWO

DFAX0.28%SPWO0.55%

0.04%0.55%

Middle half of Total International Market funds
Median 0.23%

DFAX 5th cheapest of 8 funds

SPWO 8th cheapest of 8 funds

DFAX vs SPWO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFAX 2.50%, better; SPWO 1.14%
Payout (12M): DFAX $0.89; SPWO $0.35
Last payment: DFAX $0.22; SPWO $0.03
Ex-dividend: DFAX Sep 22, 2026; SPWO Oct 27, 2026
Paid on: DFAX Sep 24, 2026; SPWO Oct 28, 2026
Frequency: DFAX Quarterly; SPWO Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DFAXQuarterly · 15 paymentsAll DFAX payments⁠

SPWOMonthly · 34 paymentsAll SPWO payments⁠

DFAX vs SPWO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFAX 12.3%SPWO 16.3%since Jan 2024
Return per unit of riskSharpe ratio, 3 years: DFAX 1.30SPWO 0.80since Jan 2024
Worst fallMax drawdown, 5 years: DFAX −27.8%SPWO −18.0%since Dec 2023
Market sensitivityBeta, 5 years: DFAX 0.97SPWO 0.93; Market = 1

DFAX and SPWO in the news

All news⁠

ETF Filings
SP Funds Trust files for two Shariah ETFs, U.S. Small Cap and Equity Income
Oct 12, 2026SPWO
New ETFs
Avantis lists an international stock ETF with Vanguard on top
Oct 5, 2026DFAX

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DFAX vs SPWO

How DFAX and SPWO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAX

Only in SPWO

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

SP Funds Trust files for two Shariah ETFs, U.S. Small Cap and Equity Income

Avantis lists an international stock ETF with Vanguard on top

How DFAX and SPWO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFAX

Only in SPWO

Weight gaps