DFEV vs EMGF: Grades, Fees and Holdings Compared

Dimensional Emerging Markets Value ETF

DFEVBNYSE Arca

iShares Emerging Markets Equity Factor ETF

EMGFACboe

Overlap

32.2%by weight

Expense ratio

EMGF −0.17pt a year

DFEV0.43%EMGF0.26%

Avg volume · 30D

DFEV 1.8×the volume

DFEV284KEMGF156K

3Y return · a year

DFEV +0.8pt

DFEV+23.9%EMGF+23.1%

DFEV vs EMGF Performance

Oct 31, 2025 – Oct 30, 2026

+21.7%DFEV+14.5%EMGF

Expense ratio: DFEV 0.43%; EMGF 0.26%, better
Fund size: DFEV $2.14B; EMGF $1.79B
1Y total return: DFEV +21.7%, better; EMGF +14.5%
Yield (12M): DFEV 2.25%, better; EMGF 2.19%
Holdings: DFEV 3533; EMGF 740
Avg volume (30D): DFEV 284K sh, better; EMGF 156K sh
NAV per share: DFEV $39.73; EMGF $65.41
52W range

ETF.net Grade

Pillar letters and Scores for DFEV, EMGF, with each pillar’s weight
Pillar	DFEV	EMGF
Cost30% weight	C53	A92Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B56Higher	C43
Tradability15% weight	A82	A94Higher
Holdings10% weight	A73Higher	C48
Durability5% weight	A70	A89Higher

Rank among Emerging Markets Multifactor funds

How we build Categories ›

Same Category. DFEV and EMGF are both graded against the same 20 Emerging Markets Multifactor funds, so their Grades compare head to head.

Emerging Markets Multifactor⁠

Category · 20 funds

See all 20 ›

EMGF ranks 1st and DFEV 5th of 20 funds in the Emerging Markets Multifactor Category.

Rank 1AEMGFiShares Emerging Markets Equity Factor ETFScore 76
Rank 2AAVESAvantis Emerging Markets Value ETFScore 71
Rank 4BQEMMState Street SPDR MSCI Emerging Markets StrategicFactors ETFScore 64
Rank 5BDFEVDimensional Emerging Markets Value ETFScore 63
Rank 6BJPEMJPMorgan Diversified Return Emerging Markets Equity ETFScore 62

Our read on each fund

ETF.net Research

DFEVBDimensional Emerging Markets Value ETF

EMGFAiShares Emerging Markets Equity Factor ETF

In short

DFEV Dimensional's value take on emerging markets: roughly 3,200 cheap stocks spread across countries and sectors, picked actively rather than copied from an index. Fee is 0.43% net of a waiver through February 28, 2027.

EMGF Emerging markets, sorted by factor screen instead of straight market cap. EMGF holds roughly 700 large- and mid-cap EM stocks picked for style-factor exposure, and charges 0.26% doing it, about half the multifactor EM norm.

Stated mandate

DFEV The ETF seeks long-term capital appreciation. It uses an integrated, actively managed approach to invest in emerging-market equity securities selected for value characteristics while diversifying across countries, sectors, and companies.

EMGF EMGF seeks to follow an index of large- and mid-capitalization emerging-market stocks selected for favorable exposure to specified style factors, subject to constraints.

Why people hold it

DFEV Roughly 3,200 holdings across emerging-market countries, sectors and companies, so no single stock or country steers the whole portfolio.
Active by design: the team buys stocks it judges to be low relative price, instead of waiting on an index committee's reset calendar.
Since its 2022 launch it has grown into a multi-billion-dollar fund that trades at moderate volume, and it pays shareholders quarterly.
One of the stronger implementations in the emerging-market factor peer group, which is crowded with funds chasing the same cheap-stock premium.

EMGF 0.26% a year, versus a 0.48% median across multifactor EM funds. It undercuts AVES, JPEM, ROAM and QEMM on fee.
Roughly 700 large- and mid-cap names, so the factor tilts sit on a broad base rather than a handful of concentrated bets.
Running since 2015 as a billion-dollar-plus iShares fund, with steady enough volume for routine retail orders.
On cost and ease of trading, one of the stronger builds in the multifactor emerging-markets group.

Worth knowing

DFEV 0.43% net of a waiver through February 28, 2027 (0.46% gross) sits near the category median, but above factor rivals AVES at 0.36% and EMGF at 0.26%.
The value tilt is the whole point, which means the portfolio can look and behave very differently from a standard emerging-markets index.
Emerging-market equity carries currency, political and liquidity risk; wide diversification spreads single-name risk, not the asset class's own.

EMGF Factor tilts mean the portfolio can drift well away from a plain cap-weighted EM index, in either direction, for long stretches.ishares.com
Emerging-market equity carries currency swings and country-level political risk on top of normal stock risk. Volatility here sits at the rougher end of its peer group.ishares.com
Distributions land annually or semiannually, not monthly, so it is not built as an income drip.

Full DFEV profile⁠

Full EMGF profile⁠

DFEV vs EMGF Holdings

How DFEV and EMGF differ

Overlap by weight

32.2%

Shared holdings make up 57.4% of EMGF and 52.9% of DFEV.

Level by level

Holdings282 in both32.2%
Sector11 Sectors83.2%
Countryby domicile92.6%
Asset classEquity100%

Sector

Sector weights in DFEV and EMGF, widest gap first
Sector	More in DFEVMore in EMGF	DFEV	EMGF
Technology	EMGF +8.7 points	31.4%	40.1%
Financials	DFEV +4.7 points	24.8%	20.1%
Communication	EMGF +4.0 points	2.4%	6.4%
Energy	DFEV +4.0 points	7.6%	3.6%
Materials	DFEV +3.6 points	9.1%	5.5%
Industrials	DFEV +3.2 points	9.8%	6.6%
Real Estate	DFEV +1.5 points	2.3%	0.8%
Consumer Discretionary	EMGF +1.4 points	7.0%	8.4%
Utilities	EMGF +1.3 points	0.8%	2.1%
Consumer Staples	EMGF +0.8 points	2.6%	3.4%
Health Care	EMGF +0.5 points	2.4%	2.9%

Country, concentration and asset class

Country by domicile

Country weights in DFEV and EMGF, widest gap first
Country	More in DFEVMore in EMGF	DFEV	EMGF
China	EMGF +2.9 points	19.9%	22.8%
South Africa	EMGF +2.2 points	3.9%	6.1%
India	EMGF +2.0 points	11.7%	13.7%
Taiwan	DFEV +1.9 points	32.2%	30.3%
South Korea	DFEV +1.1 points	20.4%	19.3%
Malaysia	DFEV +1.1 points	1.1%	0.0%
Greece	DFEV +0.8 points	0.8%	0.0%
United States	DFEV +0.7 points	0.7%	0.0%
Other countries (11)	DFEV +1.4 points	9.3%	7.9%

Outside the US: DFEV 0% developed, 100% emerging. EMGF 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

DFEV17.6%
EMGF30.5%

Securities held

DFEV3,504
EMGF718

Asset class

DFEV: Equity
EMGF: Equity

Holdings

Only in DFEV3,222
In both282
Only in EMGF436

Only in DFEV

3,222 securities, 47.1% of DFEV by weight

Samsung Electronics Co Lt1.47%
Reliance Industries Ltd1.43%
Ase Technology Holding Co0.90%
Axis Bank Ltd0.77%
Hdfc Bank Ltd0.70%
United Microelectronics C0.57%
The Saudi National Bank0.52%
Petroleo Brasileiro SA0.51%
Petroleo Brasileiro SA0.50%
Vale SA0.47%
Tata Steel Ltd0.45%
Hindalco Industries Ltd0.40%
Absa Group Ltd0.30%
China Resources Land Ltd0.30%
Kotak Mahindra Bank Ltd0.23%
Saudi Awwal Bank0.21%
Evergreen Marine Corp Tai0.21%
Samvardhana Motherson Int0.20%
Jsw Steel Ltd0.19%
Alpha Bank SA0.18%
Grasim Industries Ltd0.18%
Saudi Basic Industries Co0.18%
Citic Ltd0.18%
Reliance Industries Ltd0.17%
Indus Towers Ltd0.17%
China Mengniu Dairy Co Lt0.17%
Federal Bank Ltd0.17%
Kb Financial Group Inc0.16%
Shinhan Financial Group C0.16%
Bangkok Bank Pcl0.15%
Banco Santander Brasil SA0.15%
Sk Innovation Co Ltd0.15%
China Tower Corp Ltd0.15%
Aurobindo Pharma Ltd0.14%
Samsung Sds Co Ltd0.14%
Formosa Plastics Corp0.14%
Iteq Corp0.14%
Kakao Corp0.13%
Grupo Bimbo Sab De Cv0.13%
Globalwafers Co Ltd0.13%
Mobile Telecommunications0.13%
Old Mutual Ltd0.13%
Abu Dhabi Commercial Bank0.13%
Pge Polska Grupa Energety0.13%
Au Optronics Corp0.12%
Korea Zinc Co Ltd0.12%
Astra International Tbk P0.12%
Wpg Holdings Ltd0.12%
Alpha Dhabi Holding Pjsc0.12%
Gigabyte Technology Co Lt0.12%

Only in EMGF

436 securities, 42.2% of EMGF by weight

Tencent Holdings2.51%
Delta Electronics0.73%
Samsung Electronics Non Voting Pre0.66%
Icici Bank0.64%
Pdd Holdings Ads0.56%
Sk Square0.53%
Reliance Industries Ltd0.53%
Infosys0.46%
Hdfc Bank0.45%
Netease0.45%
Tata Consultancy Services Ltd0.44%
Elite Material0.40%
Nu Holdings Class A0.35%
Bharti Airtel Ltd0.35%
Xiaomi0.34%
Saudi Arabian Oil0.34%
Global Unichip0.32%
Boc Hong Kong Holdings Ltd0.32%
Accton Technology0.32%
Asia Vital Components0.32%
Meituan0.31%
International Games System Ltd0.30%
Emirates Integrated Telecommunicat0.29%
Ge Vernova T&D India Ltd0.28%
Aspeed Technology0.27%
Anglogold Ashanti PLC0.27%
Coca-Cola Femsa Class Ubl Units0.27%
Delta Electronics (Thailand) Non-V0.27%
Indian Railway Finance Corp Ltd0.27%
B3 Brasil Bolsa Balcao SA0.27%
Lupin0.25%
Chroma Ate0.25%
America Movil B0.24%
Kuwait Finance House0.24%
Titan Company Ltd0.24%
King Slide Works0.23%
Nongfu Spring Ltd H0.23%
Bharat Electronics Ltd0.22%
Ambev SA0.22%
China Life Insurance Ltd H0.21%
Sal Saudi Logistics Service Co0.21%
Cummins India Ltd0.21%
Saudi Energy0.21%
Hcl Technologies Ltd0.21%
Lpp SA0.21%
International Container Terminal’s0.20%
Beone Medicines AG0.20%
Kweichow Moutai A0.20%
Otp Bank0.20%
Hindustan Aeronautics Ltd0.20%

Weight gaps

The 100 widest of 282 Holdings in both funds.

Holding weights in DFEV and EMGF, widest gap first
Holding	More in DFEVMore in EMGF	DFEV	EMGF
Taiwan Semiconductor Manu	EMGF +9.78 points	0.55%	10.33%
Samsung Electronics Co	EMGF +5.23 points	0.93%	6.16%
China Construction Bank C	DFEV +1.26 points	2.47%	1.21%
Alibaba Group Holding Ltd	EMGF +1.17 points	0.65%	1.82%
Hon Hai Precision Industr	DFEV +1.02 points	1.82%	0.80%
Orlen SA	DFEV +0.63 points	0.73%	0.10%
Petrochina Co Ltd	DFEV +0.61 points	0.75%	0.14%
Emaar Properties Pjsc	DFEV +0.56 points	0.74%	0.18%
Industrial & Commercial B	DFEV +0.55 points	1.42%	0.87%
Sk Hynix Inc	DFEV +0.52 points	4.95%	4.43%
State Bank of India	DFEV +0.51 points	0.56%	0.05%
Quanta Computer Inc	DFEV +0.43 points	0.66%	0.23%
Samsung Electro-Mechanics	EMGF +0.42 points	0.01%	0.43%
Unimicron Technology Corp	DFEV +0.41 points	0.73%	0.32%
Mediatek Inc	EMGF +0.39 points	1.20%	1.59%
Vale SA	EMGF +0.38 points	0.07%	0.45%
Fubon Financial Holding C	DFEV +0.37 points	1.00%	0.63%
Trip.com Group Ltd	DFEV +0.37 points	0.41%	0.04%
Wistron Corp	DFEV +0.36 points	0.45%	0.09%
Sasol Ltd	DFEV +0.34 points	0.42%	0.08%
China Merchants Bank Co L	DFEV +0.34 points	0.48%	0.14%
Celltrion Inc	DFEV +0.33 points	0.39%	0.06%
Yageo Corp	DFEV +0.32 points	0.55%	0.23%
Taiwan Cooperative Financ	EMGF +0.31 points	0.10%	0.41%
Petroleo Brasileiro SA	DFEV +0.31 points	0.40%	0.09%
Grupo Mexico Sab De Cv	EMGF +0.30 points	0.00%	0.30%
Impala Platinum Holdings	DFEV +0.27 points	0.31%	0.04%
Nan Ya Plastics Corp	DFEV +0.27 points	0.70%	0.43%
China Petroleum & Chemica	DFEV +0.28 points	0.40%	0.12%
Naspers Npv	DFEV +0.27 points	0.51%	0.24%
Kgi Financial Holding Co	DFEV +0.26 points	0.43%	0.17%
Samsung Sdi Co Ltd	DFEV +0.26 points	0.40%	0.14%
Cathay Financial Holding	DFEV +0.25 points	0.61%	0.36%
Ctbc Financial Holding Co	DFEV +0.25 points	0.76%	0.51%
Agricultural Bank of Chin	DFEV +0.24 points	0.45%	0.21%
Bank of China Ltd	DFEV +0.24 points	0.95%	0.71%
Ping An Insurance Group C	DFEV +0.23 points	0.59%	0.36%
Zhen Ding Technology Hold	DFEV +0.23 points	0.29%	0.06%
Woori Financial Group Inc	DFEV +0.23 points	0.28%	0.05%
Sk Inc	DFEV +0.22 points	0.34%	0.12%
Hyundai Motor Co	DFEV +0.22 points	0.54%	0.32%
Lg Electronics Inc	DFEV +0.23 points	0.31%	0.08%
Lite-On Technology Corp	DFEV +0.21 points	0.41%	0.20%
Uni-President Enterprises	DFEV +0.21 points	0.30%	0.09%
Largan Precision Co Ltd	DFEV +0.21 points	0.35%	0.14%
Larsen & Toubro Ltd	EMGF +0.20 points	0.08%	0.28%
National Bank of Greece’s	EMGF +0.20 points	0.04%	0.24%
Nanya Technology Corp	DFEV +0.20 points	0.44%	0.24%
Fomento Economico Mexican	EMGF +0.19 points	0.05%	0.24%
Kinsus Interconnect Techn	DFEV +0.19 points	0.27%	0.08%
Ts Financial Holding Co	DFEV +0.18 points	0.49%	0.31%
Ptt Pcl	DFEV +0.19 points	0.27%	0.08%
Kghm Polska Miedz SA	DFEV +0.19 points	0.24%	0.05%
United Integrated Service	EMGF +0.18 points	0.01%	0.19%
Hana Financial Group Inc	DFEV +0.18 points	0.50%	0.32%
Emaar Development Pjsc	EMGF +0.17 points	0.03%	0.20%
Krung Thai Bank Pcl	EMGF +0.18 points	0.03%	0.21%
Naver Corp	DFEV +0.17 points	0.31%	0.14%
Huatai Securities Co Ltd	EMGF +0.17 points	0.01%	0.18%
Ooredoo Qpsc	EMGF +0.17 points	0.07%	0.24%
Lg Chem Ltd	DFEV +0.17 points	0.18%	0.01%
Mtn Group Ltd	EMGF +0.16 points	0.07%	0.23%
Winbond Electronics Corp	DFEV +0.16 points	0.35%	0.19%
Kb Financial Group Inc	DFEV +0.16 points	0.55%	0.39%
China Citic Bank Corp Ltd	DFEV +0.15 points	0.18%	0.03%
Ptt Exploration & Product	EMGF +0.16 points	0.01%	0.17%
Hd Korea Shipbuild & Offs	DFEV +0.15 points	0.21%	0.06%
Midea Group Co Ltd	EMGF +0.16 points	<0.01%	0.16%
Novatek Microelectronics	EMGF +0.15 points	0.25%	0.40%
Asustek Computer Inc	DFEV +0.15 points	0.40%	0.25%
Mesaieed Petrochemical Ho	EMGF +0.15 points	0.02%	0.17%
Taiwan Mobile Co Ltd	DFEV +0.15 points	0.21%	0.06%
Sabic Agri Nutrients	EMGF +0.14 points	0.00%	0.14%
Zto Express Cayman Inc	DFEV +0.14 points	0.18%	0.04%
Gerdau SA	EMGF +0.13 points	0.03%	0.16%
Wiwynn Corp	EMGF +0.13 points	0.13%	0.26%
Natl Bk of Kuwait	EMGF +0.13 points	0.01%	0.14%
Komercni Banka As	EMGF +0.13 points	0.08%	0.21%
Wuxi Biologics	EMGF +0.13 points	<0.01%	0.13%
Samsung E&A Co Ltd	DFEV +0.13 points	0.18%	0.05%
Samsung Fire & Marine Ins	DFEV +0.12 points	0.25%	0.13%
Mpi Corp	DFEV +0.12 points	0.21%	0.09%
Cemex Sab De CvCX	DFEV +0.12 points	0.26%	0.14%
King Yuan Electronics Co	DFEV +0.12 points	0.25%	0.13%
Petroleo Brasileiro SA	EMGF +0.12 points	0.35%	0.47%
Grupo Financiero Banorte	EMGF +0.12 points	0.05%	0.17%
Jd.com Inc	EMGF +0.12 points	0.10%	0.22%
Picc Property & Casualty	DFEV +0.12 points	0.21%	0.09%
Taiwan Union Technology C	DFEV +0.11 points	0.17%	0.06%
Banque Saudi Fransi	DFEV +0.11 points	0.16%	0.05%
Chongqing Rural Commercia	EMGF +0.11 points	0.05%	0.16%
China Merchants Securitie	EMGF +0.11 points	<0.01%	0.11%
Saci Falabella	EMGF +0.10 points	0.04%	0.14%
KT&G Corp	DFEV +0.10 points	0.33%	0.23%
Ase Technology Holding Co	DFEV +0.11 points	0.78%	0.67%
Compeq Manufacturing Co L	DFEV +0.11 points	0.16%	0.05%
Mahindra & Mahindra Ltd	EMGF +0.10 points	0.24%	0.34%
Nedbank Group Ltd	DFEV +0.10 points	0.20%	0.10%
Samsung Life Insurance Co	DFEV +0.09 points	0.25%	0.16%
Industrias Penoles Sab De	EMGF +0.10 points	<0.01%	0.10%

All 3,164 DFEV holdings⁠All 715 EMGF 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.

DFEV vs EMGF Cost

Overpaying DFEV vs EMGF

$3,304

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

DFEV 0.43%
$8,662
EMGF 0.26%
$5,358

Amount$10,000

Years30 years

Cost over time

DFEV 0.43%
EMGF 0.26%
Overpaying

Year by year

Year	DFEV	EMGF	Overpaying
10	$776	$473	$303
20	$2,994	$1,838	$1,156
30	$8,662	$5,358	$3,304

Expense ratio

0.43%DFEV
0.26%EMGF, cheaper

EMGF0.26%DFEV0.43%

0.18%0.80%

Middle half of Emerging Markets Multifactor funds
Median 0.44%

EMGF 3rd cheapest of 20 funds

DFEV 9th cheapest of 20 funds

DFEV vs EMGF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFEV 2.25%, better; EMGF 2.19%
Payout (12M): DFEV $0.89; EMGF $1.44
Last payment: DFEV $0.42; EMGF $0.61
Ex-dividend: DFEV Sep 22, 2026; EMGF Jun 15, 2026
Paid on: DFEV Sep 24, 2026; EMGF Jun 18, 2026
Frequency: DFEV Quarterly; EMGF Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DFEVQuarterly · 17 paymentsAll DFEV payments⁠

EMGFTwice a year · 21 paymentsAll EMGF payments⁠

DFEV vs EMGF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFEV 15.3%, betterEMGF 16.3%
Return per unit of riskSharpe ratio, 3 years: DFEV 1.19, betterEMGF 1.09
Worst fallMax drawdown, 5 years: DFEV −18.5%since Apr 2022EMGF −27.1%
Market sensitivityBeta, 5 years: DFEV 1.06EMGF 1.02; Market = 1

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