DFIC vs IVSI: Grades, Fees and Holdings Compared

Dimensional International Core Equity 2 ETF

DFICACboe

Applied Finance IVS International Large ETF

IVSICNasdaq

Overlap

4.7%by weight

Expense ratio

DFIC −0.43pt a year

DFIC0.22%IVSI0.65%

Avg volume · 30D

DFIC 1414.3×the volume

DFIC1.87MIVSI1.32K

DFIC vs IVSI Performance

Dec 31, 2025 – Nov 5, 2026

+10.2%DFIC+13.0%IVSI

Expense ratio: DFIC 0.22%, better; IVSI 0.65%
Fund size: DFIC $15.4B; IVSI $10M
1Y total return: DFIC +16.7%; IVSI No data
Yield (12M): DFIC 2.56%; IVSI No data
Holdings: DFIC 4148; IVSI 204
Avg volume (30D): DFIC 1.87M sh, better; IVSI 1.32K sh
NAV per share: DFIC $37.82; IVSI $29.51
52W range

ETF.net Grade

Pillar letters and Scores for DFIC, IVSI, with each pillar’s weight
Pillar	DFIC	IVSI
Cost30% weight	A98Higher	D34
Mission25% weight	A100	Not scored
Risk15% weight	B67Higher	B64
Tradability15% weight	A81Higher	D36
Holdings10% weight	A91	Not scored
Durability5% weight	A90Higher	D30

Rank among International Active Equity funds

How we build Categories ›

Same Category. DFIC and IVSI are both graded against the same 55 International Active Equity funds, so their Grades compare head to head.

International Active Equity⁠

Category · 55 funds

See all 55 ›

DFIC ranks 1st and IVSI 35th of 55 funds in the International Active Equity Category.

Rank 1AAVDEAvantis International Equity ETFScore 87
Rank 1ADFICDimensional International Core Equity 2 ETFScore 87
Rank 3AJIREJPMorgan International Research Enhanced Equity ETFScore 79
Rank 35DHDMVFirst Trust Horizon Managed Volatility Developed International ETFScore 40
Rank 35CIVSIApplied Finance IVS International Large ETFScore 40
Rank 35CPIZInvesco Dorsey Wright Developed Markets Momentum ETFScore 40

Our read on each fund

ETF.net Research

DFICADimensional International Core Equity 2 ETF

IVSICApplied Finance IVS International Large ETF

In short

DFIC No data

IVSI A December 2025 arrival: Applied Finance picking large caps in developed markets outside the US, no index to shadow. Everything here is early days, from the track record to the asset base.

Stated mandate

DFIC No data

IVSI The Fund seeks long-term capital appreciation.

Why people hold it

DFIC No data

IVSI Simple mandate, plainly stated: long-term capital appreciation from developed markets outside the US, run actively rather than tracking a declared index.
Standard 1940 Act stock-fund wrapper, no leverage sleeve or structural quirks flagged in the filings.
At 0.65% a year, the fee sits close to what actively managed international ETFs typically charge, not at a boutique premium.

Worth knowing

DFIC No data

IVSI That 0.65% is roughly triple what broad systematic rivals charge (AVDE at 0.23%, DFIC at 0.22%), so the stock selection carries the whole cost gap.
Launched in December 2025, so there is no long record to judge and the risk picture rests on a very short history.
Small and thinly traded so far, which tends to mean wider spreads and more slippage between the price on screen and the basket underneath.

Full DFIC profile⁠

Full IVSI profile⁠

DFIC vs IVSI Holdings

How DFIC and IVSI differ

Overlap by weight

4.7%

Shared holdings make up 23.8% of IVSI and 5.0% of DFIC.

Level by level

Holdings21 in both4.7%
Countryby domicile77.7%
Sector11 Sectors82.6%
Asset classStocks100%

Sector

Sector weights in DFIC and IVSI, widest gap first
Sector	Gap	DFIC	IVSI
Health Care	IVSI +6.0 points	7.2%	13.2%
Technology	IVSI +5.9 points	8.4%	14.3%
Energy	DFIC +5.4 points	7.8%	2.4%
Materials	DFIC +4.7 points	11.0%	6.3%
Industrials	DFIC +4.0 points	19.3%	15.3%
Communication	IVSI +3.6 points	4.1%	7.7%
Utilities	DFIC +1.8 points	3.2%	1.4%
Consumer Staples	IVSI +1.6 points	6.3%	7.9%
Real Estate	DFIC +1.5 points	1.6%	0.1%
Consumer Discretionary	IVSI +0.2 points	9.4%	9.6%
Financials	IVSI +0.1 points	21.8%	21.9%

Country, concentration and asset class

Country by domicile

Country weights in DFIC and IVSI, widest gap first
Country	Gap	DFIC	IVSI
Canada	DFIC +11.4 points	11.4%	0.0%
United Kingdom	IVSI +5.0 points	11.4%	16.4%
Switzerland	IVSI +4.6 points	8.2%	12.8%
Netherlands	IVSI +4.3 points	3.6%	7.9%
Japan	DFIC +3.4 points	24.1%	20.7%
Sweden	IVSI +2.5 points	2.9%	5.4%
Denmark	IVSI +2.0 points	1.8%	3.8%
France	IVSI +2.0 points	6.2%	8.2%
Other countries (20)	DFIC +5.5 points	30.3%	24.8%

Outside the US: DFIC 98% developed, 2% emerging. IVSI 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

DFIC7.0%
IVSI25.6%

Securities held

DFIC4,127
IVSI199

Asset class

DFIC: Stocks
IVSI: Stocks

Holdings

Only in DFIC4,106
In both21
Only in IVSI178

Only in DFIC

4,106 securities, 94.6% of DFIC by weight

Novartis AG Adr0.78%
Totalenergies SE0.74%
Nestle SA0.68%
Royal Bank of Canada0.65%
Allianz SE0.52%
Toyota Motor Corp0.45%
Bayer AG0.41%
Deutsche Telekom AG0.40%
Hsbc Holdings PLC0.40%
Bp PLC0.39%
Rolls-Royce Holdings PLC0.39%
Bhp Group Ltd0.38%
Toronto-Dominion Bank0.37%
Unicredit Spa0.36%
Mitsubishi Ufj Financial0.34%
Basf SE0.34%
Canadian Natural Resource0.33%
Sony Group Corp0.33%
Tesco PLC0.32%
Dhl AG0.31%
Advantest Corp0.30%
Hitachi Ltd0.30%
Rio Tinto PLC0.29%
Engie SA0.29%
E.on SE0.29%
Infineon Technologies AG0.28%
Eni Spa0.28%
Recruit Holdings Co Ltd0.28%
Repsol SA0.27%
Orange SA0.27%
Siemens AG0.27%
Muenchener Rueckversicher0.26%
National Bank of Canada0.26%
Intact Financial Corp0.26%
Cenovus Energy Inc0.24%
Zurich Insurance Group AG0.24%
Tokyo Electron Ltd0.24%
Cie De Saint-Gobain0.23%
Standard Chartered PLC0.23%
Barrick Mining Corp0.23%
Fairfax Financial Holding0.23%
Vinci SA0.23%
Ubs Group AG0.23%
Anheuser-Busch Inbev Sa/N0.23%
Aib Group PLC0.23%
Barclays PLC0.23%
Swiss Re AG0.23%
Dbs Group Holdings Ltd0.22%
Tokio Marine Holdings Inc0.22%
Agnico Eagle Mines Ltd0.22%

Only in IVSI

178 securities, 75.7% of IVSI by weight

Novartis Ag-Reg2.55%
Deutsche Telekom Ag-Reg2.28%
Mitsubishi Ufj Financial Gro2.27%
Novo Nordisk A/S-B1.89%
Allianz SE1.73%
British American Tobacco PLC1.56%
Recruit Holdings Co Ltd1.46%
Sumitomo Mitsui Financial Gr1.35%
Hsbc Holdings PLC1.33%
Nestle Sa-Reg1.32%
Unilever PLC Common Stock Gbp 0.0311111.26%
Assa Abloy AB1.12%
Munich Reinsurance Company1.06%
Gsk PLC1.02%
Atlas Copco Ab-A Shs0.97%
Tokio Marine Holdings Inc0.95%
Ap Moller - Maersk A/S B0.83%
Softbank Corp0.81%
Itochu Corp0.78%
Lvmh Moet Hennessy Louis Vui0.78%
Vinci SA0.76%
Intesa Sanpaolo0.75%
Axa0.75%
Advantest Corp0.74%
Compass Group PLC Common Stock GBP.11050.73%
Relx PLC0.73%
Ericsson Lm-B Shs0.73%
3I Group PLC0.72%
Imperial Brands PLC0.71%
Industria De Diseno Textil0.71%
Pandora A/S0.70%
Hermes International0.69%
Totalenergies SE0.69%
Prosus /Eur/0.67%
Zurich Insurance Group AG0.67%
Abb Ltd-Reg0.62%
Ubs Group Ag-Reg0.58%
Tokyo Electron Ltd0.57%
E.on SE Common Stock0.56%
Hannover Ruck SE0.54%
Enel SpA0.52%
Kbc Group NV0.52%
Toyota Motor Corp0.51%
Safran SA0.50%
Bae Systems0.50%
QBE Insurance Group Limited0.50%
Spotify Technology SA0.50%
Kddi Corp0.49%
MS&AD Insurance Group Holdin0.48%
Dai-Ichi Life Insurance0.48%

Weight gaps

All 21 Holdings in both funds, largest gap first.

Holding weights in DFIC and IVSI, widest gap first
Holding	Gap	DFIC	IVSI
Asml Holding NVASML	IVSI +3.32 points	0.97%	4.29%
Roche Holding AG	IVSI +3.12 points	0.69%	3.81%
Bhp Group LtdBHP	IVSI +2.58 points	0.24%	2.82%
Astrazeneca PLCAZN	IVSI +2.06 points	0.36%	2.42%
Or Royalties IncOR	IVSI +1.37 points	0.03%	1.40%
Banco Santander SASAN	IVSI +1.34 points	0.08%	1.42%
Reckitt Benckiser Group PRKT.L	IVSI +0.77 points	0.17%	0.94%
Intercontinental Hotels GIHG	IVSI +0.63 points	0.05%	0.68%
Coca-Cola Europacific ParCCEP	IVSI +0.53 points	0.05%	0.58%
Kioxia Holdings Corp	IVSI +0.53 points	0.04%	0.57%
Equinor AsaEQNR	IVSI +0.50 points	<0.01%	0.50%
Suncor Energy Inc.SU	IVSI +0.48 points	0.38%	0.86%
Banco Bilbao Vizcaya ArgeBBVA	IVSI +0.44 points	0.43%	0.87%
Shell PLCSHEL	DFIC +0.32 points	1.08%	0.76%
Iamgold CorpIAG	IVSI +0.30 points	0.12%	0.42%
Galderma Group AG	IVSI +0.26 points	0.09%	0.35%
Aercap Holdings NVAER	IVSI +0.20 points	0.01%	0.21%
Avino Silver & Gold MinesASM	IVSI +0.18 points	<0.01%	0.18%
Ferrari NVRACE	IVSI +0.16 points	0.06%	0.22%
Ferrovial SEFER	IVSI +0.15 points	<0.01%	0.16%
Anglo American Ord NpvAAL.L	IVSI +0.14 points	0.17%	0.31%

All 4,139 DFIC holdings⁠All IVSI 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.

DFIC vs IVSI Cost

Overpaying IVSI vs DFIC

$8,159

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

DFIC 0.22%
$4,558
IVSI 0.65%
$12,717

Amount$10,000

Years30 years

Cost over time

DFIC 0.22%
IVSI 0.65%
Overpaying

Year by year

Year	DFIC	IVSI	Overpaying
10	$401	$1,163	$762
20	$1,561	$4,440	$2,879
30	$4,558	$12,717	$8,159

Expense ratio

0.22%DFIC, cheaper
0.65%IVSI

DFIC0.22%IVSI0.65%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

DFIC 2nd cheapest of 55 funds

IVSI 36th cheapest of 55 funds

DFIC vs IVSI Dividends

Last 12 months to Nov 5, 2026

Yield (12M): DFIC 2.56%; IVSI No data
Payout (12M): DFIC $0.96; IVSI No data
Last payment: DFIC $0.19; IVSI $0.01
Ex-dividend: DFIC Sep 22, 2026; IVSI Dec 24, 2025
Paid on: DFIC Sep 24, 2026; IVSI Dec 26, 2025
Frequency: DFIC Quarterly; IVSI Irregular

Distribution history

Per share, 2022 to 2026, same scale for both

DFICQuarterly · 18 paymentsAll DFIC payments⁠

IVSIIrregular · 1 paymentAll IVSI payments⁠

DFIC vs IVSI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFIC 11.9%IVSI No data
Return per unit of riskSharpe ratio, 3 years: DFIC 1.35IVSI No data
Worst fallMax drawdown, 5 years: DFIC −24.4%since Mar 2022IVSI No data
Market sensitivityBeta, 5 years: DFIC 0.92IVSI 0.57; Market = 1

DFIC and IVSI in the news

All news⁠

ETF Filings
Causeway files its first ETFs into a 0.22% to 0.39% category, its own fee blank
Sep 18, 2026DFIC

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DFIC vs IVSI

In short

Stated mandate

Why people hold it

Worth knowing

How DFIC and IVSI differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIC

Only in IVSI

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Causeway files its first ETFs into a 0.22% to 0.39% category, its own fee blank