DFIC vs PQNT: Grades, Fees and Holdings Compared

Dimensional International Core Equity 2 ETF

DFICACboe

Pictet AI Enhanced International Equity ETF

PQNTBNYSE Arca

Overlap

23.9%by weight

Expense ratio

DFIC −0.08pt a year

DFIC0.22%PQNT0.30%

Avg volume · 30D

DFIC 751.5×the volume

DFIC1.85MPQNT2.46K

DFIC vs PQNT Performance

Oct 31, 2025 – Oct 30, 2026

+16.8%DFIC+11.9%PQNT

Expense ratio: DFIC 0.22%, better; PQNT 0.30%
Fund size: DFIC $15.3B; PQNT $14M
1Y total return: DFIC +16.8%, better; PQNT +11.9%
Yield (12M): DFIC 2.55%; PQNT No data
Holdings: DFIC 4152; PQNT 273
Avg volume (30D): DFIC 1.85M sh, better; PQNT 2.46K sh
NAV per share: DFIC $37.56; PQNT $22.64
52W range

ETF.net Grade

Pillar letters and Scores for DFIC, PQNT, with each pillar’s weight
Pillar	DFIC	PQNT
Cost30% weight	A98Higher	A89
Mission25% weight	A100	Not scored
Risk15% weight	B69Higher	C51
Tradability15% weight	A81Higher	D25
Holdings10% weight	A91Higher	B57
Durability5% weight	A91Higher	D32

Rank among International Active Equity funds

How we build Categories ›

Same Category. DFIC and PQNT 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 PQNT 20th 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 20BCGIECapital Group International Equity ETFScore 60
Rank 20BPQNTPictet AI Enhanced International Equity ETFScore 60
Rank 22BTILCThrivent International Large Cap ETFScore 57

Our read on each fund

ETF.net Research

DFICADimensional International Core Equity 2 ETF

PQNTBPictet AI Enhanced International Equity ETF

In short

DFIC No data

PQNT AI is the engine here, not the pitch: an actively managed developed-markets fund measured against the MSCI EAFE index, where machine-driven stock selection costs 0.30%, low for an active international mandate.

Stated mandate

DFIC No data

PQNT The Fund seeks long-term capital appreciation and is an actively managed ETF using an investment strategy enhanced through artificial intelligence.

Why people hold it

DFIC No data

PQNT 0.30% for an actively managed international portfolio, well under the typical fee in the active international aisle.
Among funds using MSCI EAFE as their yardstick, fees stretch past a full point (AADR at 1.17%). PQNT sits near the floor of that range.
The mandate stays plain: developed non-US stocks, benchmarked to MSCI EAFE. AI drives the selection, so this is not a thematic basket of AI stocks.
Rates in the upper half of its actively managed international peer group on our review, with the portfolio itself a relative strength.

Worth knowing

DFIC No data

PQNT Launched in October 2025, so there is no long live record showing how the AI-enhanced process behaves across a full market cycle.
Still a small, thinly traded fund, which can mean wider bid-ask spreads than the household names in the category.
Active is active: holdings can look different from MSCI EAFE, so results can diverge from the benchmark in either direction.

Full DFIC profile⁠

Full PQNT profile⁠

DFIC vs PQNT Holdings

How DFIC and PQNT differ

Overlap by weight

23.9%

Shared holdings make up 79.3% of PQNT and 26.0% of DFIC.

Level by level

Holdings232 in both23.9%
Countryby domicile84.0%
Asset classEquity100%

Sector

No Sector split for PQNT.

Country, concentration and asset class

Country by domicile

Country weights in DFIC and PQNT, widest gap first
Country	More in DFICMore in PQNT	DFIC	PQNT
Canada	DFIC +11.6 points	11.6%	0.0%
Netherlands	PQNT +3.7 points	3.6%	7.3%
Switzerland	PQNT +3.1 points	8.0%	11.1%
United Kingdom	PQNT +2.7 points	11.4%	14.1%
Hong Kong	PQNT +1.5 points	1.2%	2.7%
France	PQNT +1.3 points	6.1%	7.4%
Japan	PQNT +1.0 points	24.4%	25.4%
Finland	DFIC +1.0 points	1.4%	0.4%
Other countries (20)	DFIC +0.7 points	32.3%	31.6%

Outside the US: DFIC 98% developed, 2% emerging. PQNT 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

DFIC7.1%
PQNT26.9%

Securities held

DFIC4,131
PQNT272

Asset class

DFIC: Equity
PQNT: Equity

Holdings

Only in DFIC3,899
In both232
Only in PQNT40

Only in DFIC

3,899 securities, 73.6% of DFIC by weight

Shell PLC1.15%
Asml Holding NV1.09%
Totalenergies SE0.76%
Novartis AG Adr0.76%
Royal Bank of Canada0.64%
Bp PLC0.44%
Banco Bilbao Vizcaya Arge0.41%
Suncor Energy Inc.0.41%
Bhp Group Ltd0.39%
Hsbc Holdings PLC0.39%
Canadian Natural Resource0.37%
Toronto-Dominion Bank0.37%
Bayer AG0.36%
Basf SE0.33%
Astrazeneca PLC0.33%
Tesco PLC0.31%
Infineon Technologies AG0.31%
Eni Spa0.30%
E.on SE0.29%
Cenovus Energy Inc0.27%
Repsol SA0.27%
National Bank of Canada0.25%
Bhp Group Ltd0.25%
Intact Financial Corp0.24%
Standard Chartered PLC0.23%
Barrick Mining Corp0.23%
Vinci SA0.22%
Cie De Saint-Gobain0.22%
Aib Group PLC0.22%
Ubs Group AG0.22%
Bank of Nova Scotia/The0.22%
Swiss Re AG0.21%
Agnico Eagle Mines Ltd0.21%
Fairfax Financial Holding0.21%
Glencore PLC0.20%
Swisscom AG0.20%
Kddi Corp0.19%
Helvetia Baloise Holding0.19%
Royal Bank of Canada0.19%
Publicis Groupe SA0.18%
Unilever PLC0.18%
Qbe Insurance Group Ltd0.18%
Inpex Corp0.18%
Mizuho Financial Group In0.18%
Bca Mps0.18%
Sse PLC0.18%
Rheinmetall AG0.18%
Lvmh Moet Hennessy Louis0.18%
Eneos Holdings Inc0.17%
Canadian Imperial Bank of0.17%

Only in PQNT

40 securities, 20.5% of PQNT by weight

Cashusd5.90%
Ishares Msci Eafe Etf4.80%
Ishares Core Msci Eafe Etf4.78%
Tesco PLC0.72%
Bayer Ag-Reg0.56%
Spotify Technology SA0.41%
Intercontinental Hotels Grou0.40%
Mitsubishi Ufj Lease & Finance0.36%
Singapore Tech Engineeri0.29%
Standard Life PLC0.24%
Basf SE0.24%
United Overseas Bk Ltd Ord0.23%
Unilever PLC0.21%
Tenaris SA0.20%
Softbank Group Corp0.19%
Reckitt Benckiser Group0.18%
Yangzijiang Shipbuilding0.12%
Lifco Ab-B Shs0.12%
Capitaland Integrated Co0.08%
Henkel AG & Co Kgaa0.07%
Klepierre0.06%
Kerry Group Plc-A0.06%
Dassault Systemes SE0.05%
Compass Group PLC0.05%
Recordati Industria Chim0.04%
Industrivarden Ab-C Shs0.04%
Cashaud0.04%
Cashgbp0.03%
Exor NV0.02%
Cashjpy0.02%
Cashils0.02%
Cashchf0.01%
Elbit Systems Ltd0.01%
Cashhkd<0.01%
Cashsgd<0.01%
Casheur<0.01%
Cashdkk<0.01%
Cashnok0.00%
Cashsek0.00%
Cashnzd0.00%

Weight gaps

The 100 widest of 232 Holdings in both funds.

Holding weights in DFIC and PQNT, widest gap first
Holding	More in DFICMore in PQNT	DFIC	PQNT
Asml Holding NV	PQNT +3.01 points	0.07%	3.08%
Novartis AG	PQNT +1.42 points	0.07%	1.49%
British American TobaccoBATS.L	PQNT +1.34 points	0.17%	1.51%
Recruit Holdings Co Ltd	PQNT +1.01 points	0.30%	1.31%
Ubs Group AG	PQNT +1.00 points	<0.01%	1.01%
Sony Group Corp	PQNT +1.00 points	0.33%	1.33%
Galderma Group AG	PQNT +0.99 points	0.09%	1.08%
Roche Holding AG	PQNT +0.96 points	0.70%	1.66%
Bnp Paribas SA	PQNT +0.89 points	0.14%	1.03%
Zurich Insurance Group AG	PQNT +0.86 points	0.23%	1.09%
Intesa Sanpaolo Spa	PQNT +0.83 points	0.15%	0.98%
London Stock Exchange GroLSEG.L	PQNT +0.82 points	0.11%	0.93%
Banco Bilbao Vizcaya Arge	PQNT +0.80 points	0.06%	0.86%
Abn Amro Bank NV	PQNT +0.79 points	0.13%	0.92%
Assa Abloy Ab	PQNT +0.77 points	0.04%	0.81%
Iberdrola SA	PQNT +0.77 points	0.09%	0.86%
Japan Tobacco Inc	PQNT +0.74 points	0.11%	0.85%
Fast Retailing Co Ltd	PQNT +0.74 points	0.12%	0.86%
Ck Hutchison Holdings Ltd	PQNT +0.73 points	0.04%	0.77%
L'oreal SA	PQNT +0.70 points	0.18%	0.88%
Hsbc Holdings PLCHSBA.L	PQNT +0.67 points	0.08%	0.75%
Itochu Corp	PQNT +0.67 points	0.15%	0.82%
Fujitsu Ltd	PQNT +0.64 points	0.09%	0.73%
Enel Spa	PQNT +0.63 points	0.16%	0.79%
Sap SE	PQNT +0.63 points	0.09%	0.72%
Fanuc Corp	PQNT +0.62 points	<0.01%	0.63%
Aia Group Ltd	PQNT +0.61 points	0.17%	0.78%
Muenchener Rueckversicher	PQNT +0.61 points	0.25%	0.86%
Anz Group Holdings	PQNT +0.58 points	0.12%	0.70%
Nordea Bank Abp	PQNT +0.58 points	0.19%	0.77%
Ing Groep NV	PQNT +0.58 points	0.14%	0.72%
Axa SA	PQNT +0.57 points	0.09%	0.66%
Tokyo Electron Ltd	PQNT +0.55 points	0.24%	0.80%
Schindler Holding AG	PQNT +0.55 points	0.02%	0.57%
Natwest Group PLCNWG.L	PQNT +0.50 points	0.06%	0.56%
Relx PLCREL.L	PQNT +0.49 points	<0.01%	0.49%
Kbc Group NV	PQNT +0.48 points	0.21%	0.69%
Rio Tinto PLCRIO.L	PQNT +0.48 points	0.29%	0.77%
Siemens Energy AG	PQNT +0.47 points	0.24%	0.71%
Advantest Corp	PQNT +0.46 points	0.33%	0.79%
Anglo American Ord NpvAAL.L	PQNT +0.46 points	0.18%	0.64%
Siemens AG	PQNT +0.46 points	0.26%	0.72%
Rolls-Royce Holdings PLCRR.L	PQNT +0.45 points	0.39%	0.84%
Next PLCNXT.L	PQNT +0.46 points	0.09%	0.55%
Hitachi Ltd	PQNT +0.45 points	0.31%	0.76%
Edp - Energias De Portuga	PQNT +0.44 points	0.06%	0.50%
Mitsui & Co Ltd	PQNT +0.43 points	0.09%	0.52%
Tokio Marine Holdings Inc	PQNT +0.42 points	0.22%	0.64%
Bank Leumi Le-Israel Bm	PQNT +0.42 points	0.12%	0.54%
Deutsche Bank AG	PQNT +0.42 points	0.03%	0.45%
Mitsui Fudosan Co Ltd	PQNT +0.40 points	0.08%	0.48%
Schneider Electric SE	PQNT +0.40 points	0.12%	0.52%
Kioxia Holdings Corp	PQNT +0.40 points	0.05%	0.45%
National Grid PLCNG.L	PQNT +0.38 points	0.01%	0.39%
Macquarie Group Ltd	PQNT +0.38 points	0.06%	0.44%
Sumitomo Realty & Develop	PQNT +0.38 points	0.04%	0.42%
Westpac Banking Corp	PQNT +0.37 points	0.16%	0.53%
Daiwa Securities Group In	PQNT +0.36 points	0.06%	0.42%
Lloyds Banking Group PLCLLOY.L	PQNT +0.35 points	0.04%	0.39%
Cie Financiere Richemont	PQNT +0.34 points	0.13%	0.47%
Sun Hung Kai Properties L	PQNT +0.34 points	0.02%	0.36%
Shin-Etsu Chemical Co Ltd	PQNT +0.34 points	0.13%	0.47%
Vodafone Group PLCVOD.L	PQNT +0.33 points	0.11%	0.44%
Engie SA	PQNT +0.34 points	0.28%	0.62%
Abb Ltd	PQNT +0.32 points	0.22%	0.54%
Commonwealth Bank of Aust	PQNT +0.32 points	0.19%	0.51%
Dbs Group Holdings Ltd	PQNT +0.32 points	0.23%	0.55%
Japan Post Holdings Co Lt	PQNT +0.30 points	0.03%	0.33%
Daiichi Life Group Inc	PQNT +0.30 points	0.12%	0.42%
Air Liquide SA	PQNT +0.29 points	0.17%	0.46%
Credit Agricole SA	PQNT +0.29 points	0.04%	0.33%
Bandai Namco Holdings Inc	PQNT +0.28 points	0.06%	0.34%
Rio Tinto Ltd	PQNT +0.28 points	0.15%	0.43%
Dnb Bank Asa	PQNT +0.27 points	0.04%	0.31%
Renesas Electronics Corp	PQNT +0.27 points	0.06%	0.33%
Mitsubishi Ufj Financial	PQNT +0.26 points	0.36%	0.62%
Capgemini SE	PQNT +0.26 points	0.12%	0.38%
Marubeni Corp	PQNT +0.26 points	0.04%	0.30%
Bae Systems PLCBA.L	PQNT +0.25 points	0.18%	0.43%
Boc Hong Kong Holdings Lt	PQNT +0.25 points	0.03%	0.28%
National Australia Bank L	PQNT +0.25 points	0.14%	0.39%
Orange SA	DFIC +0.24 points	0.26%	0.02%
Indutrade Ab	PQNT +0.23 points	0.02%	0.25%
Anheuser-Busch Inbev Sa/N	PQNT +0.23 points	0.21%	0.44%
Sbi Holdings Inc/Japan	PQNT +0.22 points	0.07%	0.29%
Nidec Corp	PQNT +0.22 points	0.02%	0.24%
Panasonic Holdings Corp	PQNT +0.22 points	0.09%	0.31%
Asm International NV	PQNT +0.22 points	0.14%	0.36%
Legrand SA	PQNT +0.21 points	0.11%	0.32%
Softbank Corp	PQNT +0.21 points	0.09%	0.30%
Gsk PLCGSK.L	PQNT +0.21 points	0.20%	0.41%
Wolters Kluwer NV	PQNT +0.21 points	0.03%	0.24%
Safran SA	PQNT +0.20 points	0.19%	0.39%
Sumitomo Electric Industr	PQNT +0.20 points	0.11%	0.31%
Nitto Denko Corp	PQNT +0.18 points	0.09%	0.27%
Telstra Corp Ltd	PQNT +0.18 points	0.03%	0.21%
Terna Rete Elettrica Nazi	PQNT +0.18 points	0.06%	0.24%
Ferrari NV	PQNT +0.18 points	<0.01%	0.18%
Fisher & Paykel Healthcar	PQNT +0.17 points	0.02%	0.19%
SOUTH32 Ltd	PQNT +0.17 points	0.06%	0.23%

All 4,139 DFIC holdings⁠All 259 PQNT 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 PQNT Cost

Overpaying PQNT vs DFIC

$1,591

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

DFIC 0.22%
$4,558
PQNT 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

DFIC 0.22%
PQNT 0.30%
Overpaying

Year by year

Year	DFIC	PQNT	Overpaying
10	$401	$545	$144
20	$1,561	$2,113	$552
30	$4,558	$6,149	$1,591

Expense ratio

0.22%DFIC, cheaper
0.30%PQNT

DFIC0.22%PQNT0.30%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

DFIC 2nd cheapest of 55 funds

PQNT 6th cheapest of 55 funds

DFIC vs PQNT Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFIC 2.55%; PQNT No data
Payout (12M): DFIC $0.96; PQNT No data
Last payment: DFIC $0.19; PQNT $0.08
Ex-dividend: DFIC Sep 22, 2026; PQNT Dec 19, 2025
Paid on: DFIC Sep 24, 2026; PQNT Dec 23, 2025
Frequency: DFIC Quarterly; PQNT Irregular

Distribution history

Per share, 2022 to 2026, same scale for both

DFICQuarterly · 18 paymentsAll DFIC payments⁠

PQNTIrregular · 1 paymentAll PQNT payments⁠

DFIC vs PQNT 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%PQNT 12.5%since Nov 2025
Return per unit of riskSharpe ratio, 3 years: DFIC 1.35PQNT 0.66since Nov 2025
Worst fallMax drawdown, 5 years: DFIC −24.4%since Mar 2022PQNT −11.2%since Oct 2025
Market sensitivityBeta, 5 years: DFIC 0.92PQNT 0.63; Market = 1

DFIC and PQNT 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 PQNT

In short

Stated mandate

Why people hold it

Worth knowing

How DFIC and PQNT differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIC

Only in PQNT

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

How DFIC and PQNT differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIC

Only in PQNT

Weight gaps