DFIC vs TIER: Grades, Fees and Holdings Compared

Dimensional International Core Equity 2 ETF

DFICACboe

T. Rowe Price International Equity Research ETF

TIERBNYSE Arca

Overlap

25.6%by weight

Expense ratio

DFIC −0.16pt a year

DFIC0.22%TIER0.38%

Avg volume · 30D

DFIC 117.2×the volume

DFIC1.85MTIER15.8K

DFIC vs TIER Performance

Oct 31, 2025 – Oct 30, 2026

+16.8%DFIC+12.9%TIER

Expense ratio: DFIC 0.22%, better; TIER 0.38%
Fund size: DFIC $15.3B; TIER $135M
1Y total return: DFIC +16.8%, better; TIER +12.9%
Yield (12M): DFIC 2.55%; TIER No data
Holdings: DFIC 4152; TIER 435
Avg volume (30D): DFIC 1.85M sh, better; TIER 15.8K sh
NAV per share: DFIC $37.56; TIER $30.99
52W range

ETF.net Grade

Pillar letters and Scores for DFIC, TIER, with each pillar’s weight
Pillar	DFIC	TIER
Cost30% weight	A98Higher	A80
Mission25% weight	A100	Not scored
Risk15% weight	B69Higher	B55
Tradability15% weight	A81Higher	C41
Holdings10% weight	A91Higher	A76
Durability5% weight	A91Higher	C49

Rank among International Active Equity funds

How we build Categories ›

Same Category. DFIC and TIER 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 TIER 16th 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 16BPIEQPrincipal International Equity ETFScore 64
Rank 16BTIERT. Rowe Price International Equity Research ETFScore 64
Rank 18BINEQColumbia International Equity Income ETFScore 63

Our read on each fund

ETF.net Research

DFICADimensional International Core Equity 2 ETF

TIERBT. Rowe Price International Equity Research ETF

In short

DFIC No data

TIER Roughly 40 T. Rowe Price analysts pick the stocks, while sector and industry weights stay close to the MSCI ACWI ex USA Index. The wager here is name-by-name research abroad, not a call on which sector or region takes the lead.

Stated mandate

DFIC No data

TIER The fund seeks long-term capital appreciation. It is an actively managed ETF investing primarily in non-U.S. stocks across developed and emerging markets, using bottom-up research and seeking excess returns relative to the MSCI ACWI ex USA Index.

Why people hold it

DFIC No data

TIER Charges 0.38%, below the 0.60% median for active international equity funds in its peer group.
The portfolio is built from the picks of roughly 40 T. Rowe Price equity research analysts, with portfolio managers holding oversight and final discretion.troweprice.com
Sector and industry weights hug the MSCI ACWI ex USA Index, so results relative to that benchmark hinge on stock selection rather than sector bets.troweprice.com
One ticker covers both developed and emerging markets, spread across roughly 300 stocks, in a fully transparent active ETF wrapper.prnewswire.com

Worth knowing

DFIC No data

TIER Index-like sector weights cut both ways: the fund has less room to reallocate across sectors than active funds with a freer hand, and can lag them as a result.troweprice.com
It began trading in June 2025, so the track record is short, and it remains a small, thinly traded fund where bid-ask spreads deserve a look before you trade.
Cheaper systematic rivals cover similar ground, with AVDE at 0.23% and DFIC at 0.22%.

Full DFIC profile⁠

Full TIER profile⁠

DFIC vs TIER Holdings

How DFIC and TIER differ

Overlap by weight

25.6%

Shared holdings make up 60.5% of TIER and 28.2% of DFIC.

Level by level

Holdings241 in both25.6%
Countryby domicile70.7%
Sector11 Sectors81.5%
Asset classEquity100%

Sector

Sector weights in DFIC and TIER, widest gap first
Sector	More in DFICMore in TIER	DFIC	TIER
Technology	TIER +13.6 points	8.4%	22.0%
Industrials	DFIC +6.2 points	19.3%	13.1%
Materials	DFIC +4.3 points	11.0%	6.7%
Financials	TIER +3.9 points	21.8%	25.7%
Consumer Discretionary	DFIC +2.6 points	9.4%	6.8%
Energy	DFIC +1.8 points	7.8%	6.0%
Consumer Staples	DFIC +1.8 points	6.3%	4.5%
Communication	TIER +1.0 points	4.1%	5.1%
Utilities	DFIC +1.0 points	3.2%	2.2%
Real Estate	DFIC +0.9 points	1.6%	0.7%
Health Care	DFIC +0.1 points	7.2%	7.1%

Country, concentration and asset class

Country by domicile

Country weights in DFIC and TIER, widest gap first
Country	More in DFICMore in TIER	DFIC	TIER
Taiwan	TIER +9.8 points	0.0%	9.8%
Japan	DFIC +7.9 points	24.4%	16.5%
South Korea	TIER +6.3 points	0.0%	6.3%
China	TIER +5.0 points	0.2%	5.2%
Canada	DFIC +4.2 points	11.6%	7.4%
India	TIER +3.2 points	0.0%	3.2%
Switzerland	DFIC +2.7 points	8.0%	5.3%
Australia	DFIC +2.1 points	5.9%	3.8%
Other countries (28)	DFIC +7.5 points	49.9%	42.4%

Outside the US: DFIC 98% developed, 2% emerging. TIER 71% developed, 29% emerging.

Concentration

Weight in the 10 largest Holdings

DFIC7.1%
TIER15.7%

Securities held

DFIC4,131
TIER414

Asset class

DFIC: Equity
TIER: Equity

Holdings

Only in DFIC3,890
In both241
Only in TIER173

Only in DFIC

3,890 securities, 71.3% of DFIC by weight

Shell PLC1.15%
Asml Holding NV1.09%
Totalenergies SE0.76%
Novartis AG Adr0.76%
Allianz SE0.49%
Bp PLC0.44%
Suncor Energy Inc.0.41%
Hsbc Holdings PLC0.39%
Canadian Natural Resource0.37%
Toronto-Dominion Bank0.37%
Basf SE0.33%
Astrazeneca PLC0.33%
Tesco PLC0.31%
Eni Spa0.30%
Cenovus Energy Inc0.27%
Repsol SA0.27%
Bhp Group Ltd0.25%
Intact Financial Corp0.24%
Barrick Mining Corp0.23%
Sandoz Group AG0.22%
Aib Group PLC0.22%
Ubs Group AG0.22%
Bank of Nova Scotia/The0.22%
Swiss Re AG0.21%
Agnico Eagle Mines Ltd0.21%
Kbc Group NV0.21%
Nn Group NV0.20%
Swisscom AG0.20%
Banco Santander SA0.19%
Volvo Ab0.19%
Helvetia Baloise Holding0.19%
Royal Bank of Canada0.19%
Nordea Bank Abp0.19%
Publicis Groupe SA0.18%
Airbus SE0.18%
Qbe Insurance Group Ltd0.18%
Bper Banca0.18%
L'oreal SA0.18%
Bca Mps0.18%
British American Tobacco0.17%
Air Liquide SA0.17%
Canadian Imperial Bank of0.17%
Novo Nordisk A/S0.17%
Bt Group PLC0.17%
Kinross Gold Corp0.17%
Magna International Inc0.16%
Teck Resources Ltd0.16%
Compass Group PLC0.16%
Westpac Banking Corp0.16%
Deutsche Bank AG0.15%

Only in TIER

173 securities, 39.8% of TIER by weight

Taiwan Semiconductor Manufac Common Stock TWD10.03.53%
Taiwan Semiconductor Sp Adr Adr2.43%
Sk Hynix Inc Common Stock KRW5000.01.74%
Samsung Electr Gdr Reg’s Gdr1.30%
Yuan Renminbi Offshore1.06%
Alibaba Group Holding Sp Adr Adr USD.0000250.86%
Samsung Electronics Co Ltd Common Stock KRW100.00.81%
Mediatek Inc Common Stock TWD10.00.72%
Tencent Holdings Ltd Uns Adr Adr HKD.000020.71%
China Construction Bank H Common Stock CNY1.00.61%
Allianz SE Reg Common Stock0.59%
Airbus SE Common Stock EUR1.00.56%
Samsung Electronics Pref Preference0.52%
Swedbank Ab A Shares Common Stock0.50%
Air Liquide SA Common Stock EUR5.50.46%
Anz Group Holdings Ltd Common Stock0.43%
Novo Nordisk A/S B Common Stock DKK.10.42%
Delta Electronics Inc Common Stock TWD10.00.40%
Ase Technology Holding Co Lt Common Stock TWD10.00.39%
Softbank Group Corp Common Stock0.36%
Banco Santander SA Common Stock EUR.50.35%
Elite Material Co Ltd Common Stock TWD10.00.34%
Petroleo Brasileiro Spon Adr Adr0.32%
Tencent Holdings Ltd Common Stock HKD.000020.30%
Kb Financial Group Inc Adr Adr0.30%
Icici Bank Ltd Spon Adr Adr0.30%
Grupo Mexico Sab De Cv Ser B Common Stock0.30%
Investor Ab B Shs Common Stock SEK6.250.30%
Spotify Technology SA Common Stock EUR.0006250.29%
Divi’s Laboratories Ltd Common Stock INR2.00.29%
Itau Unibanco H Spon Prf Adr Adr0.28%
Fubon Financial Holding Co Common Stock TWD10.00.28%
Hon Hai Precision Gdr Reg’s Gdr0.27%
Atlas Copco Ab A Shs Common Stock SEK.160.27%
Enbridge Inc Common Stock0.27%
Aviva PLC Common Stock GBP.32894740.26%
Orix Corp Common Stock0.26%
Anglogold Ashanti PLC Common Stock0.25%
Bharti Airtel Ltd Common Stock INR5.00.24%
Reliance Inds Spons Gdr 144A Gdr0.23%
China Pacific Insurance Gr H Common Stock CNY1.00.23%
Techtronic Industries Co Ltd Common Stock0.22%
Meituan Class B Common Stock USD.000010.22%
Sk Square Co Ltd Common Stock KRW500.00.22%
Generali Common Stock0.22%
Hdfc Bank Ltd Adr Adr0.22%
Compass Group PLC Common Stock GBP.11050.21%
Cathay Financial Holding Co Common Stock TWD10.00.21%
Al Rajhi Bank Common Stock SAR10.00.21%
Firstrand Ltd Common Stock ZAR.010.20%

Weight gaps

The 100 widest of 241 Holdings in both funds.

Holding weights in DFIC and TIER, widest gap first
Holding	More in DFICMore in TIER	DFIC	TIER
Asml Holding NV	TIER +1.83 points	0.07%	1.90%
Astrazeneca PLCAZN.L	TIER +0.99 points	0.06%	1.05%
Shell PLCSHEL.L	TIER +0.87 points	0.12%	0.99%
Toronto-Dominion Bank/The	TIER +0.84 points	0.03%	0.87%
Novartis AG	TIER +0.81 points	0.07%	0.88%
Sap SE	TIER +0.74 points	0.09%	0.83%
Hsbc Holdings PLCHSBA.L	TIER +0.72 points	0.08%	0.80%
Totalenergies SETTE	TIER +0.70 points	0.03%	0.73%
Shopify Inc	TIER +0.63 points	0.03%	0.66%
Ubs Group AG	TIER +0.57 points	<0.01%	0.58%
Aia Group Ltd	TIER +0.55 points	0.17%	0.72%
Siemens AG	TIER +0.51 points	0.26%	0.77%
Bhp Group Ltd	TIER +0.49 points	0.39%	0.88%
Mitsubishi Ufj Financial	TIER +0.45 points	0.36%	0.81%
Barclays PLCBCS	TIER +0.43 points	0.04%	0.47%
Suncor Energy Inc	TIER +0.43 points	<0.01%	0.43%
Or Royalties Inc	TIER +0.42 points	<0.01%	0.42%
Canadian Natural Resource	TIER +0.40 points	<0.01%	0.41%
National Grid PLCNG.L	TIER +0.40 points	0.01%	0.41%
Royal Bank of Canada	TIER +0.39 points	0.64%	1.03%
Sumitomo Mitsui Financial	TIER +0.38 points	0.16%	0.54%
Schneider Electric SE	TIER +0.38 points	0.12%	0.50%
Sumitomo Corp	TIER +0.37 points	0.05%	0.42%
British American TobaccoBTI	TIER +0.36 points	0.09%	0.45%
Recruit Holdings Co Ltd	TIER +0.35 points	0.30%	0.65%
Canadian National Railway	TIER +0.33 points	0.01%	0.34%
Agnico Eagle Mines Ltd	TIER +0.32 points	<0.01%	0.32%
Canadian Pacific Kansas C	TIER +0.31 points	0.02%	0.33%
Roche Holding AG	TIER +0.30 points	0.70%	1.00%
Keyence Corp	TIER +0.30 points	0.05%	0.35%
Sony Group Corp	TIER +0.30 points	0.33%	0.63%
Hannover Rueck SE	TIER +0.30 points	0.09%	0.39%
Unicredit Spa	TIER +0.30 points	0.34%	0.64%
Taiheiyo Cement Corp	TIER +0.30 points	0.03%	0.33%
Relx PLCREL.L	TIER +0.30 points	<0.01%	0.30%
Sampo PLC	TIER +0.28 points	0.12%	0.40%
Hitachi Ltd	TIER +0.28 points	0.31%	0.59%
Iberdrola SA	TIER +0.26 points	0.09%	0.35%
Nintendo Co Ltd	TIER +0.25 points	0.07%	0.32%
Siemens Energy AG	TIER +0.25 points	0.24%	0.49%
Commonwealth Bank of Aust	TIER +0.25 points	0.19%	0.44%
Argenx SEARGX	TIER +0.24 points	0.05%	0.29%
Safran SA	TIER +0.24 points	0.19%	0.43%
Lloyds Banking Group PLCLLOY.L	TIER +0.23 points	0.04%	0.27%
Cie Financiere Richemont	TIER +0.23 points	0.13%	0.36%
Tc Energy Corp	TIER +0.23 points	0.01%	0.24%
Ferrari NVRACE	TIER +0.23 points	0.06%	0.29%
Kioxia Holdings Corp	TIER +0.23 points	0.05%	0.28%
Unilever PLCUL	TIER +0.23 points	0.18%	0.41%
Enel Spa	TIER +0.22 points	0.16%	0.38%
Standard Chartered PLCSTAN.L	TIER +0.22 points	0.23%	0.45%
Barclays PLCBARC.L	DFIC +0.22 points	0.22%	0.00%
Itochu Corp	TIER +0.22 points	0.15%	0.37%
E.on SE	DFIC +0.21 points	0.29%	0.08%
Bank of Nova Scotia/The	TIER +0.21 points	0.02%	0.23%
Bayer AG	DFIC +0.20 points	0.36%	0.16%
Advantest Corp	TIER +0.20 points	0.33%	0.53%
Brookfield Corp	TIER +0.20 points	<0.01%	0.20%
Nippon Sanso Holdings Cor	TIER +0.20 points	0.03%	0.23%
Wheaton Precious Metals C	TIER +0.19 points	0.02%	0.21%
Chugai Pharmaceutical Co	TIER +0.19 points	0.05%	0.24%
Aker Bp Asa	TIER +0.18 points	0.05%	0.23%
Lvmh Moet Hennessy Louis	TIER +0.18 points	0.18%	0.36%
Ing Groep NV	TIER +0.18 points	0.14%	0.32%
Barrick Mining Corp	TIER +0.18 points	<0.01%	0.18%
Societe Generale SA	TIER +0.17 points	0.19%	0.36%
Tokyo Electron Ltd	TIER +0.17 points	0.24%	0.42%
Mitsubishi Heavy Industri	TIER +0.16 points	0.11%	0.27%
Caixabank SA	TIER +0.16 points	0.14%	0.30%
Resona Holdings Inc	TIER +0.16 points	0.09%	0.25%
Csl Ltd	TIER +0.16 points	0.01%	0.17%
Banco Comercial Portugues	TIER +0.16 points	0.08%	0.23%
Hoya Corp	TIER +0.16 points	0.11%	0.27%
Toyota Motor Corp	TIER +0.16 points	0.46%	0.62%
Engie SA	DFIC +0.15 points	0.28%	0.13%
Sea LtdSE	TIER +0.15 points	0.01%	0.16%
Dbs Group Holdings Ltd	TIER +0.15 points	0.23%	0.38%
Nippon Steel Corp	TIER +0.15 points	0.07%	0.22%
Suncorp Group Ltd	TIER +0.14 points	0.07%	0.21%
Murata Manufacturing Co L	TIER +0.14 points	0.12%	0.26%
Kajima Corp	TIER +0.14 points	0.04%	0.18%
Equinor Asa	TIER +0.13 points	0.14%	0.27%
Dhl AG	DFIC +0.13 points	0.30%	0.17%
Bawag Group AG	TIER +0.13 points	0.13%	0.26%
Abb Ltd	TIER +0.13 points	0.22%	0.35%
Aercap Holdings NVAER	TIER +0.14 points	<0.01%	0.14%
Mitsubishi Estate Co Ltd	TIER +0.13 points	0.03%	0.16%
Hermes International	TIER +0.13 points	0.04%	0.17%
T&D Holdings Inc	TIER +0.13 points	0.05%	0.18%
Ajinomoto Co Inc	TIER +0.14 points	0.05%	0.19%
Takeda Pharmaceutical Co	TIER +0.13 points	0.13%	0.26%
Mitsubishi Electric Corp	TIER +0.13 points	0.06%	0.19%
Kubota Corp	TIER +0.13 points	0.07%	0.20%
Adyen NV	TIER +0.12 points	0.03%	0.15%
Sonova Holding AG	TIER +0.13 points	0.08%	0.21%
Rolls-Royce Holdings PLCRR.L	TIER +0.12 points	0.39%	0.51%
Nec Corp	TIER +0.12 points	0.07%	0.19%
George Weston Ltd	TIER +0.11 points	0.05%	0.16%
Deutsche Bank AG	TIER +0.12 points	0.03%	0.15%
Tokio Marine Holdings Inc	TIER +0.12 points	0.22%	0.34%

All 4,139 DFIC holdings⁠All 345 TIER 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 TIER Cost

Overpaying TIER vs DFIC

$3,148

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

DFIC 0.22%
$4,558
TIER 0.38%
$7,706

Amount$10,000

Years30 years

Cost over time

DFIC 0.22%
TIER 0.38%
Overpaying

Year by year

Year	DFIC	TIER	Overpaying
10	$401	$688	$287
20	$1,561	$2,658	$1,097
30	$4,558	$7,706	$3,148

Expense ratio

0.22%DFIC, cheaper
0.38%TIER

DFIC0.22%TIER0.38%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

DFIC 2nd cheapest of 55 funds

TIER 12th cheapest of 55 funds

DFIC vs TIER Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFIC 2.55%; TIER No data
Payout (12M): DFIC $0.96; TIER No data
Last payment: DFIC $0.19; TIER $0.21
Ex-dividend: DFIC Sep 22, 2026; TIER Dec 23, 2025
Paid on: DFIC Sep 24, 2026; TIER Dec 26, 2025
Frequency: DFIC Quarterly; TIER Irregular

Distribution history

Per share, 2022 to 2026, same scale for both

DFICQuarterly · 18 paymentsAll DFIC payments⁠

TIERIrregular · 1 paymentAll TIER payments⁠

DFIC vs TIER 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%TIER 14.4%since Jul 2025
Return per unit of riskSharpe ratio, 3 years: DFIC 1.35TIER 0.87since Jul 2025
Worst fallMax drawdown, 5 years: DFIC −24.4%since Mar 2022TIER −12.1%since Jun 2025
Market sensitivityBeta, 5 years: DFIC 0.92TIER 0.91; Market = 1

DFIC and TIER 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 TIER

In short

Stated mandate

Why people hold it

Worth knowing

How DFIC and TIER differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIC

Only in TIER

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 TIER differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIC

Only in TIER

Weight gaps