DFIS vs SCZ: Grades, Fees and Holdings Compared

Dimensional International Small Cap ETF

DFISACboe

iShares MSCI EAFE Small-Cap ETF

SCZANasdaq

Overlap

52.3%by weight

Expense ratio

DFIS −0.01pt a year

DFIS0.39%SCZ0.40%

Avg volume · 30D

SCZ 1.9×the volume

DFIS693KSCZ1.3M

3Y return · a year

DFIS +2.8pt

DFIS+22.0%SCZ+19.2%

DFIS vs SCZ Performance

Oct 31, 2025 – Oct 30, 2026

+15.6%DFIS+12.2%SCZ

Expense ratio: DFIS 0.39%, better; SCZ 0.40%
Fund size: DFIS $5.76B; SCZ $12.7B
1Y total return: DFIS +15.6%, better; SCZ +12.2%
Yield (12M): DFIS 2.23%; SCZ 3.22%, better
Holdings: DFIS 3503; SCZ 2039
Avg volume (30D): DFIS 693K sh; SCZ 1.3M sh, better
NAV per share: DFIS $35.55; SCZ $82.65
52W range

ETF.net Grade

Pillar letters and Scores for DFIS, SCZ, with each pillar’s weight
Pillar	DFIS	SCZ
Cost30% weight	A70	A70
Mission25% weight	A100	A100
Risk15% weight	B55	B55
Tradability15% weight	A71	A92Higher
Holdings10% weight	B66	A76Higher
Durability5% weight	B55	A85Higher

Rank among International Small-Cap funds

How we build Categories ›

Same Category. DFIS and SCZ are both graded against the same 16 International Small-Cap funds, so their Grades compare head to head.

International Small-Cap⁠

Category · 16 funds

See all 16 ›

SCZ ranks 2nd and DFIS 4th of 16 funds in the International Small-Cap Category.

Rank 1ASCHCSchwab International Small-Cap Equity ETFScore 80
Rank 2ASCZiShares MSCI EAFE Small-Cap ETFScore 79
Rank 3AVSSVanguard FTSE All-World ex-US Small-Cap ETFScore 78
Rank 4ADFISDimensional International Small Cap ETFScore 74
Rank 4AFNDCSchwab Fundamental International Small Company Index ETFScore 74

Our read on each fund

ETF.net Research

DFISADimensional International Small Cap ETF

SCZAiShares MSCI EAFE Small-Cap ETF

In short

DFIS No data

SCZ The purist's take on foreign small caps: developed markets only, outside the US and Canada. Trading since 2007, SCZ follows the MSCI EAFE Small Cap Index, so Japan, Europe and Australia are in and emerging markets stay out.

Stated mandate

DFIS No data

SCZ The fund seeks to track an index of small-cap equities from developed markets outside the United States and Canada, providing international diversification and exposure to overseas small-cap stocks.

Why people hold it

DFIS No data

SCZ A clean, literal mandate: small companies in developed markets outside the US and Canada, with nothing else slipping into the basket.ishares.com
It follows its stated index closely, one of the tighter implementations in the international small-cap group.
Live since December 2007 and now a multi-billion-dollar fund that trades actively, the kind of scale that supports steady day-to-day liquidity.
The 0.40% fee lands right at the median for its category, so the EAFE-specific screen doesn't carry a premium price.

Worth knowing

DFIS No data

SCZ Median is not cheap here. VSS and SCHC charge 0.06% for their own ex-US small-cap baskets, several times less than SCZ's 0.40%.
Developed markets only. Emerging-market small caps sit outside the mandate, unlike all-world peers such as VSS.
The index is unhedged, so currency moves land on top of small-cap price swings, a bumpier ride than developed large-cap benchmarks.

Full DFIS profile⁠

Full SCZ profile⁠

DFIS vs SCZ Holdings

How DFIS and SCZ differ

Overlap by weight

52.3%

Shared holdings make up 66.1% of SCZ and 65.3% of DFIS.

Level by level

Holdings1,470 in both52.3%
Countryby domicile72.4%
Sector11 Sectors89.7%
Asset classEquity100%

Sector

Sector weights in DFIS and SCZ, widest gap first
Sector	More in DFISMore in SCZ	DFIS	SCZ
Real Estate	SCZ +6.4 points	3.1%	9.6%
Materials	DFIS +3.6 points	14.2%	10.6%
Consumer Discretionary	DFIS +2.6 points	14.0%	11.4%
Industrials	DFIS +1.7 points	24.9%	23.2%
Energy	DFIS +1.6 points	5.3%	3.7%
Technology	SCZ +1.4 points	9.0%	10.4%
Communication	SCZ +1.2 points	3.0%	4.2%
Financials	SCZ +0.9 points	12.2%	13.1%
Utilities	DFIS +0.8 points	3.0%	2.2%
Health Care	SCZ +0.4 points	5.7%	6.1%
Consumer Staples	DFIS +0.1 points	5.5%	5.4%

Country, concentration and asset class

Country by domicile

Country weights in DFIS and SCZ, widest gap first
Country	More in DFISMore in SCZ	DFIS	SCZ
Canada	DFIS +11.6 points	11.6%	0.0%
Japan	SCZ +10.9 points	27.3%	38.2%
Australia	SCZ +5.4 points	5.5%	10.9%
Israel	SCZ +3.3 points	1.1%	4.4%
Sweden	SCZ +2.8 points	2.6%	5.4%
Switzerland	DFIS +2.8 points	7.3%	4.5%
Finland	DFIS +2.4 points	2.4%	0.0%
Germany	DFIS +2.0 points	6.1%	4.1%
Other countries (22)	DFIS +3.6 points	36.1%	32.5%

Outside the US: DFIS 98% developed, 2% emerging. SCZ 96% developed, 4% emerging.

Concentration

Weight in the 10 largest Holdings

DFIS3.3%
SCZ2.6%

Securities held

DFIS3,488
SCZ2,023

Asset class

DFIS: Equity
SCZ: Equity

Holdings

Only in DFIS2,018
In both1,470
Only in SCZ553

Only in DFIS

2,018 securities, 34.5% of DFIS by weight

Qiagen NV Com0.46%
Vat Group AG0.40%
Orion Oyj0.37%
Poste Italiane Spa0.34%
Finning International Inc0.33%
Dpm Metals Inc0.31%
Gea Group AG0.31%
Rexel SA0.31%
Swiss Prime Site AG0.31%
Brenntag SE0.28%
Akzo Nobel NV0.28%
Capital Power Corp0.27%
Belimo Holding AG0.27%
Canadian Tire Corp Ltd0.26%
Zalando SE0.26%
Kesko Oyj0.24%
Helvetia Baloise Holding0.24%
Carrefour SA0.24%
Symrise AG0.24%
Hudbay Minerals Inc0.23%
Ssr Mining Inc0.23%
Eurofins Scientific0.22%
Accor SA0.22%
Kingfisher PLC0.22%
Swatch Group Ag/The0.22%
Fresenius Medical Care AG0.22%
Indra Sistemas SA0.21%
Evonik Industries AG0.21%
Tamarack Valley Energy Lt0.21%
Hensoldt AG0.20%
Colliers International Gr0.20%
Northland Power Inc0.20%
Oceanagold Corp0.20%
Alstom SA0.20%
Bawag Group AG0.20%
Italgas Spa0.19%
Blackberry Limited0.19%
Logitech International SA0.18%
Centerra Gold Inc0.18%
Stora Enso Oyj0.18%
Mda Space Ltd0.18%
Athabasca Oil Corp0.18%
Eldorado Gold Corp0.18%
Capstone Copper Corp0.18%
Open Text Corp0.18%
Sonova Holding AG0.17%
Renault SA0.17%
Peyto Exploration & Devel0.17%
Metso Corporation0.17%
Russel Metals Inc0.17%

Only in SCZ

553 securities, 33.3% of SCZ by weight

Baycurrent Inc0.30%
Bluescope Steel0.29%
Weir PLC0.25%
Storebrand0.23%
Frontline PLC0.23%
Food & Life Companies0.23%
Subsea0.22%
Shizuoka Financial Group Inc0.22%
Mebuki Financial Group Inc0.22%
Als0.21%
Orica0.21%
Nippon Express Holdings0.21%
Stockland Stapled Units Ltd0.21%
Ramsay Health Care0.20%
Isetan Mitsukoshi Holdings0.20%
Rohm0.20%
Fukuoka Financial Group0.20%
Niterra0.19%
Misumi Group0.19%
Cochlear0.19%
Sandfire Resources0.19%
Aedifica NV0.19%
Gpt Group Stapled Units0.19%
Technology One0.19%
Taiyo Yuden Ltd0.19%
Meiji Holdings Ltd0.19%
Shimadzu0.18%
Charter Hall Group Stapled Units0.18%
Sojitz Corp0.18%
Jfe Holdings0.18%
Icg PLC0.18%
Ampol0.18%
Brother Industries0.18%
Sonic Healthcare0.18%
Ngk0.18%
Nice0.18%
Toyo Suisan Ltd0.18%
Car Group0.18%
Getinge B0.17%
Nissan Chemical Corp0.17%
Clal Insurance Enterprises Ltd0.17%
Trend Micro0.17%
Ricoh0.17%
Omron0.17%
Bezeq Israeli Telecommunication Co0.17%
British Land Reit0.16%
Yaskawa Electric0.16%
Kyoto Financial Group0.16%
Seiko Epson0.16%
Sekisui Chemical0.16%

Weight gaps

The 100 widest of 1,470 Holdings in both funds.

Holding weights in DFIS and SCZ, widest gap first
Holding	More in DFISMore in SCZ	DFIS	SCZ
Namura Shipbuilding Co Lt	DFIS +0.23 points	0.27%	0.04%
Mercari Inc	DFIS +0.23 points	0.30%	0.07%
Shibaura Mechatronics Cor	DFIS +0.22 points	0.26%	0.04%
Wpp PLCWPP.L	SCZ +0.16 points	0.01%	0.17%
Sumco Corp	SCZ +0.15 points	0.00%	0.15%
Perseus Mining Ltd	SCZ +0.14 points	0.01%	0.15%
Mitsui Chemicals Inc	SCZ +0.13 points	<0.01%	0.13%
Kobe Steel Ltd	SCZ +0.12 points	0.02%	0.14%
Amada Co Ltd	SCZ +0.12 points	0.01%	0.13%
Codan Ltd/Australia	SCZ +0.11 points	0.02%	0.13%
Genesis Minerals Ltd	SCZ +0.12 points	0.02%	0.14%
North Pacific Bank Ltd	DFIS +0.11 points	0.17%	0.06%
Ramelius Resources Ltd	SCZ +0.12 points	0.01%	0.13%
HUB24 Ltd	SCZ +0.11 points	<0.01%	0.11%
St James's Place PLCSTJ.L	SCZ +0.11 points	0.09%	0.20%
Imi PLCIMI.L	SCZ +0.10 points	0.16%	0.26%
Gs Yuasa Corp	DFIS +0.10 points	0.17%	0.07%
Saipem Spa	DFIS +0.11 points	0.29%	0.18%
Thyssenkrupp AG	DFIS +0.10 points	0.29%	0.19%
Haseko Corp	SCZ +0.10 points	<0.01%	0.10%
Loomis Ab	SCZ +0.11 points	<0.01%	0.11%
Medipal Holdings Corp	SCZ +0.10 points	0.01%	0.11%
Mitsubishi Materials Corp	DFIS +0.10 points	0.20%	0.10%
Thk Co Ltd	SCZ +0.10 points	<0.01%	0.10%
Soitec	SCZ +0.10 points	<0.01%	0.10%
Suruga Bank Ltd	DFIS +0.09 points	0.15%	0.06%
Oji Holdings Corp	SCZ +0.09 points	<0.01%	0.10%
Sumitomo Bakelite Co Ltd	SCZ +0.10 points	<0.01%	0.10%
Skylark Holdings Co Ltd	SCZ +0.10 points	0.05%	0.15%
Sapporo Breweries Ltd	SCZ +0.09 points	0.02%	0.11%
Babcock International GroBAB.L	DFIS +0.09 points	0.19%	0.10%
Tieto Oyj	DFIS +0.09 points	0.09%	<0.01%
Sanwa Holdings Corp	SCZ +0.09 points	0.03%	0.12%
Nextdc Ltd	SCZ +0.09 points	<0.01%	0.09%
Bendigo & Adelaide Bank L	SCZ +0.09 points	0.04%	0.13%
Barratt Redrow PLCBTRW.L	SCZ +0.08 points	0.08%	0.16%
Endeavour Group Ltd/Austr	SCZ +0.08 points	0.02%	0.10%
Furuya Metal Co Ltd	DFIS +0.08 points	0.11%	0.03%
SCOUT24 AG	SCZ +0.08 points	0.11%	0.19%
J Front Retailing Co Ltd	SCZ +0.08 points	0.04%	0.12%
Swcc Corp	DFIS +0.09 points	0.14%	0.05%
Investec PLCINVP.L	SCZ +0.08 points	0.06%	0.14%
Sumitomo Pharma Co Ltd	SCZ +0.08 points	0.00%	0.08%
Odakyu Electric Railway C	SCZ +0.08 points	0.02%	0.10%
Hokuhoku Financial Group	SCZ +0.08 points	0.06%	0.14%
Pan African Resources PLCPAF.L	DFIS +0.08 points	0.17%	0.09%
Kintetsu Group Holdings C	SCZ +0.08 points	0.03%	0.11%
Sumitomo Forestry Co Ltd	SCZ +0.07 points	0.03%	0.10%
Rightmove PLCRMV.L	SCZ +0.08 points	0.07%	0.15%
Genting Singapore Ltd	SCZ +0.08 points	<0.01%	0.08%
AUTO1 Group SE	SCZ +0.08 points	<0.01%	0.08%
Zegona Communications PLCZEG.L	SCZ +0.07 points	0.04%	0.11%
Aurizon Holdings Ltd	SCZ +0.07 points	0.06%	0.13%
Toyo Seikan Group Holding	SCZ +0.07 points	<0.01%	0.08%
Hiscox LtdHSX.L	DFIS +0.07 points	0.30%	0.23%
Computacenter PLCCCC.L	DFIS +0.07 points	0.18%	0.11%
Man Group Plc/JerseyEMG.L	DFIS +0.07 points	0.21%	0.14%
Imcd NV	DFIS +0.07 points	0.26%	0.19%
Nomura Real Estate Holdin	SCZ +0.07 points	0.02%	0.09%
Comsys Holdings Corp	SCZ +0.07 points	0.04%	0.11%
Electric Power Developmen	SCZ +0.07 points	0.03%	0.10%
Nkt A/S	SCZ +0.07 points	0.12%	0.19%
Nof Corp	SCZ +0.07 points	0.03%	0.10%
Challenger Ltd	SCZ +0.07 points	0.05%	0.12%
Lion Finance Group PLCBGEO.L	DFIS +0.07 points	0.23%	0.16%
Easyjet PLCEZJ.L	SCZ +0.07 points	0.01%	0.08%
Koito Manufacturing Co Lt	SCZ +0.06 points	<0.01%	0.07%
Renishaw PLCRSW.L	SCZ +0.06 points	<0.01%	0.07%
Steadfast Group Ltd	SCZ +0.06 points	0.05%	0.11%
Tokyo Tatemono Co Ltd	SCZ +0.06 points	0.04%	0.10%
Spark New Zealand Ltd	SCZ +0.06 points	<0.01%	0.06%
Denka Co Ltd	DFIS +0.07 points	0.11%	0.04%
Sbm Offshore NV	DFIS +0.07 points	0.21%	0.14%
Georgia Capital PLCCGEO.L	DFIS +0.06 points	0.11%	0.05%
Azelis Group NV	SCZ +0.06 points	0.03%	0.09%
Alps Alpine Co Ltd	DFIS +0.06 points	0.12%	0.06%
Yamazaki Baking Co Ltd	SCZ +0.06 points	0.02%	0.08%
Serco Group PLCSRP.L	DFIS +0.06 points	0.17%	0.11%
Nitto Boseki Co Ltd	SCZ +0.06 points	<0.01%	0.06%
Al Sydbank	SCZ +0.06 points	0.15%	0.21%
Kakaku.com Inc	SCZ +0.06 points	0.02%	0.08%
Randstad NV	DFIS +0.06 points	0.19%	0.13%
Agl Energy Ltd	SCZ +0.06 points	0.05%	0.11%
Valeo SA	DFIS +0.06 points	0.13%	0.07%
Fuji Corp/Aichi	SCZ +0.06 points	0.02%	0.08%
Autotrader Group PLCAUTO.L	SCZ +0.06 points	0.10%	0.16%
Koninklijke Bam Groep NV	DFIS +0.06 points	0.15%	0.09%
Telix Pharmaceuticals Ltd	SCZ +0.05 points	0.02%	0.07%
Cleanaway Waste Managemen	SCZ +0.06 points	0.07%	0.13%
El Al Israel Airlines Ltd	SCZ +0.06 points	<0.01%	0.06%
Okuma Corp	DFIS +0.05 points	0.09%	0.04%
Canon Marketing Japan Inc	SCZ +0.06 points	<0.01%	0.06%
Capricorn Metals Ltd	SCZ +0.05 points	0.05%	0.10%
Nissui Corp	DFIS +0.05 points	0.11%	0.06%
Air Water Inc	SCZ +0.05 points	0.03%	0.08%
Scor SE	DFIS +0.05 points	0.22%	0.17%
Kobe Bussan Co Ltd	SCZ +0.05 points	0.02%	0.07%
Bellway PLCBWY.L	DFIS +0.06 points	0.15%	0.09%
Alk-Abello A/S	SCZ +0.06 points	0.08%	0.14%
Renk Group AG	DFIS +0.06 points	0.16%	0.10%

All 3,463 DFIS holdings⁠All 2,025 SCZ 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.

DFIS vs SCZ Cost

Overpaying SCZ vs DFIS

$192

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

DFIS 0.39%
$7,898
SCZ 0.40%
$8,090

Amount$10,000

Years30 years

Cost over time

DFIS 0.39%
SCZ 0.40%
Overpaying

Year by year

Year	DFIS	SCZ	Overpaying
10	$705	$723	$18
20	$2,725	$2,793	$68
30	$7,898	$8,090	$192

Expense ratio

0.39%DFIS, cheaper
0.40%SCZ

DFIS0.39%SCZ0.40%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

DFIS 4th cheapest of 16 funds

SCZ 6th cheapest of 16 funds

DFIS vs SCZ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFIS 2.23%; SCZ 3.22%, better
Payout (12M): DFIS $0.79; SCZ $2.67
Last payment: DFIS $0.19; SCZ $1.17
Ex-dividend: DFIS Sep 22, 2026; SCZ Jun 15, 2026
Paid on: DFIS Sep 24, 2026; SCZ Jun 18, 2026
Frequency: DFIS Quarterly; SCZ Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DFISQuarterly · 18 paymentsAll DFIS payments⁠

SCZTwice a year · 20 paymentsAll SCZ payments⁠

DFIS vs SCZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFIS 13.7%SCZ 13.6%, better
Return per unit of riskSharpe ratio, 3 years: DFIS 1.20, betterSCZ 1.04
Worst fallMax drawdown, 5 years: DFIS −27.2%since Mar 2022SCZ −35.5%
Market sensitivityBeta, 5 years: DFIS 0.98SCZ 1.00; Market = 1

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