DFIS vs VSS: Grades, Fees and Holdings Compared

Dimensional International Small Cap ETF

DFISACboe

Vanguard FTSE All-World ex-US Small-Cap ETF

VSSANYSE Arca

Overlap

39.6%by weight

Expense ratio

VSS −0.33pt a year

DFIS0.39%VSS0.06%

Avg volume · 30D

DFIS 2.9×the volume

DFIS693KVSS243K

3Y return · a year

DFIS +4.8pt

DFIS+22.0%VSS+17.2%

DFIS vs VSS Performance

Oct 31, 2025 – Oct 30, 2026

+15.6%DFIS+7.2%VSS

Expense ratio: DFIS 0.39%; VSS 0.06%, better
Fund size: DFIS $5.76B; VSS $13.9B
1Y total return: DFIS +15.6%, better; VSS +7.2%
Yield (12M): DFIS 2.23%; VSS 3.04%, better
Holdings: DFIS 3503; VSS 5088
Avg volume (30D): DFIS 693K sh, better; VSS 243K sh
NAV per share: DFIS $35.55; VSS $147.79
52W range

ETF.net Grade

Pillar letters and Scores for DFIS, VSS, with each pillar’s weight
Pillar	DFIS	VSS
Cost30% weight	A70	A97Higher
Mission25% weight	A100	A100
Risk15% weight	B55Higher	D26
Tradability15% weight	A71Higher	B59
Holdings10% weight	B66	A77Higher
Durability5% weight	B55	A91Higher

Rank among International Small-Cap funds

How we build Categories ›

Same Category. DFIS and VSS 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 ›

VSS ranks 3rd 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

VSSAVanguard FTSE All-World ex-US Small-Cap ETF

In short

DFIS No data

VSS One ticker for the small companies the rest of the world runs on: roughly 4,800 stocks across developed and emerging markets outside the US, at 0.06% a year. Vanguard has run it since 2009.

Stated mandate

DFIS No data

VSS Seeks to track the FTSE Global Small Cap ex US Index, providing broad exposure to developed and emerging non-U.S. small-cap equity markets worldwide through passive index sampling.

Why people hold it

DFIS No data

VSS 0.06% a year, against a roughly 0.40% median for international small-cap funds. Only Schwab's SCHC matches the price.
Developed and emerging markets in the same basket, roughly 4,800 names deep, so no single country or company carries much of the load.
Tracks its FTSE Global Small Cap ex US benchmark closely and trades tightly for a fund built on thousands of overseas small caps.
Running since 2009, now a multi-billion-dollar fund that pays out quarterly. Long track record, deep plumbing.vanguard.com

Worth knowing

DFIS No data

VSS Small caps abroad move harder than blue chips, and everything is priced back into dollars, so currency swings ride along.vanguard.com
Vanguard samples the index rather than buying every line item, so the portfolio approximates the benchmark instead of replicating it.vanguard.com
Coverage stops at the US border by design. American small caps sit entirely outside the mandate.

Full DFIS profile⁠

Full VSS profile⁠

DFIS vs VSS Holdings

How DFIS and VSS differ

Overlap by weight

39.6%

Shared holdings make up 54.8% of DFIS and 47.4% of VSS.

Level by level

Holdings1,608 in both39.6%
Countryby domicile63.6%
Sector11 Sectors88.8%
Asset classEquity100%

Sector

Sector weights in DFIS and VSS, widest gap first
Sector	More in DFISMore in VSS	DFIS	VSS
Technology	VSS +5.4 points	9.0%	14.4%
Real Estate	VSS +4.5 points	3.1%	7.7%
Consumer Discretionary	DFIS +3.8 points	14.0%	10.2%
Industrials	DFIS +2.9 points	24.9%	22.0%
Health Care	VSS +1.3 points	5.7%	7.0%
Consumer Staples	DFIS +1.3 points	5.5%	4.2%
Energy	DFIS +1.1 points	5.3%	4.2%
Utilities	DFIS +0.7 points	3.0%	2.3%
Communication	DFIS +0.5 points	3.0%	2.5%
Financials	DFIS +0.5 points	12.2%	11.7%
Materials	DFIS +0.4 points	14.2%	13.8%

Country, concentration and asset class

Country by domicile

Country weights in DFIS and VSS, widest gap first
Country	More in DFISMore in VSS	DFIS	VSS
Japan	DFIS +11.2 points	27.3%	16.1%
Taiwan	VSS +8.2 points	0.0%	8.2%
India	VSS +6.8 points	0.0%	6.8%
China	VSS +5.6 points	0.2%	5.8%
South Korea	VSS +5.4 points	0.0%	5.4%
Switzerland	DFIS +4.2 points	7.3%	3.1%
United Kingdom	DFIS +3.5 points	11.7%	8.2%
Germany	DFIS +3.2 points	6.1%	2.9%
Other countries (31)	DFIS +4.1 points	47.4%	43.3%

Outside the US: DFIS 98% developed, 2% emerging. VSS 64% developed, 36% emerging.

Concentration

Weight in the 10 largest Holdings

DFIS3.3%
VSS9.2%

Securities held

DFIS3,488
VSS5,049

Asset class

DFIS: Equity
VSS: Equity

Holdings

Only in DFIS1,880
In both1,608
Only in VSS3,441

Only in DFIS

1,880 securities, 44.9% of DFIS by weight

Qiagen NV Com0.46%
Vat Group AG0.40%
Orion Oyj0.37%
Poste Italiane Spa0.34%
Finning International Inc0.33%
Gea Group AG0.31%
Rexel SA0.31%
Swiss Prime Site AG0.31%
Mercari Inc0.30%
Hiscox Ltd0.30%
Saipem Spa0.29%
Brenntag SE0.28%
Akzo Nobel NV0.28%
Belimo Holding AG0.27%
Psp Swiss Property AG0.26%
Canadian Tire Corp Ltd0.26%
Imcd NV0.26%
Zalando SE0.26%
Kesko Oyj0.24%
Helvetia Baloise Holding0.24%
Accelleron Industries Ltd0.24%
Carrefour SA0.24%
Spie SA0.24%
Symrise AG0.24%
Hudbay Minerals Inc0.23%
Games Workshop Group PLC0.23%
Eurofins Scientific0.22%
Scor SE0.22%
Accor SA0.22%
Kingfisher PLC0.22%
Swatch Group Ag/The0.22%
Fresenius Medical Care AG0.22%
Indra Sistemas SA0.21%
Ackermans & Van Haaren NV0.21%
Evonik Industries AG0.21%
Hensoldt AG0.20%
Colliers International Gr0.20%
Oceanagold Corp0.20%
Mitsubishi Materials Corp0.20%
Alstom SA0.20%
Bawag Group AG0.20%
Italgas Spa0.19%
Randstad NV0.19%
Blackberry Limited0.19%
Nordex SE0.19%
Dcc Energy PLC0.19%
Edenred0.18%
Swissquote Group Holding0.18%
Logitech International SA0.18%
Flughafen Zurich AG0.18%

Only in VSS

3,441 securities, 52.1% of VSS by weight

SLBBH11425.88%
Eldorado Gold Corp0.23%
Storebrand ASA0.20%
G Mining Ventures Corp0.19%
Frontline PLC0.18%
LandMark Optoelectronics Corp0.17%
Aedifica SA0.17%
OceanaGold Corp0.15%
Aberdeen Group PLC0.15%
OR Royalties Inc0.14%
LondonMetric Property PLC0.14%
NexGen Energy Ltd0.14%
PrairieSky Royalty Ltd0.14%
Jusung Engineering Co Ltd0.13%
Tritax Big Box REIT PLC0.13%
Mycronic AB0.13%
Avanza Bank Holding AB0.13%
Motor Oil Hellas Corinth Refineries SA0.12%
SpareBank 1 Sor-Norge ASA0.12%
Chartwell Retirement Residences0.12%
Onex Corp0.12%
CD Projekt Red SA0.12%
Glanbia PLC0.11%
RioCan Real Estate Investment Trust0.11%
ITEQ Corp0.11%
Montage Gold Corp0.11%
Zabka Group SA0.11%
KBC Ancora0.11%
Bank of Cyprus Holdings PLC0.11%
Lagercrantz Group AB0.11%
Fositek Corp0.10%
Benefit Systems SA0.10%
Kaori Heat Treatment Co Ltd0.10%
Chipbond Technology Corp0.10%
Brookfield Renewable Corp0.10%
Insilico Medicine Cayman TopCo0.10%
RENK Group AG0.10%
Welspun Corp Ltd0.09%
XtalPi Holdings Ltd0.09%
Sectra AB0.09%
Granite Real Estate Investment Trust0.09%
Greatland Resources Ltd0.09%
Bank Millennium SA0.09%
Sigurd Microelectronics Corp0.09%
Radico Khaitan Ltd0.09%
First Capital Real Estate Investment Trust0.09%
Aris Mining Corp0.09%
Canadian Apartment Properties REIT0.09%
Entain PLC0.09%
PGE Polska Grupa Energetyczna SA0.08%

Weight gaps

The 100 widest of 1,608 Holdings in both funds.

Holding weights in DFIS and VSS, widest gap first
Holding	More in DFISMore in VSS	DFIS	VSS
Namura Shipbuilding Co Lt	DFIS +0.23 points	0.27%	0.04%
Shibaura Mechatronics Cor	DFIS +0.22 points	0.26%	0.04%
South Bow Corp	VSS +0.17 points	<0.01%	0.17%
B2GOLD Corp	VSS +0.13 points	0.03%	0.16%
Perseus Mining Ltd	VSS +0.14 points	0.01%	0.15%
Babcock International GroBAB.L	DFIS +0.13 points	0.19%	0.06%
Wpp PLCWPP.L	VSS +0.12 points	0.01%	0.13%
Or Royalties IncOR	DFIS +0.12 points	0.14%	0.02%
Codan Ltd/Australia	VSS +0.11 points	0.02%	0.13%
Soitec	VSS +0.11 points	<0.01%	0.11%
Brookfield Infrastructure	VSS +0.11 points	<0.01%	0.11%
Methanex Corp	VSS +0.11 points	<0.01%	0.11%
Capital Power Corp	DFIS +0.10 points	0.27%	0.17%
Discovery Mining Ltd	VSS +0.10 points	<0.01%	0.11%
Blackberry Ltd	VSS +0.10 points	0.03%	0.13%
North Pacific Bank Ltd	DFIS +0.10 points	0.17%	0.07%
Tamarack Valley Energy Lt	DFIS +0.10 points	0.21%	0.11%
Suruga Bank Ltd	DFIS +0.09 points	0.15%	0.06%
Northland Power Inc	DFIS +0.10 points	0.20%	0.10%
Colliers International Gr	VSS +0.09 points	<0.01%	0.10%
Thyssenkrupp AG	DFIS +0.09 points	0.29%	0.20%
Loomis Ab	VSS +0.10 points	<0.01%	0.10%
Athabasca Oil Corp	DFIS +0.09 points	0.18%	0.09%
Man Group Plc/JerseyEMG.L	DFIS +0.08 points	0.21%	0.13%
Peyto Exploration & Devel	DFIS +0.09 points	0.17%	0.08%
Pan African Resources PLCPAF.L	DFIS +0.09 points	0.17%	0.08%
Serco Group PLCSRP.L	DFIS +0.09 points	0.17%	0.08%
Transalta Corp	VSS +0.08 points	<0.01%	0.08%
Russel Metals Inc	DFIS +0.08 points	0.17%	0.09%
Furuya Metal Co Ltd	DFIS +0.08 points	0.11%	0.03%
Dpm Metals Inc	DFIS +0.07 points	0.31%	0.24%
Computacenter PLCCCC.L	DFIS +0.08 points	0.18%	0.10%
Sbm Offshore NV	DFIS +0.08 points	0.21%	0.13%
Mda Space Ltd	DFIS +0.08 points	0.18%	0.10%
Swcc Corp	DFIS +0.08 points	0.14%	0.06%
Japan Electronic Material	DFIS +0.07 points	0.09%	0.02%
Ero Copper Corp	VSS +0.07 points	0.02%	0.09%
Sulzer AG	DFIS +0.07 points	0.15%	0.08%
Gibson Energy Inc	DFIS +0.07 points	0.16%	0.09%
Easyjet PLCEZJ.L	VSS +0.07 points	0.01%	0.08%
Centerra Gold Inc	DFIS +0.07 points	0.18%	0.11%
Georgia Capital PLCCGEO.L	DFIS +0.07 points	0.11%	0.04%
Eqb Inc	DFIS +0.07 points	0.12%	0.05%
Fortuna Silver Mines Inc	VSS +0.06 points	0.02%	0.08%
Bellway PLCBWY.L	DFIS +0.07 points	0.15%	0.08%
Lion Finance Group PLCBGEO.L	DFIS +0.07 points	0.23%	0.16%
Algonquin Power & Utiliti	VSS +0.07 points	0.03%	0.10%
Investec PLCINVP.L	VSS +0.06 points	0.06%	0.12%
Denka Co Ltd	DFIS +0.07 points	0.11%	0.04%
Trekor Metals Ltd	VSS +0.06 points	0.02%	0.08%
Aecon Group Inc	DFIS +0.07 points	0.13%	0.06%
Endeavour Silver Corp	VSS +0.06 points	<0.01%	0.06%
Aya Gold & Silver Inc	VSS +0.06 points	0.03%	0.09%
Qinetiq Group PLCQQ.L	DFIS +0.06 points	0.13%	0.07%
Mobimo Holding AG	DFIS +0.06 points	0.13%	0.07%
Renishaw PLCRSW.L	VSS +0.06 points	<0.01%	0.07%
Zegona Communications PLCZEG.L	VSS +0.06 points	0.04%	0.10%
Nissui Corp	DFIS +0.06 points	0.11%	0.05%
Capricorn Metals Ltd	VSS +0.06 points	0.05%	0.11%
Koninklijke Bam Groep NV	DFIS +0.06 points	0.15%	0.09%
Baytex Energy Corp	DFIS +0.05 points	0.13%	0.08%
Yoshinoya Holdings Co Ltd	DFIS +0.06 points	0.10%	0.04%
Nippon Shokubai Co Ltd	DFIS +0.06 points	0.10%	0.04%
West Fraser Timber Co Ltd	VSS +0.06 points	0.03%	0.09%
Elekta Ab	DFIS +0.05 points	0.10%	0.05%
Ube Corp	DFIS +0.05 points	0.10%	0.05%
Technip Energies NV	DFIS +0.06 points	0.17%	0.11%
Valiant Holding AG	DFIS +0.06 points	0.13%	0.07%
Nkt A/S	VSS +0.06 points	0.12%	0.18%
Okuma Corp	DFIS +0.05 points	0.09%	0.04%
Lightspeed Commerce IncLSPD	DFIS +0.06 points	0.06%	<0.01%
Ssr Mining Inc	DFIS +0.06 points	0.23%	0.17%
Anritsu Corp	VSS +0.06 points	0.01%	0.07%
K's Holdings Corp	DFIS +0.05 points	0.08%	0.03%
Solvay SA	DFIS +0.05 points	0.10%	0.05%
AUTO1 Group SE	VSS +0.06 points	<0.01%	0.06%
Tui AG	DFIS +0.05 points	0.14%	0.09%
Hokkaido Electric Power C	DFIS +0.06 points	0.09%	0.03%
Sprott Inc	VSS +0.05 points	0.01%	0.06%
Azelis Group NV	VSS +0.05 points	0.03%	0.08%
Oki Electric Industry Co	DFIS +0.05 points	0.09%	0.04%
B&M European Value RetailBME.L	DFIS +0.05 points	0.14%	0.09%
PLUS500 LtdPLUS.L	DFIS +0.05 points	0.13%	0.08%
Ams-Osram AG	DFIS +0.05 points	0.11%	0.06%
5N Plus Inc	DFIS +0.05 points	0.10%	0.05%
Toyo Tanso Co Ltd	DFIS +0.05 points	0.07%	0.02%
Pacific Basin Shipping Lt	DFIS +0.05 points	0.10%	0.05%
Tieto Oyj	DFIS +0.05 points	0.09%	0.04%
Ces Energy Solutions Corp	DFIS +0.05 points	0.11%	0.06%
Gaztransport Et Technigaz	DFIS +0.05 points	0.27%	0.22%
Breville Group Ltd	DFIS +0.05 points	0.10%	0.05%
Megaport Ltd	VSS +0.04 points	0.04%	0.08%
Saizeriya Co Ltd	DFIS +0.05 points	0.08%	0.03%
Ut Group Co Ltd	DFIS +0.04 points	0.05%	<0.01%
Senshu Ikeda Holdings Inc	DFIS +0.05 points	0.09%	0.04%
Bird Construction Inc	DFIS +0.04 points	0.12%	0.08%
Grafton Group PLCGFTU.L	DFIS +0.05 points	0.10%	0.05%
Vallourec SA	DFIS +0.04 points	0.15%	0.11%
Mullen Group Ltd	DFIS +0.05 points	0.09%	0.04%
Allreal Holding AG	DFIS +0.05 points	0.13%	0.08%

All 3,463 DFIS holdings⁠All 4,816 VSS 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 VSS Cost

Overpaying DFIS vs VSS

$6,628

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

DFIS 0.39%
$7,898
VSS 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

DFIS 0.39%
VSS 0.06%
Overpaying

Year by year

Year	DFIS	VSS	Overpaying
10	$705	$110	$595
20	$2,725	$432	$2,293
30	$7,898	$1,270	$6,628

Expense ratio

0.39%DFIS
0.06%VSS, cheaper

VSS0.06%DFIS0.39%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

VSS cheapest of 16 funds

DFIS 4th cheapest of 16 funds

DFIS vs VSS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFIS 2.23%; VSS 3.04%, better
Payout (12M): DFIS $0.79; VSS $4.51
Last payment: DFIS $0.19; VSS $0.30
Ex-dividend: DFIS Sep 22, 2026; VSS Sep 18, 2026
Paid on: DFIS Sep 24, 2026; VSS Sep 22, 2026
Frequency: DFIS Quarterly; VSS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DFISQuarterly · 18 paymentsAll DFIS payments⁠

VSSQuarterly · 31 paymentsAll VSS payments⁠

DFIS vs VSS 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%, betterVSS 14.1%
Return per unit of riskSharpe ratio, 3 years: DFIS 1.20, betterVSS 0.88
Worst fallMax drawdown, 5 years: DFIS −27.2%since Mar 2022VSS −33.3%
Market sensitivityBeta, 5 years: DFIS 0.98VSS 0.98; Market = 1

DFIS and VSS in the news

All news⁠

Best ETFs
Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%
Updated Nov 2, 2026VSS

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DFIS vs VSS

In short

Stated mandate

Why people hold it

Worth knowing

How DFIS and VSS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIS

Only in VSS

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%

How DFIS and VSS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIS

Only in VSS

Weight gaps