DFIV vs EFV: Grades, Fees and Holdings Compared

Dimensional International Value ETF

DFIVANYSE Arca

iShares MSCI EAFE Value ETF

EFVACboe

Overlap

42.7%by weight

Expense ratio

DFIV −0.04pt a year

DFIV0.27%EFV0.31%

Avg volume · 30D

EFV 2.3×the volume

DFIV1.28MEFV2.91M

5Y return · a year

DFIV +1.2pt

DFIV+15.0%EFV+13.8%

DFIV vs EFV Performance

Oct 29, 2021 – Oct 30, 2026

+101.2%DFIV+91.1%EFV

Expense ratio: DFIV 0.27%, better; EFV 0.31%
Fund size: DFIV $22.1B; EFV $30.4B
1Y total return: DFIV +25.2%, better; EFV +21.6%
Yield (12M): DFIV 2.77%; EFV 4.61%, better
Holdings: DFIV 643; EFV 411
Avg volume (30D): DFIV 1.28M sh; EFV 2.91M sh, better
NAV per share: DFIV $56.38; EFV $79.12
52W range

ETF.net Grade

Pillar letters and Scores for DFIV, EFV, with each pillar’s weight
Pillar	DFIV	EFV
Cost30% weight	A71Higher	C54
Mission25% weight	A88	A100Higher
Risk15% weight	B65Higher	B60
Tradability15% weight	A81	A93Higher
Holdings10% weight	B68Higher	C52
Durability5% weight	A79	A90Higher

Rank among International Value Index funds

How we build Categories ›

Same Category. DFIV and EFV are both graded against the same 12 International Value Index funds, so their Grades compare head to head.

International Value Index⁠

Category · 12 funds

See all 12 ›

DFIV ranks 1st and EFV 2nd of 12 funds in the International Value Index Category.

Rank 1ADFIVDimensional International Value ETFScore 75
Rank 2AEFViShares MSCI EAFE Value ETFScore 73
Rank 3BEWJViShares MSCI Japan Value ETFScore 65

Our read on each fund

ETF.net Research

DFIVADimensional International Value ETF

EFVAiShares MSCI EAFE Value ETF

In short

DFIV A 1999-vintage Dimensional tax-managed strategy that swapped its mutual fund wrapper for an ETF in 2021. It buys cheap large-cap stocks across developed markets outside the US, with tax minimization written into the objective itself.

EFV Running since 2005, EFV is the big, heavily traded way to own the value half of developed markets outside North America: roughly 400 stocks tracking the MSCI EAFE Value Index for 0.31% a year.

Stated mandate

DFIV The ETF seeks long-term capital appreciation while minimizing federal income taxes on returns.

EFV The fund seeks to track an index of developed-market equities outside the United States and Canada that exhibit value characteristics.

Why people hold it

DFIV Tax awareness sits in the mandate, not the marketing: the stated objective is long-term capital appreciation while minimizing federal income taxes on returns.sec.gov
At 0.27% a year it undercuts the typical international value fund, so an active, judgment-driven portfolio comes at index-adjacent pricing.
Broad by design: roughly 600 large developed ex-US names screened on low price relative to book, with room to tilt toward smaller and more profitable companies.sec.gov
Priced below EFV, the other heavyweight in developed-markets value, and one of the strongest implementations in this peer group.

EFV 0.31% a year, below the typical fee among international-value funds, for a mandate that has been running since 2005.
Tracks the MSCI EAFE Value Index closely and trades actively as a multi-billion-dollar fund, which keeps the cost of getting in and out low.
About 400 developed-market value stocks in one ticker, picked by index rule rather than a manager's judgment.
Sits among the strongest implementations in its international-value peer group, next to Dimensional's DFIV.

Worth knowing

DFIV Value only, developed only: no US stocks, no emerging markets. Stretches where it looks nothing like a broad international index can run for years.sec.gov
Actively managed with no published index to check it against. Dimensional decides what counts as a cheap stock and when to trade it.sec.gov
The 1999 start date belongs to the Tax-Managed DFA International Value mutual fund, which became this ETF in a 2021 reorganization.sec.gov

EFV By design it holds only the cheap side of the EAFE universe, so its sector mix and results can look very different from a broad international index.
Developed markets only: no US, no Canada, no emerging markets. It's a slice of international, not the whole thing.
Not the cheapest seat in the room: FIVA runs 0.18% for its own version of international value.

Full DFIV profile⁠

Full EFV profile⁠

DFIV vs EFV Holdings

How DFIV and EFV differ

Overlap by weight

42.7%

Shared holdings make up 65.0% of EFV and 60.1% of DFIV.

Level by level

Holdings234 in both42.7%
Countryby domicile82.2%
Sector11 Sectors82.4%
Asset classEquity100%

Sector

Sector weights in DFIV and EFV, widest gap first
Sector	More in DFIVMore in EFV	DFIV	EFV
Energy	DFIV +8.9 points	16.8%	7.9%
Materials	DFIV +5.2 points	11.1%	5.9%
Financials	EFV +5.0 points	33.4%	38.4%
Consumer Staples	EFV +4.5 points	5.1%	9.6%
Utilities	EFV +3.8 points	2.1%	5.9%
Consumer Discretionary	DFIV +3.5 points	9.5%	6.0%
Health Care	EFV +2.4 points	5.7%	8.1%
Industrials	EFV +0.9 points	8.6%	9.5%
Real Estate	EFV +0.8 points	1.7%	2.5%
Technology	EFV +0.3 points	2.3%	2.6%
Communication	DFIV +0.1 points	3.7%	3.6%

Country, concentration and asset class

Country by domicile

Country weights in DFIV and EFV, widest gap first
Country	More in DFIVMore in EFV	DFIV	EFV
Canada	DFIV +10.3 points	10.3%	0.0%
United Kingdom	EFV +3.6 points	13.5%	17.1%
Japan	EFV +2.6 points	22.5%	25.1%
Spain	EFV +2.0 points	3.3%	5.3%
Italy	EFV +2.0 points	2.8%	4.8%
Denmark	DFIV +1.9 points	1.9%	0.0%
France	EFV +1.8 points	8.2%	10.0%
Switzerland	EFV +1.6 points	8.8%	10.4%
Other countries (17)	DFIV +1.4 points	28.8%	27.4%

Outside the US: DFIV 99% developed, 1% emerging. EFV 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

DFIV16.0%
EFV20.5%

Securities held

DFIV628
EFV395

Asset class

DFIV: Equity
EFV: Equity

Holdings

Only in DFIV394
In both234
Only in EFV161

Only in DFIV

394 securities, 39.7% of DFIV by weight

Shell PLC3.78%
Bp PLC1.09%
Toronto-Dominion Bank1.08%
Hsbc Holdings PLC1.00%
Suncor Energy Inc.0.97%
Holcim Ltd0.77%
Cie Financiere Richemont0.67%
Novartis AG Adr0.65%
Fairfax Financial Holding0.65%
Cenovus Energy Inc0.62%
Glencore PLC0.59%
Heidelberg Materials AG0.58%
Bank of Nova Scotia/The0.58%
Lonza Group AG0.57%
Nutrien Ltd0.54%
Tourmaline Oil Corp0.53%
Bank of Montreal0.51%
Bank of Montreal0.50%
Deutsche Telekom AG0.50%
Ubs Group AG0.48%
Bank of Nova Scotia/The0.45%
Barrick Mining Corp0.44%
Whitecap Resources Inc0.41%
Toronto-Dominion Bank/The0.38%
Teck Resources Ltd0.38%
Anheuser-Busch Inbev Sa/N0.37%
Manulife Financial Corp0.36%
Dsv As0.35%
Banco Santander SA0.34%
Genmab A/S0.33%
Sandoz Group AG0.31%
Boliden Ab0.29%
Resona Holdings Inc0.29%
Commerzbank Ag-Tend0.28%
Amrize Ltd0.28%
Rwe AG0.26%
Sumitomo Electric Industr0.26%
Suncor Energy Inc0.26%
Ubs Group AG0.26%
Northern Star Resources L0.25%
Pembina Pipeline Corp0.25%
Manulife Financial Corp0.25%
Magna International Inc0.24%
Ia Financial Corp Inc0.24%
Seven & I Holdings Co Ltd0.22%
Barclays PLC0.22%
Novonesis (Novozymes) B0.22%
Canadian Pacific Kansas C0.20%
Bluescope Steel Ltd0.20%
Deutsche Bank AG0.20%

Only in EFV

161 securities, 34.3% of EFV by weight

Nestle SA2.43%
Roche Ps Par AG2.05%
Novartis AG1.77%
Allianz1.71%
Iberdrola1.41%
Unilever PLC1.29%
Siemens N AG1.28%
Bhp Group Ltd1.23%
Rio Tinto0.80%
National Grid PLC0.77%
Enel0.73%
Lvmh0.64%
Softbank Group Corp0.63%
Csl0.62%
Diageo PLC0.48%
Kddi0.48%
Japan Tobacco0.46%
Danone SA0.42%
Reckitt Benckiser Group PLC0.42%
Lair Liquide Societe Anonyme Pour0.40%
Softbank0.39%
Murata Manufacturing0.39%
Dbs Group Holdings Ltd0.38%
Loreal SA0.37%
Orix0.37%
Assicurazioni Generali0.32%
Japan Post Bank Ltd0.32%
Tokio Marine Holdings0.32%
Ntt0.30%
3I Group Fund PLC0.29%
Renesas Electronics Corp0.29%
Imperial Brands PLC0.26%
Kyocera0.23%
Sampo Class A0.23%
Shin Etsu Chemical0.20%
Kao0.20%
Legal and General Group PLC0.19%
Helvetia Baloise Holding N AG0.19%
Hannover Rueck0.18%
Astellas Pharma0.17%
Nippon Yusen0.17%
Kerry Group PLC0.16%
Secom0.16%
Clp Holdings0.15%
Edp Energias De Portugal0.15%
Kansai Electric Power0.15%
Endesa SA0.14%
Terna Rete Elettrica Nazionale0.14%
Segro Reit PLC0.14%
Smc (Japan) Corp0.13%

Weight gaps

The 100 widest of 234 Holdings in both funds.

Holding weights in DFIV and EFV, widest gap first
Holding	More in DFIVMore in EFV	DFIV	EFV
Hsbc Holdings PLCHSBA.L	EFV +2.08 points	0.61%	2.69%
Mitsubishi Ufj Financial	EFV +1.95 points	0.19%	2.14%
Shell PLCSHEL.L	EFV +1.75 points	1.12%	2.87%
Banco Bilbao Vizcaya Arge	EFV +1.18 points	0.02%	1.20%
Bp PLCBP.L	EFV +0.94 points	0.27%	1.21%
Basf SE	DFIV +0.77 points	1.25%	0.48%
Mitsubishi Corp	EFV +0.76 points	0.09%	0.85%
Intesa Sanpaolo Spa	EFV +0.72 points	0.13%	0.85%
Eni Spa	DFIV +0.67 points	0.92%	0.25%
Axa SA	EFV +0.66 points	0.02%	0.68%
Unicredit Spa	EFV +0.65 points	0.36%	1.01%
Banco Santander SA	DFIV +0.62 points	1.58%	0.96%
Muenchener Rueckversicher	EFV +0.61 points	0.13%	0.74%
Totalenergies SE	DFIV +0.60 points	2.30%	1.70%
Sanofi	EFV +0.56 points	0.33%	0.89%
Repsol SA	DFIV +0.54 points	0.89%	0.35%
Mizuho Financial Group In	EFV +0.53 points	0.52%	1.05%
Barclays PLCBARC.L	EFV +0.51 points	0.18%	0.69%
Oversea-Chinese Banking C	EFV +0.51 points	0.18%	0.69%
Mitsui & Co Ltd	EFV +0.49 points	0.20%	0.69%
Bayer AG	DFIV +0.48 points	0.99%	0.51%
British American TobaccoBATS.L	EFV +0.47 points	0.66%	1.13%
Swiss Re AG	DFIV +0.46 points	0.97%	0.51%
Lloyds Banking Group PLCLLOY.L	DFIV +0.45 points	0.88%	0.43%
Koninklijke Ahold Delhaiz	DFIV +0.43 points	0.73%	0.30%
Orange SA	DFIV +0.41 points	0.69%	0.28%
Cie De Saint-Gobain	DFIV +0.40 points	0.71%	0.31%
Societe Generale SA	DFIV +0.40 points	0.79%	0.39%
Caixabank SA	EFV +0.39 points	<0.01%	0.40%
Sumitomo Mitsui Financial	EFV +0.38 points	0.99%	1.37%
Anz Group Holdings	EFV +0.37 points	0.42%	0.79%
Marubeni Corp	EFV +0.37 points	0.02%	0.39%
Nordea Bank Abp	EFV +0.36 points	0.13%	0.49%
Takeda Pharmaceutical Co	DFIV +0.36 points	0.67%	0.31%
Eneos Holdings Inc	DFIV +0.32 points	0.53%	0.21%
Daimler Truck Holding AG	DFIV +0.31 points	0.50%	0.19%
Nn Group NV	DFIV +0.31 points	0.52%	0.21%
Banco Bpm Spa	DFIV +0.30 points	0.44%	0.14%
Standard Chartered PLCSTAN.L	DFIV +0.30 points	0.59%	0.29%
Bt Group PLC	DFIV +0.30 points	0.46%	0.16%
Nokia Oyj	DFIV +0.29 points	0.55%	0.26%
Swiss Life Holding AG	DFIV +0.30 points	0.59%	0.29%
National Australia Bank L	EFV +0.27 points	0.56%	0.83%
Michelin	DFIV +0.28 points	0.48%	0.20%
Abn Amro Bank NV	DFIV +0.27 points	0.52%	0.25%
AvivaAV.L	EFV +0.27 points	<0.01%	0.27%
Santos Ltd	DFIV +0.26 points	0.45%	0.19%
Skf Ab	DFIV +0.24 points	0.33%	0.09%
Inpex Corp	DFIV +0.24 points	0.45%	0.21%
Haleon PLCHLN.L	EFV +0.24 points	0.11%	0.35%
Telefonaktiebolaget Lm Er	EFV +0.23 points	0.04%	0.27%
Engie SA	DFIV +0.23 points	0.66%	0.43%
Swisscom AG	DFIV +0.23 points	0.43%	0.20%
Bnp Paribas SA	EFV +0.23 points	0.64%	0.87%
Koninklijke Philips NV	DFIV +0.22 points	0.32%	0.10%
Heineken NV	DFIV +0.22 points	0.44%	0.22%
Kubota Corp	DFIV +0.21 points	0.35%	0.14%
Bper Banca	DFIV +0.21 points	0.40%	0.19%
Bouygues SA	DFIV +0.22 points	0.31%	0.09%
Aercap Holdings NVAER	EFV +0.21 points	0.02%	0.23%
Asr Nederland NV	DFIV +0.20 points	0.32%	0.12%
Yamaha Motor Co Ltd	DFIV +0.19 points	0.28%	0.09%
Subaru Corp	DFIV +0.18 points	0.26%	0.08%
Sumitomo Corp	EFV +0.18 points	0.22%	0.40%
Ing Groep NV	EFV +0.17 points	0.66%	0.83%
Asahi Kasei Corp	DFIV +0.17 points	0.28%	0.11%
Alcon Inc	EFV +0.17 points	0.04%	0.21%
Asahi Group Holdings Ltd	DFIV +0.16 points	0.30%	0.14%
Nebius Group NVNBIS	EFV +0.15 points	0.04%	0.19%
Aib Group PLC	EFV +0.15 points	0.08%	0.23%
Volkswagen AG	DFIV +0.14 points	0.29%	0.15%
Mitsubishi Chem Grp Corp	DFIV +0.14 points	0.22%	0.08%
Dnb Bank Asa	EFV +0.14 points	0.11%	0.25%
Idemitsu Kosan Co Ltd	DFIV +0.14 points	0.18%	0.04%
Givaudan SA	EFV +0.14 points	<0.01%	0.14%
Julius Baer Group Ltd	DFIV +0.13 points	0.29%	0.16%
Sumitomo Realty & Develop	DFIV +0.13 points	0.25%	0.12%
Mitsui Osk Lines Ltd	EFV +0.13 points	0.02%	0.15%
Sekisui House Ltd	DFIV +0.13 points	0.25%	0.12%
Henkel AG & Co Kgaa	DFIV +0.13 points	0.25%	0.12%
Telefonica SA	EFV +0.12 points	<0.01%	0.13%
Daiwa House Industry Co L	DFIV +0.12 points	0.27%	0.15%
J Sainsbury PLCSBRY.L	DFIV +0.12 points	0.19%	0.07%
Bank of Ireland Group PLC	DFIV +0.12 points	0.30%	0.18%
Vodafone Group PLCVOD.L	DFIV +0.11 points	0.38%	0.27%
Westpac Banking Corp	EFV +0.11 points	0.69%	0.81%
Equinor Asa	EFV +0.11 points	0.18%	0.29%
Sbi Holdings Inc/Japan	DFIV +0.11 points	0.20%	0.09%
Isuzu Motors Ltd	DFIV +0.11 points	0.17%	0.06%
Sika AG	EFV +0.11 points	0.09%	0.20%
Toyota Motor Corp	DFIV +0.11 points	1.81%	1.70%
Siemens Healthineers AG	EFV +0.11 points	0.04%	0.15%
Agc Inc/Japan	DFIV +0.11 points	0.17%	0.06%
Suzuki Motor Corp	DFIV +0.11 points	0.30%	0.19%
Mizrahi Tefahot Bank Ltd	EFV +0.11 points	<0.01%	0.11%
Ap Moller - Maersk A/S	DFIV +0.10 points	0.21%	0.11%
E.on SE	DFIV +0.11 points	0.54%	0.43%
Eiffage SA	DFIV +0.10 points	0.17%	0.07%
Canon Inc	EFV +0.10 points	0.12%	0.22%
Bca Mps	EFV +0.10 points	0.11%	0.21%

All 557 DFIV holdings⁠All 394 EFV 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.

DFIV vs EFV Cost

Overpaying EFV vs DFIV

$789

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

DFIV 0.27%
$5,557
EFV 0.31%
$6,346

Amount$10,000

Years30 years

Cost over time

DFIV 0.27%
EFV 0.31%
Overpaying

Year by year

Year	DFIV	EFV	Overpaying
10	$491	$563	$72
20	$1,907	$2,182	$275
30	$5,557	$6,346	$789

Expense ratio

0.27%DFIV, cheaper
0.31%EFV

DFIV0.27%EFV0.31%

0.08%0.65%

Middle half of International Value Index funds
Median 0.31%

DFIV 4th cheapest of 12 funds

EFV 5th cheapest of 12 funds

DFIV vs EFV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFIV 2.77%; EFV 4.61%, better
Payout (12M): DFIV $1.56; EFV $3.65
Last payment: DFIV $0.28; EFV $2.04
Ex-dividend: DFIV Sep 22, 2026; EFV Jun 15, 2026
Paid on: DFIV Sep 24, 2026; EFV Jun 18, 2026
Frequency: DFIV Quarterly; EFV Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DFIVQuarterly · 21 paymentsAll DFIV payments⁠

EFVTwice a year · 20 paymentsAll EFV payments⁠

DFIV vs EFV Risk

Fall from peak · 5 years

DFIV
EFV

Risk facts

VolatilityStd dev, 3 years: DFIV 11.4%EFV 11.4%
Return per unit of riskSharpe ratio, 3 years: DFIV 1.72, betterEFV 1.59
Worst fallMax drawdown, 5 years: DFIV −25.4%, betterEFV −25.8%
Market sensitivityBeta, 5 years: DFIV 0.80EFV 0.76; Market = 1

DFIV and EFV in the news

All news⁠

ETF Filings
American Century files a mutual-fund wrapper for Avantis international large-cap value
Sep 7, 2026DFIVEFV

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DFIV vs EFV

In short

Stated mandate

Why people hold it

Worth knowing

How DFIV and EFV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIV

Only in EFV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

American Century files a mutual-fund wrapper for Avantis international large-cap value

How DFIV and EFV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIV

Only in EFV

Weight gaps