DFIV vs ISVL: Grades, Fees and Holdings Compared

Dimensional International Value ETF

DFIVANYSE Arca

iShares International Developed Small Cap Value Factor ETF

ISVLBCboe

Overlap

0.5%by weight

Expense ratio

DFIV −0.04pt a year

DFIV0.27%ISVL0.31%

Avg volume · 30D

DFIV 86.4×the volume

DFIV1.28MISVL14.8K

5Y return · a year

DFIV +3.9pt

DFIV+15.0%ISVL+11.1%

DFIV vs ISVL Performance

Oct 29, 2021 – Oct 30, 2026

+101.2%DFIV+69.0%ISVL

Expense ratio: DFIV 0.27%, better; ISVL 0.31%
Fund size: DFIV $22.1B; ISVL $325M
1Y total return: DFIV +25.2%, better; ISVL +20.4%
Yield (12M): DFIV 2.77%; ISVL 3.07%, better
Holdings: DFIV 643; ISVL 536
Avg volume (30D): DFIV 1.28M sh, better; ISVL 14.8K sh
NAV per share: DFIV $56.38; ISVL $52.48
52W range

ETF.net Grade

Pillar letters and Scores for DFIV, ISVL, with each pillar’s weight
Pillar	DFIV	ISVL
Cost30% weight	A71Higher	C54
Mission25% weight	A88	A97Higher
Risk15% weight	B65Higher	C53
Tradability15% weight	A81Higher	D34
Holdings10% weight	B68	A81Higher
Durability5% weight	A79Higher	C43

Rank among International Value Index funds

How we build Categories ›

Same Category. DFIV and ISVL 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 ISVL 5th of 12 funds in the International Value Index Category.

Rank 1ADFIVDimensional International Value ETFScore 75
Rank 2AEFViShares MSCI EAFE Value ETFScore 73
Rank 4BVDVVanguard Developed Markets Ex-US Value Index ETFScore 64
Rank 5BISVLiShares International Developed Small Cap Value Factor ETFScore 63
Rank 6BFIVAFidelity International Value Factor ETFScore 61

Our read on each fund

ETF.net Research

DFIVADimensional International Value ETF

ISVLBiShares International Developed Small Cap Value Factor 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.

ISVL Small-cap value, index-fund plain and index-fund cheap. ISVL screens roughly 500 beaten-down small companies across developed markets outside the US (Korea excluded), the corner most international value funds skip on their way to the blue chips.

Stated mandate

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

ISVL The Fund tracks an index of international developed-market small-cap stocks outside the U.S. and Korea that exhibit prominent 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.

ISVL Costs 0.31% a year, under the typical fee in its international value peer group. Low overhead in a specialized niche is not the norm.
Literal about its job: it follows the FTSE Developed ex US ex Korea Small Cap Focused Value Index, and tracking has been tight. One of the stronger implementations in its group.
Roughly 500 holdings, so no single small-cap name steers the fund. Broad by design rather than a concentrated stock picker's list.
Fills a gap its own cohort mostly ignores: names like DFIV and EFV work the large-cap end of international value. This one goes down the size ladder.ishares.com

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

ISVL Thinly traded for its size, so bid-ask spreads can widen, especially around the open and close.
Korea sits outside the index, so this is not a full developed-markets ex-US sweep.
Small caps plus a value screen means a bumpier ride than large-cap international, and cash comes back once or twice a year, not quarterly.

Full DFIV profile⁠

Full ISVL profile⁠

DFIV vs ISVL Holdings

How DFIV and ISVL differ

Overlap by weight

0.5%

Shared holdings make up 8.2% of ISVL and 0.5% of DFIV.

Level by level

Holdings21 in both0.5%
Sector11 Sectors73.8%
Countryby domicile73.9%
Asset classEquity100%

Sector

Sector weights in DFIV and ISVL, widest gap first
Sector	More in DFIVMore in ISVL	DFIV	ISVL
Industrials	ISVL +17.2 points	8.6%	25.8%
Financials	DFIV +12.8 points	33.4%	20.6%
Energy	DFIV +10.2 points	16.8%	6.6%
Real Estate	ISVL +4.0 points	1.7%	5.7%
Materials	ISVL +2.8 points	11.1%	13.9%
Health Care	DFIV +2.4 points	5.7%	3.3%
Consumer Staples	ISVL +1.6 points	5.1%	6.7%
Communication	DFIV +0.8 points	3.7%	2.9%
Technology	ISVL +0.4 points	2.3%	2.7%
Consumer Discretionary	ISVL +0.3 points	9.5%	9.8%
Utilities	Same weight	2.1%	2.1%

Country, concentration and asset class

Country by domicile

Country weights in DFIV and ISVL, widest gap first
Country	More in DFIVMore in ISVL	DFIV	ISVL
Japan	ISVL +11.1 points	22.5%	33.6%
Germany	DFIV +5.0 points	8.3%	3.3%
France	DFIV +4.7 points	8.2%	3.5%
Sweden	ISVL +4.4 points	2.9%	7.3%
Canada	DFIV +3.1 points	10.3%	7.2%
Switzerland	DFIV +2.7 points	8.8%	6.1%
Netherlands	DFIV +2.5 points	4.3%	1.8%
Denmark	ISVL +2.2 points	1.9%	4.1%
Other countries (19)	ISVL +0.2 points	33.0%	33.2%

Outside the US: DFIV 99% developed, 1% emerging. ISVL 97% developed, 3% emerging.

Concentration

Weight in the 10 largest Holdings

DFIV16.0%
ISVL7.8%

Securities held

DFIV628
ISVL526

Asset class

DFIV: Equity
ISVL: Equity

Holdings

Only in DFIV607
In both21
Only in ISVL505

Only in DFIV

607 securities, 99.4% of DFIV by weight

Shell PLC3.78%
Totalenergies SE2.30%
Toyota Motor Corp1.81%
Banco Santander SA1.58%
Basf SE1.25%
Shell PLC1.12%
Bp PLC1.09%
Toronto-Dominion Bank1.08%
Zurich Insurance Group AG1.03%
Hsbc Holdings PLC1.00%
Bayer AG0.99%
Sumitomo Mitsui Financial0.99%
Suncor Energy Inc.0.97%
Swiss Re AG0.97%
Eni Spa0.92%
Repsol SA0.89%
Lloyds Banking Group PLC0.88%
Societe Generale SA0.79%
Holcim Ltd0.77%
Koninklijke Ahold Delhaiz0.73%
Cie De Saint-Gobain0.71%
Westpac Banking Corp0.69%
Orange SA0.69%
Cie Financiere Richemont0.67%
Takeda Pharmaceutical Co0.67%
British American Tobacco0.66%
Engie SA0.66%
Ing Groep NV0.66%
Novartis AG Adr0.65%
Fairfax Financial Holding0.65%
Bnp Paribas SA0.64%
Cenovus Energy Inc0.62%
Hsbc Holdings PLC0.61%
Glencore PLC0.59%
Natwest Group PLC0.59%
Standard Chartered PLC0.59%
Swiss Life Holding AG0.59%
Heidelberg Materials AG0.58%
Bank of Nova Scotia/The0.58%
Lonza Group AG0.57%
National Australia Bank L0.56%
Nokia Oyj0.55%
Nutrien Ltd0.54%
Dhl AG0.54%
E.on SE0.54%
Tourmaline Oil Corp0.53%
Eneos Holdings Inc0.53%
Mizuho Financial Group In0.52%
Nn Group NV0.52%
Abn Amro Bank NV0.52%

Only in ISVL

505 securities, 91.1% of ISVL by weight

Londonmetric Property Reit PLC0.82%
Iss A’s0.79%
Lion Finance Group PLC0.78%
Voestalpine AG0.78%
Balfour Beatty PLC0.77%
Aberdeen Group PLC0.76%
Tritax Big Box Reit PLC0.73%
Onex0.69%
Glanbia PLC0.67%
Avanza Bank Holding0.67%
Adecco Group AG0.66%
Tamarack Valley Energy Ltd0.66%
Motor Oil (Hellas) Corinth Refiner0.66%
Valmet Corp0.64%
Mondi PLC0.63%
Azimut Holding0.60%
Acerinox0.59%
Bank of Cyprus Holding0.58%
Athabasca Oil0.57%
Tecan Group AG0.53%
Sulzer AG0.53%
Serco Group PLC0.52%
Peyto Exploration & Development0.52%
Baytex Energy0.52%
Drax Group PLC0.52%
Granite Real Estate Investment Sta0.52%
Pge Polska Grupa Energetyczna SA0.50%
Arkema SA0.50%
Bam Groep Koninklijke NV0.49%
Russel Metals0.48%
Easyjet0.47%
Aurubis AG0.47%
Delonghi0.47%
Dksh Holding AG0.47%
Unite Group Reit PLC0.45%
Royal Unibrew0.45%
Tp Icap Group PLC0.44%
Puig Brands SA Class B0.44%
Greggs PLC0.44%
Mandatum0.44%
Interpump Group0.43%
Hyakugo Bank0.41%
Vontobel Holding AG0.41%
Sopra Steria Group0.41%
Rubis0.41%
Sweco Class B0.41%
Torm PLC Class A0.41%
Shaftesbury Capital Reit PLC0.40%
Bavarian Nordic0.40%
Valiant Holding AG0.40%

Weight gaps

All 21 Holdings in both funds, largest gap first.

Holding weights in DFIV and ISVL, widest gap first
Holding	More in DFIVMore in ISVL	DFIV	ISVL
Al Sydbank	ISVL +0.95 points	0.02%	0.97%
Perseus Mining Ltd	ISVL +0.70 points	0.07%	0.77%
Investec PLCINVP.L	ISVL +0.65 points	0.03%	0.68%
Daishi Hokuetsu Financial	ISVL +0.51 points	<0.01%	0.51%
Nishi-Nippon Financial Ho	ISVL +0.49 points	<0.01%	0.49%
Loomis Ab	ISVL +0.46 points	0.08%	0.54%
Shiga Bank Ltd/The	ISVL +0.45 points	<0.01%	0.45%
Bravida Holding Ab	ISVL +0.45 points	<0.01%	0.45%
Tgs Asa	ISVL +0.39 points	0.03%	0.42%
Asmodee Group Ab-B	ISVL +0.36 points	0.02%	0.38%
Hexpol Ab	ISVL +0.31 points	0.03%	0.34%
Holmen Ab	ISVL +0.27 points	0.02%	0.29%
Canal+ SadirCAN.L	ISVL +0.27 points	<0.01%	0.27%
Alleima Ab	ISVL +0.25 points	<0.01%	0.25%
Bw Lpg Ltd	ISVL +0.23 points	0.09%	0.32%
Wallenius Wilhelmsen Asa	ISVL +0.21 points	0.05%	0.26%
Oil Refineries Ltd	ISVL +0.19 points	<0.01%	0.19%
Peab Ab	ISVL +0.18 points	0.02%	0.20%
Aker Solutions Asa	ISVL +0.16 points	<0.01%	0.16%
Brookfield Wealth Solutio	ISVL +0.14 points	<0.01%	0.14%
Isracard Ltd	ISVL +0.10 points	0.00%	0.10%

All 557 DFIV holdings⁠All 526 ISVL 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 ISVL Cost

Overpaying ISVL vs DFIV

$789

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

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

Amount$10,000

Years30 years

Cost over time

DFIV 0.27%
ISVL 0.31%
Overpaying

Year by year

Year	DFIV	ISVL	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%ISVL

DFIV0.27%ISVL0.31%

0.08%0.65%

Middle half of International Value Index funds
Median 0.31%

DFIV 4th cheapest of 12 funds

ISVL 5th cheapest of 12 funds

DFIV vs ISVL Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFIV 2.77%; ISVL 3.07%, better
Payout (12M): DFIV $1.56; ISVL $1.61
Last payment: DFIV $0.28; ISVL $1.01
Ex-dividend: DFIV Sep 22, 2026; ISVL Jun 15, 2026
Paid on: DFIV Sep 24, 2026; ISVL Jun 18, 2026
Frequency: DFIV Quarterly; ISVL Twice a year

Distribution history

Per share, 2021 to 2026, same scale for both

DFIVQuarterly · 21 paymentsAll DFIV payments⁠

ISVLTwice a year · 12 paymentsAll ISVL payments⁠

DFIV vs ISVL Risk

Fall from peak · 5 years

DFIV
ISVL

Risk facts

VolatilityStd dev, 3 years: DFIV 11.4%, betterISVL 13.5%
Return per unit of riskSharpe ratio, 3 years: DFIV 1.72, betterISVL 1.42
Worst fallMax drawdown, 5 years: DFIV −25.4%, betterISVL −30.0%
Market sensitivityBeta, 5 years: DFIV 0.80ISVL 0.94; Market = 1

DFIV and ISVL in the news

All news⁠

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

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DFIV vs ISVL

In short

Stated mandate

Why people hold it

Worth knowing

How DFIV and ISVL differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIV

Only in ISVL

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 ISVL differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFIV

Only in ISVL

Weight gaps