DFLV vs LCF: Grades, Fees and Holdings Compared

Dimensional US Large Cap Value ETF

DFLVANYSE Arca

Touchstone US Large Cap Focused ETF

LCFDCboe

Overlap

19.8%by weight

Expense ratio

DFLV −0.35pt a year

DFLV0.21%LCF0.56%

Avg volume · 30D

DFLV 804.4×the volume

DFLV658KLCF818

3Y return · a year

DFLV +3.6pt

DFLV+21.8%LCF+18.2%

DFLV vs LCF Performance

Oct 31, 2025 – Nov 2, 2026

+29.6%DFLV+7.3%LCF

Expense ratio: DFLV 0.21%, better; LCF 0.56%
Fund size: DFLV $7.39B; LCF $70M
1Y total return: DFLV +29.6%, better; LCF +7.3%
Yield (12M): DFLV 1.35%, better; LCF 0.51%
Holdings: DFLV 336; LCF 46
Avg volume (30D): DFLV 658K sh, better; LCF 818 sh
NAV per share: DFLV $41.86; LCF $44.80
52W range

ETF.net Grade

Pillar letters and Scores for DFLV, LCF, with each pillar’s weight
Pillar	DFLV	LCF
Cost30% weight	A92Higher	C42
Mission25% weight	Not scored	A78
Risk15% weight	A72Higher	D37
Tradability15% weight	A82Higher	C44
Holdings10% weight	A78Higher	D29
Durability5% weight	A83Higher	C41

Rank among US Active Value funds

How we build Categories ›

Same Category. DFLV and LCF are both graded against the same 64 US Active Value funds, so their Grades compare head to head.

US Active Value⁠

Category · 64 funds

See all 64 ›

DFLV ranks 4th and LCF 45th of 64 funds in the US Active Value Category.

Rank 1AAVLVAvantis U.S. Large Cap Value ETFScore 86
Rank 2ASEIVSEI QiM U.S. Large Cap Value Active ETFScore 85
Rank 2AWTVWisdomTree U.S. Value FundScore 85
Rank 4ADFLVDimensional US Large Cap Value ETFScore 83
Rank 5AAVMVAvantis U.S. Mid Cap Value ETFScore 79
Rank 45CBRSVEA Bridgeway Select Small-Cap Value ETFScore 39
Rank 45DLCFTouchstone US Large Cap Focused ETFScore 39
Rank 45DPZLVPzena U.S. Large Cap Value ETFScore 39

Our read on each fund

ETF.net Research

DFLVADimensional US Large Cap Value ETF

LCFDTouchstone US Large Cap Focused ETF

In short

DFLV Dimensional's value playbook in an ETF wrapper: large-cap value that also screens for profitability, spread across roughly 300 names, run by research rather than an index. Active by design, index-fund cheap in practice.

LCF A 25-to-45-stock book built on one idea: durable moats trading below their intrinsic value. Fort Washington runs it, non-diversified by design, at 0.56% net of a waiver through April 29, 2027.

Stated mandate

DFLV The ETF seeks long-term capital appreciation. Its investment approach combines research, portfolio design, portfolio management, and trading, emphasizing long-term expected-return drivers and broad diversification.

LCF The Fund seeks capital appreciation through an actively managed portfolio of U.S. companies selected for attractive intrinsic value and durable competitive advantages.

Why people hold it

DFLV Costs 0.21% a year, well under half the 0.55% median for US value funds in its peer group. Active management without the active price tag.
Cheap alone doesn't get you in. The portfolio screens on value and profitability together, a filter aimed at cut-rate stocks that actually earn money.
No index to shadow. Dimensional can trade on its own schedule and spreads the money across about 300 large-cap names instead of a handful of bets.
Sits in the top tier of the US value funds we grade, and it is a multi-billion-dollar fund that trades actively, so getting in and out is rarely the hard part.

LCF The filter is specific: businesses trading below Fort Washington's estimate of intrinsic value with real barriers to entry (scale, customer loyalty, cost edge, a license).sec.gov
Genuinely concentrated. Generally 25 to 45 companies with cash held under 10% of assets, so individual picks actually move the portfolio.sec.gov
Since its 2022 launch it has stayed in its stated lane: US large caps bought on valuation, no drift into whatever is hot.

Worth knowing

DFLV Not the cheapest seat in the room: AVLV and SEIV run 0.15%, WTV 0.12%. You're paying a bit more for Dimensional's process.
Being benchmark-free cuts both ways. With no index to measure against, there is no tracking-error scoreboard, and outcomes ride on the manager's judgment.
Launched in December 2022, so the ETF's own record is short, and a value tilt behaves differently from the broad market. It pays quarterly.

LCF 0.56% net of a waiver through April 29, 2027 (1.18% gross) sits near the category norm, but rules-based peers like WTV at 0.12% and AVLV at 0.15% cost far less.
Non-diversified cuts both ways: a stumble in one of a few dozen names lands harder here than in a 500-stock index fund.sec.gov
One of the smaller, more thinly traded funds in its category, so spreads can be wide. Limit orders are the standard tool.

Full DFLV profile⁠

Full LCF profile⁠

DFLV vs LCF Holdings

How DFLV and LCF differ

Overlap by weight

19.8%

Shared holdings make up 44.9% of LCF and 22.6% of DFLV.

Level by level

Holdings24 in both19.8%
Sector11 Sectors61.3%
Countryby domicile98.0%
Asset classEquity100%

Sector

Sector weights in DFLV and LCF, widest gap first
Sector	More in DFLVMore in LCF	DFLV	LCF
Technology	LCF +28.4 points	9.1%	37.5%
Energy	DFLV +12.1 points	14.9%	2.8%
Communication	LCF +9.4 points	7.0%	16.4%
Financials	DFLV +8.5 points	21.7%	13.2%
Industrials	DFLV +7.4 points	12.9%	5.5%
Materials	DFLV +6.1 points	6.8%	0.7%
Health Care	DFLV +3.8 points	14.0%	10.2%
Real Estate	LCF +0.9 points	0.4%	1.3%
Consumer Staples	DFLV +0.7 points	4.8%	4.1%
Consumer Discretionary	DFLV +0.1 points	8.4%	8.3%
Utilities	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in DFLV and LCF, widest gap first
Country	More in DFLVMore in LCF	DFLV	LCF
United States	LCF +2.0 points	98.0%	100.0%
Switzerland	DFLV +0.8 points	0.8%	0.0%
China	DFLV +0.8 points	0.8%	0.0%
Other countries (3)	DFLV +0.4 points	0.4%	0.0%

Concentration

Weight in the 10 largest Holdings

DFLV25.0%
LCF55.3%

Securities held

DFLV335
LCF45

Asset class

DFLV: Equity
LCF: Equity

Holdings

Only in DFLV311
In both24
Only in LCF21

Only in DFLV

311 securities, 77.2% of DFLV by weight

JPMorgan Chase & Co4.44%
Chevron Corp.2.17%
Procter & Gamble Co/The1.33%
New Linde PLC1.33%
Conocophillips1.12%
Rtx Corp1.10%
Verizon Communications1.09%
Thermo Fisher Scientific.1.05%
Wells Fargo & Co.1.03%
Morgan Stanley0.93%
Eog Resources Inc.0.93%
Pfizer Inc.0.93%
Travelers Companies Inc.0.92%
Hewlett-Packard Enterpris0.90%
General Motors0.89%
Norfolk Southern Corp.0.88%
Newmont Corp0.84%
Csx Corp0.79%
Merck & Company Inc0.79%
Slb Ltd0.78%
Fedex Corp0.77%
Te Connectivity PLC0.75%
Analog Devices Inc.0.75%
AT&T Inc.0.74%
Abbott Laboratories0.73%
Target Corp.0.73%
Allstate Corp.0.73%
Phillips 660.72%
Cigna Group/The0.69%
Alphabet Inc - Class A0.67%
Republic Services Inc0.67%
Nxp Semiconductors NV0.66%
Occidental Petroleum Corp0.66%
Freeport-Mcmoran Inc.0.65%
Metlife Inc.0.64%
Intel Corp0.63%
Emerson Elec Co0.62%
Delta Air Lines Inc.0.62%
Valero Energy Corp0.61%
United Rentals Inc.0.60%
Northrop Grumman Corp.0.58%
Baker Hughes Co0.57%
Crh PLC0.57%
Nucor Corp.0.56%
Oneok Inc0.56%
Mondelez Intl0.56%
Cummins Inc0.54%
Ford Motor Co0.52%
General Dynamics Corp.0.50%
Air Products & Chemicals0.50%

Only in LCF

21 securities, 52.6% of LCF by weight

Microsoft Corp9.76%
Apple Inc8.68%
NVIDIA Corp7.26%
Philip Morris International Inc2.73%
Visa Inc2.55%
Broadcom Inc2.34%
Applied Materials Inc2.01%
Medtronic PLC1.93%
Becton Dickinson & Co1.90%
Airbnb Inc1.89%
Boeing Co/The1.54%
Monster Beverage Corp1.45%
Texas Instruments Inc1.44%
Lpl Financial Holdings Inc1.25%
Hca Healthcare Inc1.21%
Cencora Inc1.13%
Workday Inc1.06%
Blackstone Inc0.77%
Stanley Black & Decker Inc0.74%
Las Vegas Sands Corp0.50%
Netflix Inc0.40%

Weight gaps

All 24 Holdings in both funds, largest gap first.

Holding weights in DFLV and LCF, widest gap first
Holding	More in DFLVMore in LCF	DFLV	LCF
Alphabet IncGOOG	LCF +6.60 points	0.57%	7.17%
Meta Platforms IncMETA	LCF +3.72 points	2.05%	5.77%
Bank of America CorpBAC	LCF +2.05 points	0.71%	2.76%
The Charles Schwab Corp.SCHW	LCF +1.66 points	0.10%	1.76%
Oracle Corp.ORCL	LCF +1.56 points	0.03%	1.59%
Jones Lang Lasalle Inc.JLL	LCF +1.49 points	<0.01%	1.50%
Markel Group IncMKL	LCF +1.46 points	0.12%	1.58%
Exxonmobil Holdings CorpXOM	DFLV +1.35 points	4.20%	2.85%
Amazon.com Inc.AMZN	LCF +0.95 points	4.62%	5.57%
Qxo IncQXO	LCF +0.87 points	<0.01%	0.87%
Goldman Sachs Group Inc.GS	DFLV +0.80 points	1.30%	0.50%
Walt Disney Co/TheDIS	LCF +0.73 points	0.39%	1.12%
Salesforce IncCRM	LCF +0.70 points	0.75%	1.45%
Deere & Co.DE	LCF +0.69 points	0.83%	1.52%
Intl Flavors & FragranceIFF	LCF +0.64 points	0.06%	0.70%
Hubbell IncHUBB	LCF +0.60 points	0.14%	0.74%
SS&C TechnologiesSSNC	LCF +0.49 points	0.13%	0.62%
Stryker CorpSYK	LCF +0.38 points	0.26%	0.64%
Uber Technologies IncUBER	LCF +0.31 points	0.31%	0.62%
Berkshire Hathaway Cl-BBRK.B	DFLV +0.31 points	2.02%	1.71%
UnitedHealth Group Inc.UNH	DFLV +0.21 points	1.59%	1.38%
Bristol-Myers Squibb Co.BMY	LCF +0.12 points	0.76%	0.88%
Comcast Corp New Class ACMCSA	DFLV +0.08 points	0.62%	0.54%
Johnson & JohnsonJNJ	DFLV +0.04 points	1.07%	1.03%

All 343 DFLV holdings⁠All LCF 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.

DFLV vs LCF Cost

Overpaying LCF vs DFLV

$6,731

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

DFLV 0.21%
$4,357
LCF 0.56%
$11,088

Amount$10,000

Years30 years

Cost over time

DFLV 0.21%
LCF 0.56%
Overpaying

Year by year

Year	DFLV	LCF	Overpaying
10	$383	$1,006	$623
20	$1,491	$3,855	$2,364
30	$4,357	$11,088	$6,731

Expense ratio

0.21%DFLV, cheaper
0.56%LCF

DFLV0.21%LCF0.56%

0.12%1.25%

Middle half of US Active Value funds
Median 0.55%

DFLV 6th cheapest of 64 funds

LCF 38th cheapest of 64 funds

DFLV vs LCF Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DFLV 1.35%, better; LCF 0.51%
Payout (12M): DFLV $0.57; LCF $0.23
Last payment: DFLV $0.16; LCF $0.23
Ex-dividend: DFLV Sep 22, 2026; LCF Dec 30, 2025
Paid on: DFLV Sep 24, 2026; LCF Dec 31, 2025
Frequency: DFLV Quarterly; LCF Annual

Distribution history

Per share, 2022 to 2026, same scale for both

DFLVQuarterly · 16 paymentsAll DFLV payments⁠

LCFAnnual · 4 paymentsAll LCF payments⁠

DFLV vs LCF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFLV 12.3%, betterLCF 12.5%
Return per unit of riskSharpe ratio, 3 years: DFLV 1.38, betterLCF 1.11
Worst fallMax drawdown, 5 years: DFLV −16.8%since Dec 2022LCF −18.3%since Jul 2022
Market sensitivityBeta, 5 years: DFLV 0.80LCF 0.95; Market = 1

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