DFLV vs TAX: Grades, Fees and Holdings Compared

Dimensional US Large Cap Value ETF

DFLVANYSE Arca

Cambria Tax Aware ETF

TAXCNasdaq

Overlap

9.3%by weight

Expense ratio

DFLV −0.33pt a year

DFLV0.21%TAX0.54%

Avg volume · 30D

DFLV 888.0×the volume

DFLV658KTAX741

DFLV vs TAX Performance

Oct 31, 2025 – Oct 30, 2026

+29.3%DFLV+8.5%TAX

Expense ratio: DFLV 0.21%, better; TAX 0.54%
Fund size: DFLV $7.39B; TAX $25M
1Y total return: DFLV +29.3%, better; TAX +8.5%
Yield (12M): DFLV 1.35%, better; TAX 0.32%
Holdings: DFLV 336; TAX 99
Avg volume (30D): DFLV 658K sh, better; TAX 741 sh
NAV per share: DFLV $41.80; TAX $30.57
52W range

ETF.net Grade

Pillar letters and Scores for DFLV, TAX, with each pillar’s weight
Pillar	DFLV	TAX
Cost30% weight	A92Higher	C48
Mission25% weight	Not scored	Not scored
Risk15% weight	A76Higher	F15
Tradability15% weight	A83Higher	D37
Holdings10% weight	A78	A83Higher
Durability5% weight	A83Higher	D26

Rank among US Active Value funds

How we build Categories ›

Same Category. DFLV and TAX 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 TAX 41st of 64 funds in the US Active Value Category.

Rank 1AAVLVAvantis U.S. Large Cap Value ETFScore 86
Rank 1AWTVWisdomTree U.S. Value FundScore 86
Rank 3ASEIVSEI QiM U.S. Large Cap Value Active ETFScore 85
Rank 4ADFLVDimensional US Large Cap Value ETFScore 84
Rank 5AAVMVAvantis U.S. Mid Cap Value ETFScore 79
Rank 41CDUSADavis Select U.S. Equity ETFScore 42
Rank 41CTAXCambria Tax Aware ETFScore 42
Rank 43DCVSMCresAlta Small and Mid-Cap ETFScore 40

Our read on each fund

ETF.net Research

DFLVADimensional US Large Cap Value ETF

TAXCCambria Tax Aware 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.

TAX No data

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.

TAX No data

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.

TAX No data

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.

TAX No data

Full DFLV profile⁠

Full TAX profile⁠

DFLV vs TAX Holdings

How DFLV and TAX differ

Overlap by weight

9.3%

Shared holdings make up 40.4% of TAX and 11.5% of DFLV.

Level by level

Holdings39 in both9.3%
Sector11 Sectors66.0%
Countryby domicile97.3%
Asset classEquity100%

Sector

Sector weights in DFLV and TAX, widest gap first
Sector	More in DFLVMore in TAX	DFLV	TAX
Energy	DFLV +14.2 points	14.9%	0.7%
Financials	DFLV +12.7 points	21.7%	9.0%
Technology	TAX +11.7 points	9.1%	20.8%
Health Care	TAX +9.8 points	14.0%	23.8%
Industrials	TAX +5.7 points	12.9%	18.6%
Materials	DFLV +5.1 points	6.8%	1.7%
Consumer Discretionary	TAX +3.3 points	8.4%	11.7%
Communication	DFLV +2.1 points	7.0%	4.9%
Real Estate	TAX +1.5 points	0.4%	1.9%
Consumer Staples	TAX +1.2 points	4.8%	6.0%
Utilities	TAX +0.9 points	0.0%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in DFLV and TAX, widest gap first
Country	More in DFLVMore in TAX	DFLV	TAX
United Kingdom	TAX +1.4 points	0.2%	1.6%
Mexico	TAX +1.3 points	0.1%	1.4%
United States	DFLV +1.0 points	98.0%	97.0%
Switzerland	DFLV +0.8 points	0.8%	0.0%
China	DFLV +0.8 points	0.8%	0.0%
Ireland	DFLV +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

DFLV25.0%
TAX17.4%

Securities held

DFLV335
TAX98

Asset class

DFLV: Equity
TAX: Equity

Holdings

Only in DFLV296
In both39
Only in TAX59

Only in DFLV

296 securities, 88.5% of DFLV by weight

Amazon.com Inc.4.66%
JPMorgan Chase & Co4.50%
Exxonmobil Holdings Corp4.09%
Chevron Corp.2.12%
UnitedHealth Group Inc.1.60%
Goldman Sachs Group Inc.1.34%
Procter & Gamble Co/The1.31%
New Linde PLC1.29%
Rtx Corp1.09%
Conocophillips1.09%
Johnson & Johnson1.07%
Verizon Communications1.06%
Wells Fargo & Co.1.04%
Hewlett-Packard Enterpris0.96%
Morgan Stanley0.95%
Travelers Companies Inc.0.92%
Pfizer Inc.0.91%
Eog Resources Inc.0.90%
Intel Corp0.88%
Norfolk Southern Corp.0.87%
Newmont Corp0.87%
Deere & Co.0.81%
Csx Corp0.79%
Te Connectivity PLC0.78%
Slb Ltd0.78%
Analog Devices Inc.0.77%
Merck & Company Inc0.77%
Fedex Corp0.75%
Salesforce Inc0.75%
Bristol-Myers Squibb Co.0.75%
AT&T Inc.0.72%
Bank of America Corp0.72%
Abbott Laboratories0.72%
Target Corp.0.71%
Allstate Corp.0.71%
Phillips 660.70%
Freeport-Mcmoran Inc.0.69%
Cigna Group/The0.69%
Nxp Semiconductors NV0.67%
Metlife Inc.0.65%
Occidental Petroleum Corp0.65%
Republic Services Inc0.64%
Emerson Elec Co0.63%
Delta Air Lines Inc.0.62%
United Rentals Inc.0.61%
Comcast Corp New Class A0.59%
Valero Energy Corp0.59%
Northrop Grumman Corp.0.58%
Alphabet Inc0.57%
Nucor Corp.0.56%

Only in TAX

59 securities, 59.6% of TAX by weight

First American Government Obligations Fund 12/01/20312.34%
Advanced Micro Devices Inc1.94%
Revolution Medicines Inc1.84%
Natera Inc1.71%
JFrog Ltd1.60%
Viasat Inc1.58%
Exelixis Inc1.55%
Docusign Inc1.48%
Maplebear Inc1.44%
PACS Group Inc1.35%
Eli Lilly & Co1.32%
Jazz Pharmaceuticals PLC1.26%
Urban Outfitters Inc1.24%
Affiliated Managers Group Inc1.17%
GE Vernova Inc1.16%
McKesson Corp1.15%
Kirby Corp1.13%
Henry Schein Inc1.08%
Jabil Inc1.07%
Medpace Holdings Inc1.05%
Molina Healthcare Inc1.05%
Wayfair Inc1.04%
Gartner Inc1.04%
Sanmina Corp1.02%
FTI Consulting Inc1.01%
Comfort Systems USA Inc1.00%
Expedia Group Inc0.99%
News Corp0.99%
Gates Industrial Corp Ltd0.98%
Ulta Beauty Inc0.96%
Zurn Elkay Water Solutions Corp0.92%
Axos Financial Inc0.92%
Laureate Education Inc0.92%
Valmont Industries Inc0.90%
Cencora Inc0.89%
EMCOR Group Inc0.89%
Lithia Motors Inc0.88%
Constellation Energy Corp0.87%
Sterling Infrastructure Inc0.87%
MGM Resorts International0.86%
Globus Medical Inc0.82%
AutoNation Inc0.82%
EnerSys0.82%
Adobe Inc0.82%
Grand Canyon Education Inc0.82%
Ollie's Bargain Outlet Holdings Inc0.81%
Mattel Inc0.71%
Boeing Co/The0.69%
EPAM Systems Inc0.65%
Alaska Air Group Inc0.64%

Weight gaps

All 39 Holdings in both funds, largest gap first.

Holding weights in DFLV and TAX, widest gap first
Holding	More in DFLVMore in TAX	DFLV	TAX
Charles River LaboratorieCRL	TAX +1.60 points	<0.01%	1.60%
Roivant Sciences LtdROIV	TAX +1.56 points	0.03%	1.59%
Twilio IncTWLO	TAX +1.48 points	0.11%	1.59%
Meta Platforms IncMETA	DFLV +1.27 points	2.07%	0.80%
Tenet Healthcare Corp.THC	TAX +1.21 points	0.17%	1.38%
Flex LtdFLEX	TAX +1.18 points	0.07%	1.25%
Charter CommunicationsCHTR	TAX +1.14 points	<0.01%	1.14%
Wesco International IncWCC	TAX +1.12 points	<0.01%	1.13%
F5 IncFFIV	TAX +1.05 points	0.10%	1.15%
United Therapeutics CorpUTHR	TAX +1.03 points	0.19%	1.22%
Itt IncITT	TAX +1.03 points	<0.01%	1.03%
First Citizens BancsharesFCNCA	TAX +1.00 points	0.13%	1.13%
Dollar Tree IncDLTR	TAX +0.99 points	0.09%	1.08%
Us Foods Holding CorpUSFD	TAX +0.97 points	0.20%	1.17%
Jones Lang Lasalle Inc.JLL	TAX +0.95 points	<0.01%	0.96%
Loews Corp.L	TAX +0.93 points	0.09%	1.02%
Regeneron PharmaceuticalsREGN	TAX +0.93 points	0.26%	1.19%
Berkshire Hathaway Cl-BBRK.B	DFLV +0.91 points	2.00%	1.09%
Zoom Communications IncZM	TAX +0.92 points	0.08%	1.00%
Teledyne Technologies IncTDY	TAX +0.90 points	0.11%	1.01%
Performance Food Group CoPFGC	TAX +0.90 points	0.06%	0.96%
Textron IncTXT	TAX +0.85 points	0.08%	0.93%
Gxo Logistics IncGXO	TAX +0.83 points	<0.01%	0.83%
Deckers Outdoor CorpDECK	TAX +0.79 points	<0.01%	0.79%
Markel Group IncMKL	TAX +0.78 points	0.12%	0.90%
Wabtec CorpWAB	TAX +0.77 points	0.38%	1.15%
Amkor Technology IncAMKR	TAX +0.73 points	0.02%	0.75%
Pulte Group Inc.PHM	TAX +0.70 points	0.23%	0.93%
Nvr IncNVR	TAX +0.69 points	0.08%	0.77%
PayPal Holdings IncPYPL	TAX +0.62 points	0.41%	1.03%
Alcoa CorpAA	TAX +0.61 points	<0.01%	0.61%
First Solar Inc.FSLR	TAX +0.61 points	0.14%	0.75%
Walt Disney Co/TheDIS	TAX +0.56 points	0.39%	0.95%
Ametek IncAME	TAX +0.55 points	0.47%	1.02%
Carnival Corp LtdCCL	TAX +0.55 points	0.34%	0.89%
Cbre Group IncCBRE	TAX +0.34 points	0.38%	0.72%
Alphabet Inc - Class AGOOGL	TAX +0.11 points	0.68%	0.79%
General MotorsGM	TAX +0.09 points	0.87%	0.96%
Thermo Fisher Scientific.TMO	TAX +0.05 points	1.07%	1.12%

All 343 DFLV holdings⁠All 98 TAX 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 TAX Cost

Overpaying TAX vs DFLV

$6,363

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

DFLV 0.21%
$4,357
TAX 0.54%
$10,720

Amount$10,000

Years30 years

Cost over time

DFLV 0.21%
TAX 0.54%
Overpaying

Year by year

Year	DFLV	TAX	Overpaying
10	$383	$971	$588
20	$1,491	$3,724	$2,233
30	$4,357	$10,720	$6,363

Expense ratio

0.21%DFLV, cheaper
0.54%TAX

DFLV0.21%TAX0.54%

0.12%1.25%

Middle half of US Active Value funds
Median 0.54%

DFLV 6th cheapest of 64 funds

TAX 32nd cheapest of 64 funds

DFLV vs TAX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFLV 1.35%, better; TAX 0.32%
Payout (12M): DFLV $0.57; TAX $0.10
Last payment: DFLV $0.16; TAX $0.10
Ex-dividend: DFLV Sep 22, 2026; TAX Dec 23, 2025
Paid on: DFLV Sep 24, 2026; TAX Dec 24, 2025
Frequency: DFLV Quarterly; TAX Annual

Distribution history

Per share, 2022 to 2026, same scale for both

DFLVQuarterly · 16 paymentsAll DFLV payments⁠

TAXAnnual · 2 paymentsAll TAX payments⁠

DFLV vs TAX 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%TAX 12.7%since Jan 2025
Return per unit of riskSharpe ratio, 3 years: DFLV 1.38TAX 0.73since Jan 2025
Worst fallMax drawdown, 5 years: DFLV −16.8%since Dec 2022TAX −18.9%since Dec 2024
Market sensitivityBeta, 5 years: DFLV 0.80TAX 0.94; Market = 1

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