DFLV vs TEQI: Grades, Fees and Holdings Compared

Dimensional US Large Cap Value ETF

DFLVANYSE Arca

T. Rowe Price Equity Income ETF

TEQIBNYSE Arca

Overlap

31.6%by weight

Expense ratio

DFLV −0.33pt a year

DFLV0.21%TEQI0.54%

Avg volume · 30D

DFLV 24.0×the volume

DFLV658KTEQI27.4K

3Y return · a year

DFLV +3.0pt

DFLV+22.7%TEQI+19.7%

DFLV vs TEQI Performance

Oct 31, 2025 – Oct 30, 2026

+29.3%DFLV+23.1%TEQI

Expense ratio: DFLV 0.21%, better; TEQI 0.54%
Fund size: DFLV $7.39B; TEQI $469M
1Y total return: DFLV +29.3%, better; TEQI +23.1%
Yield (12M): DFLV 1.35%; TEQI 1.45%, better
Holdings: DFLV 336; TEQI 109
Avg volume (30D): DFLV 658K sh, better; TEQI 27.4K sh
NAV per share: DFLV $41.80; TEQI $52.74
52W range

ETF.net Grade

Pillar letters and Scores for DFLV, TEQI, with each pillar’s weight
Pillar	DFLV	TEQI
Cost30% weight	A92Higher	C48
Mission25% weight	Not scored	A74
Risk15% weight	A76Higher	A70
Tradability15% weight	A83Higher	B67
Holdings10% weight	A78Higher	B64
Durability5% weight	A83Higher	A77

Rank among US Active Value funds

How we build Categories ›

Same Category. DFLV and TEQI 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 TEQI 22nd 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 20BPJFVPGIM Jennison Focused Value ETFScore 62
Rank 22BTEQIT. Rowe Price Equity Income ETFScore 60
Rank 23BASLVAllspring Special Large Value ETFScore 59

Our read on each fund

ETF.net Research

DFLVADimensional US Large Cap Value ETF

TEQIBT. Rowe Price Equity Income 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.

TEQI A stock-picker's take on value: T. Rowe Price's equity income strategy in ETF form, hunting out-of-favor dividend payers. Roughly 120 names, quarterly payouts, measured against the Russell 1000 Value rather than cloning it.

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.

TEQI The fund seeks a high level of dividend income and long-term capital growth.

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.

TEQI Genuinely active. The stated job is a high level of dividend income plus long-term capital growth, run as a manageable book of roughly 120 stocks.
0.54% a year sits mid-pack for active value, and undercuts several rivals judged against the same Russell 1000 Value benchmark.
Pays quarterly, has been trading since 2020, and lands in the stronger half of the active large-cap value group on our review.
Stays on its stated lane: a value portfolio that behaves like one, rather than a growth book wearing a value label.

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.

TEQI One of the quieter tickers in its category. Thin volume means the price you pay can drift from the value of what's inside.
You're paying for human judgment: systematic value funds like AVLV and WTV charge a fraction of 0.54%.
The income mandate is a goal, not a fixed rate. There's no declared target yield, and distributions can include return of capital.

Full DFLV profile⁠

Full TEQI profile⁠

DFLV vs TEQI Holdings

How DFLV and TEQI differ

Overlap by weight

31.6%

Shared holdings make up 58.2% of TEQI and 46.2% of DFLV.

Level by level

Holdings61 in both31.6%
Sector11 Sectors78.5%
Countryby domicile94.6%
Asset classEquity100%

Sector

Sector weights in DFLV and TEQI, widest gap first
Sector	More in DFLVMore in TEQI	DFLV	TEQI
Technology	TEQI +11.4 points	9.1%	20.5%
Energy	DFLV +6.3 points	14.9%	8.6%
Materials	DFLV +5.1 points	6.8%	1.7%
Utilities	TEQI +4.8 points	0.0%	4.8%
Communication	DFLV +4.2 points	7.0%	2.8%
Industrials	DFLV +3.3 points	12.9%	9.6%
Financials	DFLV +2.7 points	21.7%	19.0%
Real Estate	TEQI +2.6 points	0.4%	3.0%
Consumer Staples	TEQI +1.8 points	4.8%	6.6%
Consumer Discretionary	TEQI +0.9 points	8.4%	9.3%
Health Care	DFLV +0.1 points	14.0%	13.9%

Country, concentration and asset class

Country by domicile

Country weights in DFLV and TEQI, widest gap first
Country	More in DFLVMore in TEQI	DFLV	TEQI
United States	DFLV +4.9 points	98.0%	93.1%
France	TEQI +1.8 points	0.0%	1.8%
United Kingdom	TEQI +1.4 points	0.2%	1.6%
Canada	TEQI +1.2 points	0.0%	1.2%
Switzerland	TEQI +0.6 points	0.8%	1.4%
Other countries (4)	DFLV +0.1 points	1.0%	0.9%

Concentration

Weight in the 10 largest Holdings

DFLV25.0%
TEQI31.2%

Securities held

DFLV335
TEQI109

Asset class

DFLV: Equity
TEQI: Equity

Holdings

Only in DFLV274
In both61
Only in TEQI48

Only in DFLV

274 securities, 53.7% of DFLV by weight

Goldman Sachs Group Inc.1.34%
New Linde PLC1.29%
Rtx Corp1.09%
Verizon Communications1.06%
Hewlett-Packard Enterpris0.96%
Travelers Companies Inc.0.92%
Pfizer Inc.0.91%
Newmont Corp0.87%
General Motors0.87%
Deere & Co.0.81%
Analog Devices Inc.0.77%
Fedex Corp0.75%
AT&T Inc.0.72%
Abbott Laboratories0.72%
Target Corp.0.71%
Freeport-Mcmoran Inc.0.69%
Alphabet Inc - Class A0.68%
Nxp Semiconductors NV0.67%
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%
Crh PLC0.56%
Cummins Inc0.56%
Baker Hughes Co0.56%
Oneok Inc0.55%
Mondelez Intl0.54%
Ford Motor Co0.52%
Bank of New York Mellon0.50%
General Dynamics Corp.0.49%
Air Products & Chemicals0.49%
International Business Ma0.47%
Diamondback Energy Inc0.47%
Ametek Inc0.47%
Devon Energy Corp.0.47%
Kroger Co.0.45%
Hartford Insurance Group0.42%
PayPal Holdings Inc0.41%
Agilent Technologies Inc0.40%
Paccar Inc.0.40%
Vulcan Materials Co.0.40%
Cbre Group Inc0.38%
Steel Dynamics Inc0.38%
Wabtec Corp0.38%

Only in TEQI

48 securities, 41.8% of TEQI by weight

Microsoft6.97%
Apple4.95%
Southern Company1.75%
Elevance Health1.56%
Boeing1.56%
Colgate-Palmolive1.55%
Equitable Holdings1.54%
Stanley Black & Decker1.44%
Becton, Dickinson & Company1.36%
Philip Morris International1.24%
Vivmark Residential0.99%
Unilever0.94%
News Corp0.78%
Alliant Energy0.77%
Sempra0.75%
Rayonier0.75%
Home Depot0.73%
Las Vegas Sands0.69%
Ameren0.68%
Agco0.66%
Rexford Industrial Realty0.63%
McDonald's0.60%
Applied Materials0.58%
Booz Allen Hamilton0.57%
Kimberly-Clark0.55%
Union Pacific0.55%
NextEra Energy0.54%
West Fraser Timber0.53%
Standardaero0.48%
Wal-Mart0.47%
Public Storage0.42%
Texas Instruments0.41%
TC Energy0.40%
Novo Nordisk0.39%
Avery Dennison0.34%
Ge0.31%
South Bow0.29%
Ralliant0.25%
3M0.25%
Fiserv0.25%
Skyworks Solutions0.25%
XCEL Energy0.23%
Revvity0.21%
Sun Communities0.18%
Rockwell Automation0.17%
Weyerhaeuser0.14%
Mattel0.09%
Middleby0.09%

Weight gaps

All 61 Holdings in both funds, largest gap first.

Holding weights in DFLV and TEQI, widest gap first
Holding	More in DFLVMore in TEQI	DFLV	TEQI
JPMorgan Chase & CoJPM	DFLV +2.70 points	4.50%	1.80%
Exxonmobil Holdings CorpXOM	DFLV +2.67 points	4.09%	1.42%
Qualcomm Inc.QCOM	TEQI +1.77 points	0.04%	1.81%
Metlife Inc.MET	TEQI +1.72 points	0.65%	2.37%
The Charles Schwab Corp.SCHW	TEQI +1.59 points	0.10%	1.69%
Berkshire Hathaway Cl-BBRK.B	DFLV +1.58 points	2.00%	0.42%
Amazon.com Inc.AMZN	TEQI +1.53 points	4.66%	6.19%
Meta Platforms IncMETA	DFLV +1.42 points	2.07%	0.65%
Citigroup Inc.C	TEQI +1.25 points	0.42%	1.67%
Loews Corp.L	TEQI +1.11 points	0.09%	1.20%
Cf Industries HoldingsCF	TEQI +1.12 points	0.11%	1.23%
Intel CorpINTC	TEQI +1.10 points	0.88%	1.98%
Fortive CorporationFTV	TEQI +1.10 points	0.11%	1.21%
Chevron Corp.CVX	DFLV +1.04 points	2.12%	1.08%
Viatris IncVTRS	TEQI +1.01 points	0.08%	1.09%
U.s. BancorpUSB	TEQI +1.01 points	0.41%	1.42%
Chubb LimitedCB	TEQI +0.98 points	0.49%	1.47%
International PaperIP	TEQI +0.93 points	0.03%	0.96%
Huntington BancsharesHBAN	TEQI +0.89 points	0.13%	1.02%
Cvs Health CorpCVS	TEQI +0.84 points	0.42%	1.26%
Zimmer Biomet HoldingsZBH	TEQI +0.81 points	0.04%	0.85%
Cisco Systems Inc.CSCO	TEQI +0.78 points	0.21%	0.99%
Morgan StanleyMS	DFLV +0.74 points	0.95%	0.21%
Norfolk Southern Corp.NSC	DFLV +0.73 points	0.87%	0.14%
Southwest AirlinesLUV	TEQI +0.73 points	0.19%	0.92%
UnitedHealth Group Inc.UNH	DFLV +0.66 points	1.60%	0.94%
Phillips 66PSX	DFLV +0.64 points	0.70%	0.06%
L3HARRIS Technologies IncLHX	TEQI +0.59 points	0.25%	0.84%
ConocophillipsCOP	TEQI +0.57 points	1.09%	1.66%
Merck & Company IncMRK	TEQI +0.57 points	0.77%	1.34%
Fifth Third BancorpFITB	TEQI +0.53 points	0.24%	0.77%
Eog Resources Inc.EOG	DFLV +0.51 points	0.90%	0.39%
Waters Corp.WAT	TEQI +0.46 points	0.16%	0.61%
American Int'l GroupAIG	TEQI +0.45 points	0.37%	0.82%
Thermo Fisher Scientific.TMO	DFLV +0.43 points	1.07%	0.64%
Walt Disney Co/TheDIS	TEQI +0.40 points	0.39%	0.79%
Csx CorpCSX	TEQI +0.37 points	0.79%	1.16%
Expand Energy CorpEXE	TEQI +0.34 points	0.17%	0.51%
Ups Inc. Class BUPS	TEQI +0.31 points	0.38%	0.69%
Johnson & JohnsonJNJ	DFLV +0.29 points	1.07%	0.78%
T-Mobile Us IncTMUS	TEQI +0.29 points	0.35%	0.64%
Medtronic PLCMDT	TEQI +0.28 points	0.48%	0.76%
Te Connectivity PLCTEL	DFLV +0.26 points	0.78%	0.52%
Allstate Corp.ALL	DFLV +0.24 points	0.71%	0.47%
Wells Fargo & Co.WFC	DFLV +0.21 points	1.04%	0.83%
Slb LtdSLB	DFLV +0.21 points	0.78%	0.57%
Apollo Global ManagementAPO	TEQI +0.19 points	<0.01%	0.20%
Kenvue IncKVUE	TEQI +0.15 points	0.36%	0.51%
Bank of America CorpBAC	TEQI +0.15 points	0.72%	0.87%
Biogen IncBIIB	TEQI +0.15 points	0.10%	0.25%
Kinder Morgan Inc.KMI	DFLV +0.14 points	0.40%	0.26%
Williams Cos. Inc.WMB	DFLV +0.13 points	0.33%	0.20%
Tyson Foods Inc. Class ATSN	TEQI +0.13 points	0.06%	0.19%
State Street Corp.STT	TEQI +0.11 points	0.35%	0.46%
Salesforce IncCRM	TEQI +0.07 points	0.75%	0.82%
Bristol-Myers Squibb Co.BMY	TEQI +0.07 points	0.75%	0.82%
Cigna Group/TheCI	TEQI +0.05 points	0.69%	0.74%
Global Payments IncGPN	TEQI +0.03 points	0.05%	0.08%
Eqt CorpEQT	DFLV +0.01 points	0.21%	0.20%
Capital One FinancialCOF	DFLV +0.01 points	0.40%	0.39%
Procter & Gamble Co/ThePG	TEQI +0.01 points	1.31%	1.32%

All 343 DFLV holdings⁠All 116 TEQI 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 TEQI Cost

Overpaying TEQI vs DFLV

$6,363

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

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

Amount$10,000

Years30 years

Cost over time

DFLV 0.21%
TEQI 0.54%
Overpaying

Year by year

Year	DFLV	TEQI	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%TEQI

DFLV0.21%TEQI0.54%

0.12%1.25%

Middle half of US Active Value funds
Median 0.54%

DFLV 6th cheapest of 64 funds

TEQI 32nd cheapest of 64 funds

DFLV vs TEQI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFLV 1.35%; TEQI 1.45%, better
Payout (12M): DFLV $0.57; TEQI $0.76
Last payment: DFLV $0.16; TEQI $0.19
Ex-dividend: DFLV Sep 22, 2026; TEQI Sep 28, 2026
Paid on: DFLV Sep 24, 2026; TEQI Sep 30, 2026
Frequency: DFLV Quarterly; TEQI Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

DFLVQuarterly · 16 paymentsAll DFLV payments⁠

TEQIQuarterly · 25 paymentsAll TEQI payments⁠

DFLV vs TEQI 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%TEQI 11.7%, better
Return per unit of riskSharpe ratio, 3 years: DFLV 1.38, betterTEQI 1.23
Worst fallMax drawdown, 5 years: DFLV −16.8%since Dec 2022TEQI −17.8%
Market sensitivityBeta, 5 years: DFLV 0.80TEQI 0.78; Market = 1

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