DSTX vs EWJV

DSTXCDistillate International Fundamental Stability & Value ETF

EWJVBiShares MSCI Japan Value ETF

In short

DSTX Value with a cash-flow lens: DSTX screens large non-US companies for stable cash flow and low debt, then owns the roughly 100 cheapest on free cash flow yield. Weighting follows cash generated, not market cap.

EWJV Most international value funds spread the bet across the whole developed world. EWJV skips the buffet and orders one dish: cheap-looking large- and mid-cap Japanese stocks, roughly 110 of them, for 0.15% a year.

Stated mandate

DSTX The Fund seeks to track the performance of the Distillate International Fundamental Stability & Value Index.

EWJV The fund seeks to track large- and mid-capitalization Japanese equities with value characteristics and relatively lower valuations.

Why people hold it

• DSTX Value here means free cash flow yield measured against enterprise value, not price-to-book, with profitability, debt and cash-flow-stability screens applied first.distillatecapital.comdistillatecapital.com 2
• Positions are weighted by free cash flow generation and rebalanced quarterly, so a holding's size tracks the cash it throws off rather than its market price.distillatecapital.com
• Concentrated on purpose: about 100 large and mid-cap names from developed and emerging markets, with distributions paid quarterly.distillatecapital.com

• EWJV At 0.15% a year, it is the cheapest fund in its international-value peer group, well under the group's typical fee and below broad rivals like DFIV and EFV.
• A clean single-country expression: the MSCI Japan Value Index screens large- and mid-cap Japanese equities for value characteristics and lower valuations, so the country call and the style call arrive together.ishares.com
• Plain index plumbing from iShares, running since 2019, and it has stayed close to the benchmark it advertises.
• One of the stronger builds in its cohort on cost and mandate discipline, sitting in the upper half of the international-value field.

Worth knowing

• DSTX At 0.55%, it carries a higher fee than the typical international value fund; FIVA (0.18%) and EWJV (0.15%) run the same factor for a fraction of that.
• One of the lighter-traded funds in its peer group, so the bid-ask spread matters more here than with the category's index heavyweights.
• A manager's proprietary cash-flow model drives selection, and roughly 100 stocks can leave the portfolio looking little like a broad EAFE benchmark.distillatecapital.com

• EWJV One country, one style, roughly 110 names. Nothing in the portfolio cushions a stretch when Japan or value is out of fashion.
• Moderately traded, not a volume machine. Limit orders earn their keep on larger tickets.
• Distributions arrive once or twice a year rather than quarterly, so income lands in lumps.

Full DSTX profile⁠

Full EWJV profile⁠