Which is cheaper, DFAL or SPHQ?

DFAL is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do DFAL and SPHQ overlap with the S&P 500?

By their latest filed holdings, 54% of DFAL and 100% of SPHQ by weight is stocks the S&P 500 already holds.

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DFAL vs SPHQ: Differences, Returns & Fees

DFAL and SPHQ hold 11% of their weight in the same names. Net assets: $1.5bn on Jul 31, 2026 for Dimensional US Large Cap Core Equity Market ETF, and $19.1bn on Oct 9, 2026 for Invesco S&P 500 Quality ETF.

DFAL costs 0.03 points a year less; SPHQ is 12.6 times larger.

	DFAL	SPHQ
Expense ratio	0.12%	0.15%
Net assets, as of Jul 31, 2026	$1.5bn	$19.4bn
Total return, 1 year	not published	+18.0%
What it tracks	not published	S&P 500 Quality Index
Holdings in common	11%
Holdings dated	Jul 31, 2026	Oct 10, 2026
Top ten holdings, share of the fund	56.6%	43.7%
Below its high		4.6%, high on Jun 30, 2026

Holdings in common uses holdings dated Jul 31, 2026 and Oct 9, 2026.

+6.3%

DFAL total return, since launch, Jun 23, 2026

+18.0%

SPHQ total return, 1 year

0.12%

DFAL expense ratio

0.15%

SPHQ expense ratio

What they hold in common

By the books each fund has filed, DFAL and SPHQ hold 11% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jul 31, 2026 and Oct 9, 2026.

50%

half

11% in common

Positions both hold, largest shared weight first

Holding DFAL SPHQ

APPLE INC. 3.83% 5.65%

VISA INC. 0.52% 5.84%

MASTERCARD INCORPORATED 0.43% 5.90%

CISCO SYSTEMS, INC. 0.34% 3.81%

COSTCO WHOLESALE CORPORATION 0.33% 3.96%

APPLIED MATERIALS, INC. 0.32% 2.62%

THE PROCTER & GAMBLE COMPANY 0.31% 2.96%

GENERAL ELECTRIC COMPANY 0.31% 3.37%

LAM RESEARCH CORPORATION 0.28% 4.30%

KLA CORPORATION 0.23% 2.52%

TEXAS INSTRUMENTS INCORPORATED 0.22% 2.27%

NETFLIX, INC. 0.21% 3.62%

Only in DFAL

iShares Russell Top 200 Growth Index ETF 13.12%

Ishares Russell Top 200 Value Index Fund 8.84%

DFA Dimensional US Marketwide Value ETF 7.98%

Dimensional U S Core Equity 2 ETF 6.89%

iShares Russell Mid-Cap Value ETF 4.68%

NVIDIA CORPORATION 3.93%

MICROSOFT CORPORATION 2.82%

AMAZON.COM, INC. 2.38%

Only in SPHQ

PTC Inc 0.19%

Nordson Corp 0.16%

APA Corp 0.16%

Jacobs Solutions Inc 0.15%

NVR Inc 0.14%

Deckers Outdoor Corp 0.14%

Solventum Corp 0.13%

GoDaddy Inc 0.12%

Check overlap with more funds →

On the same fields

DFAL

Dimensional US Large Cap Core Equity Market ETF

SPHQ

Invesco S&P 500 Quality ETF

Where it sits Stock ETF Stock ETF

Issuer Dimensional Invesco

What it is Equity fund Tracks the S&P 500 Quality

Total return, 1 year +6.3% (since launch, Jun 23, 2026) +18.0%

S&P 500 over the same days +6.4% (since launch, Jun 23, 2026) +17.3%

Gap to the S&P 500 −0.1 pts (since launch, Jun 23, 2026) +0.8 pts

Expense ratio 0.12% 0.15%

Already in the S&P 500 53.9% 100.0%

Holdings 545 102

Net assets, DFAL as of Jul 31, 2026 and SPHQ as of Oct 9, 2026 $1.5bn $19.1bn

DFAL and SPHQ on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

DFAL in plain words

The prospectus expense ratio is 0.12% a year. By its holdings filed for Jul 31, 2026, 54% of the fund by weight is stocks the S&P 500 also holds, across 545 positions, with the top ten at 56.6%.

SPHQ in plain words

SPHQ tracks the S&P 500 Quality. Over the year to Oct 9, 2026 it returned +18.0% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 10, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 102 positions, with the top ten at 43.7%. It sat 4.6% below its high of Jun 30, 2026 on Oct 9, 2026.

Questions people ask

Which is cheaper, DFAL or SPHQ?: DFAL is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do DFAL and SPHQ overlap with the S&P 500?: By their latest filed holdings, 54% of DFAL and 100% of SPHQ by weight is stocks the S&P 500 already holds.

Other comparisons

DFAL vs ESGU DFAL vs MTUM DFAL vs IWV DFAL vs DGRW QQQE vs SPHQ EUSA vs SPHQ LCAP vs SPHQ LCTU vs SPHQ

DFAL on its own →SPHQ on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

DFAL filings on SEC EDGAR ↗DFAL prospectus with the expense ratio (SEC) ↗Dimensional website ↗SPHQ filings on SEC EDGAR ↗SPHQ prospectus with the expense ratio (SEC) ↗Invesco page for SPHQ ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, DFAL against SPHQ, data as of Oct 9, 2026. https://etfiq.com/compare/any/dfal-vs-sphq

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.