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DFAX vs IQDF: Differences, Returns & Fees

DFAX and IQDF hold 16% of their weight in the same names, and IQDF returned +24.5% over the year. Net assets on Jul 31, 2026: $12.0bn for Dimensional World ex U.S. Core Equity 2 ETF and $1.2bn for Northern Trust International Quality Dividend ETF.

DFAX costs 0.19 points a year less; their one-year returns differ by 3.6 points; DFAX is 10.4 times larger.

DFAXIQDF
Expense ratio0.28%0.47%
Net assets, as of Jul 31, 2026$12.0bn$1.2bn
Total return, 1 year+20.9%+24.5%
What it tracksNo index, actively managednot read by ETFIQ
Holdings in common16%
Top ten holdings, share of the fund8.2%19.8%
Below its high3.4%, high on Sep 4, 20264.3%, high on Sep 8, 2026

Holdings in common uses holdings dated Jul 31, 2026.

+20.9%
DFAX total return, 1 year
+24.5%
IQDF total return, 1 year
0.28%
DFAX expense ratio
0.47%
IQDF expense ratio

What they hold in common

By the books each fund has filed, DFAX and IQDF hold 16% 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.

half

16% in common

Positions both hold, largest shared weight first
Holding DFAX IQDF
Taiwan Semiconductor Manufacturing Company Limited 1.86% 4.55%
Samsung Electronics Co., Ltd. 1.34% 1.92%
SK hynix Inc. 0.81% 1.34%
TOTALENERGIES SE 0.54% 0.98%
Tencent Holdings Limited 0.49% 0.56%
Nestle S.A. 0.40% 1.02%
Roche Holding AG 0.39% 1.27%
ROYAL BANK OF CANADA 0.36% 0.63%
Fujikura Ltd. 0.31% 0.45%
Mitsubishi UFJ Financial Group, Inc. 0.27% 0.70%
ADVANTEST CORPORATION 0.26% 2.13%
BHP GROUP LIMITED 0.25% 1.44%
Only in DFAX
Taiwan Semiconductor Manufacturing Company Limited 0.99%
Novartis AG 0.67%
ASML Holding N.V. 0.62%
SHELL PLC 0.48%
TOYOTA MOTOR CORPORATION 0.38%
Allianz SE 0.30%
Samsung Electronics Co., Ltd. 0.29%
HSBC HOLDINGS PLC 0.28%
Only in IQDF
Talabat Holding plc 0.88%
ORIX Corp. 0.86%
Klepierre SA 0.81%
IGM Financial, Inc. 0.81%
Stockland 0.80%
COSCO SHIPPING Holdings Co. Ltd. 0.79%
Quinenco SA 0.78%
Brookfield Asset Management Ltd. 0.78%

Check overlap with more funds →

On the same fields

DFAX
Dimensional World ex U.S. Core Equity 2 ETF
IQDF
Northern Trust International Quality Dividend ETF
Where it sits Stock ETF Stock ETF
Issuer Dimensional Northern Trust
What it is Actively managed Tracks an index
Total return, 1 year +20.9% +24.5%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 +3.6 pts +7.2 pts
Expense ratio 0.28% 0.47%
Already in the S&P 500 0.0% 0.0%
Holdings 10481 182
Net assets, as of Jul 31, 2026 $12.0bn $1.2bn

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

DFAX in plain words

DFAX is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +20.9% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.28% a year. By its holdings filed for Jul 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 10,481 positions, with the top ten at 8.2%. It sat 3.4% below its high of Sep 4, 2026 on Oct 9, 2026.

IQDF in plain words

IQDF tracks an index. Over the year to Oct 9, 2026 it returned +24.5% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.47% a year. By its holdings filed for Jul 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 182 positions, with the top ten at 19.8%. It sat 4.3% below its high of Sep 8, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, DFAX or IQDF?
In the year to Oct 9, 2026, with distributions reinvested, DFAX returned +20.9% and IQDF +24.5%.
Which is cheaper, DFAX or IQDF?
DFAX is cheaper, by 0.19 percentage points a year. That is about $19 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do DFAX and IQDF overlap with the S&P 500?
By their latest filed holdings, 0% of DFAX and 0% of IQDF by weight is stocks the S&P 500 already holds.
Other comparisons
DFAX vs GSIDDFAX vs DFICDFAX vs IDEVDFAX vs IEFAIQDF vs VEUEFA vs IQDFIQDF vs VXUSIEFA vs IQDF
DFAX on its own →IQDF on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
DFAX filings on SEC EDGAR ↗DFAX prospectus with the expense ratio (SEC) ↗Dimensional website ↗IQDF filings on SEC EDGAR ↗IQDF prospectus with the expense ratio (SEC) ↗

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, DFAX against IQDF, data as of Oct 9, 2026. https://etfiq.com/compare/any/dfax-vs-iqdf

Open data

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