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DFAX vs VEU: Differences, Returns & Fees

DFAX and VEU hold 54% of their weight in the same names, and DFAX returned +20.9% over the year. Net assets: $12.0bn on Jul 31, 2026 for Dimensional World ex U.S. Core Equity 2 ETF, and $68.1bn on Sep 30, 2026 for Vanguard FTSE All World Ex US ETF.

VEU costs 0.24 points a year less; their one-year returns differ by 2.7 points; VEU is 8.0 times larger.

DFAXVEU
Expense ratio0.28%0.04%
Net assets, as of Jul 31, 2026$12.0bn$95.8bn
Total return, 1 year+20.9%+18.2%
What it tracksNo index, actively managedFTSE All-World ex US Index
Holdings in common54%
Top ten holdings, share of the fund8.2%14.5%
Below its high3.4%, high on Sep 4, 20263.9%, high on Sep 4, 2026

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

+20.9%
DFAX total return, 1 year
+18.2%
VEU total return, 1 year
0.28%
DFAX expense ratio
0.04%
VEU expense ratio

What they hold in common

By the books each fund has filed, DFAX and VEU hold 54% 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 Aug 31, 2026.

half

54% in common

Positions both hold, largest shared weight first
Holding DFAX VEU
Taiwan Semiconductor Manufacturing Company Limited 1.86% 4.36%
Samsung Electronics Co., Ltd. 1.34% 2.08%
SK hynix Inc. 0.81% 1.60%
Tencent Holdings Limited 0.49% 0.86%
TOTALENERGIES SE 0.54% 0.41%
Nestle S.A. 0.40% 0.60%
Roche Holding AG 0.39% 0.73%
TOYOTA MOTOR CORPORATION 0.38% 0.50%
ROYAL BANK OF CANADA 0.36% 0.68%
Allianz SE 0.30% 0.47%
Mitsubishi UFJ Financial Group, Inc. 0.27% 0.59%
ADVANTEST CORPORATION 0.26% 0.36%
Only in DFAX
Novartis AG 0.67%
ASML Holding N.V. 0.62%
SHELL PLC 0.48%
Samsung Electronics Co., Ltd. 0.29%
HSBC HOLDINGS PLC 0.28%
ROYAL BANK OF CANADA 0.26%
BP P.L.C. 0.25%
Banco Bilbao Vizcaya Argentaria, S.A. 0.22%
Only in VEU
SLBBH1142 1.11%
MKTLIQ 0.55%
SoftBank Group Corp 0.29%
SAMSUNG ELECTRONICS-PREF 0.26%
Investor AB 0.18%
Air Liquide SA 0.17%
SK Square Co Ltd 0.16%
L'Oreal SA 0.15%

Check overlap with more funds →

On the same fields

DFAX
Dimensional World ex U.S. Core Equity 2 ETF
VEU
Vanguard FTSE All World Ex US ETF
Where it sits Stock ETF Stock ETF
Issuer Dimensional Vanguard
What it is Actively managed Tracks the FTSE All-World ex-US
Total return, 1 year +20.9% +18.2%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 +3.6 pts +0.9 pts
Expense ratio 0.28% 0.04%
Already in the S&P 500 0.0% 0.0%
Holdings 10481 3862
Net assets, DFAX as of Jul 31, 2026 and VEU as of Sep 30, 2026 $12.0bn $68.1bn

DFAX and VEU 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.

VEU in plain words

VEU tracks the FTSE All-World ex-US. Over the year to Oct 9, 2026 it returned +18.2% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.04% a year. By its holdings published by its issuer as of Aug 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 3,862 positions, with the top ten at 14.5%. It sat 3.9% below its high of Sep 4, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, DFAX or VEU?
In the year to Oct 9, 2026, with distributions reinvested, DFAX returned +20.9% and VEU +18.2%.
Which is cheaper, DFAX or VEU?
VEU is cheaper, by 0.24 percentage points a year. That is about $24 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do DFAX and VEU overlap with the S&P 500?
By their latest filed holdings, 0% of DFAX and 0% of VEU by weight is stocks the S&P 500 already holds.
Other comparisons
DFAX vs VEADFAX vs DIHPDFAX vs IDMODFAX vs IMTMDIHP vs VEUIDMO vs VEUIMTM vs VEUHFXI vs VEU
DFAX on its own →VEU 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 ↗VEU filings on SEC EDGAR ↗VEU prospectus with the expense ratio (SEC) ↗Vanguard page for VEU ↗

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 VEU, data as of Oct 9, 2026. https://etfiq.com/compare/any/dfax-vs-veu

Open data

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