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DFUS vs IWL: Differences, Returns & Fees

DFUS and IWL hold 73% of their weight in the same names. Net assets: $20.9bn on Jul 31, 2026 for Dimensional U.S. Equity Market ETF, and $2.3bn on Oct 9, 2026 for iShares Russell Top 200 ETF.

DFUS costs 0.06 points a year less; their one-year returns differ by 0.5 points; DFUS is 9.5 times larger.

DFUS vs IWL: Differences, Returns & Fees
DFUSIWL
Expense ratio0.09%0.15%
Net assets, as of Jul 31, 2026$20.9bn$2.2bn
Total return, 1 year+17.3%+16.8%
What it tracksNo index, actively managedRussell Top 200 Index
Holdings in common73%
Top ten holdings, share of the fund34.6%44.6%

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

+17.3%
DFUS total return, 1 year
+16.8%
IWL total return, 1 year
0.09%
DFUS expense ratio
0.15%
IWL expense ratio

What they hold in common

By the books each fund has filed, DFUS and IWL hold 73% 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.

half

73% in common

Positions both hold, largest shared weight first
Holding DFUS IWL
NVIDIA CORPORATION 6.75% 9.18%
APPLE INC. 6.45% 8.35%
MICROSOFT CORPORATION 4.99% 6.82%
AMAZON.COM, INC. 3.83% 4.37%
ALPHABET INC. 3.00% 3.52%
BROADCOM INC. 2.63% 2.89%
ALPHABET INC. 2.48% 2.84%
META PLATFORMS, INC. 1.77% 2.71%
BERKSHIRE HATHAWAY INC. 1.38% 1.65%
JPMORGAN CHASE & CO. 1.37% 1.53%
MICRON TECHNOLOGY, INC. 1.35% 1.99%
TESLA, INC. 1.27% 1.92%
Only in DFUS
ELI LILLY AND COMPANY 1.33%
APPLIED MATERIALS, INC. 0.58%
GENERAL ELECTRIC COMPANY 0.55%
TEXAS INSTRUMENTS INCORPORATED 0.36%
LINDE PUBLIC LIMITED COMPANY 0.32%
MCDONALD'S CORPORATION 0.28%
SEAGATE TECHNOLOGY HOLDINGS PUBLIC LIMITED COMPANY 0.28%
THE TJX COMPANIES, INC. 0.25%
Only in IWL
ELI LILLY 1.62%
APPLIED MATERIAL INC 0.69%
GE AEROSPACE 0.55%
TEXAS INSTRUMENT INC 0.44%
LINDE PLC 0.38%
EATON PLC 0.29%
MCDONALDS CORP 0.29%
WELLTOWER 0.28%

Check overlap with more funds →

On the same fields

DFUS
Dimensional U.S. Equity Market ETF
IWL
iShares Russell Top 200 ETF
Where it sits Stock ETF Stock ETF
Issuer Dimensional iShares
What it is Actively managed Tracks an index
Total return, 1 year +17.3% +16.8%
Its benchmark over the same days +16.7% (IWV) not published
Gap to its benchmark +0.6 pts vs IWV not available
Expense ratio 0.09% 0.15%
Already in the S&P 500 89.4% 99.2%
Holdings 2236 202
Net assets, DFUS as of Jul 31, 2026 and IWL as of Oct 9, 2026 $20.9bn $2.3bn

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

About DFUS

DFUS is actively managed and tracks no index. The prospectus expense ratio is 0.09% a year. By its holdings filed for Jul 31, 2026, 89% of the fund by weight is stocks the S&P 500 also holds, across 2,236 positions, with the top ten at 34.6%.

Over the year to Oct 9, 2026 it returned +17.3% with distributions reinvested, against +16.7% for its benchmark, the Russell 3000 Index.

About IWL

IWL tracks an index. Over the year to Oct 9, 2026 it returned +16.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 9, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 202 positions, with the top ten at 44.6%.

Questions people ask

Which returned more over the last year, DFUS or IWL?
In the year to Oct 9, 2026, with distributions reinvested, DFUS returned +17.3% and IWL +16.8%.
Which is cheaper, DFUS or IWL?
DFUS is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do DFUS and IWL overlap with the S&P 500?
By their latest filed holdings, 89% of DFUS and 99% of IWL by weight is stocks the S&P 500 already holds.
Other comparisons
DFUS vs USCLDFUS vs SNPEDFUS vs GSUSDFUS vs GRNYIWL vs OEFIWL vs IWVIWL vs MTUMIWL vs SPHQ
DFUS on its own →IWL on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
DFUS filings on SEC EDGAR ↗DFUS prospectus with the expense ratio (SEC) ↗Dimensional website ↗IWL filings on SEC EDGAR ↗IWL prospectus with the expense ratio (SEC) ↗iShares page for IWL ↗

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, DFUS against IWL, data as of Oct 9, 2026. https://etfiq.com/compare/any/dfus-vs-iwl

Open data

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