Average Daily Volume
484.3K
Fund Overview
The Dimensional U.S. Targeted Value ETF (DFAT) is an exchange-traded fund managed by Dimensional Fund Advisors. DFAT seeks to provide long-term capital appreciation by investing in U.S. small- and mid-cap value stocks. The fund employs a systematic investment approach that targets companies with lower relative prices and higher profitability metrics, as defined by Dimensional's proprietary research. DFAT is designed to offer exposure to value stocks while maintaining diversification across sectors and industries. The fund is passively managed but does not track a traditional index; instead, it follows Dimensional's evidence-based investment philosophy, which emphasizes factors like value and profitability.
- Asset Class
-
Equity
- Industry
-
N/A
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- N/A
- Currency Hedged
-
No
- Portfolio Turnover
-
9 %
- Dividend Date
-
Why Invest in the DFAT ETF?
Potential Benefits
- Provides targeted exposure to U.S. small- and mid-cap value stocks, which have historically outperformed growth stocks over long periods.
- Employs a disciplined, research-driven approach that focuses on lower relative prices and higher profitability metrics.
- Offers broad diversification across sectors and industries within the small- and mid-cap value universe.
- Lower expense ratio compared to many actively managed value funds.
- Backed by Dimensional Fund Advisors' extensive research and long-standing expertise in factor-based investing.
Potential Risks
- Value stocks may underperform growth stocks during certain market cycles, particularly in strong bull markets.
- Small- and mid-cap stocks can be more volatile than large-cap stocks, leading to higher short-term price fluctuations.
- The fund's performance may deviate from traditional value indexes due to its unique screening criteria.
- Factor-based investing strategies may experience periods of underperformance relative to the broader market.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
+6.5%
|
+2.6%
|
-3.7%
|
+7.5%
|
0.0%
|
+4.4%
|
+1.2%
|
+0.2%
|
-5.9%
|
+2.0%
|
-
|
-
|
| 2025 |
+3.0%
|
-4.5%
|
-5.7%
|
-4.7%
|
+5.6%
|
+4.6%
|
+0.8%
|
+8.2%
|
-0.6%
|
-2.2%
|
+3.7%
|
+1.2%
|
| 2024 |
-3.4%
|
+2.4%
|
+5.3%
|
-6.1%
|
+5.3%
|
-3.2%
|
+10.0%
|
-2.2%
|
0.0%
|
-1.7%
|
+10.9%
|
-7.9%
|
| 2023 |
+9.8%
|
-1.0%
|
-6.6%
|
-2.1%
|
-3.1%
|
+10.4%
|
+7.2%
|
-3.4%
|
-4.5%
|
-5.4%
|
+8.7%
|
+11.8%
|
| 2022 |
-4.1%
|
+2.6%
|
-0.1%
|
-6.1%
|
+3.5%
|
-10.8%
|
+9.7%
|
-2.1%
|
-9.4%
|
+13.9%
|
+5.7%
|
-5.9%
|
| 2021 |
+2.9%
|
+11.7%
|
+6.6%
|
+3.1%
|
+3.3%
|
-3.0%
|
-1.4%
|
+2.7%
|
-1.8%
|
+4.8%
|
-2.3%
|
+5.2%
|
| 2020 |
-5.6%
|
-10.9%
|
-26.3%
|
+14.0%
|
+3.4%
|
+2.5%
|
+3.1%
|
+5.4%
|
-4.0%
|
+3.7%
|
+17.4%
|
+7.4%
|
| 2019 |
+11.2%
|
+4.0%
|
-3.2%
|
+4.9%
|
-10.3%
|
+7.9%
|
+1.0%
|
-7.0%
|
+5.9%
|
+1.7%
|
+3.0%
|
+3.3%
|
| 2018 |
+2.3%
|
-4.6%
|
+0.7%
|
+0.4%
|
+4.7%
|
-0.3%
|
+2.1%
|
+2.2%
|
-2.9%
|
-9.6%
|
+1.2%
|
-12.3%
|
| 2017 |
0.0%
|
+1.0%
|
-0.5%
|
+0.1%
|
-2.8%
|
+3.2%
|
+1.0%
|
-2.3%
|
+7.0%
|
+1.1%
|
+2.8%
|
+0.3%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
|
TAP
|
n/a |
0.7 % |
|
UNM
|
UNUM GROUP |
0.7 % |
|
X
|
UNITED STATES STEEL CORP |
0.7 % |
|
ALLY
|
ALLY FINANCIAL INC |
0.6 % |
|
SNX
|
TD SYNNEX CORP |
0.6 % |
|
FHN
|
FIRST HORIZON CORP |
0.6 % |
|
SSB
|
SOUTHSTATE CORP |
0.6 % |
|
SJM
|
JM SMUCKER CO |
0.6 % |
|
CAG
|
CONAGRA BRANDS INC |
0.5 % |
|
LAD
|
LITHIA MOTORS INC CLASS A |
0.5 % |
Top 10 holdings shown, out of 1 total holdings.
Related ETFs: DFAT vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
DFAT employs a passive yet dynamic investment strategy that targets U.S. small- and mid-cap value stocks. The fund does not track a traditional index but instead uses Dimensional's proprietary screening process to identify companies with lower relative prices and higher profitability. The portfolio is constructed to balance exposure across sectors while maintaining a value tilt. Holdings are weighted by market capitalization but with adjustments to enhance diversification. The fund is rebalanced periodically to maintain its target exposure to value and profitability factors, with transactions executed in a cost-efficient manner to minimize market impact.
Frequently Asked Questions
What makes DFAT different from other small-cap value ETFs?
DFAT differentiates itself by incorporating profitability metrics alongside traditional value factors, using Dimensional's proprietary research rather than tracking a standard index.
How often does DFAT rebalance its portfolio?
DFAT rebalances periodically to maintain its target exposure to value and profitability factors, with adjustments made as market conditions and company fundamentals change.
Does DFAT pay dividends?
Yes, DFAT pays quarterly dividends derived from the underlying stocks in its portfolio, though dividend yields may vary based on market conditions.
Is DFAT suitable for tax-advantaged accounts?
DFAT can be held in tax-advantaged accounts like IRAs, though investors should consult with a tax advisor about their specific situation.
Industry Overview
The Dimensional U.S. Targeted Value ETF (DFAT) operates within the U.S. small- and mid-cap value equity space. This segment of the market includes companies that are typically more established than small-cap growth firms but still offer potential for significant capital appreciation. Investing in value stocks involves selecting companies that appear undervalued based on fundamental metrics like price-to-book or price-to-earnings ratios. The small- and mid-cap value segment can provide diversification benefits and has historically delivered strong risk-adjusted returns over extended periods. DFAT's focus on profitability metrics adds an additional layer of quality screening to traditional value investing approaches.
Alternative Comparison
Compared to similar small-cap value ETFs like IJS (iShares S&P Small-Cap 600 Value ETF) and VBR (Vanguard Small-Cap Value ETF), DFAT offers a more refined approach to value investing. While IJS tracks a traditional value index and VBR provides broad small-cap value exposure, DFAT incorporates additional profitability screens that may lead to different performance characteristics. DFAT's expense ratio is competitive with these peers, though slightly higher than VBR's ultra-low cost structure. Unlike some value ETFs that rely solely on price multiples, DFAT's dual focus on value and profitability may provide better downside protection during market downturns.
Issuer Overview
Dimensional Fund Advisors (DFA) is a globally recognized investment firm known for its evidence-based approach to investing. Founded in 1981, DFA integrates academic research with practical portfolio management, emphasizing factors like value, profitability, and market efficiency. The firm offers a range of mutual funds and ETFs that target specific market segments and investment factors. DFA is particularly well-known for its expertise in small-cap and value investing, making DFAT a natural extension of its investment philosophy.
Conclusion
The Dimensional U.S. Targeted Value ETF (DFAT) represents a compelling option for investors seeking exposure to the U.S. small- and mid-cap value equity segment. Its research-driven approach, combining traditional value metrics with profitability screens, offers a differentiated take on value investing. While subject to the typical risks of small-cap and value investing, DFAT's disciplined methodology and Dimensional's expertise make it a worthy consideration for long-term investors building a diversified equity portfolio.
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