What is the primary investment focus of AVIV and DFIV?

Both AVIV and DFIV are classified as Foreign Large Value ETFs. They aim to provide exposure to large-cap companies outside the United States that are considered undervalued relative to their fundamentals. These funds target the value factor in international developed markets, seeking stocks with lower valuation metrics compared to the broader market. By focusing on large-cap value, they aim to capture potential long-term premiums associated with this style. The specific methodologies may differ between the issuers, but the core objective of targeting international large-cap value stocks remains central to both products.

How do expense ratios compare between AVIV and DFIV?

AVIV has an expense ratio of 0.25%, while DFIV has an expense ratio of 0.27%. This represents a difference of 0.02 percentage points. Expense ratios reflect the annual operating costs deducted from fund assets. While 0.25% is marginally lower than 0.27%, both rates are relatively modest for actively managed international value ETFs. Over time, even small differences in fees can compound, affecting net returns. However, other factors like tracking error, liquidity, and specific holdings also influence performance. Investors often compare these fees to broader category averages to assess cost efficiency within the foreign large value segment.

What is the significance of the inception dates for AVIV and DFIV?

DFIV has an inception date of 16 April 1999, providing over two decades of operating history. This long track record allows investors to observe performance across multiple market cycles. In contrast, AVIV was launched on 28 September 2021, making it a relatively new fund with a shorter history. A longer history can offer more data for risk assessment and consistency checks. However, newer funds may employ updated strategies or technologies. The disparity in age means DFIV has more extensive public performance data, whereas AVIV's long-term reliability is still being established. Investors should weigh historical depth against newer approach potential.

How do the net assets of AVIV and DFIV differ?

DFIV possesses significantly higher net assets of $22.2 billion compared to AVIV's $2.1 billion. Larger net assets generally indicate greater investor adoption and can enhance liquidity, allowing for tighter bid-ask spreads and easier trading volumes. High asset bases also provide funds with more resources to manage redemptions without disrupting portfolio construction. Conversely, AVIV's smaller size might suggest it is in an earlier growth phase or caters to a more niche audience. While size does not guarantee performance, it is a practical factor for investors considering trading ease and fund stability. DFIV's scale is a notable advantage for those prioritising liquidity.

What are the key holdings overlaps between AVIV and DFIV?

Both AVIV and DFIV list Shell (SHEL) and BP among their top holdings. In AVIV, Shell accounts for 1.97% and BP for 1.23% of the portfolio. For DFIV, Shell is the largest holding at 3.34%, while BP stands at 0.98%. This overlap suggests both funds see value opportunities in the energy sector, particularly among these major integrated oil companies. However, the weighting differs, with DFIV showing a higher concentration in Shell. Such overlaps are common in international value strategies, as many large value stocks fall into similar sectors like energy, financials, and industrials. The specific weights reflect each fund's unique construction methodology.

How do dividend yields compare for AVIV and DFIV?

AVIV currently reports a dividend yield of 2.77%, which is higher than DFIV's yield of 2.57%. Dividend yield is calculated by dividing the annual distributions by the current share price. A higher yield can indicate potential income generation from the underlying holdings. However, yields fluctuate based on market conditions and company policies. Both funds focus on large-cap value stocks, which often have more established dividend policies compared to growth stocks. The 0.20 percentage point difference is modest. Investors should consider that yield alone does not determine total return, and capital appreciation or depreciation also plays a crucial role in overall performance.

Are there any specific holdings differences outside the top overlap?

While Shell and BP are shared top holdings, AVIV provides a more detailed breakdown of its top positions, including BBVA at 2.55%, BHP at 1.33%, and NWG at 1.02%. DFIV's available data highlights Shell at 3.34% and BP at 0.98% but does not list other specific top holdings in the provided context. AVIV's top holdings show diversification across banks, industrials, and technology components like ASML. Without full holdings data for DFIV, a complete comparison is difficult. However, both funds aim to capture the international value factor, which naturally leads to overlaps in sectors like financials and energy, even if the specific weightings and additional holdings differ.

What index tracking information is available for these funds?

According to the provided data, the specific index tracked is not available for either AVIV or DFIV. These funds may be actively managed or follow proprietary systematic strategies rather than benchmarking against a standard public index like MSCI World Value. Lack of a disclosed index can limit transparency regarding the exact selection criteria compared to passive ETFs. Investors often rely on the stated category, 'Foreign Large Value', to understand the market segment. Without a public index, performance evaluation may require comparing returns against broader benchmarks or peer groups. This aspect highlights a difference between traditional index-tracking ETFs and funds employing distinct, non-index-replication approaches.

How does the concentration of top holdings differ?

DFIV exhibits a higher concentration in its top holding, with Shell representing 3.34% of the fund. In comparison, AVIV's largest listed holding, BBVA, accounts for 2.55%, while its position in Shell is lower at 1.97%. This difference suggests DFIV may have a stronger tilt towards specific large energy stocks, potentially impacting its sensitivity to energy sector price movements. AVIV's portfolio appears more diversified among its top names, with weights generally below 2.6%. Concentration levels can influence risk; higher weightings in single stocks may lead to greater volatility if those specific companies underperform. Investors should consider their comfort with such single-stock risks.

What are the transparency considerations regarding methodology?

Both funds have the constraint that the index tracked is not available, which limits the transparency of their methodology compared to standard index funds. This absence makes it harder for investors to independently verify the exact selection rules or rebalancing criteria. While the category is defined as Foreign Large Value, the internal logic for choosing specific stocks remains proprietary or undisclosed in this dataset. This can pose challenges for those who strictly prefer transparent, rules-based passive investing. However, the provided holdings and yields offer a snapshot of current exposure. Investors should be aware that understanding the 'why' behind holdings may require further research into the issuer's documentation.

Is there an educational disclaimer regarding this comparison?

This comparison between AVIV and DFIV is provided for educational purposes only and does not constitute financial advice. The data, including expense ratios, net assets, dividend yields, and holdings, is sourced from Yahoo Finance as of 22 September 2026 and is subject to change. Past performance is not indicative of future results. Investors should conduct their own due diligence, consider their individual financial circumstances, and consult with a qualified financial advisor before making investment decisions. The differences in fees, size, history, and holdings highlight distinct characteristics but do not guarantee that one fund is superior to the other for all investors.

AVIV vs DFIV

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare AVIV and DFIV, two foreign large value ETFs, across fees, holdings, dividends, and index tracking. Discover how Avantis International Large Cap Value ETF and Dimensional International Value ETF approach international markets. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

AVIV

Metric

DFIV

0.25%

Expense Ratio

0.27%

2.77%

Dividend Yield

2.57%

$2.08B

Net Assets

$22.16B

610

Holdings

609

Sep 28, 2021

Inception Date

Apr 16, 1999

–

Index Tracked

–

Foreign Large Value

Fund Category

Foreign Large Value

AVIV costs about $2.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	AVIV	DFIV
SHELShell plc	1.97%	3.34%
BPBP p.l.c.	1.23%	0.98%

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Investment Analysis

AVIV

Pros

The expense ratio of 0.25% is slightly lower than its comparable fund.
Recent holdings show a dividend yield of 2.77%.
Top holdings are well-diversified across banks and industrial stocks.

Considerations

Relative new age makes it riskier for long-term data reliability.
Total net assets of $2.1 billion is much lower than its major competitor.
The index tracked is not available, limiting transparency of methodology.

DFIV

Pros

Expense ratio of 0.27% is competitive for foreign large-value ETFs.
Huge net assets of $22.2 billion suggest strong liquidity.
Long operating history from 1999 offers extensive performance tracking.

Considerations

Lower dividend yield of 2.57% compared to some peers.
Top holding concentration of Shell stock at 3.34% is relatively high.
The index tracked is not available, limiting transparency of methodology.

About AVIV and DFIV

AVIV (AVIV)

The Avantis International Large Cap Value ETF (AVIV) is an exchange-traded fund designed to provide investors with exposure to international large-cap companies that exhibit value characteristics. Managed by American Century Investments, this fund aims to deliver long-term capital appreciation by investing in a diversified portfolio of approximately 610 holdings. With a modest expense ratio of 0.25%, AVIV offers a cost-effective way to access foreign value stocks. The fund currently reports a net asset value of USD 2.08 billion and provides a dividend yield of 2.77%, making it an attractive option for income-focused investors seeking diversification beyond domestic markets. Investors should note that like all equities, the value of this fund can fluctuate, and past performance does not guarantee future results.

DFIV (DFIV)

The Dimensional International Value ETF (DFIV) offers investors exposure to developed and emerging markets outside the United States and Canada. This fund focuses on companies in international markets that appear to be trading at lower valuations relative to their peers, often referred to as 'value' stocks. By investing in a diversified basket of hundreds of holdings, DFIV aims to capture the potential long-term returns associated with the value investment style while spreading risk across various sectors and regions. It provides a way to diversify a portfolio beyond domestic assets. However, international investing carries unique risks, including currency fluctuations and geopolitical events. The fund’s expense ratio is moderate, and it may distribute income. As with any investment, values can rise and fall, and past performance is not a guarantee of future results.

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AVIV vs DFIV

Fund Snapshot