What does the Large Blend classification mean for these funds?

Both AVUS and DFUS are categorised as Large Blend ETFs, targeting established US companies with mixed characteristics of growth and value. Unlike pure growth or value strategies, Large Blend funds capture a broad spectrum of investment styles within large-cap stocks. This categorisation suggests both funds are structured to reflect the performance of the wider US large-cap equity market, rather than focusing on a single specific investment factor or sector.

How do ETF expense ratios differ from trading commissions?

Expense ratios, such as the 0.15% for AVUS and 0.09% for DFUS, are annual fees deducted automatically from a fund's total assets to cover management and operational costs. These are continuous costs paid by all shareholders. In contrast, trading commissions are one-off charges paid only when buying or selling shares on an exchange. When comparing funds, the expense ratio acts as a predictable drag on long-term returns, whereas commissions depend on individual transaction frequency.

Why is dividend yield not the same as total return?

Dividend yield measures the cash income paid out relative to the share price. For AVUS, the yield is 0.92% and DFUS is 0.83%. However, total return includes both this cash income and the capital appreciation (or depreciation) of the underlying stocks. A fund can have a higher yield but lower capital growth. Investors must look beyond yield to understand how a fund performs during both rising and falling markets through price changes.

What does the fee difference of 0.06% mean for long-term returns?

The expense ratio difference between AVUS (0.15%) and DFUS (0.09%) is 0.06 percentage points. In the context of equity investing, where market volatility can cause returns to fluctuate by double digits annually, a 0.06% difference is a minor component of overall performance. While lower costs are generally preferred, other factors such as the fund's underlying strategy and how its specific portfolio holdings perform relative to each other typically have a far greater impact on final returns.

How similar are the portfolios of AVUS and DFUS?

The portfolios show strong alignment in core holdings. AVUS includes AAPL, NVDA, MSFT, AMZN, META, MU, GOOGL and GOOG among its top ten positions. DFUS also lists all eight of these major US companies in its top ten holdings. Although the individual weighting of these tech and industrial giants varies slightly between the two funds, this high degree of overlap suggests both portfolios are heavily anchored by similar leaders within the US large-cap market.

How do the different fund ages affect performance history?

DFUS has a long operating history, launched in September 2001, providing data covering multiple market cycles over two decades. AVUS was launched in September 2019, offering roughly six years of performance history. Beginners should note that shorter history means fewer data points for analysing how a fund behaves during specific market stress periods. The longer track record of DFUS generally offers more statistical confidence, though past performance never guarantees future results.

Which fund is more cost-efficient according to the data?

According to the data, DFUS is the more cost-efficient option, charging an expense ratio of 0.09% compared to AVUS at 0.15%. This lower fee structure is designed to minimise the impact of costs on returns. However, while DFUS is cheaper to hold, it has a slightly lower dividend yield (0.83%) compared to AVUS (0.92%). The cost advantage of DFUS is a key differentiator, though investors must consider how all fund characteristics interact with their personal financial goals.

How do the top holdings differ between AVUS and DFUS?

Both funds feature major US technology and industrial firms, but with different emphasis. DFUS shows a higher concentration in tech, led by NVDA at 7.17% and AAPL at 6.89%. AVUS's largest positions are AAPL at 5.75% and NVDA at 5.61%. While both funds cover large-cap US companies, the variance in allocation to specific market leaders could contribute to performance differences as the valuations of these individual stocks fluctuate over time.

How does the size of these funds impact liquidity?

DFUS has net assets of $21.3 billion, while AVUS manages $14.5 billion. In ETF terms, larger fund size generally correlates with higher daily trading volumes and tighter bid-ask spreads, which reduces costs for buying and selling shares. AVUS is considered a large fund itself, providing solid liquidity. Nonetheless, the scale difference means DFUS might offer slightly better liquidity conditions for very large transactions compared to AVUS.

What data regarding sector exposure is missing from the comparison?

For both AVUS and DFUS, specific sector weightings are not currently available in the provided data. Typically, Large Blend ETFs hold positions across all major sectors like technology, healthcare, financials, and industrials. Without these detailed sector weights, investors cannot precisely verify if one fund is more concentrated in a particular industry than the other. It is necessary to consult official fund documents for a comprehensive look at how sector risk is distributed.

What does the missing benchmark information imply?

Neither AVUS nor DFUS has a specific index tracked listed in the available data. This lack of transparency means investors cannot immediately identify the precise market segment being targeted. Without a defined benchmark, it is challenging to assess the fund's methodology, its deviation from a standard US market index, or to accurately calculate tracking error. This highlights the importance of checking official documentation to confirm the underlying investment strategy of these funds.

What should beginners verify before proceeding?

When reviewing this data, beginners should verify the missing sector weights and benchmark details in official documents. Understanding these is crucial, as the provided figures do not fully capture the portfolio's risk distribution or specific methodology. It is also important to read the full prospectus for both funds. This ensures a complete understanding of how each manager, Avantis or Dimensional, structures its Large Blend portfolio and manages operational risks.

AVUS vs DFUS

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

Compare AVUS (Avantis US Equity ETF) and DFUS (Dimensional US Equity Market ETF). This page examines their expense ratios, top holdings, dividend yields and approaches to tracking the US equity market. AVUS charges 0.15% and DFUS 0.09%. Both are Large Blend ETFs, with DFUS launched in 2001 and AVUS in 2019. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

AVUS

Metric

DFUS

0.15%

Expense Ratio

0.09%

0.92%

Dividend Yield

0.83%

$14.48B

Net Assets

$21.30B

1,921

Holdings

2,245

Sep 24, 2019

Inception Date

Sep 25, 2001

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Index Tracked

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Large Blend

Fund Category

Large Blend

DFUS costs about $6.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	AVUS	DFUS
AAPLApple Inc.	5.75%	6.89%
NVDANVIDIA Corporation	5.61%	7.17%
MSFTMicrosoft Corporation	4.33%	5.25%
AMZNAmazon.com, Inc.	3.38%	3.49%
METAMeta Platforms, Inc.	2.37%	2.15%
MUMicron Technology, Inc.	2.33%	1.58%
GOOGLAlphabet Inc.	2.07%	2.86%
GOOGAlphabet Inc.	1.67%	2.35%

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Investment Analysis

AVUS

Pros

Avantis maintains low costs with a 0.15% expense ratio suitable for US large blend exposure.
Strong liquidity from $14.5 billion assets facilitates efficient daily ETF trading operations.
A 0.92% dividend yield supports income for UK investors seeking cash flow.

Considerations

No index tracking details are available for transparency on benchmark methodology.
Sector weights are not available, hindering comprehensive risk and diversification assessment.
Recent inception in September 2019 limits historical performance data for evaluation.

DFUS

Pros

Dimensional delivers ultra-low costs with a 0.09% expense ratio for broad US equity exposure.
Larger fund size of $21.3 billion assets enhances liquidity and bid-ask spreads.
Long track record since September 2001 provides ample performance history.

Considerations

Index tracked details are not available, reducing clarity on specific benchmark methodology.
Sector weights data is not available, limiting detailed portfolio transparency.
Lower 0.83% dividend yield may reduce income appeal for income-focused investors.

About AVUS and DFUS

AVUS (AVUS)

The Avantis US Equity ETF (AVUS) is a large blend fund designed for investors seeking broad exposure to the US stock market. Launched in September 2019, this fund offers a cost-effective way to participate in the performance of American equities, holding over 1,900 companies across various sectors. With a low expense ratio of 0.15%, it aims to provide efficient market access while potentially capturing returns from both value and growth segments within the large-cap spectrum. Investors should note that while it offers diversification through its numerous holdings, equity markets can be volatile, and values may rise or fall. The fund has accumulated substantial net assets, indicating strong investor interest since its inception. Dividend yield is present, providing a modest income component alongside potential capital appreciation. As with any investment, it's essential to consider your risk tolerance and investment goals before adding this ETF to your portfolio.

DFUS (DFUS)

The Dimensional US Equity Market ETF (DFUS) is designed to provide broad exposure to the U.S. equity market. With an inception date of 25 September 2001 and a current net asset value of approximately USD 21.30 billion, this Large Blend fund holds over 2,200 companies, offering significant diversification. It features a low expense ratio of 0.09%, making it a cost-effective option for investors seeking general market access. While the fund has a reported dividend yield of 0.83%, it is important to note that its primary goal is long-term capital growth through equity exposure. Investors should remember that stock market values can rise and fall, and returns are not guaranteed. This ETF serves as a tool for those looking to understand how broad market indices function within a portfolio. As with any investment, it is essential to consider your own financial situation and risk tolerance before proceeding.

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AVUS vs DFUS

Fund Snapshot