Dimensional World Equity ETF

Dimensional World Equity ETF (DFAW) is an actively managed "fund of funds": it buys five other Dimensional ETFs, which together hold US, international and emerging-market stocks of every size, plus real estate securities. It doesn't copy a global index. Instead, it leans toward smaller, lower-priced and more profitable companies. Total annual expenses are 0.24%, and its own management fee is 0.02%, according to its prospectus filed February 27, 2026.

• Over the year to Oct 27, 2026, DFAW returned +15.9%, 1st of 8 among similar funds.
• Its worst full calendar year was 2024 (+15.5%); its best was 2025 (+20.6%).
• The deepest fall in its price history was 16.9% (Dec 4, 2024 to Apr 8, 2025), recovered by Jun 6, 2025.

As of Jul 31, 2026, the fund held 5 securities; the ten largest made up 99.93% of assets.

• Over the three months to Jul 31, 2026, investors added a net $232.5M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +3.84%, +0.09%, +0.06%.

DFAW does not track an index. Its manager, Dimensional Fund Advisors, puts substantially all of the money into five of its own ETFs. As of July 31, 2026, Dimensional US Core Equity 2 ETF made up about 53% of assets. International Core Equity 2 ETF held about 19%, US Core Equity 1 ETF about 18%, Emerging Markets Core Equity 2 ETF about 8% and Global Real Estate ETF about 2%. As of the prospectus date, roughly 71% of the fund's exposure was to US companies. That share moves with markets.

Inside those funds, Dimensional leans toward three traits its research links to higher expected returns. The first is smaller companies. The second is "value" stocks, meaning shares that are cheap compared with the company's underlying business. The third is higher profitability. Dimensional also uses shorter-term signals, such as price momentum, to decide how much of a stock to hold or whether to leave it out. It trades flexibly to keep trading costs down.

Dimensional reviews the mix from time to time. It can change allocations, or add and drop underlying funds, without telling shareholders. Under normal conditions, at least 80% of assets must be in stocks. The fund and its underlying funds may use futures to handle cash coming in and out, currency forwards to settle foreign trades, and securities lending for extra income. Because DFAW mainly holds the underlying funds, its own portfolio turnover was 0%.

• DFAW charges 0.24% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
• Of that, 0.02% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.01% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $25 in the first year and $306 over 10 years (assuming a 5% annual return).

In one low-cost fund, it holds stocks of every size across US, developed international and emerging markets, plus real estate securities.

DFAW could serve as the main stock fund in a retirement portfolio. It is all stocks, though, so it does not provide the steadiness that bonds or cash can. It launched in September 2023, so it has no record from the 2008, 2020 or 2022 downturns. Its deepest drop was 16.9%, from December 4, 2024 to April 8, 2025. It recovered by June 6, 2025, about two months later. Its weakest full calendar year, 2024, was still a 15.4% gain. A long bear market has not yet tested it. Someone drawing on it in a slump could have to sell shares at low prices. The trailing yield was 1.58% as of October 27, 2026, paid quarterly, so it is mainly a growth holding. In the SEC's standard example, $10,000 costs about $25 in the first year. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by other buffer (defined-outcome) funds, largest first.