Dimensional Emerging Markets Value ETF

Dimensional Emerging Markets Value ETF (DFEV) is an actively managed fund that does not track an index. It holds thousands of value stocks, meaning shares that look cheap compared with the company's book value, in markets such as Taiwan, South Korea, China and India. Its 0.43% expense ratio is above the 0.32% average of similar funds. Even so, its returns ranked 2nd of 9 over one and three years through October 27, 2026.

• Over the year to Oct 27, 2026, DFEV returned +23.6%, 2nd of 9 among similar funds.
• Its worst full calendar year was 2024 (+7.2%); its best was 2025 (+32.6%).
• The deepest fall in its price history was 18.5% (May 4, 2022 to Oct 31, 2022), recovered by Jun 14, 2023.

As of Jul 31, 2026, the fund held 3,534 securities; the ten largest made up 18.57% of assets.

• Over the three months to Jul 31, 2026, investors added a net $147.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +9.57%, -1.62%, -4.93%.

DFEV is run by Dimensional Fund Advisors. It does not try to copy an index. The fund buys emerging-market stocks that trade at a low price compared with their book value (what the company's assets are worth on its balance sheet). The manager may also look at price compared with cash flow or earnings. Compared with the value part of each market, the fund can lean toward smaller companies, cheaper stocks and more profitable companies. At least 80% of net assets must be in markets that Dimensional's Investment Committee has approved, and these can include frontier markets (countries at an earlier stage of development).

The manager can also add to, trim or drop a stock based on shorter-term signals, such as price momentum. Trades are timed to keep trading costs low. Portfolio turnover was 14%. As of July 31, 2026, the fund held 3,534 stocks. The 10 largest made up 18.57% of assets, led by SK hynix at 5.7%.

A few mechanics are worth knowing. The fund may own stocks through depositary receipts (shares listed outside the company's home country) or equity swaps. It may also hold China A-shares and variable interest entities, which are contract-based structures that give exposure to some Chinese companies. It uses futures to put new cash to work or to meet withdrawals. It lends securities to earn extra income. The prospectus describes its currency trades as tools for settling purchases and moving cash, not as a hedge. That means changes in foreign exchange rates still affect returns.

• DFEV charges 0.43% a year, versus an average of 0.32% for the similar funds below (8th of 9, cheapest first).
• Of that, 0.38% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.03% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $44 in the first year and $576 over 10 years (assuming a 5% annual return).

It is a concentrated bet on emerging-market value stocks, with a 3-year volatility of 18% and a track record that starts in 2022, so it fits as a smaller position rather than a core one.

DFEV can add stocks from Taiwan, South Korea, China and India that a US-focused portfolio may lack. Its record is short. It launched April 26, 2022, so it missed the 2008 and 2020 crashes and the start of the 2022 bear market. Its deepest drop, 18.5%, ran from May 4 to October 31, 2022. It recovered by June 14, 2023, about 7.4 months later. It has not had a losing full calendar year, and its weakest, 2024, still gained 7.52%. Still, its worst quarter fell 7.6%, and anyone who had to sell during a slump like that would lock in the loss. The trailing yield was 2.2% as of October 27, 2026, paid quarterly. Under the SEC's standard example, costs on $10,000 come to $44 in year one. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.