DFAC vs RWL: Holdings Overlap
DFACDimensional U.S. Core Equity 2 ETF
Dimensional · 2546 holdings · $47.9B · as of 2026-04-30
RWLInvesco S&P 500 Revenue ETF
Invesco · 502 holdings · $9.8B · as of 2026-05-31
Holdings snapshots are 31 days apart (DFAC: 2026-04-30, RWL: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are DFAC and RWL?
Dimensional U.S. Core Equity 2 ETF (DFAC, by Dimensional) holds 2546 positions; Invesco S&P 500 Revenue ETF (RWL, by Invesco) holds 502. They have 470 holdings in common, and by portfolio weight the two funds are 52.5% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 52.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 470DFAC holds 2546 · RWL holds 502
- Weight in Shared Holdings
- DFAC 75%·RWL 99%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in DFAC
2076 of 2546 positions (24.5% of the fund) are not held by RWL. Showing the top 30 by weight.
Sector Breakdown
| Sector | DFAC | RWL |
|---|---|---|
| Information Technology | 27.1% | 15.4% |
| Health Care | 8.9% | 19.3% |
| Financials | 14.6% | 15.1% |
| Industrials | 13.6% | 8.9% |
| Consumer Discretionary | 10.2% | 12.1% |
| Other Sectors | 24.9% | 29.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DFAC | +3.7% | +16.6% | +26.8% | +19.5% | +12.3% | — | 0.88% |
| RWL | +3.1% | +17.9% | +31.3% | +19.4% | +14.1% | +14.1% | 1.20% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in DFAC vs RWL →
Shared Holdings(470)
The top 10 shared positions account for 27% of the overlap, led by AMZN, AAPL and MSFT.
 AMZNAmazon.com, Inc. COM | 3.06% | 4.47% | 3.06% |
|---|---|---|---|
 AAPLApple Inc. COM | 4.68% | 2.55% | 2.55% |
 MSFTMicrosoft Corp. COM | 3.92% | 1.66% | 1.66% |
 GOOGLAlphabet Inc. CAP STK CL A | 2.14% | 1.22% | 1.22% |
 GOOGAlphabet Inc. CAP STK CL C | 1.69% | 1.20% | 1.20% |
 NVDANVIDIA Corp. COM | 5.60% | 1.20% | 1.20% |
 JPMJPMorgan Chase & Co. COM | 1.00% | 1.43% | 1.00% |
 METAMeta Platforms, Inc., Class A | 1.87% | 0.95% | 0.95% |
 XOMExxon Mobil Corp. COM | 0.88% | 1.52% | 0.88% |
 BRK-BBerkshire Hathaway, Inc., Class B | 0.71% | 1.75% | 0.71% |
 CVXChevron Corp. COM | 0.56% | 0.86% | 0.56% |
 MUMicron Technology Inc. COM | 0.71% | 0.48% | 0.48% |
 COSTCostco Wholesale Corporation COM | 0.47% | 1.35% | 0.47% |
 CSCOCisco Systems, Inc. COM | 0.46% | 0.45% | 0.45% |
 AVGOBroadcom Inc COM | 0.95% | 0.44% | 0.44% |
 JNJJohnson & Johnson COM | 0.82% | 0.43% | 0.43% |
 CATCaterpillar Inc COM | 0.49% | 0.41% | 0.41% |
 PGThe Procter & Gamble Co. COM | 0.50% | 0.39% | 0.39% |
 HDHome Depot, Inc. (The) | 0.38% | 0.73% | 0.38% |
 LLYEli Lilly & Co. COM | 0.87% | 0.35% | 0.35% |
 MRKMerck & Co., Inc COM | 0.38% | 0.33% | 0.33% |
 GSGoldman Sachs Group, Inc. (The) | 0.32% | 0.77% | 0.32% |
 WFCWells Fargo & Co. COM | 0.32% | 0.61% | 0.32% |
 INTCIntel Corporation COM | 0.31% | 0.62% | 0.31% |
 PEPPepsico Inc COM | 0.31% | 0.41% | 0.31% |
Showing the top 250 of 470 shared holdings by overlap weight.
Frequently Asked Questions
How much do DFAC and RWL overlap?
DFAC and RWL overlap by 52.5% of portfolio weight. They share 470 holdings (DFAC holds 2546 positions and RWL holds 502), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFAC and RWL?
The two portfolios are 52.5% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of DFAC and RWL?
The largest positions held by both funds are AMZN, AAPL, MSFT, GOOGL and GOOG. Together the top 10 shared positions account for 27% of the total overlap.
What does DFAC own that RWL doesn't?
2076 positions (24.5% of DFAC) are unique to DFAC, led by LNG, FERG and MRVL. In the other direction, 32 positions (0.9% of RWL) are unique to RWL.