DFAS vs VTWO: Holdings Overlap
DFASDimensional U.S. Small Cap ETF
Dimensional · 2121 holdings · $15.3B · as of 2026-04-30
VTWOVanguard Russell 2000 Index Fund
Vanguard · 1952 holdings · $17.4B · as of 2026-05-31
Holdings snapshots are 31 days apart (DFAS: 2026-04-30, VTWO: 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 DFAS and VTWO?
Dimensional U.S. Small Cap ETF (DFAS, by Dimensional) holds 2121 positions; Vanguard Russell 2000 Index Fund (VTWO, by Vanguard) holds 1952. They have 1443 holdings in common, and by portfolio weight the two funds are 54.6% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 54.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1443DFAS holds 2121 · VTWO holds 1952
- Weight in Shared Holdings
- DFAS 57%·VTWO 77%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 DFAS
678 of 2121 positions (43.0% of the fund) are not held by VTWO. Showing the top 30 by weight.
Only in VTWO
509 of 1952 positions (22.3% of the fund) are not held by DFAS. Showing the top 30 by weight.
Sector Breakdown
| Sector | DFAS | VTWO |
|---|---|---|
| Industrials | 20.6% | 19.4% |
| Financials | 19.2% | 14.3% |
| Information Technology | 12.0% | 17.8% |
| Health Care | 11.1% | 15.5% |
| Consumer Discretionary | 12.4% | 7.3% |
| Other Sectors | 21.9% | 20.8% |
| Unclassified | 2.7% | 4.8% |
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. “Unclassified” is weight we could not classify (3% of DFAS, 5% of VTWO).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DFAS | +3.2% | +20.5% | +31.3% | +14.8% | +9.1% | — | 0.95% |
| VTWO | +1.8% | +23.1% | +38.8% | +17.3% | +7.7% | +11.0% | 1.07% |
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 DFAS vs VTWO →
Shared Holdings(1443)
The top 10 shared positions account for 5% of the overlap, led by TTMI, AEIS and MOD.
 TTMITTM Technologies Inc COM | 0.34% | 0.52% | 0.34% |
|---|---|---|---|
 AEISAdvanced Energy Industries, Inc. COM | 0.29% | 0.33% | 0.29% |
 MODModine Manufacturing Co. COM | 0.28% | 0.43% | 0.28% |
 SANMSanmina Corporation | 0.24% | 0.41% | 0.24% |
 RMBSRambus Inc. COM | 0.24% | 0.46% | 0.24% |
 HLHecla Mining Company COM | 0.23% | 0.33% | 0.23% |
 VIAVViavi Solutions Inc COM | 0.23% | 0.33% | 0.23% |
 ENSGEnsign Group, Inc. (The) | 0.22% | 0.28% | 0.22% |
 FCFSFirstcash Holdings Inc COM | 0.21% | 0.26% | 0.21% |
 FORMFormfactor Inc COM | 0.21% | 0.28% | 0.21% |
 POWLPowell Industries Inc. COM | 0.21% | 0.24% | 0.21% |
 SPXCSPX Technologies, Inc. COM | 0.21% | 0.31% | 0.21% |
 PLPlanet Labs PBC, Class A | 0.20% | 0.41% | 0.20% |
 PRIMPrimoris Services Corp. COM | 0.20% | 0.20% | 0.20% |
 STRLSterling Infrastructure Inc COM | 0.20% | 0.75% | 0.20% |
 UMBFUMB Financial Corporation | 0.19% | 0.28% | 0.19% |
 KTOSKratos Defense & Security Solutions, Inc. COM NEW | 0.19% | 0.34% | 0.19% |
 SNEXStoneX Group Inc COM | 0.19% | 0.24% | 0.19% |
 AGXArgan Inc COM | 0.18% | 0.26% | 0.18% |
 JXNJackson Financial, Inc., Class A | 0.18% | 0.20% | 0.18% |
 IESCIES Holdings Inc. COM | 0.25% | 0.18% | 0.18% |
 FLRFluor Corporation COM | 0.18% | 0.22% | 0.18% |
 DYDycom Industries, Inc. COM | 0.18% | 0.44% | 0.18% |
 ONBOld National Bancorp COM | 0.18% | 0.25% | 0.18% |
 ENSEnerSys COM | 0.18% | 0.25% | 0.18% |
Showing the top 250 of 1443 shared holdings by overlap weight.
Frequently Asked Questions
How much do DFAS and VTWO overlap?
DFAS and VTWO overlap by 54.6% of portfolio weight. They share 1443 holdings (DFAS holds 2121 positions and VTWO holds 1952), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFAS and VTWO?
The two portfolios are 54.6% 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 DFAS and VTWO?
The largest positions held by both funds are TTMI, AEIS, MOD, SANM and RMBS. Together the top 10 shared positions account for 5% of the total overlap.
What does DFAS own that VTWO doesn't?
678 positions (43.0% of DFAS) are unique to DFAS, led by AMKR, WCC and ONTO. In the other direction, 509 positions (22.3% of VTWO) are unique to VTWO.