DFAX vs SPDW: Holdings Overlap
DFAXDimensional World ex. U.S. Core Equity 2 ETF
Dimensional · 10527 holdings · $12.0B · as of 2026-04-30
SPDWState Street® SPDR® Portfolio Developed World ex-US ETF
State Street (SPDR) · 2342 holdings · $40.5B · as of 2026-08-04
Holdings snapshots are 96 days apart (DFAX: 2026-04-30, SPDW: 2026-08-04). 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 DFAX and SPDW?
Dimensional World ex. U.S. Core Equity 2 ETF (DFAX, by Dimensional) holds 10527 positions; State Street® SPDR® Portfolio Developed World ex-US ETF (SPDW, by State Street (SPDR)) holds 2342. They have 1743 holdings in common, and by portfolio weight the two funds are 44.9% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 44.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1743DFAX holds 10527 · SPDW holds 2342
- Weight in Shared Holdings
- DFAX 58%·SPDW 91%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 DFAX
8784 of 10527 positions (41.9% of the fund) are not held by SPDW. Showing the top 30 by weight.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DFAX | +3.5% | +17.0% | +29.0% | +20.1% | — | — | 2.27% |
| SPDW | +3.1% | +17.9% | +30.1% | +19.9% | +10.1% | +10.3% | 2.94% |
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 DFAX vs SPDW →
Shared Holdings(1743)
The top 10 shared positions account for 8% of the overlap, led by 000660, RY and TTE.
 000660SK hynix Inc | 0.59% | 1.68% | 0.59% |
|---|---|---|---|
 RYGovernment Long Bond 1.2x Strategy Fund | 0.55% | 0.87% | 0.55% |
 TTETotalEnergies SE EUR2.5 | 0.61% | 0.51% | 0.51% |
 7203Toyota Motor Corp. NPV | 0.40% | 0.67% | 0.40% |
 NESNNestle SA (Registered) | 0.36% | 0.76% | 0.36% |
 ROPRoche Holding AG | 0.30% | 0.93% | 0.30% |
 DTEDeutsche Telekom AG (Registered) | 0.28% | 0.34% | 0.28% |
 SMSNRUBSamsung Electronics Co Ltd | 0.27% | 2.29% | 0.27% |
 6857Advantest Corp. NPV | 0.24% | 0.48% | 0.24% |
 BHPBHP Group Ltd. | 0.24% | 0.66% | 0.24% |
 AZNAstraZeneca PLC ORD USD0.25 | 0.23% | 0.73% | 0.23% |
 IFXInfineon Technologies AG | 0.23% | 0.26% | 0.23% |
 8306Mitsubishi UFJ Financial Group Inc. NPV | 0.22% | 0.81% | 0.22% |
 6501Hitachi Ltd. NPV | 0.22% | 0.47% | 0.22% |
 ENRSiemens Energy AG | 0.22% | 0.37% | 0.22% |
 AEMAgnico Eagle Mines Ltd | 0.21% | 0.26% | 0.21% |
 SUSuncor Energy Inc | 0.26% | 0.21% | 0.21% |
 CNQCanadian Natural Resources Ltd | 0.21% | 0.28% | 0.21% |
 TDThe Toronto-Dominion Bank COM NEW | 0.21% | 0.59% | 0.21% |
 UCGUniCredit SpA | 0.20% | 0.47% | 0.20% |
 ABBNABB Ltd. (Registered) | 0.20% | 0.48% | 0.20% |
 RR-Rolls-Royce Holdings PLC | 0.19% | 0.54% | 0.19% |
 MCLVMH Moet Hennessy Louis Vuitton SE | 0.19% | 0.41% | 0.19% |
 ENIEni SpA | 0.20% | 0.18% | 0.18% |
 RHMRheinmetall AG | 0.22% | 0.18% | 0.18% |
Showing the top 250 of 1743 shared holdings by overlap weight.
Frequently Asked Questions
How much do DFAX and SPDW overlap?
DFAX and SPDW overlap by 44.9% of portfolio weight. They share 1743 holdings (DFAX holds 10527 positions and SPDW holds 2342), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFAX and SPDW?
The two portfolios are 44.9% 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 DFAX and SPDW?
The largest positions held by both funds are 000660, RY, TTE, 7203 and NESN. Together the top 10 shared positions account for 8% of the total overlap.
What does DFAX own that SPDW doesn't?
8784 positions (41.9% of DFAX) are unique to DFAX, led by TSMWF, TSM and NVS. In the other direction, 599 positions (7.9% of SPDW) are unique to SPDW.