DFAX vs VEU: Holdings Overlap
DFAXDimensional World ex. U.S. Core Equity 2 ETF
Dimensional · 10527 holdings · $12.0B · as of 2026-04-30
VEUVanguard FTSE All-world Ex-us Index Fund
Vanguard · 3855 holdings · $69.8B · as of 2026-04-30
How similar are DFAX and VEU?
Dimensional World ex. U.S. Core Equity 2 ETF (DFAX, by Dimensional) holds 10527 positions; Vanguard FTSE All-world Ex-us Index Fund (VEU, by Vanguard) holds 3855. They have 3063 holdings in common, and by portfolio weight the two funds are 54.3% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 54.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 3063DFAX holds 10527 · VEU holds 3855
- Weight in Shared Holdings
- DFAX 74%·VEU 92%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
7464 of 10527 positions (25.7% of the fund) are not held by VEU. 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% |
| VEU | +2.8% | +16.6% | +28.4% | +19.2% | +9.6% | +9.9% | 2.48% |
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 VEU →
Shared Holdings(3063)
The top 10 shared positions account for 11% of the overlap, led by TSMWF, 005930 and 000660.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 1.45% | 4.28% | 1.45% |
|---|---|---|---|
 005930Samsung Electronics Co Ltd | 1.12% | 1.81% | 1.12% |
 000660SK hynix Inc | 0.59% | 1.23% | 0.59% |
 RYGovernment Long Bond 1.2x Strategy Fund | 0.55% | 0.64% | 0.55% |
 700Tencent Holdings Ltd. | 0.50% | 0.96% | 0.50% |
 TTETotalEnergies SE EUR2.5 | 0.61% | 0.43% | 0.43% |
 7203Toyota Motor Corp. NPV | 0.40% | 0.52% | 0.40% |
 NESNNestle SA (Registered) | 0.36% | 0.66% | 0.36% |
 ROPRoche Holding AG | 0.30% | 0.73% | 0.30% |
 DTEDeutsche Telekom AG (Registered) | 0.28% | 0.28% | 0.28% |
 6857Advantest Corp. NPV | 0.24% | 0.34% | 0.24% |
 BHPBHP Group Ltd. | 0.24% | 0.49% | 0.24% |
 AZNAstraZeneca PLC ORD USD0.25 | 0.23% | 0.72% | 0.23% |
 9988Alibaba Group Holding Ltd | 0.23% | 0.75% | 0.23% |
 IFXInfineon Technologies AG | 0.23% | 0.22% | 0.22% |
 8306Mitsubishi UFJ Financial Group Inc. NPV | 0.22% | 0.50% | 0.22% |
 6501Hitachi Ltd. NPV | 0.22% | 0.35% | 0.22% |
 ENRSiemens Energy AG | 0.22% | 0.40% | 0.22% |
 AEMAgnico Eagle Mines Ltd | 0.21% | 0.24% | 0.21% |
 CNQCanadian Natural Resources Ltd | 0.21% | 0.25% | 0.21% |
 SUSuncor Energy Inc | 0.26% | 0.21% | 0.21% |
 TDThe Toronto-Dominion Bank COM NEW | 0.21% | 0.46% | 0.21% |
 UCGUniCredit SpA | 0.20% | 0.30% | 0.20% |
 ABBNABB Ltd. (Registered) | 0.20% | 0.40% | 0.20% |
 C6TChina Construction Bank Corp | 0.19% | 0.25% | 0.19% |
Showing the top 250 of 3063 shared holdings by overlap weight.
Frequently Asked Questions
How much do DFAX and VEU overlap?
DFAX and VEU overlap by 54.3% of portfolio weight. They share 3063 holdings (DFAX holds 10527 positions and VEU holds 3855), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFAX and VEU?
The two portfolios are 54.3% 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 VEU?
The largest positions held by both funds are TSMWF, 005930, 000660, RY and 700. Together the top 10 shared positions account for 11% of the total overlap.
What does DFAX own that VEU doesn't?
7464 positions (25.7% of DFAX) are unique to DFAX, led by NVS, ASML and SHEL. In the other direction, 792 positions (6.6% of VEU) are unique to VEU.