DFEMvsVWOETF Comparison
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Dimensional Emerging Markets Core Equity 2 ETF (DFEM) and Vanguard FTSE Emerging Markets ETF (VWO) belong to the same industry segment: EM Blended Cap. Both ETFs have the same top 3 sector exposures: Technology, Finance and Non-Energy Materials. DFEM is more expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.06% for VWO. DFEM is up 16.61% year-to-date (YTD) with +$1.12B in YTD flows. VWO performs worse with 8.48% YTD performance, and +$8.68B in YTD flows. Run a side-by-side ETF comparison of DFEM and VWO below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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DFEM vs VWO performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFEM VWO | -2.90%-1.76% | -2.67%-1.22% | +16.61%+8.48% | +19.96%+9.09% | +76.03%+60.43% | n/a+30.29% |
| Flows | DFEM VWO | +$164M+$400M | +$426M+$2.72B | +$1.12B+$8.68B | +$1.59B+$12.40B | +$4.16B+$17.72B | -+$27.05B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFEM VWO | +20.68%+13.79% | +20.94%+15.98% | +16.47%+14.49% | n/a+15.23% |
| Max drawdown | DFEM VWO | -7.60%-5.10% | -12.93%-11.04% | -16.42%-15.75% | n/a-29.92% |
| Max drawdown duration | DFEM VWO | 27d24d | 115d50d | 244d240d | n/a1071d |
Trading data
DFEM | VWO | |
Last sale 10/16/2026 at 1:30 PM | $37.85 | $58.03 |
| Previous close 10/15/2026 | $38.46 | $58.79 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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DFEM
is actively managed and doesn’t replicate an indexDFEM | VWO | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
DFEM | VWO | |
|---|---|---|
| Last price | $37.85 | $58.03 |
| 1D performance | -1.59% | -1.29% |
| AuM | $9.23 B | $122.57 B |
| E/R | 0.39% | 0.06% |
Characteristics
DFEM | VWO | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Dimensional | Vanguard |
| Benchmark | - | FTSE Emerging Markets All Cap China A Inclusion Index |
| N° of holdings | 6507 | 4589 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 26, 2022 | March 4, 2005 |
| ESG | No | No |
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Exposure
Countries
DFEM
Taiwan
28.02%
Republic of Korea
18.22%
China
17.71%
India
12.83%
Other
23.21%
VWO
Taiwan
31.08%
China
22.97%
India
15.69%
Other
30.25%
Sectors
DFEM
Technology
37.51%
Finance
17.97%
Non-Energy Materi.
10.67%
Industrials
9.38%
Other
24.47%
VWO
Technology
33.04%
Finance
21.34%
Non-Energy Materi.
9.05%
Other
36.57%
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Diversification
DFEM
Total weight of top 15 holdings out of 15
25.44%
VWO
Total weight of top 15 holdings out of 15
28.36%
Top 15 holdings
Data as of August 31, 2026
DFEM
Taiwan Semiconductor Manufacturing Co., Ltd.
9.92%
Samsung Electronics Co., Ltd.
4.22%
SK hynix, Inc.
4.05%
Tencent Holdings Ltd.
1.78%
Alibaba Group Holding Ltd.
0.75%
China Construction Bank Corp.
0.73%
Samsung Electronics Co., Ltd.
0.50%
Unimicron Technology Corp.
0.47%
Samsung Electro-Mechanics Co., Ltd.
0.45%
Hon Hai Precision Industry Co., Ltd.
0.45%
Ping An Insurance (Group) Co. of China Ltd.
0.44%
MediaTek, Inc.
0.43%
ICICI Bank Ltd.
0.42%
MPI Corp.
0.41%
Lenovo Group Ltd.
0.41%
VWO
Taiwan Semiconductor Manufacturing Co., Ltd.
14.67%
Tencent Holdings Ltd.
2.89%
Alibaba Group Holding Ltd.
2.18%
MediaTek, Inc.
1.46%
Delta Electronics, Inc.
0.90%
China Construction Bank Corp.
0.86%
Hon Hai Precision Industry Co., Ltd.
0.77%
Reliance Industries Ltd.
0.72%
HDFC Bank Ltd.
0.68%
ICICI Bank Ltd.
0.65%
Industrial & Commercial Bank of China Ltd.
0.62%
PDD Holdings, Inc.
0.52%
ASE Technology Holding Co., Ltd.
0.49%
Xiaomi Corp.
0.49%
Bharti Airtel Ltd.
0.46%
Frequently asked questions about DFEM and VWO
How have the DFEM and VWO ETFs performed in 2026?
As of October 15, 2026, DFEM is up 16.61% year-to-date (YTD), while VWO has returned 8.48%. That puts DFEM better performer ahead so far this year.
Which ETF is attracting more investor money: DFEM or VWO?
Year-to-date, the DFEM ETF saw +$1.12B in flows, compared to +$8.68B for VWO.
Which ETF is more volatile: DFEM or VWO?
Over the past year, DFEM had a volatility of 20.94%, while VWO experienced 15.98%.
Which ETF is bigger: DFEM or VWO?
As of October 15, 2026, DFEM holds $9.23 B in assets under management (AUM), while VWO manages $122.57 B.
What sectors do the DFEM and VWO ETFs invest in?
DFEM leans toward sectors like Technology, Finance and Non-Energy Materials. Meanwhile, VWO focuses on Technology, Finance and Non-Energy Materials.
What are the top holdings of the DFEM ETF and VWO ETF?
DFEM top holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd. and SK hynix, Inc.. VWO holds in its top three: Taiwan Semiconductor Manufacturing Co., Ltd., Tencent Holdings Ltd. and Alibaba Group Holding Ltd..
Which ETF is more diversified: DFEM or VWO?
DFEM holds 6761 securities with 25.44% of its assets in the top 15. VWO has 4953 securities and a top 15 weight of 28.36%.
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Latest news about DFEM & VWO
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