DFLV Fees and Costs — Dimensional US Large Cap Value ETF
Data updated: 2026-09-24
The net expense ratio is 0.21%: a 0.19% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $55K in broker commissions, 0.0016% of average net assets, and portfolio turnover was 5%.
DFLV Fees and Expenses
Annual operating expenses and sales charges of DFLV. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.19% |
| 12b-1 fee | — |
| Other expenses | 0.02% |
| Gross expense ratio | 0.21% |
| Fee waiver | — |
| Net expense ratio | 0.21% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
DFLV Costs Over Time
On $10,000 invested in DFLV, assuming 5% a year before costs, total costs come to $134 over 5 years, cutting the return by 0.22% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.21%) | $22 | $69 | $121 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $22 | $73 | $134 |
| Value after costs | $10,478 | $11,503 | $12,628 |
| Impact on return, per year | 0.22% | 0.22% | 0.22% |
DFLV Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0016%
- Total broker commissions: $55K
- Bought from dealers (principal trades, not a cost): $2.1B
- Portfolio turnover (prospectus): 5%
- Securities on loan, average value: $53.2M
- Net income from securities lending: $73K (0.002% of average net assets)
DFLV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $13K | 23.26% |
| Virtu Americas LLC | $12K | 21.38% |
| Instinet, LLC | $12K | 21.26% |
| Goldman Sachs & Co. LLC | $11K | 19.42% |
| Citigroup Global Markets Inc. | $3K | 6.15% |
| Loop Capital Markets LLC | $3K | 5.19% |
| UBS Securities LLC | $898 | 1.62% |
| Rosenblatt Securities Inc. | $552 | 1.00% |
| BofA Securities, Inc. | $398 | 0.72% |
DFLV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $703.4M | 33.99% |
| RBC Capital Markets, LLC | $407.1M | 19.68% |
| Jane Street Capital, LLC | $308.2M | 14.89% |
| Jefferies LLC | $176.3M | 8.52% |
| Citigroup Global Markets Inc. | $168.8M | 8.16% |
| Goldman Sachs & Co. LLC | $133.3M | 6.44% |
| Virtu Americas LLC | $81.1M | 3.92% |
| J.P. Morgan Securities LLC | $57.9M | 2.80% |
| ABN Amro Securities (USA) LLC | $33.1M | 1.60% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.