DFSV Fees and Costs — Dimensional US Small Cap Value ETF
Data updated: 2026-09-24
The net expense ratio is 0.30%: a 0.28% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $293K in broker commissions, 0.0064% of average net assets, and portfolio turnover was 9%.
DFSV Fees and Expenses
Annual operating expenses and sales charges of DFSV. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.28% |
| 12b-1 fee | — |
| Other expenses | 0.02% |
| Gross expense ratio | 0.30% |
| Fee waiver | — |
| Net expense ratio | 0.30% |
| 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 |
DFSV Costs Over Time
On $10,000 invested in DFSV, assuming 5% a year before costs, total costs come to $194 over 5 years, cutting the return by 0.32% 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 0.30%) | $32 | $99 | $173 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $5 | $18 |
| Total costs | $32 | $106 | $194 |
| Value after costs | $10,468 | $11,470 | $12,568 |
| Impact on return, per year | 0.32% | 0.32% | 0.32% |
DFSV 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): 0.0064%
- Total broker commissions: $293K
- Bought from dealers (principal trades, not a cost): $2.4B
- Portfolio turnover (prospectus): 9%
- Securities on loan, average value: $285.2M
- Net income from securities lending: $460K (0.010% of average net assets)
DFSV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $70K | 23.87% |
| Virtu Americas LLC | $69K | 23.48% |
| Jefferies LLC | $57K | 19.30% |
| Instinet, LLC | $52K | 17.69% |
| Citigroup Global Markets Inc. | $22K | 7.63% |
| Loop Capital Markets LLC | $10K | 3.33% |
| UBS Securities LLC | $8K | 2.79% |
| Rosenblatt Securities Inc. | $5K | 1.77% |
| JonesTrading Institutional Services LLC | $264 | 0.09% |
| BofA Securities, Inc. | $131 | 0.04% |
DFSV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $1.1B | 46.23% |
| Goldman Sachs & Co. LLC | $427.1M | 17.97% |
| Jane Street Capital, LLC | $367.1M | 15.45% |
| RBC Capital Markets, LLC | $172.6M | 7.26% |
| Citigroup Global Markets Inc. | $107.9M | 4.54% |
| Jefferies LLC | $59.3M | 2.50% |
| ABN Amro Securities (USA) LLC | $59.2M | 2.49% |
| Nomura Securities International, Inc. | $47.6M | 2.00% |
| J.P. Morgan Securities LLC | $29.1M | 1.22% |
| Virtu Americas LLC | $7.9M | 0.33% |
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.