U.S. Micro Cap Portfolio ETF

Frequently Asked Questions About DFMC

What does DFMC invest in?

The DFMC fund is designed to offer investors an avenue into the American micro-capitalization market segment. Through an active management approach, it systematically combines rigorous research, strategic portfolio design, ongoing oversight, and efficient trading practices to achieve its investment goals. The fund's adviser classifies micro-cap companies using a specific two-part definition: either their market capitalization falls within the lowest five percent of the overall selection universe, or they are smaller than the 1,500th largest company in the United States. The higher of these two market capitalization thresholds is consistently applied. Although the portfolio generally employs a market capitalization-weighted structure, the investment adviser retains the discretion to overweight certain securities. This emphasis is placed on companies exhibiting smaller overall size, attractive relative valuations (meaning lower prices compared to intrinsic value), and superior profitability. Relative valuation is typically gauged using metrics like price-to-book value, while profitability assessments consider earnings in relation to either book value or total assets. Moreover, the adviser possesses complete latitude to modify the weighting of individual securities. These adjustments can be influenced by various factors, including stock price momentum, short-term price reversals, and specific investment characteristic ratios, such as the ratio of asset changes to total assets.

What is the expense ratio of DFMC?

U.S. Micro Cap Portfolio ETF (DFMC) charges an expense ratio of 0.43%. This is the annual fee deducted from fund assets to cover management and operations.

How big is DFMC?

U.S. Micro Cap Portfolio ETF (DFMC) manages $8.06B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is DFMC actively managed or an index fund?

DFMC is actively managed — the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (DFMC's is 0.43%) in exchange for the discretion to over- or under-weight positions.

When was DFMC launched?

U.S. Micro Cap Portfolio ETF (DFMC) launched in December 1981 and is managed by Dimensional.

How has DFMC performed?

DFMC's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.