- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 6300 Bee Cave Road, Building One Austin TX United States of America 78746
- IPO Date
- Jun 14, 2021
- Business
- Dimensional U.S. Small Cap ETF (DFAS), issued by Dimensional ETF Trust and managed by Dimensional Fund Advisors L.P., is an actively managed exchange-traded fund that seeks long-term capital appreciation while minimizing federal income taxes on returns through investments in a broad and diverse group of U.S. small cap companies. The ETF employs a market capitalization weighted approach, actively selecting securities based on multiple factors including profitability, relative price, momentum, liquidity, and investment characteristics; it holds over 2,000 small-cap stocks, with emphasis on lower relative price stocks and flexibility to adjust exposures for tax efficiency. DFAS forms part of Dimensional's suite of systematic equity ETFs targeting U.S. markets, serving institutional and retail investors via financial advisors seeking small blend exposure.
Launched on June 14, 2021, following the conversion of Dimensional's corresponding U.S. tax-managed mutual fund in the industry's largest such transaction involving approximately $30 billion across four funds including DFAS, the ETF trades on NYSE Arca with assets under management exceeding $11 billion, a 0.27% expense ratio, and quarterly dividend distributions. Dimensional Fund Advisors L.P., headquartered in Austin, Texas with founding in 1981, provides investment management across equity and fixed income products including mutual funds, ETFs, separately managed accounts, and model portfolios; the firm operates globally through 15 offices in the U.S., Canada, U.K., Germany, Netherlands, Australia, Singapore, and Japan.
Recent developments include Dimensional's January 2025 product partnership with Prudential Financial Inc. and Fiduciary Exchange LLC (FIDx) to deliver protected lifetime income strategies via managed accounts using Dimensional's systematic approaches, extending prior collaborations on indexed annuities; additionally, in March 2025, Dimensional renewed its transfer agency agreement with SS&C Global Investor and Distribution Services for enhanced servicing of U.S. and U.K. funds. The firm continues expanding its active transparent ETF lineup, building on the 2021 mutual fund conversions to bolster tax-efficient strategies amid industry shifts toward ETFs. DFAS remains focused on U.S. small-cap equities without reported reorganizations or name changes.