🤝 BFF Take
Both Are Excellent. AVUV Has a Slight Edge on Profitability Tilt.
AVUV and DFSV both target the small cap value premium: the long-documented tendency of small, cheap stocks to outperform large growth stocks over time. AVUV is run by Avantis, founded by former Dimensional employees who designed its methodology. DFSV is Dimensional's own ETF vehicle. AVUV charges 0.25%; DFSV charges 0.22%. Both are actively managed in the sense that they apply factor screens rather than tracking a fixed index, but both are rules-based and low-turnover. AVUV applies a slightly stronger profitability screen, tilting toward profitable small-value companies and away from distressed deep-value names. DFSV weights more toward price-to-book value. Empirically, profitability combined with value has produced stronger risk-adjusted returns than value alone. AVUV's edge comes from this combined factor exposure. Both funds belong in any serious small-cap value allocation; AVUV's profitability tilt gives it a marginal advantage on a risk-adjusted basis.
📋 Quick Takeaways
📐AVUV: 0.25% ER, run by ex-Dimensional founders. DFSV: 0.22% ER, run by Dimensional. Same intellectual lineage.
🔬AVUV adds a stronger profitability screen on top of small cap value. DFSV weights more heavily on price-to-book.
🎯Either fund is a strong choice for small cap value factor exposure. AVUV's combined value + profitability tilt has a slight research edge.
📊 Data-Based Take: AVUV has the lower fee
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
✓
Reviewed by a CFA® Charterholder · Data updated Jun 2026 · Educational only, not financial advice
AVUV
Avantis US Small Cap Value ETF
DFSV
Dimensional US Small Cap Value ETF
📋 AVUV vs DFSV — Key Facts Side by Side
| Metric |
AVUV |
DFSV |
| Fund Name |
Avantis US Small Cap Value ETF |
Dimensional US Small Cap Value ETF |
| Issuer |
Avantis |
Dimensional |
| Tracks Index |
Active (factor-based) |
Active (factor-based) |
| Expense Ratio |
0.25% |
0.22% ✓ |
| Cost per $10K/yr |
$25.00 |
$22.00 |
| AUM |
$16B |
$10B |
| Holdings |
700 |
800 |
| Inception |
2019 |
2022 |
| 1-Year Return |
+14.20% |
+13.80% |
| 3-Year Return |
+10.10% |
— |
| 5-Year Return |
+14.80% |
— |
| Avg Bid-Ask Spread |
0.02% |
0.03% |
Data from ETF BFF database. Returns are annualised. Not investment advice.
📊 AVUV vs DFSV — Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Should You Buy AVUV or DFSV?
Choose if...
AVUV
- You already use Avantis and prefer staying within their fund family
Choose if...
DFSV
- You want the lowest fees — saves ~$3/yr per $10K vs AVUV
- You already use Dimensional and prefer staying within their fund family
📧 Free Weekly Newsletter
Get smarter about ETFs — one concept a week, free forever
The ETF BFF newsletter breaks down one ETF concept per week — clear, jargon-free, and actually useful.
✅ You're in! Check your inbox for your first issue.
❓ AVUV vs DFSV — Frequently Asked Questions
What is the difference between AVUV and DFSV?
Both AVUV and DFSV target the small cap value factor, but they apply different screens. AVUV applies a combined profitability-plus-value screen, tilting toward profitable small companies trading at low valuations. DFSV applies a more value-centric approach weighted toward low price-to-book ratios, consistent with Dimensional's long-standing methodology. AVUV was founded by former Dimensional portfolio managers who believe adding a profitability screen improves the premium capture.
Is AVUV actively managed?
AVUV is technically actively managed: it does not track a fixed index. However, it is rules-based and systematic, applying consistent factor screens to build a diversified portfolio of small cap value stocks. The active management in AVUV is about factor implementation, not stock-picking. Turnover is relatively low compared to traditional active funds, and the methodology is transparent.
Why do factor investors prefer AVUV or DFSV over VBR or IJS?
VBR and IJS track conventional small cap value indices that include many large-cap value stocks (companies too large to be truly small cap) and do not screen for profitability. AVUV and DFSV apply purer, deeper value screens and exclude unprofitable companies, which academic research suggests improves factor exposure. The small cap value premium is better captured by funds with intentional factor design than by broad index funds labeled "small cap value."
How much of my portfolio should be in small cap value?
Factor investors typically allocate 10-30% of their equity portfolio to small cap value, depending on their belief in the factor premium and risk tolerance. Small cap value can underperform broad markets for extended periods. 2010-2020 was difficult before delivering strong outperformance. A 10-15% allocation in AVUV or DFSV alongside a core VTI or VOO position is a common approach among factor-tilted Boglehead-style investors.
New to ETF investing? See answers to the most common ETF questions →
📄 AVUV & DFSV Fact Sheets
ℹ️ Data shown is for educational purposes and may not reflect the most current figures. Returns are trailing price-based and exclude dividend reinvestment. Past performance does not guarantee future results. ETF BFF is not a licensed financial advisor — this is not personalized financial advice.