AVUV vs VBR vs DFSV: Best Small-Cap Value ETF in 2026?
VBR is passive at 0.07%. AVUV actively tilts for value and profitability at 0.25%. DFSV applies Dimensional's deeper factor methodology at 0.30%. The question is whether active factor exposure is worth 18-23 basis points.
AVUV vs VBR vs DFSV: Side-by-Side
| AVUV | VBR | DFSV | |
|---|---|---|---|
| Full name | Avantis US Small Cap Value ETF | Vanguard Small-Cap Value ETF | Dimensional US Small Cap Value ETF |
| Issuer | Avantis | Vanguard | Dimensional Fund Advisors |
| Expense ratio | 0.25% | 0.07% | 0.30% |
| AUM | $15B | $30B | $5B |
| Holdings | 730 | 840 | 800 |
| Approach | Active factor-based | Passive index | Active factor-based |
| Value tilt | Strong (HML) | Moderate (index-defined) | Strong (HML + profitability) |
| Profitability screen | Yes (RMW) | No | Yes (RMW) |
| Inception | 2019 | 2004 | 2022 |
| 1-year return | +11.4% | +9.6% | +11.8% |
| 5-year return | +12.8% | +10.9% | N/A* (launched 2022) |
*DFSV launched in 2022 — insufficient history for 5-year returns. Past performance does not guarantee future results.
AVUV for factor investors. VBR for passive investors. DFSV for Dimensional believers who want the deepest factor tilt. VBR tracks the CRSP US Small Cap Value Index — a passive, market-cap-weighted index that defines "value" using price-to-book, forward earnings, historical earnings, dividends, and sales ratios. It holds 840 stocks at 0.07%, the cheapest of the three. AVUV applies Fama-French factor research to actively overweight stocks scoring highest on both value (HML factor) and profitability (RMW factor). Its active methodology allows it to rebalance continuously rather than waiting for quarterly index reconstitution. AVUV has outperformed VBR by roughly 2% per year since its 2019 launch. DFSV applies Dimensional's version of the same factor methodology, which is generally considered slightly more aggressive in factor loading than AVUV. DFSV is the newest of the three (2022) and has the least track record as an ETF. The honest summary: VBR is the right choice if you want passive exposure and believe active management does not justify its cost. AVUV or DFSV are the right choices if you specifically believe in active factor investing and are prepared to accept higher fees and active management risk. All three substantially outperform the Russell 2000 over most periods by avoiding unprofitable companies. Past performance does not guarantee future results.
Who Each Fund Is Built For
Best for
- Factor investors who want value + profitability tilt
- Best track record of the three active funds
- Largest AUM among active factor options
- Active rebalancing vs quarterly index reconstitution
Best for
- Passive investors who want small-cap value exposure
- Lowest cost at 0.07%
- Longest track record (since 2004)
- Vanguard ecosystem investors
Best for
- Investors who prefer Dimensional's factor methodology
- Deepest factor tilt of the three
- Factor investors who previously used DFA mutual funds
- Available without advisor requirement (ETF structure)