ETF Evaluator:
U.S. Large Company Portfolio ETF (DLCU)
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(as of Sep 04)
Best Performing in Large Blend Over the Last Year
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| 31.9% | Astoria US Equal Weight Quality KingsETF (ROE) |
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ETF Details
U.S. Large Company Portfolio ETF Overview
U.S. Large Company Portfolio ETF (DLCU) is a passively managed U.S. Equity Large Blend exchange-traded fund (ETF). Dimensional Fund Advisors launched the ETF in 2026.
The investment seeks to approximate the total investment return of the S&P 500® Index.
The fund generally invests in the stocks that comprise the S&P 500® Index in approximately the proportions they are represented in the S&P 500® Index. Under normal market conditions, at least 95% of the fund's net assets will be invested in the stocks that comprise the S&P 500® Index. The fund may purchase or sell futures contracts and options on futures contracts for U.S. equity securities and indices, to increase or decrease equity market exposure based on actual or expected cash inflows to or outflows from the Portfolio.
About U.S. Large Company Portfolio ETF (DLCU)
There are 3 members of the management team with an average tenure of 10.51 years: Jed Fogdall (2012), Joel Schneider (2019) and Joseph Hohn (2017). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. U.S. Large Company Portfolio ETF has 509 securities in its portfolio. The top 10 holdings constitute 37.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
U.S. Large Company Portfolio ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. U.S. Large Company Portfolio ETF has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.6% There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). U.S. Large Company Portfolio ETF has 1.0% of the portfolio in cash.
Assets Under Management
The fund has $3 million in total assets, which is below the $14 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DLCU Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The U.S. Large Company Portfolio ETF expense ratio is low compared to funds in the Large Blend category. U.S. Large Company Portfolio ETF has an expense ratio of 0.06%, which is 86% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. U.S. Large Company Portfolio ETF has a portfolio turnover rate of 5%, which indicates that it holds its assets around / 0.2 years. By way of comparison, the average portfolio turnover is 155% for the Large Blend category.
Recently, in the month of August 2026, U.S. Large Company Portfolio ETF returned 2.7%, which earned it a grade of C, as the Large Blend category had an average return of 2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
U.S. Large Company Portfolio ETF has a trailing yield of 0.00%, which is below the 1.22% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
U.S. Large Company Portfolio ETF Grades
Year to date, the ETF has returned 13.1%, 0.9 percentage points better than the category, which translates into a grade of C. The fund has returned 20.3% over the past year (grade of B), 21.0% over the past three years (grade of B) and 12.7% per year over the past five years (grade of B) and 15.3% per year over the past 10 years (grade of B).
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DLCU Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DLCU Return (NAV) | 2.7% | 1.7% | 20.3% | 21.0% | 12.7% | 15.3% |
| DLCU Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| Large Blend Avg | 2.4% | 1.7% | 18.1% | 19.0% | 11.1% | 13.9% |
| DLCU Grade (NAV) | C | D | B | B | B | B |
| +/- Category (NAV) | 0.3% | -0.0% | 2.3% | 1.9% | 1.6% | 1.4% |
| DLCU Tax-Cost Ratio | na | na | na | na | na | na |
DLCU Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DLCU Return (NAV) | 13.1% | 17.8% | 24.9% | 26.3% | -18.2% | 28.6% | 18.4% | 31.4% | -4.4% | 21.7% | 11.9% |
| DLCU Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Large Blend Avg | 12.2% | 15.4% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| DLCU Grade (NAV) | C | B | B | B | C | B | C | B | C | C | C |
| +/- Category | 0.9% | 2.4% | 3.0% | 3.4% | -1.1% | 1.7% | 0.0% | 1.8% | 0.7% | 0.2% | 0.5% |
| Risk Measures | |
| Beta: | 1.00 |
| R-Squared: | 100% |
| Standard Deviation: | 12.9% |
| Category Risk Index: | 0.97 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.06 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 14,636 Mil |
| Share Class Assets: | $ 4 Mil |
| Turnover: | 5.0% |
| Expense Ratio: | 0.06% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 14.5 years | |||
| Average Tenure: 10.5 years | |||
| Managers (Year): Fogdall Jed (2012), Hohn Joseph (2017), Schneider Joel (2019) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 509 |
| % in Top 10 Holdings: | 37.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 98.6% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Dimensional Fund Advisors |
| Phone Number: | 888-576-1167 |
| Website: | www.dimensional.com |
| Inception Date: | August 4, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.06% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.42% |
