ETF Evaluator:
Dimensional US Real Estate ETF ()
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(as of Aug 26)
Best Performing in Real Estate Over the Last Year
| 46.1% | Global X Data Center & Dgtl Infrs ETF (DTCR) |
| 31.7% | Invesco KBW Premium Yield Eq REIT ETF (KBWY) |
| 25.7% | State Street® SPDR® Dow Jones® REIT ETF (RWR) |
| 25.5% | Janus Henderson US Real Estate ETF (JRE) |
| 25.3% | ALPS REIT Dividend Dogs ETF (RDOG) |
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ETF Details
Dimensional US Real Estate ETF Overview
Dimensional US Real Estate ETF (DFAR) is an actively managed Sector Equity Real Estate exchange-traded fund (ETF). Dimensional Fund Advisors launched the ETF in 2022.
The investment seeks to achieve long-term capital appreciation.
The portfolio, using a market capitalization weighted approach, will concentrate investments in readily marketable equity securities of companies whose principal activities include ownership, management, development, construction, or sale of residential, commercial or industrial real estate. The Portfolio will principally invest in equity securities of companies in certain REITs and companies engaged in residential construction and firms, except partnerships, whose principal business is to develop commercial property.
About Dimensional US Real Estate ETF (DFAR)
There are 4 members of the management team with an average tenure of 3.94 years: Jed Fogdall (2022), Allen Pu (2024), Joseph Hohn (2022) and John Hertzer (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and DJ US Select REIT TR USD index with a weighting of 100%. Dimensional US Real Estate ETF has 123 securities in its portfolio. The top 10 holdings constitute 48.4% 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.
Dimensional US Real Estate ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Dimensional US Real Estate ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.0% There is 0.0% 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). Dimensional US Real Estate ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $1 billion average for the Real Estate 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.
DFAR 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 Dimensional US Real Estate ETF expense ratio is low compared to funds in the Real Estate category. Dimensional US Real Estate ETF has an expense ratio of 0.19%, which is 61% 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. Dimensional US Real Estate ETF has a portfolio turnover rate of 7%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 69% for the Real Estate category.
Recently, in the month of July 2026, Dimensional US Real Estate ETF returned 2.3%, which earned it a grade of B, as the Real Estate category had an average return of 1.2%. 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.
Dimensional US Real Estate ETF has a trailing yield of 2.63%, which is below the 4.13% category average.
The fund normally distributes its income quarterly 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.
Dimensional US Real Estate ETF Grades
Year to date, the ETF has returned 17.7%, 3.0 percentage points better than the category, which translates into a grade of B. The fund has returned 19.3% over the past year (grade of C) and 10.0% over the past three years (grade of B).
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DFAR Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DFAR Return (NAV) | 2.3% | 4.3% | 19.3% | 10.0% | na | na |
| DFAR Return (Price) | 2.4% | 4.3% | 19.4% | 10.0% | na | na |
| NAV +/- Price Return | -0.103% | -0.051% | -0.040% | -0.003% | na | na |
| Real Estate Avg | 1.2% | 3.6% | 17.3% | 9.2% | 2.8% | 4.3% |
| DFAR Grade (NAV) | B | C | C | B | na | na |
| +/- Category (NAV) | 1.1% | 0.7% | 2.0% | 0.8% | na | na |
| DFAR Tax-Cost Ratio | na | na | 1.2% | 1.2% | na | na |
DFAR Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DFAR Return (NAV) | 17.7% | 1.4% | 5.3% | 11.0% | na | na | na | na | na | na | na |
| DFAR Return (Price) | 17.8% | 1.3% | 5.3% | 11.0% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.006% | -0.080% | -0.011% | 0.002% | na | na | na | na | na | na | na |
| Real Estate Avg | 14.7% | 2.2% | 5.1% | 11.8% | -25.5% | 37.6% | -8.2% | 26.9% | -4.5% | 8.2% | 10.1% |
| DFAR Grade (NAV) | B | D | C | D | na | na | na | na | na | na | na |
| +/- Category | 3.0% | -0.8% | 0.2% | -0.8% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.98 |
| R-Squared: | 55% |
| Standard Deviation: | 16.6% |
| Category Risk Index: | 0.97 |
| Category Risk Rating: | Average |
| Total Risk Index: | 1.35 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 2.6% |
| Total Assets: | $ 1,780 Mil |
| Share Class Assets: | $ 1,780 Mil |
| Turnover: | 7.0% |
| Expense Ratio: | 0.19% |
| Index Fund: | No |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 4.4 years | |||
| Average Tenure: 3.9 years | |||
| Managers (Year): Fogdall Jed (2022), Hohn Joseph (2022), Hertzer John (2022), Pu Allen (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 123 |
| % in Top 10 Holdings: | 48.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 100.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Dimensional Fund Advisors |
| Phone Number: | 512-306-7400 |
| Website: | https://www.dimensional.com |
| Inception Date: | February 23, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.19% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.49% |
