Dimensional US Large Cap Core Equity Market ETF (DFAL) Valuation
DFAL valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.2 trailing earnings
- Forward P/E
- 18.9 analyst estimates
- Price / sales
- 3.26
- Price / book
- 5.20
- EV / EBITDA
- 16.5
- Earnings yield
- 3.96% inverse of P/E
- Dividend yield
- 1.10% of the holdings
- Return on equity
- 20.6% combined
- Net margin
- 12.9% combined
- Beta
- 1.14 weighted, vs S&P 500
DFAL valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| DFAL | 25.2 | 18.9 | 3.26 | 5.20 | 1.10% | 20.6% | 12.9% | 2.4% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
DFAL valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 37.1% | 31.5 | 22.3 | 8.35 | 11.79 | 0.57% | 37.4% |
| Financial Services | 12.7% | 15.6 | 14.3 | 3.23 | 2.41 | 1.47% | 15.4% |
| Healthcare | 9.9% | 38.0 | 17.4 | 1.66 | 5.35 | 1.47% | 14.1% |
| Consumer Cyclical | 9.2% | 28.0 | 21.6 | 2.41 | 5.92 | 0.77% | 21.1% |
| Communication Services | 8.6% | 18.1 | 18.6 | 4.50 | 4.77 | 0.81% | 26.4% |
| Industrials | 7.7% | 27.7 | 21.0 | 2.68 | 6.07 | 1.22% | 21.9% |
| Consumer Defensive | 4.9% | 29.4 | 20.8 | 1.46 | 6.27 | 2.34% | 21.3% |
| Energy | 4.7% | 19.5 | 12.7 | 1.88 | 2.55 | 2.17% | 13.1% |
| Utilities | 2.1% | 19.4 | 15.3 | 2.66 | 2.08 | 2.98% | 10.7% |
| Basic Materials | 2.1% | 27.8 | 16.6 | 2.80 | 3.76 | 1.35% | 13.5% |
| Real Estate | 0.2% | 32.5 | 20.2 | 1.53 | 6.24 | 1.48% | 19.2% |
DFAL earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How DFAL weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
DFAL largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 6.89% | 27.1 | 24.9 | 17.1 | 0.47% | 6.50% |
| AAPL | Apple Inc. | 6.68% | 39.4 | 35.2 | 10.7 | 0.31% | 4.33% |
| MSFT | Microsoft Corporation | 5.43% | 29.5 | 25.1 | 11.8 | 0.74% | 4.71% |
| AMZN | Amazon.com, Inc. | 3.68% | 20.1 | 23.6 | 3.5 | — | 4.67% |
| GOOGL | Alphabet Inc. | 2.58% | 17.1 | 22.8 | 9.3 | 0.26% | 3.86% |
| AVGO | Broadcom Inc. | 2.34% | 43.3 | 19.4 | 17.6 | 0.79% | 1.38% |
| META | Meta Platforms, Inc. | 2.14% | 26.7 | 22.1 | 7.9 | 0.30% | 2.05% |
| GOOG | Alphabet Inc. | 2.05% | 16.9 | 21.8 | 9.2 | 0.26% | 3.09% |
| MU | Micron Technology, Inc. | 1.95% | 11.8 | 7.0 | 7.5 | 0.07% | 4.21% |
| LLY | Eli Lilly and Company | 1.54% | 42.2 | 24.4 | 14.1 | 0.55% | 0.93% |
| TSLA | Tesla, Inc. | 1.49% | 328.4 | 158.7 | 13.5 | — | 0.12% |
| JPM | JPMorgan Chase & Co. | 1.45% | 14.2 | 13.5 | 4.7 | 1.94% | 2.60% |
| BRK.B | Berkshire Hathaway Inc. | 1.36% | 13.4 | 22.7 | 3.0 | — | 2.60% |
| AMD | Advanced Micro Devices, Inc. | 1.31% | 134.9 | 39.5 | 20.9 | — | 0.25% |
| XOM | Exxon Mobil Corporation | 1.23% | 23.0 | 14.8 | 2.0 | 2.30% | 1.36% |
| V | Visa Inc. | 1.16% | 34.3 | 24.0 | 17.0 | 0.67% | 0.86% |
| JNJ | Johnson & Johnson | 0.90% | 38.8 | 21.0 | 6.2 | 2.10% | 0.59% |
| WMT | Walmart Inc. | 0.87% | 43.0 | 38.0 | 1.3 | 0.83% | 0.51% |
| MA | Mastercard Incorporated | 0.80% | 34.0 | 24.2 | 15.4 | 0.56% | 0.60% |
| ABBV | AbbVie Inc. | 0.68% | 80.6 | 16.4 | 7.8 | 2.42% | 0.22% |
| CVX | Chevron Corporation | 0.64% | 21.2 | 15.2 | 2.1 | 3.16% | 0.77% |
| CSCO | Cisco Systems, Inc. | 0.61% | 32.2 | 19.8 | 6.7 | 1.56% | 0.48% |
| COST | Costco Wholesale Corporation | 0.59% | 47.6 | 40.3 | 1.4 | 0.59% | 0.31% |
| HD | The Home Depot, Inc. | 0.55% | 21.5 | 19.8 | 1.8 | 3.01% | 0.65% |
| PG | The Procter & Gamble Company | 0.54% | 24.1 | 21.2 | 4.3 | 2.73% | 0.57% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About DFAL valuation
Adding up its 515 holdings with company data, DFAL trades at 25.2 times trailing earnings and 18.9 times analysts' forward estimates, with a price-to-book ratio of 5.20 and a dividend yield of 1.10%. Its earnings yield of 3.96% is 1.37 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 35.3% of the fund and earn 35.7% of its combined profit. By sector, Healthcare is the most expensive at 38.0 times earnings and Financial Services the cheapest at 15.6. Companies that lost money over the past year are 2.4% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 99.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: DFAL chart, DFAL holdings, DFAL dividends.
DFAL valuation FAQ
What is the P/E ratio of DFAL?
Based on its holdings, DFAL has a trailing P/E of 25.2 and a forward P/E of 18.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of DFAL?
The trailing earnings yield is 3.96% (1 ÷ P/E) and the forward earnings yield 5.29%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is DFAL more expensive than the S&P 500?
DFAL trades at 25.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.9 and 19.9.
What is the price-to-book ratio of DFAL?
The holdings of DFAL trade at 5.20 times book value, with a combined return on equity of 20.6%.
Which sector in DFAL has the highest P/E?
Healthcare has the highest P/E at 38.0 and Financial Services the lowest at 15.6.