Dimensional International Small Cap Value ETF

DISV

市值 US$51.1億

Small-cap equities are winning out against their large-cap counterparts in a classic David versus Goliath ETF battle. After years of mega-cap technology dominance, small-cap equities have delivered investors a historic first half of 2026.

Dimensional International Small Cap Value ETF offers attractive valuations and broad diversification in developed international markets. DISV has underperformed Avantis International Small Cap Value ETF recently, with weaker risk-adjusted returns and a slightly higher expense ratio. I assign a 'Hold' rating to DISV, citing relative underperformance and less compelling risk-return versus peers despite its evidence-based investment approach.

The Dimensional International Small Cap Value ETF (NYSEARCA:DISV) sits in an unusual corner of the market: small foreign companies that trade cheaply and still send cash back to shareholders.

International small-cap value has become an interesting income corner of global equities, with two ETFs dominating: Avantis International Small Cap Value ETF (NYSEARCA:DISV) and the iShares International Developed Small Cap Value Factor ETF (NASDAQ:ISVL).

AVDV is an active ETF investing in international small-cap value stocks. It has outperformed most benchmarks, including the S&P 500, these past twelve months, and for several years. Although not an income ETF, it sports a growing 3.0% dividend yield, quite a bit higher than average for an equity fund.

Though investors do not universally agree on the existence of the January Effect, there is at least in theory a phenomenon in which small-cap stocks may rise at the start of the year after investors have sold off losing stocks late in the prior year to offset capital gains. When they then repurchase shares in January, the theory holds, these stocks may see a boost.

The recent pullback for big techs in the U.S. underscores the need for investors to focus more on international stocks and bonds.

Dimensional International Small Cap Value ETF is an actively managed fund holding about 1,500 international small caps. DISV is diversified across sectors and holdings, with a focus on Japan. The fund has outperformed international benchmarks and the S&P 500 since its inception.

U.S. stocks are trading at high valuations relative to historical averages, pointing to a long period of weak performance.

It's true that it's been a challenging year for U.S. small-cap ETFs. Using the iShares Russell 2000 ETF (IWM) as a benchmark for the category, we immediately see that 2025 has been marked by red ink.