Dimensional Australian Value Trust – Active ETF Guide (DAVA): What Is It All About?

Overview

Dimensional Australian Value Trust – Active ETF (DAVA) provides an active, value-focused approach to Australian shares. The portfolio is led by financial services, basic materials and energy, with its ten largest positions making up 59.76% of assets. The supplied figures show returns of 8.938% year to date and 13.796% over one year; past performance does not guarantee future results.

Category

Value investing seeks shares considered attractively priced relative to measures of business fundamentals. Such strategies can differ from broad market-weighted portfolios, including in sector exposure, and may perform differently as market leadership changes. DAVA applies this theme to Australian shares through an active ETF.

Value strategies can behave differently from the broader share market as investor preferences and economic conditions shift. DAVA’s sizeable allocations to banks, resources and energy mean its results may also be shaped by conditions affecting those parts of the Australian market.

Key facts

Ticker

DAVA

Exchange

AU

ISIN

AU60DFA01016

Category / focus

Australia & New Zealand Equity

Provider

DFA Australia Limited

Domicile

Australia

Currency

AUD

Inception date

1999-06-10

UCITS

No

Costs

The supplied profile does not include a management fee or ongoing cost figure. Check the fund’s current disclosure documents for applicable fees and costs.

Performance

YTD

10.6%

1 year

12.5%

Dividend yield

6.70%

Top 10 concentration

58.5%

Holdings

1. Westpac Banking Corporation8.96%

   Ticker

   WBC

   Sector

   Financial Services

   Country

   Australia

2. National Australia Bank Ltd9.42%

   Ticker

   NAB

   Sector

   Financial Services

   Country

   Australia

3. ANZ Group Holdings Ltd9.01%

   Ticker

   ANZ

   Sector

   Financial Services

   Country

   Australia

4. Woodside Energy Group Ltd6.56%

   Ticker

   WDS

   Sector

   Energy

   Country

   Australia

5. Rio Tinto Ltd5.68%

   Ticker

   RIO

   Sector

   Basic Materials

   Country

   Australia

6. Macquarie Group Ltd4.36%

   Ticker

   MQG

   Sector

   Financial Services

   Country

   Australia

7. QBE Insurance Group Limited4.34%

   Ticker

   QBE

   Sector

   Financial Services

   Country

   Australia

8. Northern Star Resources Ltd3.77%

   Ticker

   NST

   Sector

   Basic Materials

   Country

   Australia

9. Santos Ltd3.52%

   Ticker

   STO

   Sector

   Energy

   Country

   Australia

10. Fortescue Ltd2.86%

    Ticker

    FMG

    Sector

    Basic Materials

    Country

    Australia

Weights are percentages of the fund; bars use a 0–100% scale. Displayed entries may not cover the whole portfolio.

The portfolio has substantial exposure to financial services (40.307%), basic materials (26.667%) and energy (15.067%). Its largest holdings include National Australia Bank (9.466%), Westpac (8.94%) and ANZ Group Holdings (8.435%). The top ten represent 59.76% of assets, so the largest positions can have a meaningful influence on results.

Regions

• Australasia102.5%
• North America0.0%

• Japan0.0%

• Asia Emerging0.0%

• Latin America0.0%

• Asia Developed0.0%

• United Kingdom0.0%

• Europe Emerging0.0%

• Europe Developed0.0%

• Africa/Middle East0.0%

Weights are percentages of the fund; bars use a 0–100% scale. Displayed entries may not cover the whole portfolio.

Sectors

• Financial Services42.1%

• Basic Materials24.5%

• Energy15.1%

• Industrials5.6%

• Healthcare3.6%

• Consumer Cyclicals2.5%

• Consumer Defensive1.8%

• Utilities1.8%

• Communication Services1.4%

• Technology0.3%

Weights are percentages of the fund; bars use a 0–100% scale. Displayed entries may not cover the whole portfolio.

Related ETFs

A useful comparison is how DAVA’s active value approach differs from Australian value-oriented funds that use rules-based or index-based methods. QOZ is one such contextual comparison, though the strategies and holdings are not identical.

Risks

Who it may suit

DAVA may interest investors researching an actively managed, Australian-focused value strategy and who are comfortable with sizeable exposures to financials, materials and energy. It is not a diversified global shareholding.

Key risks

DAVA is exposed to Australian share-market fluctuations and has notable sector and holding concentration: financial services, basic materials and energy together make up most of the listed sector allocation, while the top ten holdings account for 59.76%. A value approach may lag other styles for extended periods, and bank, resource and energy shares can be affected by changing economic and industry conditions. The displayed dividend yield can vary and is not assured.

FAQ