Key highlights

  • DACE holds 488 Australian-listed companies, with its top 10 holdings making up 32.18% of the fund.
  • Basic Materials is 31.01% of the fund and Financial Services 22.87%, the latter well below the 30.04% category average.
  • The fund size is $6.98 billion, the management fee is 0.28% and its latest distribution was $0.254 per unit.

Active ETFs from Dimensional apply a research-based process to a broad share portfolio rather than choosing a small group of stocks. The Dimensional Australian Core Equity Trust Active ETF (ASX:DACE) was admitted to the ASX on 13 November 2023 and is classified as Equity Australia Large Blend, with the S&P/ASX 300 TR index as its benchmark. It is one of the larger active ETFs in the Australian market, with a fund size of $6.98 billion.

This article describes the exposure DACE provides, based on its ASX fund page, including its sector and size breakdown, its largest holdings, its fee and its distribution record. It does not include return data or advice.

What the fund is designed to do

The investment objective of the fund is to provide long-term capital growth by gaining exposure to a diversified portfolio of securities listed in Australia, with increased emphasis on higher expected return securities relative to a market-capitalisation-weighted portfolio. In effect, the fund starts with a broad market portfolio and tilts the weights toward the characteristics Dimensional associates with higher expected returns, rather than simply weighting each company by size.

The portfolio is very broad, with 488 companies, and the fund’s turnover ratio is 7.10%. Its metrics show a beta of 0.93 and a standard deviation of 10.21. The fund’s units outstanding were 376,487,888, and its average daily trading volume was 41,943 units. A broad holding count means individual stock decisions have a small effect on the overall exposure, while the sector tilt is the main way the portfolio differs from the market.

Sector allocation

By Morningstar sector, DACE’s largest weightings are Basic Materials (31.01%), Financial Services (22.87%), and Industrials (8.70%). Relative to its Morningstar category average, the fund holds a higher share in Basic Materials (31.01 vs 26.24%), and Energy (7.50 vs 4.85%). It holds a lower share than the category average in Financial Services (22.87 vs 30.04%), and Healthcare (4.50 vs 6.88%). The remaining listed sectors are Energy (7.50%), Consumer Cyclical (7.22%), Real Estate (5.65%), Healthcare (4.50%), Consumer Defensive (4.28%), Technology (3.61%), and Communication Services (3.38%).

The tilt away from Financial Services and Healthcare and toward Basic Materials, Industrials and Energy is a visible difference from the category average.

Asset mix, company size and geography

The fund is fully invested in shares, at 100.00%. By company size, 86.14% is in companies above $1 billion, 11.59% in companies between $500 million and $1 billion and 2.28% below $500 million, a higher share in mid and smaller companies than the category averages of 92.40%, 6.82% and 0.79%.

Geographically, 99.51% of the fund is in Australia, with 0.26% in the United Kingdom, 0.20% in the United States and 0.03% in New Zealand. The category has 94.32% in Australia and 3.51% in the United States, so DACE is more domestically concentrated.

Top holdings

The ten largest holdings make up 32.18% of the fund, with the other 67.82% across 478 companies. They are BHP Group (ASX:BHP) at 10.20%, Commonwealth Bank of Australia (ASX:CBA) at 4.15%, Westpac Banking Corporation (ASX:WBC) at 3.07%, National Australia Bank (ASX:NAB) at 2.80%, Woodside Energy Group (ASX:WDS) at 2.34%, ANZ Group (ASX:ANZ) at 2.27%, Rio Tinto (ASX:RIO) at 2.10%, Wesfarmers (ASX:WES) at 1.92%, Goodman Group (ASX:GMG) at 1.82% and QBE Insurance Group (ASX:QBE) at 1.46%.

BHP’s 10.20% weight is more than twice that of the next largest holding, which explains much of the fund’s tilt toward Basic Materials.

Distributions

DACE pays distributions quarterly. The most recent was an interim distribution of $0.254 per unit, with an ex-date of 1 October 2026, a record date of 2 October 2026 and a payment date of 19 October 2026. Earlier distributions were $0.051 in July 2026, $0.206 in April 2026, $0.077 in January 2026 and $0.235 in October 2025.

Fund snapshot and recent filings

On the ASX page, DACE showed a last price of $18.55 with no change, a bid-offer range of $18.40 to $19.80, a day range of $18.41 to $18.59 and a trading volume of 76,625 units. The management fee is 0.28% and the ISIN is AU60DFA00034. The head office is Dimensional Fund Advisors, Level 43, 1 Macquarie Place, Sydney.

Recent announcements include the Monthly Units Issued and Redeemed and Notional Derivative Use notice on 7 October 2026, the distribution reinvestment plan issue price and the estimated tax component on 6 October, the final distribution announcement on 30 September and the estimated distributions announcement on 25 September 2026.

How DACE’s exposure is built

DACE gives broad exposure to 488 Australian companies, with a tilt toward materials, industrials and energy and away from financials and healthcare relative to its category. It carries a 0.28% management fee and pays distributions quarterly.