Highlights

  • DAVA provides exposure to a diversified portfolio of Australian value companies.
  • Financial Services leads the portfolio at 42.07%, followed by Basic Materials at 26.03%.
  • Westpac, ANZ and National Australia Bank collectively represent 26.43% of reported holdings.
  • The fund holds 178 companies; 92.48% of market-capitalisation exposure is in businesses above AUD 1 billion.

Dimensional Australian Value Trust (ASX:DAVA) is an actively managed exchange-traded fund seeking long-term capital growth through Australian-listed value companies. Rather than simply replicating a market-capitalisation index, it emphasises securities with value characteristics.

Australian Value Equity Investment Strategy

Value investing generally focuses on businesses trading at relatively lower valuation multiples or exhibiting other value-oriented characteristics. DAVA reports a 100.00% equity allocation, with no reported cash or bond allocation, and 100.00% Australian geographic exposure. It uses the S&P/ASX 300 Total Return Index as its benchmark.

Financial Services and Resources Drive Portfolio Exposure

Financial Services accounts for 42.07% of reported sector weight, compared with 30.12% for the category. Basic Materials represents 26.03%, followed by Energy at 15.10%. These three sectors together account for 83.20% of sector exposure. Other positions include Industrials at 4.98%, Healthcare at 3.38%, Consumer Cyclical at 2.63%, Utilities at 1.96% and Technology at 0.24%. This composition indicates material concentration in banking, resource and energy businesses.

Major Australian Banks Lead Top Holdings

DAVA holds 178 companies and the ten largest positions account for 58.10% of reported holdings. Westpac (ASX:WBC) is the largest at 9.09%, followed by ANZ (ASX:ANZ) at 8.77% and National Australia Bank (ASX:NAB) at 8.57%. These three banks together represent 26.43%. Woodside Energy (ASX:WDS) accounts for 6.57%, Rio Tinto (ASX:RIO) 6.18%, Macquarie Group 4.71%, QBE Insurance 4.15%, Santos 3.53%, Northern Star Resources 3.49% and Fortescue 3.01%.

Fund Size, Distributions and Management Costs

The reported fund size is AUD 1.57 billion, with approximately 49.76 million units outstanding. The management fee is 0.34%. Its interim distribution of AUD 0.505 per unit had an ex-distribution date of 1 October 2026 and payment date of 19 October 2026. Reported beta is 0.76. Companies above AUD 1 billion account for 92.48% of market-capitalisation exposure.

Key Insights

Dimensional Australian Value Trust (ASX:DAVA) targets Australian value equity exposure with substantial banking, energy and materials allocations. Its Financial Services weighting connects portfolio outcomes to credit conditions and banks’ earnings, while resource exposure creates sensitivity to commodity markets. Concentration in large financial institutions and major resource producers is a defining portfolio feature.