Dimensional - World ex US Core Equity 2 ETF (DFAX) Expected Move
Expected move estimates the probable price range for a given period based on at-the-money options pricing. It reflects the market consensus for volatility over the selected timeframe.
Dimensional - World ex US Core Equity 2 ETF (DFAX) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $11.62B, listed on AMEX, carrying a beta of 0.97 to the broader market. Generally, the Advisor buys and sells securities for the Portfolio with the goals of: (i) delaying and minimizing the realization of net capital gains (e. public since 2021-09-13.
Snapshot as of May 15, 2026.
- Spot Price
- $36.63
- Expected Move
- 11.6%
- Implied High
- $40.87
- Implied Low
- $32.39
- Front DTE
- 34 days
As of May 15, 2026, Dimensional - World ex US Core Equity 2 ETF (DFAX) has an expected move of 11.58%, a one-standard-deviation implied price range of roughly $32.39 to $40.87 from the current $36.63. Expected move is derived from at-the-money straddle pricing and represents the market's pricing of a ±1σ move. Roughly 68% of outcomes should fall within this range under lognormal assumptions, though empirical markets have fatter tails.
DFAX Strategy Sizing to the Expected Move
With Dimensional - World ex US Core Equity 2 ETF pricing an expected move of 11.58% from $36.63, risk-defined strategies sized to the implied range structurally target the modal outcome distribution. Iron condors with wings at the ±1σ expected move boundaries collect premium against the ~68% probability that spot stays inside the range under lognormal assumptions; strangles set wider at ±1.5σ or ±2σ target the tails but pay smaller per-trade premium. Long-vol structures (long straddles, ratio backspreads) profit when realized move exceeds the implied move, the inverse trade: they bet against the lognormal assumption itself, capitalizing on the empirically fatter equity-return tails.
Learn how expected move is reported and how to read the data →
Per-expiration expected move for DFAX derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $36.63 × (1 ± expected move %). One standard-deviation range under lognormal assumptions, roughly 68% of outcomes fall inside.
| Expiration | DTE | ATM IV | Expected Move | Implied High | Implied Low |
|---|---|---|---|---|---|
| Jun 18, 2026 | 34 | 40.4% | 12.3% | $41.15 | $32.11 |
| Jul 17, 2026 | 63 | 32.4% | 13.5% | $41.56 | $31.70 |
| Oct 16, 2026 | 154 | 20.5% | 13.3% | $41.51 | $31.75 |
| Jan 15, 2027 | 245 | 23.9% | 19.6% | $43.80 | $29.46 |
Frequently asked DFAX expected move questions
- What is the current DFAX expected move?
- As of May 15, 2026, Dimensional - World ex US Core Equity 2 ETF (DFAX) has an expected move of 11.58% over the next 34 days, implying a one-standard-deviation price range of $32.39 to $40.87 from the current $36.63. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.
- What does the DFAX expected move mean for traders?
- Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.
- How is DFAX expected move calculated?
- The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.