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DFA Commodity Strategy Portfolio

mutual fund
DCMSX
Payout Change
Pending
Price as of:
$4.59 +0.05 +1.1%
primary theme
Commodity
share class
DCMSX (Mutual Fund)

DFA Commodity Strategy Portfolio

Payout Change
Pending
Price as of:
$4.59 +0.05 +1.1%
primary theme
Commodity
share class
DCMSX (Mutual Fund)

DFA Commodity Strategy Portfolio

Payout Change
Pending
Price as of:
$4.59 +0.05 +1.1%
primary theme
Commodity
share class

Name

As of 10/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$4.59

$1.05 B

3.40%

$0.15

0.32%

Vitals

YTD Return

6.8%

1 yr return

3.2%

3 Yr Avg Return

11.2%

5 Yr Avg Return

13.3%

Net Assets

$1.05 B

Holdings in Top 10

63.1%

52 WEEK LOW AND HIGH

$4.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.32%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 114.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$4.59

$1.05 B

3.40%

$0.15

0.32%

DCMSX - Profile

Distributions

  • YTD Total Return 6.8%
  • 3 Yr Annualized Total Return 11.2%
  • 5 Yr Annualized Total Return 13.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.24%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    DFA Commodity Strategy Portfolio
  • Fund Family Name
    Dimensional Funds
  • Inception Date
    Nov 09, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Plecha

Fund Description

The DFA Commodity Strategy Portfolio seeks to achieve its investment objective by generally investing in a universe of allowable commodity-linked derivative instruments and fixed income investment opportunities. The Portfolio gains exposure to commodities markets by investing in derivative instruments, such as structured notes whose principal and/or coupon payments are linked to commodities or commodity indices, in swap agreements, and/or in other commodity-linked instruments (such as futures contracts on individual commodities or commodity indices). The Portfolio may invest up to 25% of its total assets in Dimensional Cayman Commodity Fund I Ltd. (the “Subsidiary”), a wholly-owned subsidiary of the Portfolio formed in the Cayman Islands, which has the same investment objective as the Portfolio and has a strategy of investing in derivative instruments, such as commodity-linked swap agreements and other commodity-linked instruments, futures contracts on individual commodities or

commodity indices, and options on these instruments. The Portfolio, directly and/or through its investment in the Subsidiary, expects to use such derivatives extensively as part of its investment strategy.

The DFA Commodity Strategy Portfolio will invest in obligations issued or guaranteed by the U.S. and foreign governments, their agencies and instrumentalities, bank obligations, commercial paper, repurchase agreements, money market funds, obligations of other domestic and foreign issuers having investment grade ratings (e.g., rated AAA to BBB- by S&P Global Ratings (“S&P”) or Fitch Ratings Ltd. (“Fitch”) or Aaa to Baa3 by Moody’s Investors Service, Inc. (“Moody’s”)), securities of domestic or foreign issuers denominated in U.S. dollars but not trading in the United States, and obligations of supranational organizations. Dimensional Fund Advisors LP (the “Advisor”) expects that the Portfolio will primarily invest in the obligations of issuers that are in developed countries. The fixed income securities in which the Portfolio invests are considered investment grade at the time of purchase. In addition, the Portfolio is authorized to invest more than 25% of its total assets in U.S. Treasury bonds, bills and notes, and obligations of federal agencies and instrumentalities.

The DFA Commodity Strategy Portfolio’s fixed income securities primarily will mature within five years from the date of settlement, and the Portfolio maintains a weighted average duration of three years or less. Duration is a measure of the sensitivity of a security’s price to changes in interest rates. The longer a security’s duration, the more sensitive it will be to changes in interest rates. Similarly, a portfolio with a longer average portfolio duration will be more sensitive to changes in interest rates than a fund with a shorter average portfolio duration. In making purchase decisions, if the expected term premium is greater for longer-term securities in the eligible maturity range, the Advisor will focus investment in the longer-term area, otherwise, the Portfolio will focus investment in the shorter-term area of the eligible maturity range.

The DFA Commodity Strategy Portfolio’s investments may include foreign securities denominated in foreign currencies. The Portfolio intends to hedge foreign currency exposure to protect against uncertainty in the level of future foreign currency rates, to hedge against fluctuations in currency exchange rates or to transfer balances from one currency to another. The Portfolio may hedge such currency exposure by entering into foreign currency forward contracts. The Portfolio also may enter into credit default swaps on issuers or indices to buy or sell credit protection to hedge its credit exposure, gain market or issuer exposure without owning the underlying securities, or increase the Portfolio’s expected total return. The Portfolio may purchase or sell futures contracts and options on futures contracts, to hedge its currency exposure or to hedge its interest rate exposure or for non-hedging purposes, such as a substitute for direct investment or to increase or decrease market exposure based on actual or expected cash inflows to or outflows from the Portfolio.

The DFA Commodity Strategy Portfolio may lend its portfolio securities to generate additional income.

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DCMSX - Performance

Return Ranking - Trailing

Period DCMSX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -25.4% 30.5% 63.36%
1 Yr 3.2% -52.1% 40.9% 74.05%
3 Yr 11.2%* -41.3% 276.8% 15.50%
5 Yr 13.3%* -27.6% 134.0% 15.08%
10 Yr 3.1%* -26.5% 47.3% 33.33%

* Annualized

Return Ranking - Calendar

Period DCMSX Return Category Return Low Category Return High Rank in Category (%)
2023 -11.4% -64.0% 30.1% 69.47%
2022 3.8% -40.8% 2475.6% 33.08%
2021 -12.7% -23.3% 106.7% 91.47%
2020 -2.2% -71.9% 295.5% 61.90%
2019 6.3% -31.8% 53.9% 53.60%

Total Return Ranking - Trailing

Period DCMSX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -25.4% 30.5% 63.36%
1 Yr 3.2% -52.1% 40.9% 74.05%
3 Yr 11.2%* -41.3% 276.8% 15.50%
5 Yr 13.3%* -27.6% 134.0% 15.08%
10 Yr 3.1%* -26.5% 47.3% 33.33%

* Annualized

Total Return Ranking - Calendar

Period DCMSX Return Category Return Low Category Return High Rank in Category (%)
2023 -9.1% -64.0% 41.1% 87.79%
2022 11.4% -15.1% 5648.8% 65.38%
2021 70.5% -23.3% 188.1% 5.43%
2020 -1.8% -67.8% 296.1% 65.87%
2019 8.0% -31.8% 53.9% 56.80%

NAV & Total Return History


DCMSX - Holdings

Concentration Analysis

DCMSX Category Low Category High DCMSX % Rank
Net Assets 1.05 B 2.34 M 62.8 B 22.50%
Number of Holdings 171 1 1009 33.59%
Net Assets in Top 10 660 M 2.66 M 63.2 B 35.88%
Weighting of Top 10 63.12% 17.2% 169.5% 55.12%

Top 10 Holdings

  1. U.S. Treasury Floating Rate Notes 13.79%
  2. U.S. Treasury Floating Rate Notes 11.98%
  3. U.S. Treasury Bills 7.13%
  4. DFA Short Term Investment Fund 5.81%
  5. U.S. Treasury Notes 5.73%
  6. DFA Investment Trust Co. 5.72%
  7. U.S. Treasury Bills 3.78%
  8. U.S. Treasury Bills 3.63%
  9. U.S. Treasury Floating Rate Notes 3.35%
  10. U.S. Treasury Bills 2.20%

Asset Allocation

Weighting Return Low Return High DCMSX % Rank
Bonds
91.74% 0.00% 127.91% 10.69%
Cash
8.60% 0.00% 101.92% 68.99%
Stocks
5.72% 0.00% 49.31% 25.95%
Convertible Bonds
3.89% 0.00% 3.89% 0.78%
Other
0.51% -7.17% 100.19% 57.36%
Preferred Stocks
0.00% 0.00% 0.08% 28.68%

Stock Sector Breakdown

Weighting Return Low Return High DCMSX % Rank
Utilities
0.00% 0.00% 27.00% N/A
Technology
0.00% 0.00% 2.77% N/A
Real Estate
0.00% 0.00% 13.82% N/A
Industrials
0.00% 0.00% 23.28% N/A
Healthcare
0.00% 0.00% 1.73% N/A
Financial Services
0.00% 0.00% 13.67% N/A
Energy
0.00% 0.00% 33.64% N/A
Communication Services
0.00% 0.00% 100.00% N/A
Consumer Defense
0.00% 0.00% 12.04% N/A
Consumer Cyclical
0.00% 0.00% 3.41% N/A
Basic Materials
0.00% 0.00% 47.41% N/A

Stock Geographic Breakdown

Weighting Return Low Return High DCMSX % Rank
US
5.72% 0.00% 32.22% 26.36%
Non US
0.00% 0.00% 28.00% 33.33%

Bond Sector Breakdown

Weighting Return Low Return High DCMSX % Rank
Government
44.37% 0.00% 100.00% 26.96%
Corporate
32.66% 0.00% 42.72% 12.17%
Cash & Equivalents
8.60% 0.00% 100.00% 70.69%
Derivative
0.51% -7.17% 100.19% 26.72%
Securitized
0.00% 0.00% 36.61% 43.48%
Municipal
0.00% 0.00% 1.45% 28.70%

Bond Geographic Breakdown

Weighting Return Low Return High DCMSX % Rank
US
91.10% 0.00% 116.12% 10.85%
Non US
0.64% 0.00% 12.98% 10.08%

DCMSX - Expenses

Operational Fees

DCMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.32% 0.21% 5.23% 97.06%
Management Fee 0.28% 0.00% 1.75% 8.13%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.45% 1.61%

Sales Fees

DCMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

DCMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DCMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 114.00% 0.00% 162.00% 86.81%

DCMSX - Distributions

Dividend Yield Analysis

DCMSX Category Low Category High DCMSX % Rank
Dividend Yield 3.40% 0.00% 19.94% 43.75%

Dividend Distribution Analysis

DCMSX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

DCMSX Category Low Category High DCMSX % Rank
Net Income Ratio 0.24% -55.71% 52.26% 25.78%

Capital Gain Distribution Analysis

DCMSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually

Distributions History

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DCMSX - Fund Manager Analysis

Managers

David Plecha


Start Date

Tenure

Tenure Rank

Nov 09, 2010

11.56

11.6%

David Plecha is Dimensional’s Global Head of Fixed Income. A member of the Investment Committee and Investment Research Committee, he not only manages US and global portfolios but also maintains much of the fixed income research and client communications. Dave received his Chartered Financial Analyst® designation in 1996. Prior to joining Dimensional in 1989, he managed stock index futures and options for Leland O’Brien Rubinstein Associates and was an operations planner for Texas Instruments.

Joseph Kolerich


Start Date

Tenure

Tenure Rank

Feb 28, 2012

10.26

10.3%

Joseph Kolerich is Head of Fixed Income, Americas, Senior Portfolio Manager and Vice President of Dimensional and a member of the Investment Committee. Mr. Kolerich has an MBA from the University of Chicago Booth School of Business and a BS from Northern Illinois University. Mr. Kolerich joined DFA as a portfolio manager in 2001 and has been responsible for the fixed income portfolios since 2012.

Alan Hutchison


Start Date

Tenure

Tenure Rank

Jul 21, 2015

6.87

6.9%

Mr. Hutchison is a Portfolio Manager of Dimensional Fund Advisors LP. Mr. Hutchison holds an MBA from Drake University and a BBA from Texas Tech University. Mr. Hutchison joined Dimensional Fund Advisors LP in 2006, has been a portfolio manager since 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 17.03 6.1 11.51