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DFA Global Core Plus Real Return Portfolio

mutual fund
DFAAX
Payout Change
Pending
Price as of:
$9.67 +0.0 +0.0%
primary theme
TIPS
share class
DFAAX (Mutual Fund)

DFA Global Core Plus Real Return Portfolio

Payout Change
Pending
Price as of:
$9.67 +0.0 +0.0%
primary theme
TIPS
share class
DFAAX (Mutual Fund)

DFA Global Core Plus Real Return Portfolio

Payout Change
Pending
Price as of:
$9.67 +0.0 +0.0%
primary theme
TIPS
share class

Name

As of 10/11/2024

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

$9.67

$265 M

6.88%

$0.67

0.30%

Vitals

YTD Return

5.4%

1 yr return

12.2%

3 Yr Avg Return

0.3%

5 Yr Avg Return

N/A

Net Assets

$265 M

Holdings in Top 10

17.9%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/11/2024

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

$9.67

$265 M

6.88%

$0.67

0.30%

DFAAX - Profile

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.34%
DIVIDENDS
  • Dividend Yield 6.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    DFA Global Core Plus Real Return Portfolio
  • Fund Family Name
    Dimensional Funds
  • Inception Date
    Apr 26, 2021
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joseph Kolerich

Fund Description

The Global Core Plus Real Return Portfolio will pursue its investment objective by investing in a universe of U.S. and foreign debt securities, including inflation-protected securities, and derivative instruments. The Portfolio primarily invests in securities that mature within twenty years from the date of settlement, but may, as in the case of mortgage-backed securities, invest in securities with longer maturities. Under normal circumstances, the Portfolio will generally maintain a weighted average duration between three and ten years. 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. The Advisor expects that the Portfolio will primarily invest in the obligations of issuers that are in developed countries. However, the Advisor may invest in issuers located in other countries as well, which may include emerging markets. The Advisor selects the Portfolio's foreign country and currency compositions based on an evaluation of various factors, including, but not limited to, relative interest rates and exchange rates.

In making purchase decisions, if the expected term premium is greater for longer-term securities in the eligible maturity range, the Advisor will focus investments in the longer-term area, otherwise, the Global Core Plus Real Return Portfolio will focus investments in the shorter-term area of the eligible maturity range.

The Global Core Plus Real Return Portfolio may invest in fixed income securities considered investment grade at the time of purchase (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 Investor’s Service, Inc. (“Moody’s”)). The Portfolio may invest with an emphasis on fixed income securities rated A+ to BBB- by S&P or Fitch or A1 to Baa3 by Moody’s. In addition, the Portfolio may invest in fixed income securities rated below investment grade (also known as “junk” bonds). The Portfolio will be managed with a view to capturing expected credit premiums and expected term premiums. The term “expected credit premium” means the expected incremental return on investment for holding obligations considered to have greater credit risk than direct obligations of the U.S. Treasury, and “expected term premium” means the expected relative return on investment for holding securities having longer-term maturities as compared to shorter-term maturities. In managing the Portfolio, the Advisor will increase or decrease investment exposure to intermediate-term securities depending on the expected term premium and also increase or decrease investment exposure to lower-rated debt securities depending on the expected credit premium.

The Global Core Plus Real Return Portfolio may invest in inflation protected securities, obligations issued or guaranteed by the U.S. and foreign governments, their agencies and instrumentalities, including mortgage-backed securities, corporate debt obligations, bank obligations, commercial paper, repurchase agreements, money market funds, securities of domestic or foreign issuers denominated in U.S. dollars but not trading in the United States, and obligations of supranational organizations. The Portfolio may purchase or sell mortgage-backed securities on a delayed delivery or forward commitment basis through the “to-be-announced” (TBA) market. 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 Advisor expects that the Portfolio will primarily invest in the obligations of issuers that are in developed countries. The Portfolio intends to invest its assets to gain exposure to at least three different countries, including the United States. Under normal circumstances, the Portfolio invests at least 30% of its net assets in non-U.S. issuers. As of the date of the Prospectus, the Portfolio invests approximately 53% of its net assets in U.S. issuers. This percentage will change due to market conditions. An issuer may be considered to be of a country if it is organized under the laws of, maintains its principal place of business in, has at least 50% of its assets or derives at least 50% of its operating income in, or is a government, government agency, instrumentality or central bank of, that country.

The Global Core Plus Real Return Portfolio may enter into swaps, such as inflation swaps, to seek inflation protection. Because many of the Global Core Plus Real Return Portfolio’s investments may be denominated in foreign currencies, the Portfolio may enter into foreign currency forward contracts to attempt 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 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 total return. The Portfolio may purchase or sell futures contracts and options on futures contracts, to hedge its interest rate or currency exposure or for non-hedging purposes, such as a substitute for direct investment or to increase or decrease market exposure, including adjustments based on actual or expected cash inflows to or outflows from the Portfolio.

The Global Core Plus Real Return Portfolio may lend its portfolio securities to generate additional income.

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DFAAX - Performance

Return Ranking - Trailing

Period DFAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -47.9% 12.3% 8.37%
1 Yr 12.2% -45.7% 27.7% 5.91%
3 Yr 0.3%* -21.6% 4.6% 33.33%
5 Yr N/A* -10.9% 5.4% N/A
10 Yr N/A* -4.7% 3.3% N/A

* Annualized

Return Ranking - Calendar

Period DFAAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% -8.7% 5.1% 0.50%
2022 -15.1% -52.3% -4.0% 39.39%
2021 N/A -7.9% 7.7% N/A
2020 N/A -29.4% 23.0% N/A
2019 N/A 0.8% 16.7% N/A

Total Return Ranking - Trailing

Period DFAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -47.9% 12.3% 8.37%
1 Yr 12.2% -45.7% 27.7% 5.91%
3 Yr 0.3%* -21.6% 4.6% 33.33%
5 Yr N/A* -10.9% 5.4% N/A
10 Yr N/A* -4.7% 3.3% N/A

* Annualized

Total Return Ranking - Calendar

Period DFAAX Return Category Return Low Category Return High Rank in Category (%)
2023 9.5% -5.2% 9.5% 0.50%
2022 -13.4% -40.1% 9.2% 92.42%
2021 N/A -2.7% 37.6% N/A
2020 N/A -0.5% 27.5% N/A
2019 N/A 2.8% 19.3% N/A

NAV & Total Return History


DFAAX - Holdings

Concentration Analysis

DFAAX Category Low Category High DFAAX % Rank
Net Assets 265 M 968 K 51.8 B 75.37%
Number of Holdings 376 2 1526 10.84%
Net Assets in Top 10 47.5 M 891 K 24.2 B 92.12%
Weighting of Top 10 17.91% 11.9% 100.0% 95.05%

Top 10 Holdings

  1. Uniform Mortgage-Backed Security, TBA 2.43%
  2. Uniform Mortgage-Backed Security, TBA 2.39%
  3. Uniform Mortgage-Backed Security, TBA 2.36%
  4. U.S. Treasury Floating Rate Notes 2.26%
  5. U.S. Treasury Floating Rate Notes 1.97%
  6. Uniform Mortgage-Backed Security, TBA 1.60%
  7. Swap 1.29%
  8. U.K. Gilts 1.29%
  9. Abbott Laboratories 1.16%
  10. New South Wales Treasury Corp. 1.16%

Asset Allocation

Weighting Return Low Return High DFAAX % Rank
Bonds
105.01% 0.00% 198.42% 8.87%
Cash
1.81% -42.00% 15.28% 27.59%
Other
1.65% -55.92% 68.12% 37.44%
Convertible Bonds
1.40% 0.00% 3.96% 7.39%
Stocks
0.87% 0.00% 100.03% 5.91%
Preferred Stocks
0.00% 0.00% 0.78% 64.04%

Stock Sector Breakdown

Weighting Return Low Return High DFAAX % Rank
Utilities
0.00% 0.00% 1.13% N/A
Technology
0.00% 0.00% 48.29% N/A
Real Estate
0.00% 0.00% 99.95% N/A
Industrials
0.00% 0.00% 3.93% N/A
Healthcare
0.00% 0.00% 6.17% N/A
Financial Services
0.00% 0.00% 100.00% N/A
Energy
0.00% 0.00% 10.65% N/A
Communication Services
0.00% 0.00% 17.02% N/A
Consumer Defense
0.00% 0.00% 31.30% N/A
Consumer Cyclical
0.00% 0.00% 16.99% N/A
Basic Materials
0.00% 0.00% 22.13% N/A

Stock Geographic Breakdown

Weighting Return Low Return High DFAAX % Rank
US
0.87% 0.00% 100.03% 5.91%
Non US
0.00% 0.00% 81.06% 58.62%

Bond Sector Breakdown

Weighting Return Low Return High DFAAX % Rank
Government
49.34% 6.70% 112.97% 91.63%
Corporate
27.62% 0.00% 50.64% 6.90%
Securitized
3.96% 0.00% 58.03% 36.95%
Cash & Equivalents
1.81% -0.08% 15.28% 24.14%
Derivative
1.65% -22.87% 13.49% 15.27%
Municipal
0.00% 0.00% 1.28% 67.49%

Bond Geographic Breakdown

Weighting Return Low Return High DFAAX % Rank
US
62.82% 0.00% 174.44% 93.60%
Non US
42.19% 0.00% 42.19% 0.49%

DFAAX - Expenses

Operational Fees

DFAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.30% 0.03% 22.29% 82.09%
Management Fee 0.21% 0.00% 0.99% 25.62%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

DFAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

DFAAX 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.

DFAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 246.00% N/A

DFAAX - Distributions

Dividend Yield Analysis

DFAAX Category Low Category High DFAAX % Rank
Dividend Yield 6.88% 0.00% 14.25% 27.09%

Dividend Distribution Analysis

DFAAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Monthly

Net Income Ratio Analysis

DFAAX Category Low Category High DFAAX % Rank
Net Income Ratio 1.34% -0.06% 6.71% 92.00%

Capital Gain Distribution Analysis

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

Distributions History

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DFAAX - Fund Manager Analysis

Managers

Joseph Kolerich


Start Date

Tenure

Tenure Rank

Apr 26, 2021

1.1

1.1%

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.

David Plecha


Start Date

Tenure

Tenure Rank

Apr 26, 2021

1.1

1.1%

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.

Lovell Shao


Start Date

Tenure

Tenure Rank

Apr 26, 2021

1.1

1.1%

Mr. Shao is a Vice President and Senior Portfolio Manager of Dimensional Fund Advisors LP . Mr. Shao holds an MA from the University of California at Los Angeles and a BS from Columbia University. Mr. Shao joined Dimensional Fund in 2006, has been a portfolio manager since 2011, and has been responsible for the DFA Intermediate-Term Extended Quality Portfolio, DFA Global Core Plus Fixed Income Portfolio, DFA Investment Grade Portfolio and DFA Short-Duration Real Return Portfolio since 2019 and the DFA Global Core Plus Real Return Portfolio since its inception.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 20.51 6.55 11.1