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DFA Selectively Hedged Global Fixed Income Portfolio

mutual fund
DFSHX
Payout Change
Pending
Price as of:
$9.5 +0.0 +0.0%
primary theme
N/A
share class
DFSHX (Mutual Fund)

DFA Selectively Hedged Global Fixed Income Portfolio

Payout Change
Pending
Price as of:
$9.5 +0.0 +0.0%
primary theme
N/A
share class
DFSHX (Mutual Fund)

DFA Selectively Hedged Global Fixed Income Portfolio

Payout Change
Pending
Price as of:
$9.5 +0.0 +0.0%
primary theme
N/A
share class

Name

As of 10/04/2024

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

$9.50

$998 M

3.73%

$0.35

0.16%

Vitals

YTD Return

4.5%

1 yr return

6.3%

3 Yr Avg Return

0.8%

5 Yr Avg Return

1.1%

Net Assets

$998 M

Holdings in Top 10

16.4%

52 WEEK LOW AND HIGH

$9.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.16%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 94.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/04/2024

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

$9.50

$998 M

3.73%

$0.35

0.16%

DFSHX - Profile

Distributions

  • YTD Total Return 4.5%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.80%
DIVIDENDS
  • Dividend Yield 3.7%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    DFA Selectively Hedged Global Fixed Income Portfolio
  • Fund Family Name
    Dimensional Funds
  • Inception Date
    Mar 31, 2008
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Plecha

Fund Description

The Selectively Hedged Global Portfolio seeks to maximize total returns from a universe of U.S. and foreign debt securities maturing in five years or less from the date of settlement. The Portfolio may selectively hedge its currency exposures depending on market conditions. The debt securities in which the Portfolio may invest include obligations issued or guaranteed by the U.S. and foreign governments, their agencies and instrumentalities, 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. Dimensional Fund Advisors LP (the “Advisor”) expects that the Portfolio will primarily

invest in the obligations of issuers that are in developed countries. 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. The fixed income securities in which the Portfolio invests are 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 generally invests with an emphasis on debt securities rated A+ to BBB- by S&P or Fitch or A1 to Baa3 by Moody’s. The Portfolio will increase or decrease investment exposure to these lower-rated investment grade securities (i.e., those rated A+ to BBB- by S&P or Fitch or A1 to Baa3 by Moody’s) depending on the expected credit premium. 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 54% 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.

As a non-fundamental policy, under normal circumstances, the Selectively Hedged Global Portfolio will invest at least 80% of its net assets in fixed income securities. The Portfolio primarily invests in securities that mature within five years from the date of settlement and maintains a weighted average maturity and 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. 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. 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.

Because many of the Selectively Hedged Global Portfolio’s investments may be denominated in foreign currencies, the Portfolio may also 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. Alternatively, the Portfolio may leave all or some of the currency exposure unhedged. The decision to hedge the Portfolio’s currency exposure with respect to a foreign market will be based on, among other things, a comparison of the respective foreign and U.S. short-term interest rates and the Portfolio’s existing exposure to a given foreign currency. The Portfolio may also enter into foreign currency forward contracts in order to gain exposure to foreign currencies in a more efficient manner. 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 Selectively Hedged Global Portfolio may lend its portfolio securities to generate additional income.

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DFSHX - Performance

Return Ranking - Trailing

Period DFSHX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -59.5% 0.9% 18.93%
1 Yr 6.3% -15.5% 19.7% 21.15%
3 Yr 0.8%* -4.3% 4.2% 57.71%
5 Yr 1.1%* -2.5% 4.1% 60.64%
10 Yr 1.2%* -3.0% 2.7% 67.43%

* Annualized

Return Ranking - Calendar

Period DFSHX Return Category Return Low Category Return High Rank in Category (%)
2023 1.6% -15.2% 0.9% 3.00%
2022 -6.3% -10.9% 12.2% 82.99%
2021 -2.6% -10.8% 14.8% 82.81%
2020 2.3% -15.3% 0.6% 6.36%
2019 2.2% -44.4% 14.4% 91.41%

Total Return Ranking - Trailing

Period DFSHX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -59.5% 0.9% 13.59%
1 Yr 6.3% -16.6% 30.5% 18.96%
3 Yr 0.8%* -5.2% 10.9% 54.59%
5 Yr 1.1%* -2.8% 7.4% 56.70%
10 Yr 1.2%* -3.0% 3.6% 65.75%

* Annualized

Total Return Ranking - Calendar

Period DFSHX Return Category Return Low Category Return High Rank in Category (%)
2023 5.5% -15.2% 0.9% 3.00%
2022 -6.2% -10.9% 12.2% 82.99%
2021 -0.8% -10.8% 14.8% 82.81%
2020 2.3% -15.3% 3.8% 6.94%
2019 4.8% -44.4% 14.4% 88.96%

NAV & Total Return History


DFSHX - Holdings

Concentration Analysis

DFSHX Category Low Category High DFSHX % Rank
Net Assets 998 M 74.5 K 14.7 B 31.86%
Number of Holdings 423 4 4562 54.03%
Net Assets in Top 10 164 M -112 M 3.66 B 28.91%
Weighting of Top 10 16.38% 4.7% 100.0% 89.90%

Top 10 Holdings

  1. U.S. Treasury Floating Rate Notes 6.26%
  2. U.S. Treasury Floating Rate Notes 2.96%
  3. International Bank for Reconstruction Development 0.95%
  4. Inter-American Development Bank 0.94%
  5. DFA Investment Trust Co. 0.93%
  6. DFA Short Term Investment Fund 0.92%
  7. TWDC Enterprises 18 Corp. 0.92%
  8. Canadian Imperial Bank of Commerce 0.91%
  9. Simon Property Group LP 0.87%
  10. Royalty Pharma PLC 0.72%

Asset Allocation

Weighting Return Low Return High DFSHX % Rank
Bonds
88.36% 0.00% 220.33% 64.45%
Cash
10.73% -130.07% 95.62% 44.55%
Convertible Bonds
3.93% 0.00% 11.19% 10.43%
Stocks
0.93% 0.00% 7.47% 47.87%
Other
0.02% -9.71% 100.00% 30.33%
Preferred Stocks
0.00% 0.00% 2.87% 28.44%

Stock Sector Breakdown

Weighting Return Low Return High DFSHX % Rank
Utilities
0.00% 0.00% 91.33% N/A
Technology
0.00% 0.00% 21.64% N/A
Real Estate
0.00% 0.00% 3.17% N/A
Industrials
0.00% 0.00% 11.80% N/A
Healthcare
0.00% 0.00% 9.46% N/A
Financial Services
0.00% 0.00% 100.00% N/A
Energy
0.00% 0.00% 100.00% N/A
Communication Services
0.00% 0.00% 56.19% N/A
Consumer Defense
0.00% 0.00% 34.30% N/A
Consumer Cyclical
0.00% 0.00% 27.00% N/A
Basic Materials
0.00% 0.00% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High DFSHX % Rank
US
0.93% 0.00% 6.55% 42.18%
Non US
0.00% 0.00% 1.77% 26.54%

Bond Sector Breakdown

Weighting Return Low Return High DFSHX % Rank
Corporate
53.03% 0.00% 98.62% 13.46%
Government
22.39% 0.30% 99.47% 88.94%
Cash & Equivalents
10.73% 0.00% 95.62% 82.69%
Derivative
0.02% 0.00% 74.77% 22.12%
Securitized
0.00% 0.00% 52.02% 87.02%
Municipal
0.00% 0.00% 7.95% 50.96%

Bond Geographic Breakdown

Weighting Return Low Return High DFSHX % Rank
US
68.67% -5.52% 107.53% 42.65%
Non US
19.70% 0.00% 112.80% 69.19%

DFSHX - Expenses

Operational Fees

DFSHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.16% 0.02% 3.65% 98.09%
Management Fee 0.14% 0.00% 2.08% 1.46%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% 0.30%

Sales Fees

DFSHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.00% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DFSHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 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.

DFSHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 94.00% 6.00% 354.00% 64.50%

DFSHX - Distributions

Dividend Yield Analysis

DFSHX Category Low Category High DFSHX % Rank
Dividend Yield 3.73% 0.00% 17.40% 14.22%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

DFSHX Category Low Category High DFSHX % Rank
Net Income Ratio 0.80% -1.08% 5.77% 82.35%

Capital Gain Distribution Analysis

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

Distributions History

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DFSHX - Fund Manager Analysis

Managers

David Plecha


Start Date

Tenure

Tenure Rank

Jan 09, 2008

14.4

14.4%

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.

Lacey Huebel


Start Date

Tenure

Tenure Rank

Feb 28, 2021

1.25

1.3%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 28.31 6.8 3.67