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DFA Intermediate-Term Extended Quality Portfolio

mutual fund
DFTEX
Payout Change
Pending
Price as of:
$9.85 -0.06 -0.61%
primary theme
Corporate Bond
share class
DFTEX (Mutual Fund)

DFA Intermediate-Term Extended Quality Portfolio

Payout Change
Pending
Price as of:
$9.85 -0.06 -0.61%
primary theme
Corporate Bond
share class
DFTEX (Mutual Fund)

DFA Intermediate-Term Extended Quality Portfolio

Payout Change
Pending
Price as of:
$9.85 -0.06 -0.61%
primary theme
Corporate Bond
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

$9.85

$1.78 B

5.91%

$0.59

0.21%

Vitals

YTD Return

4.9%

1 yr return

14.7%

3 Yr Avg Return

-0.8%

5 Yr Avg Return

1.1%

Net Assets

$1.78 B

Holdings in Top 10

9.5%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.21%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 43.00%

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

$9.85

$1.78 B

5.91%

$0.59

0.21%

DFTEX - Profile

Distributions

  • YTD Total Return 4.9%
  • 3 Yr Annualized Total Return -0.8%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.44%
DIVIDENDS
  • Dividend Yield 5.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    DFA Intermediate-Term Extended Quality Portfolio
  • Fund Family Name
    Dimensional Funds
  • Inception Date
    Jul 20, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Plecha

Fund Description

The Intermediate-Term Extended Quality Portfolio seeks to maximize total returns from a universe of U.S. and foreign corporate debt securities with an investment grade credit rating (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”)).

In addition, the Portfolio may invest in obligations issued or guaranteed by the U.S. and foreign governments, their agencies and instrumentalities, bank obligations, repurchase agreements, money market funds, obligations of other domestic and foreign issuers having investment grade ratings, 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 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 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 Advisor expects that the Portfolio will primarily invest in the obligations of issuers that are in developed countries.

The Intermediate-Term Extended Quality Portfolio primarily invests in securities that mature within three to twenty years from the date of settlement. Under normal circumstances, the Portfolio will generally maintain a weighted average duration of no more than one quarter year greater than, and no less than one year below, the weighted average duration of the Bloomberg U.S. Credit Bond Index, which was approximately 6.92 years as of December 31, 2023. From time to time, the Portfolio may deviate from this duration range when the Advisor determines it to be appropriate under the circumstances. In any event, the Portfolio will ordinarily 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. As a non-fundamental policy, under normal circumstances, the Portfolio will invest at least 80% of its net assets in fixed income securities considered to be investment grade quality. 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 Intermediate-Term Extended Quality Portfolio’s investments may include foreign securities denominated in foreign currencies. The Portfolio intends to hedge foreign currency exposure to attempt to protect against uncertainty in the level of future foreign currency rates. The Portfolio may enter into foreign currency forward contracts 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 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 Intermediate-Term Extended Quality Portfolio may lend its portfolio securities to generate additional income.

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DFTEX - Performance

Return Ranking - Trailing

Period DFTEX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% 1.0% 7.7% 62.86%
1 Yr 14.7% 2.7% 21.9% 59.43%
3 Yr -0.8%* -9.6% 41.5% 21.26%
5 Yr 1.1%* -7.2% 25.9% 43.75%
10 Yr 2.8%* 0.3% 14.6% 36.00%

* Annualized

Return Ranking - Calendar

Period DFTEX Return Category Return Low Category Return High Rank in Category (%)
2023 5.4% -5.6% 6.3% 4.57%
2022 -18.8% -28.7% 142.1% 51.15%
2021 -5.9% -12.3% 4.9% 87.13%
2020 6.6% -8.0% 10.6% 32.34%
2019 9.9% 4.3% 13.4% 57.32%

Total Return Ranking - Trailing

Period DFTEX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% 1.0% 7.7% 62.86%
1 Yr 14.7% 2.7% 21.9% 59.43%
3 Yr -0.8%* -9.6% 41.5% 21.26%
5 Yr 1.1%* -7.2% 25.9% 43.75%
10 Yr 2.8%* 0.3% 14.6% 36.00%

* Annualized

Total Return Ranking - Calendar

Period DFTEX Return Category Return Low Category Return High Rank in Category (%)
2023 9.6% -5.6% 12.9% 12.00%
2022 -16.3% -25.6% 151.8% 59.20%
2021 -0.4% -5.1% 7.5% 38.01%
2020 10.3% -8.0% 116.0% 53.29%
2019 13.4% 6.7% 17.4% 71.97%

NAV & Total Return History


DFTEX - Holdings

Concentration Analysis

DFTEX Category Low Category High DFTEX % Rank
Net Assets 1.78 B 4.83 M 47.3 B 34.86%
Number of Holdings 531 4 10344 46.86%
Net Assets in Top 10 169 M -29.6 M 2.56 B 46.29%
Weighting of Top 10 9.49% 1.6% 143.7% 69.14%

Top 10 Holdings

  1. DFA Investment Trust Co. 2.00%
  2. DFA Short Term Investment Fund 1.97%
  3. Australia New Zealand Banking Group Ltd. 0.93%
  4. Westpac Banking Corp. 0.82%
  5. Commonwealth Bank of Australia 0.69%
  6. Svenska Handelsbanken AB 0.65%
  7. U.S. Treasury Notes 0.64%
  8. Cooperatieve Rabobank UA 0.62%
  9. Japan Government Five Year Bonds 0.59%
  10. U.S. Treasury Notes 0.59%

Asset Allocation

Weighting Return Low Return High DFTEX % Rank
Bonds
98.27% 0.00% 136.47% 30.29%
Stocks
2.00% 0.00% 99.97% 5.14%
Cash
1.97% -43.80% 45.89% 50.86%
Convertible Bonds
1.84% 0.00% 78.47% 85.71%
Other
0.10% -4.61% 11.28% 56.00%
Preferred Stocks
0.00% 0.00% 9.18% 31.43%

Stock Sector Breakdown

Weighting Return Low Return High DFTEX % Rank
Utilities
0.00% 0.00% 100.00% N/A
Technology
0.00% 0.00% 24.68% N/A
Real Estate
0.00% 0.00% 100.00% N/A
Industrials
0.00% 0.00% 8.34% N/A
Healthcare
0.00% 0.00% 14.32% N/A
Financial Services
0.00% 0.00% 100.00% N/A
Energy
0.00% 0.00% 4.21% N/A
Communication Services
0.00% 0.00% 8.64% N/A
Consumer Defense
0.00% 0.00% 7.33% N/A
Consumer Cyclical
0.00% 0.00% 11.22% N/A
Basic Materials
0.00% 0.00% 3.60% N/A

Stock Geographic Breakdown

Weighting Return Low Return High DFTEX % Rank
US
2.00% 0.00% 99.97% 5.14%
Non US
0.00% 0.00% 0.00% 17.14%

Bond Sector Breakdown

Weighting Return Low Return High DFTEX % Rank
Corporate
95.29% 41.80% 99.52% 14.86%
Government
4.34% 0.00% 25.63% 60.00%
Cash & Equivalents
1.97% 0.00% 45.89% 34.86%
Derivative
0.10% -2.67% 2.11% 25.14%
Securitized
0.00% 0.00% 23.18% 86.86%
Municipal
0.00% 0.00% 3.62% 68.00%

Bond Geographic Breakdown

Weighting Return Low Return High DFTEX % Rank
US
85.85% 0.00% 110.12% 91.43%
Non US
12.42% 0.00% 47.05% 6.29%

DFTEX - Expenses

Operational Fees

DFTEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.21% 0.03% 4.56% 87.21%
Management Fee 0.16% 0.00% 1.35% 12.57%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.45% 6.25%

Sales Fees

DFTEX 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

DFTEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

DFTEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 43.00% 0.00% 259.00% 31.21%

DFTEX - Distributions

Dividend Yield Analysis

DFTEX Category Low Category High DFTEX % Rank
Dividend Yield 5.91% 0.00% 6.00% 66.29%

Dividend Distribution Analysis

DFTEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

DFTEX Category Low Category High DFTEX % Rank
Net Income Ratio 2.44% 0.38% 5.93% 35.26%

Capital Gain Distribution Analysis

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

Distributions History

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DFTEX - Fund Manager Analysis

Managers

David Plecha


Start Date

Tenure

Tenure Rank

Jul 20, 2010

11.87

11.9%

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.

Lovell Shao


Start Date

Tenure

Tenure Rank

Feb 28, 2019

3.25

3.3%

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
0.33 24.76 6.74 4.41