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DIMENSIONAL 2020 TARGET DATE RETIREMENT INCOME FUND

mutual fund
DRIRX
Payout Change
Pending
Price as of:
$11.34 -0.05 -0.44%
primary theme
Target-Date 2020
share class
DRIRX (Mutual Fund)

DIMENSIONAL 2020 TARGET DATE RETIREMENT INCOME FUND

Payout Change
Pending
Price as of:
$11.34 -0.05 -0.44%
primary theme
Target-Date 2020
share class
DRIRX (Mutual Fund)

DIMENSIONAL 2020 TARGET DATE RETIREMENT INCOME FUND

Payout Change
Pending
Price as of:
$11.34 -0.05 -0.44%
primary theme
Target-Date 2020
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

$11.34

$76.9 M

1.75%

$0.20

0.20%

Vitals

YTD Return

7.4%

1 yr return

16.9%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

4.4%

Net Assets

$76.9 M

Holdings in Top 10

100.0%

52 WEEK LOW AND HIGH

$11.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.20%

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 10/04/2024

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

$11.34

$76.9 M

1.75%

$0.20

0.20%

DRIRX - Profile

Distributions

  • YTD Total Return 7.4%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.60%
DIVIDENDS
  • Dividend Yield 1.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    DIMENSIONAL 2020 TARGET DATE RETIREMENT INCOME FUND
  • Fund Family Name
    Dimensional Funds
  • Inception Date
    Nov 02, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jed Fogdall

Fund Description

The 2020 Target Date Portfolio is designed for an investor currently in retirement. To achieve its investment objective, the Portfolio allocates its assets to other mutual funds managed by Dimensional Fund Advisors LP (the “Advisor”) (i.e., the Underlying Funds) according to an asset allocation strategy designed for investors that retired in or within a few years of 2020 (the target date) and are planning to withdraw the value of the investment in the Portfolio over many years after the target date. Over time, the Portfolio’s allocation to the Underlying Funds is expected to change based on an asset allocation strategy that generally becomes more conservative (reducing its allocation to equity Underlying Funds and increasing its allocation to fixed income Underlying Funds) until reaching the “landing point,” which is 15 years after the target date (i.e., 2035 in the case of the Portfolio), at which time the Portfolio reaches its final static asset allocation. At the final landing point, the Portfolio is expected to reach a final static asset allocation of 15% to 25% of its assets allocated to domestic and international equity Underlying Funds and 75% to 85% of its assets allocated to fixed income Underlying Funds. The asset allocation strategy for the Portfolio reflects the need for reduced equity risk and lower volatility of the inflation-adjusted income the Portfolio may be able to support in retirement in the years beyond the retirement target date. When the Portfolio reaches the landing point, it is expected that the Advisor will recommend that the Board of Directors of the Portfolio approve combining the Portfolio with the Dimensional Retirement Income Fund, another fund managed by the Advisor, which is expected to have approximately the same asset allocation as the Portfolio at that time.

As of February 28, 2024, the 2020 Target Date Portfolio has a target allocation of 15% to 35% to equity Underlying Funds and a target allocation of approximately 65% to 85% to fixed income Underlying Funds, which may include exposure through those fixed income Underlying Funds to long-term and intermediate-term U.S. Treasury Inflation-Protected Securities (“TIPS”). As of February 28, 2024, the Portfolio may invest in: (1) domestic equity Underlying Funds that purchase a broad and diverse portfolio of securities of U.S. operating companies; (2) international equity Underlying Funds that purchase a broad and diverse portfolio of securities of companies in developed and emerging markets; and (3) fixed income Underlying Funds that may purchase U.S. and foreign debt securities such as obligations issued or guaranteed by the U.S. and foreign governments, their agencies and instrumentalities, long-, intermediate- and short-term TIPS, bank obligations, commercial paper, repurchase agreements, money market funds, obligations of other domestic and foreign issuers, securities of domestic and foreign issuers denominated in U.S. dollars but not trading in the United States, obligations of supranational organizations, and inflation-protected securities. The fixed income Underlying Funds primarily invest in securities that are considered investment grade at the time of purchase and which have a range of maturities, including ultra-short, intermediate, and long-term. Certain equity Underlying Funds purchase a broad and diverse group of securities of companies with a greater emphasis on smaller capitalization, lower relative price, and higher profitability companies as compared to their representation in the universe of securities such Underlying Funds invest in. A summary of the investment strategies and policies of the Underlying Funds in which the invests as of the date of this Prospectus is described in the Portfolio’s Prospectus in the section entitled “ADDITIONAL INFORMATION ON INVESTMENT OBJECTIVES AND POLICIES.”

The 2020 Target Date Portfolio and each Underlying Fund may purchase or sell futures contracts and options on futures contracts, to adjust market exposure based on actual or expected cash inflows to or outflows from the Portfolio or Underlying Fund. Certain Underlying Funds may enter into foreign currency exchange transactions, including foreign currency forward contracts, in connection with the settlement of foreign securities, to hedge foreign currency risks, to hedge against fluctuations in currency exchange rates or to transfer balances from one currency to another. Certain Underlying Funds also may enter into swaps to hedge against inflation risk associated with certain securities. Certain Underlying Funds also may purchase or sell futures contracts and options on futures contracts, to hedge their interest rate exposure. Also, the Portfolio and the Underlying Funds may lend their portfolio securities to generate additional income.

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DRIRX - Performance

Return Ranking - Trailing

Period DRIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% 7.3% 13.7% 99.26%
1 Yr 16.9% 15.8% 25.5% 99.26%
3 Yr -0.4%* -0.8% 5.2% 99.25%
5 Yr 4.4%* 1.8% 7.8% 92.74%
10 Yr N/A* 4.0% 6.8% N/A

* Annualized

Return Ranking - Calendar

Period DRIRX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% 3.8% 11.5% 100.00%
2022 -23.2% -32.2% -12.0% 85.07%
2021 2.4% -9.5% 12.0% 28.00%
2020 12.6% -12.1% 12.6% 0.81%
2019 12.7% -0.2% 15.3% 23.08%

Total Return Ranking - Trailing

Period DRIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% 7.3% 13.7% 99.26%
1 Yr 16.9% 15.8% 25.5% 99.26%
3 Yr -0.4%* -0.8% 5.2% 99.25%
5 Yr 4.4%* 1.8% 7.8% 92.74%
10 Yr N/A* 4.0% 6.8% N/A

* Annualized

Total Return Ranking - Calendar

Period DRIRX Return Category Return Low Category Return High Rank in Category (%)
2023 7.6% 7.6% 15.6% 100.00%
2022 -17.6% -23.3% -11.0% 96.27%
2021 10.1% 4.1% 16.5% 24.00%
2020 16.1% -6.0% 16.1% 0.81%
2019 15.6% 12.6% 21.7% 81.20%

NAV & Total Return History


DRIRX - Holdings

Concentration Analysis

DRIRX Category Low Category High DRIRX % Rank
Net Assets 76.9 M 5.92 M 38.2 B 79.26%
Number of Holdings 8 7 612 94.81%
Net Assets in Top 10 77 M 2.97 M 37.2 B 79.26%
Weighting of Top 10 100.01% 50.9% 101.2% 2.22%

Top 10 Holdings

  1. DFA Inflation-Protected Securities Portfolio 63.23%
  2. DFA LTIP Portfolio 11.93%
  3. DFA U.S. Core Equity 1 Portfolio 8.88%
  4. DFA U.S. Large Company Portfolio 8.82%
  5. DFA Large Cap International Portfolio 3.30%
  6. DFA Emerging Markets Core Equity Portfolio 2.11%
  7. DFA International Core Equity Portfolio 1.65%
  8. State Street Institutional US Government Money Market Fund 0.09%

Asset Allocation

Weighting Return Low Return High DRIRX % Rank
Stocks
99.93% 0.00% 101.14% 13.33%
Cash
0.09% 0.00% 35.78% 81.48%
Preferred Stocks
0.00% 0.00% 0.04% 85.19%
Other
0.00% -0.02% 4.41% 88.89%
Convertible Bonds
0.00% 0.00% 1.38% 100.00%
Bonds
0.00% 0.00% 47.82% 91.11%

Stock Sector Breakdown

Weighting Return Low Return High DRIRX % Rank
Technology
19.46% 13.94% 23.92% 21.48%
Financial Services
14.98% 12.26% 19.15% 55.56%
Healthcare
11.73% 10.66% 15.12% 78.52%
Industrials
11.56% 8.53% 12.76% 25.93%
Consumer Cyclical
11.17% 7.73% 13.31% 42.96%
Consumer Defense
7.63% 4.92% 10.96% 14.81%
Communication Services
7.50% 5.56% 9.97% 31.85%
Basic Materials
5.95% 3.04% 7.27% 27.41%
Energy
5.19% 2.44% 8.11% 37.78%
Utilities
2.96% 1.91% 7.99% 45.93%
Real Estate
1.87% 1.87% 16.02% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High DRIRX % Rank
US
99.93% 0.00% 101.14% 13.33%
Non US
0.00% 0.00% 13.95% 85.19%

DRIRX - Expenses

Operational Fees

DRIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.20% 0.05% 23.79% 94.78%
Management Fee 0.00% 0.00% 0.61% 33.58%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.28% 2.67%

Sales Fees

DRIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

DRIRX 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.

DRIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 5.00% 137.00% N/A

DRIRX - Distributions

Dividend Yield Analysis

DRIRX Category Low Category High DRIRX % Rank
Dividend Yield 1.75% 0.00% 7.03% 19.26%

Dividend Distribution Analysis

DRIRX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual SemiAnnual Annual

Net Income Ratio Analysis

DRIRX Category Low Category High DRIRX % Rank
Net Income Ratio 3.60% 0.16% 3.78% 2.27%

Capital Gain Distribution Analysis

DRIRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

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DRIRX - Fund Manager Analysis

Managers

Jed Fogdall


Start Date

Tenure

Tenure Rank

Nov 02, 2015

6.58

6.6%

Jed S. Fogdall is a Co-Head of Portfolio Management and Vice President of Dimensional and a member of Dimensional’s Investment Committee. Mr. Fogdall has an MBA from the University of California, Los Angeles and a BS from Purdue University. Mr. Fogdall joined Dimensional as a Portfolio Manager in 2004 and has been responsible for international portfolios since 2010 and domestic portfolios since 2012.

Allen Pu


Start Date

Tenure

Tenure Rank

Nov 02, 2015

6.58

6.6%

Allen Pu is Deputy Head of Portfolio Management, North America, a member of the Investment Commit- tee, Vice President and a Senior Portfolio Manager of the Sub-Adviser. Mr. Pu joined Dimensional as a Portfolio Manager in 2006. Mr. Pu has an M.B.A. from the University of California, Los Angeles, an M.S. and Ph.D. from Caltech, and a B.S. from Cooper Union for the Advancement of Science and Art.

David Plecha


Start Date

Tenure

Tenure Rank

Nov 02, 2015

6.58

6.6%

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

Nov 02, 2015

6.58

6.6%

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.

Mary Phillips


Start Date

Tenure

Tenure Rank

Feb 28, 2017

5.25

5.3%

Mary T. Phillips, CFA, Deputy Head of Portfolio Management, North America, Senior Portfolio Manager and Vice President of Dimensional, joined Dimensional in 2012 and has been a portfolio manager since 2014. Ms. Phillips began managing Dimensional’s allocated portion of the Fund’s portfolio in March 2018. Ms. Phillips earned an MBA with concentration in analytic finance, statistics and econometrics, and managerial and organizational behavior from the University of Chicago and a BA from the University of Puget Sound.

Ashish Bhagwanjee


Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

Mr. Bhagwanjee is a Vice President and Senior Portfolio Manager of the Dimensional Fund Advisors LP. Mr. Bhagwanjee holds an MBA from the University of Chicago and a BS from Purdue University. Mr. Bhagwanjee joined the Dimensional in 2014, has been a portfolio manager since 2017.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 16.18 5.95 2.41