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Selectively Hedged Global Equity Portfolio

mutual fund
DSHGX
Payout Change
Pending
Price as of:
$22.63 +0.23 +1.03%
primary theme
N/A
share class
DSHGX (Mutual Fund)

Selectively Hedged Global Equity Portfolio

Payout Change
Pending
Price as of:
$22.63 +0.23 +1.03%
primary theme
N/A
share class
DSHGX (Mutual Fund)

Selectively Hedged Global Equity Portfolio

Payout Change
Pending
Price as of:
$22.63 +0.23 +1.03%
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

$22.63

$299 M

2.08%

$0.47

0.52%

Vitals

YTD Return

17.4%

1 yr return

30.9%

3 Yr Avg Return

9.1%

5 Yr Avg Return

13.0%

Net Assets

$299 M

Holdings in Top 10

99.1%

52 WEEK LOW AND HIGH

$22.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.52%

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

$22.63

$299 M

2.08%

$0.47

0.52%

DSHGX - Profile

Distributions

  • YTD Total Return 17.4%
  • 3 Yr Annualized Total Return 9.1%
  • 5 Yr Annualized Total Return 13.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.60%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Selectively Hedged Global Equity Portfolio
  • Fund Family Name
    Dimensional Funds
  • Inception Date
    Nov 14, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jed Fogdall

Fund Description

The Selectively Hedged Global Equity Portfolio is a “fund of funds,” which means that the Portfolio generally allocates its assets among other mutual funds managed by the Advisor although it also has the ability to invest directly in securities and derivatives. To achieve the Portfolio’s and the Underlying Funds’ investment objectives, the Advisor implements an integrated investment approach that combines research, portfolio design, portfolio management, and trading functions. As further described below, the Portfolio’s and the Underlying Funds’ designs emphasize long-term drivers of expected returns identified by the Advisor’s research, while balancing risk through broad diversification across companies and sectors. The Advisor’s portfolio management and trading processes further balance those long-term drivers of expected returns with shorter-term drivers of expected returns and trading costs.

The Selectively Hedged Global Equity Portfolio is designed to provide exposure to a broad portfolio of equity securities of both U.S. companies and non-U.S. companies associated with countries with developed and emerging markets, including frontier markets (emerging markets in an earlier stage of development), by primarily purchasing shares of the U.S. Core Equity 2 Portfolio, International Core Equity Portfolio and Emerging Markets Core Equity Portfolio (the “Underlying Funds”). The Underlying Funds may have increased exposure to smaller capitalization, lower relative price and/or higher profitability companies as compared to their representation in the countries and/or regions in which they are authorized to invest. Periodically, the Advisor will review the allocations for the Portfolio in each Underlying Fund and may adjust allocations to the Underlying Funds or may add or remove Underlying Funds in the Portfolio without notice to shareholders. The Advisor may consider the relative market capitalization weighting of developed and emerging markets within the universe of eligible securities along with other factors, including different valuation ratios and/or profitability, when allocating Portfolio investments among the Underlying Funds or securities. The Portfolio may have exposure to companies in all the market capitalization ranges. An equity issuer is considered to have a low relative price (i.e., a value stock) primarily because it has a low price in relation to its book value. In assessing relative price, the Advisor may consider additional factors such as price to cash flow or price to earnings ratios. An equity issuer is considered to have high profitability because it has high earnings or profits from operations in relation to its book value or assets. The criteria the Advisor uses for assessing relative price and profitability are subject to change from time to time.

As a non-fundamental policy, under normal circumstances, at least 80% of the Selectively Hedged Global Equity Portfolio’s net assets will be invested directly, or indirectly through its investment in the Underlying Funds, in equity securities or investments that provide exposure to equity securities. In addition to, or in place of, investments in the Underlying Funds, the Portfolio is permitted to invest directly in the same types of equity securities of U.S. and non-U.S. companies that are eligible investments for the Underlying Funds. The Portfolio, directly or indirectly through its investment in the Underlying Funds, intends to invest its assets to gain exposure to at least three different countries, including the United States. The Advisor will generally seek to set country weights based on the relative market capitalizations of eligible companies within each approved market of the Underlying Funds. As of the date of the Prospectus, the Portfolio, directly or indirectly through its investment in the Underlying Funds, invests approximately 58% of its net assets in U.S. companies. This percentage will change due to market conditions.

The Advisor may also increase or reduce the Selectively Hedged Global Equity Portfolio’s and/or Underlying Funds’ exposure to an eligible company, or exclude a company, based on shorter-term considerations, such as a company’s price momentum, short-run reversals, and investment characteristics. In assessing a company’s investment characteristics, the Advisor considers ratios such as recent changes in assets divided by total assets. The criteria the Advisor uses for assessing a company’s investment characteristics are subject to change from time to time. In addition, the Advisor seeks to reduce trading costs using a flexible trading approach that looks for opportunities to participate in the available market liquidity, while managing turnover and explicit transaction costs.

The Selectively Hedged Global Equity Portfolio invests directly or indirectly through its investment in the Underlying Funds in securities that may be denominated in foreign currencies. The Portfolio may hedge some or all of the currency exposure of the foreign securities by entering into foreign currency forward contracts, futures or other derivatives. Currencies may be hedged against the U.S. dollar or non-U.S. dollar currencies. 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 and each Underlying Fund also may purchase or sell futures contracts and options on futures contracts to increase or decrease equity market exposure based on actual or expected cash

inflows to or outflows from the Portfolio or Underlying Fund. In order to meet payment obligations with respect to such derivative transactions, the Portfolio may hold short-term fixed income obligations.

The Selectively Hedged Global Equity Portfolio and Underlying Funds may lend their portfolio securities to generate additional income.

A summary of the investment strategies and policies of the Underlying Funds in which the Selectively Hedged Global Equity Portfolio invests as of the date of this Prospectus (other than the Underlying Funds that are included elsewhere in the Portfolio’s Prospectus) is described in the Portfolio’s Prospectus in the section entitled “ADDITIONAL INFORMATION ON INVESTMENT OBJECTIVES AND POLICIES”.

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DSHGX - Performance

Return Ranking - Trailing

Period DSHGX Return Category Return Low Category Return High Rank in Category (%)
YTD 17.4% -35.6% 29.2% 10.18%
1 Yr 30.9% 17.3% 252.4% 20.80%
3 Yr 9.1%* -3.5% 34.6% 56.45%
5 Yr 13.0%* 0.1% 32.7% 45.64%
10 Yr 9.7%* -6.9% 18.3% N/A

* Annualized

Return Ranking - Calendar

Period DSHGX Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% -24.3% 957.1% 61.82%
2022 -20.3% -38.3% 47.1% 48.67%
2021 14.0% -54.2% 0.6% 55.45%
2020 9.6% -76.0% 54.1% 49.78%
2019 22.0% -26.1% 47.8% 4.31%

Total Return Ranking - Trailing

Period DSHGX Return Category Return Low Category Return High Rank in Category (%)
YTD 17.4% -35.6% 29.2% 10.29%
1 Yr 30.9% 11.4% 252.4% 19.20%
3 Yr 9.1%* -3.5% 34.6% 54.14%
5 Yr 13.0%* 0.1% 32.7% 44.16%
10 Yr 9.7%* -6.9% 18.3% N/A

* Annualized

Total Return Ranking - Calendar

Period DSHGX Return Category Return Low Category Return High Rank in Category (%)
2023 20.1% -24.3% 957.1% 61.82%
2022 -12.9% -33.1% 47.1% 49.05%
2021 21.6% -44.4% 1.8% 69.72%
2020 12.0% -6.5% 54.1% 47.29%
2019 25.0% -14.4% 47.8% 2.55%

NAV & Total Return History


DSHGX - Holdings

Concentration Analysis

DSHGX Category Low Category High DSHGX % Rank
Net Assets 299 M 199 K 133 B 57.35%
Number of Holdings 22 1 9075 91.41%
Net Assets in Top 10 296 M -18 M 37.6 B 31.06%
Weighting of Top 10 99.06% 9.1% 100.0% 2.28%

Top 10 Holdings

  1. DFA U.S. Core Equity 2 Portfolio 57.74%
  2. DFA International Core Equity Portfolio 24.52%
  3. DFA Emerging Markets Core Equity Portfolio 16.71%
  4. Purchased USD / Sold AUD 0.04%
  5. Future 0.01%
  6. Purchased USD / Sold SEK 0.01%
  7. Purchased GBP / Sold USD 0.01%
  8. Purchased USD / Sold EUR 0.01%
  9. Purchased JPY / Sold USD 0.01%
  10. Purchased USD / Sold CAD 0.00%

Asset Allocation

Weighting Return Low Return High DSHGX % Rank
Stocks
98.97% 61.84% 125.47% 68.94%
Cash
1.40% -174.70% 23.12% 24.34%
Preferred Stocks
0.00% -0.01% 5.28% 16.30%
Convertible Bonds
0.00% 0.00% 4.46% 80.18%
Bonds
0.00% -1.50% 161.67% 80.84%
Other
-0.37% -13.98% 19.14% 25.55%

Stock Sector Breakdown

Weighting Return Low Return High DSHGX % Rank
Technology
17.43% 0.00% 49.87% 65.75%
Financial Services
15.90% 0.00% 38.42% 39.65%
Industrials
14.21% 0.00% 44.06% 13.66%
Consumer Cyclical
11.40% 0.00% 40.94% 35.79%
Healthcare
9.52% 0.00% 35.42% 83.81%
Basic Materials
8.05% 0.00% 38.60% 9.69%
Consumer Defense
7.24% 0.00% 73.28% 56.39%
Communication Services
6.59% 0.00% 57.66% 64.21%
Energy
5.61% 0.00% 21.15% 20.26%
Utilities
2.54% 0.00% 29.12% 43.61%
Real Estate
1.51% 0.00% 39.48% 47.58%

Stock Geographic Breakdown

Weighting Return Low Return High DSHGX % Rank
US
98.97% 0.13% 103.82% 73.35%
Non US
0.00% 0.58% 99.46% 25.99%

DSHGX - Expenses

Operational Fees

DSHGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.52% 0.01% 44.27% 95.32%
Management Fee 0.24% 0.00% 1.82% 8.32%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.76% 2.02%

Sales Fees

DSHGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DSHGX 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.

DSHGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 395.00% N/A

DSHGX - Distributions

Dividend Yield Analysis

DSHGX Category Low Category High DSHGX % Rank
Dividend Yield 2.08% 0.00% 3.26% 80.20%

Dividend Distribution Analysis

DSHGX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Annually Annually

Net Income Ratio Analysis

DSHGX Category Low Category High DSHGX % Rank
Net Income Ratio 1.60% -4.27% 12.65% 20.23%

Capital Gain Distribution Analysis

DSHGX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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DSHGX - Fund Manager Analysis

Managers

Jed Fogdall


Start Date

Tenure

Tenure Rank

Nov 14, 2011

10.55

10.6%

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.

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.

Allen Pu


Start Date

Tenure

Tenure Rank

Feb 28, 2017

5.25

5.3%

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.

Ashish Bhagwanjee


Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

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
0.01 35.82 6.24 1.25