DFA Investment Grade Portfolio
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.6%
1 yr return
8.1%
3 Yr Avg Return
-1.7%
5 Yr Avg Return
0.5%
Net Assets
$11.3 B
Holdings in Top 10
24.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.20%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 17.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DFAPX - Profile
Distributions
- YTD Total Return 2.6%
- 3 Yr Annualized Total Return -1.7%
- 5 Yr Annualized Total Return 0.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.02%
- Dividend Yield 3.4%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDFA Investment Grade Portfolio
-
Fund Family NameDimensional Funds
-
Inception DateMar 07, 2011
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid Plecha
Fund Description
The Investment Grade Portfolio seeks to achieve its investment objective through exposure to a broad portfolio of investment grade debt securities (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”)) of U.S. and non-U.S. corporate and government issuers. Dimensional Fund Advisors LP (the “Advisor”) expects that the Portfolio will primarily invest in the obligations of issuers that are in developed countries. As a non-fundamental policy, under normal circumstances, at least 80% of the Portfolio’s net assets will be invested in fixed income securities considered to be investment grade quality.
The Investment Grade 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 non-government securities depending on the expected credit premium.
The Investment Grade Portfolio invests in U.S. and foreign corporate debt securities with an investment grade credit rating. In addition, the Portfolio may invest in obligations issued or guaranteed by the U.S. and foreign governments, their agencies and instrumentalities, bank obligations, commercial paper, 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 may invest 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. 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 Investment Grade Portfolio primarily invests in securities that mature within 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. Aggregate Bond Index, which was approximately 6.24 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. 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 Investment Grade 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 Investment Grade Portfolio may lend its portfolio securities to generate additional income.
DFAPX - Performance
Return Ranking - Trailing
Period | DFAPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.6% | -5.8% | 11.5% | 64.48% |
1 Yr | 8.1% | -1.1% | 19.1% | 76.87% |
3 Yr | -1.7%* | -10.2% | 27.5% | 25.40% |
5 Yr | 0.5%* | -7.3% | 58.6% | 35.08% |
10 Yr | 1.9%* | -2.8% | 73.8% | 23.12% |
* Annualized
Return Ranking - Calendar
Period | DFAPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.3% | -16.2% | 8.1% | 8.00% |
2022 | -15.1% | -34.7% | 131.9% | 22.35% |
2021 | -4.7% | -11.6% | 4.4% | 90.57% |
2020 | 6.8% | -10.1% | 946.1% | 11.90% |
2019 | 7.1% | -1.7% | 16.9% | 7.45% |
Total Return Ranking - Trailing
Period | DFAPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.6% | -5.8% | 11.5% | 64.48% |
1 Yr | 8.1% | -1.1% | 19.1% | 76.87% |
3 Yr | -1.7%* | -10.2% | 27.5% | 25.40% |
5 Yr | 0.5%* | -7.3% | 58.6% | 35.08% |
10 Yr | 1.9%* | -2.8% | 73.8% | 23.12% |
* Annualized
Total Return Ranking - Calendar
Period | DFAPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.8% | -11.3% | 11.9% | 23.38% |
2022 | -12.9% | -32.2% | 131.9% | 27.07% |
2021 | -2.1% | -9.4% | 9.2% | 89.14% |
2020 | 9.2% | -1.9% | 1009.0% | 30.27% |
2019 | 10.0% | 1.1% | 21668.0% | 20.21% |
NAV & Total Return History
DFAPX - Holdings
Concentration Analysis
DFAPX | Category Low | Category High | DFAPX % Rank | |
---|---|---|---|---|
Net Assets | 11.3 B | 2.9 M | 314 B | 16.16% |
Number of Holdings | 884 | 1 | 17787 | 44.77% |
Net Assets in Top 10 | 2.79 B | 1.62 M | 35.1 B | 14.55% |
Weighting of Top 10 | 24.74% | 4.4% | 432.9% | 43.93% |
Top 10 Holdings
- DFA Investment Trust Co. 6.87%
- DFA Short Term Investment Fund 6.66%
- Federal National Mortgage Association 1.54%
- U.S. Treasury Floating Rate Notes 1.46%
- U.S. Treasury Floating Rate Notes 1.45%
- U.S. Treasury Floating Rate Notes 1.42%
- U.S. Treasury Floating Rate Notes 1.42%
- U.S. Treasury Floating Rate Notes 1.42%
- U.S. Treasury Floating Rate Notes 1.33%
- U.S. Treasury Bonds 1.18%
Asset Allocation
Weighting | Return Low | Return High | DFAPX % Rank | |
---|---|---|---|---|
Bonds | 97.06% | 0.00% | 993.61% | 41.21% |
Cash | 7.32% | -54.51% | 237.69% | 20.80% |
Stocks | 6.87% | 0.00% | 99.99% | 3.99% |
Convertible Bonds | 1.52% | 0.00% | 7.93% | 47.37% |
Other | 0.05% | -16.55% | 52.94% | 78.48% |
Preferred Stocks | 0.00% | 0.00% | 71.02% | 64.65% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DFAPX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | N/A |
Technology | 0.00% | 0.00% | 43.45% | N/A |
Real Estate | 0.00% | 0.00% | 99.26% | N/A |
Industrials | 0.00% | 0.00% | 48.31% | N/A |
Healthcare | 0.00% | 0.00% | 17.70% | 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% | 100.00% | N/A |
Consumer Defense | 0.00% | 0.00% | 99.67% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
Basic Materials | 0.00% | 0.00% | 100.00% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DFAPX % Rank | |
---|---|---|---|---|
US | 6.87% | 0.00% | 99.99% | 4.00% |
Non US | 0.00% | 0.00% | 86.16% | 52.56% |
Bond Sector Breakdown
Weighting | Return Low | Return High | DFAPX % Rank | |
---|---|---|---|---|
Corporate | 56.11% | 0.00% | 100.00% | 5.16% |
Government | 43.73% | 0.00% | 86.23% | 8.15% |
Cash & Equivalents | 7.32% | -0.46% | 237.69% | 21.41% |
Derivative | 0.05% | -1.58% | 44.82% | 43.34% |
Securitized | 0.00% | 0.00% | 98.40% | 99.38% |
Municipal | 0.00% | 0.00% | 100.00% | 86.38% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | DFAPX % Rank | |
---|---|---|---|---|
US | 89.43% | 0.00% | 993.61% | 68.75% |
Non US | 7.64% | 0.00% | 30.95% | 5.23% |
DFAPX - Expenses
Operational Fees
DFAPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.20% | 0.01% | 39.64% | 94.64% |
Management Fee | 0.16% | 0.00% | 1.76% | 7.97% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.50% | 1.16% |
Sales Fees
DFAPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
DFAPX 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.
DFAPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 17.00% | 2.00% | 493.39% | 2.63% |
DFAPX - Distributions
Dividend Yield Analysis
DFAPX | Category Low | Category High | DFAPX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.40% | 0.00% | 10.11% | 78.83% |
Dividend Distribution Analysis
DFAPX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
DFAPX | Category Low | Category High | DFAPX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.02% | -1.28% | 4.79% | 30.13% |
Capital Gain Distribution Analysis
DFAPX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 27, 2024 | $0.085 | OrdinaryDividend |
Mar 27, 2024 | $0.052 | OrdinaryDividend |
Dec 13, 2023 | $0.136 | OrdinaryDividend |
Sep 28, 2023 | $0.070 | OrdinaryDividend |
Jun 29, 2023 | $0.065 | OrdinaryDividend |
Mar 30, 2023 | $0.061 | OrdinaryDividend |
Dec 14, 2022 | $0.071 | OrdinaryDividend |
Sep 29, 2022 | $0.066 | OrdinaryDividend |
Jun 29, 2022 | $0.065 | OrdinaryDividend |
Mar 30, 2022 | $0.053 | OrdinaryDividend |
Dec 15, 2021 | $0.059 | OrdinaryDividend |
Dec 15, 2021 | $0.002 | CapitalGainShortTerm |
Dec 15, 2021 | $0.099 | CapitalGainLongTerm |
Sep 29, 2021 | $0.060 | OrdinaryDividend |
Jun 29, 2021 | $0.057 | OrdinaryDividend |
Mar 30, 2021 | $0.039 | OrdinaryDividend |
Dec 16, 2020 | $0.083 | OrdinaryDividend |
Dec 16, 2020 | $0.002 | CapitalGainShortTerm |
Sep 29, 2020 | $0.069 | OrdinaryDividend |
Jun 29, 2020 | $0.042 | OrdinaryDividend |
Mar 30, 2020 | $0.061 | OrdinaryDividend |
Dec 17, 2019 | $0.094 | OrdinaryDividend |
Sep 27, 2019 | $0.069 | OrdinaryDividend |
Jun 27, 2019 | $0.076 | OrdinaryDividend |
Mar 28, 2019 | $0.052 | OrdinaryDividend |
Dec 18, 2018 | $0.095 | OrdinaryDividend |
Sep 27, 2018 | $0.069 | OrdinaryDividend |
Jun 28, 2018 | $0.071 | OrdinaryDividend |
Mar 28, 2018 | $0.045 | OrdinaryDividend |
Dec 15, 2017 | $0.079 | OrdinaryDividend |
Sep 28, 2017 | $0.044 | OrdinaryDividend |
Jun 29, 2017 | $0.061 | OrdinaryDividend |
Mar 30, 2017 | $0.056 | OrdinaryDividend |
Dec 15, 2016 | $0.070 | OrdinaryDividend |
Sep 29, 2016 | $0.046 | OrdinaryDividend |
Jun 29, 2016 | $0.054 | OrdinaryDividend |
Mar 30, 2016 | $0.057 | OrdinaryDividend |
Dec 16, 2015 | $0.062 | OrdinaryDividend |
Dec 16, 2015 | $0.034 | CapitalGainLongTerm |
Sep 09, 2015 | $0.063 | OrdinaryDividend |
Jun 08, 2015 | $0.063 | OrdinaryDividend |
Mar 09, 2015 | $0.039 | OrdinaryDividend |
Dec 16, 2014 | $0.089 | OrdinaryDividend |
Dec 16, 2014 | $0.000 | CapitalGainLongTerm |
Sep 09, 2014 | $0.061 | OrdinaryDividend |
Jun 09, 2014 | $0.067 | OrdinaryDividend |
Mar 10, 2014 | $0.043 | OrdinaryDividend |
Dec 12, 2013 | $0.083 | OrdinaryDividend |
Dec 12, 2013 | $0.002 | CapitalGainLongTerm |
Sep 10, 2013 | $0.056 | OrdinaryDividend |
Jun 10, 2013 | $0.066 | OrdinaryDividend |
Mar 08, 2013 | $0.031 | OrdinaryDividend |
Dec 13, 2012 | $0.084 | OrdinaryDividend |
Dec 13, 2012 | $0.010 | CapitalGainLongTerm |
Sep 10, 2012 | $0.063 | OrdinaryDividend |
Jun 08, 2012 | $0.065 | OrdinaryDividend |
Mar 08, 2012 | $0.037 | OrdinaryDividend |
Dec 13, 2011 | $0.093 | OrdinaryDividend |
Dec 13, 2011 | $0.001 | CapitalGainShortTerm |
Sep 08, 2011 | $0.069 | OrdinaryDividend |
Jun 08, 2011 | $0.064 | OrdinaryDividend |
DFAPX - Fund Manager Analysis
Managers
David Plecha
Start Date
Tenure
Tenure Rank
Mar 07, 2011
11.24
11.2%
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 |
---|---|---|---|
0.08 | 33.43 | 6.79 | 1.16 |