DFA Selectively Hedged Global Fixed Income Portfolio
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
4.8%
1 yr return
6.1%
3 Yr Avg Return
1.1%
5 Yr Avg Return
1.1%
Net Assets
$998 M
Holdings in Top 10
16.4%
52 WEEK LOW AND HIGH
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 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DFSHX - Profile
Distributions
- YTD Total Return 4.8%
- 3 Yr Annualized Total Return 1.1%
- 5 Yr Annualized Total Return 1.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.80%
- Dividend Yield 3.7%
- Dividend Distribution Frequency Annual
Fund Details
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Legal NameDFA Selectively Hedged Global Fixed Income Portfolio
-
Fund Family NameDimensional Funds
-
Inception DateMar 31, 2008
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid 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.
DFSHX - Performance
Return Ranking - Trailing
Period | DFSHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.8% | -59.5% | 0.9% | 18.93% |
1 Yr | 6.1% | -15.5% | 19.7% | 21.15% |
3 Yr | 1.1%* | -4.3% | 4.2% | 57.71% |
5 Yr | 1.1%* | -2.5% | 4.1% | 60.64% |
10 Yr | 1.3%* | -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 | 4.8% | -59.5% | 0.9% | 13.59% |
1 Yr | 6.1% | -16.6% | 30.5% | 18.96% |
3 Yr | 1.1%* | -5.2% | 10.9% | 54.59% |
5 Yr | 1.1%* | -2.8% | 7.4% | 56.70% |
10 Yr | 1.3%* | -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
- U.S. Treasury Floating Rate Notes 6.26%
- U.S. Treasury Floating Rate Notes 2.96%
- International Bank for Reconstruction Development 0.95%
- Inter-American Development Bank 0.94%
- DFA Investment Trust Co. 0.93%
- DFA Short Term Investment Fund 0.92%
- TWDC Enterprises 18 Corp. 0.92%
- Canadian Imperial Bank of Commerce 0.91%
- Simon Property Group LP 0.87%
- 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 | 3.72% | 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
Date | Amount | Type |
---|---|---|
Dec 11, 2023 | $0.355 | OrdinaryDividend |
Dec 12, 2022 | $0.004 | OrdinaryDividend |
Dec 13, 2021 | $0.169 | OrdinaryDividend |
Dec 14, 2020 | $0.003 | OrdinaryDividend |
Dec 16, 2019 | $0.241 | OrdinaryDividend |
Dec 17, 2018 | $0.303 | OrdinaryDividend |
Dec 14, 2017 | $0.166 | OrdinaryDividend |
Dec 14, 2016 | $0.154 | OrdinaryDividend |
Dec 15, 2015 | $0.103 | OrdinaryDividend |
Dec 15, 2014 | $0.153 | OrdinaryDividend |
Sep 09, 2014 | $0.001 | OrdinaryDividend |
Dec 11, 2013 | $0.015 | CapitalGainShortTerm |
Dec 11, 2013 | $0.001 | CapitalGainLongTerm |
Dec 11, 2013 | $0.121 | OrdinaryDividend |
Dec 12, 2012 | $0.007 | CapitalGainShortTerm |
Dec 12, 2012 | $0.248 | OrdinaryDividend |
Dec 12, 2011 | $0.344 | OrdinaryDividend |
Dec 12, 2011 | $0.007 | CapitalGainShortTerm |
Dec 12, 2011 | $0.006 | CapitalGainLongTerm |
Dec 08, 2010 | $0.110 | OrdinaryDividend |
Dec 08, 2010 | $0.001 | CapitalGainShortTerm |
Dec 08, 2010 | $0.033 | CapitalGainLongTerm |
Dec 08, 2009 | $0.008 | CapitalGainLongTerm |
Dec 09, 2008 | $0.201 | OrdinaryDividend |
Mar 10, 2008 | $0.026 | OrdinaryDividend |
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 |