Strategies /
Inflation-Protected Securities Portfolio (I)
| Inception Date | Ticker Symbol | CUSIP Number |
| September 18, 2006 | DIPSX | 233-203-355 |
The investment objective of the DFA Inflation-Protected Securities Portfolio is to provide inflation protection and earn current income consistent with preservation of capital. Ordinarily, the Portfolio will invest at least 80% of its net assets in inflation-protected securities issued by the US government and its agencies and instrumentalities. Generally, the Portfolio will purchase securities with maturities of between five and twenty years. The Portfolio will not shift the maturity of its investments in anticipation of interest rate movements and ordinarily will have an average weighted maturity, based upon market values, of between three and twelve years.
For a full description, please consult the Portfolio's prospectus.
For a full description, please consult the Portfolio's prospectus.
Related materials
Prices
| Updated Daily | ||||
|---|---|---|---|---|
| Date | Closing Price | NAV Change $ | NAV Change % | |
| September 1, 2010 | $11.43 | $-0.06 | -0.52% | |
Performance
| Updated Daily | ||||
|---|---|---|---|---|
| Total Returns | Year-to-Date | |||
| September 1, 2010 | 6.15% | |||
| Updated Monthly | ||||
|---|---|---|---|---|
| Total Returns | One Month | Three Month | Year-to-Date | |
| August 31, 2010 | 1.77% | 3.52% | 6.71% | |
| Updated Monthly | ||||
|---|---|---|---|---|
| Average Annual Total Returns | One Year | Five Years | Ten Years | Since Inception |
| August 31, 2010 | 11.28% | -- | -- | 6.85% |
| Updated Quarterly | ||||
|---|---|---|---|---|
| Average Annual Total Returns | One Year | Five Years | Ten Years | Since Inception |
| June 30, 2010 | 10.61% | -- | -- | 6.65% |
| Annual Expenses | Net Expense Ratio (to investor) | Total Operating Expense Ratio |
|---|---|---|
| October 31, 2009 | 0.16% | 0.16% |
| Dimensional has contractually agreed to waive certain fees and assume expenses for a one-year period set to terminate on March 1 unless renewed. Dimensional may seek reimbursement for amounts previously waived under the conditions outlined in the prospectus. | ||
Distributions
| Last 12 Months | |||||
|---|---|---|---|---|---|
| Type | Amount per Share | Record Date | Ex-dividend Date | Payable Date | Ex-dividend Price |
| Dividend | $0.1010 USD | 06/07/2010 | 06/08/2010 | 06/11/2010 | $11.16 USD |
| Dividend | $0.0150 USD | 03/08/2010 | 03/09/2010 | 03/12/2010 | $10.93 USD |
| Dividend | $0.1340 USD | 12/07/2009 | 12/08/2009 | 12/14/2009 | $10.99 USD |
Holdings
| As of July 31, 2010 | % of portfolio |
|---|---|
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 10.07 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 8.98 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 8.91 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 7.20 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 6.52 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 5.83 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 5.67 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 5.38 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 4.98 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 4.47 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 4.35 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 4.30 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 4.20 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 3.49 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 3.32 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 3.14 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 2.71 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 2.34 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 2.06 |
| UNITED STATES TREASURY INFLATION INDEXED BONDS | 1.31 |
| Total | 99.22 |
Sector Allocations
Market Risk
Even a long-term investment approach cannot guarantee a profit. Economic, political, and issuer-specific events will cause the value of securities, and the funds that own them, to rise or fall. Because the value of your investment in a fund will fluctuate, there is a risk that you will lose money.
Interest Rate Risk
Fixed income securities are subject to interest rate risk because the prices of fixed income securities tend to move in the opposite direction of interest rates. In general, fixed income securities with longer maturities are more sensitive to these price changes.
Inflation-Protected Securities Interest Rate Risk
Inflation-protected securities may react differently from other fixed income securities to changes in interest rates. Because interest rates on inflation-protected securities are adjusted for inflation, the values of these securities are not materially affected by inflation expectations. Therefore, the value of inflation-protected securities are anticipated to change in response to changes in "real" interest rates, which represent nominal (stated) interest rates reduced by the expected impact of inflation. Generally, the value of an inflation-protected security will fall when real interest rates rise and will rise when real interest rates fall.
Credit Risk
Credit risk is the risk that the issuer of a security may be unable to make interest payments and/or repay principal when due. A downgrade to an issuer's credit rating or a perceived change in an issuer's financial strength may affect a security's value, and thus, impact a fund's performance. Credit risk is greater for fixed income securities with ratings below investment grade. Fixed income securities that are below investment grade involve high credit risk and are considered speculative. Below-investment grade fixed income securities may also fluctuate in value more than higher-quality fixed income securities.
Risk of Investing for Inflation Protection
Because the interest and/or principal payments on an inflation-protected security are adjusted periodically for changes in inflation, the income distributed by the fund may be irregular. In a period of sustained deflation, the inflation-protected securities held by the fund may not pay any income and may suffer a loss. While inflation-protected securities are expected to be protected from long-term inflationary trends, short-term increases in inflation may lead to a decline in the fund's value. If interest rates rise due to reasons other than inflation, the fund's investment in these securities may not be protected to the extent that the increase is not reflected in the securities' inflation measures. In addition, positive adjustments to principal generally will result in taxable income to the fund at the time of such adjustments, even though the principal amount is not paid until maturity. The current market value of inflation-protected securities is not guaranteed and will fluctuate.
Income Risk
Income risk is the risk that falling interest rates will cause the fund's income to decline.
Even a long-term investment approach cannot guarantee a profit. Economic, political, and issuer-specific events will cause the value of securities, and the funds that own them, to rise or fall. Because the value of your investment in a fund will fluctuate, there is a risk that you will lose money.
Interest Rate Risk
Fixed income securities are subject to interest rate risk because the prices of fixed income securities tend to move in the opposite direction of interest rates. In general, fixed income securities with longer maturities are more sensitive to these price changes.
Inflation-Protected Securities Interest Rate Risk
Inflation-protected securities may react differently from other fixed income securities to changes in interest rates. Because interest rates on inflation-protected securities are adjusted for inflation, the values of these securities are not materially affected by inflation expectations. Therefore, the value of inflation-protected securities are anticipated to change in response to changes in "real" interest rates, which represent nominal (stated) interest rates reduced by the expected impact of inflation. Generally, the value of an inflation-protected security will fall when real interest rates rise and will rise when real interest rates fall.
Credit Risk
Credit risk is the risk that the issuer of a security may be unable to make interest payments and/or repay principal when due. A downgrade to an issuer's credit rating or a perceived change in an issuer's financial strength may affect a security's value, and thus, impact a fund's performance. Credit risk is greater for fixed income securities with ratings below investment grade. Fixed income securities that are below investment grade involve high credit risk and are considered speculative. Below-investment grade fixed income securities may also fluctuate in value more than higher-quality fixed income securities.
Risk of Investing for Inflation Protection
Because the interest and/or principal payments on an inflation-protected security are adjusted periodically for changes in inflation, the income distributed by the fund may be irregular. In a period of sustained deflation, the inflation-protected securities held by the fund may not pay any income and may suffer a loss. While inflation-protected securities are expected to be protected from long-term inflationary trends, short-term increases in inflation may lead to a decline in the fund's value. If interest rates rise due to reasons other than inflation, the fund's investment in these securities may not be protected to the extent that the increase is not reflected in the securities' inflation measures. In addition, positive adjustments to principal generally will result in taxable income to the fund at the time of such adjustments, even though the principal amount is not paid until maturity. The current market value of inflation-protected securities is not guaranteed and will fluctuate.
Income Risk
Income risk is the risk that falling interest rates will cause the fund's income to decline.
Dimensional Fund Advisors is an investment advisor registered with the Securities and Exchange Commission. Consider the investment objectives, risks, and charges and expenses of the Dimensional funds carefully before investing. For this and other information about the Dimensional funds, please read the prospectus carefully before investing. Prospectuses are available by calling Dimensional Fund Advisors collect at (310) 395-8005; on the Internet at www.dimensional.com; or, by mail, DFA Securities LLC, c/o Dimensional Fund Advisors, 1299 Ocean Avenue, 11th Floor, Santa Monica, CA 90401.
Mutual funds distributed by DFA Securities LLC
Mutual funds distributed by DFA Securities LLC
These Net Asset Values ("NAVs") have been prepared by the fund accounting agent. Dimensional Fund Advisors reserves the right to restate these NAV figures, if necessary, at any time.
Performance data represents past performance. Past performance is no guarantee of future results, and current performance may be higher or lower than the performance displayed. The investment return and principal value of an investment will fluctuate such that an investor's shares, when redeemed, may be worth more or less than their original cost. Total returns include reinvestment of dividends and capital gains and are net of all fees and expenses. Prior to April 2002, certain international equity portfolios charged a reimbursement fee to the purchasers of shares of those portfolios.