Strategies /
Real Estate Securities Portfolio (I)
| Inception Date | Ticker Symbol | CUSIP Number |
| January 5, 1993 | DFREX | 233-203-835 |
The Real Estate Securities Portfolio is a no-load mutual fund designed to achieve long-term capital appreciation. The Portfolio intends to invest only in shares of equity and hybrid real estate investment trusts. The Portfolio invests in all eligible securities traded in the US securities markets, principally on the New York Stock Exchange or such other securities exchanges deemed appropriate by Dimensional.
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 % | |
| May 20, 2013 | $31.13 | $0.07 | 0.23% | |
Performance
| Updated Daily | ||||
|---|---|---|---|---|
| Total Returns | Year-to-Date | |||
| May 20, 2013 | 18.39% | |||
| Updated Monthly | ||||
|---|---|---|---|---|
| Total Returns | One Month | Three Month | Year-to-Date | |
| April 30, 2013 | 6.75% | 10.90% | 14.82% | |
| Updated Monthly | ||||
|---|---|---|---|---|
| Average Annual Total Returns | One Year | Five Years | Ten Years | Since Inception |
| April 30, 2013 | 18.56% | 6.98% | 12.37% | 10.81% |
| Updated Quarterly | ||||
|---|---|---|---|---|
| Average Annual Total Returns | One Year | Five Years | Ten Years | Since Inception |
| As of March 31, 2013 | 14.24% | 6.81% | 12.05% | 10.49% |
| Annual Expenses | Net Expense Ratio (to investor) | Total Operating Expense Ratio |
|---|---|---|
| 0.22% | 0.23% | |
|
Fee Reduction Effective February 28 2012, the management fee was reduced from 30 bps to 17 bps, with an expense limitation of 18 bps. See the prospectus for more information. |
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| Operating Expense ratio has been adjusted to reflect the estimated management fee to be paid by the portfolio through 10/31/2013. The net expense ratio takes into account contractual management fee waivers/caps and expense assumption agreements that are in effect through 2/28/2014. | ||
Performance data shown represents past performance and is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent month-end, visit www.dimensional.com.
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Distributions
| Last 12 Months | |||||
|---|---|---|---|---|---|
| Type | Amount per Share | Record Date | Ex-dividend Date | Payable Date | Ex-dividend Price |
| Dividend | $0.0490 USD | 03/07/2013 | 03/08/2013 | 03/11/2013 | $27.87 USD |
| Dividend | $0.3360 USD | 12/11/2012 | 12/12/2012 | 12/18/2012 | $25.79 USD |
| Dividend | $0.3070 USD | 09/07/2012 | 09/10/2012 | 09/13/2012 | $26.69 USD |
| Dividend | $0.1290 USD | 06/07/2012 | 06/08/2012 | 06/13/2012 | $25.39 USD |
Top Holdings (121 Total)
| As of January 31, 2013 | % of portfolio |
|---|---|
| SIMON PROPERTY GROUP INC | 10.79 |
| PUBLIC STORAGE | 5.04 |
| HCP INC | 4.34 |
| VENTAS INC | 4.16 |
| PROLOGIS INC | 4.00 |
| EQUITY RESIDENTIAL | 3.80 |
| BOSTON PROPERTIES INC | 3.56 |
| HEALTH CARE REIT INC | 3.43 |
| VORNADO REALTY TRUST | 3.17 |
| AVALONBAY COMMUNITIES INC | 2.99 |
| HOST HOTELS & RESORTS INC | 2.72 |
| KIMCO REALTY CORP | 1.90 |
| DIGITAL REALTY TRUST INC | 1.86 |
| GENERAL GROWTH PROPERTIES INC | 1.82 |
| MACERICH CO/THE | 1.78 |
| SL GREEN REALTY CORP | 1.63 |
| FEDERAL REALTY INVESTMENT TRUST | 1.51 |
| UDR INC | 1.31 |
| CAMDEN PROPERTY TRUST | 1.30 |
| REALTY INCOME CORP | 1.27 |
| Total | 62.35 |
Sector Allocations
| As of April 30, 2013 | % of portfolio |
|---|---|
| REITs | 100.0 |
| Other | 0.0 |
| Total | 100.0 |
| Sectors defined by MSCI | |
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.
Risk of Concentrating in the Real Estate Industry
The fund is concentrated in the real estate industry. The exclusive focus by the fund on the real estate industry may cause a fund's risk to approximate the general risks of direct real estate ownership. The performance of the fund may be materially different from the broad equity market.
Real Estate Investment Risk
The value of securities in the real estate industry can be affected by changes in real estate values and rental income, property taxes, interest rates, and tax and regulatory requirements. Investing in REITs and REIT-like entities involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. REITs and REIT-like entities are dependent upon management skill, may not be diversified, and are subject to heavy cash flow dependency and self-liquidation. REITs and REIT-like entities also are subject to the possibility of failing to qualify for tax-free pass-through of income. Also, because REITs and REIT-like entities typically are invested in a limited number of projects or in a particular market segment, these entities are more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments.
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.
Risk of Concentrating in the Real Estate Industry
The fund is concentrated in the real estate industry. The exclusive focus by the fund on the real estate industry may cause a fund's risk to approximate the general risks of direct real estate ownership. The performance of the fund may be materially different from the broad equity market.
Real Estate Investment Risk
The value of securities in the real estate industry can be affected by changes in real estate values and rental income, property taxes, interest rates, and tax and regulatory requirements. Investing in REITs and REIT-like entities involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. REITs and REIT-like entities are dependent upon management skill, may not be diversified, and are subject to heavy cash flow dependency and self-liquidation. REITs and REIT-like entities also are subject to the possibility of failing to qualify for tax-free pass-through of income. Also, because REITs and REIT-like entities typically are invested in a limited number of projects or in a particular market segment, these entities are more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments.
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 (512) 306-7400 or at www.dimensional.com.
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.