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 (to the extent that at least 75% of the REITs assets are equity investments). The Portfolio invests in all eligible securities traded on the New York Stock Exchange, the American Stock Exchange, or the NASDAQ National Market System. The Portfolio is well diversified with respect to both geography and property type.
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 % | |
| February 8, 2012 | $25.09 | $0.03 | 0.12% | |
Performance
| Updated Daily | ||||
|---|---|---|---|---|
| Total Returns | Year-to-Date | |||
| February 8, 2012 | 8.66% | |||
| Updated Monthly | ||||
|---|---|---|---|---|
| Total Returns | One Month | Three Month | Year-to-Date | |
| January 31, 2012 | 6.32% | 7.00% | 6.32% | |
| Updated Monthly | ||||
|---|---|---|---|---|
| Average Annual Total Returns | One Year | Five Years | Ten Years | Since Inception |
| January 31, 2012 | 11.90% | -2.18% | 10.80% | 10.17% |
| Updated Quarterly | ||||
|---|---|---|---|---|
| Average Annual Total Returns | One Year | Five Years | Ten Years | Since Inception |
| As of December 31, 2011 | 8.95% | -1.75% | 10.08% | 9.86% |
| Annual Expenses | Net Expense Ratio (to investor) | Total Operating Expense Ratio |
|---|---|---|
| As of October 31, 2011 | 0.32% | 0.32% |
| Dimensional has contractually agreed to waive certain fees and assume expenses for a one-year period set to terminate on February 28, 2013 unless renewed. Dimensional may seek reimbursement for amounts previously waived under the conditions outlined in the prospectus. | ||
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.
Distributions
| Last 12 Months | |||||
|---|---|---|---|---|---|
| Type | Amount per Share | Record Date | Ex-dividend Date | Payable Date | Ex-dividend Price |
| Dividend | $0.2900 USD | 12/09/2011 | 12/12/2011 | 12/16/2011 | $21.78 USD |
| Dividend | $0.0420 USD | 09/07/2011 | 09/08/2011 | 09/13/2011 | $22.50 USD |
| Dividend | $0.0490 USD | 06/07/2011 | 06/08/2011 | 06/13/2011 | $23.63 USD |
Holdings
| As of January 31, 2012 | % of portfolio |
|---|---|
| SIMON PROPERTY GROUP INC | 11.11 |
| PUBLIC STORAGE | 5.61 |
| EQUITY RESIDENTIAL | 4.73 |
| HCP INC | 4.31 |
| BOSTON PROPERTIES INC | 4.07 |
| VENTAS INC | 4.05 |
| VORNADO REALTY TRUST | 3.72 |
| PROLOGIS INC | 3.66 |
| AVALONBAY COMMUNITIES INC | 3.32 |
| HOST HOTELS & RESORTS INC | 3.05 |
| HEALTH CARE REIT INC | 2.58 |
| KIMCO REALTY CORP | 2.05 |
| MACERICH CO/THE | 1.84 |
| DIGITAL REALTY TRUST INC | 1.83 |
| GENERAL GROWTH PROPERTIES INC | 1.81 |
| SL GREEN REALTY CORP | 1.65 |
| FEDERAL REALTY INVESTMENT TRUST | 1.62 |
| UDR INC | 1.43 |
| ESSEX PROPERTY TRUST INC | 1.26 |
| REALTY INCOME CORP | 1.22 |
| Total | 64.94 |
Sector Allocations
| As of January 31, 2012 | % of portfolio |
|---|---|
| REITs | 100.0 |
| 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.