Strategies /
World ex US Value Portfolio
| Inception Date | Ticker Symbol | CUSIP Number |
| August 23, 2010 | DFWVX | 233-20G-471 |
The World ex US Value Portfolio is a no-load mutual fund designed to achieve long-term capital appreciation. The Portfolio pursues its objective through exposure to a broad portfolio of securities of non-US companies associated with countries with developed and emerging markets that Dimensional believes to be value stocks at the time of purchase. Securities are considered value stocks primarily because a company's shares have a high book value in relation to its market value (BtM). In assessing value, additional factors such as price to cash flow or price to earnings ratios may be considered, as well as economic conditions and developments in the issuer's industry. The criteria for assessing value are subject to change from time to time. To achieve this exposure, the Portfolio will generally purchase shares of the International Value Series, International Small Cap Value Portfolio, and Dimensional Emerging Markets Value Fund. In addition to, or in place of, investments in the underlying funds, the Portfolio is permitted to invest directly in securities of companies that are eligible investments for the underlying funds as described in the Prospectus for such funds.
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 % | |
| June 19, 2013 | $10.51 | $-0.21 | -1.96% | |
Performance
| Updated Daily | ||||
|---|---|---|---|---|
| Total Returns | Year-to-Date | |||
| June 19, 2013 | 1.38% | |||
| Updated Monthly | ||||
|---|---|---|---|---|
| Total Returns | One Month | Three Month | Year-to-Date | |
| May 31, 2013 | -1.71% | 2.22% | 3.67% | |
| Updated Monthly | ||||
|---|---|---|---|---|
| Average Annual Total Returns | One Year | Five Years | Ten Years | Since Inception |
| May 31, 2013 | 27.44% | -- | -- | 5.82% |
| Updated Quarterly | ||||
|---|---|---|---|---|
| Average Annual Total Returns | One Year | Five Years | Ten Years | Since Inception |
| As of March 31, 2013 | 6.00% | -- | -- | 5.38% |
| Annual Expenses | Net Expense Ratio (to investor) | Total Operating Expense Ratio |
|---|---|---|
| 0.60% | 0.84% | |
| Operating Expense ratio as of 10/31/2012. The net expense ratio takes into account contractual management fee waivers/caps and expense assumption agreements that are in effect through 2/28/2014. The fund’s prospectus contains more information on fees and expenses. | ||
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 | $0.1720 USD | 06/07/2013 | 06/10/2013 | 06/11/2013 | $10.72 USD |
| Dividend | $0.0070 USD | 03/07/2013 | 03/08/2013 | 03/11/2013 | $10.87 USD |
| Dividend | $0.0980 USD | 12/12/2012 | 12/13/2012 | 12/18/2012 | $10.21 USD |
| Dividend | $0.0300 USD | 09/07/2012 | 09/10/2012 | 09/13/2012 | $9.76 USD |
Top Holdings (4694 Total)
| As of May 31, 2013 | % of portfolio |
|---|---|
| BP PLC SPONS ADR ADR | 2.16 |
| ROYAL DUTCH SHELL PLC ADR ADR | 2.10 |
| VODAFONE GROUP PLC SP ADR ADR | 1.67 |
| DAIMLER AG REGISTERED SHARES COMMON STOCK NPV | 1.22 |
| MITSUBISHI UFJ FINANCIAL GRO COMMON STOCK | 1.21 |
| BNP PARIBAS COMMON STOCK EUR2. | 1.06 |
| SUNCOR ENERGY INC COMMON STOCK NPV | 1.04 |
| UBS AG REG COMMON STOCK CHF.1 | 0.95 |
| VODAFONE GROUP PLC COMMON STOCK USD.142857 | 0.93 |
| GAZPROM OAO SPON ADR ADR | 0.90 |
| WESFARMERS LTD COMMON STOCK NPV | 0.89 |
| HSBC HOLDINGS PLC SPONS ADR ADR | 0.83 |
| BARCLAYS PLC SPONS ADR ADR | 0.81 |
| SWISS RE AG COMMON STOCK CHF.1 | 0.75 |
| AXA SA COMMON STOCK EUR2.29 | 0.74 |
| ALLIANZ SE REG COMMON STOCK NPV | 0.73 |
| GLENCORE XSTRATA PLC COMMON STOCK USD.01 | 0.71 |
| LLOYDS BANKING GROUP PLC COMMON STOCK GBP.1 | 0.70 |
| MUENCHENER RUECKVER AG REG COMMON STOCK NPV | 0.68 |
| SOCIETE GENERALE COMMON STOCK EUR1.25 | 0.67 |
| Total | 20.73 |
Sector Allocations
| As of May 31, 2013 | % of portfolio |
|---|---|
| Financials | 34.8 |
| Materials | 12.6 |
| Energy | 12.5 |
| Industrials | 11.5 |
| Consumer Discretionary | 10.2 |
| Consumer Staples | 5.2 |
| Telecommunication Services | 5.0 |
| Information Technology | 4.7 |
| Utilities | 2.3 |
| Health Care | 1.2 |
| Other | 0.0 |
| REITs | 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.
Foreign Securities and Currencies Risk
Foreign securities prices may decline or fluctuate because of: (a) economic or political actions of foreign governments, and/or (b) less regulated or liquid securities markets. Investors holding these securities are also exposed to foreign currency risk (the possibility that foreign currency will fluctuate in value against the US dollar).
Small Company Risk
Securities of small companies are often less liquid than those of large companies. As a result, small company stocks may fluctuate relatively more in price. In general, small companies are also more vulnerable than larger companies to adverse business or economic developments and they may have more limited resources.
Emerging Markets Risk
Numerous emerging countries have recently experienced serious, and potentially continuing, economic and political problems. Stock markets in many emerging countries are relatively small, expensive and risky. Foreigners are often limited in their ability to invest in, and withdraw assets from, these markets. Additional restrictions may be imposed under other conditions.
Derivatives Risk
Derivatives can be used for hedging (attempting to reduce risk by offsetting one investment position with another) or non-hedging purposes. While hedging can reduce or eliminate losses, it also can reduce or eliminate gains. The use of derivatives for non-hedging purposes may be considered more speculative than other types of investments. When the Portfolio uses derivatives, the Portfolio will be directly exposed to the risks of those derivatives. Derivative securities are subject to a number of risks, including commodity, correlation, interest rate, liquidity, market, credit and management risks, and the risk of improper valuation. The Portfolio also may use derivatives for leverage. The Portfolio's use of derivatives, particularly commodity-linked derivatives, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Changes in the value of a derivative may not correlate perfectly with the underlying asset, rate, or index, and the Portfolio could lose more than the principal amount invested. For example, potential losses from commodity-linked notes or swap agreements can be unlimited. Additional risks are associated with the use of credit default swaps, including counterparty and credit risk (the risk that the other party to a swap agreement will not fulfill its contractual obligations, whether because of bankruptcy or other default) and liquidity risk (the possible lack of a secondary market for the swap agreement). Also, suitable derivative transactions may not be available in all circumstances and there can be no assurance that the Portfolio will engage in these transactions to reduce exposure to other risks when that would be beneficial.
Fund of Funds Risk
The investment performance of each Portfolio is affected by the investment performance of the Underlying Funds in which the Portfolio invests. The ability of a Portfolio to achieve its investment objective depends on the ability of the Underlying Funds to meet their investment objectives and on the Advisor's decisions regarding the allocation of the Portfolio's assets among the Underlying Funds. There can be no assurance that the investment objective of any Portfolio or Underlying Fund will be achieved. Through their investments in the Underlying Funds, the Portfolios are subject to the risks of the Underlying Funds investments. The risks of the Underlying Funds may include Market Risk, Small Company Risk, Risks of Concentrating in the Real Estate Industry, Emerging Markets Risk, Interest Rate Risk, Credit Risk, and Risks of Banking Concentration. For more details regarding these risks, please see the DIG Global Portfolios Prospectus.
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.
Foreign Securities and Currencies Risk
Foreign securities prices may decline or fluctuate because of: (a) economic or political actions of foreign governments, and/or (b) less regulated or liquid securities markets. Investors holding these securities are also exposed to foreign currency risk (the possibility that foreign currency will fluctuate in value against the US dollar).
Small Company Risk
Securities of small companies are often less liquid than those of large companies. As a result, small company stocks may fluctuate relatively more in price. In general, small companies are also more vulnerable than larger companies to adverse business or economic developments and they may have more limited resources.
Emerging Markets Risk
Numerous emerging countries have recently experienced serious, and potentially continuing, economic and political problems. Stock markets in many emerging countries are relatively small, expensive and risky. Foreigners are often limited in their ability to invest in, and withdraw assets from, these markets. Additional restrictions may be imposed under other conditions.
Derivatives Risk
Derivatives can be used for hedging (attempting to reduce risk by offsetting one investment position with another) or non-hedging purposes. While hedging can reduce or eliminate losses, it also can reduce or eliminate gains. The use of derivatives for non-hedging purposes may be considered more speculative than other types of investments. When the Portfolio uses derivatives, the Portfolio will be directly exposed to the risks of those derivatives. Derivative securities are subject to a number of risks, including commodity, correlation, interest rate, liquidity, market, credit and management risks, and the risk of improper valuation. The Portfolio also may use derivatives for leverage. The Portfolio's use of derivatives, particularly commodity-linked derivatives, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Changes in the value of a derivative may not correlate perfectly with the underlying asset, rate, or index, and the Portfolio could lose more than the principal amount invested. For example, potential losses from commodity-linked notes or swap agreements can be unlimited. Additional risks are associated with the use of credit default swaps, including counterparty and credit risk (the risk that the other party to a swap agreement will not fulfill its contractual obligations, whether because of bankruptcy or other default) and liquidity risk (the possible lack of a secondary market for the swap agreement). Also, suitable derivative transactions may not be available in all circumstances and there can be no assurance that the Portfolio will engage in these transactions to reduce exposure to other risks when that would be beneficial.
Fund of Funds Risk
The investment performance of each Portfolio is affected by the investment performance of the Underlying Funds in which the Portfolio invests. The ability of a Portfolio to achieve its investment objective depends on the ability of the Underlying Funds to meet their investment objectives and on the Advisor's decisions regarding the allocation of the Portfolio's assets among the Underlying Funds. There can be no assurance that the investment objective of any Portfolio or Underlying Fund will be achieved. Through their investments in the Underlying Funds, the Portfolios are subject to the risks of the Underlying Funds investments. The risks of the Underlying Funds may include Market Risk, Small Company Risk, Risks of Concentrating in the Real Estate Industry, Emerging Markets Risk, Interest Rate Risk, Credit Risk, and Risks of Banking Concentration. For more details regarding these risks, please see the DIG Global Portfolios Prospectus.
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.