Selectively Hedged Global Fixed Income Portfolio


Inception Date
January 9, 2008 		Ticker Symbol
DFSHX		 CUSIP Number
233-203-223

The investment objective of the Selectively Hedged Global Fixed Income Portfolio is to maximize total returns. Generally, the Portfolio will invest in US and foreign debt securities maturing in two years or less. These debt securities may include US government securities, high-quality US corporate securities, and fixed income instruments of foreign governments, foreign corporations, and supranational organizations. The Portfolio expects to invest primarily in obligations issued or guaranteed by any of the following countries (but may invest in other countries as well): Australia, Canada, Denmark, EMU countries, Japan, New Zealand, Sweden, Switzerland, the United Kingdom, and the United States. The Portfolio may selectively hedge its foreign currency risks depending on market conditions.

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Prospectus

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For a full description, please consult the Portfolio's prospectus.

Prices
Updated Daily
 
Date Closing Price NAV Change $ NAV Change %
May 13, 2008 $10.13 $-0.03 -0.30%

These Net Asset Values ("NAVs") have been prepared by the fund accounting agent. Dimensional Fund Advisors reserves the right to restate these NAVs, if necessary, at any time.


Performance
Updated Monthly
Total Returns One Month Three Month Year-to-Date
As of April 30, 2008 0.39% 1.65% N/A
 
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of April 30, 2008 N/A N/A N/A 2.16%*

* Returns for periods less than one year are not annualized.


Updated Quarterly
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of March 31, 2008 N/A N/A N/A 1.76%*

* Returns for periods less than one year are not annualized.

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.


Annual Expenses Total Operating
Expense Ratio		 Net Expense Ratio
(to investor)
As of December 31, 2007 0.73% 0.25%

Dimensional has contractually agreed to waive certain fees and assume expenses for a one-year period set to terminate on April 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 $0.0260 3/7/2008 3/10/2008 3/13/2008 $10.12


Top Holdings
 

As of April 30, 2008
% of Portfolio
ORACLE CORP 2.75
NEW CENTER ASSET TRUST 2.75
CORNELL UNIVERSITY 2.74
EKSPORTFINANS 2.73
NETWORK RAIL FINANCE PLC 2.65
AUSTRALIA & NEW ZEALAND BANKING GROUP 2.63
WESTPAC BANKING CORPORATION 2.37
SVENSKA HANDELSBANKEN 2.20
CIESCO L.P. 2.11
OESTERREICH KONTROLLBANK 1.95
RABOBANK 1.83
NATIONAL RURAL UTILITIES 1.83
FPL FUELS INC 1.83
NYSE EURONEXT 1.74
CME GROUP INC. 1.74
BANK OF NOVA SCOTIA 1.74
SWEDEN KINGDOM 1.68
LLOYDS TSB BANK PLC 1.65
ROYAL BANK OF SCOTLAND PLC 1.64
BNP PARIBAS FINANCE INC 1.64
Total 42.20


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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).

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.

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 Banking Concentration
The fund may temporarily concentrate its assets in obligations of US and/or foreign banks and bank holding companies when the yield to maturity on eligible portfolio investments in banking industry securities as a group generally exceeds the yield to maturity on all other eligible portfolio investments as a group. Focus on the banking industry would link the performance of the fund to changes in the performance of the banking industry. For example, a change in the market's perception of the riskiness of banks compared to non-banks would cause the fund's values to 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 Inc., c/o Dimensional Fund Advisors, 1299 Ocean Avenue, Santa Monica, CA 90401.

Mutual funds distributed by DFA Securities Inc.