Emerging Markets Portfolio II


Inception Date
August 14, 1997 		Ticker Symbol
DFETX		 CUSIP Number
254-34D-849

The Emerging Markets Portfolio II is a no-load mutual fund designed to achieve long-term capital appreciation. The Portfolio pursues its objective by investing in emerging markets equity securities that Dimensional deems to be large company stocks at the time of purchase. Dimensional will consider, among other things, information disseminated by the International Finance Corporation in determining and approving countries that have emerging markets. The Portfolio currently invests in companies in Brazil, Chile, China, the Czech Republic, Hungary, India, Indonesia, Israel, Malaysia, Mexico, Philippines, Poland, South Africa, South Korea, Taiwan, Thailand, and Turkey. Due to repatriation restrictions, the Portfolio currently holds but does not purchase securities in Argentina.

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

Prices
Updated Daily
 
Date Closing Price NAV Change $ NAV Change %
May 12, 2008 $28.65 $0.30 1.06%

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 Daily
Total Returns Year-to-Date
As of May 12, 2008 -2.35%


Updated Monthly
Total Returns One Month Three Month Year-to-Date
As of April 30, 2008 7.13% 7.13% -2.22%
 
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of April 30, 2008 19.91% 33.90% 15.21% 12.02%


Updated Quarterly
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of March 31, 2008 19.12% 35.51% 14.24% 11.40%

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 November 30, 2007 0.39% 0.39%



Distributions
Last 12 Months
 

Type		 Amount per Share Record Date Ex-dividend Date Payable Date Ex-dividend Price
Dividend $0.3050 12/18/2007 12/19/2007 12/24/2007 $28.31
LT Capital Gain $0.2210 12/18/2007 12/19/2007 12/24/2007 $28.31


Top Holdings
 

As of April 30, 2008
% of Portfolio
CIA VALE DO RIO DOCE 2.25
SAMSUNG ELECTRONICS CO LTD 2.07
RELIANCE INDUSTRIES LTD 2.00
TEVA PHARMACEUTICAL INDUSTRIES LTD 1.86
AMERICA MOVIL SAB DE CV 1.81
SASOL LTD 1.75
MTN GROUP LTD 1.48
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 1.46
CHINA MOBILE LTD 1.34
BANCO BRADESCO SA 1.23
BANCO ITAU HOLDING FINANCEIRA SA 1.10
IMPALA PLATINUM HOLDINGS LTD 0.91
HON HAI PRECISION INDUSTRY CO LTD 0.90
INFOSYS TECHNOLOGIES LTD 0.85
ICICI BANK LTD 0.84
CIA DE BEBIDAS DAS AMERICAS 0.84
CEZ 0.84
ISRAEL CHEMICALS LTD 0.78
EMPRESA NACIONAL DE ELECTRICIDAD SA/CHILE 0.73
MOL HUNGARIAN OIL AND GAS NYRT 0.72
Total 25.76


Sector Allocations
 
As of March 31, 2008 % of Portfolio
Consumer Discretionary 5.6
Consumer Staples 8.5
Energy 7.6
Financials 20.3
Health Care 3.3
Industrials 9.8
Information Technology 10.0
Materials 17.7
Other 0.1
Telecommunication Services 13.1
Utilities 4.1
Total 100.0

Sectors defined by MSCI.


View proxy vote filings.

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 firms are often less liquid than those of large companies. As a result, small company stocks may fluctuate relatively more in price.

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.

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.