U.S. Socially Responsible Equity Portfolio

Overview

Investment Objective

The investment objective of the Fund is long-term capital appreciation.

Investment Strategy

The Portfolio is 100% invested in the Dimensional U.S. Sustainability Core 1 Portfolio (DFSIX). The Fund purchases a broad and diverse group of securities of U.S. companies with a greater emphasis on small capitalization and value companies as compared to their representation in the U.S. Universe, while adjusting the composition of the Fund based on sustainability impact considerations.

DFA generally defines the U.S. Universe as a market capitalization weighted portfolio of U.S. operating companies listed on the New York Stock Exchange ("NYSE"), NYSE MKT LLC, Nasdaq Global Market^®, Nasdaq Capital Market^®, or such other securities exchanges deemed appropriate by DFA. The Fund's increased exposure to small and value companies may be achieved by decreasing the allocation of the Fund's assets to the largest U.S. growth companies relative to their weight in the U.S. Universe.

An equity issuer is considered a growth company primarily because it has a low, non-negative book value in relation to its market capitalization. Securities are considered to be value stocks primarily because a company's shares have a high book value in relation to their market value. As a non-fundamental policy, under normal circumstances, the Fund will invest at least 80% of its net assets in equity securities of U.S. companies. The percentage allocation of the assets of the Fund to securities of the largest U.S. growth companies as defined above will generally be reduced from between 2.5% and 25% of their percentage weight in the U.S. Universe. For example, as of December 31, 2016, securities of the largest U.S. growth companies comprised 31% of the U.S. Universe and DFA allocated approximately 26% of the Fund to securities of the largest U.S. growth companies. The percentage by which the Fund's allocation to securities of the largest U.S. growth companies is reduced will change due to market movements, sustainability impact considerations and other factors. Additionally, the range by which the Fund's percentage allocation to all securities as compared to the U.S. Universe may be impacted by the Fund's investment strategies with respect to sustainability impact considerations and DFA may also adjust the representation in the Fund of an eligible company, or exclude a company, after considering other factors DFA determines to be appropriate, such as free float, momentum, trading strategies, liquidity management, profitability, and other factors DFA determines to be appropriate, given market conditions. In assessing profitability, DFA may consider different ratios, such as that of earnings or profits from operations relative to book value or assets.

The Fund also may purchase or sell futures contracts and options on futures contracts for U.S. equity securities and indices, to adjust market exposure based on actual or expected cash inflows to or outflows from the Fund. The Fund does not intend to sell futures contracts to establish short positions in individual securities or to use derivatives for purposes of speculation or leveraging investment returns. The above-referenced investments are not subject to, although they may incorporate, the Fund's sustainability impact considerations.

The Fund may lend its portfolio securities to generate additional income. DFA intends to take into account the impact that companies may have on the environment and other sustainability considerations when making investment decisions for the Fund. Relative to a portfolio without these considerations, the Fund will exclude or underweight securities of companies that, according to the Fund's sustainability impact considerations, may be less sustainable as compared either to other companies in the Fund's investment universe or other companies with similar business lines. Similarly, relative to a portfolio without sustainability impact considerations, the Fund will overweight securities of companies that, according to the Fund's sustainability impact considerations, may be more sustainable as compared either to other companies in the Fund's investment universe or other companies with similar business lines.

In considering sustainability impact and other factors that DFA believes may be important to investors, DFA may consider carbon and other greenhouse emissions, or potential emissions, land use, cluster munitions manufacturing, biodiversity, involvement in toxic spills or releases, operational waste, water use, tobacco, child labor and factory farming activities, among other factors. In particular, the Fund may exclude companies DFA considers to have high carbon or greenhouse gas emissions or reserves that may produce those emissions. DFA may engage third party service providers to provide research and/or ratings information relating to the Fund's sustainability impact considerations with respect to securities in the portfolio, where information is available from such providers.

Investment Risks

The Fund is subject to Equity Market Risk, Value Investment Risk, Small Company Risk, Sustainability Impact Consideration Investment Risk, Derivatives Risk, Securities Lending Risk, and Cyber Security Risk. These risks are discussed under Explanations of Investment Risk Factors - DFA Investment Risks, Appendix A.

Average Annual Returns - Updated Monthly as of 06/30/2024

Annual Investment Returns

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