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Tax-Managed US Marketwide Value Portfolio (II)

Ticker DFMVX
Inception Date 12/16/98
Fund Net Assets $6.8 B (As Of 04/30/18)

The investment objective of the Tax-Managed U.S. Marketwide Value Portfolio II is to achieve long-term capital appreciation. The Portfolio is a Feeder Portfolio and pursues its objective by investing substantially all of its assets in its corresponding Master Fund, The Tax-Managed U.S. Marketwide Value Series, which has the same investment objective and policies as the Portfolio.

The Fund Net Assets shown represents the assets for the master fund that this portfolio invests in.

Returns (As of 04/30/18)(As of 03/31/18)

Annualized Returns

portfolio benchmark
YTD -1.86% -2.40%
1 Year 10.46% 7.42%
3 Year 8.83% 7.78%
5 Year 12.17% 10.50%
10 Year 8.92% 7.39%
Since Inception 7.88% 7.15%

Annualized Returns

portfolio benchmark
YTD -2.31% -2.82%
1 Year 10.98% 6.81%
3 Year 9.04% 7.87%
5 Year 12.23% 10.71%
10 Year 9.48% 7.84%
Since Inception 7.89% 7.16%

Calendar Year Returns

portfolio benchmark
2017 17.15% 13.19%
2016 17.37% 18.40%
2015 -2.63% -4.13%
2014 10.09% 12.70%
2013 40.51% 32.69%
2012 22.41% 17.55%
2011 -2.89% -0.10%
2010 21.71% 16.23%
2009 31.19% 19.76%
2008 -41.46% -36.25%

AFTER TAX RETURNS  (As of 03/31/2018)
After Taxes on Distributions: 1 Year = 9.55%   5 Year = 11.28%   10 Year= 8.84%
After Taxes on Distributions and Sale of Fund Shares: 1 Year = 7.37%   5 Year = 9.65%   10 Year = 7.69%
After-tax returns are calculated using the highest individual federal income tax rate in effect and they do not reflect state and local taxes. After-tax returns depend on an investor's particular tax situation and may differ from those shown here.

Performance is reported net of all advisory fees and includes reinvestment of dividends and other earnings. 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.  

Performance less than one year is not annualized.

Indices are not available for direct investment; therefore, their performance does not reflect the expenses associated with the management of an actual portfolio.

Dimensional funds are distributed by DFA Securities LLC.

Fees & Expenses

Management Fee 0.40%
Management Fee After Fee Waiver 0.20%
Total Operating Expense Ratio 0.42%
Net Expense Ratio (to investor) 0.22%

Certain Portfolios have entered into fee waiver and/or expense assumption arrangements with the Advisor. In these cases, the Advisor has contractually agreed, under certain circumstances, to waive certain fees and/or assume certain expenses of the Portfolio. Unless otherwise stated in the prospectus, the Advisor may amend or discontinue these arrangements at any time, one year from the date of the prospectus. The net expense ratio reflects the total annual fund operating expenses of the Portfolio after taking into account any such fee waiver and/or expense assumption arrangements. Please read the Portfolio's prospectus for details and more information.

Characteristics (As Of 04/30/18)


Price-to-Book 1.86
% in Top 10 Holdings 30.49%
Wtd. Avg. Mkt. Cap. (Millions) $114967
Number of Holdings 956
Annual Turnover as of 10/31/17 7%

GICS Sector Allocation2

Financials 23.98%
Health Care 13.92%
Energy 13.73%
Consumer Discretionary 13.69%
Information Technology 12.79%
Industrials 11.00%
Consumer Staples 5.71%
Telecommunication Services 3.25%
Materials 1.86%
Utilities 0.04%
REITs 0.03%

Top Holdings

JPMorgan Chase & Co 4.40%
Intel Corp 3.78%
Exxon Mobil Corp 3.32%
Comcast Corp 3.30%
Cisco Systems Inc 3.07%
AT&T Inc 3.02%
Wells Fargo & Co 2.78%
Bank of America Corp 2.61%
Time Warner Inc 2.14%
Chevron Corp 2.06%

1 The portfolio turnover rate presented is the portfolio turnover of the Master Fund.

2 Sectors defined by MSCI.

Please note that a Portfolio that invests in other Portfolios typically does not hold securities directly. As such, "Top Holdings" information for such a Portfolio represents "Top Holdings" information of underlying Portfolios.

Please click here to access Top Holdings as of the most recent month end available.

Holdings are subject to change.

Numbers may not total 100% due to rounding.

Portfolio Risks

Equity Market Risk: Even a long-term investment approach cannot guarantee a profit. Economic, market, political, and issuer-specific conditions and events will cause the value of equity securities, and the Tax-Managed Value Series that owns them, and, in turn, the Tax-Managed Value Portfolio itself, to rise or fall. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices.

Value Investment Risk: Value stocks may perform differently from the market as a whole and following a value-oriented investment strategy may cause the Portfolio to at times underperform equity funds that use other investment strategies.

Small Company Risk: Securities of small companies are often less liquid than those of large companies and this could make it difficult to sell a small company security at a desired time or price. As a result, small company stocks may fluctuate relatively more in price. In general, smaller capitalization companies are also more vulnerable than larger companies to adverse business or economic developments and they may have more limited resources.

Tax Management Strategy Risk: The tax-management strategies may alter investment decisions and affect the portfolio holdings, when compared to those of non-tax-managed mutual funds. The Advisor anticipates that performance of the Tax-Managed Value Portfolio may deviate from that of non-tax-managed mutual funds.

Derivatives Risk: Derivatives are instruments, such as futures contracts, whose value is derived from that of other assets, rates or indices. The use of derivatives for non-hedging purposes may be considered to carry more risk than other types of investments. When the Tax-Managed Value Series and the Tax-Managed Value Portfolio use derivatives, the Tax-Managed Value Series and the Tax-Managed Value Portfolio will be directly exposed to the risks of those derivatives. Derivative instruments are subject to a number of risks including counterparty, liquidity, interest rate, market, credit and management risks, and the risk of improper valuation. Changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index, and the Tax-Managed Series or the Tax-Managed Portfolio could lose more than the principal amount invested.

Securities Lending Risk: Securities lending involves the risk that the borrower may fail to return the securities in a timely manner or at all. As a result, the Tax-Managed Value Series may lose money and there may be a delay in recovering the loaned securities. The Tax-Managed Value Series could also lose money if it does not recover the securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences.

Cyber Security Risk: The Tax-Managed Value Portfolio’s and its service providers’ use of internet, technology and information systems may expose the Portfolio to potential risks linked to cyber security breaches of those technological or information systems. Cyber security breaches, amongst other things, could allow an unauthorized party to gain access to proprietary information, customer data, or fund assets, or cause the Portfolio and/or its service providers to suffer data corruption or lose operational functionality.


Calendar Year

Record Date Ex-Date Payable Date Type Rate per Share
03/06/15 03/09/15 03/10/15 Dividend $0.08802
06/05/15 06/08/15 06/09/15 Dividend $0.10469
09/08/15 09/09/15 09/10/15 Dividend $0.11225
12/15/15 12/16/15 12/17/15 Dividend $0.14130
12/15/15 12/16/15 12/17/15 Long-Term Capital Gain $0.41439
Record Date Ex-Date Payable Date Type Rate per Share
03/29/16 03/30/16 03/31/16 Dividend $0.11286
06/28/16 06/29/16 06/30/16 Dividend $0.11671
09/28/16 09/29/16 09/30/16 Dividend $0.11195
12/14/16 12/15/16 12/16/16 Dividend $0.13832
12/14/16 12/15/16 12/16/16 Long-Term Capital Gain $0.91408
Record Date Ex-Date Payable Date Type Rate per Share
03/29/17 03/30/17 03/31/17 Dividend $0.11825
06/28/17 06/29/17 06/30/17 Dividend $0.12723
09/27/17 09/28/17 09/29/17 Dividend $0.14378
12/14/17 12/15/17 12/18/17 Long-Term Capital Gain $0.95273
12/14/17 12/15/17 12/18/17 Dividend $0.13747
Record Date Ex-Date Payable Date Type Rate per Share
03/27/18 03/28/18 03/29/18 Dividend $0.12316
06/27/18 06/28/18 06/29/18
09/26/18 09/27/18 09/28/18
12/17/18 12/18/18 12/19/18

Dimensional Fund Advisors LP 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

Dimensional funds are distributed by DFA Securities LLC.