DFA ONE-YEAR FIXED INCOME PORTFOLIO
Actively managed global bond fund
As of its 2026 Q2 report, DFA ONE-YEAR FIXED INCOME PORTFOLIO held 153 positions with $4.57B in net assets. Its ten largest holdings made up 26.8% of the fund. The DFIHX share class costs 0.12% a year. Over the 12 months to May 2026, DFIHX returned 4.1%, with dividends reinvested. In 2026 Q3 it added 103 new positions and exited 78.
The investment objective of the DFA One-Year Fixed Income Portfolio (the One-Year Portfolio or the Portfolio) is to achieve a stable real return in excess of the rate of inflation with a minimum of risk.
The fund invests in investment-grade fixed income securities maturing within one year, focusing on certificates of deposit, commercial paper, bankers acceptances, and short-term notes and bonds issued by U.S. and foreign governments, agencies, banks, and corporations. The manager tilts toward longer-maturity securities within the eligible range when the expected term premium justifies it, otherwise favoring shorter maturities. The fund maintains a weighted average effective maturity not exceeding one year and may use futures and options to adjust interest rate exposure or manage cash flows.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
United States Treasury 3.78% floating · due 2027-04-30 | 5.58% | $255.13M | — |
United States Treasury 3.81% floating · due 2027-10-31 | 5.10% | $233.36M | — |
AMAZON.COM INC 4.09% floating · due 2028-03-13 | 2.78% | $127.14M | — |
BRITISH COLUMBIA PROV OF 0.90% · due 2026-07-20 | 2.37% | $108.50M | — |
United States Treasury 3.88% · due 2027-10-15 | 2.31% | $105.50M | — |
United States Treasury 3.72% floating · due 2028-01-31 | 2.02% | $92.16M | — |
United States Treasury 3.78% floating · due 2027-07-31 | 1.88% | $86.08M | — |
INTL FINANCE CORP 3.92% floating · due 2027-07-30 | 1.69% | $77.37M | — |
PSP Capital Inc | 1.68% | $76.79M | — |
United States Treasury 3.50% · due 2027-09-30 | 1.39% | $63.78M | — |
All 153 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 50.19% |
| Cash & short-term | 49.79% |
| Stocks | 0.16% |
By sector
- Government
- 52.2%
- International
- 15.1%
- Cash
- 14.2%
- Financials
- 7.0%
- 5 other sectors
- 11.4%
- Government
- 52.2%
- International
- 15.1%
- Cash
- 14.2%
- Financials
- 7.0%
- Other
- 3.0%
- Consumer Discretionary
- 3.0%
- Health Care
- 2.6%
- Information Technology
- 2.2%
- Consumer Staples
- 0.7%
How it has done
DFIHX share class · total returns with dividends reinvested
Volatility over the last 12 months: 0.14%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
DFA ONE-YEAR FIXED INCOME PORTFOLIO is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.12%· DFIHX 0.12%
- Portfolio turnover
- 78.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
103 new· the largest 5
78 exited· the largest 5
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 65.2% |
| Fixed rate | 34.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 32.0% |
| 1-3y | 68.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 53% |
| Interest rates | 47% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +0.31 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.11 yr | 40% |
| 1 yr | 0.16 yr | 57% |
| 5 yr | 0.01 yr | 4% |
| 30 yr | 0.00 yr | 0% |
10 yr is NEGATIVE (-0.00 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.02 yr | 8% |
| 1 yr | 0.25 yr | 81% |
| 5 yr | 0.03 yr | 11% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.11 | +0.02 | +0.00 | $11.2k | $0 |
| 1 yr | +0.16 | +0.25 | +0.00 | $115.3k | $0 |
| 5 yr | +0.01 | +0.03 | +0.00 | $15.3k | $0 |
| 10 yr | -0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
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