DFA Short-Duration Real Return Portfolio
Actively managed global bond fund
As of its 2026 Q2 report, DFA Short-Duration Real Return Portfolio held 768 positions with $2.19B in net assets. Its ten largest holdings made up 13.5% of the fund. The fund costs 0.22% a year. Over the 12 months to May 2026, it returned 4.8%, with dividends reinvested. In 2026 Q3 it added 92 new positions and exited 103.
The investment objective of the DFA Short-Duration Real Return Portfolio (the Short-Duration Real Return Portfolio or the Portfolio) is to seek inflation protection and maximize total returns.
The fund invests in investment-grade debt securities with a weighted average duration of three years or less, emphasizing securities rated A+ to BBB-, and uses inflation swaps and other derivatives to seek inflation protection and enhance returns. The Advisor tilts toward longer or shorter maturities within its eligible range based on expected term premiums. Because security selection depends on expected credit and term premiums, portfolio composition will vary with market conditions and the Advisor's expectations.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
NEW ZEALAND GOVERNMENT 4.50% · due 2030-05-15 | 2.38% | $52.27M | — | — |
United States Treasury 3.78% floating · due 2027-04-30 | 2.19% | $48.05M | — | — |
The DFA Investment Trust Company | 1.67% | $36.62M | 3.2M | $11.57 |
Dimensional Holdings Inc. | 1.65% | $36.10M | — | — |
JP MORGAN CHASE BANK NA 4.65% floating · due 2026-12-08 | 1.02% | $22.33M | — | — |
AMAZON.COM INC 4.25% · due 2031-03-13 | 0.99% | $21.78M | — | — |
ASIAN DEVELOPMENT BANK 3.95% floating · due 2028-06-20 | 0.92% | $20.25M | — | — |
DBS GROUP HOLDINGS LTD 4.26% floating · due 2028-03-21 | 0.91% | $20.06M | — | — |
INTER-AMERICAN DEVEL BK 3.97% floating · due 2029-02-15 | 0.91% | $20.01M | — | — |
INTL BK RECON & DEVELOP 4.09% floating · due 2027-08-19 | 0.89% | $19.60M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
The 200 largest of 768 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 | 96.00% |
| Cash & short-term | 4.07% |
| Stocks | 1.67% |
| Derivatives | 0.46% |
Derivatives are shown at market value, not notional exposure.
By sector
- International
- 30.4%
- Government
- 22.2%
- Other
- 15.2%
- Financials
- 8.9%
- 11 other sectors
- 23.4%
- International
- 30.4%
- Government
- 22.2%
- Other
- 15.2%
- Financials
- 8.9%
- Real Estate
- 3.2%
- Communication Services
- 3.1%
- Information Technology
- 3.1%
- Health Care
- 3.0%
- Cash
- 2.8%
- Consumer Discretionary
- 2.6%
- Consumer Staples
- 1.8%
- Industrials
- 1.2%
- Utilities
- 1.0%
- Energy
- 0.9%
- Materials
- 0.7%
How it has done
C000130944 share class · total returns with dividends reinvested
Volatility over the last 12 months: 1.17%. 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 Short-Duration Real Return Portfolio is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.22%
- Portfolio turnover
- 36.00% 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.
92 new· the largest 4
103 exited· the largest 7
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.
| Fixed rate | 70.7% |
| Floating rate | 29.3% |
| Zero-coupon or unclassified | 0.1% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 16.3% |
| 1-3y | 20.9% |
| 3-5y | 62.8% |
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 | 52% |
| Interest rates | 48% |
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 | +2.49 yr |
| High yield | +0.02 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 | 0.02 yr | 1% |
| 1 yr | 0.66 yr | 29% |
| 5 yr | 1.60 yr | 70% |
| 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 | 0.03 yr | 1% |
| 1 yr | 0.84 yr | 34% |
| 5 yr | 1.64 yr | 65% |
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 | +0.02 | +0.03 | +0.00 | $5.6k | $87 |
| 1 yr | +0.66 | +0.84 | +0.01 | $184.0k | $1.1k |
| 5 yr | +1.60 | +1.63 | +0.01 | $357.6k | $2.3k |
| 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.
Duration contribution in years, summing to the fund's 2.28 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
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.
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