Indices are not available for direct investment and performance does not reflect expenses of an actual portfolio.
Performance for portfolios are reported gross of custodial and advisory fees, includes reinvestment of dividends and other earnings, and are rebalanced annually. Performance less than one year is not annualized. Performance data shown represents past performance. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown.
There are risks associated with investing, including possible loss of principal. 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. Investors should carefully consider the investment objectives, risks, charges and expenses before investing.
Model Portfolio Construction
Model portfolios are constructed in the DFA Returns Program and Morningstar Advisor Workstation using past data of funds or indices as of a specific date, assigning weights to those funds or indices to equal 100%. The model portfolios constructed are hypothetical and are not representative of actual portfolios. Their performance is hypothetical, for illustrative purposes only and is subject to limitations. Past and hypothetical results are no guarantee of future results.
The model performance is based on model/back tested asset allocations. For more information on data sources and back tested data, please visit Back Tested Data. The performance was achieved with the retroactive application of a model designed with the benefit of hindsight; it does not represent actual investment performance. Back-tested model performance is hypothetical (does not reflect trading in actual portfolios). Material is not to be considered a recommendation or investment advice to buy or sell any security.
Dimensional indices have been retrospectively calculated by Dimensional Fund Advisors LP and did not exist prior to their index inceptions dates. Accordingly, results shown during the periods prior to each index’s index inception date do not represent actual returns of the index. Other periods selected may have different results, including losses. Back-tested index performance is hypothetical and is provided for informational purposes only to indicate historical performance had the index been calculated over the relevant time periods. Back-tested performance results assume the reinvestment of dividends and capital gains.