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LOGO

Semi-Annual Report

Period Ended: April 30, 2022 (Unaudited)

DIMENSIONAL ETF TRUST

Dimensional US Core Equity Market ETF

Dimensional US High Profitability ETF

Dimensional US Real Estate ETF

Dimensional US Small Cap Value ETF

Dimensional International Core Equity Market ETF

Dimensional International Core Equity 2 ETF

Dimensional International Small Cap Value ETF

Dimensional International Small Cap ETF

Dimensional International High Profitability ETF

Dimensional Emerging Core Equity Market ETF

Dimensional Emerging Markets High Profitability ETF

Dimensional Emerging Markets Value ETF

Dimensional Emerging Markets Core Equity 2 ETF

LOGO

June 2022

Dear Shareholder,

The investment world is constantly evolving. In many ways, investors have benefited from an industry marked by new solutions, advancing technology, and increased personalization. Dimensional has been innovating on behalf of investors since 1981, using financial science to pursue higher expected returns in a flexible, diversified, low-cost manner.

A common thread in Dimensional’s history is the consistent, systematic application of financial theory and empirical research in managing strategies. We seek sensible ideas that we can implement well. In recent years, we have developed strategies in different product structures to give financial professionals more choices in how they integrate Dimensional Investing into client portfolios. In the first half of this year, for example, we broadened our suite of exchange-traded funds, launched a new fixed income mutual fund, and enhanced the investment management capabilities and services we provide clients.

On behalf of everyone at Dimensional, we thank you for entrusting us with your investments.

Sincerely,




David P. Butler		Gerard O’Reilly
CO-CHIEF EXECUTIVE OFFICER		CO-CHIEF EXECUTIVE OFFICER and CHIEF INVESTMENT OFFICER

DIMENSIONAL ETF TRUST

SEMI-ANNUAL REPORT

(Unaudited)

Table of Contents


Letter to Shareholders
Definitions of Abbreviations and Footnotes			3
Disclosure of Expenses			4
Disclosure of Portfolio Holdings			7
Summary Schedules of Investments
Dimensional US Core Equity Market ETF			9
Dimensional US High Profitability ETF			12
Dimensional US Real Estate ETF			15
Dimensional US Small Cap Value ETF			17
Dimensional International Core Equity Market ETF			20
Dimensional International Core Equity 2 ETF			24
Dimensional International Small Cap Value ETF			28
Dimensional International Small Cap ETF			32
Dimensional International High Profitability ETF			36
Dimensional Emerging Core Equity Market ETF			39
Dimensional Emerging Markets High Profitability ETF			43
Dimensional Emerging Markets Value ETF			46
Dimensional Emerging Markets Core Equity 2 ETF			49
Statements of Assets and Liabilities			53
Statements of Operations			58
Statements of Changes in Net Assets			63
Financial Highlights			70
Notes to Financial Statements			77
Results of the Shareholder Meeting			91
Voting Proxies on Fund Portfolio Securities			92
Statement Regarding Liquidity Risk Management Program			93
Board Approval of Investment Management Agreements			95

This report is submitted for the information of each Fund’s shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.

DIMENSIONAL ETF TRUST

DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES

(Unaudited)


Summary Schedules of Investments

Investment Abbreviations

ADR		American Depositary Receipt

GDR		Global Depositary Receipt

PLC		Public Limited Company

SA		Special Assessment

Investment Footnotes

†		See Note B to Financial Statements.

‡		Calculated as a percentage of total net assets. Percentages shown parenthetically next to the category headings have been calculated as a percentage of total investments. “Other Securities” are those securities that are not among the top 50 holdings in unaffiliated issuers of the Fund or do not represent more than 1.0% of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities.

*		Non-Income Producing Security

§		Affiliated Fund

@		Security purchased with cash collateral received from Securities on Loan

#		Total or Partial Securities on Loan

Financial Highlights

(**)		The net asset value per share for financial reporting purposes differs from the NAV reported due to adjustments made in accordance with accounting principles generally accepted in the United States of America

(a)		Computed using average shares outstanding

(b)		Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, if any, and redemption on the last day of the period at net asset value. This percentage is not an indication of the performance of a shareholder’s investment in the Fund based on market value due to differences between the market price of the shares and the net asset value per share of the Fund

(c)		Not annualized for periods less than one year

(d)		Market value total return is calculated assuming an initial investment made at the market value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, if any, and redemption on the last day of the period at market value. Market value is determined by the composite closing price. Composite closing security price is defined as the last reported sale price from any primary listing market (e.g., NYSE Arca) or participating regional exchanges or markets. The composite closing price is the last reported sale price from any of the eligible sources, regardless of volume and not an average price and may have occurred on a date prior to the close of the reporting period. Market value may be greater or less than net asset value, depending on the Fund’s closing price on the listing market

(e)		Annualized for periods less than one year

(f)		Excludes impact of in-kind transactions

All Statements, Schedules and Notes to Financial Statements

—		Amounts designated as — are either zero or rounded to zero

SEC		Securities and Exchange Commission

DIMENSIONAL ETF TRUST

DISCLOSURE OF FUND EXPENSES

(Unaudited)

The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses and legal and audit services, which are deducted from a fund’s gross income, directly reduce the investment return of the fund. A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The Expense Tables below illustrate your fund’s costs in two ways.

Actual Fund Return

This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The “Ending Account Value” shown is derived from the fund’s actual return and “Expenses Paid During Period” reflects the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading “Expenses Paid During Period.”

Hypothetical Example for Comparison Purposes

This section is intended to help you compare your fund’s costs with those of other mutual funds. The hypothetical “Ending Account Value” and “Expenses Paid During Period” are derived from the fund’s actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund’s actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, such as brokerage commissions, if applicable. The “Annualized Expense Ratio” represents the actual expenses for the six-month period indicated.


		For the period ended April 30, 2022
Expense Tables
	Beginning Account Value 11/1/2021		Ending Account Value 4/30/2022		Annualized Expense Ratio			Expenses Paid During Period(a)
Dimensional US Core Equity Market ETF
Actual Fund Return	$	1,000.00	$	902.40		0.12	%	$	0.57
Hypothetical 5% Annual Return	$	1,000.00	$	1,024.20		0.12	%	$	0.60

Dimensional US High Profitability ETF
Actual Fund Return(b)	$	1,000.00	$	1,006.10		0.22	%	$	0.40
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.70		0.22	%	$	1.10

DISCLOSURE OF FUND EXPENSES

CONTINUED


	Beginning Account Value 11/1/2021		Ending Account Value 4/30/2022		Annualized Expense Ratio			Expenses Paid During Period(a)

Dimensional US Real Estate ETF
Actual Fund Return(b)	$	1,000.00	$	1,056.00		0.19	%	$	0.35
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.85		0.19	%	$	0.95

Dimensional US Small Cap Value ETF
Actual Fund Return(b)	$	1,000.00	$	983.30		0.31	%	$	0.56
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.26		0.31	%	$	1.56

Dimensional International Core Equity Market ETF
Actual Fund Return	$	1,000.00	$	916.60		0.18	%	$	0.86
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.90		0.18	%	$	0.90

Dimensional International Core Equity 2 ETF
Actual Fund Return(c)	$	1,000.00	$	943.90		0.23	%	$	0.23
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.65		0.23	%	$	1.15

Dimensional International Small Cap Value ETF
Actual Fund Return(c)	$	1,000.00	$	940.50		0.42	%	$	0.42
Hypothetical 5% Annual Return	$	1,000.00	$	1,022.71		0.42	%	$	2.11

Dimensional International Small Cap ETF
Actual Fund Return(c)	$	1,000.00	$	936.10		0.39	%	$	0.39
Hypothetical 5% Annual Return	$	1,000.00	$	1,022.86		0.39	%	$	1.96

Dimensional International High Profitability ETF
Actual Fund Return(c)	$	1,000.00	$	939.90		0.29	%	$	0.29
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.36		0.29	%	$	1.45

Dimensional Emerging Core Equity Market ETF
Actual Fund Return	$	1,000.00	$	904.70		0.35	%	$	1.65
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.06		0.35	%	$	1.76

Dimensional Emerging Markets High Profitability ETF
Actual Fund Return(d)	$	1,000.00	$	1,020.20		0.41	%	$	0.05
Hypothetical 5% Annual Return	$	1,000.00	$	1,022.76		0.41	%	$	2.06

Dimensional Emerging Markets Value ETF
Actual Fund Return(d)	$	1,000.00	$	1,012.60		0.43	%	$	0.05
Hypothetical 5% Annual Return	$	1,000.00	$	1,022.66		0.43	%	$	2.16

Dimensional Emerging Markets Core Equity 2 ETF
Actual Fund Return(d)	$	1,000.00	$	1,018.20		0.39	%	$	0.04
Hypothetical 5% Annual Return	$	1,000.00	$	1,022.86		0.39	%	$	1.96

(a)

Expenses are equal to the Fund’s annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (181), then divided by the number of days in the year (365) (to reflect the six-month period).

DISCLOSURE OF FUND EXPENSES

CONTINUED

(b)	Information shown reflects values for the stub period of 66 days from February 23, 2022 (commencement of operations) to April 30, 2022 and has been calculated using expense ratios and rates of returns for the same period.

(c)	Information shown reflects values for the stub period of 38 days from March 23, 2022 (commencement of operations) to April 30, 2022 and has been calculated using expense ratios and rates of returns for the same period.

(d)	Information shown reflects values for the stub period of 4 days from April 26, 2022 (commencement of operations) to April 30, 2022 and has been calculated using expense ratios and rates of returns for the same period.

DIMENSIONAL ETF TRUST

DISCLOSURE OF PORTFOLIO HOLDINGS

(Unaudited)

The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters as an exhibit to their reports on Form N-PORT. For Dimensional ETF Trust, this would be for the fiscal quarters ending January 31 and July 31. Such Form N-PORT filing must be made within 60 days of the end of the quarter. Dimensional ETF Trust filed its most recent Form N-PORT with the SEC on March 31, 2022. They are available upon request, without charge, by calling collect: (512) 306-7400; by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, TX 78746; or by visiting the SEC’s website at http://www.sec.gov.

SEC regulations permit a fund to include in its reports to shareholders a “Summary Schedule of Portfolio Holdings” in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund’s 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund’s net assets at the end of the reporting period. The regulations also require that the Summary Schedule of Portfolio Holdings identify each category of investments that are held.

A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400; by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, TX 78746; or by visiting the SEC’s website at http://www.sec.gov.

PORTFOLIO HOLDINGS

The SEC requires that all funds present their categories of portfolio holdings in a table, chart, or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is used. The following table, which presents portfolio holdings as a percentage of total investments before short-term investments and collateral for loaned securities, is provided in compliance with this requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications.


Dimensional US Core Equity Market ETF
Communication Services	7.6	%
Consumer Discretionary	11.4	%
Consumer Staples	6.9	%
Energy	5.0	%
Financials	12.7	%
Health Care	12.7	%
Industrials	10.5	%
Information Technology	25.6	%
Materials	3.9	%
Real Estate	0.2	%
Utilities	3.5	%

	100.0	%


Dimensional US High Profitability ETF
Communication Services	3.3	%
Consumer Discretionary	17.5	%
Consumer Staples	12.3	%
Energy	1.3	%
Financials	5.1	%
Health Care	11.4	%
Industrials	14.7	%
Information Technology	29.5	%
Materials	4.7	%
Utilities	0.2	%

	100.0	%


Dimensional US Real Estate ETF
Real Estate	100.0	%

	100.0	%


Dimensional US Small Cap Value ETF
Communication Services	2.4	%
Consumer Discretionary	13.1	%
Consumer Staples	4.1	%
Energy	10.4	%
Financials	27.1	%
Health Care	4.6	%
Industrials	21.3	%
Information Technology	7.3	%
Materials	8.0	%
Real Estate	0.9	%
Utilities	0.8	%

	100.0	%


Dimensional International Core Equity Market ETF
Communication Services	4.8	%
Consumer Discretionary	11.2	%
Consumer Staples	8.8	%
Energy	6.6	%
Financials	18.4	%
Health Care	10.9	%
Industrials	16.7	%
Information Technology	7.6	%
Materials	10.3	%
Real Estate	1.1	%
Utilities	3.6	%

	100.0	%


Dimensional International Core Equity 2 ETF
Communication Services	5.4	%
Consumer Discretionary	11.9	%
Consumer Staples	8.0	%
Energy	6.7	%
Financials	16.1	%
Health Care	7.9	%
Industrials	18.2	%
Information Technology	7.5	%
Materials	12.4	%
Real Estate	2.4	%
Utilities	3.5	%

	100.0	%

DIMENSIONAL ETF TRUST

DISCLOSURE OF PORTFOLIO HOLDINGS

(Unaudited)


Dimensional International Small Cap Value ETF
Communication Services	3.6	%
Consumer Discretionary	12.8	%
Consumer Staples	4.9	%
Energy	8.6	%
Financials	18.4	%
Health Care	3.6	%
Industrials	20.3	%
Information Technology	4.7	%
Materials	18.6	%
Real Estate	3.8	%
Utilities	0.7	%

	100.0	%


Dimensional International Small Cap ETF
Communication Services	4.5	%
Consumer Discretionary	12.5	%
Consumer Staples	5.9	%
Energy	6.1	%
Financials	11.3	%
Health Care	5.9	%
Industrials	22.5	%
Information Technology	10.7	%
Materials	12.3	%
Real Estate	4.5	%
Utilities	3.8	%

	100.0	%


Dimensional International High Profitability ETF
Communication Services	7.9	%
Consumer Discretionary	15.2	%
Consumer Staples	9.8	%
Energy	6.0	%
Financials	5.1	%
Health Care	12.5	%
Industrials	17.4	%
Information Technology	9.6	%
Materials	13.9	%
Real Estate	0.4	%
Utilities	2.2	%

	100.0	%


Dimensional Emerging Core Equity Market ETF
Communication Services	8.5	%
Consumer Discretionary	11.1	%
Consumer Staples	5.6	%
Energy	5.7	%
Financials	19.8	%
Health Care	3.7	%
Industrials	7.8	%
Information Technology	20.3	%
Materials	11.8	%
Real Estate	2.7	%
Utilities	3.0	%

	100.0	%


Dimensional Emerging Markets High Profitability ETF
Communication Services	14.8	%
Consumer Discretionary	10.0	%
Consumer Staples	9.1	%
Energy	5.4	%
Financials	4.2	%
Health Care	2.8	%
Industrials	5.3	%
Information Technology	28.3	%
Materials	17.2	%
Real Estate	2.1	%
Utilities	0.8	%

	100.0	%


Dimensional Emerging Markets Value ETF
Communication Services	3.0	%
Consumer Discretionary	7.7	%
Consumer Staples	2.5	%
Energy	13.1	%
Financials	28.0	%
Health Care	2.2	%
Industrials	8.2	%
Information Technology	11.3	%
Materials	17.5	%
Real Estate	5.4	%
Utilities	1.1	%

	100.0	%


Dimensional Emerging Markets Core Equity 2 ETF
Communication Services	8.5	%
Consumer Discretionary	9.4	%
Consumer Staples	6.3	%
Energy	5.2	%
Financials	16.0	%
Health Care	4.6	%
Industrials	9.1	%
Information Technology	21.1	%
Materials	14.1	%
Real Estate	3.3	%
Utilities	2.4	%

	100.0	%

DIMENSIONAL US CORE EQUITY MARKET ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (99.3%)
COMMUNICATION SERVICES — (7.5%)
*	Alphabet, Inc., Class A		13,171	$	30,058,724		1.6%
*	Alphabet, Inc., Class C		12,745		29,304,961		1.5%
	Comcast Corp., Class A		230,364		9,159,273		0.5%
*	Meta Platforms, Inc., Class A		107,125		21,475,349		1.1%
	Verizon Communications, Inc.		239,928		11,108,666		0.6%
*	Walt Disney Co. (The)		62,170		6,940,037		0.4%
	Other Securities				37,071,760		1.9%


TOTAL COMMUNICATION SERVICES					145,118,770		7.6%


CONSUMER DISCRETIONARY — (11.4%)
*	Amazon.com, Inc.		19,507		48,487,184		2.5%
	Home Depot, Inc. (The)		45,859		13,776,044		0.7%
	Lowe’s Cos., Inc.		34,305		6,783,128		0.4%
	McDonald’s Corp.		36,053		8,982,965		0.5%
	Target Corp.		31,892		7,292,106		0.4%
*	Tesla, Inc.		35,071		30,538,424		1.6%
	Other Securities				103,487,502		5.3%


TOTAL CONSUMER DISCRETIONARY					219,347,353		11.4%


CONSUMER STAPLES — (6.9%)
	Coca-Cola Co. (The)		189,738		12,258,972		0.6%
	Costco Wholesale Corp.		20,105		10,690,231		0.6%
	PepsiCo., Inc.		73,647		12,645,926		0.7%
	Philip Morris International, Inc.		69,862		6,986,200		0.4%
	Procter & Gamble Co. (The)		121,620		19,526,091		1.0%
	Walmart, Inc.		76,219		11,660,745		0.6%
	Other Securities				59,609,448		3.0%


TOTAL CONSUMER STAPLES					133,377,613		6.9%


ENERGY — (5.0%)
	Chevron Corp.		85,168		13,343,271		0.7%
	Exxon Mobil Corp.		195,533		16,669,188		0.9%
	Other Securities				66,495,456		3.4%


TOTAL ENERGY					96,507,915		5.0%


FINANCIALS — (12.6%)
	Bank of America Corp.		332,069		11,848,222		0.6%
*	Berkshire Hathaway, Inc., Class B		71,726		23,155,305		1.2%
	JPMorgan Chase & Co.		143,296		17,103,811		0.9%
	Wells Fargo & Co.		168,381		7,346,463		0.4%
	Other Securities				184,385,955		9.6%


TOTAL FINANCIALS					243,839,756		12.7%


HEALTH CARE — (12.6%)
	AbbVie, Inc.		96,979		14,244,276		0.8%
	Bristol-Myers Squibb Co.		100,623		7,573,893		0.4%
	CVS Health Corp.		76,435		7,347,697		0.4%
	Eli Lilly & Co.		37,907		11,073,772		0.6%
	Johnson & Johnson		133,811		24,147,533		1.3%
	Merck & Co., Inc.		90,366		8,014,561		0.4%
	Pfizer, Inc.		255,058		12,515,696		0.7%
	Thermo Fisher Scientific, Inc.		12,658		6,998,861		0.4%

DIMENSIONAL US CORE EQUITY MARKET ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
HEALTH CARE — (Continued)
	UnitedHealth Group, Inc.		44,193	$	22,474,350		1.2%
	Other Securities				129,577,772		6.5%


TOTAL HEALTH CARE					243,968,411		12.7%


INDUSTRIALS — (10.4%)
	Caterpillar, Inc.		32,661		6,876,447		0.4%
	Raytheon Technologies Corp.		76,239		7,235,843		0.4%
	Union Pacific Corp.		38,465		9,011,965		0.5%
	United Parcel Service, Inc., Class B		39,980		7,195,600		0.4%
	Other Securities				170,721,355		8.8%


TOTAL INDUSTRIALS					201,041,210		10.5%


INFORMATION TECHNOLOGY — (25.4%)
	Accenture PLC, Class A		25,298		7,598,507		0.4%
	Apple, Inc.		752,640		118,653,696		6.2%
	Broadcom, Inc.		23,625		13,097,464		0.7%
	Cisco Systems, Inc.		204,643		10,023,414		0.5%
	Intel Corp.		250,220		10,907,090		0.6%
	Mastercard, Inc., Class A		45,038		16,365,908		0.9%
	Microsoft Corp.		325,363		90,294,740		4.7%
	NVIDIA Corp.		100,045		18,555,346		1.0%
	QUALCOMM, Inc.		56,333		7,869,157		0.4%
	Texas Instruments, Inc.		48,777		8,304,284		0.4%
	Visa, Inc., Class A		81,051		17,274,400		0.9%
	Other Securities				171,713,838		8.8%


TOTAL INFORMATION TECHNOLOGY					490,657,844		25.5%


MATERIALS — (3.8%)
	Linde PLC		24,129		7,527,283		0.4%
	Other Securities				66,530,807		3.5%


TOTAL MATERIALS					74,058,090		3.9%


REAL ESTATE — (0.2%)
	Other Securities				3,995,570		0.2%


UTILITIES — (3.5%)
	NextEra Energy, Inc.		97,723		6,940,287		0.4%
	Other Securities				59,443,106		3.1%


TOTAL UTILITIES					66,383,393		3.5%


TOTAL COMMON STOCK					1,918,295,925		99.9%


RIGHTS/WARRANTS — (0.0%)

HEALTH CARE — (0.0%)
	Other Securities				1,229		0.0%


TOTAL RIGHTS/WARRANTS					1,229		0.0%


TOTAL INVESTMENT SECURITIES — (99.3%)
(Cost $1,968,656,177)					1,918,297,154

SECURITIES LENDING COLLATERAL — (0.7%)
@§	The DFA Short Term Investment Fund		1,192,832		13,800,475		0.7%


TOTAL INVESTMENTS — 100.0%
(Cost $1,982,456,652)					1,932,097,629		100.6%

DIMENSIONAL US CORE EQUITY MARKET ETF

CONTINUED

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Communication Services	$	145,118,770	$	—	$	—	$	145,118,770
Consumer Discretionary		219,347,353		—		—		219,347,353
Consumer Staples		133,377,613		—		—		133,377,613
Energy		96,507,915		—		—		96,507,915
Financials		243,839,756		—		—		243,839,756
Health Care		243,968,411		—		—		243,968,411
Industrials		201,041,210		—		—		201,041,210
Information Technology		490,657,844		—		—		490,657,844
Materials		74,058,090		—		—		74,058,090
Real Estate		3,995,570		—		—		3,995,570
Utilities		66,383,393		—		—		66,383,393
Rights/Warrants
Health Care		—		1,229		—		1,229
Collateral for Securities on Loan		13,800,475		—		—		13,800,475

Total Investments	$	1,932,096,400	$	1,229	$	—	$	1,932,097,629

See accompanying Notes to Financial Statements.

DIMENSIONAL US HIGH PROFITABILITY ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets^‡
COMMON STOCKS — (100.0%)
COMMUNICATION SERVICES — (3.3%)
*	Charter Communications, Inc., Class A		3,494	$	1,497,144		0.7%
	Verizon Communications, Inc.		114,353		5,294,544		2.3%
	Other Securities				757,456		0.3%


TOTAL COMMUNICATION SERVICES					7,549,144		3.3%


CONSUMER DISCRETIONARY — (17.5%)
*	Amazon.com, Inc.		3,258		8,098,183		3.5%
	Home Depot, Inc. (The)		19,556		5,874,622		2.6%
	Lowe’s Cos., Inc.		12,250		2,422,192		1.1%
*	Lululemon Athletica, Inc.		4,779		1,694,777		0.7%
	NIKE, Inc., Class B		24,819		3,094,929		1.4%
	Ross Stores, Inc.		20,769		2,072,123		0.9%
	Target Corp.		13,928		3,184,637		1.4%
	TJX Cos, Inc. (The)		32,767		2,007,962		0.9%
	Other Securities				11,252,755		4.9%


TOTAL CONSUMER DISCRETIONARY					39,702,180		17.4%


CONSUMER STAPLES — (12.3%)
	Altria Group, Inc.		34,444		1,914,053		0.8%
	Coca-Cola Co. (The)		56,546		3,653,437		1.6%
	Costco Wholesale Corp.		8,860		4,711,039		2.1%
	Kroger Co. (The)		38,134		2,057,711		0.9%
	PepsiCo., Inc.		32,177		5,525,113		2.4%
	Procter & Gamble Co. (The)		20,852		3,347,789		1.5%
	Other Securities				6,840,468		3.0%


TOTAL CONSUMER STAPLES					28,049,610		12.3%


ENERGY — (1.3%)
	Occidental Petroleum Corp.		51,215		2,821,434		1.2%
	Other Securities				144,050		0.1%


TOTAL ENERGY					2,965,484		1.3%


FINANCIALS — (5.1%)
	American Express Co.		16,134		2,818,771		1.2%
	Ameriprise Financial, Inc.		6,231		1,654,268		0.7%
	Aon PLC, Class A		5,052		1,454,926		0.7%
	Discover Financial Services		14,734		1,656,986		0.7%
	S&P Global, Inc.		4,036		1,519,554		0.7%
	Other Securities				2,575,816		1.1%


TOTAL FINANCIALS					11,680,321		5.1%


HEALTH CARE — (11.4%)
	AbbVie, Inc.		40,191		5,903,254		2.6%
	Amgen, Inc.		13,441		3,134,307		1.4%
	Eli Lilly & Co.		18,037		5,269,149		2.3%
	Gilead Sciences, Inc.		36,257		2,151,491		0.9%
	Other Securities				9,557,927		4.2%


TOTAL HEALTH CARE					26,016,128		11.4%


INDUSTRIALS — (14.7%)
	3M Co.		16,463		2,374,294		1.0%
	Caterpillar, Inc.		13,653		2,874,503		1.3%

DIMENSIONAL US HIGH PROFITABILITY ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets^‡
INDUSTRIALS (Continued)
	Cintas Corp.		5,285	$	2,099,519		0.9%
	Deere & Co.		7,301		2,756,493		1.2%
*	Delta Air Lines, Inc.		37,659		1,620,467		0.7%
	Illinois Tool Works, Inc.		7,053		1,390,217		0.6%
	Lockheed Martin Corp.		7,062		3,051,631		1.3%
	Union Pacific Corp.		17,950		4,205,505		1.8%
	United Parcel Service, Inc., Class B		17,742		3,193,205		1.4%
*	United Rentals, Inc.		4,608		1,458,524		0.6%
	Other Securities				8,365,245		3.8%


TOTAL INDUSTRIALS					33,389,603		14.6%


INFORMATION TECHNOLOGY — (29.5%)
	Accenture PLC, Class A		13,608		4,087,299		1.8%
	Apple, Inc.		63,820		10,061,223		4.4%
	Applied Materials, Inc.		25,515		2,815,580		1.2%
	Automatic Data Processing, Inc.		10,486		2,287,835		1.0%
	Broadcom, Inc.		11,698		6,485,254		2.9%
	International Business Machines Corp.		25,094		3,317,678		1.5%
	Mastercard, Inc., Class A		16,818		6,111,325		2.7%
	Microsoft Corp.		36,576		10,150,572		4.5%
	Oracle Corp.		38,210		2,804,614		1.2%
	QUALCOMM, Inc.		24,993		3,491,272		1.5%
	Texas Instruments, Inc.		25,298		4,306,984		1.9%
	Other Securities				11,281,813		4.9%


TOTAL INFORMATION TECHNOLOGY					67,201,449		29.5%


MATERIALS — (4.7%)
	LyondellBasell Industries NV, Class A		20,438		2,167,041		1.0%
	Nucor Corp.		14,912		2,308,079		1.0%
	Sherwin-Williams Co. (The)		5,730		1,575,521		0.7%
	Other Securities				4,634,622		2.0%


TOTAL MATERIALS					10,685,263		4.7%


UTILITIES — (0.2%)
	Other Securities				471,977		0.2%


TOTAL Common Stocks
(Cost $236,720,879)					227,711,159		99.8%


TOTAL INVESTMENT SECURITIES — (100.0%)
(Cost $236,720,879)					227,711,159


TOTAL INVESTMENTS — 100.0%
(Cost $236,720,879)					227,711,159		99.8%

DIMENSIONAL US HIGH PROFITABILITY ETF

CONTINUED

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Communication Services	$	7,549,144	$	—	$	—	$	7,549,144
Consumer Discretionary		39,702,180		—		—		39,702,180
Consumer Staples		28,049,610		—		—		28,049,610
Energy		2,965,484		—		—		2,965,484
Financials		11,680,321		—		—		11,680,321
Health Care		26,016,128		—		—		26,016,128
Industrials		33,389,603		—		—		33,389,603
Information Technology		67,201,449		—		—		67,201,449
Materials		10,685,263		—		—		10,685,263
Utilities		471,977		—		—		471,977

Total Investments	$	227,711,159	$	—	$	—	$	227,711,159

See accompanying Notes to Financial Statements.

DIMENSIONAL US REAL ESTATE ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (100.0%)
REAL ESTATE — (100.0%)
	Alexandria Real Estate Equities, Inc.		6,351	$	1,156,898		1.9%
	American Campus Communities, Inc.		5,715		369,589		0.6%
	American Homes 4 Rent, Class A		13,683		541,984		0.9%
	American Tower Corp.		19,073		4,596,974		7.7%
	Americold Realty Trust		11,191		295,219		0.5%
	Apartment Income REIT Corp.		6,578		323,440		0.5%
	AvalonBay Communities, Inc.		5,843		1,329,166		2.2%
	Boston Properties, Inc.		6,211		730,414		1.2%
	Brixmor Property Group, Inc.		12,501		317,275		0.5%
	Camden Property Trust		4,327		678,863		1.1%
	Crown Castle International Corp.		18,104		3,353,042		5.6%
	CubeSmart		9,160		435,192		0.7%
	Digital Realty Trust, Inc.		11,925		1,742,481		2.9%
	Duke Realty Corp.		16,097		881,311		1.5%
	EastGroup Properties, Inc.		1,748		327,750		0.6%
	Equinix, Inc.		3,818		2,745,447		4.6%
	Equity LifeStyle Properties, Inc.		7,406		572,336		1.0%
	Equity Residential		14,975		1,220,462		2.0%
	Essex Property Trust, Inc.		2,715		893,968		1.5%
	Extra Space Storage, Inc.		5,612		1,066,280		1.8%
	Federal Realty Investment Trust		2,945		344,742		0.6%
	First Industrial Realty Trust, Inc.		5,520		320,160		0.5%
	Gaming and Leisure Properties, Inc.		9,845		436,921		0.7%
	Healthcare Trust of America, Inc., Class A		9,294		283,095		0.5%
	Healthpeak Properties, Inc.		22,758		746,690		1.3%
	Host Hotels & Resorts, Inc.		30,131		613,166		1.0%
	Invitation Homes, Inc.		25,317		1,008,123		1.7%
	Iron Mountain, Inc.		12,147		652,658		1.1%
	Kilroy Realty Corp.		4,416		309,120		0.5%
	Kimco Realty Corp.		24,671		624,916		1.0%
	Lamar Advertising Co., Class A		3,634		401,230		0.7%
	Life Storage, Inc.		3,452		457,355		0.8%
	Medical Properties Trust, Inc.		25,111		461,791		0.8%
	Mid-America Apartment Communities, Inc.		4,830		949,964		1.6%
	National Retail Properties, Inc.		7,360		322,662		0.5%
	Prologis, Inc.		31,005		4,969,791		8.3%
	Public Storage		6,624		2,460,816		4.1%
	Realty Income Corp.		24,302		1,685,587		2.8%
	Regency Centers Corp.		6,441		443,334		0.7%
	Rexford Industrial Realty, Inc.		6,721		524,507		0.9%
	SBA Communications Corp.		4,554		1,580,739		2.6%
	Simon Property Group, Inc.		14,368		1,695,424		2.8%
	STAG Industrial, Inc.		7,453		278,146		0.5%
	STORE Capital Corp.		10,305		292,971		0.5%
	Sun Communities, Inc.		5,011		879,781		1.5%
	UDR, Inc.		13,380		711,950		1.2%
	Ventas, Inc.		16,769		931,518		1.6%
	VICI Properties, Inc.		38,513		1,148,060		1.9%
	Welltower, Inc.		18,777		1,705,139		2.9%
	WP Carey, Inc.		8,005		646,564		1.1%
	Other Securities				8,307,566		13.9%


TOTAL REAL ESTATE					59,772,577		99.9%

DIMENSIONAL US REAL ESTATE ETF

CONTINUED


	Shares	Value†		Percentage of Net Assets‡

TOTAL Common Stocks
(Cost $60,284,432)		$	59,772,577		99.9%


TOTAL INVESTMENT SECURITIES — (100.0%)
(Cost $60,284,432)			59,772,577


TOTAL INVESTMENTS — 100.0%
(Cost $60,284,432)			59,772,577		99.9%

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Real Estate	$	59,772,577	$	—	$	—	$	59,772,577

Total Investments	$	59,772,577	$	—	$	—	$	59,772,577

See accompanying Notes to Financial Statements.

DIMENSIONAL US SMALL CAP VALUE ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (100.0%)
COMMUNICATION SERVICES — (2.4%)
	Other Securities			$	1,145,652		2.4%


CONSUMER DISCRETIONARY — (13.1%)
*	AutoNation, Inc.		2,273		263,463		0.5%
	Foot Locker, Inc.		7,798		228,559		0.5%
*	Goodyear Tire & Rubber Co. (The)		22,208		295,811		0.6%
	MDC Holdings, Inc.		6,058		223,601		0.5%
	Penske Automotive Group, Inc.		2,622		274,838		0.6%
*	Taylor Morrison Home Corp.		10,460		273,947		0.6%
	Other Securities				4,802,553		9.8%


TOTAL CONSUMER DISCRETIONARY					6,362,772		13.1%


CONSUMER STAPLES — (4.1%)
*	Hostess Brands, Inc.		11,333		257,146		0.5%
	Ingredion, Inc.		2,675		227,669		0.5%
*	United Natural Foods, Inc.		5,134		220,403		0.5%
	Other Securities				1,263,713		2.6%


TOTAL CONSUMER STAPLES					1,968,931		4.1%


ENERGY — (10.4%)
*	Antero Resources Corp.		8,674		305,325		0.6%
*	CNX Resources Corp.		14,069		289,118		0.6%
	Helmerich & Payne, Inc.		4,802		221,036		0.5%
	Murphy Oil Corp.		11,349		432,170		0.9%
	PDC Energy, Inc.		7,427		517,959		1.1%
	Other Securities				3,293,438		6.7%


TOTAL ENERGY					5,059,046		10.4%


FINANCIALS — (27.1%)
	American Equity Investment Life Holding Co.		8,349		314,924		0.7%
	Associated Banc-Corp.		11,944		238,283		0.5%
	Assured Guaranty, Ltd.		4,189		231,023		0.5%
	Bank OZK		8,133		312,470		0.6%
*	Enstar Group, Ltd.		906		213,590		0.4%
	FNB Corp.		25,321		291,698		0.6%
	Fulton Financial Corp.		14,196		215,353		0.4%
	International Bancshares Corp.		6,322		251,552		0.5%
	Navient Corp.		16,082		255,543		0.5%
	Nelnet, Inc., Class A		3,163		259,587		0.5%
	New York Community BanCorp, Inc.		27,354		252,751		0.5%
	Old National BanCorp		17,593		266,710		0.6%
	Popular, Inc.		3,935		306,891		0.6%
	United Bankshares, Inc.		7,371		245,159		0.5%
	Unum Group		11,878		362,517		0.8%
	Valley National BanCorp		23,722		284,190		0.6%
	Washington Federal, Inc.		7,064		214,958		0.4%
	Other Securities				8,612,780		17.9%


TOTAL FINANCIALS					13,129,979		27.1%


HEALTH CARE — (4.7%)
*	Acadia Healthcare Co., Inc.		6,487		440,338		0.9%
	Other Securities				1,814,471		3.7%


TOTAL HEALTH CARE					2,254,809		4.6%

DIMENSIONAL US SMALL CAP VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

INDUSTRIALS — (21.3%)
	ABM Industries, Inc.		5,025	$	242,557		0.5%
	Air Lease Corp.		8,085		325,664		0.7%
*	Beacon Roofing Supply, Inc.		5,052		301,251		0.6%
*	CACI International, Inc., Class A		914		242,484		0.5%
INDUSTRIALS (Continued)
	Encore Wire Corp.		1,984		223,815		0.5%
	GATX Corp.		2,861		295,799		0.6%
	Triton International, Ltd.		5,306		324,144		0.7%
*	Univar Solutions, Inc.		7,801		227,165		0.5%
*	WESCO International, Inc.		3,527		434,738		0.9%
	Other Securities				7,692,301		15.8%


TOTAL INDUSTRIALS					10,309,918		21.3%


INFORMATION TECHNOLOGY — (7.3%)
	Amkor Technology, Inc.		19,133		359,892		0.7%
	Avnet, Inc.		5,101		222,710		0.5%
*	Insight Enterprises, Inc.		2,571		255,480		0.5%
*	Sanmina Corp.		6,164		252,046		0.5%
	Other Securities				2,426,837		5.1%


TOTAL INFORMATION TECHNOLOGY					3,516,965		7.3%


MATERIALS — (8.0%)
	Ashland Global Holdings, Inc.		2,124		222,956		0.5%
	Commercial Metals Co.		9,227		378,307		0.8%
	Element Solutions, Inc.		18,665		384,872		0.8%
	United States Steel Corp.		7,777		237,121		0.5%
	Other Securities				2,642,393		5.4%


TOTAL MATERIALS					3,865,649		8.0%


REAL ESTATE — (0.8%)
*	Howard Hughes Corp. (The)		2,115		212,113		0.5%
	Other Securities				200,311		0.3%


TOTAL REAL ESTATE					412,424		0.8%


UTILITIES — (0.8%)
	Other Securities				406,231		0.8%


TOTAL Common Stocks
(Cost $50,702,887)					48,432,376		99.9%


TOTAL INVESTMENT SECURITIES — (100.0%)
(Cost $50,702,887)					48,432,376


TOTAL INVESTMENTS — 100.0%
(Cost $50,702,887)				$	48,432,376		99.9%

DIMENSIONAL US SMALL CAP VALUE ETF

CONTINUED

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Communication Services	$	1,145,652	$	—	$	—	$	1,145,652
Consumer Discretionary		6,362,772		—		—		6,362,772
Consumer Staples		1,968,931		—		—		1,968,931
Energy		5,059,046		—		—		5,059,046
Financials		13,129,979		—		—		13,129,979
Health Care		2,254,809		—		—		2,254,809
Industrials		10,309,918		—		—		10,309,918
Information Technology		3,516,965		—		—		3,516,965
Materials		3,865,649		—		—		3,865,649
Real Estate		412,424		—		—		412,424
Utilities		406,231		—		—		406,231

Total Investments	$	48,432,376	$	—	$	—	$	48,432,376

See accompanying Notes to Financial Statements.

DIMENSIONAL INTERNATIONAL CORE EQUITY MARKET ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (97.1%)
AUSTRALIA — (7.5%)
	BHP Group, Ltd.		168,717	$	5,772,176		0.4%
#	BHP Group, Ltd., Sponsored ADR		106,662		7,144,221		0.5%
	Commonwealth Bank of Australia		115,793		8,548,123		0.6%
	CSL, Ltd.		36,741		7,135,873		0.5%
	National Australia Bank, Ltd.		278,644		6,461,350		0.5%
	Other Securities				75,743,546		5.1%


TOTAL AUSTRALIA					110,805,289		7.6%


AUSTRIA — (0.2%)
	Other Securities				3,400,383		0.2%


BELGIUM — (0.8%)
	Other Securities				11,937,741		0.8%


CANADA — (11.5%)
#	Canadian Natural Resources, Ltd.		78,513		4,857,599		0.3%
	Enbridge, Inc.		109,326		4,770,987		0.3%
#	Royal Bank of Canada		49,125		4,987,261		0.4%
	Royal Bank of Canada		60,650		6,127,470		0.4%
#	Toronto-Dominion Bank (The)		65,677		4,744,507		0.3%
	Other Securities				145,708,661		10.1%


TOTAL CANADA					171,196,485		11.8%


CHINA — (0.0%)
	Other Securities				2,274		0.0%


DENMARK — (2.3%)
	Novo Nordisk A/S, Class B		121,797		14,030,846		1.0%
	Other Securities				19,953,096		1.3%


TOTAL DENMARK					33,983,942		2.3%


FINLAND — (1.3%)
	Other Securities				19,149,611		1.3%


FRANCE — (8.5%)
	Air Liquide SA		30,816		5,375,107		0.4%
	Airbus SE		44,168		4,917,651		0.4%
	BNP Paribas SA		104,779		5,494,235		0.4%
	L’Oreal SA		13,269		4,883,959		0.3%
	LVMH Moet Hennessy Louis Vuitton SE		22,047		14,408,664		1.0%
#	Sanofi		68,073		7,266,118		0.5%
	TotalEnergies SE		194,612		9,695,595		0.7%
#	Vinci SA		48,592		4,759,187		0.3%
	Other Securities				69,542,284		4.7%


TOTAL FRANCE					126,342,800		8.7%


GERMANY — (6.9%)
	Allianz SE, Registered		32,447		7,400,535		0.5%
*	Bayer AG, Registered		75,585		5,015,557		0.4%
	Deutsche Telekom AG		300,296		5,566,141		0.4%
	SAP SE		67,453		6,942,341		0.5%
	Siemens AG, Registered		40,864		5,077,446		0.4%

DIMENSIONAL INTERNATIONAL CORE EQUITY MARKET ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
GERMANY — (Continued)
	Other Securities			$	73,363,160		4.9%


TOTAL GERMANY					103,365,180		7.1%


HONG KONG — (2.4%)
	AIA Group, Ltd.		812,600		8,052,312		0.6%
	Other Securities				27,549,507		1.8%


TOTAL HONG KONG					35,601,819		2.4%


IRELAND — (0.5%)
	Other Securities				8,144,468		0.6%


ISRAEL — (0.7%)
	Other Securities				10,791,169		0.7%


ITALY — (2.2%)
	Other Securities				32,730,046		2.3%


JAPAN — (20.8%)
	Astellas Pharma, Inc.		360,200		5,499,194		0.4%
	ITOCHU Corp.		157,400		4,776,913		0.3%
	KDDI Corp.		144,000		4,818,154		0.4%
	Mitsubishi UFJ Financial Group, Inc.		1,135,500		6,610,896		0.5%
	Recruit Holdings Co., Ltd.		137,700		5,120,705		0.4%
	SoftBank Corp.		493,500		5,770,705		0.4%
	Sony Group Corp.		103,500		8,963,183		0.6%
	Toyota Motor Corp.		831,700		14,350,612		1.0%
	Other Securities				252,898,446		17.2%


TOTAL JAPAN					308,808,808		21.2%


NETHERLANDS — (3.5%)
	ASML Holding NV		10,682		6,175,413		0.4%
	ASML Holding NV, Sponsored NYS		17,735		9,998,461		0.7%
	Koninklijke Ahold Delhaize NV		154,645		4,582,690		0.3%
	Other Securities				31,177,469		2.2%


TOTAL NETHERLANDS					51,934,033		3.6%


NEW ZEALAND — (0.3%)
	Other Securities				4,285,370		0.3%


NORWAY — (0.9%)
	Other Securities				13,009,077		0.9%


PORTUGAL — (0.2%)
	Other Securities				2,527,845		0.2%


SINGAPORE — (0.9%)
	Other Securities				13,109,952		0.9%


SPAIN — (1.9%)
	Iberdrola SA		424,712		4,933,041		0.4%
	Other Securities				23,921,391		1.6%


TOTAL SPAIN					28,854,432		2.0%


SWEDEN — (3.0%)
	Other Securities				44,358,808		3.0%

DIMENSIONAL INTERNATIONAL CORE EQUITY MARKET ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
SWITZERLAND — (8.3%)
	Nestle SA, Registered		192,287	$	24,960,760		1.7%
	Novartis AG, Sponsored ADR		94,962		8,359,505		0.6%
	Novartis AG, Registered		54,625		4,868,499		0.3%
	Roche Holding AG		52,688		19,671,490		1.4%
	Other Securities				65,498,581		4.5%


TOTAL SWITZERLAND					123,358,835		8.5%


UNITED KINGDOM — (12.5%)
	AstraZeneca PLC		92,563		12,420,758		0.9%
	BP PLC		1,501,441		7,380,907		0.5%
	British American Tobacco PLC		140,548		5,914,839		0.4%
	Diageo PLC		151,869		7,662,091		0.5%
	GlaxoSmithKline PLC		339,582		7,661,379		0.5%
	HSBC Holdings PLC		1,245,418		7,838,394		0.6%
	Rio Tinto PLC		96,861		6,938,969		0.5%
	Shell PLC		579,034		15,797,123		1.1%
	Unilever PLC		102,330		4,777,969		0.3%
	Other Securities				109,479,485		7.5%


TOTAL UNITED KINGDOM					185,871,914		12.8%


UNITED STATES — (0.0%)
	Other Securities				50,857		0.0%


TOTAL COMMON STOCKS					1,443,621,138		99.2%


RIGHTS/WARRANTS — (0.0%)
AUSTRALIA — (0.0%)
	Other Securities				—		0.0%


ITALY — (0.0%)
	Other Securities				—		0.0%


NEW ZEALAND — (0.0%)
	Other Securities				10,454		0.0%


SWITZERLAND — (0.0%)
	Other Securities				2,783		0.0%


TOTAL RIGHTS/WARRANTS					13,237		0.0%


TOTAL INVESTMENT SECURITIES — 97.1%
(Cost $1,558,416,385)					1,443,634,375

SECURITIES LENDING COLLATERAL — (2.9%)
@§	The DFA Short Term Investment Fund		3,780,110		43,733,981		3.0%


TOTAL INVESTMENTS — 100.0%
(Cost $1,602,150,366)					1,487,368,356		102.2%

DIMENSIONAL INTERNATIONAL CORE EQUITY MARKET ETF

CONTINUED

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Australia		$110,686,172		$119,117		$—		$110,805,289
Austria		3,400,383		—		—		3,400,383
Belgium		11,937,741		—		—		11,937,741
Canada		171,196,485		—		—		171,196,485
China		2,274		—		—		2,274
Denmark		33,983,942		—		—		33,983,942
Finland		19,149,611		—		—		19,149,611
France		126,342,800		—		—		126,342,800
Germany		103,365,180		—		—		103,365,180
Hong Kong		35,582,354		19,465		—		35,601,819
Ireland		8,144,468		—		—		8,144,468
Israel		10,791,169		—		—		10,791,169
Italy		32,730,046		—		—		32,730,046
Japan		308,808,808		—		—		308,808,808
Netherlands		51,934,033		—		—		51,934,033
New Zealand		4,197,753		87,617		—		4,285,370
Norway		13,009,077		—		—		13,009,077
Portugal		2,527,845		—		—		2,527,845
Singapore		13,109,952		—		—		13,109,952
Spain		28,800,747		53,685		—		28,854,432
Sweden		44,358,808		—		—		44,358,808
Switzerland		123,358,835		—		—		123,358,835
United Kingdom		185,828,603		43,311		—		185,871,914
United States		50,857		—		—		50,857
Rights/Warrants
Australia		—		—		—		—
Italy		—		—		—		—
New Zealand		—		10,454		—		10,454
Switzerland		2,783		—		—		2,783
Collateral for Securities on Loan		43,733,981		—		—		43,733,981

Total Investments		$1,487,034,707		$333,649		$—		$1,487,368,356

See accompanying Notes to Financial Statements.

DIMENSIONAL INTERNATIONAL CORE EQUITY 2 ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (100.0%)
AUSTRALIA — (7.2%)
	BHP Group, Ltd., Sponsored ADR		11,420	$	764,912		0.7%
	Commonwealth Bank of Australia		4,373		322,826		0.3%
	Other Securities				7,158,198		6.1%


TOTAL AUSTRALIA					8,245,936		7.1%


AUSTRIA — (0.5%)
	Other Securities				593,070		0.5%


BELGIUM — (1.2%)
	Other Securities				1,376,925		1.2%


CANADA — (12.1%)
	Bank of Montreal		4,563		483,861		0.4%
	Bank of Nova Scotia (The)		5,617		355,668		0.3%
	Canadian Natural Resources, Ltd.		5,395		333,789		0.3%
	Magna International, Inc.		4,643		279,834		0.3%
	National Bank of Canada		3,920		275,187		0.2%
	Royal Bank of Canada		8,345		843,095		0.7%
	Suncor Energy, Inc.		11,663		419,168		0.4%
	Toronto-Dominion Bank (The)		4,940		356,866		0.3%
	Other Securities				10,489,746		9.1%


TOTAL CANADA					13,837,214		12.0%


DENMARK — (2.3%)
	Novo Nordisk A/S, Sponsored ADR		5,655		644,670		0.6%
	Other Securities				1,962,190		1.7%


TOTAL DENMARK					2,606,860		2.3%


FINLAND — (1.6%)
	Other Securities				1,863,209		1.6%


FRANCE — (7.7%)
	Air Liquide SA		1,844		321,641		0.3%
	Cie Generale des Etablissements Michelin SCA		2,346		294,639		0.2%
	LVMH Moet Hennessy Louis Vuitton SE		895		584,921		0.5%
	TotalEnergies SE		13,755		685,276		0.6%
	Vinci SA		3,531		345,832		0.3%
	Other Securities				6,654,205		5.8%


TOTAL FRANCE					8,886,514		7.7%


GERMANY — (7.0%)
	Allianz SE, Registered		1,225		279,399		0.3%
*	Bayer AG, Registered		6,669		442,531		0.4%
	Deutsche Telekom AG		26,924		499,050		0.3%
	Volkswagen AG, Preference		1,953		306,864		0.3%
	Other Securities				6,451,724		5.6%


TOTAL GERMANY					7,979,568		6.9%


HONG KONG — (2.4%)
	AIA Group, Ltd.		52,800		523,212		0.5%
	Other Securities				2,247,076		1.9%


TOTAL HONG KONG					2,770,288		2.4%

DIMENSIONAL INTERNATIONAL CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

IRELAND — (0.7%)
	Other Securities			$	789,933		0.7%


ISRAEL — (1.2%)
	Other Securities				1,324,703		1.1%


ITALY — (2.5%)
	Other Securities				2,921,236		2.5%


JAPAN — (21.4%)
	Hitachi, Ltd.		9,200		431,170		0.4%
	ITOCHU Corp.		11,500		349,012		0.3%
	KDDI Corp.		9,600		321,210		0.3%
	Murata Manufacturing Co., Ltd.		4,700		282,740		0.2%
	Olympus Corp.		16,300		290,496		0.2%
	Seven & i Holdings Co., Ltd.		7,300		322,178		0.3%
	SoftBank Corp.		30,400		355,480		0.3%
	Sony Group Corp.		5,000		433,004		0.4%
	Takeda Pharmaceutical Co., Ltd.		10,600		308,362		0.3%
	Toyota Motor Corp.		39,300		678,104		0.6%
	Other Securities				20,779,890		18.0%


TOTAL JAPAN					24,551,646		21.3%


MALAYSIA — (0.0%)
	Other Securities				212		0.0%


NETHERLANDS — (3.2%)
	ASML Holding NV, Sponsored NYS		1,456		820,849		0.7%
	Other Securities				2,834,936		2.5%


TOTAL NETHERLANDS					3,655,785		3.2%


NEW ZEALAND — (0.3%)
	Other Securities				346,763		0.3%


NORWAY — (1.0%)
	Other Securities				1,140,248		1.0%


PORTUGAL — (0.3%)
	Other Securities				329,533		0.3%


SINGAPORE — (1.0%)
	Other Securities				1,102,396		1.0%


SPAIN — (2.4%)
	Iberdrola SA		28,977		336,569		0.3%
	Repsol SA		20,844		314,119		0.3%
	Telefonica SA		67,206		328,476		0.3%
	Other Securities				1,749,643		1.5%


TOTAL SPAIN					2,728,807		2.4%


SWEDEN — (3.2%)
	Other Securities				3,690,283		3.2%


SWITZERLAND — (8.0%)
	ABB, Ltd., Registered		11,070		337,580		0.3%
	Nestle SA, Registered		9,483		1,230,987		1.1%
	Novartis AG, Sponsored ADR		6,316		555,997		0.5%
	Roche Holding AG		2,304		860,217		0.7%

DIMENSIONAL INTERNATIONAL CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

SWITZERLAND — (continued)
	Other Securities			$	6,145,942		5.3%


TOTAL SWITZERLAND					9,130,723		7.9%


UNITED KINGDOM — (12.8%)
	Anglo American PLC		9,016		405,918		0.5%
	BP PLC, Sponsored ADR		9,780		280,882		0.3%
	British American Tobacco PLC, Sponsored ADR		7,288		304,493		0.3%
	Diageo PLC, Sponsored ADR		1,386		275,370		0.2%
	GlaxoSmithKline PLC		26,558		599,181		0.5%
	Glencore PLC		76,685		478,788		0.4%
	HSBC Holdings PLC, Sponsored ADR		13,550		420,185		0.4%
	Rio Tinto PLC		10,731		768,752		0.7%
	Shell PLC, ADR		16,748		894,846		0.8%
	Unilever PLC, Sponsored ADR		10,641		492,253		0.4%
	Vodafone Group PLC		254,114		387,759		0.3%
	Other Securities				9,378,999		7.9%


TOTAL UNITED KINGDOM					14,687,426		12.7%


UNITED STATES — (0.0%)
	Other Securities				2,111		0.0%


TOTAL COMMON STOCKS					114,561,389		99.3%


RIGHTS/WARRANTS — (0.0%)
AUSTRALIA — (0.0%)
	Other Securities				1		0.0%


NEW ZEALAND — (0.0%)
	Other Securities				5,931		0.0%


SWITZERLAND — (0.0%)
	Other Securities				517		0.0%


TOTAL RIGHTS/WARRANTS					6,449		0.0%


TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $121,897,230)					114,567,838


SECURITIES LENDING COLLATERAL — (0.0%)
@§	The DFA Short Term Investment Fund		1,740		20,126		0.0%


TOTAL INVESTMENTS — 100.0%
(Cost $121,917,356)					114,587,964		99.3%

DIMENSIONAL INTERNATIONAL CORE EQUITY 2 ETF

CONTINUED

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Australia		$8,239,913		$6,023		$—		$8,245,936
Austria		593,070		—		—		593,070
Belgium		1,376,925		—		—		1,376,925
Canada		13,837,214		—		—		13,837,214
Denmark		2,606,860		—		—		2,606,860
Finland		1,863,209		—		—		1,863,209
France		8,886,514		—		—		8,886,514
Germany		7,979,568		—		—		7,979,568
Hong Kong		2,745,718		24,570		—		2,770,288
Ireland		789,933		—		—		789,933
Israel		1,324,703		—		—		1,324,703
Italy		2,921,236		—		—		2,921,236
Japan		24,551,646		—		—		24,551,646
Malaysia		212		—		—		212
Netherlands		3,655,785		—		—		3,655,785
New Zealand		346,763		—		—		346,763
Norway		1,140,248		—		—		1,140,248
Portugal		329,533		—		—		329,533
Singapore		1,102,396		—		—		1,102,396
Spain		2,728,807		—		—		2,728,807
Sweden		3,690,283		—		—		3,690,283
Switzerland		9,130,723		—		—		9,130,723
United Kingdom		14,687,426		—		—		14,687,426
United States		2,111		—		—		2,111
Rights/Warrants
Australia		1		—		—		1
New Zealand		—		5,931		—		5,931
Switzerland		517		—		—		517
Collateral for Securities on Loan		20,126		—		—		20,126

TOTAL		$114,551,440		$36,524		$—		$114,587,964

See accompanying Notes to Financial Statements.

DIMENSIONAL INTERNATIONAL SMALL CAP VALUE ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (100.0%)
AUSTRALIA — (8.4%)
	Ansell, Ltd.		8,698	$	168,872		0.4%
	Downer EDI, Ltd.		47,266		186,758		0.4%
	Reliance Worldwide Corp., Ltd.		55,065		154,963		0.3%
	United Malt Grp, Ltd.		57,621		170,345		0.4%
	Other Securities				3,108,692		6.8%


TOTAL AUSTRALIA					3,789,630		8.3%


AUSTRIA — (1.2%)
	voestalpine AG		9,418		248,985		0.5%
	Other Securities				307,040		0.7%


TOTAL AUSTRIA					556,025		1.2%


BELGIUM — (1.6%)
	Euronav NV		14,125		167,099		0.4%
	Other Securities				551,733		1.2%


TOTAL BELGIUM					718,832		1.6%


CANADA — (11.9%)
	Alamos Gold, Inc.		31,973		248,110		0.5%
	Birchcliff Energy, Ltd.		22,507		165,538		0.4%
	Canadian Western Bank		8,903		225,771		0.5%
	Centerra Gold, Inc.		18,217		169,477		0.4%
	Crescent Point Energy Corp.		46,750		323,510		0.7%
*	MEG Energy Corp.		10,447		157,761		0.4%
*	OceanaGold Corp.		62,824		157,300		0.4%
	Other Securities				3,934,937		8.5%


TOTAL CANADA					5,382,404		11.8%


DENMARK — (2.3%)
*	Jyske Bank A/S, Registered		3,988		223,739		0.5%
	Other Securities				805,815		1.7%


TOTAL DENMARK					1,029,554		2.2%


FINLAND — (2.2%)
	TietoEVRY OYJ		6,829		172,470		0.4%
	Other Securities				806,327		1.7%


TOTAL FINLAND					978,797		2.1%


FRANCE — (4.9%)
*	Elis SA		13,581		197,000		0.4%
	Faurecia SE		8,654		192,360		0.4%
	SCOR SE		8,583		244,476		0.6%
	SES SA		27,478		247,441		0.5%
	Other Securities				1,356,588		3.0%


TOTAL FRANCE					2,237,865		4.9%


GERMANY — (6.3%)
	Aurubis AG		2,310		265,992		0.6%
*	K+S AG, Registered		8,514		289,126		0.6%
	LANXESS AG		6,082		237,978		0.5%
	ProSiebenSat.1 Media SE		14,691		170,714		0.4%

DIMENSIONAL INTERNATIONAL SMALL CAP VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
*	thyssenkrupp AG		30,110	$	234,423		0.5%
	Other Securities				1,654,000		3.6%


TOTAL GERMANY					2,852,233		6.2%


HONG KONG — (2.3%)
	Kerry Properties, Ltd.		61,000		165,597		0.3%
	Other Securities				864,744		2.0%


TOTAL HONG KONG					1,030,341		2.3%


IRELAND — (0.4%)
	Other Securities				169,593		0.4%


ISRAEL — (2.1%)
	Other Securities				964,346		2.1%


ITALY — (3.7%)
	A2A SpA		110,713		190,613		0.4%
	Banco BPM SpA		97,574		311,587		0.7%
	Other Securities				1,182,436		2.6%


TOTAL ITALY					1,684,636		3.7%


JAPAN — (22.4%)
	Other Securities				10,157,176		22.2%


NETHERLANDS — (2.2%)
	ASR Nederland NV		6,093		278,582		0.6%
	Other Securities				714,580		1.6%


TOTAL NETHERLANDS					993,162		2.2%


NEW ZEALAND — (0.4%)
	Other Securities				187,296		0.4%


NORWAY — (1.4%)
	Other Securities				615,349		1.3%


PORTUGAL — (0.3%)
	Other Securities				120,262		0.3%


SINGAPORE — (0.7%)
	Other Securities				318,690		0.7%


SPAIN — (2.4%)
	Banco de Sabadell SA		401,027		314,760		0.7%
	Bankinter SA		42,676		253,559		0.5%
	Other Securities				537,739		1.2%


TOTAL SPAIN					1,106,058		2.4%


SWEDEN — (3.3%)
*	Betsson AB, Class B		26,078		161,900		0.4%
	Other Securities				1,353,791		2.9%


TOTAL SWEDEN					1,515,691		3.3%


SWITZERLAND — (6.7%)
	Adecco Group AG		5,175		203,396		0.5%
	Allreal Holding AG, Registered		1,546		293,703		0.6%

DIMENSIONAL INTERNATIONAL SMALL CAP VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
*	ams-OSRAM AG		21,557	$	269,615		0.6%
	Cembra Money Bank AG		2,992		218,701		0.5%
	Helvetia Holding AG, Registered		3,144		408,122		0.9%
	Mobimo Holding AG, Registered		772		222,299		0.5%
	Other Securities				1,431,278		3.1%


TOTAL SWITZERLAND					3,047,114		6.7%


UNITED KINGDOM — (12.9%)
	Balfour Beatty PLC		58,773		179,160		0.4%
	Close Brothers Group PLC		13,806		192,400		0.4%
	Grainger PLC		63,453		236,286		0.5%
*	John Wood Group PLC		63,570		178,299		0.4%
*	Mediclinic International PLC		37,245		173,670		0.4%
*	National Express Group PLC		50,583		158,004		0.3%
	Pets at Home Group PLC		45,942		179,269		0.4%
	QinetiQ Group PLC		54,249		232,934		0.5%
	Redrow PLC		26,559		176,060		0.4%
	Serco Group PLC		115,518		220,594		0.5%
	Travis Perkins PLC		19,305		297,755		0.6%
	Virgin Money UK PLC		119,184		261,636		0.6%
	Vistry Group PLC		20,202		212,166		0.5%
	Other Securities				3,129,904		6.8%


TOTAL UNITED KINGDOM					5,828,137		12.7%


TOTAL COMMON STOCKS					45,283,191		99.0%


RIGHTS/WARRANTS — (0.0%)
NEW ZEALAND — (0.0%)
	Other Securities				1,240		0.0%


SWITZERLAND — (0.0%)
	Other Securities				2,337		0.0%


TOTAL RIGHTS/WARRANTS					3,577		0.0%


TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $47,434,656)					45,286,768


TOTAL INVESTMENTS — 100.0%
(Cost $47,434,656)					45,286,768		99.0%

As of April 30, 2022, Dimensional International Small Cap Value ETF had entered into the following outstanding futures contracts:

Description

Number of
Contracts

Expiration
Date

Notional
Value

Market
Value

Unrealized
Appreciation
(Depreciation)

Long Position Contracts

S&P 500 Emini Index

06/20/22

$207,565

$206,375

$(1,190)

Total Futures Contracts

$207,565

$206,375

$(1,190)

DIMENSIONAL INTERNATIONAL SMALL CAP VALUE ETF

CONTINUED

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Australia		$3,788,044		$1,586		$—		$3,789,630
Austria		556,025		—		—		556,025
Belgium		718,832		—		—		718,832
Canada		5,382,404		—		—		5,382,404
Denmark		1,029,554		—		—		1,029,554
Finland		978,797		—		—		978,797
France		2,237,865		—		—		2,237,865
Germany		2,852,233		—		—		2,852,233
Hong Kong		1,030,341		—		—		1,030,341
Ireland		169,593		—		—		169,593
Israel		964,346		—		—		964,346
Italy		1,684,636		—		—		1,684,636
Japan		10,157,176		—		—		10,157,176
Netherlands		993,162		—		—		993,162
New Zealand		187,296		—		—		187,296
Norway		615,349		—		—		615,349
Portugal		120,262		—		—		120,262
Singapore		318,690		—		—		318,690
Spain		1,106,058		—		—		1,106,058
Sweden		1,515,691		—		—		1,515,691
Switzerland		3,047,114		—		—		3,047,114
United Kingdom		5,828,137		—		—		5,828,137
Rights/Warrants
New Zealand		—		1,240		—		1,240
Switzerland		2,337		—		—		2,337
Future		(1,190)		—		—		(1,190)

TOTAL		$45,282,752		$2,826		$—		$45,285,578

See accompanying Notes to Financial Statements.

DIMENSIONAL INTERNATIONAL SMALL CAP ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (100.0%)
AUSTRALIA — (8.0%)
	Other Securities			$	2,407,563		7.9%


AUSTRIA — (1.2%)
	Other Securities				371,528		1.2%


BELGIUM — (1.6%)
	Ackermans & van Haaren NV		377		67,771		0.2%
	Other Securities				399,909		1.3%


TOTAL BELGIUM					467,680		1.5%


CANADA — (12.0%)
*	Aritzia, Inc.		1,546		55,342		0.2%
	Canadian Western Bank		2,131		54,040		0.2%
	Capital Power Corp.		2,014		66,532		0.2%
	Crescent Point Energy Corp.		9,939		68,778		0.2%
	Methanex Corp.		1,086		54,474		0.2%
	Parkland Corp.		2,684		76,632		0.3%
	Premium Brands Holdings Corp.		694		56,951		0.2%
	SNC-Lavalin Group, Inc.		3,037		67,890		0.2%
	Tricon Residential, Inc.		4,477		65,121		0.2%
	Vermilion Energy, Inc.		2,803		54,603		0.2%
	Other Securities				3,019,294		9.9%


TOTAL CANADA					3,639,657		12.0%


DENMARK — (2.2%)
	Royal Unibrew A/S		691		60,189		0.2%
	Other Securities				602,292		2.0%


TOTAL DENMARK					662,481		2.2%


FINLAND — (2.2%)
	Huhtamaki OYJ		1,427		54,391		0.2%
	Valmet OYJ		2,080		56,306		0.2%
	Other Securities				564,647		1.8%


TOTAL FINLAND					675,344		2.2%


FRANCE — (5.1%)
	SCOR SE		2,484		70,754		0.2%
	SES SA		6,000		54,030		0.2%
*	Ubisoft Entertainment SA		1,554		70,740		0.2%
	Valeo		3,609		66,647		0.2%
	Other Securities				1,292,109		4.3%


TOTAL FRANCE					1,554,280		5.1%


GERMANY — (6.3%)
	Aurubis AG		519		59,762		0.2%
	Freenet AG		2,131		59,148		0.2%
	HUGO BOSS AG		993		56,422		0.2%
*	K+S AG, Registered		3,180		107,989		0.3%
	Scout24 SE		1,327		84,835		0.3%
	Other Securities				1,524,806		5.0%


TOTAL GERMANY					1,892,962		6.2%

DIMENSIONAL INTERNATIONAL SMALL CAP ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

HONG KONG — (2.4%)
	Other Securities			$	720,706		2.4%


IRELAND — (0.4%)
	Other Securities				103,432		0.3%


ISRAEL — (2.2%)
	Other Securities				674,917		2.2%


ITALY — (3.7%)
	Banco BPM SpA		22,991		73,418		0.2%
*	Leonardo SpA		6,484		67,199		0.2%
	Other Securities				976,611		3.3%


TOTAL ITALY					1,117,228		3.7%


JAPAN — (22.0%)
	NET One Systems Co., Ltd.		2,300		55,210		0.2%
	Pigeon Corp.		3,400		58,180		0.2%
	Other Securities				6,533,304		21.5%


TOTAL JAPAN					6,646,694		21.9%


MALAYSIA — (0.0%)
	Other Securities				683		0.0%


NETHERLANDS — (2.1%)
	Aalberts NV		1,456		71,624		0.2%
	ASR Nederland NV		2,019		92,312		0.3%
	Signify NV		1,882		80,608		0.3%
	Other Securities				389,791		1.3%


TOTAL NETHERLANDS					634,335		2.1%


NEW ZEALAND — (0.4%)
	Other Securities				123,917		0.4%


NORWAY — (1.3%)
	Other Securities				387,917		1.3%


PORTUGAL — (0.3%)
	Other Securities				96,853		0.3%


SINGAPORE — (0.9%)
	Other Securities				268,297		0.9%


SPAIN — (2.4%)
	Banco de Sabadell SA		81,439		63,920		0.2%
	Bankinter SA		9,643		57,294		0.2%
	Enagas SA		3,512		76,212		0.3%
	Other Securities				523,161		1.7%


TOTAL SPAIN					720,587		2.4%


SWEDEN — (3.4%)
	Other Securities				1,026,368		3.4%


SWITZERLAND — (6.9%)
	Belimo Holding AG, Cass R		130		65,023		0.2%
	Clariant AG, Registered		3,193		55,199		0.2%

DIMENSIONAL INTERNATIONAL SMALL CAP ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
SWITZERLAND — (Continued)
	Galenica AG		787	$	58,377		0.2%
	Georg Fischer AG, Registered		1,300		71,653		0.2%
	Helvetia Holding AG, Registered		664		86,194		0.3%
	PSP Swiss Property AG, Registered		675		85,674		0.3%
	Temenos AG, Registered		997		101,996		0.3%
	Valiant Holding AG		532		53,603		0.2%
	Other Securities				1,512,267		5.0%

TOTAL SWITZERLAND					2,089,986		6.9%

UNITED KINGDOM — (13.0%)
	Beazley PLC		10,296		55,791		0.2%
	Drax Group PLC		6,734		68,312		0.2%
	HomeServe PLC		5,109		63,053		0.2%
	Inchcape PLC		6,422		57,608		0.2%
	Man Group PLC		22,945		67,697		0.2%
	Pennon Group PLC		4,485		62,615		0.2%
	Rotork PLC		14,547		53,476		0.2%
	Spectris PLC		1,872		69,333		0.2%
	Travis Perkins PLC		3,614		55,741		0.2%
	Other Securities				3,380,752		11.1%


TOTAL UNITED KINGDOM					3,934,378		12.9%


UNITED STATES — (0.0%)
	Other Securities				2,122		0.0%


TOTAL COMMON STOCKS					30,219,915		99.4%


RIGHTS/WARRANTS — (0.0%)

AUSTRALIA — (0.0%)
	Other Securities				8		0.0%


NEW ZEALAND — (0.0%)
	Other Securities				2,199		0.0%


SWITZERLAND — (0.0%)
	Other Securities				436		0.0%


TOTAL RIGHTS/WARRANTS					2,643		0.0%


TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $32,184,728)					30,222,558


SECURITIES LENDING COLLATERAL — (0.0%)
@§	The DFA Short Term Investment Fund		826		9,554		0.0%


TOTAL INVESTMENTS — 100.0%
(Cost $32,194,282)					30,232,112		99.4%

DIMENSIONAL INTERNATIONAL SMALL CAP ETF

CONTINUED

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Australia	$	2,381,415	$	26,148	$	—	$	2,407,563
Austria		371,528		—		—		371,528
Belgium		467,680		—		—		467,680
Canada		3,639,657		—		—		3,639,657
Denmark		662,481		—		—		662,481
Finland		675,344		—		—		675,344
France		1,554,280		—		—		1,554,280
Germany		1,892,962		—		—		1,892,962
Hong Kong		699,207		21,499		—		720,706
Ireland		103,432		—		—		103,432
Israel		674,917		—		—		674,917
Italy		1,117,228		—		—		1,117,228
Japan		6,646,694		—		—		6,646,694
Malaysia		683		—		—		683
Netherlands		634,335		—		—		634,335
New Zealand		123,917		—		—		123,917
Norway		387,917		—		—		387,917
Portugal		96,853		—		—		96,853
Singapore		268,297		—		—		268,297
Spain		720,587		—		—		720,587
Sweden		1,026,368		—		—		1,026,368
Switzerland		2,089,986		—		—		2,089,986
United Kingdom		3,934,378		—		—		3,934,378
United States		2,122		—		—		2,122
Rights/Warrants
Australia		8		—		—		8
New Zealand		—		2,199		—		2,199
Switzerland		436		—		—		436
Collateral for Securities on Loan		9,554		—		—		9,554

TOTAL	$	30,182,266	$	49,846	$	—	$	30,232,112

See accompanying Notes to Financial Statements.

DIMENSIONAL INTERNATIONAL HIGH PROFITABILITY ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡

COMMON STOCKS — (99.7%)
AUSTRALIA — (7.3%)
	BHP Group, Ltd., Sponsored ADR		55,029	$	3,685,842		2.7%
	Rio Tinto, Ltd.		8,982		720,202		0.5%
	Other Securities				5,559,052		4.1%

TOTAL AUSTRALIA					9,965,096		7.3%


AUSTRIA — (0.2%)
	Other Securities				232,235		0.2%


BELGIUM — (0.7%)
	Other Securities				1,021,423		0.7%


CANADA — (11.1%)
	Canadian National Railway Co.		8,963		1,054,228		0.8%
	Canadian Natural Resources, Ltd.		20,218		1,250,888		0.9%
	Magna International, Inc.		11,362		684,788		0.5%
	National Bank of Canada		11,327		795,164		0.6%
	Nutrien, Ltd.		7,348		721,941		0.5%
	Suncor Energy, Inc.		28,675		1,030,579		0.8%
	Other Securities				9,702,564		7.0%


TOTAL CANADA					15,240,152		11.1%


DENMARK — (2.4%)
	Novo Nordisk A/S, Class B		21,838		2,515,707		1.8%
	Other Securities				767,449		0.6%


TOTAL DENMARK					3,283,156		2.4%


FINLAND — (1.1%)
	Other Securities				1,476,565		1.1%


FRANCE — (9.7%)
	Airbus SE		9,478		1,055,277		0.8%
	Hermes International		563		704,708		0.5%
	Kering SA		1,826		988,407		0.7%
	L’Oreal SA		2,829		1,041,278		0.8%
	LVMH Moet Hennessy Louis Vuitton SE		5,859		3,829,109		2.8%
	Teleperformance		2,653		959,145		0.7%
	Other Securities				4,678,957		3.4%


TOTAL FRANCE					13,256,881		9.7%


GERMANY — (7.1%)
*	Bayer AG, Registered		18,910		1,254,802		0.9%
	Deutsche Post AG, Registered		18,289		789,512		0.6%
	Deutsche Telekom AG		68,334		1,266,606		0.9%
	E.ON SE		82,357		862,745		0.6%
	Volkswagen AG, Preference		4,375		687,420		0.5%
	Other Securities				4,939,554		3.6%


TOTAL GERMANY					9,800,639		7.1%


HONG KONG — (2.3%)
	AIA Group, Ltd.		84,200		834,365		0.6%
	Hong Kong Exchanges & Clearing, Ltd.		23,300		1,003,134		0.7%
	Other Securities				1,387,671		1.0%


TOTAL HONG KONG					3,225,170		2.3%

DIMENSIONAL INTERNATIONAL HIGH PROFITABILITY ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
IRELAND — (0.6%)
	Other Securities			$	815,454		0.6%

ISRAEL — (0.6%)
	Other Securities				807,542		0.6%


ITALY — (1.9%)
	Eni SpA		51,429		726,476		0.5%
	Stellantis NV		51,163		684,049		0.5%
	Other Securities				1,267,166		0.9%


TOTAL ITALY					2,677,691		1.9%


JAPAN — (20.2%)
	ENEOS Holdings, Inc.		200,800		707,047		0.5%
	Hitachi, Ltd.		23,300		1,091,985		0.8%
	KDDI Corp.		37,300		1,248,036		0.9%
	Murata Manufacturing Co., Ltd.		11,600		697,827		0.5%
	Recruit Holdings Co., Ltd.		23,400		870,185		0.6%
	SoftBank Corp.		84,000		982,248		0.7%
	Sony Group Corp.		23,400		2,026,459		1.5%
	TDK Corp.		23,000		721,635		0.5%
	Other Securities				19,451,410		14.2%


TOTAL JAPAN					27,796,832		20.2%


NETHERLANDS — (3.7%)
	ASML Holding NV, Sponsored NYS		8,217		4,632,498		3.4%
	Other Securities				380,856		0.3%


TOTAL NETHERLANDS					5,013,354		3.7%


NEW ZEALAND — (0.3%)
	Other Securities				347,950		0.3%


NORWAY — (1.0%)
	Equinor ASA		23,122		796,788		0.6%
	Other Securities				530,016		0.4%


TOTAL NORWAY					1,326,804		1.0%


PORTUGAL — (0.1%)
	Other Securities				165,242		0.1%


SINGAPORE — (1.1%)
	DBS Group Holdings, Ltd.		35,000		859,729		0.6%
	Other Securities				608,221		0.5%


TOTAL SINGAPORE					1,467,950		1.1%


SPAIN — (2.1%)
	Repsol SA		55,041		829,467		0.6%
	Telefonica SA		150,536		735,759		0.5%
	Other Securities				1,346,458		1.0%


TOTAL SPAIN					2,911,684		2.1%


SWEDEN — (2.8%)
	Other Securities				3,903,325		2.8%


SWITZERLAND — (9.3%)
	ABB, Ltd., Registered		34,109		1,040,155		0.8%
	Geberit AG, Registered		1,443		832,514		0.6%
	Givaudan SA, Registered		335		1,344,279		1.0%

DIMENSIONAL INTERNATIONAL HIGH PROFITABILITY ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
SWITZERLAND — (Continued)
	Roche Holding AG		12,319	$	4,599,398		3.3%
	Sika AG, Registered		2,572		797,581		0.6%
	Sonova Holding AG		2,215		810,558		0.6%
	Other Securities				3,301,001		2.4%


TOTAL SWITZERLAND					12,725,486		9.3%


UNITED KINGDOM — (14.0%)
	Anglo American PLC		26,559		1,195,739		0.9%
	Diageo PLC, Sponsored ADR		7,793		1,548,313		1.1%
	GlaxoSmithKline PLC		115,830		2,613,264		1.9%
	Imperial Brands PLC		48,204		1,008,259		0.7%
	RELX PLC, Sponsored ADR		33,120		975,384		0.7%
	Rio Tinto PLC		28,548		2,045,134		1.5%
	Unilever PLC, Sponsored ADR		53,207		2,461,356		1.8%
	Other Securities				7,412,666		5.4%


TOTAL UNITED KINGDOM					19,260,115		14.0%


TOTAL COMMON STOCKS
(Cost $141,269,246)					136,720,746		99.6%


TOTAL INVESTMENT SECURITIES — 99.7%
(Cost $141,269,246)					136,720,746


SECURITIES LENDING COLLATERAL — (0.3%)
@§	The DFA Short Term Investment Fund		34,401		398,004		0.3%


TOTAL INVESTMENTS — 100.0%
(Cost $141,667,250)					137,118,750		99.9%

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Australia	$	9,965,096	$	—	$	—	$	9,965,096
Austria		232,235		—		—		232,235
Belgium		1,021,423		—		—		1,021,423
Canada		15,240,152		—		—		15,240,152
Denmark		3,283,156		—		—		3,283,156
Finland		1,476,565		—		—		1,476,565
France		13,256,881		—		—		13,256,881
Germany		9,800,639		—		—		9,800,639
Hong Kong		3,225,170		—		—		3,225,170
Ireland		815,454		—		—		815,454
Israel		807,542		—		—		807,542
Italy		2,677,691		—		—		2,677,691
Japan		27,796,832		—		—		27,796,832
Netherlands		5,013,354		—		—		5,013,354
New Zealand		347,950		—		—		347,950
Norway		1,326,804		—		—		1,326,804
Portugal		165,242		—		—		165,242
Singapore		1,467,950		—		—		1,467,950
Spain		2,911,684		—		—		2,911,684
Sweden		3,903,325		—		—		3,903,325
Switzerland		12,725,486		—		—		12,725,486
United Kingdom		19,260,115		—		—		19,260,115
Collateral for Securities on Loan		398,004		—		—		398,004

TOTAL	$	137,118,750	$	—	$	—	$	137,118,750

See accompanying Notes to Financial Statements.

DIMENSIONAL EMERGING CORE EQUITY MARKET ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (99.3%)
BRAZIL — (5.3%)
	Petroleo Brasileiro SA, Preference		726,100	$	4,439,705		0.5%
	Vale SA, Sponsored ADR		306,900		5,183,541		0.6%
	Other Securities				38,603,741		4.2%


TOTAL BRAZIL					48,226,987		5.3%


CHILE — (0.4%)
	Other Securities				3,874,193		0.4%


CHINA — (27.4%)
*	Alibaba Group Holding, Ltd., Sponsored ADR		47,990		4,659,349		0.5%
*	Alibaba Group Holding, Ltd.		1,220,500		15,882,063		1.7%
*	Baidu, Inc., Class A		211,050		3,512,950		0.4%
	Bank of China, Ltd., Class H		8,175,000		3,229,928		0.4%
	China Construction Bank Corp., Class H		14,648,000		10,435,987		1.2%
	China Merchants Bank Co., Ltd., Class H		509,500		3,110,449		0.3%
	Industrial & Commercial Bank of China, Ltd., Class H		6,089,000		3,678,474		0.4%
*	JD.com, Inc., Class A		147,330		4,987,267		0.6%
	Longfor Group Holdings, Ltd.		590,000		2,932,649		0.3%
*	Meituan, Class B		372,100		8,157,020		0.9%
	NetEase, Inc.		230,300		4,520,204		0.5%
	Ping An Insurance Group Co. of China, Ltd., Class H		895,000		5,863,130		0.7%
	Tencent Holdings, Ltd.		500,200		24,059,632		2.6%
#*	Xiaomi Corp., Class B		1,907,400		2,965,821		0.3%
	Other Securities				152,227,840		16.6%


TOTAL CHINA					250,222,763		27.4%


COLOMBIA — (0.2%)
	Other Securities				1,691,663		0.2%


CZECHIA — (0.1%)
	Other Securities				1,027,065		0.1%


EGYPT — (0.0%)
	Other Securities				332,612		0.0%


GREECE — (0.3%)
	Other Securities				2,613,998		0.3%


HUNGARY — (0.1%)
	Other Securities				1,126,791		0.1%


INDIA — (15.6%)
*	Axis Bank, Ltd.		389,657		3,713,956		0.4%
	HCL Technologies, Ltd.		242,155		3,418,855		0.4%
	HDFC Bank, Ltd.		180,902		3,276,671		0.4%
	ICICI Bank, Ltd., Sponsored ADR		268,604		5,114,220		0.6%
	Infosys, Ltd.		339,956		6,971,227		0.8%
	ITC, Ltd.		891,810		3,028,018		0.3%
	Reliance Industries, Ltd., GDR		52,792		3,832,699		0.4%
	Reliance Industries, Ltd.		200,741		7,327,306		0.8%
	Tata Consultancy Services, Ltd.		112,852		5,235,990		0.6%
	Other Securities				100,610,266		10.9%


TOTAL INDIA					142,529,208		15.6%

DIMENSIONAL EMERGING CORE EQUITY MARKET ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
INDONESIA — (2.1%)
	Bank Central Asia TBK PT		5,246,300	$	2,940,345		0.3%
	Other Securities				15,891,342		1.8%


TOTAL INDONESIA					18,831,687		2.1%


KOREA, REPUBLIC OF — (13.0%)
	KB Financial Group, Inc.		81,013		3,773,297		0.4%
	POSCO Holdings, Inc.		13,848		3,186,363		0.4%
	Samsung Electronics Co., Ltd., GDR		2,641		3,495,363		0.4%
	Samsung Electronics Co., Ltd.		485,583		26,057,559		2.9%
	SK Hynix, Inc.		74,112		6,638,217		0.7%
	Other Securities				75,387,484		8.2%


TOTAL KOREA, REPUBLIC OF					118,538,283		13.0%


MALAYSIA — (1.6%)
	Other Securities				14,959,520		1.6%


MEXICO — (2.0%)
	Other Securities				18,653,504		2.0%


PERU — (0.1%)
	Other Securities				892,219		0.1%


PHILIPPINES — (0.7%)
	Other Securities				6,583,506		0.7%


POLAND — (0.7%)
	Other Securities				6,432,944		0.7%


QATAR — (0.9%)
	Qatar National Bank QPSC		518,967		3,313,238		0.4%
	Other Securities				4,906,047		0.5%


TOTAL QATAR					8,219,285		0.9%


RUSSIAN FEDERATION — (0.0%)
	Other Securities				—		0.0%


SAUDI ARABIA — (3.9%)
	Al Rajhi Bank		103,860		4,890,070		0.5%
	Alinma Bank		354,228		3,914,565		0.4%
	Bank Al-Jazira		393,862		3,323,486		0.4%
	Saudi National Bank (The)		212,193		4,469,246		0.5%
	Other Securities				18,604,085		2.0%


TOTAL SAUDI ARABIA					35,201,452		3.8%


SOUTH AFRICA — (3.8%)
	MTN Group, Ltd.		337,367		3,598,226		0.4%
*	Sasol, Ltd.		116,874		2,902,443		0.3%
	Other Securities				27,991,730		3.1%


TOTAL SOUTH AFRICA					34,492,399		3.8%


TAIWAN — (17.2%)
	Cathay Financial Holding Co., Ltd.		1,952,000		4,139,031		0.5%
	China Development Financial Holding Corp.		5,739,832		3,495,445		0.4%
	China Steel Corp.		3,033,000		3,714,655		0.4%
	E Ink Holdings, Inc.		640,000		3,778,053		0.4%
	E.Sun Financial Holding Co., Ltd.		2,867,522		3,293,095		0.4%
	Fubon Financial Holding Co., Ltd.		1,475,999		3,725,614		0.4%

DIMENSIONAL EMERGING CORE EQUITY MARKET ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
TAIWAN — (Continued)
	Hon Hai Precision Industry Co., Ltd.		1,004,000	$	3,474,343		0.4%
	Mega Financial Holding Co., Ltd.		3,011,000		4,249,550		0.5%
	Nan Ya Plastics Corp.		1,039,000		3,056,142		0.3%
	Taiwan Semiconductor Manufacturing Co., Ltd.		2,455,000		44,809,757		4.9%
*	Yang Ming Marine Transport Corp.		707,000		3,022,239		0.3%
	Other Securities				76,705,881		8.3%


TOTAL TAIWAN					157,463,805		17.2%


THAILAND — (2.3%)
	Other Securities				21,324,565		2.3%


TURKEY — (0.5%)
	Other Securities				4,488,905		0.5%


UNITED ARAB EMIRATES — (1.1%)
	Emirates Telecommunications Group Co. PJSC		339,108		3,231,315		0.4%
	Other Securities				6,413,325		0.7%


TOTAL UNITED ARAB EMIRATES					9,644,640		1.1%


TOTAL COMMON STOCKS					907,371,994		99.2%


PREFERRED STOCK — (0.0%)
PHILIPPINES — (0.0%)
	Other Securities				6,304		0.0%


TOTAL PREFERRED STOCK					6,304		0.0%


RIGHTS/WARRANTS — (0.0%)
BRAZIL — (0.0%)
	Other Securities				—		0.0%


CHILE — (0.0%)
	Other Securities				—		0.0%


CHINA — (0.0%)
	Other Securities				—		0.0%


KOREA, REPUBLIC OF — (0.0%)
	Other Securities				—		0.0%


MALAYSIA — (0.0%)
	Other Securities				10		0.0%


PHILIPPINES — (0.0%)
	Other Securities				70		0.0%


THAILAND — (0.0%)
	Other Securities				1,201		0.0%


TURKEY — (0.0%)
	Other Securities				16		0.0%


TOTAL RIGHTS/WARRANTS					1,297		0.0%


TOTAL INVESTMENT SECURITIES — 99.3%
(Cost $981,328,822)					907,379,595


SECURITIES LENDING COLLATERAL — (0.7%)
@§	The DFA Short Term Investment Fund		585,323	$	6,771,899		0.7%


TOTAL INVESTMENTS — 100.0%
(Cost $988,100,721)				$	914,151,494		99.9%

DIMENSIONAL EMERGING CORE EQUITY MARKET ETF

CONTINUED

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Brazil		$48,226,987		$—		$—		$48,226,987
Chile		3,874,193		—		—		3,874,193
China		250,019,914		162,621		40,228		250,222,763
Colombia		1,691,663		—		—		1,691,663
Czechia		1,027,065		—		—		1,027,065
Egypt		332,612		—		—		332,612
Greece		2,613,998		—		—		2,613,998
Hungary		1,126,791		—		—		1,126,791
India		142,486,542		42,666		—		142,529,208
Indonesia		18,831,525		99		63		18,831,687
Korea, Republic of		118,352,402		185,850		31		118,538,283
Malaysia		14,958,652		868		—		14,959,520
Mexico		18,653,504		—		—		18,653,504
Peru		892,219		—		—		892,219
Philippines		6,583,506		—		—		6,583,506
Poland		6,432,944		—		—		6,432,944
Qatar		8,219,285		—		—		8,219,285
Russian Federation		—		—		—		—
Saudi Arabia		35,201,452		—		—		35,201,452
South Africa		34,492,399		—		—		34,492,399
Taiwan		157,459,168		4,637		—		157,463,805
Thailand		21,324,565		—		—		21,324,565
Turkey		4,488,905		—		—		4,488,905
United Arab Emirates		9,644,640		—		—		9,644,640
Preferred Stock
Philippines		6,304		—		—		6,304
Rights/Warrants
Brazil		—		—		—		—
Chile		—		—		—		—
China		—		—		—		—
Korea, Republic Of		—		—		—		—
Malaysia		10		—		—		10
Philippines		—		70		—		70
Thailand		—		1,201		—		1,201
Turkey		16		—		—		16
Collateral for Securities on Loan		6,771,899		—		—		6,771,899

TOTAL		$913,713,160		$398,012		$40,322		$914,151,494

A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the reporting period in relation to net assets.

See accompanying Notes to Financial Statements.

DIMENSIONAL EMERGING MARKETS HIGH PROFITABILITY ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (100.0%)
BRAZIL — (5.2%)
	Petroleo Brasileiro SA		4,000	$	27,010		0.6%
	Petroleo Brasileiro SA, Preference		5,100		31,184		0.6%
	Vale SA, Sponsored ADR		7,500		126,675		2.5%
	Other Securities				78,957		1.5%


TOTAL BRAZIL					263,826		5.2%


CHILE — (0.5%)
	Other Securities				27,681		0.5%


CHINA — (27.5%)
	Anhui Conch Cement Co., Ltd., Class H		7,000		38,274		0.8%
	ANTA Sports Products, Ltd.		3,400		39,802		0.8%
	China Resources Land, Ltd.		16,000		71,984		1.4%
	Country Garden Holdings Co., Ltd.		39,000		27,189		0.5%
	CSPC Pharmaceutical Group, Ltd.		28,000		28,906		0.6%
	Haier Smart Home Co., Ltd., Class H		8,600		31,129		0.6%
	Kweichow Moutai Co., Ltd., Class A		200		55,058		1.1%
	Lenovo Group, Ltd.		32,000		31,322		0.6%
	Li Ning Co., Ltd.		8,000		63,776		1.2%
	Ping An Insurance Group Co. of China, Ltd., Class H		14,000		91,714		1.8%
	Shenzhou International Group Holdings, Ltd.		2,000		27,759		0.5%
	Sunny Optical Technology Group Co., Ltd.		2,300		34,150		0.7%
	Tencent Holdings, Ltd.		5,900		283,790		5.6%
	Yum China Holdings, Inc.		900		38,220		0.7%
	Zijin Mining Group Co., Ltd., Class H		18,000		26,841		0.5%
	Other Securities				504,678		9.9%


TOTAL CHINA					1,394,592		27.3%


COLOMBIA — (0.2%)
	Other Securities				8,825		0.2%


CZECHIA — (0.2%)
	Other Securities				8,591		0.2%


GREECE — (0.3%)
	Other Securities				16,934		0.3%


HUNGARY — (0.2%)
	Other Securities				10,091		0.2%


INDIA — (15.3%)
*	Bharti Airtel, Ltd.		4,636		44,818		0.9%
	HCL Technologies, Ltd.		1,896		26,768		0.5%
	Hindalco Industries, Ltd.		5,504		34,752		0.7%
	Infosys, Ltd.		5,732		117,542		2.3%
	JSW Steel, Ltd.		3,292		31,315		0.6%
	Tata Consultancy Services, Ltd.		1,440		66,812		1.3%
*	Tata Motors, Ltd., Sponsored ADR		1,292		36,447		0.7%
	Tech Mahindra, Ltd.		2,212		36,431		0.7%
	Other Securities				378,650		7.4%


TOTAL INDIA					773,535		15.1%


INDONESIA — (2.0%)
	Other Securities				103,061		2.0%

DIMENSIONAL EMERGING MARKETS HIGH PROFITABILITY ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
KOREA, REPUBLIC OF — (12.7%)
	HMM Co., Ltd.		1,212	$	27,405		0.5%
	LG Chem, Ltd.		68		28,099		0.6%
	LG Electronics, Inc.		476		44,151		0.9%
	Samsung Electronics Co., Ltd.		4,760		255,433		5.0%
	SK Hynix, Inc.		1,220		109,276		2.1%
	Other Securities				179,996		3.5%


TOTAL KOREA, REPUBLIC OF					644,360		12.6%


MALAYSIA — (1.7%)
	Other Securities				87,095		1.7%


MEXICO — (2.2%)
	America Movil SAB de CV, Sponsored ADR		3,540		68,782		1.4%
	Other Securities				41,692		0.8%


TOTAL MEXICO					110,474		2.2%


PHILIPPINES — (0.8%)
	Other Securities				38,316		0.8%


POLAND — (0.8%)
	Other Securities				38,955		0.8%


QATAR — (1.1%)
	Qatar National Bank QPSC		5,544		35,395		0.7%
	Other Securities				18,485		0.4%


TOTAL QATAR					53,880		1.1%


SAUDI ARABIA — (4.5%)
	Al Rajhi Bank		616		29,003		0.6%
	SABIC Agri-Nutrients Co.		672		29,132		0.6%
*	Saudi Arabian Mining Co.		740		27,226		0.5%
	Saudi Telecom Co.		1,112		34,391		0.7%
	Other Securities				106,827		2.0%


TOTAL SAUDI ARABIA					226,579		4.4%


SOUTH AFRICA — (3.4%)
	Impala Platinum Holdings, Ltd.		2,864		37,341		0.7%
	MTN Group, Ltd.		2,528		26,963		0.5%
	Sibanye Stillwater, Ltd., ADR		2,044		28,085		0.6%
	Other Securities				80,484		1.6%


TOTAL SOUTH AFRICA					172,873		3.4%


TAIWAN — (17.3%)
	ASE Technology Holding Co., Ltd.		16,000		51,894		1.0%
	AU Optronics Corp.		50,000		29,092		0.6%
	Evergreen Marine Corp. Taiwan, Ltd.		14,000		68,871		1.3%
	Novatek Microelectronics Corp.		4,000		54,079		1.1%
	Realtek Semiconductor Corp.		3,000		41,475		0.8%
	Taiwan Mobile Co., Ltd.		9,000		33,129		0.6%
	Taiwan Semiconductor Manufacturing Co., Ltd.		13,000		237,282		4.6%
	Yageo Corp.		2,000		27,447		0.5%
*	Yang Ming Marine Transport Corp.		8,000		34,198		0.7%
	Other Securities				297,124		5.9%


TOTAL TAIWAN					874,591		17.1%

DIMENSIONAL EMERGING MARKETS HIGH PROFITABILITY ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
THAILAND — (2.0%)
	Other Securities			$	102,063		2.0%


TURKEY — (0.5%)
	Other Securities				27,295		0.5%


UNITED ARAB EMIRATES — (1.6%)
	Emirates Telecommunications Group Co. PJSC		7,128		67,922		1.3%
	Other Securities				12,220		0.3%


TOTAL UNITED ARAB EMIRATES					80,142		1.6%


TOTAL COMMON STOCKS
(Cost $4,974,398)					5,063,759		99.2%


TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $4,974,398)					5,063,759


TOTAL INVESTMENTS — 100.0%
(Cost $4,974,398)					5,063,759		99.2%

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Brazil		$263,826		$—		$—		$263,826
Chile		27,681		—		—		27,681
China		1,394,592		—		—		1,394,592
Colombia		8,825		—		—		8,825
Czechia		8,591		—		—		8,591
Greece		16,934		—		—		16,934
Hungary		10,091		—		—		10,091
India		773,535		—		—		773,535
Indonesia		103,061		—		—		103,061
Korea, Republic of		644,360		—		—		644,360
Malaysia		87,095		—		—		87,095
Mexico		110,474		—		—		110,474
Philippines		38,316		—		—		38,316
Poland		38,955		—		—		38,955
Qatar		53,880		—		—		53,880
Saudi Arabia		226,579		—		—		226,579
South Africa		172,873		—		—		172,873
Taiwan		874,591		—		—		874,591
Thailand		102,063		—		—		102,063
Turkey		27,295		—		—		27,295
United Arab Emirates		80,142		—		—		80,142

Total		$5,063,759		$—		$—		$5,063,759

See accompanying Notes to Financial Statements.

DIMENSIONAL EMERGING MARKETS VALUE ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (100.0%)
BRAZIL — (5.1%)
	Banco Bradesco SA, Preference		75,000	$	272,303		0.6%
	Petroleo Brasileiro SA		90,300		609,755		1.3%
	Petroleo Brasileiro SA, Preference		115,600		706,831		1.6%
	Other Securities				667,736		1.4%


TOTAL BRAZIL					2,256,625		4.9%


CHILE — (0.3%)
	Other Securities				150,683		0.3%


CHINA — (28.0%)
	Anhui Conch Cement Co., Ltd., Class H		34,500		188,634		0.4%
*	Baidu, Inc., Class A		24,300		404,476		0.9%
	Bank of China, Ltd., Class H		1,155,000		456,338		1.0%
	China Construction Bank Corp., Class H		2,060,000		1,467,650		3.2%
	China Overseas Land & Investment, Ltd.		81,000		252,410		0.6%
	China Petroleum & Chemical Corp., Class H		540,000		267,724		0.6%
	China Resources Land, Ltd.		72,000		323,930		0.7%
	China Shenhua Energy Co., Ltd., Class H		63,000		203,144		0.5%
	Geely Automobile Holdings, Ltd.		126,000		199,772		0.4%
	Industrial & Commercial Bank of China, Ltd., Class H		832,000		502,626		1.1%
	PetroChina Co., Ltd., Class H		468,000		226,659		0.5%
	Ping An Insurance Group Co. of China, Ltd., Class H		126,500		828,699		1.8%
*	Trip.com Group, Ltd.		8,100		193,257		0.4%
	Other Securities				6,801,487		14.9%


TOTAL CHINA					12,316,806		27.0%


COLOMBIA — (0.1%)
	Other Securities				51,534		0.1%


CZECHIA — (0.1%)
	Other Securities				54,454		0.1%


GREECE — (0.2%)
	Other Securities				92,177		0.2%


HUNGARY — (0.2%)
	Other Securities				73,350		0.2%


INDIA — (16.2%)
*	Axis Bank, Ltd.		70,228		669,367		1.5%
	Hindalco Industries, Ltd.		47,124		297,536		0.7%
	JSW Steel, Ltd.		22,934		218,157		0.5%
	Larsen & Toubro, Ltd.		10,662		236,323		0.5%
	Mahindra & Mahindra, Ltd.		23,680		285,644		0.6%
	Reliance Industries, Ltd., GDR		21,672		1,573,387		3.4%
	Reliance Industries, Ltd.		12,132		442,834		1.0%
	State Bank of India		46,878		304,354		0.7%
	UPL, Ltd.		18,770		202,058		0.4%
	Other Securities				2,882,704		6.3%


TOTAL INDIA					7,112,364		15.6%

DIMENSIONAL EMERGING MARKETS VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
INDONESIA — (2.1%)
	Astra International TBK PT		374,900	$	195,894		0.5%
	Other Securities				713,372		1.5%


TOTAL INDONESIA					909,266		2.0%


KOREA, REPUBLIC OF — (13.6%)
	Hyundai Motor Co.		1,612		238,720		0.5%
	KB Financial Group, Inc.		6,360		296,226		0.6%
	Kia Corp.		5,226		348,677		0.8%
	LG Electronics, Inc.		2,210		204,988		0.5%
	POSCO Holdings, Inc.		1,472		338,701		0.7%
	Samsung Fire & Marine Insurance Co., Ltd.		1,184		197,962		0.4%
	SK Hynix, Inc.		10,094		904,120		2.0%
	Other Securities				3,474,419		7.6%


TOTAL KOREA, REPUBLIC OF					6,003,813		13.1%


MALAYSIA — (1.8%)
	CIMB Group Holdings BHD		164,300		196,247		0.4%
	Other Securities				576,194		1.3%


TOTAL MALAYSIA					772,441		1.7%


MEXICO — (2.3%)
	Other Securities				997,910		2.2%


PHILIPPINES — (0.5%)
	Other Securities				219,272		0.5%


POLAND — (0.8%)
	Other Securities				339,392		0.7%


QATAR — (1.1%)
	Other Securities				485,559		1.1%


SAUDI ARABIA — (1.0%)
	Other Securities				438,361		1.0%


SOUTH AFRICA — (3.7%)
	Impala Platinum Holdings, Ltd.		16,426		214,160		0.5%
	Other Securities				1,418,031		3.1%


TOTAL SOUTH AFRICA					1,632,191		3.6%


TAIWAN — (18.6%)
	ASE Technology Holding Co., Ltd.		72,000		233,523		0.5%
	Asustek Computer, Inc.		19,000		230,123		0.5%
	AU Optronics Corp.		319,000		185,607		0.4%
	Cathay Financial Holding Co., Ltd.		143,000		303,218		0.7%
	China Steel Corp.		252,000		308,636		0.7%
	CTBC Financial Holding Co., Ltd.		373,000		370,146		0.8%
	Formosa Chemicals & Fibre Corp.		81,000		219,569		0.5%
	Formosa Plastics Corp.		55,000		196,858		0.4%
	Fubon Financial Holding Co., Ltd.		145,000		365,999		0.8%
	Nan Ya Plastics Corp.		122,000		358,854		0.8%
	United Microelectronics Corp.		290,000		470,289		1.0%
*	Yang Ming Marine Transport Corp.		50,000		213,737		0.5%
	Yuanta Financial Holding Co., Ltd.		244,000		216,471		0.5%
	Other Securities				4,500,382		9.8%


TOTAL TAIWAN					8,173,412		17.9%

DIMENSIONAL EMERGING MARKETS VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
THAILAND — (2.3%)
	PTT PCL		202,200	$	221,387		0.5%
	Other Securities				781,642		1.7%


TOTAL THAILAND					1,003,029		2.2%


TURKEY — (0.5%)
	Other Securities				228,260		0.5%


UNITED ARAB EMIRATES — (1.5%)
	Emirates NBD Bank PJSC		55,368		229,881		0.5%
	Other Securities				423,613		0.9%


TOTAL UNITED ARAB EMIRATES					653,494		1.4%


TOTAL COMMON STOCKS					43,964,393		96.3%


RIGHTS/WARRANTS — (0.0%)

THAILAND — (–%)
	Other Securities				–		0.0%


TURKEY — (0.0%)
	Other Securities				55		0.0%


TOTAL RIGHTS/WARRANTS					55		0.0%


TOTAL INVESTMENTS — 100.0%
(Cost $43,617,165)					43,964,448		96.3%


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Brazil		$2,256,625		$—	$	—		$2,256,625
Chile		150,683		—		—		150,683
China		12,316,535		271		—		12,316,806
Colombia		51,534		—		—		51,534
Czechia		54,454		—		—		54,454
Greece		92,177		—		—		92,177
Hungary		73,350		—		—		73,350
India		7,112,364		—		—		7,112,364
Indonesia		909,266		—		—		909,266
Korea, Republic of		6,003,813		—		—		6,003,813
Malaysia		772,441		—		—		772,441
Mexico		997,910		—		—		997,910
Philippines		219,272		—		—		219,272
Poland		339,392		—		—		339,392
Qatar		485,559		—		—		485,559
Saudi Arabia		438,361		—		—		438,361
South Africa		1,632,191		—		—		1,632,191
Taiwan		8,173,412		—		—		8,173,412
Thailand		1,003,029		—		—		1,003,029
Turkey		228,260		—		—		228,260
United Arab Emirates		653,494		—		—		653,494
Rights/Warrants		—		—		—		—
Thailand		—		—		—		—
Turkey		55		—		—		55

Total Investments	$	43,964,177	$	271	$	—	$	43,964,448

See accompanying Notes to Financial Statements.

DIMENSIONAL EMERGING MARKETS CORE EQUITY 2 ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

April 30, 2022

(Unaudited)


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (100.0%)
BRAZIL — (5.3%)
	Petroleo Brasileiro SA		37,500	$	253,221		0.4%
	Petroleo Brasileiro SA, Preference		49,600		303,277		0.5%
	Vale SA, Sponsored ADR		37,500		633,375		1.0%
	Other Securities				2,036,379		3.2%


TOTAL BRAZIL					3,226,252		5.1%


CHILE — (0.2%)
	Other Securities				126,647		0.2%


CHINA — (28.6%)
*	Alibaba Group Holding, Ltd.		65,000		845,829		1.3%
*	Baidu, Inc., Class A		9,900		164,787		0.3%
	Bank of China, Ltd., Class H		657,000		259,580		0.4%
	China Construction Bank Corp., Class H		916,000		652,605		1.0%
	China Overseas Land & Investment, Ltd.		70,000		218,132		0.3%
	China Pacific Insurance Group Co., Ltd., Class H		83,800		187,548		0.3%
	China Resources Land, Ltd.		48,000		215,953		0.3%
	Industrial & Commercial Bank of China, Ltd., Class H		484,000		292,393		0.5%
	Li Ning Co., Ltd.		24,000		191,329		0.3%
	Ping An Insurance Group Co. of China, Ltd., Class H		62,500		409,437		0.6%
	Sunny Optical Technology Group Co., Ltd.		11,000		163,329		0.3%
	Tencent Holdings, Ltd.		49,900		2,400,191		3.8%
*	Xiaomi Corp., Class B		161,200		250,650		0.4%
	Yum China Holdings, Inc.		4,650		197,470		0.3%
	Other Securities				10,821,336		17.0%


TOTAL CHINA					17,270,569		27.1%


COLOMBIA — (0.1%)
	Other Securities				58,900		0.1%


CZECHIA — (0.1%)
	Other Securities				34,949		0.1%


EGYPT — (0.0%)
	Other Securities				12,787		0.0%


GREECE — (0.3%)
	Other Securities				174,846		0.3%


HUNGARY — (0.1%)
	Other Securities				51,620		0.1%


INDIA — (16.6%)
*	Axis Bank, Ltd.		22,777		217,095		0.3%
*	Bharti Airtel, Ltd.		24,105		233,033		0.4%
	HCL Technologies, Ltd.		13,451		189,907		0.3%
	HDFC Bank, Ltd.		13,208		239,236		0.4%
	ICICI Bank, Ltd., Sponsored ADR		11,724		223,225		0.3%
	Infosys, Ltd.		30,623		627,963		1.0%
	Reliance Industries, Ltd., GDR		5,809		421,733		0.7%
	Tata Consultancy Services, Ltd.		5,053		234,444		0.4%
	Other Securities				7,653,486		11.9%


TOTAL INDIA					10,040,122		15.7%

DIMENSIONAL EMERGING MARKETS CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
INDONESIA — (2.0%)
	Indo Tambangraya Megah TBK PT		81,800	$	160,248		0.3%
	Other Securities				1,044,430		1.6%

TOTAL INDONESIA					1,204,678		1.9%


KOREA, REPUBLIC OF — (14.1%)
	KB Financial Group, Inc.		4,265		198,648		0.3%
	LG Chem, Ltd.		400		165,287		0.3%
	POSCO Holdings, Inc.		707		162,678		0.3%
	Samsung Electronics Co., Ltd., GDR		1,062		1,405,557		2.2%
	Samsung Electronics Co., Ltd.		10,421		559,216		0.9%
	Samsung Fire & Marine Insurance Co., Ltd.		1,230		205,653		0.3%
	SK Hynix, Inc.		5,796		519,148		0.8%
	Other Securities				5,298,243		8.3%


TOTAL KOREA, REPUBLIC OF					8,514,430		13.4%


MALAYSIA — (1.7%)
	Other Securities				1,010,893		1.6%


MEXICO — (2.0%)
	America Movil SAB de CV, Sponsored ADR		10,179		197,778		0.3%
	Other Securities				1,042,838		1.6%


TOTAL MEXICO					1,240,616		1.9%


PERU — (0.1%)
	Other Securities				38,744		0.1%


PHILIPPINES — (0.5%)
	Other Securities				292,334		0.5%


POLAND — (0.8%)
	Other Securities				470,432		0.7%


QATAR — (1.0%)
	Qatar National Bank QPSC		28,314		180,765		0.3%
	Other Securities				438,359		0.7%


TOTAL QATAR					619,124		1.0%


SAUDI ARABIA — (0.6%)
	Other Securities				389,896		0.6%


SOUTH AFRICA — (3.7%)
	Other Securities				2,259,098		3.5%


TAIWAN — (17.8%)
	Acer, Inc.		174,000		162,929		0.3%
	Cathay Financial Holding Co., Ltd.		90,000		190,836		0.3%
	China Steel Corp.		201,000		246,174		0.4%
	CTBC Financial Holding Co., Ltd.		224,000		222,286		0.3%
	Delta Electronics, Inc.		23,000		195,077		0.3%
	Evergreen Marine Corp. Taiwan, Ltd.		47,000		231,209		0.4%
	Formosa Chemicals & Fibre Corp.		66,000		178,908		0.3%
	Fubon Financial Holding Co., Ltd.		94,000		237,268		0.4%
	Hon Hai Precision Industry Co., Ltd.		70,000		242,235		0.4%
	Innolux Corp.		404,000		187,091		0.3%
	Mega Financial Holding Co., Ltd.		133,000		187,708		0.3%
	Taiwan Semiconductor Manufacturing Co., Ltd.		127,000		2,318,061		3.6%

DIMENSIONAL EMERGING MARKETS CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
TAIWAN (Continued)
	United Microelectronics Corp.		165,000	$	267,578		0.4%
	Vanguard International Semiconductor Corp.		45,000		161,066		0.2%
	Other Securities				5,701,232		8.9%

TOTAL TAIWAN					10,729,658		16.8%

THAILAND — (2.7%)
	Other Securities				1,608,294		2.5%


TURKEY — (0.5%)
	Other Securities				328,253		0.5%


UNITED ARAB EMIRATES — (1.2%)
	Emirates Telecommunications Group Co. PJSC		22,532		214,704		0.3%
	Other Securities				515,935		0.8%


TOTAL UNITED ARAB EMIRATES					730,639		1.1%


TOTAL COMMON STOCKS					60,433,781		94.8%


RIGHTS/WARRANTS — (0.0%)

THAILAND — (0.0%)
	Other Securities				—		0.0%


TURKEY — (0.0%)
	Other Securities				31		0.0%


TOTAL RIGHTS/WARRANTS					31		0.0%


TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $59,602,772)					60,433,812


TOTAL INVESTMENTS — 100.0%
(Cost $59,602,772)					60,433,812		94.8%

As of April 30, 2022, Dimensional Emerging Markets Core Equity 2 ETF had entered into the following outstanding futures contracts:

Description

Number of
Contracts

Expiration
Date

Notional
Value

Market
Value

Unrealized
Appreciation
(Depreciation)

Long Position Contracts

S&P 500 Emini Index

06/20/22

$639,907

$619,125

$(20,782)

Total Futures Contracts

$639,907

$619,125

$(20,782)

DIMENSIONAL EMERGING MARKETS CORE EQUITY 2 ETF

CONTINUED

Summary of the Fund’s investments as of April 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1			Level 2		Level 3		Total
Common Stocks
Brazil		$3,226,252			$—		$—		$3,226,252
Chile		126,647			—		—		126,647
China		17,270,207			362		—		17,270,569
Colombia		58,900			—		—		58,900
Czechia		34,949			—		—		34,949
Egypt		12,787			—		—		12,787
Greece		174,846			—		—		174,846
Hungary		51,620			—		—		51,620
India		10,040,122			—		—		10,040,122
Indonesia		1,204,678			—		—		1,204,678
Korea, Republic of		8,508,194			6,236		—		8,514,430
Malaysia		1,010,893			—		—		1,010,893
Mexico		1,240,616			—		—		1,240,616
Peru		38,744			—		—		38,744
Philippines		292,334			—		—		292,334
Poland		470,432			—		—		470,432
Qatar		619,124			—		—		619,124
Saudi Arabia		389,896			—		—		389,896
South Africa		2,259,098			—		—		2,259,098
Taiwan		10,729,658			—		—		10,729,658
Thailand		1,608,294			—		—		1,608,294
Turkey		328,253			—		—		328,253
United Arab Emirates		730,639			—		—		730,639
Rights/Warrants
Thailand		—			—		—		—
Turkey		31			—		—		31
Future		(20,782	)		—		—		(20,782	)

Total		$60,406,432			$6,598		$—		$60,413,030

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF ASSETS AND LIABILITIES

APRIL 30, 2022

(Unaudited)

(Amounts in thousands, except share and per share amounts)


	Dimensional US Core Equity Market ETF			Dimensional US High Profitability ETF			Dimensional US Real Estate ETF
ASSETS:
Investment Securities at Value (including $12,823, $— and $— of securities on loan, respectively)	$	1,918,297		$	227,711		$	59,773
Collateral from Securities on Loan Invested in Affiliate at Value (Cost of $13,800, $— and $—, respectively) (a)		13,800			—			—
Cash		4,104			348			70
Receivables:
Investment Securities Sold		157			—			—
Dividends and Interest		1,306			230			30
Receivable for Capital Shares Issued		15			—			—
Prepaid Expenses and Other Assets		110			—			—

Total Assets		1,937,789			228,289			59,873

LIABILITIES:
Payables:
Investment Securities Purchased		2,308			—			—
Fund Shares Redeemed		—			6			—
Upon Return of Securities Loaned		13,800			—			—
Accrued Expenses and Other Liabilities:
Advisory Fee		194			33			1
Administration and Accounting		—			4			3
Custodian		—			1			1
Service Fee (b)		9			—			—
Other Expenses		—			5			6

Total Liabilities		16,311			49			11

NET ASSETS	$	1,921,478		$	228,240		$	59,862

SHARES OUTSTANDING, $0.01 PAR VALUE		66,604,000			9,250,000			2,300,000

Net Asset Value, Offering and Redemption price per share	$	28.85		$	24.67		$	26.03

Investment Securities at Cost	$	1,968,656		$	236,721		$	60,284

NET ASSETS CONSIST OF:
Paid-In Capital	$	1,972,543		$	236,918		$	60,153
Total Distributable Earnings (Loss)		(51,065	)		(8,678	)		(291	)

NET ASSETS	$	1,921,478		$	228,240		$	59,862

(a)	See Note F in the Notes to Financial Statements for additional information about securities lending collateral

(b)	See Note D in the Notes to Financial Statements for additional information about fees and expenses

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF ASSETS AND LIABILITIES

APRIL 30, 2022

(Unaudited)

(Amounts in thousands, except share and per share amounts)


	Dimensional US Small Cap Value ETF			Dimensional International Core Equity Market ETF			Dimensional International Core Equity 2 ETF
ASSETS:
Investment Securities at Value (including $—, $44,171 and $21 of securities on loan, respectively)	$	48,432		$	1,443,634		$	114,568
Collateral from Securities on Loan Invested in Affiliate at Value (Cost of $—, $43,734 and $20, respectively) (a)		—			43,734			20
Foreign Currencies at Value		—			2,268			139
Cash		156			4,485			311
Receivables:
Investment Securities Sold		—			95			14
Dividends and Interest		23			5,424			337
Receivable for Capital Shares Issued		—			500			—
Receivable for Tax Reclaims		—			997			36
Prepaid Expenses and Other Assets		—			71			—

Total Assets		48,611			1,501,208			115,425

LIABILITIES:
Payables:
Investment Securities Purchased		106			1,744			—
Upon Return of Securities Loaned		—			43,734			20
Accrued Expenses and Other Liabilities:
Advisory Fee		2			216			13
Administration and Accounting		3			—			2
Service Fee (b)		—			7			—
Other Expenses		6			—			5

Total Liabilities		117			45,701			40

NET ASSETS	$	48,494		$	1,455,507		$	115,385

SHARES OUTSTANDING, $0.01 PAR VALUE		2,000,000			54,700,000			4,900,000

Net Asset Value, Offering and Redemption price per share	$	24.25		$	26.61		$	23.55

Investment Securities at Cost	$	50,703		$	1,558,416		$	121,897

Foreign Currencies at Cost	$	—		$	2,345		$	141

NET ASSETS CONSIST OF:
Paid-In Capital	$	50,723		$	1,562,968		$	122,116
Total Distributable Earnings (Loss)		(2,229	)		(107,461	)		(6,731	)

NET ASSETS	$	48,494		$	1,455,507		$	115,385

(a)	See Note F in the Notes to Financial Statements for additional information about securities lending collateral

(b)	See Note D in the Notes to Financial Statements for additional information about fees and expenses

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF ASSETS AND LIABILITIES

APRIL 30, 2022

(Unaudited)

(Amounts in thousands, except share and per share amounts)


	Dimensional International Small Cap Value ETF			Dimensional International Small Cap ETF			Dimensional International High Profitability ETF
ASSETS:
Investment Securities at Value (including $1, $10 and $382 of securities on loan, respectively)	$	45,287		$	30,223		$	136,721
Collateral from Securities on Loan Invested in Affiliate at Value (Cost of $1, $10 and $398, respectively) (a)		1			10			398
Foreign Currencies at Value		73			75			94
Cash		227			30			480
Receivables:
Investment Securities Sold		—			1			—
Dividends and Interest		144			97			103
Receivable for Capital Shares Issued		39			—			162
Receivable for Tax Reclaims		11			8			13

Total Assets		45,782			30,444			137,971

LIABILITIES:
Payables:
Investment Securities Purchased		27			—			272
Upon Return of Securities Loaned		1			10			398
Variation Margin on Futures Contracts		1			—			—
Accrued Expenses and Other Liabilities:
Advisory Fee		6			4			3
Administration and Accounting		2			2			2
Other Expenses		4			4			3

Total Liabilities		41			20			678

NET ASSETS	$	45,741		$	30,424		$	137,293

SHARES OUTSTANDING, $0.01 PAR VALUE		1,950,000			1,300,000			5,850,000

Net Asset Value, Offering and Redemption price per share	$	23.46		$	23.40		$	23.47

Investment Securities at Cost	$	47,435		$	32,185		$	141,269

Foreign Currencies at Cost	$	75		$	76		$	95

NET ASSETS CONSIST OF:
Paid-In Capital	$	47,671		$	32,241		$	141,630
Total Distributable Earnings (Loss)		(1,930	)		(1,817	)		(4,337	)

NET ASSETS	$	45,741		$	30,424		$	137,293

(a)	See Note F in the Notes to Financial Statements for additional information about securities lending collateral

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF ASSETS AND LIABILITIES

APRIL 30, 2022

(Unaudited)

(Amounts in thousands, except share and per share amounts)


	Dimensional Emerging Core Equity Market ETF			Dimensional Emerging Markets High Profitability ETF		Dimensional Emerging Markets Value ETF
ASSETS:
Investment Securities at Value (including $19,343, $— and $— of securities on loan, respectively)	$	907,380		$	5,064	$	43,964
Collateral from Securities on Loan Invested in Affiliate at Value (Cost of $6,772, $— and $—, respectively) (a)		6,772			—		—
Foreign Currencies at Value		13,132			169		10,644
Cash		17,992			35		17,721
Receivables:
Investment Securities Sold		3,045			—		84
Dividends and Interest		1,419			1		11
Receivable for Capital Shares Issued		4,139			—		—
Receivable for Tax Reclaims		1			—		—
Receivable from Advisor		—			1		—
Prepaid Expenses and Other Assets		41			—		—

Total Assets		953,921			5,270		72,424

LIABILITIES:
Payables:
Investment Securities Purchased		31,278			161		26,786
Upon Return of Securities Loaned		6,772			—		—
Accrued Foreign Taxes		729			—		—
Accrued Expenses and Other Liabilities:
Advisory Fee		240			—		1
Service Fee (b)		8			—		—
Other Expenses		—			2		—

Total Liabilities		39,027			163		26,787

NET ASSETS	$	914,894		$	5,107	$	45,637

SHARES OUTSTANDING, $0.01 PAR VALUE		36,600,000			200,000		1,800,000

Net Asset Value, Offering and Redemption price per share	$	25.00		$	25.54	$	25.35

Investment Securities at Cost	$	981,329		$	4,974	$	43,617

Foreign Currencies at Cost	$	13,185		$	168	$	10,640

NET ASSETS CONSIST OF:
Paid-In Capital	$	992,050		$	5,017	$	45,295
Total Distributable Earnings (Loss)		(77,156	)		90		342

NET ASSETS	$	914,894		$	5,107	$	45,637

(a)	See Note F in the Notes to Financial Statements for additional information about securities lending collateral

(b)	See Note D in the Notes to Financial Statements for additional information about fees and expenses

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF ASSETS AND LIABILITIES

APRIL 30, 2022

(Unaudited)

(Amounts in thousands, except share and per share amounts)


	Dimensional Emerging Markets Core Equity 2 ETF
ASSETS:
Investment Securities at Value (including $— of securities on loan, respectively)	$	60,434
Foreign Currencies at Value		14,791
Cash		20,090
Receivables:
Investment Securities Sold		3,749
Dividends and Interest		9
Receivable for Capital Shares Issued		6,447

Total Assets		105,520

LIABILITIES:
Payables:
Investment Securities Purchased		41,778
Variation Margin on Futures Contracts		8
Accrued Expenses and Other Liabilities:
Advisory Fee		1

Total Liabilities		41,787

NET ASSETS	$	63,733

SHARES OUTSTANDING, $0.01 PAR VALUE		2,500,000

Net Asset Value, Offering and Redemption price per share	$	25.49

Investment Securities at Cost	$	59,603

Foreign Currencies at Cost	$	14,786

NET ASSETS CONSIST OF:
Paid-In Capital	$	62,930
Total Distributable Earnings (Loss)		803

NET ASSETS	$	63,733

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF OPERATIONS

FOR THE PERIOD ENDED APRIL 30, 2022

(Unaudited)

(Amounts in thousands)


	Dimensional US Core Equity Market ETF (a)			Dimensional US High Profitability ETF (b)			Dimensional US Real Estate ETF (b)
INVESTMENT INCOME:
Interest	$	1		$	—		$	—
Dividends (Net of Foreign Taxes Withheld of ($3), $— and $—, respectively)		12,033			495			248
Income from Securities Lending		15			—			—

Total Investment Income		12,049			495			248

EXPENSES:
Investment Management Fees (c)		1,017			58			12
Administration and Accounting		—			4			3
Custodian		—			1			1
Professional Fees		—			3			3
Exchange Listing Fee		—			1			1
Other Expenses		39			1			1

Total Expenses		1,056			68			21
Fees Waived, Expenses Reimbursed by Advisor		—			—			(7	)

Net Expenses		1,056			68			14

Net Investment Income (Loss)		10,993			427			234

Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) from:
Investment Securities Sold and Foreign Currency Transactions		(5,020	)		(12	)		—
In-Kind Transactions		2,608			—			—
Futures Contracts		120			—			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(198,783	)		(9,010	)		(512	)

Net Realized and Unrealized Gain (Loss)		(201,075	)		(9,022	)		(512	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(190,082	)	$	(8,595	)	$	(278	)

(a)	Portion of income is from investment in affiliated fund

(b)	Period from the commencement of operations on February 23, 2022 through April 30, 2022

(c)	See Note D in the Notes to Financial Statements for additional information about fees and expenses

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF OPERATIONS

FOR THE PERIOD ENDED APRIL 30, 2022

(Unaudited)

(Amounts in thousands)


	Dimensional US Small Cap Value ETF (a)			Dimensional International Core Equity Market ETF (b)			Dimensional International Core Equity 2 ETF (b)(c)
INVESTMENT INCOME:
Interest	$	—		$	1		$	—
Dividends (Net of Foreign Taxes Withheld of $—, ($2,469) and ($83), respectively)		59			18,595			638
Income from Securities Lending		—			39			—

Total Investment Income		59			18,635			638

EXPENSES:
Investment Management Fees (d)		13			1,039			18
Administration and Accounting		3			—			2
Professional Fees		3			—			2
Exchange Listing Fee		1			—			2
Other Expenses		1			28			2

Total Expenses		21			1,067			26
Fees Waived, Expenses Reimbursed by Advisor		(7	)		—			(4	)

Net Expenses		14			1,067			22

Net Investment Income (Loss)		45			17,568			616

Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) from:
Investment Securities Sold and Foreign Currency Transactions		—			(2,218	)		(3	)
Futures Contracts		—			66			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(2,271	)		(146,510	)		(7,344	)

Net Realized and Unrealized Gain (Loss)		(2,271	)		(148,662	)		(7,347	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(2,226	)	$	(131,094	)	$	(6,731	)

(a)	Period from the commencement of operations on February 23, 2022 through April 30, 2022

(b)	Portion of income is from investment in affiliated fund

(c)	Period from the commencement of operations on March 23, 2022 through April 30, 2022

(d)	See Note D in the Notes to Financial Statements for additional information about fees and expenses

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF OPERATIONS

FOR THE PERIOD ENDED APRIL 30, 2022

(Unaudited)

(Amounts in thousands)


	Dimensional International Small Cap Value ETF (a)			Dimensional International Small Cap ETF (a)(b)			Dimensional International High Profitability ETF (a)(b)
INVESTMENT INCOME:
Dividends (Net of Foreign Taxes Withheld of ($33), ($22) and ($31), respectively)	$	241		$	162		$	227

Total Investment Income		241			162			227

EXPENSES:
Investment Management Fees (c)		12			10			10
Administration and Accounting		2			2			2
Printing Fees		—			—			—
Professional Fees		2			2			2
Exchange Listing Fee		—			—			—
Other Expenses		1			1			1

Total Expenses		17			15			15
Fees Waived, Expenses Reimbursed by Advisor		(4	)		(4	)		(3	)

Net Expenses		13			11			12

Net Investment Income (Loss)		228			151			215

Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) from:
Investment Securities Sold and Foreign Currency Transactions		(1	)		(1	)		(1	)
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(2,156	)		(1,967	)		(4,551	)
Futures		(1	)		—			—

Net Realized and Unrealized Gain (Loss)		(2,158	)		(1,968	)		(4,552	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(1,930	)	$	(1,817	)	$	(4,337	)

(a)	Period from the commencement of operations on March 23, 2022 through April 30, 2022

(b)	Portion of income is from investment in affiliated fund

(c)	See Note D in the Notes to Financial Statements for additional information about fees and expenses

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF OPERATIONS

FOR THE PERIOD ENDED APRIL 30, 2022

(Unaudited)

(Amounts in thousands)


	Dimensional Emerging Core Equity Market ETF (a)			Dimensional Emerging Markets High Profitability ETF (b)			Dimensional Emerging Markets Value ETF (b)
INVESTMENT INCOME:
Dividends (Net of Foreign Taxes Withheld of ($789), $— and ($2), respectively)	$	6,947		$	1		$	11
Income from Securities Lending		275			—			—

Total Investment Income		7,222			1			11

EXPENSES:
Investment Management Fees (c)		1,101			—			1
Professional Fees		—			1			1
Exchange Listing Fee		—			—			—
Other Expenses		19			—			—

Total Expenses		1,120			1			2
Fees Waived, Expenses Reimbursed by Advisor		—			(1	)		—

Net Expenses		1,120			—			2

Net Investment Income (Loss)		6,102			1			9

Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) from:
Investment Securities Sold and Foreign Currency Transactions		(4,638	)		(2	)		—
Futures Contracts		4			—			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(66,648	)		91			333
Forward Currency Contracts		5			—			—

Net Realized and Unrealized Gain (Loss)		(71,277	)		89			333

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(65,175	)	$	90		$	342

(a)	Portion of income is from investment in affiliated fund

(b)	Period from the commencement of operations on April 26, 2022 through April 30, 2022

(c)	See Note D in the Notes to Financial Statements for additional information about fees and expenses

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF OPERATIONS

FOR THE PERIOD ENDED APRIL 30, 2022

(Unaudited)

(Amounts in thousands)


	Dimensional Emerging Markets Core Equity 2 ETF (a)
INVESTMENT INCOME:
Dividends (Net of Foreign Taxes Withheld of ($1), respectively)	$	11

Total Investment Income		11

EXPENSES:
Investment Management Fees (b)		1
Professional Fees		—
Exchange Listing Fee		—

Total Expenses		1

Fees Waived, Expenses Reimbursed by Advisor		—
Net Expenses		10

Net Investment Income (Loss)		10

Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) from:
Investment Securities Sold and Foreign Currency Transactions		(4	)
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		818
Futures		(21	)

Net Realized and Unrealized Gain (Loss)		793

Net Increase (Decrease) in Net Assets Resulting from Operations	$	803

(a)	Period from the commencement of operations on April 26, 2022 through April 30, 2022

(b)	See Note D in the Notes to Financial Statements for additional information about fees and expenses

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional US Core Equity Market ETF						Dimensional US High Profitability ETF
	Six months ended April 30, 2022			Period Nov. 17, 2020 through October 31, 2021			Period Feb. 23, 2022 through April 30, 2022

	(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	10,993		$	8,914		$	427
Net Realized Gain (Loss) on:
Investment Securities Sold and Foreign Currency Transactions		(5,020	)		6,688			(12	)
In-Kind Transactions		2,608			—			—
Futures		120			—			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(198,783	)		148,424			(9,010	)

Change in Net Assets Resulting from Operations		(190,082	)		164,026			(8,595	)

Distributions:
Total Distributions		(10,293	)		(6,738	)		(83	)

Change in Net Assets Resulting from Distributions		(10,293	)		(6,738	)		(83	)

Capital Share Transactions:
Shares Issued		805,731			1,209,437			236,918
Cost of Shares Redeemed		(12,218	)		(38,385	)		—

Change in Net Assets Resulting from Capital Share Transactions		793,513			1,171,052			236,918

Change in Net Assets		593,138			1,328,340			228,240

Net Assets:
Beginning of Period		1,328,340			—			—

End of Period	$	1,921,478		$	1,328,340		$	228,240

Share Transactions:
Issued		25,600			42,654			9,250
Redeemed		(400	)		(1,250	)		—

Change in Shares		25,200			41,404			9,250

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional US Real Estate ETF			Dimensional US Small Cap Value ETF
	Period Feb. 23, 2022 through April 30, 2022			Period Feb. 23, 2022 through April 30, 2022

	(Unaudited)			(Unaudited)
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	234		$	45
Net Realized Gain (Loss) on:
Investment Securities Sold and Foreign Currency Transactions		—			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(512	)		(2,271	)

Change in Net Assets Resulting from Operations		(278	)		(2,226	)

Distributions:
Total Distributions		(13	)		(3	)

Change in Net Assets Resulting from Distributions		(13	)		(3	)

Capital Share Transactions:
Shares Issued		60,153			50,723

Change in Net Assets Resulting from Capital Share Transactions		60,153			50,723

Change in Net Assets		59,862			48,494
Net Assets:
Beginning of Period		—			—

End of Period	$	59,862		$	48,494

Share Transactions:
Issued		2,300			2,000

Change in Shares		2,300			2,000

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional International Core Equity Market ETF						Dimensional International Core Equity 2 ETF
	Six months ended April 30, 2022			Period Nov. 17, 2020 through October 31, 2021			Period Mar. 23, 2022 through April 30, 2022

	(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	17,568		$	9,449		$	616
Net Realized Gain (Loss) on:
Investment Securities Sold and Foreign Currency Transactions		(2,218	)		(753	)		(3	)
Futures		66			—			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(146,510	)		31,411			(7,344	)

Change in Net Assets Resulting from Operations		(131,094	)		40,107			(6,731	)

Distributions:
Total Distributions		(9,726	)		(6,749	)		—

Change in Net Assets Resulting from Distributions		(9,726	)		(6,749	)		—

Capital Share Transactions:
Shares Issued		828,887			734,082			122,116

Change in Net Assets Resulting from Capital Share Transactions		828,887			734,082			122,116

Change in Net Assets		688,067			767,440			115,385
Net Assets:
Beginning of Period		767,440			—			—

End of Period	$	1,455,507		$	767,440		$	115,385

Share Transactions:
Issued		28,900			25,800			4,900

Change in Shares		28,900			25,800			4,900

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional International Small Cap Value ETF			Dimensional International Small Cap ETF
	Period Mar. 23, 2022 through April 30, 2022			Period Mar. 23, 2022 through April 30, 2022

	(Unaudited)			(Unaudited)
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	228		$	151
Net Realized Gain (Loss) on:
Investment Securities Sold and Foreign Currency Transactions		(1	)		(1	)
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(2,156	)		(1,967	)
Futures		(1	)		—

Change in Net Assets Resulting from Operations		(1,930	)		(1,817	)

Capital Share Transactions:
Shares Issued		47,671			32,241

Change in Net Assets Resulting from Capital Share Transactions		47,671			32,241

Change in Net Assets		45,741			30,424
Net Assets:
Beginning of Period		—			—

End of Period	$	45,741		$	30,424

Share Transactions:
Issued		1,950			1,300

Change in Shares		1,950			1,300

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional International High Profitability ETF			Dimensional Emerging Core Equity Market ETF
	Period Mar. 23, 2022 through April 30, 2022			Six months ended April 30, 2022			Period Dec. 1, 2020 through October 31, 2021

	(Unaudited)			(Unaudited)
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	215		$	6,102		$	4,804
Net Realized Gain (Loss) on:
Investment Securities Sold and Foreign Currency Transactions		(1	)		(4,638	)		(583	)
Futures		—			4			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(4,551	)		(66,643	)		(8,136	)

Change in Net Assets Resulting from Operations		(4,337	)		(65,175	)		(3,915	)

Distributions:
Total Distributions		—			(4,540	)		(3,526	)

Change in Net Assets Resulting from Distributions		—			(4,540	)		(3,526	)

Capital Share Transactions:
Shares Issued		141,630			588,880			403,170

Change in Net Assets Resulting from Capital Share Transactions		141,630			588,880			403,170

Change in Net Assets		137,293			519,165			395,729
Net Assets:
Beginning of Period		—			395,729			—

End of Period	$	137,293		$	914,894		$	395,729

Share Transactions:
Issued		5,850			22,200			14,400

Change in Shares		5,850			22,200			14,400

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional Emerging Markets High Profitability ETF			Dimensional Emerging Markets Value ETF
	Period Apr. 26, 2022 through April 30, 2022			Period Apr. 26, 2022 through April 30, 2022

	(Unaudited)			(Unaudited)
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	1		$	9
Net Realized Gain (Loss) on:
Investment Securities Sold and Foreign Currency Transactions		(2	)		—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		91			333

Change in Net Assets Resulting from Operations		90			342

Capital Share Transactions:
Shares Issued		5,017			45,295

Change in Net Assets Resulting from Capital Share Transactions		5,017			45,295

Change in Net Assets		5,107			45,637
Net Assets:
Beginning of Period		—			—

End of Period	$	5,107		$	45,637

Share Transactions:
Issued		200			1,800

Change in Shares		200			1,800

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional Emerging Markets Core Equity 2 ETF
	Period Apr. 26, 2022 through April 30, 2022

	(Unaudited)
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	10
Net Realized Gain (Loss) on:
Investment Securities Sold and Foreign Currency Transactions		(4	)
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		818
Futures		(21	)

Change in Net Assets Resulting from Operations		803

Capital Share Transactions:
Shares Issued		62,930

Change in Net Assets Resulting from Capital Share Transactions		62,930

Change in Net Assets		63,733
Net Assets:
Beginning of Period		—

End of Period	$	63,733

Share Transactions:
Issued		2,500

Change in Shares		2,500

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

FINANCIAL HIGHLIGHTS

(for a share outstanding throughout each period)


	Dimensional US Core Equity Market ETF						Dimensional US High Profitability ETF
	Six Months ended April 30, 2022			Period November 17, 2020 through October 31, 2021			Period February 23, 2022 through April 30, 2022

	(Unaudited)						(Unaudited)

Net Asset Value, Beginning of Period	$	32.08		$	24.92		$	24.54

Income From Investment Operations (a)
Net Investment Income (Loss)		0.20			0.36			0.06
Net Gains (Losses) on Securities (Realized and Unrealized)		(3.24	)		7.04			0.08	(g)

Total from Investment Operations		(3.04	)		7.40			0.14
Less Distributions:
Net Investment Income		(0.19	)		(0.24	)		(0.01	)

Total Distributions		(0.19	)		(0.24	)		(0.01	)
Net Asset Value, End of Period	$	28.85		$	32.08		$	24.67
Total Return at NAV (b)(c)		(9.53	)%		29.81	%		0.61	%
Total Return at Market (c)(d)		(9.64	)%		29.88	%		0.62	%
Net Assets, End of Year (thousands)	$	1,921,478		$	1,328,340		$	228,240
Ratio of Expenses to Average Net Assets (e)		0.12	%		0.12	%		0.22	%
Ratio of Expense to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), (Previously Waived Fees Recovered by Advisor) and/or (Fees Paid Indirectly (e)		0.12	%		0.12	%		0.22	%
Ratio of Net Investment Income to Average Net Assets (e)		1.29	%		1.27	%		1.36	%
Portfolio Turnover Rate (c)(f)		2	%		3	%		—

See page 3 for the Definitions of Abbreviations and Footnotes

(g)	A majority of the investments were purchased after fund launch at valuations higher than current valuations resulting in an unrealized loss on the statement of operations.

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

FINANCIAL HIGHLIGHTS

(for a share outstanding throughout each period)


	Dimensional US Real Estate ETF			Dimensional US Small Cap Value ETF
	Period February 23, 2022 through April 30, 2022			Period February 23, 2022 through April 30, 2022

	(Unaudited)			(Unaudited)

Net Asset Value, Beginning of Period	$	24.65		$	24.66

Income From Investment Operations (a)
Net Investment Income (Loss)		0.16			0.04
Net Gains (Losses) on Securities (Realized and Unrealized)		1.23			(0.45	)

Total from Investment Operations		1.39			(0.41	)
Less Distributions:
Net Investment Income		(0.01	)		—

Total Distributions		(0.01	)		—
Net Asset Value, End of Period	$	26.03		$	24.25
Total Return at NAV (b)(c)		5.60	%		(1.67	)%
Total Return at Market (c)(d)		5.47	%		(1.73	)%
Net Assets, End of Year (thousands)	$	59,862		$	48,494
Ratio of Expenses to Average Net Assets (e)		0.19	%		0.31	%
Ratio of Expense to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), (Previously Waived Fees Recovered by Advisor) and/or (Fees Paid Indirectly (e)		0.29	%		0.47	%
Ratio of Net Investment Income to Average Net Assets (e)		3.21	%		0.94	%
Portfolio Turnover Rate (c)(f)		—			—

See page 3 for the Definitions of Abbreviations and Footnotes

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

FINANCIAL HIGHLIGHTS

(for a share outstanding throughout each period)


	Dimensional International Core Equity Market ETF						Dimensional International Core Equity 2 ETF
	Six Months ended April 30, 2022			Period November 17, 2020 through October 31, 2021			Period March 23, 2022 through April 30, 2022

	(Unaudited)						(Unaudited)

Net Asset Value, Beginning of Period	$	29.75		$	25.07		$	24.95

Income From Investment Operations (a)
Net Investment Income (Loss)		0.43			0.77			0.17
Net Gains (Losses) on Securities (Realized and Unrealized)		(3.32	)		4.36			(1.57	)

Total from Investment Operations		(2.89	)		5.13			(1.40	)
Less Distributions:
Net Investment Income		(0.25	)		(0.45	)		—

Total Distributions		(0.25	)		(0.45	)		—
Net Asset Value, End of Period	$	26.61		$	29.75		$	23.55
Total Return at NAV (b)(c)		(9.76	)%		20.54	%		(5.61	)%
Total Return at Market (c)(d)		(11.04	)%		21.08	%		(6.45	)%
Net Assets, End of Year (thousands)	$	1,455,507		$	767,440		$	115,385
Ratio of Expenses to Average Net Assets (e)		0.18	%		0.18	%		0.23	%
Ratio of Expense to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), (Previously Waived Fees Recovered by Advisor) and/or (Fees Paid Indirectly (e)		0.18	%		0.18	%		0.28	%
Ratio of Net Investment Income to Average Net Assets (e)		3.04	%		2.78	%		6.55	%
Portfolio Turnover Rate (c)(f)		2	%		4	%		—

See page 3 for the Definitions of Abbreviations and Footnotes

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

FINANCIAL HIGHLIGHTS

(for a share outstanding throughout each period)


	Dimensional International Small Cap Value ETF			Dimensional International Small Cap ETF
	Period March 23, 2022 through April 30, 2022			Period March 23, 2022 through April 30, 2022

	(Unaudited)			(Unaudited)

Net Asset Value, Beginning of Period	$	24.94		$	25.00

Income From Investment Operations (a)
Net Investment Income (Loss)		0.19			0.14
Net Gains (Losses) on Securities (Realized and Unrealized)		(1.67	)		(1.74	)

Total from Investment Operations		(1.48	)		(1.60	)
Net Asset Value, End of Period	$	23.46		$	23.40
Total Return at NAV (b)(c)		(5.95	)%		(6.39	)%
Total Return at Market (c)(d)		(6.78	)%		(7.36	)%
Net Assets, End of Year (thousands)	$	45,741		$	30,424
Ratio of Expenses to Average Net Assets (e)		0.42	%		0.39	%
Ratio of Expense to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), (Previously Waived Fees Recovered by Advisor) and/or (Fees Paid Indirectly (e)		0.56	%		0.54	%
Ratio of Net Investment Income to Average Net Assets (e)		7.44	%		5.46	%
Portfolio Turnover Rate (c)(f)		—			—

See page 3 for the Definitions of Abbreviations and Footnotes

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

FINANCIAL HIGHLIGHTS

(for a share outstanding throughout each period)


	Dimensional International High Profitability ETF			Dimensional Emerging Core Equity Market ETF
	Period March 23, 2022 through April 30, 2022			Six Months ended April 30, 2022			Period December 1, 2020 through October 31, 2021

	(Unaudited)			(Unaudited)

Net Asset Value, Beginning of Period	$	24.97		$	27.48		$	25.41

Income From Investment Operations (a)
Net Investment Income (Loss)		0.13			0.25			0.62
Net Gains (Losses) on Securities (Realized and Unrealized)		(1.63	)		(2.52	)		1.75

Total from Investment Operations		(1.50	)		(2.27	)		2.37
Less Distributions:
Net Investment Income		—			(0.21	)		(0.30	)

Total Distributions		—			(0.21	)		(0.30	)
Net Asset Value, End of Period	$	23.47		$	25.00		$	27.48
Total Return at NAV (b)(c)		(6.01	)%		(8.34	)%		9.33	%
Total Return at Market (c)(d)		(6.89	)%		(9.40	)%		9.57	%
Net Assets, End of Year (thousands)	$	137,293		$	914,894		$	395,729
Ratio of Expenses to Average Net Assets (e)		0.29	%		0.35	%		0.35	%
Ratio of Expense to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), (Previously Waived Fees Recovered by Advisor) and/or (Fees Paid Indirectly (e)		0.38	%		0.35	%		0.35	%
Ratio of Net Investment Income to Average Net Assets (e)		5.06	%		1.93	%		2.40	%
Portfolio Turnover Rate (c)(f)		—			3	%		4	%

See page 3 for the Definitions of Abbreviations and Footnotes

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

FINANCIAL HIGHLIGHTS

(for a share outstanding throughout each period)


	Dimensional Emerging Markets High Profitability ETF			Dimensional Emerging Markets Value ETF
	Period April 26, 2022 through April 30, 2022			Period April 26, 2022 through April 30, 2022

	(Unaudited)			(Unaudited)

Net Asset Value, Beginning of Period	$	25.03		$	25.04

Income From Investment Operations (a)
Net Investment Income (Loss)		0.01			0.01
Net Gains (Losses) on Securities (Realized and Unrealized)		0.50			0.30

Total from Investment Operations		0.51			0.31
Net Asset Value, End of Period	$	25.54		$	25.35
Total Return at NAV (b)(c)		2.02	%		1.25	%
Total Return at Market (c)(d)		1.32	%		0.76	%
Net Assets, End of Year (thousands)	$	5,107		$	45,637
Ratio of Expenses to Average Net Assets (e)		0.41	%		0.43	%
Ratio of Expense to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), (Previously Waived Fees Recovered by Advisor) and/or (Fees Paid Indirectly (e)		1.69	%		0.63	%
Ratio of Net Investment Income to Average Net Assets (e)		1.85	%		3.07	%
Portfolio Turnover Rate (c)(f)		—			—

See page 3 for the Definitions of Abbreviations and Footnotes

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

FINANCIAL HIGHLIGHTS

(for a share outstanding throughout each period)


	Dimensional Emerging Markets Core Equity 2 ETF
	Period April 26, 2022 through April 30, 2022

	(Unaudited)

Net Asset Value, Beginning of Period	$	25.04

Income From Investment Operations (a)
Net Investment Income (Loss)		0.01
Net Gains (Losses) on Securities (Realized and Unrealized)		0.44

Total from Investment Operations		0.45
Net Asset Value, End of Period	$	25.49	(**)
Total Return at NAV (b)(c)		1.81	%
Total Return at Market (c)(d)		1.32	%
Net Assets, End of Year (thousands)	$	63,733
Ratio of Expenses to Average Net Assets (e)		0.39	%
Ratio of Expense to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), (Previously Waived Fees Recovered by Advisor) and/or (Fees Paid Indirectly (e)		0.54	%
Ratio of Net Investment Income to Average Net Assets (e)		2.63	%
Portfolio Turnover Rate (c)(f)		—

See page 3 for the Definitions of Abbreviations and Footnotes

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

NOTES TO FINANCIAL STATEMENTS

(Unaudited)

A. ORGANIZATION

The Dimensional ETF Trust (the “Trust”) was organized on June 16, 2020 as a Delaware statutory trust. The Trust is an open-end management investment company, registered under the Investment Company Act of 1940 (the “1940 Act”). As of April 30, 2022, the Trust is comprised of twenty-three operational exchange-traded funds (“ETFs”) and is authorized to issue an unlimited number of shares of beneficial interest (“Shares”) for each fund representing interests in separate portfolios of securities. The accompanying financial statements are those of Dimensional US Core Equity Market ETF (“US Core Equity ETF”), Dimensional US High Profitability ETF (“US High Profitability ETF”), Dimensional US Real Estate ETF (“US Real Estate ETF”), Dimensional US Small Cap Value ETF (“US Small Cap Value ETF”), Dimensional International Core Equity Market ETF (“International Core ETF”), Dimensional International Core Equity 2 ETF (“International Core Equity 2 ETF”), Dimensional International Small Cap Value ETF (“International Small Cap Value ETF”), Dimensional International Small Cap ETF (“International Small Cap ETF”), Dimensional International High Profitability ETF (“International High Profitability ETF”), Dimensional Emerging Core Equity Market ETF (“Emerging Markets Core ETF”), Dimensional Emerging Markets High Profitability ETF (“Emerging Markets High Profitability ETF”), Dimensional Emerging Markets Value ETF (“Emerging Markets Value ETF”) and Dimensional Emerging Markets Core Equity 2 ETF (“Emerging Markets Core 2 ETF”) (individually referred to as a “Fund” or collectively as the “Funds”). The assets of each Fund are segregated and a shareholder’s interest is limited to the Fund in which Shares are held. The Funds are investment companies and, accordingly, follow the accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Certification (“ASC”) Topic 946, “Financial Services – Investment Companies”.

The Board is responsible for establishing the Trust’s policies and for overseeing the management of the Trust. Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In the normal course of business, the Trust enters into contracts that contain a variety of representations and warranties that provide general indemnification. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust and/or its affiliates that have not yet occurred. However, based on prior experience, the Trust expects the risk of loss to be remote.

B. SIGNIFICANT ACCOUNTING POLICIES

Shares of the US Core Equity ETF, US High Probability ETF, US Real Estate ETF, US Small Cap ETF Value ETF, International Core ETF, Emerging Markets Core ETF, Emerging Markets High Profitability ETF, Emerging Markets Value ETF, and Emerging Markets Core 2 ETF are listed and traded on the NYSE Arca, Inc. Shares of the International Core Equity 2 ETF, International Small Cap Value ETF, International Small Cap ETF, and International High Profitability ETF are listed and traded on the Cboe BZX Exchange Inc. Market prices for the Shares may be different from their net asset value (“NAV”). The Funds issue and redeem Shares on a continuous basis at NAV only in large blocks of Shares called (“Creation Units”). Currently a Creation Unit is 50,000 Shares for US Core Equity ETF, US High Profitability ETF, US Real Estate ETF and US Small Cap Value ETF, International Small Cap Value ETF, International High Profitability ETF, and Emerging Markets High Profitability ETF, and 100,000 Shares for International Core ETF, International Core Equity 2 ETF, International Small Cap ETF, Emerging Markets Core ETF, Emerging Markets Value ETF, and Emerging Markets Core 2 ETF. Creation Units are issued and redeemed principally in-kind. Once created, Shares generally trade in the secondary market at market prices that change throughout the day in amounts less than a Creation Unit. Shares of each Fund may only be purchased or redeemed by certain financial institutions (“Authorized Participants”). An Authorized Participant is either (i) a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System of the National Securities

Clearing Corporation or (ii) a DTC participant and, in each case, must have executed a Participant Agreement

with the funds’ distributor (the “Distributor”). Most retail investors do not qualify as Authorized Participants nor have the resources to buy and sell whole Creation Units. Therefore, they are unable to purchase or redeem the Shares directly from a Fund.

The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of its financial statements. These policies are in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates.

1. SECURITY VALUATION

The Funds hold investments at fair value. Fair value is defined as the price that would be expected to be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The valuation techniques used to determine fair value are further described below.

Security values are ordinarily obtained through the use of independent pricing services in accordance with procedures adopted by the Board. Pursuant to these procedures, the Funds may use a pricing service, bank, or broker-dealer experienced in such matters to value the Funds’ securities. When reliable market quotations are not readily available for any security, the fair value of that security will be determined by a committee established by the Advisor, with input from certain third-party pricing services and others, in accordance with procedures adopted by the Board. The fair valuation process is designed to value the subject security at the price the Funds would reasonably expect to receive upon its current sale. Additional consideration is given to securities that have experienced a decrease in the volume or level of activity or to circumstances that indicate that a transaction is not orderly.

The Trust has a three-tier fair value hierarchy that is dependent upon the various “inputs” used to determine the value of the Funds’ investments. The valuation techniques described below maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. These inputs are summarized in the three broad levels listed below:

•

Level 1 – Inputs are quoted prices in active markets for identical assets.

•

Level 2 – Other observable pricing inputs at the measurement date (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

•

Level 3 – Significant unobservable pricing inputs at the measurement date (including the Funds’ own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

Rights and warrants are valued at the last sales price on a national securities exchange. If these instruments are not scheduled to trade for a certain period they are generally valued intrinsically based on the terms of the issuance and the price of the underlying security. These instruments are typically categorized as Level 1 in the fair value hierarchy unless intrinsic value is used then would be categorized as Level 2 in the fair value hierarchy.

Equity securities traded on a securities exchange are valued at the last reported sales price on the principal exchange. Equity securities quoted by NASDAQ are valued at the NASDAQ official closing price. If there is no reported sale on the principal exchange or official closing price of the day, and in the case of over-the-counter securities, the Funds value the securities at the mean between the most recent quoted bid and asked prices. In each of these situations, securities are typically categorized as Level 1 and Level 2, respectively in the fair value hierarchy.

With respect to the International Core ETF, International Core Equity 2 ETF, International Small Cap Value ETF, International Small Cap ETF, International High Profitability ETF, Emerging Markets Core ETF, Emerging Markets High Profitability ETF, Emerging Markets Value ETF, and Emerging Markets Core 2 ETF (the “International Funds”), the prices of securities traded in foreign currencies will be expressed in U.S. dollars by using

the mid-rate prices for the U.S. dollar as quoted by generally recognized reliable sources at 4 p.m. London time. Because the International Funds own securities that are primarily listed on foreign exchanges which may trade on days when the International Funds do not price their shares, the NAVs of the International Funds may change on days when shareholders will not be able to purchase or redeem shares.

Derivative Instruments: Forward currency contracts are valued using the sum of the spot rate, the available forward point quotation nearest and prior to settlement date, and the linear interpolation of the available forward point quotations nearest to, before and after the settlement date. Futures contracts are valued using the settlement price established each day on the exchange on which they are traded. The value of such futures contracts held by the Fund is determined each day as of such exchange close. Swap agreements will be valued at the price provided by an independent third-party pricing service or source. If a price is not available from an independent third-party pricing service or source, the swap agreement will be valued in good faith at fair value in accordance with procedures adopted by the Board.

Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Advisor) occur before the NAV is calculated. When fair value pricing is used, the prices of securities used by the Funds may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are typically categorized as Level 2 or Level 3 in the fair value hierarchy.

2. SECURITY TRANSACTIONS AND RELATED INCOME

Investment transactions are accounted for no later than the first calculation of the NAV on the business day following the trade date. For financial reporting purposes, however, security transactions are accounted for on the trade date on the last business day of the reporting period. Securities gains and losses are calculated on the identified cost basis. Interest income and expenses are accrued daily. Dividends, less foreign tax withholding, if any, are recorded on the ex-dividend date. Investment income from non-U.S. sources received by a Fund is generally subject to non-U.S. withholding taxes at rates ranging up to 30%. Such withholding taxes may be reduced or eliminated under the terms of applicable U.S. income tax treaties. International Core ETF and International Core Equity 2 ETF are subject to tax on short-term and long-term capital gains for investments in the Cayman Islands. International Small Cap ETF is subject to tax on short-term and long-term capital gains for investments in the Cayman Islands and the United Kingdom. Emerging Markets Core ETF is subject to tax on short-term and long-term capital gains for investments in India, the Cayman Islands, and Thailand. Such taxes are accrued on a daily basis and due upon sale of individual securities.

3. FOREIGN CURRENCY TRANSLATIONS

The accounting records of the International Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities of a Fund denominated in a foreign currency are translated into U.S. dollars at current exchange rates. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars at the exchange rates on the date of the transactions. The International Funds do not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are disclosed as net change in unrealized appreciation/depreciation on investments and foreign currency translations on the Statements of Operations. Any realized gains or losses from these fluctuations are disclosed as net realized gains or losses from investment transactions and foreign currency translations on the Statements of Operations.

4. RESTRICTED SECURITIES

A restricted security is a security that cannot be offered for public sale without prior registration under the Securities Act of 1933 (the “1933 Act”) (absent an exemption). Whether a restricted security is illiquid is determined

pursuant to the applicable provisions of the Funds’ liquidity risk management program. Not all restricted securities are considered illiquid.

5. DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS

Distributions are recorded on the ex-dividend date. The Funds intend to distribute to its shareholders net investment income, if any, at least quarterly and net realized capital gains, if any, at least annually. The amount of dividends from net investment income and net realized gains is determined in accordance with federal income tax regulations, which may differ from GAAP.

C. DERIVATIVE INSTRUMENTS

All open derivative positions at period end are reflected on each Fund’s Summary Schedule of Portfolio Holdings. The following is a description of the derivative instruments utilized by the Funds, including the primary underlying risk exposure related to each instrument type.

1. FORWARD CURRENCY CONTRACTS

The International Funds may enter into foreign currency exchange transactions, including foreign currency forward contracts, in connection with the settlement of foreign securities or to transfer cash balances from one currency to another currency. The decision to hedge a Fund’s currency exposure with respect to a foreign market will be based primarily on the Fund’s existing exposure to a given foreign currency. Each contract is valued daily and the change in value is recorded by a Fund as an unrealized gain or loss, which is presented in the Fund’s Statement of Operations as the change in unrealized appreciation or depreciation of forward currency contracts. When the contract is closed or offset with the same counterparty, a Fund records a realized gain or loss equal to the change in the value of the contract when it was opened and the value at the time it was closed or offset. This is presented in the Statements of Operations as a net realized gain or loss on forward currency contracts. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currency relative to the U.S. dollar. As of April 30, 2022, there were no forward currency contracts outstanding. During the period ended April 30, 2022, the Funds had limited activity in forward currency contracts.

2. FUTURES CONTRACTS

Each Fund may purchase or sell futures and options on futures contracts for equity securities and indices to increase or decrease market exposure based on actual or expected cash inflows to or outflows from the Fund. Upon entering into futures contracts, the Funds are required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount (initial margin deposit). Subsequent payments, known as “variation margin”, are made or received each day, depending on the daily fluctuations in the fair value of the underlying security. The Funds recognize an unrealized gain or loss equal to the daily variation margin. Should market conditions move unexpectedly, the Funds may not achieve the anticipated benefits of the futures contracts and may realize a loss. Futures contracts involve, to varying degrees, elements of market risk (generally equity price risk related to stock futures, interest rate risk related to bond futures, and foreign currency risk related to currency futures) and exposure to loss in excess of the amounts reflected on the Statements of Assets and Liabilities as variation margin. The primary risks associated with the use of futures contracts are the imperfect correlation between the change in market value of the securities held by the Funds and the prices of futures contracts, the possibility of an illiquid market, and the possibility that the Fund could lose more than the initial margin requirements. The Funds entering into stock index futures are subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange’s clearinghouse, as counterparty to all exchange- traded futures, guarantees the futures against default. The gross notional amount of futures contracts outstanding as of April 30, 2022, and the monthly average notional amount for these contracts for the period ended April 30, 2022 were as follows (amounts in thousands):


	Outstanding Notional Amount				Monthly Average Notional Amount
Futures Contracts:	Long		Short		Long		Short
International Small Cap Value ETF	$	206		$—	$	206	$	—
Emerging Markets Core 2 ETF		619		—		619		—

Summary of Derivative Instruments:

The following is a summary of the fair value of derivative instruments on the Statements of Assets and Liabilities, categorized by primary risk exposure, as of April 30, 2022 (amounts in thousands):


	Assets		Liabilities
Fund	Unrealized Appreciation on Futures Contracts⁽¹⁾⁽²⁾		Unrealized Depreciation on Futures Contracts⁽¹⁾⁽²⁾
Equity Risk Exposure:
International Small Cap Value ETF	$	—	$	1
Emerging Markets Core 2 ETF		—		21

(1) For futures contracts, the amounts represent their cumulative appreciation/(depreciation), which includes movements of variation margin. Only current day’s margin variation is reported within the Statements of Assets and Liabilities.

(2) Presented on the Statements of Assets and Liabilities as Receivables or Payables: Variation Margin on Futures Contracts.

The following summary of the realized and change in unrealized gains and losses from the Funds’ derivative instrument holdings categorized by primary risk exposure for the period ended April 30, 2022 (amounts in thousands):


	Realized Gain (Loss) from:
Fund	Futures Contracts
Equity Risk Exposure:
US Core Equity ETF	$	120
International Core ETF		66
Emerging Markets Core ETF		4


	Change in Unrealized Appreciation (Depreciation) on Derivatives
Fund	Futures Contracts
Equity Risk Exposure:
International Small Cap Value ETF	$	(1	)
Emerging Markets Core 2 ETF		(21	)

Currency Rate Risk Exposure:

The Funds had limited activity in forward foreign currency contracts during the period ended April 30, 2022, and no such contracts were outstanding as of April 30, 2022. Net realized and changes in unrealized gain or loss on such contracts were minimal during the period ended April 30, 2022 and are included in Net Realized Gain (Loss) from Investment Securities Sold and Foreign Currency Transactions and Change in Unrealized Appreciation (Depreciation) on Investment Securities and Foreign Currency Translations, respectively, on the accompanying Statements of Operations.

D. INVESTMENT ADVISORY AND OTHER CONTRACTUAL SERVICES

1. INVESTMENT ADVISORY FEES

Dimensional Fund Advisors LP (the “Advisor”), serves as the investment advisor to the Funds pursuant to an investment management agreement. Subject at all times to the oversight and approval of the Board, the Advisor is responsible for the overall management of the Funds. Dimensional Fund Advisors Ltd. and DFA Australia Limited serve as Sub-Advisors for the International Funds.

For the period ended April 30, 2022 the Funds’ investment management fee was accrued daily and paid monthly to the Advisor based on the following effective annual rate of average daily net assets:


Fund	Management Fee
US Core Equity ETF		0.12	%
US High Profitability ETF		0.19	%
US Real Estate ETF		0.17	%
US Small Cap Value ETF		0.28	%
International Core ETF		0.18	%
International Core Equity 2 ETF		0.20	%
International Small Cap Value ETF		0.39	%
International Small Cap ETF		0.35	%
International High Profitability ETF		0.25	%
Emerging Markets Core ETF		0.35	%
Emerging Markets High Profitability ETF		0.35	%
Emerging Markets Value ETF		0.38	%
Emerging Markets Core 2 ETF		0.33	%

Pursuant to a Fee Waiver and Expense Assumption Agreement (the “Fee Waiver Agreement”), the Advisor has contractually agreed to waive certain fees, and in certain instances, assume certain expenses of the US High Profitability ETF, US Real Estate ETF, US Small Cap Value ETF, International Core Equity 2 ETF, International Small Cap Value ETF, International Small Cap ETF, International High Profitability ETF, Emerging Markets High Profitability ETF, Emerging Markets Value ETF, and Emerging Markets Core 2 ETF, as described in the notes below. The Fee Waiver Agreement will remain in effect through February 28, 2023, may only be terminated by the Trust’s Board of Trustees prior to that date and shall continue in effect from year to year thereafter unless terminated by the Trust or the Advisor. During the period ended April 30, 2022, the Funds had expense limits based on a percentage of average net assets on an annualized basis, as listed below. The net amount of waived fees/expenses assumed during the period ended April 30, 2022, are also reflected below (amounts in thousands). At any time that the ETF Fund Expenses (defined below) of a Fund are less than the applicable Expense Limitation Amount listed below, the Advisor retains the right to recover fees previously waived and/or expenses previously assumed to the extent that the expense ratio following such recovery would be less than the Expense Limitation Amount that was in place when such prior year fees were waived and/or expenses assumed, and less than the current Expense Limitation Amount in place for the Fund. The Trust, on behalf of a Fund, is also not obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six months before the date of recovery.


	Expense Limitation Amount			Waived Fees/ Expense Assumed		Recovery of Previously Waived Fees/ Expenses Assumed		Previously Waived Fees/Expense Assumed Subject to Future Recovery
US High Profitability ETF		0.22	%	$	—	$	—	$	—
US Real Estate ETF		0.19	%		7		—		7
US Small Cap Value ETF		0.31	%		7		—		7
International Core Equity 2 ETF		0.23	%		4		—		4
International Small Cap Value ETF		0.42	%		4		—		4
International Small Cap ETF		0.39	%		4		—		4
International High Profitability ETF		0.29	%		3		—		3
Emerging Markets High Profitability ETF		0.41	%		1		—		1
Emerging Markets Value ETF		0.43	%		—		—		—
Emerging Markets Core 2 ETF		0.39	%		—		—		—

The Advisor has contractually agreed to waive its management fee and assume the ordinary operating expenses of the Fund (excluding the expenses that the Fund incurs indirectly through its investment in other investment companies)

(“ETF Fund Expenses”) to the extent necessary to limit the ETF Fund Expenses of the Fund, on an annualized basis, to the rate listed above as percentage of average net assets (the “Expense Limitation Amount”).

US Core Equity ETF, International Core ETF, and Emerging Markets Core ETF (each, a “Unitary Fee Fund” and together, the “Unitary Fee Funds”) pay the Advisor a unitary management fee for managing the Funds’ assets. Pursuant to the investment management agreement with the Trust, on behalf of each Unitary Fee Fund, the Advisor is responsible for substantially all ordinary fund operating expenses, except for (i) the fee paid under the investment management agreement; (ii) payments under the Fund’s 12b-1 plan (if any); (iii) brokerage expenses (including any costs incidental to transactions in fund securities, instruments and other investments); (iv) taxes; (v) interest expenses (including borrowing costs and dividend expenses on securities sold short and overdraft charges); (vi) litigation expenses (including litigation to which the Trust or Fund may be a party and indemnification of the Trustees and officers with respect thereto); (vii) Trustees’ fees and expenses; (viii) legal expenses of counsel to the Independent Trustees; (ix) Chief Compliance Officer (“CCO”) compensation; (x) acquired fund fees and expenses (if any); and (xi) other non-routine or extraordinary expenses.

For the Unitary Fee Funds, pursuant to a separate contractual arrangement, the Advisor arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees. The Advisor receives a fee of up to 0.0044% of each Fund’s average daily net assets for providing such services and paying such expenses. The Advisor provides CCO services to the Trust.

2. ADMINISTRATION, ACCOUNTING, TRANSFER AGENT, AND CUSTODIAN FEES

Citi Fund Services Ohio, Inc. serves as the Funds’ Administrator and Fund Accountant pursuant to a Services Agreement with the Trust. Citibank, N.A. serves as the Funds’ Custodian and Transfer Agent pursuant to a Global Custodial and Agency Services Agreement with the Trust.

3. DISTRIBUTION AND SHAREHOLDER SERVICES FEES

DFA Securities, LLC, a wholly-owned subsidiary of the Advisor, is the principal underwriter and distributor for the Funds’ Shares. The Distributor does not maintain any secondary market in the Funds’ shares. The Trust has adopted a Rule 12b-1 Distribution and Service Plan (the “Distribution and Service Plan”) pursuant to which payments of up to 0.25% of average daily net assets may be made to compensate or reimburse financial intermediaries for activities principally intended to result in the sale of Fund shares. In accordance with the Distribution and Service Plan, the Distributor may enter into agreements with financial intermediaries and dealers relating to distribution and/or marketing services with respect to the Funds.

No payments from the Funds are currently planned under the Distribution and Service Plan. The Advisor and its affiliates may, out of their own resources, pay amounts to third parties for distribution or marketing services on behalf of the Funds.

4. FEES PAID TO OFFICERS AND TRUSTEES

Certain Officers and Trustees of the Advisor are also Officers and Trustees of the Trust; however, such Officers and Trustees (with the exception of the CCO, with respect to the Funds, except the Unitary Fee Funds) receive no compensation from the Trust. For the period ended April 30, 2022, the total related amounts paid by the Trust to the CCO was $6 (in thousands). The total related amounts paid by each of the Funds are included in Other Expenses on the Statements of Operations.

E. FEDERAL INCOME TAXES

Each Fund intends to qualify and Dimensional US Core Equity Market ETF, Dimensional International Core Equity Market ETF, and Dimensional Emerging Core Equity Market ETF have qualified and intend to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to its shareholders. Accordingly, no provision has been made for federal income taxes.

Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent that these differences are permanent, they are charged or credited to paid-in capital or distributable earnings, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the permanent differences as of October 31, 2021 can occur as a result of realized gains on securities considered to be “passive foreign investment companies,” non-deductible expenses, net foreign currency gains/losses, the use of accumulated earnings and profits distributed to shareholders on redemptions of shares as part of the dividends paid deduction for income tax purposes, and were reclassified to the accounts mentioned above. These reclassifications had no effect on net assets or net asset value per share.

The tax character of dividends and distributions declared and paid during the year ended October 31, 2021, were as follows (amounts in thousands):


	Net Investment Income and Short- Term Gain		Long Term Capital Gains		Tax Exempt Income		Total
US Core Equity ETF
2021	$	6,738	$	—	$	—	$	6,738
International Core ETF
2021		6,749		—		—		6,749
Emerging Markets Core ETF
2021		3,526		—		—		3,526

As of October 31, 2021, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands):


	Undistributed Net Investment Income and Short-Term Capital Gains		Undistributed Long-Term Capital Gains		Capital Loss Carryforwards			Unrealized Appreciation/ (Depreciation)			Total Net Distributable Earnings (Accumulated Losses)
US Core Equity ETF	$	1,980	$	—	$	(1,271	)	$	148,602		$	149,311
International Core ETF		3,096		—		(797	)		31,060			33,359
Emerging Markets Core ETF		1,448		—		(627	)		(8,260	)		(7,439	)

For federal income tax purposes, the Funds measure their capital loss carryforwards annually at October 31, their fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. As of October 31, 2021, the Funds had the following capital loss carryforwards available to offset future realized capital gains with no expiration date (amounts in thousands):


	Unlimited		Total
US Core Equity ETF	$	1,271	$	1,271
International Core ETF		797		797
Emerging Markets Core ETF		627		627

During the year ended October 31, 2021, the Funds did not utilize any capital loss carryforwards to offset realized capital gains for federal income tax purposes.

As of April 30, 2022, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes, as follows (amounts in thousands):


	Tax Cost of Securities		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation/ (Depreciation)
US Core Equity ETF	$	1,968,834	$	120,106	$	(170,287	)	$	(50,181	)
US High Profitability ETF		236,721		3,887		(12,897	)		(9,010	)
US Real Estate ETF		60,284		984		(1,496	)		(512	)
US Small Cap Value ETF		50,703		639		(2,910	)		(2,271	)
International Core ETF		1,558,084		54,031		(169,430	)		(115,399	)
International Core Equity 2 ETF		121,897		758		(8,087	)		(7,329	)
International Small Cap Value ETF		47,435		391		(2,539	)		(2,148	)
International Small Cap ETF		32,185		357		(2,319	)		(1,962	)
International High Profitability ETF		141,269		551		(5,100	)		(4,549	)
Emerging Markets Core ETF		982,104		42,305		(116,276	)		(73,971	)
Emerging Markets High Profitability ETF		4,974		132		(43	)		89
Emerging Markets Value ETF		43,617		569		(222	)		347
Emerging Markets Core 2 ETF		59,603		1,117		(286	)		831

The difference between GAAP-basis and tax-basis unrealized gains (losses) can occur as a result of wash sales, net mark-to-market gains (losses) on regulated futures contracts, net mark-to-market gain/loss on foreign currency contracts, and differences in the tax treatment of passive foreign investment company investments.

ASC 740 Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed the Dimensional US Core Equity Market ETF, Dimensional International Core Equity Market ETF, and Dimensional Emerging Core Equity Market ETF tax positions and for the remaining funds for all open tax years and all major taxing jurisdictions, management of the Funds has concluded that no additional provision for income tax is required in the Funds’ financial statements. The Funds are not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Dimensional US Core Equity Market ETF, Dimensional International Core Equity Market ETF, and Dimensional Emerging Core Equity Market ETF federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

F. SECURITIES LENDING

As of April 30, 2022, the Funds had securities on loan to brokers/dealers, for which the Funds received cash collateral. Additionally, the Funds received non-cash collateral consisting of short- and/or long-term U.S. Treasuries and U.S. government agency securities as follows (amounts in thousands):


	Non-Cash Collateral Market Value
International Core ETF	$	3,317
International Core Equity 2 ETF		—
International Small Cap Value ETF		1
International Small Cap ETF		1
Emerging Markets Core ETF		13,630

Each Fund with securities on loan invests the cash collateral, as described below, and records a liability for the return of the collateral during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral in an amount (i) equal to at least 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) generally equal to 102% of the current market

value of the loaned securities with respect to U.S. securities, and (iii) generally equal to 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Funds’ collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities, and such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Fund or, at the option of the lending agent, to replace the securities. In the event of the bankruptcy of the borrower, the Fund could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value.

Subject to its stated investment policies, a Fund with securities on loan will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the “Money Market Series”), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. Income received from the Money Market Series is netted with fees for securities lending and collateral investment expenses and with other payments to and from borrowers of securities. The Funds also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated or unaffiliated money market funds that are registered or unregistered. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. Additionally, a Fund will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or, other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible for taxation at qualified dividend income rates.

The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged, and the remaining contractual maturity of those transactions as of April 30, 2022 (amounts in thousands):


	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		< 30 days		Between 30 & 90 days		> 90 days		Total
US Core Equity ETF
Common Stocks	$	13,800	$	—	$	—	$	—	$	13,800
International Core ETF
Common Stocks		43,734		—		—		—		43,734
International Core Equity 2 ETF
Common Stocks		20		—		—		—		20
International Small Cap Value ETF
Common Stocks		1		—		—		—		1
International Small Cap ETF
Common Stocks		10		—		—		—		10
International High Profitability ETF
Common Stocks		398		—		—		—		398
Emerging Markets Core ETF
Common Stocks		6,772		—		—		—		6,772

G. AFFILIATED TRADES

Cross trades for the period ended April 30, 2022, if any, were executed by the Funds pursuant to procedures adopted by the Board of Trustees of the Trust to ensure compliance with Rule 17a-7 under the 1940 Act. Cross trading is the buying or selling of fund securities between series of investment companies, or between a series of an investment company and another entity, that are or could be considered affiliates by virtue of a common investment advisor (or affiliated investment advisors), common Trustees and/or common Officers. At its regularly scheduled meetings, the CCO certifies to the Board that the 17a-7 transactions entered into by the Funds complied with the Rule 17a-7 Procedures adopted by the Board of Trustees of the Trust.

For the period ended April 30, 2022, cross trades by the Funds under Rule 17a-7 were as follows (amounts in thousands):


	Purchases		Sales		Realized Gain (Loss)
US Core Equity ETF	$	1,043	$	1,553	$	(479	)
International Core ETF		1,527		350		(41	)

H. INVESTMENT TRANSACTIONS

Purchases and sales of investments, excluding in-kind transactions and short-term investments, for the period ended April 30, 2022 were as follows (amounts in thousands):


	Purchases		Sales
US Core Equity ETF	$	40,752	$	28,710
US High Profitability ETF		159		203
US Real Estate ETF		178		—
US Small Cap Value ETF		249		—
International Core ETF		71,498		17,770
International Core Equity 2 ETF		3,237		29
International Small Cap Value ETF		1,072		34
International Small Cap ETF		797		10
International High Profitability ETF		3,231		—
Emerging Markets Core ETF		496,665		16,669
Emerging Markets High Profitability ETF		4,974		—
Emerging Markets Value ETF		37,311		—
Emerging Markets Core 2 ETF		49,731		—

In-kind transactions for the period ended April 30, 2022 were as follows (amounts in thousands):


	Purchases		Sales
US Core Equity ETF	$	788,453	$	12,208
US High Profitability ETF		235,538		—
US Real Estate ETF		60,106		—
US Small Cap Value ETF		50,473		—
International Core ETF		766,694		—
International Core Equity 2 ETF		118,687		—
International Small Cap Value ETF		45,262		—
International Small Cap ETF		31,398		—
International High Profitability ETF		131,160		—
Emerging Markets Core ETF		100,772		—
Emerging Markets High Profitability ETF		—		—
Emerging Markets Value ETF		6,307		—
Emerging Markets Core 2 ETF		8,669		—

There were no purchases or sales of U.S. government securities during the period ended April 30, 2022.

I. CAPITAL SHARES TRANSACTIONS

Shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof at net asset value. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail on the Statement of Changes in Net Assets.

The consideration for the purchase of Creation Units of a Fund generally consists of the in-kind deposit of a designated basket of securities, which constitutes an optimized representation of the securities of that Fund’s specified universe, and an amount of cash. Investors purchasing and redeeming Creation Units may be charged a transaction fee to cover the transfer and other transactional costs it incurs to issue or redeem Creation Units. The Advisor may increase, decrease or otherwise modify the creation transaction fee to an amount that, in its judgment, is necessary or appropriate to recoup for the Fund the costs it may incur as a result of such purchases, or to otherwise eliminate or reduce so far as practicable any dilution of the value of the Shares.

Such transactions fees are treated as increases in capital and are disclosed in the Funds’ Statements of Changes in Net Assets.

From time to time, settlement of securities related to subscriptions-in-kind or redemptions-in-kind may be delayed. In such cases, securities related to in-kind contributions are reflected as “Due from custodian” and securities related to in-kind redemptions are reflected as “Securities payable related to in-kind transactions” on the Statements of Assets and Liabilities.

J. FINANCIAL INSTRUMENTS

In accordance with the Funds’ investment objectives and policies, the Funds may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below:

Foreign Market Risks: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Funds may be inhibited.

K. LINE OF CREDIT AND INTERFUND LENDING PROGRAM

The Trust, together with other Dimensional-advised funds, has entered into a $700 million unsecured line of credit with its custodian bank effective January 2, 2022. A line of credit with similar terms was in effect through January 1, 2022. Each fund is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $700 million in the aggregate. Each Fund is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The line of credit agreement expires on January 1, 2023.

For the period ended April 30, 2022, borrowings by the Funds under the line of credit were as follows (amounts in thousands, except percentages and days):


	Weighted Average Interest Rate			Weighted Average Loan Balance		Number of Days Outstanding^*		Interest Expense Incurred		Maximum Amount Borrowed During the Period		Outstanding Borrowings as of 4/30/2022
Emerging Markets Core ETF		0.83	%	$	78		2		—	$	146		—

*	Number of Days Outstanding represents the total of single or consecutive days during the six months ended April 30, 2022 that the Fund’s available line of credit was used.

Pursuant to an exemptive order issued by the SEC (the “Order”), the Funds may participate in an interfund lending program among certain funds managed by the Advisor (funds that operate as feeder funds do not participate in the program). The program allows the participating funds to borrow money from and loan money to each other for temporary or emergency purposes, subject to the conditions in the Order. A loan can only be made through the program if the interfund loan rate on that day is more favorable to both the borrowing and lending funds as compared to rates available through short-term bank loans or investments in overnight repurchase agreements and money market funds, respectively, as detailed in the Order. Further, a fund may participate in the program only if and to the extent that such participation is consistent with its investment objectives and limitations. Interfund loans have a maximum duration of seven days and may be called on one business day’s notice.

The Funds did not use the interfund lending program during the period ended April 30, 2022.

L. RECENTLY ISSUED ACCOUNTING STANDARDS AND REGULATIONS

In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In January 2021, the FASB issued ASU No. 2021-01, with further amendments to Topic 848. The amendments in the ASUs provide optional temporary accounting recognition and financial reporting relief from the effect of certain types of contract modifications due to the planned discontinuation of the LIBOR and other interbank-offered based reference rates as of the end of 2021 and 2023. The ASUs are effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management has reviewed the requirements and believes the adoption of these ASUs will not have a material impact on the Funds’ financial statements.

In October 2020, the SEC adopted new regulations governing the use of derivatives by registered investment companies. Rule 18f-4 (the “Derivatives Rule”) imposes limits on the amount of derivatives contracts the Funds could enter, eliminate the asset segregation framework currently used by the Funds to comply with Section 18 of the 1940 Act, and require funds whose use of derivatives is more than a limited specified exposure to establish and maintain a derivatives risk management program and appoint a derivatives risk manager. The Derivatives Rule became effective February 19, 2021 and the Funds are required to comply on August 19, 2022. Management is currently evaluating the effect, if any, the Derivatives Rule will have on the Funds.

On December 3, 2020, the SEC adopted new Rule 2a-5 (the “Valuation Rule”) under the Investment Company Act of 1940, establishing an updated regulatory framework for fund valuation. The Valuation Rule, in part, provides a framework for good faith fair value determination and permits a Board to designate fair value determinations to a fund’s investment adviser. Further, the SEC is rescinding previously issued guidance on related issues. The Valuation Rule became effective on March 8, 2021, with a compliance date of September 8, 2022. Management is currently evaluating the Valuation Rule and its effect on the Funds.

M. OTHER

The Funds are subject to claims and suits that arise from time to time in the ordinary course of business (for example, claw back litigation against former shareholders of fund companies that filed for bankruptcy, such as the now ended litigation involving The Tribune Company and the ongoing litigation involving Nine West). Although management currently believes that resolving claims against the Funds, individually or in aggregate, will not have a material adverse impact on the Funds’ financial position, results of operations, or cash flows, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future.

As of April 30, 2022, the following number of shareholders held the following approximate percentages of the Funds’ outstanding shares. The following shareholders are omnibus accounts, which typically hold shares for the benefit of several other underlying investors.


	Number of Shareholders		Approximate Percentage of Outstanding Shares
US Core Equity ETF		2		100	%
US High Profitability ETF		1		100	%
US Real Estate ETF		1		100	%
US Small Cap Value ETF		1		100	%
International Core ETF		1		100	%
International Core Equity 2 ETF		1		100	%
International Small Cap Value ETF		1		100	%
International Small Cap ETF		1		100	%
International High Profitability ETF		1		100	%
Emerging Markets Core ETF		1		100	%
Emerging Markets High Profitability ETF		1		100	%
Emerging Markets Value ETF		1		100	%
Emerging Markets Core 2 ETF		1		100	%

N. CONFLICT BETWEEN RUSSIA AND UKRAINE

As a result of the conflict between Russia and Ukraine that began in February 2022, economic sanctions have been placed on Russia and certain of its citizens. It is uncertain how long the conflict, economic sanctions, and any resulting effect on global markets will continue. Management is currently evaluating the effect of these developments on the Funds.

O. SUBSEQUENT EVENTS

Management has evaluated the impact of all subsequent events on the Funds through the date on which the financial statements were issued and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements.

RESULTS OF THE SHAREHOLDER MEETING

On December 29, 2021, Dimensional ETF Trust (“DET”) held a Special Joint Meeting of Shareholders for the purpose of considering and voting upon the election of Trustees. Trustees were elected by the shareholders of all series of DET, including the Funds that were operational as of the record date. The results of the voting were as follows:

DET

Proposal: Election of Trustees*


	For Vote		Withhold Vote		Total Vote		% For Vote			% Withhold Vote			% Total Vote
1. Reena Aggarwal		461,913,282		2,821,367		464,734,649		99.39	%		0.61	%		100.00	%
2. David P. Butler		461,624,490		3,110,159		464,734,649		99.33	%		0.67	%		100.00	%
3. George M Constantinides		460,449,677		4,284,972		464,734,649		99.08	%		0.92	%		100.00	%
4. Douglas W. Diamond		461,505,330		3,229,319		464,734,649		99.31	%		0.69	%		100.00	%
5. Darrell Duffie		461,603,406		3,131,243		464,734,649		99.33	%		0.67	%		100.00	%
6. Francis A. Longstaff		461,641,978		3,092,671		464,734,649		99.33	%		0.67	%		100.00	%
7. Gerard K. O’Reilly		461,591,777		3,142,872		464,734,649		99.32	%		0.68	%		100.00	%
8. Abbie J. Smith		461,104,076		3,630,573		464,734,649		99.22	%		0.78	%		100.00	%
9. Heather E. Tookes		461,961,684		2,772,965		464,734,649		99.40	%		0.60	%		100.00	%
10. Ingrid M. Werner		461,292,481		3,442,168		464,734,649		99.26	%		0.74	%		100.00	%

*	Results are for all series within DET

VOTING PROXIES ON FUND PORTFOLIO SECURITIES

A description of the policies and procedures that the Fund and the Trust use in voting proxies relating to securities held in the portfolios is available (1) without charge, upon request, by calling collect: (512) 306-7400 (2) from the Advisor’s website at http://us.dimensional.com; and (3) on the SEC’s website at http://www.sec.gov. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC’s website at http://www.sec.gov and from the Advisor’s website at http://us.dimensional.com/about-us/investment-stewardship and reflects the twelve-month period beginning July 1st and ending June 30th.

STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT PROGRAM

Each series/portfolio of DFA Investment Dimensions Group Inc., Dimensional Investment Group Inc., Dimensional Emerging Markets Value Fund, Dimensional ETF Trust and The DFA Investment Trust Company, except for The DFA Short Term Investment Fund (each, a “Fund”), has adopted and implemented a written liquidity risk management program (the “Program”) pursuant to Rule 22e-4 under the Investment Company Act of 1940 (the “Liquidity Rule”). The Program includes policies and procedures reasonably designed to assess and manage each Fund’s liquidity risk (which is defined as the “risk that a fund could not meet requests to redeem shares issued by the fund without significant dilution of remaining investors’ interests in the fund”) and to comply with the requirements of the Liquidity Rule, including with respect to: (i) assessment, management and periodic review of liquidity risk; (ii) classification of portfolio holdings; (iii) establishment of a highly liquid investment minimum (“HLIM”), as applicable; (iv) illiquid investments; and (v) redemptions in-kind.

Each Fund’s Board of Directors/Trustees (collectively, the “Board”) previously approved the designation of the Liquidity Risk Management Committee of Dimensional Fund Advisors LP, each Fund’s investment advisor, to serve as administrator of the Program (the “Program Administrator”). The Program Administrator oversees the monitoring of liquidity and liquidity risk for each Fund on an ongoing basis.

At a meeting of the Board held on March 24-25, 2022, the Program Administrator provided its annual written report (the “Report”) to the Board addressing the operation of the Program and assessing its adequacy and effectiveness of implementation and any material changes to the Program for the period from January 1, 2021 through December 31, 2021 (the “Reporting Period”).

The Program Administrator conducted an annual review of each Fund’s liquidity risk in accordance with the requirements of the Liquidity Rule, taking into account the following factors enumerated in the Liquidity Rule and identified in the Program, as applicable:

1) Each Fund’s investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions, including: (i) whether the Fund’s investment strategy is appropriate for an open-end fund; (ii) the extent to which the Fund’s strategy involves a relatively concentrated portfolio or large positions in particular issuers; (iii) the Fund’s use of borrowings for investment purposes; and (iv) the Fund’s use of derivatives;

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions;

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources; and

4) For the series of the Dimensional ETF Trust that operate as exchange-traded funds (“ETFs”), in addition to the factors above: (i) the relationship between the ETF’s portfolio liquidity and the way in which, and the prices and spreads at which, ETF shares trade, including, the efficiency of the arbitrage function and the level of active participation by market participants (including authorized participants); and (ii) the effect of the composition of baskets on the overall liquidity of the ETF’s portfolio.

Based on the information considered, which included a review of notable liquidity matters that arose during the Reporting Period such as the impacts of extended market holidays and the transition away from the London Inter-Bank Offered Rate on the Funds’ portfolio liquidity, as applicable, the Report concluded that each of the Funds continues to have an investment strategy that is appropriate for an open-end fund, and that each of the Funds is reasonably likely to be able to meet redemption requests without significant dilution of remaining shareholders’ interests in the Fund. The Report further noted the flexibility of the Funds to draw on a line of credit and/or engage in interfund lending, as applicable.

In accordance with the Program, each Fund’s portfolio investments were classified into one of four liquidity categories as provided in the Liquidity Rule as applicable during the Reporting Period. Liquidity classification determinations take into account a variety of factors including market, trading and investment-specific considerations, as well as market depth in accordance with the requirements of the Liquidity Rule and as specified

in the Program, and generally incorporate analysis from a third-party data vendor. The Report reviewed the adequacy of the vendor methodology and services provided to the Funds during the Reporting Period and noted that the liquidity model functioned as intended.

Pursuant to the Liquidity Rule, no Fund may acquire any illiquid investment if, after the acquisition, the Fund would have invested more than 15% of its assets in illiquid investments that are assets. The Report concluded that the Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirements, as applicable, and that such provisions were implemented effectively during the Reporting Period.

In addition, the Report also referenced the ability of each Fund to effect in-kind redemptions to manage liquidity as needed and actual in-kind transactions pursuant to the Funds’ applicable policies and procedures effected during the Reporting Period. The Report further noted that the ETFs settle redemptions in-kind with authorized participants in the primary market.

During the Reporting Period, each of the Funds that is subject to the HLIM provisions of the Program qualified as a fund that primarily holds assets that are highly liquid investments and, therefore, no Fund was required to establish or comply with an HLIM as set forth in the Program.

On the basis of the review, the Report concluded that: (i) the Program remains reasonably designed to manage each Fund’s liquidity risk; (ii) the Program was implemented and operated effectively to achieve the goal of assessing and managing each Fund’s liquidity risk during the Reporting Period; and (iii) each Fund was able to meet requests for redemption without significant dilution of remaining investors in the Fund during the Reporting Period.

BOARD APPROVAL OF INVESTMENT MANAGEMENT AGREEMENTS

At the Board meeting held on December 14-15, 2021 (the “Meeting”), the Board of Trustees of Dimensional ETF Trust (the “Board”) considered the continuation of the investment management agreements for Dimensional US Core Equity Market ETF, Dimensional International Core Equity Market ETF, and Dimensional Emerging Core Equity Market ETF (collectively, the “Funds”) and, if applicable, a Fund’s sub-advisory agreements. For certain Funds, Dimensional Fund Advisors Ltd. or DFA Australia Limited serves as a sub-advisor. (The investment management agreements and the sub-advisory agreements are referred to as the “Management Agreements,” and the Advisor and sub-advisors are referred to as the “Advisor.”)

Prior to the Meeting, independent counsel to the Independent Board Members sent to the Advisor a request for information, which identified the information that the Independent Board Members wished to receive in order to consider the continuation of the Management Agreements. At a Board meeting held on October 29, 2021, the Board discussed the materials provided by the Advisor, the independent reports prepared by Access Data Inc. (the “Access Data Reports”), and issues related to the continuation of the Management Agreements. Also in advance of the Meeting, the Independent Board Members met with their independent counsel to discuss the materials and management provided additional materials to address and respond to questions that the Independent Board Members posed after their review and analysis of materials provided by the Advisor and the Access Data Reports.

At the Meeting, the Board considered a number of factors when considering the continuation of each Management Agreement for a Fund, including: (i) the nature, extent and quality of services provided by the Advisor to each Fund; (ii) the performance of each Fund and the Advisor; (iii) the fees and expenses borne by each Fund; (iv) the profitability realized by the Advisor from the relationship with each Fund; and (v) whether economies of scale are realized by the Advisor with respect to each Fund as it grows larger, and the extent to which this is reflected in the level of the management fee charged.

When considering the nature and quality of the services provided by the Advisor to a Fund, the Board reviewed: (a) the scope and depth of the Advisor’s organization; (b) the experience and expertise of its investment professionals currently providing management services to the Fund; and (c) the Advisor’s investment global advisory capabilities. The Board evaluated the Advisor’s portfolio management process and discussed the unique features of the Advisor’s investment approach. The Board also considered the nature and character of non-investment advisory services provided by the Advisor, including administrative services. After analyzing the caliber of services provided by the Advisor to each Fund, both quantitatively and qualitatively, including the impact of these services on investment performance, the Board concluded that the nature, extent and quality of services provided to each Fund were consistent with the operational requirements of the Fund and met the needs of the shareholders of the Fund.

In considering the performance of each Fund, the Board analyzed the Access Data Reports, which compared the performance of each Fund with other funds in its respective peer group and investment category. The Board also reviewed the performance analysis prepared by the Advisor, which presented the performance of each Fund and its benchmark index, over multiple performance periods, along with the Advisor’s explanation of the performance. The Board concluded that the Advisor’s explanations provided a sound basis for understanding the comparative performance of the Funds. The Board determined, among other things, that after considering each Fund’s investment strategies and the expectations of its shareholder base, the performance of each Fund was reasonable as compared with relevant performance standards and appropriate market indexes.

When considering the fees and expenses borne by each Fund, and considering the reasonableness of the management fees paid to the Advisor in light of the services provided to the Fund and any additional benefits received by the Advisor in connection with providing such services, the Board compared the fees charged by the Advisor to the Fund to the fees charged to the funds in its peer group for comparable services as provided in the Access Data Reports. The Board concluded that the effective management fees and total expenses of each Fund over various periods were favorable in relation to those of its peer funds, and that the management fees were fair, both on an absolute basis and in comparison with the fees of other funds identified in the peer groups and the industry at large.

The Board considered the profitability of each Fund to the Advisor by reviewing the profitability analysis provided by the Advisor, including information about its fee revenues and income. The Board reviewed the overall profitability of the Advisor, and the compensation that it received for providing services to each Fund. The Board considered the profitability to the Advisor of managing and servicing the Funds and the Advisor’s unregistered clients, such as collective trusts, group trusts and separate accounts. Upon closely examining the Advisor’s profitability, the Board concluded, among other things, that it was reasonable and similar to the profitability reported in previous years.

The Board also discussed whether economies of scale are realized by the Advisor with respect to each Fund as it grows larger, and the extent to which this is reflected in the level of management fees charged. For several reasons, the Board concluded that economies of scale and the reflection of such economies of scale in the level of management fees charged were inapplicable to each Fund at the present time, due to the current level of fees and expenses and the profitability of the Fund.

After full consideration of the factors discussed above, with no single factor identified as being of paramount importance, the Board, including the Independent Board Members, with the assistance of independent counsel, concluded that the continuation of the Management Agreement for each Fund was in the best interests of the Fund and its shareholders.

Also at the Meeting, the Board considered the approval of the Investment Management Agreements for the Dimensional US High Profitability ETF, Dimensional US Real Estate ETF, Dimensional US Small Cap Value ETF, Dimensional International Core Equity 2 ETF, Dimensional International Small Cap Value ETF, Dimensional International Small Cap ETF, Dimensional International High Profitability ETF, Dimensional Emerging Markets High Profitability ETF, Dimensional Emerging Markets Value ETF, and Dimensional Emerging Markets Core Equity 2 ETF (collectively, the “New Funds”) and, if applicable, a New Fund’s sub-advisory agreements. For certain New Funds, Dimensional Fund Advisors Ltd. and DFA Australia Limited serve as sub-advisors. (The Investment Management Agreements and the sub-advisory agreements are referred to as the “Management Agreements,” and the Advisor and sub-advisors are referred to as the “Advisor.”)

At the Meeting, the Board considered a number of factors when considering the approval of each Management Agreement for a New Fund, including: (i) the nature, extent and quality of services to be provided by the Advisor to each New Fund; (ii) the performance of the Advisor; (iii) the fees and expenses to be borne by each New Fund; (iv) the profitability to be realized by the Advisor from the relationship with each New Fund; and (v) whether economies of scale would be realized by the Advisor with respect to each New Fund as it grows larger, and the extent to which this is reflected in the level of the management fee charged.

When considering the nature and quality of the services to be provided by the Advisor to a New Fund, the Board reviewed: (a) the scope and depth of the Advisor’s organization; (b) the experience and expertise of its investment professionals that will be providing management services to the New Fund; and (c) the Advisor’s investment advisory capabilities. The Board evaluated the Advisor’s portfolio management process for each New Fund and discussed the unique features of the Advisor’s investment approach. The Board also considered the nature and character of non-investment management services that will be provided by the Advisor, including administrative services. After analyzing the caliber of services to be provided by the Advisor to each New Fund, both quantitatively and qualitatively, the Board concluded that the nature, extent and quality of services to be provided to each New Fund were consistent the New Fund’s anticipated operational requirements.

The Board also noted that, as each New Fund had not yet commenced investment operations, there was no investment performance for each New Fund or the Advisor in managing the New Fund for the Board to evaluate. Furthermore, the Board noted that the Advisor could not report any financial results from its relationship with each New Fund because each New Fund had not yet commenced investment operations, and thus, the Board could not evaluate profitability.

The Board also considered the proposed fees and projected expenses for each New Fund, and compared the fees to be charged to a New Fund by the Advisor to the fees charged by the Advisor to other relevant investment portfolios managed by the Advisor, and to the fees charged other funds managed by third parties in each New Fund’s anticipated peer group for comparable services. The Board concluded, among other things, that the proposed management fee and anticipated total expenses of each New Fund appeared to compare favorably to expected peer funds managed by others and to other investment portfolios managed by the Advisor, and that the proposed management fee for each New Fund was fair, both on an absolute basis and in comparison with other funds likely to be in the New Fund’s peer group. The Board also noted that the Advisor had agreed to a contractual fee waiver arrangement to limit the expenses of each New Fund. The Board also concluded that the shareholders of each New Fund were likely to receive reasonable value in return for paying the fees and expenses of the New Fund. The Board also concluded that, given each New Fund’s proposed management fee and each New Fund’s likely ranking among peer funds with respect to fees, economies of scale and the reflection of such economies of scale in the level of management fee charged were inapplicable to each New Fund at the present time.

After full consideration of the factors discussed above, with no single factor identified as being of paramount importance, the Board, including the Independent Board Members, with the assistance of independent counsel, concluded that the approval of the Management Agreements for each New Fund was in the best interests of the New Fund and its shareholders.


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