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Annual Report

Year Ended: October 31, 2023

 

 

DIMENSIONAL ETF TRUST

 

 

Dimensional U.S. Equity ETF

Dimensional U.S. Small Cap ETF

Dimensional U.S. Targeted Value ETF

Dimensional U.S. Core Equity 2 ETF

Dimensional US Marketwide Value ETF

Dimensional International Value ETF

Dimensional World ex U.S. Core Equity 2 ETF


LOGO

December 2023

Dear Shareholder,

Dimensional has been working with financial professionals for more than 40 years to deliver better results for investors. Our commitment to understanding financial professionals’ needs and building solutions informed by empirical research and ongoing innovation has helped to transform the industry toward more transparent, data-driven investments.

We use the information contained in market prices to seek better returns and manage risk. Trusting markets means we take a less subjective, more systematic approach to investing—an approach we can implement consistently around the world and across asset classes. Investor needs, economic theory, and robust data guide our investment process, from conducting research, to designing portfolios, to considering when and how to trade.

What started with the launch of our first fund in 1981 still holds true today. Every dollar invested is backed by financial science and Dimensional’s commitment to providing an outstanding investment experience. On behalf of everyone at Dimensional, we thank you for entrusting us with your investments.

Sincerely,

 

LOGO

 

David P. Butler

  

LOGO

 

Gerard O’Reilly

CO-CHIEF EXECUTIVE OFFICER    CO-CHIEF EXECUTIVE OFFICER and
   CHIEF INVESTMENT OFFICER


DIMENSIONAL ETF TRUST

ANNUAL REPORT

Table of Contents

 

Letter to Shareholders

  

Definitions of Abbreviations and Footnotes

     3  

Performance Charts

     4  

Management’s Discussion and Analysis

     8  

Disclosure of Fund Expenses

     12  

Disclosure of Portfolio Holdings

     14  

Summary Schedules of Investments

     16  

Dimensional U.S. Equity ETF

     16  

Dimensional U.S. Small Cap ETF

     19  

Dimensional U.S. Targeted Value ETF

     22  

Dimensional U.S. Core Equity 2 ETF

     25  

Dimensional US Marketwide Value ETF

     28  

Dimensional International Value ETF

     31  

Dimensional World ex U.S. Core Equity 2 ETF

     34  

Statements of Assets and Liabilities

     40  

Statements of Operations

     43  

Statements of Changes In Net Assets

     46  

Financial Highlights

     50  

Notes to Financial Statements

     57  

Report of Independent Registered Public Accounting Firm

     73  

Fund Management

     74  

Tax Notice to Shareholders

     88  

Voting Proxies on Fund Portfolio Securities

     90  

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

 

i


 

[THIS PAGE INTENTIONALLY LEFT BLANK]


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 Securities

#

   Total or Partial Securities on Loan

§

   Affiliated Fund

@

   Security purchased with cash collateral received from Securities on Loan
Financial Highlights   

(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)

   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

(d)

   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

 

3


DIMENSIONAL ETF TRUST

PERFORMANCE CHARTS

(Unaudited)

 

 

Dimensional U.S. Equity ETF vs.

Russell 3000 Index

October 31, 2013-October 31, 2023

 

LOGO      

 

Past performance is not predictive of future performance.

 

The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The price used to calculate market return (“Fund Market Price”) is the market closing price as determined by the fund’s listing exchange.

 

The inception date is the date the fund commenced operations. Shares of the fund began trading in the secondary market on November 1, 2013

 

FTSERussell data © FTSERussell 2023, all rights reserved.

 

 

 

 

 

Dimensional U.S. Small Cap ETF vs.

Russell 2000 Index

October 31, 2013-October 31, 2023

 

LOGO      

 

Past performance is not predictive of future performance.

 

The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The price used to calculate market return (“Fund Market Price”) is the market closing price as determined by the fund’s listing exchange.

 

The inception date is the date the fund commenced operations. Shares of the fund began trading in the secondary market on November 1, 2013

 

FTSERussell data © FTSERussell 2023, all rights reserved.

 

 

 

 

4


DIMENSIONAL ETF TRUST

PERFORMANCE CHARTS

(Unaudited)

 

 

Dimensional U.S. Targeted Value ETF vs.

Russell 2000 Value Index

October 31, 2013-October 31, 2023

 

LOGO      

 

Past performance is not predictive of future performance.

 

The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The price used to calculate market return (“Fund Market Price”) is the market closing price as determined by the fund’s listing exchange.

 

The inception date is the date the fund commenced operations. Shares of the fund began trading in the secondary market on November 1, 2013

 

FTSERussell data © FTSERussell 2023, all rights reserved.

 

 

 

 

 

Dimensional U.S. Core Equity 2 ETF vs.

Russell 3000 Index

October 31, 2013-October 31, 2023

 

LOGO      

 

Past performance is not predictive of future performance.

 

The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The price used to calculate market return (“Fund Market Price”) is the market closing price as determined by the fund’s listing exchange.

 

The inception date is the date the fund commenced operations. Shares of the fund began trading in the secondary market on November 1, 2013

 

FTSERussell data © FTSERussell 2023, all rights reserved

 

 

 

 

5


DIMENSIONAL ETF TRUST

PERFORMANCE CHARTS

(Unaudited)

 

 

Dimensional US Marketwide Value ETF vs.

Russell 3000 Value Index

October 31, 2013-October 31, 2023

 

LOGO      

 

Past performance is not predictive of future performance.

 

The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The price used to calculate market return (“Fund Market Price”) is the market closing price as determined by the fund’s listing exchange.

 

The inception date is the date the fund commenced operations. Shares of the fund began trading in the secondary market on November 1, 2013

 

FTSERussell data © FTSERussell 2023, all rights reserved.

 

 

 

 

 

Dimensional International Value ETF vs.

MSCI World ex USA Value Index (net dividends)

October 31, 2013-October 31, 2023

 

LOGO      

 

Past performance is not predictive of future performance.

 

The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The price used to calculate market return (“Fund Market Price”) is the market closing price as determined by the fund’s listing exchange.

 

The inception date is the date the fund commenced operations. Shares of the fund began trading in the secondary market on November 1, 2013

 

MSCI data © MSCI 2023, all rights reserved.

 

 

 

 

6


DIMENSIONAL ETF TRUST

PERFORMANCE CHARTS

(Unaudited)

 

 

Dimensional World ex U.S. Core Equity 2 ETF vs.

MSCI All Country World ex USA Index (net dividends)

October 31, 2013-October 31, 2023

 

LOGO      

 

Past performance is not predictive of future performance.

 

The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The price used to calculate market return (“Fund Market Price”) is the market closing price as determined by the fund’s listing exchange.

 

The inception date is the date the fund commenced operations. Shares of the fund began trading in the secondary market on November 1, 2013

 

MSCI data © MSCI 2023, all rights reserved

 

 

 

 

 

7


DIMENSIONAL ETF TRUST

MANAGEMENT’S DISCUSSION AND ANALYSIS

 

U.S. Equity Market Review   12 Months Ended October 31, 2023

U.S. equities had positive returns for the period. The broad U.S. equity market, as measured by the Russell 3000® Index, gained 8.38%. As measured by Russell indices, small-cap stocks underperformed large-cap stocks, and mid-cap stocks underperformed large-cap stocks but outperformed small-cap stocks. Value stocks underperformed growth stocks as measured by the Russell indices.

 

Total Return for 12 Months Ended October 31, 2023

 

Russell 3000® Index

     8.38

Russell 1000® Index (large-cap stocks)

     9.48

Russell Midcap® Index (mid-cap stocks, a subset of the large cap universe)

     -1.01

Russell 2000® Index (small-cap stocks)

     -8.56

Russell Microcap® Index (micro-cap stocks)

     -16.40

Dow Jones U.S. Select REIT IndexSM

     -6.25

 

Total Return for 12 Months Ended October 31, 2023

 

Russell 1000® Value Index (large-cap value stocks)

     0.13

Russell 1000® Growth Index (large-cap growth stocks)

     18.95

Russell 2000® Value Index (small-cap value stocks)

     -9.93

Russell 2000® Growth Index (small cap growth stocks)

     -7.63

Source: Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes.

Dimensional U.S. Equity ETF

The Dimensional U.S. Equity ETF invests in a broadly diversified group of U.S. securities while considering the federal tax implications of investment decisions. The ETF generally excludes stocks with the lowest profitability and highest relative price, certain companies with high asset growth, and real estate investment trusts (REITs). The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2023, the ETF held approximately 2,390 securities. Average cash exposure throughout the year was less than 1% of the ETF’s assets.

For the 12 months ended October 31, 2023, total returns were 9.34% for the ETF and 8.38% for the Russell 3000® Index, the ETF’s benchmark. The ETF’s exclusion of small cap stocks with the lowest profitability and highest relative price contributed positively to relative performance, as those stocks generally underperformed. Additionally, the ETF’s exclusion of REITs also contributed positively to relative performance, as REITs generally underperformed.

Dimensional U.S. Small Cap ETF

The Dimensional U.S. Small Cap ETF invests in a broadly diversified group of U.S. small-cap stocks while considering the federal tax implications of investment decisions. The ETF generally excludes stocks with the lowest profitability and highest relative price, certain companies with high asset growth, and real estate investment trusts (REITs). The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2023, the ETF held approximately 2,070 securities. Average cash exposure throughout the year was less than 1% of the ETF’s assets.

For the 12 months ended October 31, 2023, total returns were -3.94% for the ETF and -8.56% for the Russell 2000® Index, the ETF’s benchmark. The ETF’s exclusion of stocks with the lowest profitability and highest relative price contributed positively to performance relative to the benchmark, as those stocks generally underperformed. The ETF’s exclusion of REITs also contributed positively to relative performance, as REITs generally underperformed.

 

8


DIMENSIONAL ETF TRUST

CONTINUED

 

Dimensional U.S. Targeted Value ETF

The Dimensional U.S. Targeted Value ETF invests in a broadly diversified group of U.S. small- and mid-cap value stocks with higher profitability, while considering the federal tax implications of investment decisions. The ETF generally excludes certain companies with high asset growth, real estate investment trusts (REITs), and highly regulated utilities. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2023, the ETF held approximately 1,600 securities. Average cash exposure throughout the year was less than 1% of the ETF’s assets.

For the 12 months ended October 31, 2023, total returns were -0.93% for the ETF and -9.93% for the Russell 2000® Value Index, the ETF’s benchmark. The ETF’s emphasis on higher-profitability stocks within the small- and mid-cap value segment of the U.S. market contributed positively to relative performance, as these stocks generally outperformed. The ETF’s inclusion of mid-cap stocks also contributed positively to relative performance, as these stocks generally outperformed. Additionally, the ETF’s exclusion of REITs and highly regulated utilities contributed positively to relative performance, as REITs and utilities generally underperformed.

Dimensional U.S. Core Equity 2 ETF

The Dimensional U.S. Core Equity 2 ETF invests in a broadly diversified group of U.S. securities with increased exposure to smaller market capitalization stocks, lower relative price (value) stocks, and higher-profitability stocks relative to the market while considering federal tax implications of investment decisions. Additionally, the ETF generally excludes real estate investment trusts (REITs). The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2023, the ETF held approximately 2,690 securities. Average cash exposure throughout the year was less than 1% of the ETF’s assets.

For the 12 months ended October 31, 2023, total returns were 5.21% for the ETF and 8.38% for the Russell 3000® Index, the ETF’s benchmark. The ETF’s emphasis on stocks with smaller market capitalizations detracted from relative performance, as these stocks generally underperformed. With value stocks underperforming growth stocks, the ETF’s greater emphasis on value stocks also detracted from performance relative to the benchmark. Conversely, the ETF’s exclusion of REITs contributed positively to relative performance, as REITs generally underperformed.

Dimensional US Marketwide Value ETF

The Dimensional US Marketwide Value ETF invests in a broadly diversified group of U.S. low relative price (value) stocks while considering the federal tax implications of investment decisions. The investment strategy is process driven, emphasizing broad diversification with increased exposure to stocks with smaller market capitalizations, lower relative price (value), and higher profitability within the value segment of the U.S. market. Additionally, the ETF generally excludes real estate investment trusts (REITs) and highly regulated utilities. As of October 31, 2023, the Portfolio held approximately 1,320 securities. Average cash exposure throughout the year was less than 1% of the Portfolio’s assets.

For the 12 months ended October 31, 2023, total returns were -1.13% for the ETF and -0.48% for the Russell 3000® Value Index, the ETF’s benchmark. The ETF’s emphasis on stocks with smaller market capitalizations detracted from relative performance, as these stocks underperformed. Conversely, the ETF’s exclusion of REITs and highly regulated utilities contributed positively to relative performance, as REITs and utilities generally underperformed.

 

International Equity Market Review    12 Months Ended October 31, 2023

Performance of non-U.S. developed markets was positive for the period outperforming the US and emerging markets. As measured by the MSCI World ex USA indices, small-cap stocks underperformed large-cap stocks, and mid-cap stocks underperformed large-cap stocks but outperformed small-cap stocks. Value stocks outperformed growth stocks as measured by the MSCI World ex USA indices.

 

9


DIMENSIONAL ETF TRUST

CONTINUED

 

Total Return for 12 Months Ended October 31, 2023

 
     Return in U.S. Dollars  

MSCI World ex USA Index

     12.56

MSCI World ex USA Mid Cap Index (a subset of the large-cap universe)

     9.62

MSCI World ex USA Small Cap Index

     5.66

MSCI World ex USA Value Index

     15.70

MSCI World ex USA Growth Index

     9.49

For the 12 months ended October 31, 2023, the U.S. dollar appreciated against more than half of non-U.S. developed markets currencies. Overall, currency movements had a positive impact on the U.S. dollar-denominated returns of developed markets.

 

Total Return for 12 Months Ended October 31, 2023

 
     Local Return     Return in
U.S. Dollars
 

Japan

     19.00     16.79

United Kingdom

     7.11     12.88

Canada

     0.51     -1.24

France

     10.52     18.19

Switzerland

     -2.37     7.36

Australia

     4.89     3.85

Germany

     10.73     18.42

Netherlands

     11.07     18.56

Sweden

     7.32     6.14

Denmark

     31.92     40.72

Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2023, all rights reserved.

Emerging markets had positive performance for the period and outperformed U.S. markets while underperforming non-U.S. developed markets. As measured by the MSCI Emerging Markets indices, small-cap stocks outperformed large-cap stocks and mid-cap stocks. Value stocks outperformed growth stocks as measured by the MSCI Emerging Markets indices.

 

Total Return for 12 Months Ended October 31, 2023

 
     Return in U.S. Dollars  

MSCI Emerging Markets Index

     10.80

MSCI Emerging Markets Mid Cap Index (a subset of the large-cap universe)

     10.42

MSCI Emerging Markets Small Cap Index

     17.20

MSCI Emerging Markets Value Index

     13.43

MSCI Emerging Markets Growth Index

     8.33

For the 12 months ended October 31, 2023, the U.S. dollar appreciated against more than half of emerging markets currencies. Overall, currency movements had a positive impact on the U.S. dollar denominated returns of emerging markets.

 

Total Return for 12 Months Ended October 31, 2023

 
     Local Return     Return in
U.S. Dollars
 

China

     20.83     21.12

India

     4.76     4.16

Taiwan

     27.06     26.22

Korea

     2.72     8.34

Brazil

     -1.84     2.14

 

10


DIMENSIONAL ETF TRUST

CONTINUED

 

Saudi Arabia

     -11.52     -11.38

South Africa

     3.73     1.69

Mexico

     0.13     10.10

Indonesia

     -5.51     -7.22

Thailand

     -9.60     -4.28

Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2023, all rights reserved.

For Portfolios investing in non-U.S. equities traded outside of the U.S. market time zone, differences in the valuation timing and methodology between a Portfolio and its benchmark index may impact relative performance over the referenced period. The Portfolios price foreign exchange rates at the closing of the U.S. market, while their benchmark indices use rates at 4 p.m. London time. The Portfolios also may use fair value pricing to price certain portfolio securities at the closing of the U.S. market, while benchmark indices may use local market closing prices. For the one-year period ended October 31, 2023, these differences generally contributed positively to non-US developed markets Portfolios’ relative performance and were not material to emerging markets Portfolios’ relative performance.

Dimensional International Value ETF

The Dimensional International Value ETF invests in a broadly diversified group of developed ex U.S. large company value stocks while considering the federal tax implications of investment decisions. The investment strategy is process driven, emphasizing broad diversification, with increased exposure to stocks with smaller total market capitalizations, lower relative price (value), and higher-profitability within the large-cap value segment of developed ex U.S. markets. Additionally, the ETF generally excludes real estate investment trusts (REITs) and highly regulated utilities. Additionally, the ETF generally excludes real estate investment trusts (REITs) and highly regulated utilities. As of October 31, 2023, the ETF held approximately 540 securities in 22 eligible developed markets. Average cash exposure throughout the year was less than 1% of the ETF’s assets.

For the 12 months ended October 31, 2023, total returns were 16.29% for the ETF and 15.70% for the MSCI World ex USA Value Index, the ETF’s benchmark. With value stocks outperforming growth stocks, the ETF’s focus on value stocks contributed positively to performance relative to the benchmark. The ETF’s exclusion of REITs also contributed positively to relative performance, as REITs generally underperformed.

Dimensional World ex U.S. Core Equity 2 ETF

The Dimensional World ex U.S. Core 2 Equity ETF invests in a broadly diversified group of stocks in developed ex U.S. and emerging markets, with increased exposure to stocks with smaller market capitalization, lower relative price, and higher profitability, while considering potential federal tax implications of investment decisions. Additionally, the ETF generally excludes real estate investment trusts (REITs). The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2023, the ETF held approximately 9,610 securities in 46 eligible developed and emerging markets. Average cash exposure throughout the year was less than 1% of the ETF’s assets.

For the 12 months ended October 31, 2023, total returns were 13.76% for the ETF and 12.07% for the MSCI All Country World ex USA Index (net dividends), the ETF’s benchmark. The ETF’s emphasis on low relative price (value) stocks contributed positively to performance relative to the benchmark, as value stocks outperformed high relative price (growth) stocks in developed ex U.S. and emerging markets.

 

11


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 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 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 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 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.

 

EXPENSE TABLES    For the period ended October 31, 2023

 

     Beginning
Account Value
5/1/2023
     Ending
Account Value
10/31/2023
     Annualized
Expense
Ratio
    Expenses Paid
During
Period(a)
 

Dimensional U.S. Equity ETF

          

Actual Fund Return

   $ 1,000.00      $ 1,014.90        0.09   $ 0.46  

Hypothetical 5% Annual Return

   $ 1,000.00      $ 1,024.75        0.09   $ 0.46  

Dimensional U.S. Small Cap ETF

          

Actual Fund Return

   $ 1,000.00      $ 963.90        0.27   $ 1.34  

Hypothetical 5% Annual Return

   $ 1,000.00      $ 1,023.84        0.27   $ 1.38  

Dimensional U.S. Targeted Value ETF

          

Actual Fund Return

   $ 1,000.00      $ 1,000.60        0.28   $ 1.41  

Hypothetical 5% Annual Return

   $ 1,000.00      $ 1,023.79        0.28   $ 1.43  

 

12


DISCLOSURE OF FUND EXPENSES

CONTINUED

 

     Beginning
Account Value
5/1/2023
     Ending
Account Value
10/31/2023
     Annualized
Expense
Ratio
    Expenses Paid
During
Period(a)
 

Dimensional U.S. Core Equity 2 ETF

          

Actual Fund Return

   $ 1,000.00      $ 995.40        0.18   $ 0.91  

Hypothetical 5% Annual Return

   $ 1,000.00      $ 1,024.30        0.18   $ 0.92  

Dimensional US Marketwide Value ETF

          

Actual Fund Return

   $ 1,000.00      $ 972.60        0.21   $ 1.04  

Hypothetical 5% Annual Return

   $ 1,000.00      $ 1,024.15        0.21   $ 1.07  

Dimensional International Value ETF

          

Actual Fund Return

   $ 1,000.00      $ 956.50        0.27   $ 1.33  

Hypothetical 5% Annual Return

   $ 1,000.00      $ 1,023.84        0.27   $ 1.38  

Dimensional World ex U.S. Core Equity 2 ETF

          

Actual Fund Return

   $ 1,000.00      $ 945.40        0.27   $ 1.32  

Hypothetical 5% Annual Return

   $ 1,000.00      $ 1,023.84        0.27   $ 1.38  

(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 (184), then divided by the number of days in the year (365) to reflect the six-month period.

 

13


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 September 27, 2023. It is 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 Investments” in lieu of a full Schedule of Investments. The Summary Schedule of Investments 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 Investments identifies 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 is 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 U.S. Equity ETF       

Communication Services

     8.5

Consumer Discretionary

     10.9

Consumer Staples

     6.5

Energy

     4.9

Financials

     13.5

Health Care

     12.9

Industrials

     9.9

Information Technology

     27.5

Materials

     2.7

Real Estate

     0.2

Utilities

     2.5
  

 

 

 
     100.0
Dimensional U.S. Core Equity 2 ETF  

Communication Services

     6.6

Consumer Discretionary

     10.2

Consumer Staples

     6.2

Energy

     7.3

Financials

     15.1

Health Care

     12.2

Industrials

     13.6

Information Technology

     22.3

Materials

     4.3

Real Estate

     0.3

Utilities

     1.9
  

 

 

 
     100.0

Dimensional U.S. Small Cap ETF       

Communication Services

     2.6

Consumer Discretionary

     14.2

Consumer Staples

     4.2

Energy

     7.7

Financials

     18.9

Health Care

     10.2

Industrials

     20.8

Information Technology

     11.8

Materials

     6.2

Real Estate

     0.7

Utilities

     2.7
     100.0
Dimensional US Marketwide Value ETF  

Communication Services

     8.5

Consumer Discretionary

     6.2

Consumer Staples

     4.3

Energy

     15.0

Financials

     22.2

Health Care

     13.6

Industrials

     14.6

Information Technology

     8.6

Materials

     6.4

Real Estate

     0.3

Utilities

     0.3
  

 

 

 
     100.0
Dimensional U.S. Targeted Value ETF  

Communication Services

     3.0

Consumer Discretionary

     16.0

Consumer Staples

     4.4

Energy

     11.0

Financials

     26.0

Health Care

     5.4

Industrials

     17.8

Information Technology

     7.8

Materials

     7.2

Real Estate

     1.0

Utilities

     0.4
  

 

 

 
     100.0
Dimensional International Value ETF  

Communication Services

     3.4

Consumer Discretionary

     12.6

Consumer Staples

     4.5

Energy

     15.5

Financials

     27.6

Health Care

     7.1

Industrials

     10.2

Information Technology

     1.8

Materials

     13.6

Real Estate

     2.2

Utilities

     1.5
  

 

 

 
     100.0

 

14


DISCLOSURE OF PORTFOLIO HOLDINGS

CONTINUED

 

Dimensional World ex U.S. Core Equity 2 ETF  

Communication Services

     4.9

Consumer Discretionary

     12.3

Consumer Staples

     7.2

Energy

     8.4

Financials

     16.4

Health Care

     6.5

Industrials

     15.8

Information Technology

     11.4

Materials

     12.0

Real Estate

     2.2

Utilities

     2.9
  

 

 

 
     100.0

 

15


DIMENSIONAL U.S. EQUITY ETF

SUMMARY SCHEDULE OF INVESTMENTS

October 31, 2023

 

         Shares      Value†      Percentage of
Net Assets‡
 

COMMON STOCKS — (97.3%)

        

COMMUNICATION SERVICES — (8.3%)

        

*

 

Alphabet, Inc., Class A

     958,777      $ 118,965,050        1.8

*

 

Alphabet, Inc., Class C

     929,182        116,426,505        1.8
 

Comcast Corp., Class A

     692,864        28,608,355        0.5

*

 

Meta Platforms, Inc., Class A

     370,490        111,617,522        1.7

*

 

Netflix, Inc.

     73,927        30,435,007        0.5
 

Verizon Communications, Inc.

     702,450        24,677,068        0.4

*

 

Walt Disney Co. (The)

     307,347        25,076,442        0.4
 

Other Securities

        100,856,564        1.4
       

 

 

    

 

 

 

TOTAL COMMUNICATION SERVICES

        556,662,513        8.5
       

 

 

    

 

 

 

CONSUMER DISCRETIONARY — (10.6%)

        

*

 

Amazon.com, Inc.

     1,544,878        205,607,813        3.2
 

Home Depot, Inc. (The)

     168,055        47,843,578        0.8
 

McDonald’s Corp.

     122,358        32,078,597        0.5

*

 

Tesla, Inc.

     472,241        94,844,882        1.5
 

Other Securities

        336,829,181        4.9
       

 

 

    

 

 

 

TOTAL CONSUMER DISCRETIONARY

        717,204,051        10.9
       

 

 

    

 

 

 

CONSUMER STAPLES — (6.3%)

        
 

Coca-Cola Co. (The)

     684,467        38,665,541        0.6
 

Costco Wholesale Corp.

     73,882        40,815,372        0.6
 

PepsiCo, Inc.

     230,456        37,628,856        0.6
 

Philip Morris International, Inc.

     256,809        22,897,090        0.4
 

Procter & Gamble Co. (The)

     395,449        59,329,213        0.9
 

Walmart, Inc.

     245,877        40,178,761        0.6
 

Other Securities

        184,869,860        2.8
       

 

 

    

 

 

 

TOTAL CONSUMER STAPLES

        424,384,693        6.5
       

 

 

    

 

 

 

ENERGY — (4.7%)

        

#

 

Chevron Corp.

     298,436        43,491,078        0.7
 

ConocoPhillips

     202,984        24,114,499        0.4
 

Exxon Mobil Corp.

     674,471        71,392,755        1.1
 

Other Securities

        180,766,092        2.7
       

 

 

    

 

 

 

TOTAL ENERGY

        319,764,424        4.9
       

 

 

    

 

 

 

FINANCIALS — (13.1%)

        
 

Bank of America Corp.

     1,188,324        31,300,454        0.5

*

 

Berkshire Hathaway, Inc., Class B

     306,283        104,543,576        1.6
 

JPMorgan Chase & Co.

     485,876        67,565,917        1.0
 

Mastercard, Inc., Class A

     142,710        53,708,909        0.8

#

 

Visa, Inc., Class A

     271,025        63,717,977        1.0
 

Wells Fargo & Co.

     604,133        24,026,369        0.4
 

Other Securities

        538,064,755        8.2
       

 

 

    

 

 

 

TOTAL FINANCIALS

        882,927,957        13.5
       

 

 

    

 

 

 

HEALTH CARE — (12.6%)

        
 

Abbott Laboratories

     291,629        27,573,522        0.4
 

AbbVie, Inc.

     294,259        41,543,486        0.6
 

Amgen, Inc.

     88,686        22,677,010        0.4
 

Danaher Corp.

     116,365        22,344,407        0.4
 

Eli Lilly & Co.

     136,571        75,650,774        1.2
 

Johnson & Johnson

     397,858        59,018,266        0.9
 

Merck & Co., Inc.

     425,641        43,713,331        0.7
 

Pfizer, Inc.

     949,360        29,012,442        0.5
 

Thermo Fisher Scientific, Inc.

     64,831        28,834,884        0.5

 

16


DIMENSIONAL U.S. EQUITY ETF

CONTINUED

 

          Shares      Value†      Percentage of
Net Assets‡
 

HEALTH CARE — (Continued)

        
  

UnitedHealth Group, Inc.

     155,230      $ 83,134,979        1.3
  

Other Securities

        413,405,383        6.0
        

 

 

    

 

 

 

TOTAL HEALTH CARE

        846,908,484        12.9
        

 

 

    

 

 

 

INDUSTRIALS — (9.6%)

        
  

Other Securities

        645,911,219        9.8
        

 

 

    

 

 

 

INFORMATION TECHNOLOGY — (26.8%)

        
  

Accenture PLC, Class A

     110,488        32,824,880        0.5

*

  

Adobe, Inc.

     75,284        40,055,605        0.6

*

  

Advanced Micro Devices, Inc.

     272,465        26,837,802        0.4
  

Apple, Inc.

     2,620,142        447,441,649        6.8
  

Broadcom, Inc.

     69,014        58,066,309        0.9
  

Cisco Systems, Inc.

     682,141        35,560,010        0.5
  

Intel Corp.

     704,137        25,701,000        0.4
  

International Business Machines Corp.

     151,999        21,985,135        0.3
  

Intuit, Inc.

     46,710        23,119,114        0.4
  

Microsoft Corp.

     1,171,664        396,151,315        6.0
  

NVIDIA Corp.

     409,915        167,163,337        2.6
  

Oracle Corp.

     291,400        30,130,760        0.5

*

  

Salesforce, Inc.

     162,873        32,709,785        0.5
  

Other Securities

        466,821,073        7.1
        

 

 

    

 

 

 

TOTAL INFORMATION TECHNOLOGY

        1,804,567,774        27.5
        

 

 

    

 

 

 

MATERIALS — (2.7%)

        
  

Linde PLC

     83,086        31,752,146        0.5
  

Other Securities

        148,257,260        2.2
        

 

 

    

 

 

 

TOTAL MATERIALS

        180,009,406        2.7
        

 

 

    

 

 

 

REAL ESTATE — (0.2%)

        
  

Other Securities

        12,874,853        0.2
        

 

 

    

 

 

 

UTILITIES — (2.4%)

        
  

Other Securities

        163,643,422        2.5
        

 

 

    

 

 

 

TOTAL COMMON STOCKS

        6,554,858,796        99.9
        

 

 

    

 

 

 

PREFERRED STOCK — (0.0%)

        

INDUSTRIALS — (0.0%)

        
  

Other Securities

        82,512        0.0
        

 

 

    

 

 

 

TOTAL PREFERRED STOCK

        82,512        0.0
        

 

 

    

 

 

 

RIGHTS/WARRANTS — (0.0%)

        

ENERGY — (0.0%)

        
  

Other Securities

        4,185        0.0
        

 

 

    

 

 

 

HEALTH CARE — (0.0%)

        
  

Other Securities

        122,946        0.0
        

 

 

    

 

 

 

INDUSTRIALS — (0.0%)

        
  

Other Securities

        556        0.0
        

 

 

    

 

 

 

TOTAL RIGHTS/WARRANTS

        127,687        0.0
        

 

 

    

 

 

 

TOTAL INVESTMENT SECURITIES — (97.3%)

        
  

(Cost $2,899,876,011)

        6,555,068,995     
        

 

 

    

SECURITIES LENDING COLLATERAL — (2.7%)

        

  

The DFA Short Term Investment Fund

     15,945,664        184,443,567        2.8
        

 

 

    

 

 

 

TOTAL INVESTMENTS — (100.0%)

        
  

(Cost $3,084,319,578)

      $ 6,739,512,562        102.7
        

 

 

    

 

 

 

 

17


DIMENSIONAL U.S. EQUITY ETF

CONTINUED

 

Summary of the Fund’s investments as of October 31, 2023, 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

   $ 556,662,513      $ —        $ —        $ 556,662,513  

Consumer Discretionary

     717,204,051        —          —          717,204,051  

Consumer Staples

     424,384,693        —          —          424,384,693  

Energy

     319,764,424        —          —          319,764,424  

Financials

     882,927,957        —          —          882,927,957  

Health Care

     846,881,152        —          27,332        846,908,484  

Industrials

     645,911,219        —          —          645,911,219  

Information Technology

     1,804,567,774        —          —          1,804,567,774  

Materials

     180,009,406        —          —          180,009,406  

Real Estate

     12,874,853        —          —          12,874,853  

Utilities

     163,643,422        —          —          163,643,422  

Preferred Stock

           

Industrials

     82,512        —          —          82,512  

Rights/Warrants

           

Energy

     —          4,185        —          4,185  

Health Care

     —          119,178        3,768        122,946  

Industrials

     —          556        —          556  

Securities Lending Collateral

     —          184,443,567        —          184,443,567  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

   $ 6,554,913,976      $ 184,567,486      $ 31,100      $ 6,739,512,562  
  

 

 

    

 

 

    

 

 

    

 

 

 

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.

 

18


DIMENSIONAL U.S. SMALL CAP ETF

SUMMARY SCHEDULE OF INVESTMENTS

October 31, 2023

 

          Shares      Value†      Percentage of
Net Assets‡
 

COMMON STOCKS — (92.0%)

        

COMMUNICATION SERVICES — (2.4%)

        
  

Other Securities

      $ 146,074,312        2.6
        

 

 

    

 

 

 

CONSUMER DISCRETIONARY — (13.0%)

        
  

Group 1 Automotive, Inc.

     48,111        12,139,849        0.2
  

Murphy USA, Inc.

     65,829        23,875,520        0.4

*

  

Taylor Morrison Home Corp.

     301,535        11,554,821        0.2
  

Other Securities

        745,631,713        13.3
        

 

 

    

 

 

 

TOTAL CONSUMER DISCRETIONARY

        793,201,903        14.1
        

 

 

    

 

 

 

CONSUMER STAPLES — (3.9%)

        
  

Other Securities

        236,084,993        4.2
        

 

 

    

 

 

 

ENERGY — (7.1%)

        

#*

  

CNX Resources Corp.

     527,561        11,458,625        0.2

#

  

Patterson-UTI Energy, Inc.

     1,047,625        13,304,838        0.2
  

PBF Energy, Inc., Class A

     280,274        13,321,423        0.2
  

SM Energy Co.

     290,705        11,721,226        0.2
  

TechnipFMC PLC

     878,373        18,902,587        0.3
  

Other Securities

        361,630,407        6.6
        

 

 

    

 

 

 

TOTAL ENERGY

        430,339,106        7.7
        

 

 

    

 

 

 

FINANCIALS — (17.4%)

        
  

Assured Guaranty, Ltd.

     191,615        11,956,776        0.2

#

  

Cadence Bank

     635,405        13,457,878        0.2
  

Essent Group, Ltd.

     250,828        11,849,115        0.2
  

FirstCash Holdings, Inc.

     112,656        12,270,492        0.2
  

Hanover Insurance Group, Inc. (The)

     112,880        13,230,665        0.2
  

RLI Corp.

     127,893        17,040,463        0.3
  

Selective Insurance Group, Inc.

     195,036        20,305,198        0.4

#

  

SouthState Corp.

     188,572        12,464,609        0.2
  

United Bankshares, Inc.

     425,583        12,103,581        0.2
  

Other Securities

        936,192,755        16.8
        

 

 

    

 

 

 

TOTAL FINANCIALS

        1,060,871,532        18.9
        

 

 

    

 

 

 

HEALTH CARE — (9.4%)

        
  

Ensign Group, Inc. (The)

     183,223        17,699,342        0.3

*

  

Exelixis, Inc.

     636,960        13,115,006        0.2

*

  

Merit Medical Systems, Inc.

     189,514        13,027,192        0.2

*

  

Option Care Health, Inc.

     520,566        14,435,295        0.3
  

Other Securities

        515,054,778        9.2
        

 

 

    

 

 

 

TOTAL HEALTH CARE

        573,331,613        10.2
        

 

 

    

 

 

 

INDUSTRIALS — (19.2%)

        
  

Applied Industrial Technologies, Inc.

     130,833        20,084,174        0.4

*

  

ASGN, Inc.

     169,528        14,148,807        0.3

*

  

Beacon Roofing Supply, Inc.

     178,684        12,716,940        0.2

#

  

BWX Technologies, Inc.

     171,668        12,751,499        0.2
  

Comfort Systems USA, Inc.

     124,942        22,720,703        0.4

*

  

ExlService Holdings, Inc.

     452,096        11,804,227        0.2
  

Federal Signal Corp.

     197,428        11,458,721        0.2

#*

  

FTI Consulting, Inc.

     86,494        18,359,216        0.3
  

GATX Corp.

     118,481        12,390,743        0.2
  

Insperity, Inc.

     116,675        12,348,882        0.2
  

MSA Safety, Inc.

     107,251        16,932,788        0.3
  

Simpson Manufacturing Co., Inc.

     86,653        11,540,447        0.2
  

Timken Co. (The)

     233,157        16,115,812        0.3

 

19


DIMENSIONAL U.S. SMALL CAP ETF

CONTINUED

 

          Shares      Value†      Percentage of
Net Assets‡
 

INDUSTRIALS — (Continued)

        
  

UFP Industries, Inc.

     211,706      $ 20,148,060        0.4
  

Other Securities

        953,885,658        17.0
        

 

 

    

 

 

 

TOTAL INDUSTRIALS

        1,167,406,677        20.8
        

 

 

    

 

 

 

INFORMATION TECHNOLOGY — (10.8%)

        
  

Amkor Technology, Inc.

     560,306        11,687,983        0.2

*

  

Axcelis Technologies, Inc.

     100,074        12,759,435        0.2

*

  

Cirrus Logic, Inc.

     186,342        12,471,870        0.2

*

  

Fabrinet

     122,951        19,057,405        0.3

*

  

Insight Enterprises, Inc.

     107,733        15,438,139        0.3

*

  

Novanta, Inc.

     119,038        15,720,158        0.3

#*

  

Onto Innovation, Inc.

     174,342        19,590,811        0.4
  

Power Integrations, Inc.

     174,987        12,131,849        0.2

#*

  

Rambus, Inc.

     376,115        20,434,328        0.4

*

  

SPS Commerce, Inc.

     95,920        15,379,813        0.3
  

Other Securities

        504,387,060        8.9
        

 

 

    

 

 

 

TOTAL INFORMATION TECHNOLOGY

        659,058,851        11.7
        

 

 

    

 

 

 

MATERIALS — (5.7%)

        
  

Commercial Metals Co.

     390,567        16,517,078        0.3
  

Eagle Materials, Inc.

     86,602        13,328,914        0.2
  

Element Solutions, Inc.

     750,349        13,678,862        0.3
  

HB Fuller Co.

     195,040        12,901,896        0.2
  

Louisiana-Pacific Corp.

     240,593        12,337,609        0.2
  

Other Securities

        277,504,759        5.0
        

 

 

    

 

 

 

TOTAL MATERIALS

        346,269,118        6.2
        

 

 

    

 

 

 

REAL ESTATE — (0.6%)

        
  

Other Securities

        38,214,812        0.7
        

 

 

    

 

 

 

UTILITIES — (2.5%)

        
  

Other Securities

        152,158,210        2.7
        

 

 

    

 

 

 

TOTAL COMMON STOCKS

        5,603,011,127        99.8
        

 

 

    

 

 

 

PREFERRED STOCKS — (0.0%)

        

COMMUNICATION SERVICES — (0.0%)

        
  

Other Securities

        188,876        0.0
        

 

 

    

 

 

 

INDUSTRIALS — (0.0%)

        
  

Other Securities

        1,079,490        0.1
        

 

 

    

 

 

 

TOTAL PREFERRED STOCKS

        1,268,366        0.1
        

 

 

    

 

 

 

RIGHTS/WARRANTS — (0.0%)

        

CONSUMER DISCRETIONARY — (0.0%)

        
  

Other Securities

        —          0.0
        

 

 

    

 

 

 

ENERGY — (0.0%)

        
  

Other Securities

        176,425        0.0
        

 

 

    

 

 

 

HEALTH CARE — (0.0%)

        
  

Other Securities

        365,526        0.0
        

 

 

    

 

 

 

TOTAL RIGHTS/WARRANTS

        541,951        0.0
        

 

 

    

 

 

 

TOTAL INVESTMENT SECURITIES — (92.0%)

        
  

(Cost $4,693,203,744)

        5,604,821,444     
        

 

 

    

SECURITIES LENDING COLLATERAL — (8.0%)

        

  

The DFA Short Term Investment Fund

     42,413,906        490,601,860        8.7
        

 

 

    

 

 

 

TOTAL INVESTMENTS — (100.0%)

        
  

(Cost $5,183,805,604)

      $ 6,095,423,304        108.6
        

 

 

    

 

 

 

 

20


DIMENSIONAL U.S. SMALL CAP ETF

CONTINUED

 

Summary of the Fund’s investments as of October 31, 2023, 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

   $ 146,074,312      $ —        $ —        $ 146,074,312  

Consumer Discretionary

     793,201,903        —          —          793,201,903  

Consumer Staples

     236,084,993        —          —          236,084,993  

Energy

     430,339,106        —          —          430,339,106  

Financials

     1,060,871,456        76        —          1,060,871,532  

Health Care

     572,732,568        —          599,045        573,331,613  

Industrials

     1,167,406,677        —          —          1,167,406,677  

Information Technology

     659,058,851        —          —          659,058,851  

Materials

     346,269,118        —          —          346,269,118  

Real Estate

     38,214,812        —          —          38,214,812  

Utilities

     152,158,210        —          —          152,158,210  

Preferred Stocks

           

Communication Services

     188,876        —          —          188,876  

Industrials

     1,079,490        —          —          1,079,490  

Rights/Warrants

           

Consumer Discretionary

     —          —          —          —    

Energy

     —          176,425        —          176,425  

Health Care

     —          192,319        173,207        365,526  

Securities Lending Collateral

     —          490,601,860        —          490,601,860  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

   $ 5,603,680,372      $ 490,970,680      $ 772,252      $ 6,095,423,304  
  

 

 

    

 

 

    

 

 

    

 

 

 

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.

 

21


DIMENSIONAL U.S. TARGETED VALUE ETF

SUMMARY SCHEDULE OF INVESTMENTS

October 31, 2023

 

          Shares      Value†      Percentage of
Net Assets‡
 

COMMON STOCKS — (94.0%)

        

COMMUNICATION SERVICES — (2.8%)

        
  

News Corp., Class A

     1,330,983      $ 27,524,728        0.4
  

Other Securities

        205,278,616        2.6
        

 

 

    

 

 

 

TOTAL COMMUNICATION SERVICES

        232,803,344        3.0
        

 

 

    

 

 

 

CONSUMER DISCRETIONARY — (15.0%)

        
  

American Eagle Outfitters, Inc.

     1,423,849        24,874,642        0.3
  

BorgWarner, Inc.

     1,122,448        41,418,331        0.5

#

  

Dillard’s, Inc., Class A

     86,482        26,848,337        0.4

#*

  

Goodyear Tire & Rubber Co. (The)

     2,204,098        26,228,766        0.3
  

Group 1 Automotive, Inc.

     114,046        28,777,227        0.4

#

  

Lithia Motors, Inc.

     134,634        32,609,701        0.4

#

  

Penske Automotive Group, Inc.

     365,602        52,310,334        0.7
  

PulteGroup, Inc.

     510,336        37,555,626        0.5
  

PVH Corp.

     362,135        26,924,737        0.4

*

  

Taylor Morrison Home Corp.

     832,802        31,912,973        0.4
  

Toll Brothers, Inc.

     678,748        47,994,271        0.6

*

  

Urban Outfitters, Inc.

     713,240        24,692,369        0.3
  

Other Securities

        843,601,210        10.8
        

 

 

    

 

 

 

TOTAL CONSUMER DISCRETIONARY

        1,245,748,524        16.0
        

 

 

    

 

 

 

CONSUMER STAPLES — (4.2%)

        

*

  

Hostess Brands, Inc.

     901,351        30,105,123        0.4

#*

  

Post Holdings, Inc.

     336,300        26,998,164        0.4
  

Other Securities

        287,508,028        3.6
        

 

 

    

 

 

 

TOTAL CONSUMER STAPLES

        344,611,315        4.4
        

 

 

    

 

 

 

ENERGY — (10.3%)

        

#*

  

CNX Resources Corp.

     1,290,590        28,031,615        0.4
  

CONSOL Energy, Inc.

     262,244        24,097,601        0.3
  

HF Sinclair Corp.

     957,358        53,018,486        0.7
  

Murphy Oil Corp.

     816,152        36,620,740        0.5
  

PBF Energy, Inc., Class A

     904,872        43,008,566        0.6

#

  

Peabody Energy Corp.

     1,047,153        24,702,339        0.3
  

Scorpio Tankers, Inc.

     448,816        25,201,018        0.3
  

TechnipFMC PLC

     1,837,414        39,541,149        0.5

#*

  

Transocean, Ltd.

     4,958,851        32,827,594        0.4
  

Other Securities

        549,043,722        7.0
        

 

 

    

 

 

 

TOTAL ENERGY

        856,092,830        11.0
        

 

 

    

 

 

 

FINANCIALS — (24.3%)

        
  

American Equity Investment Life Holding Co.

     490,947        26,000,553        0.3
  

Assured Guaranty, Ltd.

     519,053        32,388,907        0.4
  

Axis Capital Holdings, Ltd.

     522,474        29,833,265        0.4

#

  

Bank OZK

     751,986        26,928,619        0.4
  

Invesco, Ltd.

     2,127,405        27,592,443        0.4
  

New York Community BanCorp, Inc.

     3,471,063        32,905,677        0.4
  

Old Republic International Corp.

     1,325,385        36,289,041        0.5
  

Popular, Inc.

     460,923        29,978,432        0.4
  

Prosperity Bancshares, Inc.

     492,699        26,871,803        0.4
  

SouthState Corp.

     382,246        25,266,461        0.3

#

  

Unum Group

     705,320        34,490,148        0.5
  

Webster Financial Corp.

     665,155        25,255,935        0.3
  

Other Securities

        1,659,740,393        21.2
        

 

 

    

 

 

 

TOTAL FINANCIALS

        2,013,541,677        25.9
        

 

 

    

 

 

 

 

22


DIMENSIONAL U.S. TARGETED VALUE ETF

CONTINUED

 

          Shares      Value†      Percentage of
Net Assets‡
 

HEALTH CARE — (5.0%)

        
  

Other Securities

      $ 417,904,431        5.4

INDUSTRIALS — (16.8%)

        
  

AGCO Corp.

     390,167        44,736,548        0.6
  

Arcosa, Inc.

     367,686        25,396,072        0.3

*

  

Beacon Roofing Supply, Inc.

     418,352        29,774,112        0.4
  

Boise Cascade Co.

     256,444        24,041,625        0.3
  

Knight-Swift Transportation Holdings, Inc.

     943,166        46,111,386        0.6

#

  

Owens Corning

     370,331        41,984,425        0.5
  

UFP Industries, Inc.

     298,070        28,367,322        0.4
  

WESCO International, Inc.

     250,057        32,057,307        0.4
  

Other Securities

        1,115,018,361        14.3
        

 

 

    

 

 

 

TOTAL INDUSTRIALS

        1,387,487,158        17.8
        

 

 

    

 

 

 

INFORMATION TECHNOLOGY — (7.4%)

        

*

  

Arrow Electronics, Inc.

     460,745        52,253,090        0.7
  

Avnet, Inc.

     682,019        31,597,940        0.4
  

TD SYNNEX Corp.

     341,595        31,317,430        0.4
  

Other Securities

        493,558,529        6.3
        

 

 

    

 

 

 

TOTAL INFORMATION TECHNOLOGY

        608,726,989        7.8
        

 

 

    

 

 

 

MATERIALS — (6.8%)

        
  

Commercial Metals Co.

     781,019        33,029,294        0.4
  

Huntsman Corp.

     1,182,267        27,582,289        0.4

#

  

United States Steel Corp.

     1,201,986        40,735,306        0.5
  

Other Securities

        461,841,877        5.9
        

 

 

    

 

 

 

TOTAL MATERIALS

        563,188,766        7.2
        

 

 

    

 

 

 

REAL ESTATE — (1.0%)

        
  

Other Securities

        78,449,593        1.0
        

 

 

    

 

 

 

UTILITIES — (0.4%)

        
  

Other Securities

        32,664,647        0.4
        

 

 

    

 

 

 

TOTAL COMMON STOCKS

        7,781,219,274        99.9
        

 

 

    

 

 

 

PREFERRED STOCKS — (0.0%)

        

COMMUNICATION SERVICES — (0.0%)

        
  

Other Securities

        206,133        0.0
        

 

 

    

 

 

 

INDUSTRIALS — (0.0%)

        
  

Other Securities

        1,750,069        0.0
        

 

 

    

 

 

 

TOTAL PREFERRED STOCKS

        1,956,202        0.0
        

 

 

    

 

 

 

RIGHTS/WARRANTS — (0.0%)

        

CONSUMER DISCRETIONARY — (0.0%)

        
  

Other Securities

        —          0.0
        

 

 

    

 

 

 

HEALTH CARE — (0.0%)

        
  

Other Securities

        29,681        0.0
        

 

 

    

 

 

 

TOTAL RIGHTS/WARRANTS

        29,681        0.0
        

 

 

    

 

 

 

TOTAL INVESTMENT SECURITIES — (94.0%)

        
  

(Cost $6,681,606,601)

        7,783,205,157     
        

 

 

    

SECURITIES LENDING COLLATERAL — (6.0%)

        

  

The DFA Short Term Investment Fund

     42,943,264        496,724,945        6.4
        

 

 

    

 

 

 

TOTAL INVESTMENTS — (100.0%)

        
  

(Cost $7,178,331,546)

      $ 8,279,930,102        106.3
        

 

 

    

 

 

 

 

23


DIMENSIONAL U.S. TARGETED VALUE ETF

CONTINUED

 

Summary of the Fund’s investments as of October 31, 2023, 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

   $ 232,803,344      $ —        $ —        $ 232,803,344  

Consumer Discretionary

     1,245,748,524        —          —          1,245,748,524  

Consumer Staples

     344,611,315        —          —          344,611,315  

Energy

     856,092,830        —          —          856,092,830  

Financials

     2,013,541,216        461        —          2,013,541,677  

Health Care

     417,037,839        —          866,592        417,904,431  

Industrials

     1,387,487,158        —          —          1,387,487,158  

Information Technology

     608,726,989        —          —          608,726,989  

Materials

     563,188,766        —          —          563,188,766  

Real Estate

     78,449,593        —          —          78,449,593  

Utilities

     32,664,647        —          —          32,664,647  

Preferred Stocks

           

Communication Services

     206,133        —          —          206,133  

Industrials

     1,750,069        —          —          1,750,069  

Rights/Warrants

           

Consumer Discretionary

     —          —          —          —    

Health Care

     —          2,781        26,900        29,681  

Securities Lending Collateral

     —          496,724,945        —          496,724,945  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

   $ 7,782,308,423      $ 496,728,187      $ 893,492      $ 8,279,930,102  
  

 

 

    

 

 

    

 

 

    

 

 

 

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.

 

24


DIMENSIONAL U.S. CORE EQUITY 2 ETF

SUMMARY SCHEDULE OF INVESTMENTS

October 31, 2023

 

         Shares      Value†      Percentage of
Net Assets‡
 

COMMON STOCKS — (96.0%)

        

COMMUNICATION SERVICES — (6.3%)

        

*

  Alphabet, Inc., Class A      1,698,312      $ 210,726,553        1.1

*

  Alphabet, Inc., Class C      1,467,733        183,906,945        0.9
  Comcast Corp., Class A      2,269,270        93,698,158        0.5

*

  Meta Platforms, Inc., Class A      992,376        298,973,117        1.5
  Verizon Communications, Inc.      2,295,970        80,657,426        0.4
  Other Securities         472,313,558        2.2
       

 

 

    

 

 

 

TOTAL COMMUNICATION SERVICES

        1,340,275,757        6.6
       

 

 

    

 

 

 

CONSUMER DISCRETIONARY — (9.8%)

        

*

  Amazon.com, Inc.      2,355,840        313,538,746        1.5
  Home Depot, Inc. (The)      425,318        121,083,781        0.6

*

  Tesla, Inc.      476,192        95,638,401        0.5
  Other Securities         1,556,059,135        7.6
       

 

 

    

 

 

 

TOTAL CONSUMER DISCRETIONARY

        2,086,320,063        10.2
       

 

 

    

 

 

 

CONSUMER STAPLES — (6.0%)

        
  Coca-Cola Co. (The)      1,681,867        95,008,667        0.5
  Costco Wholesale Corp.      140,850        77,811,174        0.4
  PepsiCo, Inc.      735,304        120,060,437        0.6
  Procter & Gamble Co. (The)      1,042,670        156,431,780        0.8
  Walmart, Inc.      559,586        91,441,948        0.5
  Other Securities         735,722,325        3.4
       

 

 

    

 

 

 

TOTAL CONSUMER STAPLES

        1,276,476,331        6.2
       

 

 

    

 

 

 

ENERGY — (7.1%)

        
  Chevron Corp.      893,480        130,206,840        0.6
  ConocoPhillips      798,874        94,906,231        0.5
  Exxon Mobil Corp.      2,291,871        242,594,545        1.2
  Other Securities         1,032,540,202        5.0
       

 

 

    

 

 

 

TOTAL ENERGY

        1,500,247,818        7.3
       

 

 

    

 

 

 

FINANCIALS — (14.4%)

        
  American Express Co.      423,841        61,893,501        0.3
  Bank of America Corp.      2,557,783        67,372,004        0.3

*

  Berkshire Hathaway, Inc., Class B      583,974        199,327,845        1.0
  JPMorgan Chase & Co.      1,302,151        181,077,118        0.9
  Mastercard, Inc., Class A      381,975        143,756,291        0.7

#

  Visa, Inc., Class A      705,744        165,920,414        0.8
  Other Securities         2,255,620,858        11.0
       

 

 

    

 

 

 

TOTAL FINANCIALS

        3,074,968,031        15.0
       

 

 

    

 

 

 

HEALTH CARE — (11.7%)

        
  AbbVie, Inc.      783,371        110,596,318        0.6
  Amgen, Inc.      217,768        55,683,278        0.3
  Bristol-Myers Squibb Co.      1,217,308        62,727,881        0.3
  Eli Lilly & Co.      354,489        196,362,092        1.0
  Gilead Sciences, Inc.      706,597        55,496,128        0.3
  Johnson & Johnson      1,257,073        186,474,243        0.9
  Merck & Co., Inc.      662,983        68,088,354        0.3
  Pfizer, Inc.      2,556,443        78,124,898        0.4
  Thermo Fisher Scientific, Inc.      134,278        59,722,826        0.3
  UnitedHealth Group, Inc.      327,189        175,229,341        0.9
  Other Securities         1,440,940,959        6.9
       

 

 

    

 

 

 

TOTAL HEALTH CARE

        2,489,446,318        12.2
       

 

 

    

 

 

 

 

25


DIMENSIONAL U.S. CORE EQUITY 2 ETF

CONTINUED

 

         Shares      Value†      Percentage of
Net Assets‡
 

INDUSTRIALS — (13.0%)

        
  Caterpillar, Inc.      301,383      $ 68,127,627        0.3
  Deere & Co.      158,589        57,942,077        0.3
  Honeywell International, Inc.      317,854        58,249,924        0.3
  Union Pacific Corp.      395,391        82,087,126        0.4
  United Parcel Service, Inc., Class B      404,400        57,121,500        0.3
  Other Securities         2,450,972,180        12.0
       

 

 

    

 

 

 

TOTAL INDUSTRIALS

        2,774,500,434        13.6
       

 

 

    

 

 

 

INFORMATION TECHNOLOGY — (21.4%)

        
  Accenture PLC, Class A      319,179        94,824,889        0.5

*

  Adobe, Inc.      177,159        94,259,218        0.5
  Apple, Inc.      6,006,779        1,025,777,650        5.0
  Broadcom, Inc.      218,387        183,744,270        0.9
  Cisco Systems, Inc.      1,683,433        87,757,362        0.4
  Intel Corp.      1,688,313        61,623,424        0.3
  International Business Machines Corp.      514,839        74,466,313        0.4
  Microsoft Corp.      3,125,543        1,056,776,494        5.2
  NVIDIA Corp.      425,630        173,571,914        0.9
  Oracle Corp.      695,800        71,945,720        0.4
  QUALCOMM, Inc.      600,754        65,476,178        0.3
  Texas Instruments, Inc.      427,124        60,655,879        0.3
  Other Securities         1,496,159,020        7.1
       

 

 

    

 

 

 

TOTAL INFORMATION TECHNOLOGY

        4,547,038,331        22.2
       

 

 

    

 

 

 

MATERIALS — (4.2%)

        
  Linde PLC      170,759        65,257,259        0.3
  Other Securities         820,609,864        4.0
       

 

 

    

 

 

 

TOTAL MATERIALS

        885,867,123        4.3
       

 

 

    

 

 

 

REAL ESTATE — (0.3%)

        
  Other Securities         71,182,564        0.3
       

 

 

    

 

 

 

UTILITIES — (1.8%)

        
  Other Securities         390,098,397        1.9
       

 

 

    

 

 

 

TOTAL COMMON STOCKS

        20,436,421,167        99.8
       

 

 

    

 

 

 

PREFERRED STOCKS — (0.0%)

        

COMMUNICATION SERVICES — (0.0%)

        
  Other Securities         204,876        0.0
       

 

 

    

 

 

 

INDUSTRIALS — (0.0%)

        
  Other Securities         696,093        0.0
       

 

 

    

 

 

 

TOTAL PREFERRED STOCKS

        900,969        0.0
       

 

 

    

 

 

 

RIGHTS/WARRANTS — (0.0%)

        

ENERGY — (0.0%)

        
  Other Securities         102,242        0.0
       

 

 

    

 

 

 

HEALTH CARE — (0.0%)

        
  Other Securities         302,937        0.0
       

 

 

    

 

 

 

INDUSTRIALS — (0.0%)

        
  Other Securities         3,972        0.0
       

 

 

    

 

 

 

TOTAL RIGHTS/WARRANTS

        409,151        0.0
       

 

 

    

 

 

 

TOTAL INVESTMENT SECURITIES — (96.0%)

        
  (Cost $14,144,281,084)         20,437,731,287     
       

 

 

    

SECURITIES LENDING COLLATERAL — (4.0%)

        

  The DFA Short Term Investment Fund      74,178,355        858,021,384        4.2
       

 

 

    

 

 

 

TOTAL INVESTMENTS — (100.0%)

        
  (Cost $15,002,302,468)       $ 21,295,752,671        104.0
       

 

 

    

 

 

 

 

26


DIMENSIONAL U.S. CORE EQUITY 2 ETF

CONTINUED

 

Summary of the Fund’s investments as of October 31, 2023, 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

   $ 1,340,275,757      $ —        $ —        $ 1,340,275,757  

Consumer Discretionary

     2,086,320,063        —          —          2,086,320,063  

Consumer Staples

     1,276,476,331        —          —          1,276,476,331  

Energy

     1,500,247,818        —          —          1,500,247,818  

Financials

     3,074,968,031        —          —          3,074,968,031  

Health Care

     2,489,170,321        —          275,997        2,489,446,318  

Industrials

     2,774,500,434        —          —          2,774,500,434  

Information Technology

     4,547,038,331        —          —          4,547,038,331  

Materials

     885,867,123        —          —          885,867,123  

Real Estate

     71,182,564        —          —          71,182,564  

Utilities

     390,098,397        —          —          390,098,397  

Preferred Stocks

           

Communication Services

     204,876        —          —          204,876  

Industrials

     696,093        —          —          696,093  

Rights/Warrants

           

Energy

     —          102,242        —          102,242  

Health Care

     —          201,482        101,455        302,937  

Industrials

     —          3,972        —          3,972  

Securities Lending Collateral

     —          858,021,384        —          858,021,384  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

   $ 20,437,046,139      $ 858,329,080      $ 377,452      $ 21,295,752,671  
  

 

 

    

 

 

    

 

 

    

 

 

 

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.

 

27


DIMENSIONAL US MARKETWIDE VALUE ETF

SUMMARY SCHEDULE OF INVESTMENTS    

October 31, 2023

 

         Shares      Value†      Percentage of
Net Assets‡
 

COMMON STOCKS — (97.5%)

        

COMMUNICATION SERVICES — (8.3%)

        
  AT&T, Inc.      5,343,359      $ 82,287,729        1.0
  Comcast Corp., Class A      4,100,967        169,328,927        2.1

*

  Meta Platforms, Inc., Class A      387,927        116,870,767        1.4

*

  T-Mobile US, Inc.      423,829        60,972,040        0.7
  Verizon Communications, Inc.      2,773,616        97,437,130        1.2

*

  Walt Disney Co. (The)      677,077        55,242,712        0.7
  Other Securities         120,596,992        1.4
       

 

 

    

 

 

 

TOTAL COMMUNICATION SERVICES

        702,736,297        8.5
       

 

 

    

 

 

 

CONSUMER DISCRETIONARY — (6.0%)

        
  DR Horton, Inc.      304,876        31,829,054        0.4
  General Motors Co.      1,162,062        32,770,148        0.4
  Other Securities         442,805,289        5.4
       

 

 

    

 

 

 

TOTAL CONSUMER DISCRETIONARY

        507,404,491        6.2
       

 

 

    

 

 

 

CONSUMER STAPLES — (4.2%)

        
  Mondelez International, Inc., Class A      1,110,502        73,526,338        0.9
  Other Securities         281,547,740        3.4
       

 

 

    

 

 

 

TOTAL CONSUMER STAPLES

        355,074,078        4.3
       

 

 

    

 

 

 

ENERGY — (14.6%)

        
  Chevron Corp.      1,431,018        208,542,253        2.5
  ConocoPhillips      1,182,197        140,445,004        1.7
  EOG Resources, Inc.      320,860        40,508,575        0.5

#

  Exxon Mobil Corp.      3,154,339        333,886,783        4.1
  Marathon Petroleum Corp.      545,901        82,567,526        1.0
  Phillips 66      577,475        65,872,573        0.8
  Pioneer Natural Resources Co.      147,374        35,222,386        0.4
  Valero Energy Corp.      475,593        60,400,311        0.7
  Other Securities         268,205,185        3.3
       

 

 

    

 

 

 

TOTAL ENERGY

        1,235,650,596        15.0
       

 

 

    

 

 

 

FINANCIALS — (21.6%)

        
  American International Group, Inc.      500,843        30,706,684        0.4
  Bank of America Corp.      4,560,556        120,125,045        1.5

*

  Berkshire Hathaway, Inc., Class B      660,731        225,527,312        2.7
  Capital One Financial Corp.      339,173        34,354,833        0.4
  Chubb, Ltd.      185,806        39,877,684        0.5
  Citigroup, Inc.      1,270,721        50,180,772        0.6

#

  Goldman Sachs Group, Inc. (The)      207,114        62,881,882        0.8

#

  JPMorgan Chase & Co.      2,052,331        285,397,149        3.5
  Morgan Stanley      912,191        64,601,367        0.8
  Wells Fargo & Co.      1,808,468        71,922,772        0.9
  Other Securities         839,288,374        10.0
       

 

 

    

 

 

 

TOTAL FINANCIALS

        1,824,863,874        22.1
       

 

 

    

 

 

 

HEALTH CARE — (13.3%)

        
  Bristol-Myers Squibb Co.      885,302        45,619,612        0.6
  Cigna Group (The)      292,870        90,555,404        1.1
  CVS Health Corp.      1,309,023        90,335,677        1.1
  Danaher Corp.      380,283        73,021,942        0.9
  Elevance Health, Inc.      231,018        103,978,892        1.3
  Humana, Inc.      83,063        43,499,262        0.5
  Medtronic PLC      832,140        58,715,798        0.7
  Pfizer, Inc.      4,322,143        132,084,690        1.6

 

28


DIMENSIONAL US MARKETWIDE VALUE ETF

CONTINUED

 

         Shares      Value†      Percentage of
Net Assets‡
 

HEALTH CARE — (Continued)

        

*

  Regeneron Pharmaceuticals, Inc.      51,641      $ 40,274,299        0.5
  Thermo Fisher Scientific, Inc.      207,720        92,387,624        1.1
  Other Securities         348,970,574        4.2
       

 

 

    

 

 

 

TOTAL HEALTH CARE

        1,119,443,774        13.6
       

 

 

    

 

 

 

INDUSTRIALS — (14.3%)

        
  Eaton Corp. PLC      182,880        38,022,581        0.5
  FedEx Corp.      201,327        48,338,613        0.6
  General Dynamics Corp.      130,012        31,373,196        0.4
  General Electric Co.      478,884        52,021,169        0.6
  Norfolk Southern Corp.      318,102        60,690,681        0.7

#

  RTX Corp.      522,057        42,490,219        0.5
  Other Securities         929,999,759        11.3
       

 

 

    

 

 

 

TOTAL INDUSTRIALS

        1,202,936,218        14.6
       

 

 

    

 

 

 

INFORMATION TECHNOLOGY — (8.4%)

        

*

  Advanced Micro Devices, Inc.      552,155        54,387,267        0.7
  Analog Devices, Inc.      270,291        42,524,883        0.5
  Intel Corp.      2,901,590        105,908,035        1.3
  Micron Technology, Inc.      617,951        41,322,383        0.5

*

  Salesforce, Inc.      304,489        61,150,526        0.8
  Other Securities         403,142,607        4.8
       

 

 

    

 

 

 

TOTAL INFORMATION TECHNOLOGY

        708,435,701        8.6
       

 

 

    

 

 

 

MATERIALS — (6.2%)

        
  Linde PLC      171,797        65,653,942        0.8
  Nucor Corp.      226,464        33,469,115        0.4
  Other Securities         425,376,682        5.2
       

 

 

    

 

 

 

TOTAL MATERIALS

        524,499,739        6.4
       

 

 

    

 

 

 

REAL ESTATE — (0.3%)

        
  Other Securities         26,455,946        0.3
       

 

 

    

 

 

 

UTILITIES — (0.3%)

        
  Other Securities         21,182,637        0.3
       

 

 

    

 

 

 

TOTAL COMMON STOCKS

        8,228,683,351        99.9
       

 

 

    

 

 

 

PREFERRED STOCK — (0.0%)

        

INDUSTRIALS — (0.0%)

        
  Other Securities         301,631        0.0
       

 

 

    

 

 

 

TOTAL PREFERRED STOCK

        301,631        0.0
       

 

 

    

 

 

 

RIGHTS/WARRANTS — (0.0%)

        

HEALTH CARE — (0.0%)

        
  Other Securities         —          0.0
       

 

 

    

 

 

 

TOTAL RIGHTS/WARRANTS

        —          0.0
       

 

 

    

 

 

 

TOTAL INVESTMENT SECURITIES — (97.5%)

        
  (Cost $5,756,648,669)         8,228,984,982     
       

 

 

    

SECURITIES LENDING COLLATERAL — (2.5%)

        

  The DFA Short Term Investment Fund      18,456,799        213,489,886        2.6
       

 

 

    

 

 

 

TOTAL INVESTMENTS — (100.0%)

        
  (Cost $5,970,138,555)       $ 8,442,474,868        102.5
       

 

 

    

 

 

 

 

29


DIMENSIONAL US MARKETWIDE VALUE ETF

CONTINUED

 

Summary of the Fund’s investments as of October 31, 2023, 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

   $ 702,736,297      $ —        $ —        $ 702,736,297  

Consumer Discretionary

     507,404,491        —          —          507,404,491  

Consumer Staples

     355,074,078        —          —          355,074,078  

Energy

     1,235,650,596        —          —          1,235,650,596  

Financials

     1,824,863,874        —          —          1,824,863,874  

Health Care

     1,119,443,774        —          —          1,119,443,774  

Industrials

     1,202,936,218        —          —          1,202,936,218  

Information Technology

     708,435,701        —          —          708,435,701  

Materials

     524,499,739        —          —          524,499,739  

Real Estate

     26,455,946        —          —          26,455,946  

Utilities

     21,182,637        —          —          21,182,637  

Preferred Stock

           

Industrials

     301,631        —          —          301,631  

Rights/Warrants

           

Health Care

     —          —          —          —    

Securities Lending Collateral

     —          213,489,886        —          213,489,886  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

   $ 8,228,984,982      $ 213,489,886      $ —        $ 8,442,474,868  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

See accompanying Notes to Financial Statements.

 

30


DIMENSIONAL INTERNATIONAL VALUE ETF

SUMMARY SCHEDULE OF INVESTMENTS

October 31, 2023

 

         Shares      Value†      Percentage of
Net Assets‡
 

COMMON STOCKS — (97.8%)

        

AUSTRALIA — (6.3%)

        
  ANZ Group Holdings, Ltd.      2,046,023      $ 32,010,402        0.6
  National Australia Bank, Ltd.      2,579,534        45,812,289        0.8
  Santos, Ltd.      6,475,521        31,446,908        0.6
  Westpac Banking Corp.      2,486,818        32,435,387        0.6
  Woodside Energy Group, Ltd.      1,862,470        40,400,293        0.7
  Other Securities         168,624,202        3.0
       

 

 

    

 

 

 

TOTAL AUSTRALIA

        350,729,481        6.3
       

 

 

    

 

 

 

AUSTRIA — (0.2%)

        
  Other Securities         9,132,491        0.2
       

 

 

    

 

 

 

BELGIUM — (0.6%)

        
  Other Securities         34,737,702        0.6
       

 

 

    

 

 

 

CANADA — (9.5%)

        

#

  Agnico Eagle Mines, Ltd.      610,402        28,633,958        0.5
  Bank of Montreal      485,800        36,702,190        0.7
  Bank of Nova Scotia (The)      1,109,858        44,915,953        0.8
  Fairfax Financial Holdings, Ltd.      35,874        29,821,482        0.5

#

  Manulife Financial Corp.      1,772,584        30,878,413        0.6
  Nutrien, Ltd.      583,577        31,338,085        0.6
  Suncor Energy, Inc.      1,171,083        37,943,089        0.7
  Teck Resources, Ltd., Class B      1,009,670        35,681,738        0.6
  Other Securities         253,533,979        4.6
       

 

 

    

 

 

 

TOTAL CANADA

        529,448,887        9.6
       

 

 

    

 

 

 

DENMARK — (2.6%)

        
  Other Securities         145,701,010        2.6
       

 

 

    

 

 

 

FINLAND — (0.9%)

        
  Other Securities         47,975,502        0.9
       

 

 

    

 

 

 

FRANCE — (11.3%)

        
  AXA SA      1,117,180        33,011,053        0.6
  BNP Paribas SA      658,533        37,789,758        0.7
  Cie de Saint-Gobain SA      967,745        52,577,603        1.0
  Cie Generale des Etablissements Michelin SCA      1,364,857        40,423,323        0.8
  Engie SA      1,848,046        29,308,700        0.5
  Orange SA      3,739,995        43,919,947        0.8
  Sanofi SA      441,000        39,948,101        0.7
  TotalEnergies SE      3,164,825        211,418,753        3.8
  Other Securities         143,619,151        2.5
       

 

 

    

 

 

 

TOTAL FRANCE

        632,016,389        11.4
       

 

 

    

 

 

 

GERMANY — (6.2%)

        
  BASF SE      624,677        28,745,561        0.5
  Bayer AG, Registered      1,116,637        47,990,593        0.8
  Bayerische Motoren Werke AG      419,716        38,876,313        0.7
  Mercedes-Benz Group AG      1,131,342        66,285,039        1.2
  Other Securities         166,144,091        3.1
       

 

 

    

 

 

 

TOTAL GERMANY

        348,041,597        6.3
       

 

 

    

 

 

 

HONG KONG — (1.6%)

        
  Other Securities         91,121,212        1.6
       

 

 

    

 

 

 

IRELAND — (0.3%)

        
  Other Securities         17,193,914        0.3
       

 

 

    

 

 

 

 

31


DIMENSIONAL INTERNATIONAL VALUE ETF

CONTINUED

 

<
         Shares      Value†      Percentage of
Net Assets‡
 

ISRAEL — (0.5%)

        
  Other Securities       $ 27,294,367        0.5

ITALY — (2.5%)

        
  Stellantis NV      1,733,007        32,372,571        0.6
  UniCredit SpA      1,844,194        46,052,706        0.8
  Other Securities         63,306,942        1.2
       

 

 

    

 

 

 

TOTAL ITALY

        141,732,219        2.6
       

 

 

    

 

 

 

JAPAN — (21.1%)

        
  Honda Motor Co., Ltd.      3,075,864        30,597,175        0.6
  Mitsubishi Corp.      1,120,500        51,458,137        0.9
  Mitsubishi UFJ Financial Group, Inc.      4,945,134        41,044,824        0.7
  Sumitomo Mitsui Financial Group, Inc.      619,427        29,530,608        0.5
  Takeda Pharmaceutical Co., Ltd.      1,349,094        36,193,793        0.7
  Toyota Motor Corp.      3,705,940        63,378,683        1.1
  Other Securities         929,562,657        16.8
       

 

 

    

 

 

 

TOTAL JAPAN

        1,181,765,877        21.3
       

 

 

    

 

 

 

NETHERLANDS — (3.5%)

        
  ING Groep NV      2,272,198        28,887,923        0.5
  Koninklijke Ahold Delhaize NV      1,750,551        51,809,515        0.9
  Other Securities         113,385,894        2.1
       

 

 

    

 

 

 

TOTAL NETHERLANDS

        194,083,332        3.5
       

 

 

    

 

 

 

NEW ZEALAND — (0.2%)

        
  Other Securities         11,474,378        0.2
       

 

 

    

 

 

 

NORWAY — (1.0%)

        
  Other Securities         55,971,735        1.0
       

 

 

    

 

 

 

PORTUGAL — (0.1%)

        
  Other Securities         5,886,169        0.1
       

 

 

    

 

 

 

SINGAPORE — (1.2%)

        
  Other Securities         66,633,851        1.2
       

 

 

    

 

 

 

SPAIN — (2.5%)

        
  Banco Santander SA      12,015,119        44,018,310        0.8
  Repsol SA      2,213,525        32,346,426        0.6
  Other Securities         66,031,179        1.2
       

 

 

    

 

 

 

TOTAL SPAIN

        142,395,915        2.6
       

 

 

    

 

 

 

SWEDEN — (2.5%)

        
  Other Securities         140,220,870        2.5
       

 

 

    

 

 

 

SWITZERLAND — (9.5%)

        
  Cie Financiere Richemont SA, Registered      366,359        43,034,753        0.8
  Holcim AG      537,247        33,106,765        0.6
  Novartis AG, Sponsored ADR      1,040,186        97,340,606        1.8
  Novartis AG, Registered      352,320        32,729,117        0.6
  UBS Group AG      1,583,959        36,933,806        0.7
  Zurich Insurance Group AG      164,757        77,956,556        1.4
  Other Securities         209,065,739        3.7
       

 

 

    

 

 

 

TOTAL SWITZERLAND

        530,167,342        9.6
       

 

 

    

 

 

 

UNITED KINGDOM — (13.7%)