Dimensional ETF Trust

LOGO

Annual Report

Year Ended: October 31, 2022

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

Shareholder Letter

LOGO

December 2022

Dear Shareholder,

For more than four decades, Dimensional has been innovating on behalf of investors, using financial science to pursue higher expected returns across a range of market conditions.

We start with what clients are seeking and determine how best to deliver strategies to meet those needs through a systematic approach designed to add value over indexing. Every day, we manage our strategies through a flexible process that allows us to consistently focus on reducing costs and controlling risks. We believe in sensible ideas that we can implement well. And we’re committed to continuing to enhance the investment solutions and services we provide to empower financial professionals. We start with what clients are seeking and determine how best to deliver strategies to meet those needs through a systematic approach designed to add value over indexing. Every day, we manage our strategies through a flexible process that allows us to consistently focus on reducing costs and controlling risks. We believe in sensible ideas that we can implement well. And we’re committed to continuing to enhance the investment solutions and services we provide to empower financial professionals.

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

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 Expenses			12
Disclosure of Portfolio Holdings			14
Summary Schedules of Portfolio Holdings			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			54
Report of Independent Registered Public Accounting Firm			69
Fund Management			70
Voting Proxies on Fund Portfolio Securities			82

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

#		Total or Partial Securities on Loan

*		Non-Income Producing Securities

@		Security purchased with cash collateral received from Securities on Loan

§		Affiliated Fund

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

DIMENSIONAL ETF TRUST

PERFORMANCE CHARTS

(Unaudited)

Dimensional U.S. Equity ETF vs.

Russell 3000^® Index

October 31, 2012-October 31, 2022


				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. FTSERussell data ^© FTSERussell 2022, all rights reserved.
Average Annual Total Return	One Year	Five Years	Ten Years
Fund Net Asset Value	-15.30%	10.17%	12.62%
Fund Market Price	-15.19%	10.19%	12.63%

Dimensional U.S. Small Cap ETF vs.

Russell 2000^® Index

October 31, 2012-October 31, 2022


				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. FTSERussell data ^© FTSERussell 2022, all rights reserved.
Average Annual Total Return	One Year	Five Years	Ten Years
Fund Net Asset Value	-10.58%	6.31%	10.69%
Fund Market Price	-10.55%	6.34%	10.71%

DIMENSIONAL ETF TRUST

PERFORMANCE CHARTS

(Unaudited)

Dimensional U.S. Targeted Value ETF vs.

Russell 2000^® Value Index

October 31, 2012-October 31, 2022


				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. FTSERussell data ^© FTSERussell 2022, all rights reserved.
Average Annual Total Return	One Year	Five Years	Ten Years
Fund Net Asset Value	-3.07%	6.62%	10.88%
Fund Market Price	-3.05%	6.64%	10.90%

Dimensional U.S. Core Equity 2 ETF vs.

Russell 3000^® Index

October 31, 2012-October 31, 2022


				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. FTSERussell data ^© FTSERussell 2022, all rights reserved.
Average Annual Total Return	One Year	Five Years	Ten Years
Fund Net Asset Value	-11.95%	9.06%	11.94%
Fund Market Price	-12.01%	9.07%	11.95%

DIMENSIONAL ETF TRUST

PERFORMANCE CHARTS

(Unaudited)

Dimensional U.S. Marketwide Value ETF (NAV) vs.

Russell 3000 Value Index

October 31, 2012-October 31, 2022


				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. FTSERussell data ^© FTSERussell 2022, all rights reserved.
Average Annual Total Return	One Year	Five Years	Ten Years
Fund Net Asset Value	-6.28%	7.25%	11.15%
Fund Market Price	-6.29%	7.25%	11.15%

Dimensional International Value ETF vs.

MSCI World ex USA Index (net dividends),

MSCI World ex USA Value Index (net dividends)

October 31, 2012-October 31, 2022


				As of February 28, 2022, the Portfolio changed its benchmark from the MSCI World ex USA Index (net dividends) to the MSCI World ex USA Value Index (net dividends) because this index better reflects the universe of securities in which the ETF invests. 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. MSCI data ^© MSCI 2022, all rights reserved.
Average Annual Total Return	One Year	Five Years	Ten Years
Fund Net Asset Value	-13.97%	-0.09%	4.00%
Fund Market Price	-14.08%	-0.05%	4.02%

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, 2012-October 31, 2022


				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. MSCI data ^© MSCI 2022, all rights reserved.
Average Annual Total Return	One Year	Five Years	Ten Years
Fund Net Asset Value	-22.87%	-0.65%	4.01%
Fund Market Price	-22.69%	-0.61%	4.03%

DIMENSIONAL ETF TRUST

MANAGEMENT’S DISCUSSION AND ANALYSIS


U.S. Equity Market Review		12 Months Ended October 31, 2022

U.S. equities had negative returns for the period. The broad U.S. equity market, as measured by the Russell 3000^® Index, lost approximately -16.52%. As measured by Russell indices, small-cap stocks underperformed large-cap stocks, and mid-cap stocks, a subset of the large-cap universe, underperformed large-cap stocks but outperformed small-cap stocks. Value stocks outperformed growth stocks as measured by the Russell indices.


Total Return for 12 Months Ended October 31, 2022

Russell 3000^® Index	-16.52	%
Russell 1000^® Index (large-cap stocks)	-16.38	%
Russell Midcap^® Index (mid-cap stocks)	-17.17	%
Russell 2000^® Index (small-cap stocks)	-18.54	%
Russell Microcap^® Index (micro-cap stocks)	-22.29	%
Dow Jones U.S. Select REIT Index^SM	-19.97	%


Total Return for 12 Months Ended October 31, 2022

Russell 1000^® Value Index (large-cap value stocks)	-7.00	%
Russell 1000^® Growth Index (large-cap growth stocks)	-24.60	%
Russell 2000^® Value Index (small-cap value stocks)	-10.73	%
Russell 2000^® Growth Index (small-cap growth stocks)	-26.02	%

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 small cap stocks with the lowest profitability and highest relative price. The ETF also generally excludes certain small cap companies that have high asset growth. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2022, the ETF held approximately 2,380 securities. Average cash exposure throughout the year was less than 1% of the ETF’s assets.

For the 12 months ended October 31, 2022, total returns were -15.30% for the ETF and -16.52% for the Russell 3000^® Index, the ETF’s benchmark. The ETF’s exclusion of stocks with high asset growth contributed positively to performance relative to the benchmark, as those stocks underperformed. The ETF’s exclusion of stocks with the lowest profitability and highest relative price also contributed positively to relative performance, as those stocks 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. Additionally, the ETF generally excludes certain companies with high asset growth. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2022, the ETF held approximately 1,990 securities. Average cash exposure throughout the year was less than 1% of the ETF’s assets.

For the 12 months ended October 31, 2022, total returns were -10.58% for the ETF and -18.54% 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 underperformed. The

ETF’s exclusion of stocks with high asset growth also contributed positively to relative performance, as those securities underperformed.

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. Additionally, the ETF generally excludes certain companies with high asset growth. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2022, the ETF held approximately 1,630 securities. Average cash exposure throughout the year was less than 1% of the ETF’s assets.

For the 12 months ended October 31, 2022, total returns were -3.07% for the ETF and -10.73% 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 outperformed. With low relative price (value) stocks outperforming high relative price (growth) stocks for the period, the ETF’s greater emphasis on value stocks as compared to the benchmark also contributed positively to the ETF’s relative performance. Additionally, the ETF’s exclusion of real estate investment trusts (REITs) contributed positively to relative performance, as REITs generally underperformed. The ETF’s exclusion of stocks with high asset growth also contributed positively to relative performance, as those stocks 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. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2022, 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, 2022, total returns were -11.95% for the ETF and -16.52% for the Russell 3000^® Index, the ETF’s benchmark. With low relative price (value) stocks outperforming high relative price (growth) stocks, the ETF’s emphasis on value stocks contributed positively to relative performance. The ETF’s emphasis on higher-profitability stocks also contributed positively to relative performance, as higher-profitability value stocks outperformed lower-profitability growth stocks.

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. As of October 31, 2022, the Portfolio held approximately 1,200 securities. Average cash exposure throughout the year was less than 1% of the Portfolio’s assets.

For the 12 months ended October 31, 2022, total returns were -6.28% for the ETF and -7.25% for the Russell 3000^® Value Index, the ETF’s benchmark. The ETF’s emphasis on higher-profitability stocks within the value segment of the U.S. market contributed positively to relative performance, as these stocks outperformed. Additionally, the ETF’s exclusion of real estate investment trusts (REITs) contributed positively to relative performance, as REITs generally underperformed.


International Equity Market Review		12 Months Ended October 31, 2022

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


Total Return for 12 Months Ended October 31, 2022

	Return in U.S. Dollars
MSCI World ex USA Index		-22.04	%
MSCI World ex USA Mid Cap Index		-27.57	%
MSCI World ex USA Small Cap Index		-29.13	%
MSCI World ex USA Value Index		-15.27	%
MSCI World ex USA Growth Index		-28.78	%

For the 12 Months Ended October 31, 2022, the U.S. dollar appreciated against all non-U.S. developed markets currencies. Overall, currency movements had a negative impact on the U.S. dollar-denominated returns of developed markets.


Total Return for 12 Months Ended October 31, 2022

Ten Largest Foreign Developed Markets by Market Cap	Local Return			Return in U.S. Dollars
Japan		-1.81	%		-24.67	%
United Kingdom		4.27	%		-12.42	%
Canada		-5.29	%		-13.94	%
France		-6.77	%		-20.38	%
Switzerland		-11.30	%		-19.01	%
Australia		-0.54	%		-15.30	%
Germany		-21.22	%		-32.72	%
Netherlands		-28.51	%		-38.71	%
Sweden		-16.17	%		-34.85	%
Denmark		-7.88	%		-21.38	%

Emerging markets had negative performance for the period and underperformed both U.S. and non-U.S. developed markets. As measured by the MSCI Emerging Markets indices, small-cap stocks outperformed large-cap stocks, and mid-cap stocks, a subset of the large-cap universe, outperformed large-cap stocks but underperformed small-cap stocks. Value stocks outperformed growth stocks as measured by the MSCI Emerging Markets indices.


Total Return for 12 Months Ended October 31, 2022

	Return in U.S. Dollars
MSCI Emerging Markets Index		-31.03	%
MSCI Emerging Markets Mid Cap Index		-24.80	%
MSCI Emerging Markets Small Cap Index		-23.42	%
MSCI Emerging Markets Value Index		-25.21	%
MSCI Emerging Markets Growth Index		-36.11	%

For the 12 Months Ended October 31, 2022, the U.S. dollar appreciated against most emerging markets currencies and depreciated against others. Overall, currency movements had a negative impact on the U.S. dollar denominated returns of emerging markets.


Total Return for 12 Months Ended October 31, 2022

Ten Largest Emerging Markets by Market Cap	Local Return			Return in U.S.
Dollars
China		-46.31	%		-47.90	%
India		2.93	%		-6.89	%
Taiwan		-24.11	%		-34.50	%
Korea		-19.88	%		-34.28	%
Brazil		15.95	%		24.57	%
Saudi Arabia		2.18	%		2.00	%
South Africa		0.77	%		-16.66	%
Mexico		1.99	%		5.56	%
Indonesia		16.58	%		5.89	%
Thailand		4.97	%		-8.48	%

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, 2022, these differences generally detracted from 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. As of October 31, 2022, the ETF held approximately 570 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, 2022, total returns were -13.97% for the ETF, -15.27% for the MSCI World ex USA Value Index, and -22.04% for the MSCI World ex USA Index (net dividends). As of February 28, 2022, the Portfolio changed its benchmark from the MSCI World ex USA Index (net dividends) to the MSCI World ex USA Value Index (net dividends) because this index better reflects the universe of securities in which the ETF invests. With low relative price (value) stocks outperforming high relative price (growth) stocks, the ETF’s focus on value stocks contributed positively to performance relative to the benchmarks. The ETF’s exclusion of real estate investment trusts (REITs) also contributed positively to relative performance, as those stocks generally underperformed.

Dimensional World ex U.S. Core 2 Equity 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. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2022, the ETF held approximately 9,820 securities in 45 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, 2022, total returns were -22.87% for the ETF and -24.73% for the MSCI All Country World ex USA Index (net dividends), the ETF’s benchmark. The ETF’s greater emphasis on low relative price (value) stocks contributed positively to relative performance, as value stocks outperformed high relative price (growth) stocks in developed ex U.S. and emerging markets.

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 October 31, 2022
EXPENSE TABLES
	Beginning Account Value 5/1/2022		Ending Account Value 10/31/2022		Annualized Expense Ratio			Expenses Paid During Period^(a)
Dimensional U.S. Equity ETF
Actual Fund Return	$	1,000.00	$	951.00		0.09	%	$	0.44
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	$	1,009.40		0.26	%	$	1.32
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.89		0.26	%	$	1.33

DISCLOSURE OF FUND EXPENSES

CONTINUED


	Beginning Account Value 5/1/2022		Ending Account Value 10/31/2022		Annualized Expense Ratio			Expenses Paid During Period^(a)

Dimensional U.S. Targeted Value ETF
Actual Fund Return	$	1,000.00	$	1,020.80		0.28	%	$	1.43
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.79		0.28	%	$	1.43

Dimensional U.S. Core Equity 2 ETF
Actual Fund Return	$	1,000.00	$	967.60		0.17	%	$	0.84
Hypothetical 5% Annual Return	$	1,000.00	$	1,024.35		0.17	%	$	0.87

Dimensional US Marketwide Value ETF
Actual Fund Return	$	1,000.00	$	999.40		0.21	%	$	1.06
Hypothetical 5% Annual Return	$	1,000.00	$	1,024.15		0.21	%	$	1.07

Dimensional International Value ETF
Actual Fund Return	$	1,000.00	$	893.10		0.28	%	$	1.34
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.79		0.28	%	$	1.43

Dimensional World ex U.S. Core Equity 2 ETF
Actual Fund Return	$	1,000.00	$	850.20		0.32	%	$	1.49
Hypothetical 5% Annual Return	$	1,000.00	$	1,023.59		0.32	%	$	1.63

(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.

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 29, 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 U.S. Equity ETF
Communication Services	7.1	%
Consumer Discretionary	11.1	%
Consumer Staples	6.7	%
Energy	5.6	%
Financials	12.6	%
Health Care	15.2	%
Industrials	9.6	%
Information Technology	26.1	%
Materials	2.9	%
Real Estate	0.1	%
Utilities	3.0	%

	100.0	%


Dimensional U.S. Small Cap ETF
Communication Services	2.5	%
Consumer Discretionary	13.0	%
Consumer Staples	4.1	%
Energy	6.9	%
Financials	21.2	%
Health Care	10.4	%
Industrials	20.7	%
InformationTechnology	11.5	%
Materials	6.2	%
Real Estate	0.5	%
Utilities	3.0	%

	100.0	%


Dimensional U.S. Targeted Value ETF
Communication Services	2.8	%
Consumer Discretionary	13.9	%
Consumer Staples	5.0	%
Energy	8.5	%
Financials	28.8	%
Health Care	4.4	%
Industrials	19.1	%
Information Technology	8.6	%
Materials	7.9	%
Real Estate	0.6	%
Utilities	0.4	%

	100.0	%


Dimensional U.S. Core Equity 2 ETF
Communication Services	5.3	%
Consumer Discretionary	10.2	%
Consumer Staples	6.4	%
Energy	7.0	%
Financials	15.2	%
Health Care	13.6	%
Industrials	13.5	%
Information Technology	21.9	%
Materials	4.5	%
Real Estate	0.3	%
Utilities	2.1	%

	100.0	%


Dimensional US Marketwide Value ETF
Communication Services	8.0	%
Consumer Discretionary	5.1	%
Consumer Staples	6.5	%
Energy	15.0	%
Financials	21.2	%
Health Care	19.3	%
Industrials	13.2	%
Information Technology	6.4	%
Materials	4.9	%
Real Estate	0.3	%
Utilities	0.1	%

	100.0	%


Dimensional International Value ETF
Communication Services	3.6	%
Consumer Discretionary	12.3	%
Consumer Staples	5.1	%
Energy	15.1	%
Financials	28.2	%
Health Care	5.7	%
Industrials	10.9	%
Information Technology	1.4	%
Materials	14.3	%
Real Estate	2.2	%
Utilities	1.2	%

	100.0	%

DISCLOSURE OF PORTFOLIO HOLDINGS

CONTINUED


Dimensional World ex U.S. Core Equity 2 ETF
Communication Services	5.2	%
Consumer Discretionary	11.7	%
Consumer Staples	7.6	%
Energy	7.8	%
Financials	16.0	%
Health Care	6.9	%
Industrials	15.9	%
Information Technology	10.7	%
Materials	12.8	%
Real Estate	2.4	%
Utilities	3.0	%

	100.0	%

DIMENSIONAL U.S. EQUITY ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2022


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (98.2%)
COMMUNICATION SERVICES — (7.0%)
*	Alphabet, Inc., Class A		894,563	$	84,545,149		1.6%
*	Alphabet, Inc., Class C		883,389		83,621,603		1.5%
	Comcast Corp., Class A		674,578		21,411,106		0.4%
*	Meta Platforms, Inc., Class A		344,302		32,075,174		0.6%
	Verizon Communications, Inc.		630,836		23,574,341		0.4%
*	Walt Disney Co. (The)		266,744		28,418,906		0.5%
	Other Securities				116,897,148		2.1%


TOTAL COMMUNICATION SERVICES					390,543,427		7.1%


CONSUMER DISCRETIONARY — (10.9%)
*	Amazon.com, Inc.		1,323,768		135,606,794		2.5%
	Home Depot, Inc. (The)		160,786		47,613,558		0.9%
	Lowe’s Cos., Inc.		106,090		20,682,245		0.4%
	McDonald’s Corp.		110,964		30,255,444		0.6%
*	Tesla, Inc.		385,114		87,628,840		1.6%
	Other Securities				283,838,347		5.1%


TOTAL CONSUMER DISCRETIONARY					605,625,228		11.1%


CONSUMER STAPLES — (6.6%)
	Coca-Cola Co. (The)		626,081		37,470,948		0.7%
	Costco Wholesale Corp.		67,355		33,778,533		0.6%
	PepsiCo., Inc.		216,631		39,335,857		0.7%
	Procter & Gamble Co. (The)		370,755		49,929,576		0.9%
	Walmart, Inc.		221,214		31,485,389		0.6%
	Other Securities				174,509,644		3.2%


TOTAL CONSUMER STAPLES					366,509,947		6.7%


ENERGY — (5.5%)
	Chevron Corp.		294,194		53,219,695		1.0%
	ConocoPhillips		194,845		24,568,006		0.5%
	Exxon Mobil Corp.		639,181		70,827,647		1.3%
	Other Securities				155,745,539		2.8%


TOTAL ENERGY					304,360,887		5.6%


FINANCIALS — (12.4%)
	Bank of America Corp.		1,118,597		40,314,236		0.8%
*	Berkshire Hathaway, Inc., Class B		285,329		84,197,735		1.6%
	JPMorgan Chase & Co.		456,187		57,424,820		1.1%
	Wells Fargo & Co.		537,892		24,737,653		0.5%
	Other Securities				480,824,835		8.6%


TOTAL FINANCIALS					687,499,279		12.6%


HEALTH CARE — (14.9%)
	Abbott Laboratories		258,823		25,607,948		0.5%
	AbbVie, Inc.		273,987		40,111,697		0.7%
	Amgen, Inc.		81,748		22,100,572		0.4%
	Bristol-Myers Squibb Co.		303,112		23,482,087		0.4%
	Danaher Corp.		98,433		24,772,633		0.5%
	Eli Lilly & Co.		128,988		46,705,265		0.9%
	Johnson & Johnson		399,024		69,418,205		1.3%
	Merck & Co., Inc.		389,810		39,448,772		0.7%
	Pfizer, Inc.		855,512		39,824,084		0.7%

DIMENSIONAL U.S. EQUITY ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
HEALTH CARE — (Continued)
	Thermo Fisher Scientific, Inc.		59,261	$	30,458,376		0.6%
	UnitedHealth Group, Inc.		143,680		79,763,952		1.5%
	Other Securities				388,042,927		6.9%


TOTAL HEALTH CARE					829,736,518		15.1%


INDUSTRIALS — (9.4%)
	Honeywell International, Inc.		106,817		21,792,804		0.4%
	Raytheon Technologies Corp.		220,700		20,926,774		0.4%
	Other Securities				479,237,520		8.7%


TOTAL INDUSTRIALS					521,957,098		9.5%


INFORMATION TECHNOLOGY — (25.6%)
	Accenture PLC, Class A		96,961		27,527,228		0.5%
*	Adobe, Inc.		66,176		21,077,056		0.4%
	Apple, Inc.		2,443,020		374,612,687		6.9%
	Broadcom, Inc.		62,698		29,475,584		0.6%
	Cisco Systems, Inc.		636,685		28,924,600		0.5%
	Mastercard, Inc., Class A		135,257		44,388,642		0.8%
	Microsoft Corp.		1,053,555		244,561,722		4.5%
	NVIDIA Corp.		351,294		47,414,151		0.9%
	Oracle Corp.		290,585		22,685,971		0.4%
*	salesforce.com, Inc.		145,671		23,684,648		0.4%
	Texas Instruments, Inc.		135,784		21,810,984		0.4%
	Visa, Inc., Class A		253,623		52,540,541		1.0%
	Other Securities				488,217,704		8.8%


TOTAL INFORMATION TECHNOLOGY					1,426,921,518		26.1%


MATERIALS — (2.9%)
#	Linde PLC		80,933		24,065,428		0.5%
	Other Securities				135,103,427		2.4%


TOTAL MATERIALS					159,168,855		2.9%


REAL ESTATE — (0.1%)
	Other Securities				7,090,976		0.1%


UTILITIES — (2.9%)
	NextEra Energy, Inc.		307,550		23,835,125		0.4%
	Other Securities				140,094,004		2.6%


TOTAL UTILITIES					163,929,129		3.0%


TOTAL COMMON STOCKS					5,463,342,862		99.8%


PREFERRED STOCK — (0.0%)
INDUSTRIALS — (0.0%)
	Other Securities				83,565		0.0%


TOTAL PREFERRED STOCK					83,565		0.0%


RIGHTS/WARRANTS — (0.0%)

CONSUMER DISCRETIONARY — (0.0%)
	Other Securities				15		0.0%


HEALTH CARE — (0.0%)
	Other Securities				4,792		0.0%

DIMENSIONAL U.S. EQUITY ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

INDUSTRIALS — (0.0%)
	Other Securities			$	1,805		0.0%


TOTAL RIGHTS/WARRANTS					6,612		0.0%


TOTAL INVESTMENT SECURITIES — (98.2%)
(Cost $2,228,091,047)					5,463,433,039


SECURITIES LENDING COLLATERAL — (1.8%)
@§	The DFA Short Term Investment Fund		8,576,849		99,229,856		1.8%


TOTAL INVESTMENTS — (100.0%)
(Cost $2,327,320,903)				$	5,562,662,895		101.6%


Summary of the Fund’s investments as of October 31, 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		$390,542,717		$—		$710		$390,543,427
Consumer Discretionary		605,625,228		—		—		605,625,228
Consumer Staples		366,509,947		—		—		366,509,947
Energy		304,360,887		—		—		304,360,887
Financials		687,499,279		—		—		687,499,279
Health Care		829,697,347		—		39,171		829,736,518
Industrials		521,957,098		—		—		521,957,098
Information Technology		1,426,921,518		—		—		1,426,921,518
Materials		159,168,855		—		—		159,168,855
Real Estate		7,090,976		—		—		7,090,976
Utilities		163,929,129		—		—		163,929,129
Preferred Stock
Industrials		83,565		—		—		83,565
Rights/Warrants
Consumer Discretionary		—		—		15		15
Health Care		—		2,218		2,574		4,792
Industrials		—		1,805		—		1,805
Securities Lending Collateral		—		99,229,856		—		99,229,856

Total Investments		$5,463,386,546		$99,233,879		$42,470		$5,562,662,895

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 U.S. SMALL CAP ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2022


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (92.8%)
COMMUNICATION SERVICES — (2.3%)
	Nexstar Media Group, Inc.		77,573	$	13,288,255		0.3%
	Other Securities				101,517,032		2.2%

TOTAL COMMUNICATION SERVICES					114,805,287		2.5%


CONSUMER DISCRETIONARY — (12.1%)
	Marriott Vacations Worldwide Corp.		91,624		13,538,362		0.3%
#	Murphy USA, Inc.		73,973		23,265,248		0.5%
	Texas Roadhouse, Inc.		123,899		12,259,806		0.3%
	Other Securities				559,466,097		11.9%


TOTAL CONSUMER DISCRETIONARY					608,529,513		13.0%


CONSUMER STAPLES — (3.8%)
	Other Securities				189,599,385		4.0%


ENERGY — (6.4%)
	Matador Resources Co.		213,050		14,157,172		0.3%
	PDC Energy, Inc.		181,915		13,123,348		0.3%
	Range Resources Corp.		507,320		14,448,474		0.3%
	Other Securities				279,257,900		6.0%


TOTAL ENERGY					320,986,894		6.9%


FINANCIALS — (19.7%)
	American Equity Investment Life Holding Co.		260,653		11,228,931		0.2%
	Cadence Bank		441,982		12,220,802		0.3%
	Cathay General BanCorp		287,958		13,130,885		0.3%
#	Glacier BanCorp, Inc.		240,514		13,776,642		0.3%
	Hancock Whitney Corp.		194,706		10,878,224		0.2%
	Hanover Insurance Group, Inc. (The)		82,923		12,147,390		0.3%
	Independent Bank Corp.		131,872		11,474,183		0.3%
	Primerica, Inc.		79,716		11,534,905		0.3%
	RLI Corp.		112,503		14,633,265		0.3%
	Selective Insurance Group, Inc.		150,758		14,786,345		0.3%
	SouthState Corp.		120,815		10,925,300		0.2%
	UMB Financial Corp.		139,976		11,648,803		0.3%
	United Bankshares, Inc.		296,099		12,539,793		0.3%
	Other Securities				831,402,971		17.6%


TOTAL FINANCIALS					992,328,439		21.2%


HEALTH CARE — (9.7%)
*	Acadia Healthcare Co., Inc.		181,368		14,745,218		0.3%
*	AMN Healthcare Services, Inc.		116,516		14,622,758		0.3%
	Ensign Group, Inc. (The)		133,939		12,025,043		0.3%
*	Medpace Holdings, Inc.		56,782		12,604,468		0.3%
*	Option Care Health, Inc.		362,547		10,970,672		0.2%
	Other Securities				421,411,237		9.0%


TOTAL HEALTH CARE					486,379,396		10.4%


INDUSTRIALS — (19.2%)
	Applied Industrial Technologies, Inc.		100,548		12,506,160		0.3%
*	ASGN, Inc.		132,971		11,273,281		0.2%
*	Builders FirstSource, Inc.		198,651		12,248,821		0.3%

DIMENSIONAL U.S. SMALL CAP ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
INDUSTRIALS — (Continued)
#*	Chart Industries, Inc.		73,572	$	16,397,727		0.4%
*	Clean Harbors, Inc.		103,727		12,702,408		0.3%
	Comfort Systems USA, Inc.		101,466		12,508,728		0.3%
	EMCOR Group, Inc.		112,648		15,894,633		0.3%
#*	FTI Consulting, Inc.		95,450		14,854,883		0.3%
#	KBR, Inc.		258,851		12,883,014		0.3%
#	Landstar System, Inc.		69,485		10,854,947		0.2%
#*	MasTec, Inc.		176,383		13,595,602		0.3%
*	Saia, Inc.		69,430		13,806,850		0.3%
	Timken Co. (The)		184,431		13,148,086		0.3%
	Triton International, Ltd.		186,629		11,326,514		0.3%
	UFP Industries, Inc.		167,553		11,934,800		0.3%
	Valmont Industries, Inc.		47,520		15,169,334		0.3%
	Other Securities				757,092,987		16.0%


TOTAL INDUSTRIALS					968,198,775		20.7%


INFORMATION TECHNOLOGY — (10.7%)
	Amkor Technology, Inc.		577,511		12,006,454		0.3%
*	Calix, Inc.		163,420		12,034,249		0.3%
*	Cirrus Logic, Inc.		165,924		11,136,819		0.2%
*	ExlService Holdings, Inc.		89,270		16,233,749		0.4%
*	Lattice Semiconductor Corp.		238,105		11,550,474		0.3%
*	Novanta, Inc.		85,690		12,116,566		0.3%
	Other Securities				462,381,235		9.7%


TOTAL INFORMATION TECHNOLOGY					537,459,546		11.5%


MATERIALS — (5.7%)
	Commercial Metals Co.		340,660		15,500,030		0.3%
#	Louisiana-Pacific Corp.		250,050		14,165,333		0.3%
	Other Securities				257,853,700		5.5%


TOTAL MATERIALS					287,519,063		6.1%


REAL ESTATE — (0.4%)
	Other Securities				22,792,932		0.5%


UTILITIES — (2.8%)
#	Ormat Technologies, Inc.		120,095		10,862,593		0.2%
	Other Securities				130,853,428		2.8%


TOTAL UTILITIES					141,716,021		3.0%


TOTAL COMMON STOCKS					4,670,315,251		99.8%


PREFERRED STOCKS — (0.0%)
COMMUNICATION SERVICES — (0.0%)
	Other Securities				197,046		0.0%


CONSUMER DISCRETIONARY — (0.0%)
	Other Securities				206,478		0.0%


INDUSTRIALS — (0.0%)
	Other Securities				1,093,257		0.0%


TOTAL PREFERRED STOCKS					1,496,781		0.0%

DIMENSIONAL U.S. SMALL CAP ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

RIGHTS/WARRANTS — (0.0%)
CONSUMER DISCRETIONARY — (0.0%)
	Other Securities			$	4,777		0.0%

HEALTH CARE — (0.0%)
	Other Securities				617,704		0.0%


TOTAL RIGHTS/WARRANTS					622,481		0.0%


TOTAL INVESTMENT SECURITIES — (92.8%)
(Cost $2,918,470,756)					4,672,434,513


SECURITIES LENDING COLLATERAL — (7.2%)
@§	The DFA Short Term Investment Fund		31,410,331		363,401,830		7.8%


TOTAL INVESTMENTS — (100.0%)
(Cost $3,281,872,586)				$	5,035,836,343		107.6%

Summary of the Fund’s investments as of October 31, 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	$	114,758,627	$	—	$	46,660	$	114,805,287
Consumer Discretionary		608,529,513		—		—		608,529,513
Consumer Staples		189,508,159		—		91,226		189,599,385
Energy		320,986,894		—		—		320,986,894
Financials		992,285,902		—		42,537		992,328,439
Health Care		485,520,871		—		858,525		486,379,396
Industrials		968,198,775		—		—		968,198,775
Information Technology		537,459,546		—		—		537,459,546
Materials		287,519,063		—		—		287,519,063
Real Estate		22,792,932		—		—		22,792,932
Utilities		141,716,021		—		—		141,716,021
Preferred Stocks
Communication Services		197,046		—		—		197,046
Consumer Discretionary		206,478		—		—		206,478
Industrials		1,093,257		—		—		1,093,257
Rights/Warrants
Consumer Discretionary		—		—		4,777		4,777
Health Care		—		59,612		558,092		617,704
Securities Lending Collateral		—		363,401,830		—		363,401,830


Total Investments		$4,670,773,084	$	363,461,442	$	1,601,817	$	5,035,836,343

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 U.S. TARGETED VALUE ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2022


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (94.4%)
COMMUNICATION SERVICES — (2.5%)
	News Corp., Class A		1,554,238	$	26,219,995		0.4%
	Nexstar Media Group, Inc.		142,276		24,371,879		0.4%
	Other Securities				140,297,420		1.9%


TOTAL COMMUNICATION SERVICES					190,889,294		2.7%

CONSUMER DISCRETIONARY — (13.1%)
#*	AutoNation, Inc.		372,184		39,566,881		0.6%
	BorgWarner, Inc., Class A		1,030,312		38,667,609		0.5%
#	Dillard’s, Inc., Class A		151,535		49,823,193		0.7%
#	Penske Automotive Group, Inc.		352,775		39,376,745		0.6%
	PulteGroup, Inc.		861,693		34,459,103		0.5%
	Toll Brothers, Inc.		659,837		28,425,778		0.4%
	Other Securities				768,191,491		10.6%


TOTAL CONSUMER DISCRETIONARY					998,510,800		13.9%


CONSUMER STAPLES — (4.7%)
	Bunge, Ltd.		322,419		31,822,755		0.5%
*	Darling Ingredients, Inc.		344,909		27,068,458		0.4%
*	Hostess Brands, Inc.		878,187		23,254,392		0.3%
*	Post Holdings, Inc.		270,010		24,414,304		0.4%
	Other Securities				250,377,020		3.4%


TOTAL CONSUMER STAPLES					356,936,929		5.0%

ENERGY — (8.0%)
	HF Sinclair Corp.		579,620		35,455,355		0.5%
*	PBF Energy, Inc., Class A		731,708		32,378,079		0.5%
*	TechnipFMC PLC		2,455,415		26,002,845		0.4%
	Other Securities				516,103,987		7.1%


TOTAL ENERGY					609,940,266		8.5%


FINANCIALS — (27.3%)
	American Equity Investment Life Holding Co.		621,090		26,756,557		0.4%
	Assured Guaranty, Ltd.		506,464		29,977,604		0.4%
	First Horizon Corp.		1,214,647		29,770,998		0.4%
	Invesco, Ltd.		1,746,387		26,754,649		0.4%
	Lincoln National Corp.		435,590		23,465,233		0.3%
	Old National BanCorp		1,235,684		24,169,979		0.3%
	Old Republic International Corp.		1,151,385		26,723,646		0.4%
	Popular, Inc.		403,750		28,553,200		0.4%
	Prosperity Bancshares, Inc.		353,218		25,279,812		0.4%
	Reinsurance Group of America, Inc.		205,118		30,187,216		0.4%
	United Bankshares, Inc.		577,043		24,437,771		0.3%
#	Voya Financial, Inc.		500,641		34,223,819		0.5%
	Webster Financial Corp.		627,218		34,032,849		0.5%
#	Zions BanCorp NA		520,138		27,015,968		0.4%
	Other Securities				1,679,797,709		23.3%


TOTAL FINANCIALS					2,071,147,010		28.8%

HEALTH CARE — (4.3%)
#*	Acadia Healthcare Co., Inc.		295,622		24,034,069		0.3%
	Other Securities				300,565,848		4.2%


TOTAL HEALTH CARE					324,599,917		4.5%

DIMENSIONAL U.S. TARGETED VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

INDUSTRIALS — (18.0%)
	AGCO Corp.		343,853	$	42,696,227		0.6%
#	AMERCO		53,660		30,864,695		0.4%
*	Builders FirstSource, Inc.		412,837		25,455,529		0.4%
#	GATX Corp.		239,727		25,101,814		0.4%
	Knight-Swift Transportation Holdings, Inc.		815,618		39,174,133		0.6%
	Owens Corning		323,011		27,652,972		0.4%
	Quanta Services, Inc.		290,616		41,279,097		0.6%
	Triton International, Ltd.		425,698		25,835,612		0.4%
*	WESCO International, Inc.		216,339		29,805,024		0.4%
	Other Securities				1,081,511,115		14.8%


TOTAL INDUSTRIALS					1,369,376,218		19.0%


INFORMATION TECHNOLOGY — (8.1%)
*	Arrow Electronics, Inc.		425,743		43,110,736		0.6%
	Avnet, Inc.		581,137		23,355,896		0.3%
	Concentrix Corp.		201,827		24,669,314		0.4%
#*	Sanmina Corp.		437,635		24,529,442		0.3%
	TD SYNNEX Corp.		266,179		24,358,040		0.3%
	Other Securities				474,975,252		6.7%


TOTAL INFORMATION TECHNOLOGY					614,998,680		8.6%


MATERIALS — (7.5%)
	Commercial Metals Co.		672,462		30,597,021		0.4%
	Huntsman Corp.		977,948		26,169,888		0.4%
	Olin Corp.		540,102		28,598,401		0.4%
	Reliance Steel & Aluminum Co.		343,173		69,142,496		1.0%
	Steel Dynamics, Inc.		431,894		40,619,631		0.6%
#	Westlake Corp.		251,824		24,338,790		0.3%
	Other Securities				350,914,292		4.8%


TOTAL MATERIALS					570,380,519		7.9%


REAL ESTATE — (0.6%)
	Other Securities				45,573,985		0.6%


UTILITIES — (0.3%)
	Other Securities				25,224,085		0.4%


TOTAL COMMON STOCKS					7,177,577,703		99.9%


PREFERRED STOCKS — (0.0%)

COMMUNICATION SERVICES — (0.0%)
	Other Securities				303,447		0.0%


CONSUMER DISCRETIONARY — (0.0%)

	Other Securities				288,307		0.0%


INDUSTRIALS — (0.0%)

	Other Securities				1,772,388		0.0%


TOTAL PREFERRED STOCKS					2,364,142		0.0%

DIMENSIONAL U.S. TARGETED VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

RIGHTS/WARRANTS — (0.0%)

CONSUMER DISCRETIONARY — (0.0%)

	Other Securities			$	8,487		0.0%


HEALTH CARE — (0.0%)

	Other Securities				141,661		0.0%


TOTAL RIGHTS/WARRANTS					150,148		0.0%


TOTAL INVESTMENT SECURITIES — (94.4%) (Cost $4,942,333,196)					7,180,091,993


SECURITIES LENDING COLLATERAL — (5.6%)
@§	The DFA Short Term Investment Fund		36,481,230		422,069,586		5.9%


TOTAL INVESTMENTS — (100.0%)
(Cost $5,364,402,782)				$	7,602,161,579		105.8%


Summary of the Fund’s investments as of October 31, 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	$	190,764,908	$	—	$	124,386	$	190,889,294
Consumer Discretionary		998,510,800		—		—		998,510,800
Consumer Staples		356,824,018		—		112,911		356,936,929
Energy		609,940,266		—		—		609,940,266
Financials		2,070,960,336		—		186,674		2,071,147,010
Health Care		323,357,957		—		1,241,960		324,599,917
Industrials		1,369,376,218		—		—		1,369,376,218
Information Technology		614,998,680		—		—		614,998,680
Materials		570,380,519		—		—		570,380,519
Real Estate		45,573,985		—		—		45,573,985
Utilities		25,224,085		—		—		25,224,085
Preferred Stocks
Communication Services		303,447		—		—		303,447
Consumer Discretionary		288,307		—		—		288,307
Industrials		1,772,388		—		—		1,772,388
Rights/Warrants
Consumer Discretionary		—		—		8,487		8,487
Health Care		—		97		141,564		141,661
Securities Lending Collateral		—		422,069,586		—		422,069,586

Total Investments	$	7,178,275,914	$	422,069,683	$	1,815,982	$	7,602,161,579

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 U.S. CORE EQUITY 2 ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2022


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (96.5%)
COMMUNICATION SERVICES — (5.1%)
*	Alphabet, Inc., Class A		1,281,376	$	121,102,846		0.8%
*	Alphabet, Inc., Class C		1,193,549		112,981,348		0.7%
	Comcast Corp., Class A		1,931,790		61,315,015		0.4%
*	Meta Platforms, Inc., Class A		910,267		84,800,474		0.6%
	Verizon Communications, Inc.		2,060,724		77,009,256		0.5%
	Other Securities				358,371,165		2.3%


TOTAL COMMUNICATION SERVICES					815,580,104		5.3%


CONSUMER DISCRETIONARY — (9.9%)
*	Amazon.com, Inc.		1,657,852		169,830,359		1.1%
	Home Depot, Inc. (The)		242,536		71,822,186		0.5%
	Other Securities				1,332,863,637		8.6%


TOTAL CONSUMER DISCRETIONARY					1,574,516,182		10.2%

CONSUMER STAPLES — (6.2%)
	Coca-Cola Co. (The)		1,168,656		69,944,062		0.5%
	Costco Wholesale Corp.		152,359		76,408,038		0.5%
	PepsiCo., Inc.		564,285		102,462,870		0.7%
	Procter & Gamble Co. (The)		883,813		119,023,097		0.8%
	Walmart, Inc.		488,622		69,545,569		0.5%
	Other Securities				558,511,967		3.4%


TOTAL CONSUMER STAPLES					995,895,603		6.4%

ENERGY — (6.7%)
	Chevron Corp.		532,714		96,367,963		0.6%
	ConocoPhillips		675,332		85,152,612		0.6%
	EOG Resources, Inc.		317,905		43,400,391		0.3%
	Exxon Mobil Corp.		1,537,231		170,340,567		1.1%
	Other Securities				680,894,308		4.4%


TOTAL ENERGY					1,076,155,841		7.0%


FINANCIALS — (14.7%)
	American Express Co.		347,468		51,581,625		0.3%
	Bank of America Corp.		2,214,906		79,825,212		0.5%
*	Berkshire Hathaway, Inc., Class B		473,335		139,676,425		0.9%
	JPMorgan Chase & Co.		1,022,301		128,687,250		0.8%
	Morgan Stanley		554,960		45,601,063		0.3%
	Wells Fargo & Co.		1,080,835		49,707,602		0.3%
	Other Securities				1,853,773,480		12.1%


TOTAL FINANCIALS					2,348,852,657		15.2%


HEALTH CARE — (13.1%)
	AbbVie, Inc.		623,183		91,233,991		0.6%
	Amgen, Inc.		180,696		48,851,164		0.3%
	Bristol-Myers Squibb Co.		845,380		65,491,589		0.4%
	Cigna Corp.		135,228		43,686,758		0.3%
	CVS Health Corp.		485,516		45,978,365		0.3%
	Elevance Health, Inc.		107,817		58,951,101		0.4%
	Eli Lilly & Co.		264,096		95,626,521		0.6%
	Gilead Sciences, Inc.		577,715		45,327,519		0.3%
	Johnson & Johnson		1,009,678		175,653,682		1.2%
	Merck & Co., Inc.		907,398		91,828,678		0.6%
	Pfizer, Inc.		2,023,527		94,195,182		0.6%
	Thermo Fisher Scientific, Inc.		89,103		45,796,269		0.3%

DIMENSIONAL U.S. CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
HEALTH CARE — (Continued)
	UnitedHealth Group, Inc.		285,377	$	158,427,042		1.0%
	Other Securities				1,033,148,249		6.7%

TOTAL HEALTH CARE					2,094,196,110		13.6%

INDUSTRIALS — (13.1%)
	Caterpillar, Inc.		246,103		53,271,455		0.4%
#	Deere & Co.		116,022		45,923,828		0.3%
	Union Pacific Corp.		324,761		64,023,384		0.4%
	United Parcel Service, Inc., Class B		273,997		45,968,477		0.3%
	Other Securities				1,873,034,915		12.1%


TOTAL INDUSTRIALS					2,082,222,059		13.5%

INFORMATION TECHNOLOGY — (21.1%)
	Accenture PLC, Class A		217,227		61,670,745		0.4%
	Apple, Inc.		4,973,659		762,660,871		5.0%
	Broadcom, Inc.		170,592		80,198,711		0.5%
	Cisco Systems, Inc.		1,454,593		66,082,160		0.4%
	Intel Corp.		1,862,574		52,952,979		0.4%
	International Business Machines Corp.		374,905		51,845,612		0.4%
	Mastercard, Inc., Class A		310,669		101,955,352		0.7%
	Microsoft Corp.		2,379,778		552,417,867		3.6%
	QUALCOMM, Inc.		521,144		61,317,803		0.4%
	Texas Instruments, Inc.		369,507		59,353,909		0.4%
#	Visa, Inc., Class A		587,590		121,725,144		0.8%
	Other Securities				1,400,730,695		8.8%


TOTAL INFORMATION TECHNOLOGY					3,372,911,848		21.8%


MATERIALS — (4.3%)
	Other Securities				688,587,591		4.4%


REAL ESTATE — (0.3%)
	Other Securities				41,882,943		0.3%


UTILITIES — (2.0%)
	Other Securities				319,359,709		2.1%


TOTAL COMMON STOCKS					15,410,160,647		99.8%


PREFERRED STOCKS — (0.0%)
COMMUNICATION SERVICES — (0.0%)
	Other Securities				209,128		0.0%


INDUSTRIALS — (0.0%)
	Other Securities				704,970		0.0%


TOTAL PREFERRED STOCKS					914,098		0.0%


RIGHTS/WARRANTS — (0.0%)
CONSUMER DISCRETIONARY — (0.0%)
	Other Securities				2,568		0.0%


HEALTH CARE — (0.0%)
	Other Securities				313,797		0.0%


INDUSTRIALS — (0.0%)
	Other Securities				12,896		0.0%


TOTAL RIGHTS/WARRANTS					329,261		0.0%

DIMENSIONAL U.S. CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

TOTAL INVESTMENT SECURITIES — (96.5%)
(Cost $8,851,357,408)				$	15,411,404,006


SECURITIES LENDING COLLATERAL — (3.5%)
@§	The DFA Short Term Investment Fund		48,085,162		556,321,285		3.6%


TOTAL INVESTMENTS — (100.0%)
(Cost $9,407,678,693)				$	15,967,725,291		103.4%

Summary of the Fund’s investments as of October 31, 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	$	815,565,684	$	—	$	14,420	$	815,580,104
Consumer Discretionary		1,574,516,182		—		—		1,574,516,182
Consumer Staples		995,877,712		—		17,891		995,895,603
Energy		1,076,155,841		—		—		1,076,155,841
Financials		2,348,847,407		—		5,250		2,348,852,657
Health Care		2,093,800,563		—		395,547		2,094,196,110
Industrials		2,081,742,323		—		479,736		2,082,222,059
Information Technology		3,372,911,848		—		—		3,372,911,848
Materials		688,587,591		—		—		688,587,591
Real Estate		41,882,943		—		—		41,882,943
Utilities		319,359,709		—		—		319,359,709
Preferred Stocks
Communication Services		209,128		—		—		209,128
Industrials		704,970		—		—		704,970
Rights/Warrants
Consumer Discretionary		—		—		2,568		2,568
Health Care		—		6,854		306,943		313,797
Industrials		—		12,896		—		12,896
Securities Lending Collateral		—		556,321,285		—		556,321,285

Total Investments	$	15,410,161,901	$	556,341,035	$	1,222,355	$	15,967,725,291

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 US MARKETWIDE VALUE ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2022


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (99.3%)
COMMUNICATION SERVICES — (7.9%)
	Activision Blizzard, Inc.		496,359	$	36,134,935		0.5%
	AT&T, Inc.		5,465,814		99,641,789		1.3%
	Comcast Corp., Class A		5,504,935		174,726,637		2.2%
*	T-Mobile US, Inc.		369,873		56,057,952		0.7%
	Verizon Communications, Inc.		1,577,504		58,951,324		0.8%
*	Walt Disney Co. (The)		596,022		63,500,184		0.8%
	Other Securities				143,402,819		1.7%


TOTAL COMMUNICATION SERVICES					632,415,640		8.0%


CONSUMER DISCRETIONARY — (5.0%)
	Ford Motor Co.		2,663,090		35,605,513		0.5%
	General Motors Co.		1,118,054		43,883,619		0.6%
	Other Securities				322,258,375		4.0%


TOTAL CONSUMER DISCRETIONARY					401,747,507		5.1%


CONSUMER STAPLES — (6.4%)
	Archer-Daniels-Midland Co.		618,580		59,989,888		0.8%
	Mondelez International, Inc., Class A		2,069,443		127,229,356		1.6%
	Walmart, Inc.		1,096,449		156,057,586		2.0%
	Other Securities				169,345,957		2.1%


TOTAL CONSUMER STAPLES					512,622,787		6.5%


ENERGY — (14.9%)
	Chevron Corp.		1,243,415		224,933,774		2.9%
	ConocoPhillips		1,456,396		183,636,972		2.3%
	Exxon Mobil Corp.		2,545,004		282,011,893		3.6%
	Marathon Petroleum Corp.		1,016,486		115,493,139		1.5%
	Occidental Petroleum Corp.		411,696		29,889,130		0.4%
	Phillips 66		718,172		74,898,158		1.0%
	Pioneer Natural Resources Co.		126,543		32,446,891		0.4%
	Valero Energy Corp.		511,778		64,253,728		0.8%
	Other Securities				174,123,786		2.0%


TOTAL ENERGY					1,181,687,471		14.9%


FINANCIALS — (21.1%)
	Bank of America Corp.		5,982,096		215,594,740		2.7%
*	Berkshire Hathaway, Inc., Class B		483,035		142,538,798		1.8%
	Capital One Financial Corp.		340,383		36,087,406		0.5%
	Citigroup, Inc.		1,456,485		66,794,402		0.9%
	Goldman Sachs Group, Inc. (The)		204,152		70,332,406		0.9%
	JPMorgan Chase & Co.		2,196,722		276,523,365		3.5%
	Morgan Stanley		1,143,195		93,936,333		1.2%
	Regions Financial Corp.		1,321,817		29,013,883		0.4%
	Travelers Cos, Inc. (The)		166,639		30,738,230		0.4%
	Wells Fargo & Co.		1,591,894		73,211,205		0.9%
	Other Securities				641,983,127		8.0%


TOTAL FINANCIALS					1,676,753,895		21.2%


HEALTH CARE — (19.2%)
	Abbott Laboratories		899,228		88,969,618		1.1%
#	Bristol-Myers Squibb Co.		729,772		56,535,437		0.7%

DIMENSIONAL US MARKETWIDE VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
HEALTH CARE — (Continued)
	Cigna Corp.		291,357	$	94,125,792		1.2%
	CVS Health Corp.		1,511,614		143,149,846		1.8%
	Danaher Corp.		369,238		92,926,127		1.2%
	Elevance Health, Inc.		458,552		250,722,477		3.2%
	Humana, Inc.		197,343		110,133,181		1.4%
	Medtronic PLC		828,832		72,390,187		0.9%
	Pfizer, Inc.		3,801,308		176,950,887		2.2%
*	Regeneron Pharmaceuticals, Inc.		38,969		29,178,039		0.4%
	Thermo Fisher Scientific, Inc.		428,087		220,023,875		2.8%
	Other Securities				189,780,605		2.4%


TOTAL HEALTH CARE					1,524,886,071		19.3%


INDUSTRIALS — (13.1%)
	CSX Corp.		2,969,203		86,285,039		1.1%
	Eaton Corp PLC		270,942		40,660,266		0.5%
	General Electric Co.		399,195		31,061,363		0.4%
	L3Harris Technologies, Inc.		128,188		31,594,496		0.4%
	Norfolk Southern Corp.		536,009		122,247,573		1.6%
	Raytheon Technologies Corp.		377,761		35,819,298		0.5%
	Republic Services, Inc.		422,724		56,061,657		0.7%
	Other Securities				637,459,881		8.0%


TOTAL INDUSTRIALS					1,041,189,573		13.2%


INFORMATION TECHNOLOGY — (6.4%)
	Intel Corp.		3,357,022		95,440,135		1.2%
	Micron Technology, Inc.		898,688		48,619,021		0.6%
	Other Securities				362,733,562		4.6%


TOTAL INFORMATION TECHNOLOGY					506,792,718		6.4%


MATERIALS — (4.9%)
	Linde PLC		179,350		53,329,723		0.7%
	Other Securities				333,538,540		4.2%


TOTAL MATERIALS					386,868,263		4.9%


REAL ESTATE — (0.3%)
	Other Securities				20,533,010		0.3%


UTILITIES — (0.1%)
	Other Securities				11,362,666		0.1%


TOTAL COMMON STOCKS					7,896,859,601		99.9%


PREFERRED STOCK — (0.0%)
INDUSTRIALS — (0.0%)
	Other Securities				305,478		0.0%


TOTAL PREFERRED STOCK					305,478		0.0%


RIGHT/WARRANT — (0.0%)
CONSUMER DISCRETIONARY — (0.0%)
	Other Securities				2,745		0.0%


TOTAL RIGHT/WARRANT					2,745		0.0%


TOTAL INVESTMENT SECURITIES — (99.3%)
(Cost $3,964,587,441)					7,897,167,824

DIMENSIONAL US MARKETWIDE VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

SECURITIES LENDING COLLATERAL — (0.7%)
@§	The DFA Short Term Investment Fund		4,975,274	$	57,561,428		0.7%


TOTAL INVESTMENTS — (100.0%)
(Cost $4,022,148,869)				$	7,954,729,252		100.6%

Summary of the Fund’s investments as of October 31, 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	$	632,142,898	$	—	$	272,742	$	632,415,640
Consumer Discretionary		401,747,507		—		—		401,747,507
Consumer Staples		512,603,821		—		18,966		512,622,787
Energy		1,181,687,471		—		—		1,181,687,471
Financials		1,676,738,145		—		15,750		1,676,753,895
Health Care		1,524,886,071		—		—		1,524,886,071
Industrials		1,041,189,573		—		—		1,041,189,573
Information Technology		506,792,718		—		—		506,792,718
Materials		386,868,263		—		—		386,868,263
Real Estate		20,533,010		—		—		20,533,010
Utilities		11,362,666		—		—		11,362,666
Preferred Stock
Industrials		305,478		—		—		305,478
Right/Warrant
Consumer Discretionary		—		—		2,745		2,745
Securities Lending Collateral		—		57,561,428		—		57,561,428

Total Investments	$	7,896,857,621	$	57,561,428	$	310,203	$	7,954,729,252

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 INTERNATIONAL VALUE ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2022


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (97.6%)
AUSTRALIA — (7.6%)
	Australia & New Zealand Banking Group, Ltd.		2,568,551	$	41,981,382		1.1%
	National Australia Bank, Ltd.		1,973,464		40,911,924		1.1%
	Santos, Ltd.		3,870,605		19,057,997		0.5%
	Westpac Banking Corp.		2,493,366		38,440,668		1.0%
	Woodside Energy Group, Ltd.		1,171,432		26,951,685		0.7%
	Other Securities				124,142,899		3.4%

TOTAL AUSTRALIA					291,486,555		7.8%

AUSTRIA — (0.1%)
	Other Securities				2,957,436		0.1%

BELGIUM — (0.6%)
	Other Securities				24,252,913		0.6%


CANADA — (10.6%)
	Bank of Montreal		456,627		42,046,214		1.1%
	Bank of Nova Scotia (The)		743,301		35,916,304		1.0%
#	Canadian Imperial Bank of Commerce		534,553		24,246,028		0.6%
	Manulife Financial Corp.		1,040,017		17,212,281		0.5%
	Nutrien, Ltd.		359,705		30,395,072		0.8%
	Suncor Energy, Inc.		861,644		29,631,937		0.8%
#	Teck Resources, Ltd., Class B		625,215		19,031,545		0.5%
	Other Securities				207,667,724		5.5%


TOTAL CANADA					406,147,105		10.8%


CHINA — (0.1%)
	Other Securities				3,345,971		0.1%


DENMARK — (1.9%)
	DSV A/S		132,045		17,880,519		0.5%
	Other Securities				54,457,650		1.4%


TOTAL DENMARK					72,338,169		1.9%


FINLAND — (1.1%)
	Other Securities				41,757,164		1.1%


FRANCE — (10.3%)
	BNP Paribas SA		601,169		28,219,810		0.8%
	Cie de Saint-Gobain		659,628		26,990,383		0.7%
	Cie Generale des Etablissements Michelin SCA		928,169		23,676,891		0.6%
	Engie SA		1,543,825		20,070,839		0.5%
	Orange SA		2,417,725		23,013,777		0.6%
	Sanofi		232,495		20,067,196		0.5%
	Societe Generale SA		805,059		18,479,621		0.5%
	TotalEnergies SE		2,284,015		124,382,754		3.3%
	Other Securities				107,966,798		3.0%


TOTAL FRANCE					392,868,069		10.5%


GERMANY — (6.5%)
	BASF SE		677,857		30,439,551		0.8%
	Bayerische Motoren Werke AG		306,827		24,114,572		0.6%
	Mercedes-Benz Group AG		879,811		50,956,152		1.4%
	Volkswagen AG, Preference		196,831		25,161,468		0.7%
	Other Securities				117,464,459		3.1%


TOTAL GERMANY					248,136,202		6.6%

DIMENSIONAL INTERNATIONAL VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
HONG KONG — (1.8%)
	Other Securities			$	70,011,132		1.9%


IRELAND — (0.5%)
	Other Securities				17,515,959		0.5%


ISRAEL — (0.7%)
	Other Securities				27,113,313		0.7%


ITALY — (2.1%)
	Other Securities				80,520,075		2.1%


JAPAN — (19.4%)
	Honda Motor Co., Ltd.		973,788		22,098,341		0.6%
	Mitsubishi Corp.		715,800		19,412,587		0.5%
	Mitsubishi UFJ Financial Group, Inc.		4,141,334		19,489,778		0.5%
	Takeda Pharmaceutical Co., Ltd.		1,013,094		26,705,031		0.7%
	Toyota Motor Corp.		4,041,340		55,997,172		1.5%
	Other Securities				595,634,657		15.9%


TOTAL JAPAN					739,337,566		19.7%


NETHERLANDS — (3.6%)
	Koninklijke Ahold Delhaize NV		1,448,000		40,429,338		1.1%
	Other Securities				98,575,321		2.6%


TOTAL NETHERLANDS					139,004,659		3.7%


NEW ZEALAND — (0.3%)
	Other Securities				9,742,510		0.3%


NORWAY — (0.9%)
	Other Securities				34,820,925		0.9%


PORTUGAL — (0.2%)
	Other Securities				5,582,619		0.1%


SINGAPORE — (1.1%)
	Other Securities				43,258,477		1.2%


SPAIN — (2.2%)
	Banco Santander SA		9,679,380		25,083,599		0.7%
	Repsol SA		1,343,843		18,255,885		0.5%
	Other Securities				40,952,436		1.0%


TOTAL SPAIN					84,291,920		2.2%


SWEDEN — (2.7%)
	Other Securities				101,347,438		2.7%


SWITZERLAND — (8.9%)
	Cie Financiere Richemont SA, Registered		334,551		32,741,369		0.9%
	Holcim AG		522,309		23,736,811		0.6%
	Novartis AG, Registered		354,588		28,664,671		0.8%
	Novartis AG, Sponsored ADR		802,302		65,090,761		1.7%
	Swisscom AG, Registered		34,648		17,113,671		0.4%
	UBS Group AG		1,374,597		21,825,977		0.6%
	Zurich Insurance Group AG		126,979		54,217,464		1.4%
	Other Securities				95,858,377		2.6%


TOTAL SWITZERLAND					339,249,101		9.0%

DIMENSIONAL INTERNATIONAL VALUE ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
UNITED KINGDOM — (14.4%)
	Anglo American PLC		590,887	$	17,745,999		0.5%
	Aviva PLC		3,669,095		17,662,178		0.5%
#	Barclays PLC, Sponsored ADR		2,449,351		16,949,509		0.4%
#	BP PLC, Sponsored ADR		1,016,907		33,842,665		0.9%
	British American Tobacco PLC		1,247,060		49,298,031		1.3%
	Glencore PLC		8,481,339		48,775,877		1.3%
#	HSBC Holdings PLC, Sponsored ADR		1,437,097		37,235,183		1.0%
	Lloyds Banking Group PLC		50,647,998		24,503,240		0.6%
	Shell PLC, ADR		2,991,666		166,426,380		4.4%
	Vodafone Group PLC		21,773,316		25,479,706		0.7%
	Other Securities				113,713,127		3.1%


TOTAL UNITED KINGDOM					551,631,895		14.7%


TOTAL COMMON STOCKS					3,726,717,173		99.2%


TOTAL INVESTMENT SECURITIES — (97.6%)
(Cost $3,808,594,318)					3,726,717,173


SECURITIES LENDING COLLATERAL — (2.4%)
@§	The DFA Short Term Investment Fund		7,945,138		91,921,276		2.4%


TOTAL INVESTMENTS — (100.0%)
(Cost $3,900,515,594)				$	3,818,638,449		101.6%

Summary of the Fund’s investments as of October 31, 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	$	288,911,792	$	2,574,763	$	—	$	291,486,555
Austria		2,957,436		—		—		2,957,436
Belgium		24,252,913		—		—		24,252,913
Canada		406,147,105		—		—		406,147,105
China		3,345,971		—		—		3,345,971
Denmark		72,338,169		—		—		72,338,169
Finland		41,757,164		—		—		41,757,164
France		392,868,069		—		—		392,868,069
Germany		248,136,202		—		—		248,136,202
Hong Kong		70,011,132		—		—		70,011,132
Ireland		17,515,959		—		—		17,515,959
Israel		27,113,313		—		—		27,113,313
Italy		80,520,075		—		—		80,520,075
Japan		739,337,566		—		—		739,337,566
Netherlands		139,004,659		—		—		139,004,659
New Zealand		9,742,510		—		—		9,742,510
Norway		34,820,925		—		—		34,820,925
Portugal		5,582,619		—		—		5,582,619
Singapore		43,258,477		—		—		43,258,477
Spain		84,291,920		—		—		84,291,920
Sweden		101,347,438		—		—		101,347,438
Switzerland		339,249,101		—		—		339,249,101
United Kingdom		551,631,895		—		—		551,631,895
Securities Lending Collateral		—		91,921,276		—		91,921,276

Total Investments	$	3,724,142,410	$	94,496,039	$	—	$	3,818,638,449

See accompanying Notes to Financial Statements.

DIMENSIONAL WORLD EX U.S. CORE EQUITY 2 ETF

SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS

October 31, 2022


		Shares		Value†		Percentage of Net Assets‡
COMMON STOCKS — (97.5%)
AUSTRALIA — (4.7%)
	BHP Group, Ltd.		326,632	$	7,803,210		0.2%
#	BHP Group, Ltd., Sponsored ADR		197,986		9,467,691		0.2%
	Commonwealth Bank of Australia		113,690		7,610,158		0.2%
	National Australia Bank, Ltd.		371,643		7,704,539		0.2%
	Other Securities				173,529,072		4.0%


TOTAL AUSTRALIA					206,114,670		4.8%


AUSTRIA — (0.4%)
	Other Securities				16,253,802		0.4%


BELGIUM — (0.8%)
	Other Securities				33,205,491		0.8%


BRAZIL — (1.9%)
	Vale SA		616,919		7,892,472		0.2%
	Other Securities				74,960,481		1.7%


TOTAL BRAZIL					82,852,953		1.9%


CANADA — (8.3%)
	Canadian National Railway Co.		62,381		7,388,406		0.2%
#	Canadian Natural Resources, Ltd.		304,343		18,242,319		0.4%
	National Bank of Canada		117,438		7,986,180		0.2%
	Nutrien, Ltd.		98,669		8,337,530		0.2%
	Royal Bank of Canada		165,456		15,299,716		0.4%
	Royal Bank of Canada		94,909		8,770,411		0.2%
	Suncor Energy, Inc.		273,243		9,396,827		0.2%
	Tourmaline Oil Corp.		150,317		8,458,878		0.2%
	Other Securities				283,277,059		6.5%


TOTAL CANADA					367,157,326		8.5%


CHILE — (0.1%)
	Other Securities				5,742,682		0.1%


CHINA — (7.6%)
	China Construction Bank Corp., Class H		21,357,200		11,345,379		0.3%
	Tencent Holdings, Ltd.		562,000		14,719,670		0.4%
	Other Securities				306,916,153		7.0%


TOTAL CHINA					332,981,202		7.7%


COLOMBIA — (0.0%)
	Other Securities				1,472,213		0.0%


CZECHIA — (0.0%)
	Other Securities				1,316,094		0.0%


DENMARK — (1.6%)
	Novo Nordisk A/S, Class B		162,189		17,636,658		0.4%
	Other Securities				50,832,132		1.2%


TOTAL DENMARK					68,468,790		1.6%

DIMENSIONAL WORLD EX U.S. CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

EGYPT — (0.0%)
	Other Securities			$	267,209		0.0%


FINLAND — (1.0%)
	Other Securities				45,876,691		1.1%


FRANCE — (5.2%)
	LVMH Moet Hennessy Louis Vuitton SE		27,933		17,641,197		0.4%
	Orange SA		891,338		8,484,445		0.2%
	TotalEnergies SE		445,930		24,284,430		0.6%
	Vinci SA		80,548		7,418,004		0.2%
	Other Securities				168,897,602		3.9%


TOTAL FRANCE					226,725,678		5.3%


GERMANY — (4.7%)
	Bayer AG, Registered		161,316		8,485,197		0.2%
	Deutsche Telekom AG		648,767		12,288,094		0.3%
	Mercedes-Benz Group AG		194,512		11,265,582		0.3%
	Other Securities				175,063,947		4.0%


TOTAL GERMANY					207,102,820		4.8%


GREECE — (0.1%)
	Other Securities				3,802,097		0.1%


HONG KONG — (1.3%)
	AIA Group, Ltd.		1,302,400		9,863,587		0.2%
	Other Securities				49,337,096		1.2%


TOTAL HONG KONG					59,200,683		1.4%


HUNGARY — (0.0%)
	Other Securities				1,951,982		0.1%


INDIA — (5.9%)
	Infosys, Ltd.		474,556		8,815,210		0.2%
	Reliance Industries, Ltd.		252,448		7,775,560		0.2%
	Other Securities				240,912,713		5.6%


TOTAL INDIA					257,503,483		6.0%


INDONESIA — (0.7%)
	Other Securities				32,133,613		0.8%


IRELAND — (0.5%)
#	CRH PLC, Sponsored ADR		238,781		8,646,260		0.2%
	Other Securities				14,015,271		0.3%


TOTAL IRELAND					22,661,531		0.5%


ISRAEL — (0.8%)
	Other Securities				33,583,734		0.8%


ITALY — (1.8%)
	Other Securities				77,644,567		1.8%


JAPAN — (14.7%)
	Hitachi, Ltd.		182,100		8,282,006		0.2%
	KDDI Corp.		357,700		10,576,859		0.3%
	Sony Group Corp.		142,900		9,602,618		0.2%
	Toyota Motor Corp.		1,344,600		18,630,899		0.5%

DIMENSIONAL WORLD EX U.S. CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡
JAPAN —(Continued)
	Other Securities			$	597,899,553		13.8%


TOTAL JAPAN					644,991,935		15.0%


KOREA, REPUBLIC OF — (3.8%)
	Samsung Electronics Co., Ltd.		671,272		27,992,247		0.7%
	Samsung Electronics Co., Ltd., GDR		10,449		10,799,042		0.3%
	Other Securities				126,298,216		2.8%


TOTAL KOREA, REPUBLIC OF					165,089,505		3.8%


MALAYSIA — (0.5%)
	Other Securities				22,082,255		0.5%


MEXICO — (0.8%)
	Other Securities				34,898,422		0.8%


NETHERLANDS — (2.1%)
	ASML Holding NV, Sponsored NYS		29,767		14,062,526		0.3%
	Koninklijke Ahold Delhaize NV		368,832		10,298,090		0.2%
	Other Securities				67,272,755		1.6%


TOTAL NETHERLANDS					91,633,371		2.1%


NEW ZEALAND — (0.3%)
	Other Securities				11,670,681		0.3%


NORWAY — (0.7%)
	Equinor ASA		227,828		8,334,676		0.2%
	Other Securities				23,200,949		0.5%


TOTAL NORWAY					31,535,625		0.7%


PERU — (0.0%)
	Other Securities				551,054		0.0%


PHILIPPINES — (0.2%)
	Other Securities				9,870,228		0.2%


POLAND — (0.2%)
	Other Securities				9,808,247		0.2%


PORTUGAL — (0.2%)
	Other Securities				8,804,018		0.2%


QATAR — (0.3%)
	Other Securities				13,508,800		0.3%


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


SAUDI ARABIA — (1.2%)
	Other Securities				52,193,364		1.2%


SINGAPORE — (0.7%)
	Other Securities				30,059,777		0.7%


SOUTH AFRICA — (1.4%)
	Other Securities				61,246,482		1.4%

DIMENSIONAL WORLD EX U.S. CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

SPAIN — (1.4%)
	Repsol SA		538,993	$	7,322,131		0.2%
	Other Securities				54,305,065		1.2%


TOTAL SPAIN					61,627,196		1.4%


SWEDEN — (1.9%)
	Other Securities				83,667,532		1.9%


SWITZERLAND — (5.4%)
	ABB, Ltd., Registered		320,031		8,902,986		0.2%
	Nestle SA, Registered		312,936		34,096,969		0.8%
	Novartis AG, Sponsored ADR		266,420		21,614,655		0.5%
	Roche Holding AG		66,958		22,250,195		0.5%
	Other Securities				150,500,001		3.5%


TOTAL SWITZERLAND					237,364,806		5.5%


TAIWAN — (4.9%)
	Taiwan Semiconductor Manufacturing Co., Ltd.		902,465		10,922,844		0.3%
	Taiwan Semiconductor Manufacturing Co., Ltd., Sponsored ADR		294,861		18,148,695		0.4%
	Other Securities				187,534,669		4.3%


TOTAL TAIWAN					216,606,208		5.0%


THAILAND — (0.7%)
	Other Securities				32,206,748		0.8%


TURKEY — (0.2%)
	Other Securities				10,795,287		0.3%


UNITED ARAB EMIRATES — (0.4%)
	Other Securities				16,657,872		0.4%


UNITED KINGDOM — (8.1%)
	Anglo American PLC		246,681		7,408,525		0.2%
	AstraZeneca PLC, Sponsored ADR		186,935		10,993,647		0.3%
	BP PLC, Sponsored ADR		546,840		18,198,835		0.4%
	Glencore PLC		1,731,073		9,955,339		0.2%
#	Rio Tinto PLC, Sponsored ADR		143,573		7,659,620		0.2%
	Shell PLC, ADR		414,955		23,083,947		0.5%
	Unilever PLC, Sponsored ADR		222,631		10,131,937		0.2%
	Other Securities				268,633,621		6.3%


TOTAL UNITED KINGDOM					356,065,471		8.3%


UNITED STATES — (0.0%)
	Other Securities				964,321		0.0%


TOTAL COMMON STOCKS					4,287,918,516		99.5%


PREFERRED STOCK — (0.0%)

PHILIPPINES — (0.0%)
	Other Securities				36,836		0.0%


TOTAL PREFERRED STOCK					36,836		0.0%


RIGHTS/WARRANTS — (0.0%)

AUSTRALIA — (0.0%)
	Other Securities				709		0.0%

DIMENSIONAL WORLD EX U.S. CORE EQUITY 2 ETF

CONTINUED


		Shares		Value†		Percentage of Net Assets‡

BRAZIL — (0.0%)
	Other Securities			$	6,557		0.0%


HONG KONG — (0.0%)
	Other Securities				75		0.0%

INDONESIA — (0.0%)
	Other Securities				176		0.0%


ITALY — (0.0%)
	Other Securities				—		0.0%


KOREA, REPUBLIC OF — (0.0%)
	Other Securities				6,158		0.0%


MALAYSIA — (0.0%)
	Other Securities				9,650		0.0%


SAUDI ARABIA — (0.0%)
	Other Securities				8,902		0.0%


SINGAPORE — (0.0%)
	Other Securities				—		0.0%


TAIWAN — (0.0%)
	Other Securities				10,378		0.0%


THAILAND — (0.0%)
	Other Securities				96,342		0.0%


TOTAL RIGHTS/WARRANTS					138,947		0.0%


TOTAL INVESTMENT SECURITIES — (97.5%)
(Cost $4,413,609,636)					4,288,094,299


SECURITIES LENDING COLLATERAL — (2.5%)
@§	The DFA Short Term Investment Fund		9,393,608		108,679,350		2.5%


TOTAL INVESTMENTS — (100.0%)
(Cost $4,522,288,986)				$	4,396,773,649		102.0%


Summary of the Fund’s investments as of October 31, 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	$	205,427,719	$	686,951	$	—	$	206,114,670
Austria		15,967,589		286,213		—		16,253,802
Belgium		33,205,491		—		—		33,205,491
Brazil		82,852,953		—		—		82,852,953
Canada		367,157,326		—		—		367,157,326
Chile		5,742,682		—		—		5,742,682
China		331,761,285		1,137,813		82,104		332,981,202
Colombia		1,457,822		14,391		—		1,472,213
Czechia		1,316,094		—		—		1,316,094
Denmark		68,468,790		—		—		68,468,790
Egypt		267,209		—		—		267,209

DIMENSIONAL WORLD EX U.S. CORE EQUITY 2 ETF

CONTINUED


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Finland	$	45,876,691	$	—	$	—	$	45,876,691
France		226,724,135		—		1,543		226,725,678
Germany		207,102,820		—		—		207,102,820
Greece		3,798,580		—		3,517		3,802,097
Hong Kong		59,105,357		1,719		93,607		59,200,683
Hungary		1,951,982		—		—		1,951,982
India		257,287,165		215,985		333		257,503,483
Indonesia		32,057,840		61,191		14,582		32,133,613
Ireland		22,661,531		—		—		22,661,531
Israel		33,583,734		—		—		33,583,734
Italy		77,644,567		—		—		77,644,567
Japan		644,991,935		—		—		644,991,935
Korea, Republic of		164,841,727		164,708		83,070		165,089,505
Malaysia		22,082,255		—		—		22,082,255
Mexico		34,897,853		—		569		34,898,422
Netherlands		91,633,371		—		—		91,633,371
New Zealand		11,670,681		—		—		11,670,681
Norway		31,535,625		—		—		31,535,625
Peru		551,054		—		—		551,054
Philippines		9,870,092		136		—		9,870,228
Poland		9,698,540		109,707		—		9,808,247
Portugal		8,804,018		—		—		8,804,018
Qatar		13,508,800		—		—		13,508,800
Russian Federation		—		—		—		—
Saudi Arabia		52,193,364		—		—		52,193,364
Singapore		29,967,508		—		92,269		30,059,777
South Africa		61,246,482		—		—		61,246,482
Spain		61,501,974		125,222		—		61,627,196
Sweden		83,667,532		—		—		83,667,532
Switzerland		237,360,604		4,202		—		237,364,806
Taiwan		216,552,975		47,131		6,102		216,606,208
Thailand		4,649,950		27,556,798		—		32,206,748
Turkey		10,795,287		—		—		10,795,287
United Arab Emirates		16,588,592		69,280		—		16,657,872
United Kingdom		356,065,471		—		—		356,065,471
United States		964,321		—		—		964,321
Preferred Stock
Philippines		36,836		—		—		36,836
Rights/Warrants
Australia		709		—		—		709
Brazil		4,175		2,382		—		6,557
Hong Kong		75		—		—		75
Indonesia		176		—		—		176
Italy		—		—		—		—
Korea, Republic of		—		6,158		—		6,158
Malaysia		9,650		—		—		9,650
Saudi Arabia		—		8,902		—		8,902
Singapore		—		—		—		—
Taiwan		—		10,378		—		10,378
Thailand		67,798		28,544		—		96,342
Securities Lending Collateral		—		108,679,350		—		108,679,350

Total Investments	$	4,257,178,792	$	139,217,161	$	377,696	$	4,396,773,649

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.

DIMENSIONAL ETF TRUST

STATEMENTS OF ASSETS AND LIABILITIES

OCTOBER 31, 2022

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


	Dimensional U.S. Equity ETF		Dimensional U.S. Small Cap ETF		Dimensional U.S. Targeted Value ETF
ASSETS:
Investment Securities at Value (including $961, $3,532 and $4,109 of securities on loan, respectively)	$	5,463,433	$	4,672,435	$	7,180,092
Collateral from Securities on Loan Invested in Affiliate at Value (Cost of $99,230, $363,402 and $422,070, respectively) (Note G)		99,230		363,402		422,070
Cash		7,111		5,372		7,718
Receivables:
Investment Securities Sold		456		500		1,228
Dividends and Interest		3,953		1,420		2,874
Receivable for Capital Shares Issued		9		43		30
Prepaid Expenses and Other Assets		1		—		1

Total Assets		5,574,193		5,043,172		7,614,013

LIABILITIES:
Payables:
Investment Securities Purchased		106		539		1,826
Upon Return of Securities Loaned		99,230		363,402		422,070
Accrued Expenses and Other Liabilities:
Advisory Fee		340		887		1,488
Administration and Accounting		143		84		144
Chief Compliance Officer		1		1		1
Custodian		9		6		9
Transfer Agent		3		9		10
Trustee		14		9		13
Other Expenses		84		121		157

Total Liabilities		99,930		365,058		425,718

NET ASSETS	$	5,474,263	$	4,678,114	$	7,188,295

SHARES OUTSTANDING, $0.01 PAR VALUE		130,165		89,786		162,179

Net Asset Value, Offering and Redemption price per share	$	42.06	$	52.10	$	44.32

Investment Securities at Cost	$	2,228,091	$	2,918,471	$	4,942,333

NET ASSETS CONSIST OF:
Paid-In Capital	$	2,327,481	$	2,988,193	$	5,005,286
Total Distributable Earnings (Loss)		3,146,782		1,689,921		2,183,009

NET ASSETS	$	5,474,263	$	4,678,114	$	7,188,295

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF ASSETS AND LIABILITIES

OCTOBER 31, 2022

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


	Dimensional U.S. Core Equity 2 ETF		Dimensional US Marketwide Value ETF		Dimensional International Value ETF
ASSETS:
Investment Securities at Value (including $5,773, $567 and $1,119 of securities on loan, respectively)	$	15,411,404	$	7,897,168	$	3,726,717
Collateral from Securities on Loan Invested in Affiliate at Value (Cost of $556,321, $57,561 and $91,921, respectively) (Note G)		556,321		57,561		91,921
Foreign Currencies at Value		—		—		2,606
Cash		12,332		3,951		5,888
Receivables:
Investment Securities Sold		5,079		1,438		529
Dividends and Interest		11,846		6,709		13,735
Receivable for Capital Shares Issued		25		22		551
Receivable for Tax Reclaims		—		—		9,195
Prepaid Expenses and Other Assets		2		432		—

Total Assets		15,997,009		7,967,281		3,851,142

LIABILITIES:
Payables:
Investment Securities Purchased		173		3,620		273
Upon Return of Securities Loaned		556,321		57,561		91,921
Accrued Expenses and Other Liabilities:
Advisory Fee		1,971		1,259		728
Administration and Accounting		423		362		161
Chief Compliance Officer		3		1		1
Custodian		20		83		95
Transfer Agent		9		5		5
Trustee		32		13		7
Other Expenses		324		366		295

Total Liabilities		559,276		63,270		93,486

NET ASSETS	$	15,437,733	$	7,904,011	$	3,757,656

SHARES OUTSTANDING, $0.01 PAR VALUE		631,989		236,330		135,645

Net Asset Value, Offering and Redemption price per share	$	24.43	$	33.44	$	27.70

Investment Securities at Cost	$	8,851,357	$	3,964,587	$	3,808,594

Foreign Currencies at Cost	$	—	$	—	$	2,599

NET ASSETS CONSIST OF:
Paid-In Capital	$	9,148,458	$	7,583,443	$	4,209,707
Total Distributable Earnings (Loss)		6,289,275		320,568		(452,051	)

NET ASSETS	$	15,437,733	$	7,904,011	$	3,757,656

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF ASSETS AND LIABILITIES

OCTOBER 31, 2022

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


	Dimensional World ex U.S. Core Equity 2 ETF
ASSETS:
Investment Securities at Value (including $1,453 of securities on loan)	$	4,288,094
Collateral from Securities on Loan Invested in Affiliate at Value (Cost of $108,679) (Note G)		108,679
Foreign Currencies at Value		9,308
Cash		1,363
Receivables:
Investment Securities Sold		317
Dividends and Interest		10,016
Receivable for Capital Shares Issued		1
Receivable for Tax Reclaims		5,414
Prepaid Expenses and Other Assets		14

Total Assets		4,423,206

LIABILITIES:
Payables:
Investment Securities Purchased		316
Upon Return of Securities Loaned		108,679
Accrued Expenses and Other Liabilities:
Advisory Fee		900
Administration and Accounting		181
Chief Compliance Officer		1
Custodian		699
Transfer Agent		8
Trustee		10
Other Expenses		329

Total Liabilities		111,123

NET ASSETS	$	4,312,083

SHARES OUTSTANDING, $0.01 PAR VALUE		219,818

Net Asset Value, Offering and Redemption price per share	$	19.62

Investment Securities at Cost	$	4,413,610

Foreign Currencies at Cost	$	9,394

NET ASSETS CONSIST OF:
Paid-In Capital	$	4,543,193
Total Distributable Earnings (Loss)		(231,110	)

NET ASSETS	$	4,312,083

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED OCTOBER 31, 2022

(Amounts in thousands)


	Dimensional U.S. Equity ETF (a)			Dimensional U.S. Small Cap ETF (a)			Dimensional U.S. Targeted Value ETF (a)




INVESTMENT INCOME:
Dividends (Net of Foreign Taxes Withheld of ($15), ($39) and ($86), respectively)	$	83,960		$	61,004		$	121,058
Income from Securities Lending		195			544			555

Total Investment Income		84,155			61,548			121,613

EXPENSES:
Investment Management Fees (Note D)		4,541			11,454			18,750
Administration and Accounting		273			200			320
Chief Compliance Officer		3			3			4
Filing Fees		5			18			28
Transfer Agency		1			9			9
Trustees’ Fees & Expenses		29			21			32
Professional Fees		144			108			155
Other Expenses		232			202			299

Total Expenses		5,228			12,015			19,597
Fees Paid Indirectly (Note D)		(12	)		(14	)		(21	)

Net Expenses		5,216			12,001			19,576

Net Investment Income (Loss)		78,939			49,547			102,037

Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) from:
Investment Securities Sold		(72,112	)		(71,064	)		(51,299	)
In-Kind Transactions		73,834			213,343			822,794
Futures Contracts		—			273			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities		(1,021,542	)		(661,303	)		(1,069,427	)

Net Realized and Unrealized Gain (Loss)		(1,019,820	)		(518,751	)		(297,932	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(940,881	)	$	(469,204	)	$	(195,895	)

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

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED OCTOBER 31, 2022

(Amounts in thousands)


	Dimensional U.S. Core Equity 2 ETF (a)			Dimensional US Marketwide Value ETF (a)(b)			Dimensional International Value ETF (a)




INVESTMENT INCOME:
Dividends (Net of Foreign Taxes Withheld of ($55), ($21) and ($20,639), respectively)	$	234,926		$	166,041		$	156,910
Non-cash Dividends		—			—			15,988
Income from Securities Lending		715			94			670

Total Investment Income		235,641			166,135			173,568

EXPENSES:
Investment Management Fees (Note D)		23,481			15,950			10,000
Administration and Accounting		685			178			175
Chief Compliance Officer		8			3			2
Custodian		—			103			318
Filing Fees		30			2			17
Transfer Agency		—			563			16
Trustees’ Fees & Expenses		71			—			20
Organization Fees		—			160			—
Professional Fees		413			454			288
Other Expenses		603			515			235

Total Expenses		25,291			17,928			11,071

Fees Paid Indirectly (Note D)		(33	)		—			(24	)

Net Expenses		25,258			17,928			11,047

Net Investment Income (Loss)		210,383			148,207			162,521

Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) from:
Investment Securities Sold and Foreign Currency Transactions		(282,256	)		(56,543	)		33,507
In-Kind Transactions		321,057			457,312			—
Futures Contracts		—			—			2,060
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(2,095,906	)		(1,068,720	)		(777,475	)

Net Realized and Unrealized Gain (Loss)		(2,057,105	)		(667,951	)		(741,908	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(1,846,722	)	$	(519,744	)	$	(579,387	)

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

(b)	During the fiscal year the Fund converted from a Mutual Fund to an ETF pursuant to an Agreement and Plan of Reorganization. See Note A in the Notes to Financial Statements for additional information about the Reorganization.

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED OCTOBER 31, 2022

(Amounts in thousands)


	Dimensional World ex U.S. Core Equity 2 ETF (a)




INVESTMENT INCOME:
Dividends (Net of Foreign Taxes Withheld of ($20,077))	$	155,395
Non-cash Dividends		9,384
Income from Securities Lending		2,315

Total Investment Income		167,094

EXPENSES:
Investment Management Fees (Note D)		11,562
Administration and Accounting		220
Chief Compliance Officer		3
Custodian		1,445
Filing Fees		44
Transfer Agency		15
Trustees’ Fees & Expenses		27
Professional Fees		338
Other Expenses		363

Total Expenses		14,017

Fees Paid Indirectly (Note D)		(5	)

Net Expenses		14,012

Net Investment Income (Loss)		153,082

Realized and Unrealized Gain (Loss)
Net Realized Gain (Loss) from:
Investment Securities Sold and Foreign Currency Transactions*		(37,397	)
In-Kind Transactions		10,196
Futures Contracts		974
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency Translations		(1,339,804	)

Net Realized and Unrealized Gain (Loss)		(1,366,031	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(1,212,949	)

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

*	Net of foreign capital gain taxes withheld of $94

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional U.S. Equity ETF						Dimensional U.S. Small Cap ETF
	Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2022			Year ended October 31, 2021
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	78,939		$	64,175		$	49,547		$	37,839
Net Realized Gain (Loss) on:
Investment Securities Sold		(72,112	)		4,833			(71,064	)		179,860
In-Kind Transactions		73,834			—			213,343			—
Futures		—			—			273			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities		(1,021,542	)		1,759,540			(661,303	)		1,319,390

Change in Net Assets Resulting from Operations		(940,881	)		1,828,548			(469,204	)		1,537,089

Distributions:
Total Distributions		(77,302	)		(63,460	)		(138,807	)		(31,370	)

Change in Net Assets Resulting from Distributions		(77,302	)		(63,460	)		(138,807	)		(31,370	)

Capital Share Transactions:
Shares Issued		537,391			387,665			1,290,719			393,443
Dividends Reinvested		—			34,001			—			16,598
Cost of Shares Redeemed		(86,185	)		(343,507	)		(294,832	)		(342,665	)

Change in Net Assets Resulting from Capital Share Transactions		451,206			78,159			995,887			67,376

Change in Net Assets		(566,977	)		1,843,247			387,876			1,573,095
Net Assets:
Beginning of Period		6,041,240			4,197,993			4,290,238			2,717,143

End of Period	$	5,474,263		$	6,041,240		$	4,678,114		$	4,290,238

Share Transactions:
Issued		12,040			8,862			24,240			7,126
Reinvested		—			817			—			328
Redeemed		(1,880	)		(8,153	)		(5,700	)		(6,614	)

Change in Shares		10,160			1,526			18,540			840

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional U.S. Targeted Value ETF						Dimensional U.S. Core Equity 2 ETF
	Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2022			Year ended October 31, 2021
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	102,037		$	85,944		$	210,383		$	157,107
Net Realized Gain (Loss) on:
Investment Securities Sold		(51,299	)		125,594			(282,256	)		68,049
In-Kind Transactions		822,794			—			321,057			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities		(1,069,427	)		2,294,406			(2,095,906	)		4,211,180

Change in Net Assets Resulting from Operations		(195,895	)		2,505,944			(1,846,722	)		4,436,336

Distributions:
Total Distributions		(107,145	)		(69,616	)		(199,823	)		(138,569	)

Change in Net Assets Resulting from Distributions		(107,145	)		(69,616	)		(199,823	)		(138,569	)

Capital Share Transactions:
Shares Issued		2,280,354			689,104			3,421,282			1,511,919
Dividends Reinvested		—			38,245			—			67,133
Cost of Shares Redeemed		(1,238,223	)		(582,963	)		(394,942	)		(948,003	)

Change in Net Assets Resulting from Capital Share Transactions		1,042,131			144,386			3,026,340			631,049

Change in Net Assets		739,091			2,580,714			979,795			4,928,816
Net Assets:
Beginning of Period		6,449,204			3,868,490			14,457,938			9,529,122

End of Period	$	7,188,295		$	6,449,204		$	15,437,733		$	14,457,938

Share Transactions:
Issued		51,500			16,164			134,100			59,797
Reinvested		—			996			—			2,821
Redeemed		(28,050	)		(14,771	)		(16,100	)		(39,217	)

Change in Shares		23,450			2,389			118,000			23,401

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional US Marketwide Value ETF (a)						Dimensional International Value ETF
	Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2022			Year ended October 31, 2021
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	148,207		$	37,588		$	162,521		$	110,177
Net Realized Gain (Loss) on:
Investment Securities Sold and Foreign Currency Transactions		(56,543	)		17,512			33,507			154,431
In-Kind Transactions		457,312			—			—			—
Futures		—			—			2,060			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency		(1,068,720	)		744,602			(777,475	)		886,334

Change in Net Assets Resulting from Operations		(519,744	)		799,702			(579,387	)		1,150,942

Distributions:
Total Distributions		(137,580	)		(33,697	)		(175,333	)		(81,899	)

Change in Net Assets Resulting from Distributions		(137,580	)		(33,697	)		(175,333	)		(81,899	)

Capital Share Transactions:
Shares Issued		1,137,436			619,168			895,407			476,851
Shares Issued in Reorganization		—			5,546,391			—			—
Share Issues in Lieu of Cash Distributions		63,135			33,496			—			62,669
Cost of Shares Redeemed		(960,008	)		(208,075	)		—			(384,302	)

Change in Net Assets Resulting from Capital Share Transactions		240,563			5,990,980			895,407			155,218

Change in Net Assets		(416,761	)		6,756,985			140,687			1,224,261
Net Assets:
Beginning of Period		8,320,772			1,563,787			3,616,969			2,392,708

End of Period	$	7,904,011		$	8,320,772		$	3,757,656		$	3,616,969

Share Transactions:
Issued		34,127			17,677			28,500			21,950
Issued in Reorganization		—			154,324			—			—
Issued in Lieu of Cash Distributions		1,736			1,005			—			2,212
Redeemed		(28,628	)		(6,307	)		—			(122,094	)

Change in Shares		7,235			166,699			28,500			(97,932	)

(a)	During the fiscal year 2022, the Fund converted from a Mutual Fund to an ETF pursuant to an Agreement and Plan of Reorganization. See Note A in the Notes to Financial Statements for additional information about the Reorganization.

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

STATEMENTS OF CHANGES IN NET ASSETS

(Amounts in thousands)


	Dimensional World ex U.S. Core Equity 2 ETF
	Year ended October 31, 2022			Year ended October 31, 2021
Increase (Decrease) in Net Assets:
Operations:
Net Investment Income (Loss)	$	153,082		$	102,233
Net Realized Gain (Loss) on:
Investment Securities Sold and Foreign Currency Transactions,*		(37,397	)		86,550
In-Kind Transactions		10,196			—
Futures		974			—
Change in Unrealized Appreciation (Depreciation) on:
Investment Securities and Foreign Currency		(1,339,804	)		943,482

Change in Net Assets Resulting from Operations		(1,212,949	)		1,132,265

Distributions:
Total Distributions		(156,347	)		(79,477	)

Change in Net Assets Resulting from Distributions		(156,347	)		(79,477	)

Capital Share Transactions:
Shares Issued		1,043,843			712,699
Dividends Reinvested		—			57,429
Cost of Shares Redeemed		(26,868	)		(352,850	)

Change in Net Assets Resulting from Capital Share Transactions		1,016,975			417,278

Change in Net Assets		(352,321	)		1,470,066
Net Assets:
Beginning of Period		4,664,404			3,194,338

End of Period	$	4,312,083		$	4,664,404

Share Transactions:
Issued		44,000			37,328
Reinvested		—			2,568
Redeemed		(1,400	)		(185,130	)

Change in Shares		42,600			(145,234	)

*	Net of foreign capital gain taxes withheld for the fiscal year ended October 31, 2022 of $94.

**	Net of foreign capital gain taxes withheld for the fiscal year ended October 31, 2021 of $6,856.

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

FINANCIAL HIGHLIGHTS

(for a share outstanding throughout each period.)


	Dimensional U.S. Equity ETF															Dimensional U.S. Small Cap ETF
	Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2020			Year ended October 31, 2019			Year ended October 31, 2018			Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2020			Year ended October 31, 2019			Year ended October 31, 2018
Net Asset Value, Beginning of Period	$	50.34		$	35.43		$	32.60		$	29.44		$	28.01		$	60.22		$	38.59		$	42.03		$	42.82		$	44.35

Income From Investment Operations (a)
Net Investment Income (Loss)		0.63			0.54			0.53			0.52			0.47			0.62			0.55			0.40			0.41			0.39
Net Gains (Losses) on Securities (Realized and Unrealized)		(8.29	)		14.91			2.83			3.25			1.40			(6.88	)		21.53			(2.74	)		0.35			(0.30	)

Total from Investment Operations		(7.66	)		15.45			3.36			3.77			1.87			(6.26	)		22.08			(2.34	)		0.76			0.09
Less Distributions:
Net Investment Income		(0.62	)		(0.54	)		(0.53	)		(0.56	)		(0.44	)		(0.57	)		(0.45	)		(0.39	)		(0.38	)		(0.38	)
Net Realized Gains		—			—			—			(0.05	)		—			(1.29	)		—			(0.71	)		(1.17	)		(1.24	)

Total Distributions		(0.62	)		(0.54	)		(0.53	)		(0.61	)		(0.44	)		(1.86	)		(0.45	)		(1.10	)		(1.55	)		(1.62	)
Net Asset Value, End of Period	$	42.06		$	50.34		$	35.43		$	32.60		$	29.44		$	52.10		$	60.22		$	38.59		$	42.03		$	42.82
Total Return at NAV (b)		(15.30	)%		43.83	%		10.47	%		13.03	%		6.68	%		(10.58	)%		57.38	%		(5.68	)%		2.18	%		0.12	%
Total Return at Market (c)		(15.19	)%		43.80	%		—	%		—	%		—	%		(10.55	)%		57.51	%		—	%		—	%		—	%
Net Assets, End of Year (thousands)	$	5,474,263		$	6,041,240		$	4,197,993		$	4,010,197		$	3,562,284		$	4,678,114		$	4,290,238		$	2,717,143		$	3,115,850		$	2,985,680
Ratio of Expenses to Average Net Assets		0.09	%		0.17	%		0.22	%		0.22	%		0.21	%		0.28	%		0.39	%		0.46	%		0.50	%		0.52	%
Ratio of Expenses to Average Net Assets (Excluding Fees Waived, Expenses Reimbursed, Previously Waived Fees Recovered by Advisor and/or Fees Paid Indirectly)		0.09	%		0.17	%		0.22	%		0.23	%		0.21	%		0.28	%		0.39	%		0.46	%		0.50	%		0.52	%
Ratio of Net Investment Income to Average Net Assets		1.39	%		1.21	%		1.57	%		1.71	%		1.58	%		1.15	%		1	%		1.04	%		0.99	%		0.86	%
Portfolio Turnover Rate (d)		4	%		1	%		2	%		2	%		1	%		9	%		11	%		12	%		11	%		12	%

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 U.S. Targeted Value ETF															Dimensional U.S. Core Equity 2 ETF
	Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2020			Year ended October 31, 2019			Year ended October 31, 2018			Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2020			Year ended October 31, 2019			Year ended October 31, 2018
Net Asset Value, Beginning of Period	$	46.49		$	28.37		$	34.02		$	35.17		$	37.94		$	28.13		$	19.42		$	19.24		$	17.87		$	17.56

Income From Investment Operations (a)
Net Investment Income (Loss)		0.68			0.64			0.45			0.45			0.41			0.37			0.32			0.30			0.30			0.28
Net Gains (Losses) on Securities (Realized and Unrealized)		(2.13	)		18.00			(5.03	)		0.05			(1.33	)		(3.72	)		8.67			0.51			1.48			0.44

Total from Investment Operations		(1.45	)		18.64			(4.58	)		0.50			(0.92	)		(3.35	)		8.99			0.81			1.78			0.72
Less Distributions:
Net Investment Income		(0.69	)		(0.52	)		(0.43	)		(0.43	)		(0.40	)		(0.35	)		(0.28	)		(0.28	)		(0.31	)		(0.27	)
Net Realized Gains		(0.03	)		—			(0.64	)		(1.22	)		(1.45	)		—			—			(0.35	)		(0.10	)		(0.14	)

Total Distributions		(0.72	)		(0.52	)		(1.07	)		(1.65	)		(1.85	)		(0.35	)		(0.28	)		(0.63	)		(0.41	)		(0.41	)
Net Asset Value, End of Period	$	44.32		$	46.49		$	28.37		$	34.02		$	35.17		$	24.43		$	28.13		$	19.42		$	19.24		$	17.87
Total Return at NAV (b)		(3.07	)%		65.98	%		(13.70	)%		1.93	%		(2.66	)%		(11.95	)%		46.47	%		4.31	%		10.25	%		4.05	%
Total Return at Market (c)		(3.05	)%		66.13	%		—	%		—	%		—	%		(12.01	)%		46.57	%		—	%		—	%		—	%
Net Assets, End of Year (thousands)	$	7,188,295		$	6,449,204		$	3,868,490		$	4,743,286		$	4,603,040		$	15,437,733		$	14,457,938		$	9,529,122		$	10,121,793		$	9,113,032
Ratio of Expenses to Average Net Assets		0.29	%		0.38	%		0.45	%		0.45	%		0.44	%		0.17	%		0.21	%		0.24	%		0.25	%		0.23	%
Ratio of Expenses to Average Net Assets (Excluding Fees Waived, Expenses Reimbursed, Previously Waived Fees Recovered by Advisor and/or Fees Paid Indirectly)		0.29	%		—			—			—			—			0.17	%		0.21	%		0.24	%		0.25	%		0.23	%
Ratio of Net Investment Income to Average Net Assets		1.52	%		1.53	%		1.55	%		1.36	%		1.07	%		1.43	%		1.25	%		1.59	%		1.64	%		1.49	%
Portfolio Turnover Rate (d)		8	%		6	%		14	%		24	%		14	%		6	%		2	%		3	%		6	%		1	%

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 US Marketwide Value ETF															Dimensional International Value ETF
	Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2020			Year ended October 31, 2019			Year ended October 31, 2018			Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2020			Year ended October 31, 2019			Year ended October 31, 2018
Net Asset Value, Beginning of Period	$	36.32		$	25.06		$	28.74		$	28.02		$	28.30		$	33.76		$	11.67		$	14.61		$	14.61		$	16.39

Income From Investment Operations (a)
Net Investment Income (Loss)		0.64			0.54			0.57			0.60			0.58			1.34			0.78			0.30			0.51			0.47
Net Gains (Losses) on Securities (Realized and Unrealized)		(2.93	)		11.26			(3.22	)		1.66			0.63			(5.95	)		22.06			(2.88	)		(0.01	)		(1.79	)

Total from Investment Operations		(2.29	)		11.80			(2.65	)		2.26			1.21			(4.61	)		22.84			(2.58	)		0.50			(1.32	)
Less Distributions:
Net Investment Income		(0.59	)		(0.54	)		(0.55	)		(0.56	)		(0.54	)		(1.45	)		(0.75	)		(0.36	)		(0.50	)		(0.46	)
Net Realized Gains		—			—			(0.48	)		(0.98	)		(0.95	)		—			—			—			—			—

Total Distributions		(0.59	)		(0.54	)		(1.03	)		(1.54	)		(1.49	)		(1.45	)		(0.75	)		(0.36	)		(0.50	)		(0.46	)
Net Asset Value, End of Period	$	33.44		$	36.32		$	25.06		$	28.74		$	28.02		$	27.70		$	33.76		$	11.67		$	14.61		$	14.61
Total Return at NAV (b)		(6.28	)%		47.30	%		(9.41	)%		8.82	%		4.27	%		(13.97	)%		48.18	%		(17.77	)%		3.52	%		(8.27	)%
Total Return at Market (c)		(6.29	)%		—	%		—	%		—	%		—	%		(14.08	)%		48.68	%		—	%		—	%		—	%
Net Assets, End of Year (thousands)	$	7,904,011		$	8,320,772		$	1,563,787		$	1,917,021		$	1,841,678		$	3,757,656		$	3,616,969		$	2,392,708		$	3,821,142		$	3,668,647
Ratio of Expenses to Average Net Assets		0.22	%		0.23	%		0.24	%		0.24	%		0.22	%		0.29	%		0.48	%		0.52	%		0.54	%		0.53	%
Ratio of Expenses to Average Net Assets (Excluding Fees Waived, Expenses Reimbursed, Previously Waived Fees Recovered by Advisor and/or Fees Paid Indirectly)		0.22	%		0.41	%		0.44	%		0.44	%		0.42	%		0.29	%		0.48	%		0.52	%		0.55	%		0.53	%
Ratio of Net Investment Income to Average Net Assets		1.86	%		1.62	%		2.18	%		2.18	%		1.98	%		4.31	%		3.34	%		2.34	%		3.58	%		2.89	%
Portfolio Turnover Rate (d)		3	%		—	%		N/A			N/A			N/A			12	%		14	%		16	%		17	%		21	%

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 World ex U.S. Core Equity 2 ETF
	Year ended October 31, 2022			Year ended October 31, 2021			Year ended October 31, 2020			Year ended October 31, 2019			Year ended October 31, 2018
Net Asset Value, Beginning of Period	$	26.32		$	9.91		$	10.64		$	10.11		$	11.53

Income From Investment Operations (a)
Net Investment Income (Loss)		0.76			0.45			0.22			0.30			0.29
Net Gains (Losses) on Securities (Realized and Unrealized)		(6.69	)		16.41			(0.72	)		0.53			(1.44	)

Total from Investment Operations		(5.93	)		16.86			(0.50	)		0.83			(1.15	)
Less Distributions:
Net Investment Income		(0.77	)		(0.45	)		(0.23	)		(0.30	)		(0.27	)

Total Distributions		(0.77	)		(0.45	)		(0.23	)		(0.30	)		(0.27	)
Net Asset Value, End of Period	$	19.62		$	26.32		$	9.91		$	10.64		$	10.11
Total Return at NAV (b)		(22.87	)%		35.23	%		(4.69	)%		8.40	%		(10.19	)%
Total Return at Market (c)		(22.69	)%		35.23	%		—	%		—	%		—	%
Net Assets, End of Year (thousands)	$	4,312,083		$	4,664,404		$	3,194,338		$	3,957,333		$	3,348,703
Ratio of Expenses to Average Net Assets		0.30	%		0.36	%		0.36	%		0.37	%		0.36	%
Ratio of Expenses to Average Net Assets (Excluding Fees Waived, Expenses Reimbursed, Previously Waived Fees Recovered by Advisor and/or Fees Paid Indirectly)		0.30	%		0.39	%		0.36	%		0.38	%		0.36	%
Ratio of Net Investment Income to Average Net Assets		3.28	%		2.39	%		2.17	%		2.95	%		2.47	%
Portfolio Turnover Rate (d)		8	%		10	%		8	%		8	%		6	%

See page 3 for the Definitions of Abbreviations and Footnotes.

See accompanying Notes to Financial Statements.

DIMENSIONAL ETF TRUST

NOTES TO FINANCIAL STATEMENTS

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 October 31, 2022, the Trust is comprised of twenty-four 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 the following (individually referred to as a “Fund” or collectively as the “Funds”):


Fund		Short Name
Dimensional U.S. Equity ETF		US Equity ETF
Dimensional U.S. Small Cap ETF		US Small Cap ETF
Dimensional U.S. Targeted Value ETF		US Targeted Value ETF
Dimensional U.S. Core Equity 2 ETF		US Core Equity 2 ETF
Dimensional US Marketwide Value ETF		US Marketwide Value ETF
Dimensional International Value ETF		International Value ETF
Dimensional World ex U.S. Core Equity 2 ETF		World ex US Core Equity 2 ETF

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 Codification (“ASC”) Topic 946, “Financial Services – Investment Companies”.

The Fund identified below as “Acquiring Fund” became a series of the Trust as of the date indicated following a reorganization (“Reorganization”), pursuant to an Agreement and Plan of Reorganization dated as shown below, which resulted in the conversion of the corresponding “Target Fund” organized as a mutual fund to an ETF. The Acquiring Fund was established as a “shell” fund, organized solely in connection with the Reorganization for the purpose of acquiring the assets and liabilities of the corresponding Target Fund and continuing the operations of the Target Fund as an ETF. The Acquiring Fund had no performance history prior to the Reorganization.


Acquiring Fund	Target Fund	Date
Dimensional US Marketwide Value ETF	Tax- Managed U.S. Marketwide Value Portfolio	May 6, 2022

The Reorganization was accomplished by a tax-free exchange of shares (with an exception for fractional mutual fund shares) of the Acquiring Fund for shares of the Target Fund of equivalent aggregate net asset value.

Fees and expenses incurred to effect the Reorganization were borne by the Target Fund. The Reorganization did not result in a material change to the Target Fund’s investment portfolio as compared to the Acquiring Fund. There are no material differences in accounting policies of the Target Fund as compared to the Acquiring Fund.

The Acquiring Fund did not purchase or sell securities following the Reorganization for purposes of realigning its investment portfolio. Accordingly, the acquisition of the Target Fund did not affect the Acquiring Fund’s portfolio turnover ratios for the year ended October 31, 2022.

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 Funds are listed and traded on the NYSE Arca, 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”. 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 be purchased or redeemed directly only 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 Rule 2a-5 under the 1940 Act pursuant to procedures approved 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 Rule 2a-5 under the 1940 Act pursuant to procedures approved 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 and 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 World ex U.S. Core Equity 2 ETF and the International Value 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.

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 Rule 2a-5 under the 1940 Act pursuant to procedures approved 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. 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 their 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.

6. DEFERRED COMPENSATION PLAN

Each eligible Trustee (each a “Trustee” and collectively, the “Trustees”) of the Trust may elect to participate in the Fee Deferral Plan for Independent Directors and Trustees (the “Plan”). Under the Plan, effective January 1, 2002, such Trustees may defer payment of all or a portion of their total fees earned as a Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: the U.S. Large Cap Value Portfolio, U.S. Core Equity 1 Portfolio, U.S. Large Company Portfolio, U.S. Vector Equity Portfolio, U.S. Micro Cap Portfolio, DFA International Value Portfolio, International Core Equity Portfolio, Emerging Markets Portfolio, Emerging Markets Core Equity Portfolio, DFA Inflation-Protected Securities Portfolio, and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Trustees’ Fees & Expenses.

Each Trustee has the option to receive the distribution of proceeds by one of the following methods: lump sum, annual installments over a period of agreed-upon years, or quarterly installments over a period of agreed-upon years. Each Trustee shall have the right in a notice of election (the “Notice”) to defer the receipt of the Trustee’s deferred compensation until a date specified by such Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Trustee ceases to be a member of the Board and (ii) five years following the effective date of the Trustee’s first deferral election. If a Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Trustee’s deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Trustee ceases to be a member of the Board (unless the Trustee files an amended Notice selecting a different distribution date).

C. DERIVATIVE INSTRUMENTS

All open derivative positions at year 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 Dimensional International Value ETF and Dimensional World ex U.S. Core Equity 2 ETF 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 Statement 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 October 31, 2022, there were no forward currency contracts outstanding. During the year ended October 31, 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 October 31, 2022, and the monthly average notional amount for these contracts for the year ended October 31, 2022, were as follows (amounts in thousands):


	Outstanding Notional Amount				Monthly Average Notional Amount
Futures Contracts:	Long		Short		Long		Short
International Value ETF	$	—	$	—	$	14,075	$	—

Summary of Derivative Instruments:

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 year ended October 31, 2022 (amounts in thousands):


	Realized Gain (Loss) from: Futures Contracts
Equity Risk Exposure:
US Small Cap ETF	$	273
International Value ETF		2,060
World ex US Core Equity 2 ETF		974

Currency Rate Risk Exposure:

The Funds had limited activity in forward foreign currency contracts during the year ended October 31, 2022, and no such contracts were outstanding as of October 31, 2022. Net realized and changes in unrealized gain or loss on such contracts were minimal during the year ended October 31, 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, International Value ETF, and World ex US Core Equity 2 ETF.

For the year ended October 31, 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:


	Management Fee
US Equity ETF		0.08	%
US Small Cap ETF*		0.27	%
US Targeted Value ETF*		0.28	%
US Core Equity 2 ETF		0.16	%
US Marketwide Value ETF		0.20	%
International Value ETF*		0.27	%
World ex US Core Equity 2 ETF		0.25	%

*	The management fees payable by the following Funds were reduced as follows:


	Management Fee Prior to February 28, 2022			Management Fee Effective February 28, 2022
US Small Cap ETF		0.30	%		0.25	%
US Targeted Value ETF		0.30	%		0.27	%
International Value ETF		0.30	%		0.25	%

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 Equity ETF, US Core Equity 2 ETF, US Marketwide Value ETF, and World ex US Core Equity 2 ETF as described in the notes below. The Fee Waiver Agreement will remain in effect through February 28, 2023, and 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 year ended October 31, 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 year ended October 31, 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/ Expenses Assumed		Recovery of Previously Waived Fees/ Expenses Assumed		Previously Waived Fees/Expenses Assumed Subject to Future Recovery
US Equity ETF (1)		0.22	%	$	—	$	—	$	—
US Core Equity 2 ETF (2)		0.30	%		—		—		—
US Marketwide Value ETF (2)		0.24	%		—		—		—
World ex US Core Equity 2 ETF (3)		0.39	%		—		—		—

(1)

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”).

(2)

The Advisor has contractually agreed to waive all or a portion of 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”).

(3)	The Advisor has contractually agreed to waive all or a portion of its management fee and to assume the expenses of the Fund (including the expenses that the Fund bears as a shareholder of other funds managed by the Advisor but excluding the expenses that the Fund incurs

indirectly through investment of its securities lending cash collateral in The DFA Short Term Investment Fund and its investment in unaffiliated 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”).

2. EARNED INCOME CREDIT

Additionally, certain Funds have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of each Fund’s custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. The impact of such credits is generally less than one basis point of each Fund’s net assets. During the year ended October 31, 2022, expenses reduced were as follows (amounts in thousands):


	Fees Paid Indirectly
US Equity ETF	$	12
US Small Cap ETF		14
US Targeted Value ETF		21
US Core Equity 2 ETF		33
International Value ETF		24
World ex US Core Equity 2 ETF		5

3. 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. American Stock Transfer & Trust Company, LLC serves as stock transfer agent for the Acquiring Fund listed above. Prior to the Reorganization, State Street Bank and Trust Company provided accounting and administration services, dividend disbursing, and transfer agent services for the Target Fund.

4. 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.

5. 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) receive no compensation from the Trust. For the year ended October 31, 2022, the total related amounts paid by the Trust to the CCO was $18 (in thousands). The total related amounts paid by each of the Funds are included in Other Expenses on the Statements of Operations.

E. DEFERRED COMPENSATION:

As of October 31, 2022, the total liability for deferred compensation to Trustees is included in Accrued Expenses and Other Liabilities on the Statements of Assets and Liabilities as follows (amounts in thousands):


US Equity ETF	$	1
US Small Cap ETF		1
US Targeted Value ETF		2
US Core Equity 2 ETF		3
US Marketwide Value ETF		2
International Value ETF		1
World ex US Core Equity 2 ETF		1

F. FEDERAL INCOME TAXES

Each Fund has qualified and intends 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, 2022 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 and October 31, 2022, were as follows (amounts in thousands):


	Net Investment Income and Short-Term Capital Gains		Long-Term Capital Gains		Tax-Exempt Income		Total
US Equity ETF
2021	$	63,460	$	—	$	—	$	63,460
2022		77,302		—		—		77,302
US Small Cap ETF
2021		31,370		—		—		31,370
2022		45,954		92,853		—		138,807
US Targeted Value ETF
2021		69,616		—		—		69,616
2022		102,520		4,625		—		107,145
US Core Equity 2 ETF
2021		138,569		—		—		138,569
2022		199,823		—		—		199,823
US Marketwide Value ETF
2021		33,697		—		—		33,697
2022		137,580		—		—		137,580
International Value ETF
2021		81,899		—		—		81,899
2022		175,333		—		—		175,333
World ex US Core Equity 2 ETF
2021		79,477		—		—		79,477
2022		156,347		—		—		156,347

As of October 31, 2022, the following net investment income and short-term capital gains and long-term capital gains distributions designated for federal income tax purposes are due to the use of accumulated earnings and profits distributed to shareholders upon redemption of shares (amounts in thousands):


	Net Investment Income and Short-Term Capital Gains			Long-Term Capital Gains		Total
US Equity ETF	$	(678	)	$	—	$	(678	)
US Small Cap ETF		(1,184	)		—		(1,184	)
US Targeted Value ETF		(7,946	)		—		(7,946	)
US Core Equity 2 ETF		(8,475	)		—		(8,475	)
US Marketwide Value ETF		(14,681	)		—		(14,681	)
International Value ETF		—			—		—
World ex US Core Equity 2 ETF		(172,215	)		—		(172,215	)

As of October 31, 2022, 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 Equity ETF	$	7,956	$	—	$	(94,466	)	$	3,233,290		$	3,146,780
US Small Cap ETF		—		—		(67,052	)		1,756,972			1,689,920
US Targeted Value ETF		—		—		(47,255	)		2,230,263			2,183,008
US Core Equity 2 ETF		15,581		—		(295,374	)		6,569,067			6,289,274
US Marketwide Value ETF		222		—		(62,897	)		383,242			320,567
International Value ETF		19,637		—		(384,832	)		(86,857	)		(452,052	)
World ex US Core Equity 2 ETF		23,544		—		(118,692	)		(135,783	)		(230,931	)

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, 2022, 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 Equity ETF	$	94,466	$	94,466
US Small Cap ETF		67,052		67,052
US Targeted Value ETF		47,255		47,255
US Core Equity 2 ETF		295,374		295,374
US Marketwide Value ETF		62,897		62,897
International Value ETF		384,832		384,832
World ex US Core Equity 2 ETF		118,692		118,692

During the year ended October 31, 2022, the following Fund used the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands):


International Value ETF		$	35,695

As of October 31, 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 Equity ETF	$	2,329,374	$	3,233,288	$	—		$	3,233,288
US Small Cap ETF		3,278,864		1,859,834		(102,862	)		1,756,972
US Targeted Value ETF		5,371,898		2,230,263		—			2,230,263
US Core Equity 2 ETF		9,398,658		6,571,784		(2,717	)		6,569,067
US Marketwide Value ETF		4,019,930		4,044,151		(109,352	)		3,934,799
International Value ETF		3,904,302		400,968		(486,632	)		(85,664	)
World ex US Core Equity 2 ETF		4,531,907		665,546		(800,499	)		(134,953	)

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 gains (losses) 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 Funds’ tax positions and 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. The Funds’ federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

G. SECURITIES LENDING

As of October 31, 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
US Core Equity 2 ETF	$	39,560
International Value ETF		27,074
World ex US Core Equity 2 ETF		46,166

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 October 31, 2022 (amounts in thousands):


	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		< 30 days		Between 30 & 90 days		> 90 days		Total
US Equity ETF
Common Stocks	$	99,230		—		—		—	$	99,230
US Small Cap ETF
Common Stocks		363,402		—		—		—		363,402
US Targeted Value ETF
Common Stocks		422,070		—		—		—		422,070
US Core Equity 2 ETF
Common Stocks		556,321		—		—		—		556,321
US Marketwide Value ETF
Common Stocks		57,561		—		—		—		57,561
International Value ETF
Common Stocks		91,921		—		—		—		91,921
World ex US Core Equity 2 ETF
Common Stocks		108,679		—		—		—		108,679

H. AFFILIATED TRADES

Cross trades for the year ended October 31, 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 year ended October 31, 2022, cross trades by the Funds under Rule 17a-7 were as follows (amounts in thousands):


	Purchases		Sales		Realized Gain (Loss)
US Equity ETF	$	45,616	$	41,752	$	(17,889	)
US Small Cap ETF		71,073		81,292		(30,949	)
US Targeted Value ETF		64,543		200,096		(56,502	)
US Core Equity 2 ETF		119,139		178,298		(97,657	)
US Marketwide Value ETF		49,029		33,064		(10,237	)
International Value ETF		41,008		22,657		(2,814	)
World ex US Core Equity 2 ETF		32,639		38,455		(3,316	)

I. INVESTMENT TRANSACTIONS

Purchases and sales of investments, excluding in-kind transactions and short-term investments, for the year ended October 31, 2022 were as follows (amounts in thousands):


	Purchases		Sales
US Equity ETF	$	214,210	$	168,907
US Small Cap ETF		366,495		446,383
US Targeted Value ETF		582,296		440,976
US Core Equity 2 ETF		983,387		742,455
US Marketwide Value ETF		329,252		240,204
International Value ETF		528,999		443,249
World ex US Core Equity 2 ETF		788,988		356,871

In-kind transactions for the year ended October 31, 2022 were as follows (amounts in thousands):


	Purchases		Sales
US Equity ETF	$	529,434	$	85,890
US Small Cap ETF		1,277,265		292,688
US Targeted Value ETF		2,269,829		1,233,851
US Core Equity 2 ETF		3,373,258		391,250
US Marketwide Value ETF		770,014		570,439
International Value ETF		783,510		—
World ex US Core Equity 2 ETF		587,282		22,016

There were no purchases or sales of U.S. government securities during the year ended October 31, 2022.

J. 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.

K. 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.

L. 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 the lower of one-quarter of such portfolio’s net assets or $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 year ended October 31, 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 Year		Outstanding Borrowings as of 10/31/22
US Small Cap ETF		2.91	%	$	487		4		—	$	869		—
US Targeted Value ETF		1.91	%		1,843		4		—		6,122		—
International Value ETF		3.08	%		194		4		—		194		—
World ex US Core Equity 2 ETF		2.98	%		671		10		—		927		—

*	Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 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 portfolios 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 us the interfund lending program during the period ended October 31, 2022.

M. 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 determined 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 a Fund could enter, eliminates the asset segregation framework previously used by a Fund to comply with Section 18 of the 1940 Act, and requires 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 began complying with the Derivatives Rule on August 19, 2022.

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 rescinded previously issued guidance on related issues. The Valuation Rule became effective on March 8, 2021 and the Funds began complying with the Valuation Rule on August 1, 2022.

N. 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 October 31, 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 Equity ETF		1		100	%
US Small Cap ETF		1		100	%
US Targeted Value ETF		1		100	%
US Core Equity 2 ETF		1		100	%
US Marketwide Value ETF		2		100	%
International Value ETF		1		100	%
World ex US Core Equity 2 ETF		1		100	%

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.

LOGO

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of The Dimensional ETF Trust and Shareholders of Dimensional US Equity ETF, Dimensional U.S. Small Cap ETF, Dimensional US Targeted Value ETF, Dimensional U.S. Core Equity 2 ETF, Dimensional US Marketwide Value ETF, Dimensional International Value ETF, and Dimensional World ex U.S. Core Equity 2 ETF

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the summary schedules of portfolio holdings, of Dimensional US Equity ETF, Dimensional U.S. Small Cap ETF, Dimensional US Targeted Value ETF, Dimensional U.S. Core Equity 2 ETF, Dimensional US Marketwide Value ETF, Dimensional International Value ETF, and Dimensional World ex U.S. Core Equity 2 ETF (seven of the funds constituting The Dimensional ETF Trust, hereafter collectively referred to as the “Funds”) as of October 31, 2022, the related statements of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2022 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of October 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2022, and each of the financial highlights for each of the five years in the period ended October 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2022 by correspondence with the custodian, brokers and transfer agent of the investee fund; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 22, 2022

We have served as the auditor of one or more investment companies in Dimensional Fund Advisors L.P. investment company group since 1981.

FUND MANAGEMENT

(Unaudited)

Trustees/Directors

Each Board of Trustees/Directors (each, the “Board” and collectively, the “Boards”) of The DFA Investment Trust Company (“DFAITC”), DFA Investment Dimensions Group Inc. (“DFAIDG”), Dimensional Investment Group Inc. (“DIG”), Dimensional ETF Trust (“ETF Trust”), and Dimensional Emerging Markets Value Fund (“DEM”) (each, the “Fund” and collectively, the “Funds”) is responsible for establishing the Funds’ policies and for overseeing the management of the Funds. The Trustees/ Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the “Feeder Portfolios”) that invest in certain series of DFAITC or DEM (the “Master Funds”).

Each Board has four standing committees, an Audit Committee, a Nominating and Governance Committee (the “Nominating Committee”), a Mutual Funds-ETF Relations Committee, and an Investment Strategy Committee (the “Strategy Committee”). The Audit Committee is composed of Reena Aggarwal, George M. Constantinides, Francis A. Longstaff, Abbie J. Smith and Ingrid M. Werner. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund’s accounting and financial reporting policies and practices, the Fund’s internal controls, the Fund’s financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund’s independent registered certified public accounting firm and acts as a liaison between the Fund’s independent registered certified public accounting firm and the full Board. There were three Audit Committee meetings held during the fiscal year ended October 31, 2022.

Each Board’s Nominating Committee is composed of Reena Aggarwal, George M. Constantinides, Douglas W. Diamond, Francis A. Longstaff, and Heather E. Tookes. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the disinterested Board members and to the full Board. The Nominating Committee works closely with other disinterested Trustees to evaluate a candidate’s qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. The Nominating Committee also periodically reviews the Board governance practices, policies, procedures, and operations; reviews the membership of each committee of the Board; reviews and makes recommendations regarding the Independent Trustees’ compensation; oversees the annual self-assessment of the Board and each committee; considers and recommends to the Board, the selection of “independent legal counsel” (as that term is defined in the 1940 Act); and monitors and considers corporate governance issues that may arise from time to time. There were three Nominating Committee meetings held during the fiscal year ended October 31, 2022.

Each Board’s Strategy Committee is composed of Gerard K. O’Reilly, Douglas W. Diamond, Darrell Duffie, and Heather E. Tookes. The Strategy Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Strategy Committee (i) reviews the design of possible new series of the Fund, (ii) reviews performance of existing portfolios of the Funds and discusses and recommends possible enhancements to the portfolios’ investment strategies, (iii) reviews proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) considers issues relating to investment services for each portfolio of the Fund. There were four Strategy Committee meetings held during the fiscal year ended October 31, 2022.

The Mutual Funds-ETF Relations Committee is comprised of George M. Constantinides, Darrell Duffie, and Ingrid M. Werner. At the request of the Board, the Mutual Funds-ETF Relations Committee (i) reviews any newly-proposed expenses to be borne by the ETFs in the Dimensional ETF Trust (“Dimensional ETFs”), portfolios in the DFA mutual fund complex (“Fund Complex”) or changes to the existing expense allocations among the Dimensional ETFs, portfolios in the Fund Complex, and the Advisor, (ii) considers any conflicts of interest that may arise in the operations of the Dimensional ETFs and the portfolios in the Fund Complex, (iii) reviews and considers relevant information relating to the operations of the Dimensional ETFs, and (iv) considers asset flows and

performance differences between the similarly managed mutual funds and ETFs of the Funds. There were two Mutual Funds-ETF Relations Committee meetings held for the Trust during the fiscal year ended October 31, 2022.

Certain biographical information for each disinterested Trustee/Director and interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director’s experience as a Trustee/ Director of the Funds and as a Director or Trustee of other funds, as well as other recent professional experience.

The statements of additional information (together, “SAI”) of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, TX 78746. Prospectuses are also available at http://us.dimensional.com.

Disinterested Directors/Trustees



Name, Address and Year of Birth	Position	Term of Office¹ and Length of Service	Principal Occupation During Past 5 Years	Portfolios within the DFA Fund Complex² Overseen	Other Directorships of Public Companies Held During Past 5 Years
Reena Aggarwal c/o Dimensional Fund Advisors LP 6300 Bee Cave Road, Building One Austin, TX 78746 1957	Director/ Trustee	Since December 2021	Robert E. McDonough Professor of Business Administration and Finance, McDonough School of Business, Georgetown University (since 2003); Director, Georgetown Center for Financial Markets and Policy (since 2010); and Vice Provost of Faculty (2016-2020), Georgetown University.	147 portfolios in 5 investment companies	Director, Cohen & Steers (asset management firm) (since 2017) and Director, Nuveen Churchill Direct Lending (private business development company) (since 2019). Formerly, Director, New York Life Investment Management IndexIQ (2008-2021) (22 funds); Director, REAN Cloud (technology) (2015-2018); Director, FBR & Co. (investment banking) (2011- 2017); and Director, Brightwood Capital Advisors, L.P. (private equity) (2013-2020).
George M. Constantinides University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947	Director/ Trustee	DFAIDG — Since 1983; DIG & DEM — Since 1993; DFAITC — Since 1992; ETF Trust - Since 2020	Leo Melamed Professor of Finance, University of Chicago Booth School of Business (since 1978).	147 portfolios in 5 investment companies	None
Douglas W. Diamond c/o Dimensional Fund Advisors LP 6300 Bee Cave Road, Building One Austin, TX 78746 1953	Director/ Trustee	DFAIDG, DIG, DEM & DFAITC — Since 2017; ETF Trust - Since 2020	Merton H. Miller Distinguished Service Professor of Finance, University of Chicago Booth School of Business (since 1979). Formerly, Visiting Scholar, Federal Reserve Bank of Richmond (1990-2019).	147 portfolios in 5 investment companies	None
Darrell Duffie c/o Dimensional Fund Advisors LP 6300 Bee Cave Road, Building One Austin, TX 78746 1954	Director/ Trustee	DFAIDG, DIG, DEM & DFAITC —Since 2019; ETF Trust - Since 2020	Adams Distinguished Professor of Management and Professor of Finance, Stanford University (since 1984) and Director, TNB Inc. (bank) (since 2020).	147 portfolios in 5 investment companies	Formerly, Director, Moody’s Corporation (financial information and information technology) (2008-2018).



Name, Address and Year of Birth	Position	Term of Office¹ and Length of Service	Principal Occupation During Past 5 Years	Portfolios within the DFA Fund Complex² Overseen	Other Directorships of Public Companies Held During Past 5 Years
Francis A. Longstaff c/o Dimensional Fund Advisors LP 6300 Bee Cave Road, Building One Austin, TX 78746 1956	Director/ Trustee	Since December 2021	Allstate Professor of Insurance and Finance, UCLA, Anderson School of Management; Consultant, NERA Economic Consulting (since 2018); Consultant, Charles River Associates (economic consulting firm) (since 2013); Consultant, Simplex Holdings, Inc. (technology firm) (since 1998); and Expert Witness, Analysis Group (economic consulting firm) (since 2012).	147 portfolios in 5 investment companies	None
Abbie J. Smith University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1953	Director/ Trustee	DFAIDG, DIG, DEM & DFAITC — Since 2000; ETF Trust - Since 2020	Boris and Irene Stern Distinguished Service Professor of Accounting and James S. Ely, III Faculty Fellow, University of Chicago Booth School of Business (since 1980).	147 portfolios in 5 investment companies	Director (since 2000) and formerly, Lead Director (2014- 2017), HNI Corporation (office furniture); Director, Ryder System Inc. (transportation, logistics and supply-chain management) (since 2003); and Trustee, UBS Funds (2 investment companies within the fund complex) (13 portfolios) (since 2009).
Heather E. Tookes Yale School of Management 165 Whitney Avenue New Haven, CT 06511 1974	Director/ Trustee	Since December 2021	Professor of Finance, Yale School of Management (since 2004).	147 portfolios in 5 investment companies	Director, Payoneer Inc. (digital payments) (since 2021); Director, Ariel Investments LLC (since 2017); and Director, Community Foundation of Greater New Haven (community foundation and grant-making) (since 2022). Formerly, Director, KCG Holdings (trading company) (January 2017-July 2017).



Name, Address and Year of Birth	Position	Term of Office¹ and Length of Service	Principal Occupation During Past 5 Years	Portfolios within the DFA Fund Complex² Overseen	Other Directorships of Public Companies Held During Past 5 Years
Ingrid M. Werner c/o Dimensional Fund Advisors LP 6300 Bee Cave Road, Building One Austin, TX 78746 1961	Director/ Trustee	DFAIDG, DIG, DEM & DFAITC — Since 2019; ETF Trust - Since 2020	Martin and Andrew Murrer Professor of Finance, Fisher College of Business, The Ohio State University (since 1998). Adjunct Member, the Prize Committee for the Swedish Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (annual award for significant scientific research contribution) (since 2018). Director, American Finance Association (global association of academic researchers and practitioners in finance) (since January 2019). Member, Scientific Board, Leibniz Institute for Financial Research (institute supporting academic research in finance) (since 2020). Chair, Economic Advisory Committee, FINRA (since 2017). Chairman, Scientific Advisory Board, Swedish House of Finance (institute supporting academic research in finance) (since 2014). Member, Scientific Board, Danish Finance Institute (institute supporting academic research in finance) (since 2017). Fellow, Center for Analytical Finance (academic research) (since 2015). Associate Editor, Journal of Finance (since 2016). Formerly, President, Western Finance Association (global association of academic researchers and practitioners in finance) (2018-2019). Formerly, Member, Academic Board, Mistra Financial Systems (organization funding academic research on environment, governance and climate/sustainability in finance) (2016-2021).	147 portfolios in 5 investment companies	Director, Fourth Swedish AP Fund (pension fund asset management) (since 2017).

Interested Directors/Trustees

The following interested Directors are described as such because each is deemed to be an “interested person,” as that term is defined under the 1940 Act, due to his position with the Advisor.



Name, Address and Year of Birth	Position	Term of Office¹ and Length of Service	Principal Occupation During Past 5 Years	Portfolios within the DFA Fund Complex² Overseen	Other Directorships of Public Companies Held During Past 5 Years
David P. Butler c/o Dimensional Fund Advisors LP 6300 Bee Cave Road, Building One, Austin, TX 78746 1964	Director Co-Chief Executive Officer	Director since December 2021 Co-Chief Executive Officer since 2017 (DFAIDG, DIG, DEM & DFAITC); 2020 (ETF Trust)	Co-Chief Executive Officer of Dimensional Emerging Markets Value Fund (“DEM”), DFAIDG, Dimensional Investment Group Inc. (“DIG”), The DFA Investment Trust Company (“DFAITC”), Dimensional Holdings Inc., Dimensional Fund Advisors LP, Dimensional Investment LLC, and DFA Securities LLC (collectively with DEM, DFAIDG, DIG and DFAITC, the “DFA Entities”) (since 2017), DFA Canada LLC (since 2018), Dimensional Holdings LLC (since 2017), and Dimensional ETF Trust (since 2020); Chief Executive Officer of Dimensional Fund Advisors Canada ULC (since 2018); Director (since 2017) of Dimensional Holdings Inc., Dimensional Fund Advisors Canada ULC, Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Ltd., and DFA Australia Limited; Director and Co-Chief Executive Officer (since 2017) of Dimensional Cayman Commodity Fund I Ltd.; Chief Executive Officer of Dimensional Fund Advisors Canada ULC (since 2018); Head of Global Financial Advisor Services for Dimensional Fund Advisors LP (since 2007) and Dimensional Investment LLC (since 2017); Formerly, Vice President (2007 – 2017) of all the DFA Entities; Formerly, Head of Global Advisor Services for Dimensional Investment LLC (2011-2017).	147 portfolios in 5 investment companies	None



Name, Address and Year of Birth	Position	Term of Office¹ and Length of Service	Principal Occupation During Past 5 Years	Portfolios within the DFA Fund Complex² Overseen	Other Directorships of Public Companies Held During Past 5 Years
Gerard K. O’Reilly c/o Dimensional Fund Advisors LP 6300 Bee Cave Road, Building One, Austin, TX 78746 1976	Chairman and Director Co-Chief Executive Officer and Chief Investment Officer	Chairman and Director since December 2021 Co-Chief Executive Officer and Chief Investment Officer since 2017 (DFAIDG, DIG, DEM & DFAITC); 2020 (ETF Trust)	Co-Chief Executive Officer and Chief Investment Officer of the DFA Entities (since 2017) and Dimensional ETF Trust (since 2020); Co-Chief Executive Officer of Dimensional Canada LLC (since 2018); Chief Investment Officer of Dimensional Fund Advisors Canada ULC (since 2017); Director, Chief Investment Officer (since 2017) and Vice President (since 2014) of DFA Australia Limited; Chief Investment Officer (since 2018) and Vice President (since 2016) of Dimensional Japan Ltd.; Director, Co-Chief Executive Officer and Chief Investment Officer (since 2017) of Dimensional Cayman Commodity Fund I Ltd.; Director of Dimensional Funds plc (since 2014), Dimensional Fund II plc (since 2014), Dimensional Holdings Inc. (since 2017), Dimensional Advisors Ltd. (since 2017), and Dimensional Ireland Limited (since 2018). Formerly, Executive Vice President (2017) and Co-Chief Investment Officer (2014 – 2017) of the DFA Entities; Formerly, Vice President (2007 – 2017) of the DFA Entities; Formerly, Vice President and Co-Chief Investment Officer (2014 – 2017) of Dimensional Fund Advisors Canada ULC. Formerly, Director of Dimensional Fund Advisors Pte. Ltd. (2017-2018) and Dimensional Fund Advisors Ltd. (2018-2021).	147 portfolios in 5 investment companies	None

1	Each Director/Trustee holds office for an indefinite term until his or her successor is elected and qualified.

Each Director/Trustee is a director or trustee of each of the five registered investment companies within the DFA Fund Complex, which include: the Fund; DIG; DFAITC; DEM; and Dimensional ETF Trust. Each disinterested Director/Trustee also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by the Advisor’s affiliate, Dimensional Fund Advisors Canada ULC.

Officers

Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities.



Name and Year of Birth	Position	Term of Office¹ and Length of Service	Principal Occupation During Past 5 Years
Valerie A. Brown 1967	Vice President and Assistant Secretary	Since 2001	Vice President and Assistant Secretary of • all the DFA Entities (since 2001) • DFA Australia Limited (since 2002) • Dimensional Fund Advisors Ltd. (since 2002) • Dimensional Cayman Commodity Fund I Ltd. (since 2010) • Dimensional Fund Advisors Pte. Ltd. (since 2012) • Dimensional Hong Kong Limited (since 2012) • Dimensional ETF Trust (since 2020) Director, Vice President and Assistant Secretary (since 2003) of • Dimensional Fund Advisors Canada ULC
Ryan P. Buechner 1982	Vice President and Assistant Secretary	Since 2019	Vice President and Assistant Secretary of • DFAIDG, DIG, DFAITC and DEM (since 2019) • Dimensional ETF Trust (since 2020) Vice President (since January 2018) of • Dimensional Holdings Inc. • Dimensional Fund Advisors LP • Dimensional Investment LLC • DFA Securities LLC
Stephen A. Clark 1972	Executive Vice President	Since 2017	Executive Vice President of • all the DFA Entities (since 2017) • Dimensional ETF Trust (since 2020) Director and Vice President (since 2016) of • Dimensional Japan Ltd. Chairman (since 2018) of • Dimensional Fund Advisors Canada ULC President and Director (since 2016) of • Dimensional Fund Advisors Canada ULC Vice President (since 2008) and Director (since 2016) of • DFA Australia Limited Director (since 2016) of • Dimensional Advisors Ltd. • Dimensional Fund Advisors Pte. Ltd. • Dimensional Hong Kong Limited Vice President of • Dimensional Advisors Ltd. (since 2016) • Dimensional Hong Kong Limited (since 2016) • Dimensional Fund Advisors Pte. Ltd. (since 2019) Formerly, Director (2016-2021) of • Dimensional Fund Advisors Ltd. Formerly, Vice President (2004-2017) of • all the DFA Entities Formerly, Vice President (2010-2016) of • Dimensional Fund Advisors Canada ULC Formerly, Vice President (2016-2019) of • Dimensional Fund Advisors Pte. Ltd. Formerly, Interim Chief Executive Officer (2019-2020) of • Dimensional Fund Advisors Pte. Ltd. Formerly, Head of Institutional, North America (2012-2013) and Head of Global Institutional Services (2014-2018) for • Dimensional Fund Advisors LP



Name and Year of Birth	Position	Term of Office¹ and Length of Service	Principal Occupation During Past 5 Years
Lisa M. Dallmer 1972	Chief Operating Officer	Since June 2021	Chief Operating Officer (since June 2021) of • the DFA Fund Complex Executive Vice President (since January 2020) • Dimensional Holdings Inc. • Dimensional Fund Advisors LP • Dimensional Investment LLC • DFA Securities LLC Chief Operating Officer (since December 2019) • Dimensional Holdings Inc. • Dimensional Fund Advisors LP • Dimensional Investment LLC • DFA Securities LLC Vice President (since 2020) of • DFA Australia Limited • Dimensional Advisors Ltd. • Dimensional Fund Advisors Canada ULC • Dimensional Fund Advisors Pte. Ltd. • Dimensional Ireland Limited • Dimensional Japan Ltd. Formerly, Vice President, Chief Financial Officer, and Treasurer (June 2020-June 2021) of • the DFA Fund Complex Formerly, Senior Vice President, Business Operations (March 2019-October 2019) at • Delphix Inc. Formerly, Chief Operating Officer Global Technology & Operations, Managing Director (2014-2018) of • BlackRock Inc.
Bernard J. Grzelak 1971	Vice President	Since June 2021	Vice President (since June 2021) of • the DFA Fund Complex Vice President, Chief Financial Officer and Treasurer (since September 2020) of • DFA Australia Limited • Dimensional Fund Advisors Canada ULC • DFA Securities LLC • Dimensional Advisors Ltd. • Dimensional Fund Advisors LP • Dimensional Fund Advisors Ltd. • Dimensional Fund Advisors Pte. Ltd. • Dimensional Holdings Inc. • Dimensional Hong Kong Limited • Dimensional Investment LLC Vice President (since March 2021) of • Dimensional Ireland Limited Formerly, Partner (2008-2020), Chief Operating Officer, Global Funds and Risk (2018-2020), Chief Operations Officer (2016-2018), and Director of Fund Administration (2003-2016) of • Lord Abbett & Co. LLC Formerly, Chief Financial Officer (2017-2020), and Treasurer (2003-2017) of • Lord Abbett Family of Funds
Eric Hall 1978	Vice President and Assistant Treasurer	Since June 2021	Vice President and Assistant Treasurer (since June 2021) of • the DFA Fund Complex Formerly, Data Integrity Team Lead (December 2019-April 2021) of • Clearwater Analytics Formerly, Assistant Vice President and Assistant Treasurer (March 2015-November 2019) at • INVESCO, U.S. (formerly, OppenheimerFunds, Inc.)
Jeff J. Jeon 1973	Vice President	Since 2004	Vice President (since 2004) of • all the DFA Entities Vice President (since 2020) of • Dimensional ETF Trust Vice President and Assistant Secretary (since 2010) of • Dimensional Cayman Commodity Fund I Ltd. Formerly, Assistant Secretary (2017-2019) of • all the DFA Entities



Name and Year of Birth	Position	Term of Office¹ and Length of Service	Principal Occupation During Past 5 Years
Joy Lopez 1971	Vice President and Assistant Treasurer	Vice President since 2015 and Assistant Treasurer since 2017	Vice President of • all the DFA Entities (since 2015) • Dimensional Fund Advisors Ltd. (since 2015) • Dimensional ETF Trust (since 2020) • DFA Australia Limited (since 2020) • Dimensional Fund Advisors Canada ULC (since 2020) • Dimensional Ireland Limited (since 2020) Assistant Treasurer of • DFAIDG, DIG, DFAITC and DEM (since 2017) • Dimensional ETF Trust (since 2020)
Kenneth M. Manell 1972	Vice President	Since 2010	Vice President of • all the DFA Entities (since 2010) • Dimensional Cayman Commodity Fund I Ltd. (since 2010) • Dimensional ETF Trust (since 2020)
Jan Miller 1963	Vice President, Chief Financial Officer, and Treasurer	Since June 2021	Vice President, Chief Financial Officer, and Treasurer (since June 2021) of • the DFA Fund Complex Formerly, Director (May 2019-January 2021) at • INVESCO, U.S. (formerly, OppenheimerFunds, Inc.) Formerly, Vice President and Assistant Treasurer (September 2012-May 2019) at • OppenheimerFunds, Inc.
Catherine L. Newell 1964	President and General Counsel	President since 2017 and General Counsel since 2001	President of • DFAIDG, DIG, DFAITC and DEM (since 2017) • Dimensional ETF Trust (since 2020) General Counsel of • all the DFA Entities (since 2001) • Dimensional Fund Advisors LP (since 2006) • Dimensional Holdings Inc (since 2006) • Dimensional Investment LLC (since 2009) • DFA Canada LLC (since 2009) • Dimensional ETF Trust (since 2020) Executive Vice President (since 2017) of • Dimensional Fund Advisors LP • Dimensional Holdings Inc. • DFA Securities LLC • Dimensional Investment LLC Secretary of • Dimensional Fund Advisors LP (since 2006) • Dimensional Holdings Inc. (since 2006) • DFA Securities LLC (since 2006) • Dimensional Investment LLC (since 2009) Vice President (since 1997) and Secretary (since 2002) of • DFA Australia Limited • Dimensional Fund Advisors Ltd. Vice President and Secretary of • Dimensional Fund Advisors Canada ULC (since 2003) • DFA Canada LLC (since 2009) • Dimensional Cayman Commodity Fund I Ltd. (since 2010) • Dimensional Japan Ltd. (since 2012) • Dimensional Advisors Ltd (since 2014) • Dimensional Fund Advisors Pte. Ltd. (since 2012) Vice President and Assistant Secretary (since 2012) of • Dimensional Hong Kong Limited Director of • Dimensional Australia Limited (since 2007) • Dimensional Funds plc (since 2002) • Dimensional Funds II plc (since 2006) • Director of Dimensional Japan Ltd. (since 2012) • Dimensional Advisors Ltd. (since 2012) • Dimensional Fund Advisors Pte. Ltd. (since 2012) • Dimensional Hong Kong Limited (since 2012) • Dimensional Ireland Limited (since 2018) Formerly, Vice President and Secretary (2010-2014) of • Dimensional SmartNest (US) LLC Formerly, Vice President (1997-2017) and Secretary (2000-2017) of • DFAIDG, DIG, DFAITC and DEM Formerly, Vice President of • Dimensional Fund Advisors LP (1997-2017) • Dimensional Holdings Inc. (2006-2017) • DFA Securities LLC (1997-2017) • Dimensional Investment LLC (2009-2017) Formerly, Director (2002-2021) of • Dimensional Fund Advisors Ltd.



Name and Year of Birth	Position	Term of Office¹ and Length of Service	Principal Occupation During Past 5 Years
Selwyn J. Notelovitz 1961	Vice President	Since September 2021	Vice President (since September 2021) of • the DFA Fund Complex Vice President (since December 2012) and Chief Compliance Officer (since July 2020) of • DFA Securities LLC • Dimensional Fund Advisors LP • Dimensional Holdings Inc. • Dimensional Investment LLC Chief Compliance Officer (since July 2020) of: • DFA Australia Limited • Dimensional Fund Advisors Ltd. • Dimensional Fund Advisors Canada ULC Formerly, Deputy Chief Compliance Officer (2013-2020) of: • DFA Fund Complex • DFA Securities LLC • Dimensional Fund Advisors LP • Dimensional Holdings Inc. • Dimensional Investment LLC Formerly, Vice President (2013-2020) of: • DFA Fund Complex Formerly, Director (2019-2021) of: • Dimensional Ireland Limited
Carolyn L. O 1974	Vice President and Secretary	Vice President since 2010 and Secretary since 2017	Vice President and Secretary of • DFAIDG, DIG, DFAITC and DEM (since 2010 and 2017, respectively) • Dimensional ETF Trust (since 2020) Vice President (since 2010) and Assistant Secretary (since 2016) of • Dimensional Fund Advisors LP • Dimensional Holdings Inc. • Dimensional Investment LLC Vice President of • DFA Securities LLC (since 2010) • Dimensional Cayman Commodity Fund I Ltd. (since 2010) • Dimensional Fund Advisors Canada ULC (since 2016) Assistant Secretary (since 2016) of • DFA Securities LLC
Randy C. Olson 1980	Chief Compliance Officer	Since 2020	Chief Compliance Officer (since 2020) • the DFA Fund Complex • Vice President (since 2016) of • DFA Securities LLC • Dimensional Fund Advisors LP • Dimensional Holdings Inc. • Dimensional Investment LLC Formerly, Vice President-Senior Compliance Officer • Dimensional Investment Advisors LP (January 2020-August 2020 and July 2014-March 2017) Formerly, Vice President-Head of Compliance & Operations Asia Ex-Japan • Dimensional Investment Advisors LP (April 2017-January 2020)
James J. Taylor 1983	Vice President and Assistant Treasurer	Since 2020	Vice President and Assistant Treasurer (since 2020) of • the DFA Fund Complex Vice President • Dimensional Holdings Inc. (since 2016) • Dimensional Fund Advisors LP (since 2016) • Dimensional Investment LLC (since 2016) • DFA Securities LLC (since 2016) • Dimensional Fund Advisors Canada ULC (since 2020)

¹	Each officer holds office for an indefinite term at the pleasure of the Board of Directors and until his or her successor is elected and qualified.

TAX NOTICE TO SHAREHOLDERS

(Unaudited)

The following information is solely for informational purposes. Each Fund is designating the U.S. federal income tax character of the following items with respect to distributions paid or expected to be paid to shareholders related to the fiscal year ended October 31, 2022. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each classification below and including “Section 163(j) interest dividends” as defined in Treasury Regulation §1.163(j)-1(b)(35) and “Section 199A dividends” as defined in Treasury Regulation §1.199A -3(d), it is the intent of the Fund to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder.

For U.S. federal income tax purposes, shareholders generally must report distributions received from a Fund on a calendar-year basis, which therefore may include distributions with respect to portions of two fiscal years of the Fund. Annual statements needed by shareholders concerning the tax status of distributions received for the calendar year 2022 (e.g., IRS Form 1099-DIV) will be provided in early 2023. Shareholders should refer to these statements in preparing their calendar year 2022 tax returns. Please consult your tax advisor for the proper treatment of this information. Unless otherwise noted, the amounts in the table are expressed as a percentage of the distributions paid with respect to the fiscal year ended October 31, 2022.


Dimensional ETF Trust	Net Investment Income Distribution			Short-term Capital Gain Distribution			Long-Term Capital Gain Distribution			Return of Capital			Tax-Exempt Interest			Total Distributions			Qualifying For Corporate Dividends Received Deduction(1)			Qualifying Dividend Income(2)			U.S. Government Interest(3)			Foreign Tax Credit(4)			Foreign Source Income(5)			Qualifying Interest Income(6)			Qualifying Short-Term Capital Gain(7)
Dimensional U.S. Equity ETF		100	%		0	%		0	%		0	%		0	%		100	%		100	%		100	%		0	%		0	%		0	%		0	%		0	%
Dimensional U.S. Small Cap ETF		32	%		0	%		68	%		0	%		0	%		100	%		100	%		100	%		0	%		0	%		0	%		0	%		0	%
Dimensional U.S. Targeted Value ETF		96	%		0	%		4	%		0	%		0	%		100	%		100	%		100	%		0	%		0	%		0	%		0	%		0	%
Dimensional U.S. Core Equity 2 ETF		100	%		0	%		0	%		0	%		0	%		100	%		100	%		100	%		0	%		0	%		0	%		0	%		0	%
Dimensional US Marketwide Value ETF		100	%		0	%		0	%		0	%		0	%		100	%		100	%		100	%		0	%		0	%		0	%		0	%		0	%
Dimensional International Value ETF		100	%		0	%		0	%		0	%		0	%		100	%		0	%		100	%		0	%		9	%		100	%		0	%		0	%
Dimensional World ex U.S. Core Equity 2 ETF		100	%		0	%		0	%		0	%		0	%		100	%		0	%		88	%		0	%		8	%		100	%		0	%		0	%

(1)

Qualified Dividends represents the amount that qualifies for the corporate dividends-received deduction under Section 243 of the Internal Revenue Code and is reflected as a percentage of estimated ordinary income distributions (the total of short-term capital gain and net investment income distributions) for the calendar year 2022.

(2)

Qualified Dividend Income represents the amount that qualifies for the reduced capital gain tax rate under Section 1(h)(11) of the Internal Revenue Code and is reflected as a percentage of estimated ordinary income distributions (the total of short-term capital gain and net investment income distributions) for the calendar year 2022.

(3)

U.S. Government Interest represents the amount of interest that was derived from direct U.S. Government obligations and distributed during the fiscal year. This amount is reflected as a percentage of total estimated ordinary income distributions (the total of short-term capital gain and net investment income distributions) for the calendar year 2022. Generally, interest from direct U.S. Government obligations is exempt from state income tax. Please consult your tax advisor for the availability of a state tax exemption based on your individual circumstances.

(4)	Foreign Tax Credit represents the amount of dividends that qualify for the foreign tax credit pass through under Section 853 of the Internal Revenue Code and is reflected as a percentage of “investment company taxable income” (as defined in Section 852(b)(2) of the Internal Revenue Code).

(5)	Foreign Source Income represents the amount of dividends derived from foreign sources and is reflected as a percentage of “investment company taxable income” (as defined in Section 852(b)(2) of the Internal Revenue Code).

(6)	Qualified Net Interest Income represents the amount of interest income available as interest-related dividends generally exempt from withholding taxes for non-U.S. shareholders under Section 871(k)(1) of the Internal

Revenue Code. The information is reflected as a percentage estimated ordinary income distributions (the total of short-term capital gain and net investment income distributions) for the calendar year 2022.

(7)

Qualified Short-Term Capital Gain represents the amount available as short-term capital gain dividends generally exempt from withholding taxes for non-U.S. shareholders under Section 871(k)(2) of the Internal Revenue Code. The information is reflected as a percentage of estimated ordinary income distributions (the total of short-term capital gain and net investment income distributions) for the calendar year 2022.

VOTING PROXIES ON FUND PORTFOLIO SECURITIES

A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio 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 https://www.dimensional.com/us-en/who-we-are/investment-stewardship and reflects the twelve-month period beginning July 1st and ending June 30th.


		DFA103122-076A