Fund Evaluator:
DFA US Targeted Value I (DFFVX)
Follow This Fund
Best Performing in Small Value Over the Last Year
| 56.2% | Bridgeway Ultra-Small Company Market (BRSIX) |
| 53.9% | Royce Small-Cap Opportunity Invmt (RYPNX) |
| 45.7% | Bridgeway Omni Small-Cap Value N (BOSVX) |
| 44.9% | Goldman Sachs Small Cp Val Insghts Inv (GTTTX) |
| 44.6% | Diamond Hill Small Cap Inv (DHSCX) |
Fund Details
DFA US Targeted Value I Overview
DFA US Targeted Value I (DFFVX) is an actively managed U.S. Equity Small Value fund. Dimensional Fund Advisors launched the fund in 2000.
The investment seeks long-term capital appreciation. The fund purchases a broad and diverse group of the readily marketable securities of U.S. small and mid cap companies that the advisor determines to be value stocks with higher profitability. It may purchase or sell futures contracts and options on futures contracts for U.S. equity securities and indices, to increase or decrease equity market exposure based on actual or expected cash inflows to or outflows from the fund.
About DFA US Targeted Value I (DFFVX)
There are 3 members of the management team with an average tenure of 10.55 years: Jed Fogdall (2012), Joel Schneider (2015), Marc Leblond (2020). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 2000 Value TR USD index with a weighting of 100%. DFA US Targeted Value I has 1170 securities in its portfolio. The top 10 holdings constitute 11.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
DFA US Targeted Value I is part of the Equity global asset class and is within the U.S. Equity fund group. DFA US Targeted Value I has 1.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.3%. There is 1.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). DFA US Targeted Value I has 5.8% of the portfolio in cash.
Assets Under Management
The fund has $16 billion in total assets, which is above the $418 million average for the Small Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DFFVX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The DFA US Targeted Value I expense ratio is below average compared to funds in the Small Value category. DFA US Targeted Value I has an expense ratio of 0.29%, which is 75% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. DFA US Targeted Value I has a portfolio turnover rate of 7%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 127% for the Small Value category.
Recently, in the month of June 2026, DFA US Targeted Value I returned 4.4%, which earned it a grade of F, as the Small Value category had an average return of 5.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
DFA US Targeted Value I has a trailing yield of 1.51%, which is above the 0.77% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
DFA US Targeted Value I Grades
Year to date, the fund has returned 18.5%, 2.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 32.5% over the past year (grade of C), 17.0% over the past three years (grade of B) and 11.4% per year over the past five years (grade of A) and 12.3% per year over the past 10 years (grade of A).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about DFA US Targeted Value I, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
DFFVX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DFFVX Return (NAV) | 4.4% | 12.4% | 32.5% | 17.0% | 11.4% | 12.3% |
| DFFVX Grade | F | F | C | B | A | A |
| +/- Category | -1.3% | -4.2% | -0.5% | 1.3% | 2.8% | 1.8% |
| Small Value Avg | 5.7% | 16.5% | 33.0% | 15.7% | 8.7% | 10.5% |
| DFFVX Tax Cost Ratio | na | na | 0.7% | 0.7% | 1.1% | 1.1% |
DFFVX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DFFVX Return (NAV) | 18.5% | 9.5% | 9.3% | 19.3% | -4.6% | 38.8% | 3.8% | 21.5% | -15.8% | 9.6% | 26.9% |
| DFFVX Grade | D | B | C | B | A | A | C | C | D | C | B |
| +/- Category | -2.2% | 2.9% | -0.4% | 3.5% | 5.7% | 8.5% | -0.4% | -1.5% | -1.1% | -0.7% | 2.1% |
| Small Value Avg | 20.7% | 6.6% | 9.7% | 15.8% | -10.3% | 30.3% | 4.1% | 22.9% | -14.7% | 10.2% | 24.7% |
| Risk Measures | |
| Standard Deviation: | 18.5% |
| Total Risk Index: | 1.52 - High |
| Category Risk Index: | 1.01 - Average |
| Category Risk Grade: | C (55% Rank) |
| Beta: | 0.97 |
| R-Squared: | 47% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.5% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $16433 Mil |
| Fund Total Assets: | $16,434 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 7% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 14.4 years | |||
| Average Tenure: 10.5 years | |||
| Managers (Year): Fogdall Jed (2012), Schneider Joel (2015), Leblond Marc (2020) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 1170 |
| % in Top 10 Holdings: | 11.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.9% |
Portfolio Allocation |
|
| Domestic Stock: | 92.3% |
| Foreign Stock: | 1.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.8% |
Purchase Information
| Fund Family: | Dimensional Fund Advisors |
| Phone Number: | 888-576-1167 |
| Website: | www.dimensional.com |
| Status: | Open |
| Inception Date: | February 23, 2000 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.29% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 1.17% |
| Share Class: | DFA US Targeted Value I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
