Fund Evaluator:
DFA LTIP Institutional (DRXIX)
Follow This Fund
Best Performing in Inflation-Protected Bond Over the Last Year
| 9.5% | Carillon Chartwell Real Income I (BERIX) |
| 4.1% | VALIC Company I Inflation Protected (VCTPX) |
| 3.5% | T. Rowe Price Inflation Protected Bond Z (TRZHX) |
| 3.4% | Vanguard Inflation-Protected Secs Adm (VAIPX) |
| 3.3% | American Century Inflation Adjs Bond Y (AIAYX) |
Fund Details
DFA LTIP Institutional Overview
DFA LTIP Institutional (DRXIX) is an actively managed Taxable Bond Inflation-Protected Bond fund. Dimensional Fund Advisors launched the fund in 2012.
The investment seeks to provide total return consistent with inflation protected long-term instruments. The fund seeks its investment objective by generally investing in a universe of long-term fixed income securities structured to provide protection against inflation. It may invest in inflation-protected securities issued by the U.S. government and its agencies and instrumentalities. The fund also may invest in inflation-protected securities of other investment grade issuers including foreign governments and U.S. and non-U.S. corporations.
About DFA LTIP Institutional (DRXIX)
There are 3 members of the management team with an average tenure of 12.99 years: David Plecha (2012), Alan Hutchison (2016), Joseph Kolerich (2012). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and FTSE US Inflation-Linked Secs 20+ Yr index with a weighting of 100%. DFA LTIP Institutional has 5 securities in its portfolio. The top 10 holdings constitute 99.4% 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 LTIP Institutional is part of the Fixed Income global asset class and is within the Taxable Bond fund group. DFA LTIP Institutional has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.4% (99.4% domestic bond, 0.0% foreign bond and 0.0% convertible bond). DFA LTIP Institutional has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $417 million in total assets, which is below the $872 million average for the Inflation-Protected Bond 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.
DRXIX 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 LTIP Institutional expense ratio is low compared to funds in the Inflation-Protected Bond category. DFA LTIP Institutional has an expense ratio of 0.12%, which is 84% 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 LTIP Institutional has a portfolio turnover rate of 15%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 74% for the Inflation-Protected Bond category.
Recently, in the month of June 2026, DFA LTIP Institutional returned -0.2%, which earned it a grade of A, as the Inflation-Protected Bond category had an average return of -0.6%. 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 LTIP Institutional has a trailing yield of 7.19%, which is above the 4.07% 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 LTIP Institutional Grades
Year to date, the fund has returned 0.1%, 0.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 1.0% over the past year (grade of F), -4.2% over the past three years (grade of F) and -9.4% per year over the past five years (grade of F) and -1.4% per year over the past 10 years (grade of F).
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 LTIP Institutional, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
DRXIX 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 |
|
| DRXIX Return (NAV) | -0.2% | 1.9% | 1.0% | -4.2% | -9.4% | -1.4% |
| DRXIX Grade | A | A | F | F | F | F |
| +/- Category | 0.4% | 1.2% | -2.2% | -8.0% | -10.0% | -3.6% |
| Inflation-Protected Bond Avg | -0.6% | 0.7% | 3.2% | 3.8% | 0.6% | 2.2% |
| DRXIX Tax Cost Ratio | na | na | 2.7% | 2.4% | 2.7% | 2.0% |
DRXIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DRXIX Return (NAV) | 0.1% | 1.5% | -8.4% | -1.0% | -40.1% | 9.1% | 26.8% | 19.3% | -8.3% | 9.6% | 10.4% |
| DRXIX Grade | F | F | F | F | F | A | A | A | F | A | A |
| +/- Category | -0.9% | -5.2% | -10.2% | -4.3% | -27.8% | 4.1% | 15.7% | 11.3% | -6.4% | 6.7% | 5.9% |
| Inflation-Protected Bond Avg | 1.1% | 6.7% | 1.8% | 3.3% | -12.3% | 5.1% | 11.1% | 8.0% | -1.9% | 2.9% | 4.5% |
| Risk Measures | |
| Standard Deviation: | 14.7% |
| Total Risk Index: | 1.21 - Above Average |
| Category Risk Index: | 3.27 - High |
| Category Risk Grade: | F (103% Rank) |
| Beta: | 2.50 |
| R-Squared: | 89% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Extensive Sensitivity |
| Yield: | 7.2% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $417 Mil |
| Fund Total Assets: | $ 417 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 15% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 14.3 years | |||
| Average Tenure: 13.0 years | |||
| Managers (Year): Plecha David (2012), Kolerich Joseph (2012), Hutchison Alan (2016) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 5 |
| % in Top 10 Holdings: | 99.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 99.4% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | Dimensional Fund Advisors |
| Phone Number: | 888-576-1167 |
| Website: | www.dimensional.com |
| Status: | Open |
| Inception Date: | March 7, 2012 |
| 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 (%): | 0.12% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.73% |
| Share Class: | DFA LTIP Institutional |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
