Fund Evaluator:
DFA International Government Fxd Inc I (DWFIX)
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Best Performing in Global Bond-USD Hedged Over the Last Year
| 3.7% | T. Rowe Price Global Multi-Sector Bd Inv (PRSNX) |
| 2.3% | Nuveen International Bond I (TIBNX) |
| 2.3% | American Century Global Bond Y (AGBWX) |
| 2.0% | American Century Global Bond Inv (AGBVX) |
| 2.0% | Goldman Sachs Global Core Fxd Inc Inv (GBIRX) |
Fund Details
DFA International Government Fxd Inc I Overview
DFA International Government Fxd Inc I (DWFIX) is an actively managed Taxable Bond Global Bond-USD Hedged fund. Dimensional Fund Advisors launched the fund in 2011.
The investment seeks to maximize total returns from the universe of debt securities in which the Portfolio invests. The fund seeks its investment objective by investing in a universe of obligations issued or guaranteed primarily by non-U.S. government issuers, their agencies and instrumentalities and supranational organizations having investment grade credit ratings at the time of purchase. Under normal circumstances, the Portfolio will invest at least 80% of its net assets in fixed income securities issued or guaranteed by foreign governments or their authorities, agencies, instrumentalities or political subdivisions. The fund is non-diversified.
About DFA International Government Fxd Inc I (DWFIX)
There are 3 members of the management team with an average tenure of 11.93 years: David Plecha (2011), Alan Hutchison (2020), Joseph Kolerich (2012). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Gbl Agg Ex USD TR Hdg USD index with a weighting of 100% and FTSE WGBI NonUSD Hdg USD index with a weighting of 100%. DFA International Government Fxd Inc I has 177 securities in its portfolio. The top 10 holdings constitute 41.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
DFA International Government Fxd Inc I is part of the Fixed Income global asset class and is within the Taxable Bond fund group. DFA International Government Fxd Inc I has 77.6% 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 77.6% (0.0% domestic bond, 77.6% foreign bond and 0.0% convertible bond). DFA International Government Fxd Inc I has 22.4% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $2 billion average for the Global Bond-USD Hedged 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.
DWFIX 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 International Government Fxd Inc I expense ratio is below average compared to funds in the Global Bond-USD Hedged category. DFA International Government Fxd Inc I has an expense ratio of 0.20%, which is 73% 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 International Government Fxd Inc I has a portfolio turnover rate of 56%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 195% for the Global Bond-USD Hedged category.
Recently, in the month of August 2026, DFA International Government Fxd Inc I returned -0.4%, which earned it a grade of F, as the Global Bond-USD Hedged category had an average return of 0.0%. 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 International Government Fxd Inc I has a trailing yield of 2.74%, which is below the 3.94% category average. The fund normally distributes its income annually 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 International Government Fxd Inc I Grades
Year to date, the fund has returned -0.1%, 0.2 percentage points worse than the category, which translates into a grade of C. The fund has returned 0.3% over the past year (grade of F), 3.7% over the past three years (grade of F) and -1.8% per year over the past five years (grade of F) and 0.6% per year over the past 10 years (grade of F).
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DWFIX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DWFIX Return (NAV) | -0.4% | -1.2% | 0.3% | 3.7% | -1.8% | 0.6% |
| DWFIX Grade | F | F | F | F | F | F |
| +/- Category | -0.4% | -0.7% | -1.3% | -0.8% | -2.2% | -1.2% |
| Global Bond-USD Hedged Avg | 0.0% | -0.5% | 1.7% | 4.5% | 0.4% | 1.8% |
| DWFIX Tax Cost Ratio | na | na | 1.1% | 1.5% | 1.0% | 1.1% |
DWFIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DWFIX Return (NAV) | -0.1% | 3.1% | 1.6% | 10.0% | -18.9% | -4.6% | 6.4% | 8.5% | 3.3% | 3.2% | 5.5% |
| DWFIX Grade | C | F | F | A | F | F | C | C | A | D | B |
| +/- Category | -0.2% | -2.0% | -1.8% | 2.1% | -6.9% | -2.9% | -0.4% | -0.0% | 3.2% | -1.1% | 1.0% |
| Global Bond-USD Hedged Avg | 0.2% | 5.2% | 3.4% | 7.9% | -12.0% | -1.7% | 6.7% | 8.6% | 0.1% | 4.3% | 4.5% |
| Risk Measures | |
| Standard Deviation: | 5.4% |
| Total Risk Index: | 0.44 - Low |
| Category Risk Index: | 1.20 - High |
| Category Risk Grade: | F (91% Rank) |
| Beta: | 0.84 |
| R-Squared: | 77% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 2.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1117 Mil |
| Fund Total Assets: | $1,118 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 56% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 14.8 years | |||
| Average Tenure: 11.9 years | |||
| Managers (Year): Plecha David (2011), Kolerich Joseph (2012), Hutchison Alan (2020) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 177 |
| % in Top 10 Holdings: | 41.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 77.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 77.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 22.4% |
Purchase Information
| Fund Family: | Dimensional Fund Advisors |
| Phone Number: | 888-576-1167 |
| Website: | www.dimensional.com |
| Status: | Open |
| Inception Date: | December 6, 2011 |
| 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 (%): | 0.20% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.73% |
| Share Class: | DFA International Government Fxd Inc I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
