Dimensional Global Sustainability Fixed Income ETF

Dimensional Global Sustainability Fixed Income ETF (DFSB) is an actively managed fund. It holds investment-grade bonds from governments, agencies and companies in the US and other developed countries, and it hedges foreign currency exposure back to the dollar. It also screens out or underweights issuers it judges less sustainable. Its 0.24% fee is above the 0.10% average of similar bond funds. Even so, it beat its global bond benchmark from launch through December 31, 2025.

• Over the year to Oct 27, 2026, DFSB returned -0.7%, 7th of 8 among similar funds.
• Its worst full calendar year was 2024 (+2.5%); its best was 2023 (+9.3%).
• The deepest fall in its price history was 5.2% (Feb 2, 2023 to Oct 19, 2023), recovered by Nov 29, 2023.

As of Jul 31, 2026, the fund held 725 securities; the ten largest made up 14.22% of assets.

The bonds mature in 10.1 years on average (weighted by size), with an average coupon of 3.78%.

• Over the three months to Jul 31, 2026, investors added a net $74.9M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +1.06%, +0.44%, -1.37%.

DFSB does not track an index. Dimensional's managers pick from a broad universe of investment-grade bonds. These are bonds rated BBB- or higher by S&P or Fitch, or Baa3 or higher by Moody's, from US and foreign governments, agencies, companies and lenders owned by several countries, such as the Asian Development Bank. Under normal conditions, at least 80% of net assets must be investment grade. The managers add longer maturities or corporate bonds when they expect extra return for taking that interest-rate or credit risk, and cut back when they don't.

The fund's yardstick is the Bloomberg Global Aggregate Bond Index (Hedged to USD). Duration measures how much a bond's price moves when rates change. DFSB generally keeps its duration between one year below and half a year above the index's, which was about 6.34 years as of December 31, 2025. On top of this, a sustainability screen excludes or underweights issuers Dimensional considers less sustainable. Portfolio turnover was 17%.

The fund uses currency forward contracts to hedge foreign currencies, so swings in the yen or pound should matter less. It may also use futures, options and credit default swaps, buy mortgage bonds in the forward (TBA) market, and lend securities. As of July 31, 2026, it held 725 issues. The top 10 made up 14% of assets, led by Fannie Mae mortgage pools and a UK gilt.

• DFSB charges 0.24% a year, versus an average of 0.1% for the similar funds below (7th of 8, cheapest first).
• Of that, 0.2% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.01% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $25 in the first year and $306 over 10 years (assuming a 5% annual return).

It is a broad, currency-hedged, investment-grade bond fund that could form the bond portion of a portfolio, spread across several developed countries.

DFSB spreads interest-rate and credit risk across the US, Canada, the UK, Belgium, Japan and other developed markets. Its record is short. It launched on November 15, 2022, so it was not around for the 2008, 2020 or 2022 sell-offs. Its weakest calendar year so far, 2024, was still a 2.59% gain, according to the prospectus. Its deepest drop was 5.2%, from February 2 to October 19, 2023, and it was back to its old high by November 29, 2023. That points to modest swings for someone selling shares or drawing income, but a longer rise in interest rates could hurt more. The trailing yield was 5.45% as of October 27, 2026, paid quarterly. In the SEC's standard example, the 0.24% fee costs $25 in the first year on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).