DFA World ex-US Government Fixed Income Individual Investment Option

Strategy
The World ex-US Government Fund seeks its investment objective by investing in a universe of obligations issued primarily by non-US government issuers and supranational organizations and their agencies having investment grade credit ratings at the time of purchase. As a non-fundamental policy, under normal circumstances, the Fund will invest at least 80% of its net assets in fixed income securities issued by foreign governments (including political subdivisions) and their authorities, agencies or instrumentalities. Generally, the World ex-US Government Fund will purchase fixed income securities that mature between five and fifteen years from the date of settlement. The Fund ordinarily will have an average weighted maturity, based upon market values, between three and twelve years. Because many of the World ex-US Government Fund's investments may be denominated in foreign currencies, the Fund may also enter into forward foreign currency contracts to attempt to protect against uncertainty in the level of future foreign currency rates, to hedge against fluctuations in currency exchange rates or to transfer balances from one currency to another.

Risk

As with all investments, there are certain risks of investing in the Fund. The Fund’s shares will change in value, and you could lose money by investing in the Fund. The value of the debt securities may increase or decrease as a result of the following: market risk, foreign securities and currencies risk, foreign government debt risk, interest rate risk, non-diversification risk and credit risk. Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk, income risk, derivatives risk, liquidity risk, securities lending risk, and cyber security risk.

The Fund is also subject to interest rate risk.

Prices and Performance: Click here to review.

Expense Ratio: The estimated overall expense ratio for this Portfolio is:

Underlying Estimated Fund Expenses:1 0.20%
Program Management Fee: 0.27%
State Administrative Fee: 0.03%
TOTAL: 0.50%

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1 As of June 30, 2017.

Historical prices: Search for historical price information