DFA California Municipal Real Return Portfolio (DCARX)
The fund seeks to achieve its investment objective by investing primarily in a universe of municipal securities, including inflation-protected municipal securities, issued by or on behalf of California state or local governments and their agencies, instrumentalities, and regional governmental authorities, and in derivative instruments to provide inflation protection.
Fund Info
| ISIN | US25239Y3945 |
|---|---|
| Issuer | Dimensional Fund Advisors LP |
| Inception Date | Oct 31, 2017 |
| Category | Municipal Bonds |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
DCARX has a high expense ratio of 0.26%, indicating higher-than-average management fees.
Share Price Chart
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Popular comparisons: DCARX vs. FXAIX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in DFA California Municipal Real Return Portfolio, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
DFA California Municipal Real Return Portfolio had a return of 1.20% year-to-date (YTD) and 3.31% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.20% | 11.18% |
| 1 month | 0.12% | 5.60% |
| 6 months | 1.97% | 17.48% |
| 1 year | 3.31% | 26.33% |
| 5 years (annualized) | 2.64% | 13.16% |
| 10 years (annualized) | N/A | 10.99% |
Monthly Returns
The table below presents the monthly returns of DCARX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.13% | 0.44% | 0.12% | 0.41% | 1.20% | ||||||||
| 2023 | 1.04% | -0.67% | 1.48% | -0.74% | -0.80% | 0.81% | 0.32% | -0.12% | -0.41% | 0.29% | 1.14% | 0.28% | 2.63% |
| 2022 | -1.52% | 1.17% | -0.20% | -0.61% | 1.19% | -1.51% | 2.53% | -1.20% | -3.46% | 1.16% | 1.43% | 0.11% | -1.06% |
| 2021 | 0.46% | -0.10% | 0.68% | 0.74% | 0.74% | 0.35% | 1.21% | 0.25% | 0.05% | 1.00% | 0.33% | 0.34% | 6.21% |
| 2020 | 0.26% | -0.34% | -5.89% | 0.89% | 2.97% | 0.82% | 1.41% | 0.98% | -0.22% | -0.10% | 0.82% | 0.98% | 2.35% |
| 2019 | 1.37% | 0.50% | 0.41% | 0.45% | 0.32% | 0.31% | 1.12% | -0.44% | -0.80% | 0.25% | 0.41% | 1.10% | 5.08% |
| 2018 | -0.30% | -0.22% | 0.11% | -0.01% | 0.82% | 0.32% | 0.39% | 0.00% | -0.50% | -1.27% | 0.49% | -0.28% | -0.46% |
| 2017 | -1.15% | 0.96% | -0.21% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of DCARX is 86, placing it in the top 14% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
DCARX (DFA California Municipal Real Return Portfolio)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for DFA California Municipal Real Return Portfolio (DCARX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
DFA California Municipal Real Return Portfolio granted a 2.12% dividend yield in the last twelve months. The annual payout for that period amounted to $0.23 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.23 | $0.20 | $0.10 | $0.08 | $0.12 | $0.15 | $0.12 | $0.01 |
Dividend yield | 2.12% | 1.84% | 0.90% | 0.78% | 1.12% | 1.43% | 1.27% | 0.09% |
Monthly Dividends
The table displays the monthly dividend distributions for DFA California Municipal Real Return Portfolio. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.01 | $0.02 | $0.02 | $0.02 | $0.00 | $0.08 | |||||||
| 2023 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.20 |
| 2022 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.10 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2020 | $0.02 | $0.02 | $0.00 | $0.01 | $0.00 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.12 |
| 2019 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.15 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 |
| 2017 | $0.00 | $0.00 | $0.01 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the DFA California Municipal Real Return Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the DFA California Municipal Real Return Portfolio was 12.27%, occurring on Mar 20, 2020. Recovery took 100 trading sessions.
The current DFA California Municipal Real Return Portfolio drawdown is 0.09%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -12.27% | Jan 22, 2020 | 42 | Mar 20, 2020 | 100 | Aug 12, 2020 | 142 |
| -4.79% | Aug 3, 2022 | 42 | Sep 30, 2022 | 293 | Nov 30, 2023 | 335 |
| -3.18% | Mar 9, 2022 | 46 | May 12, 2022 | 19 | Jun 9, 2022 | 65 |
| -2.59% | Jun 13, 2022 | 13 | Jun 30, 2022 | 21 | Aug 1, 2022 | 34 |
| -2.17% | Jul 23, 2018 | 73 | Nov 1, 2018 | 78 | Feb 27, 2019 | 151 |
Volatility
Volatility Chart
The current DFA California Municipal Real Return Portfolio volatility is 0.36%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.