Tax-Managed DFA International Value Portfolio


Inception Date
April 16, 1999 		Ticker Symbol
DTMIX		 CUSIP Number
233-203-546

The Tax-Managed DFA International Value Portfolio is a no-load mutual fund designed to achieve long-term capital appreciation. The Portfolio pursues its objective by investing in the stocks of large non-US companies which the Advisor believes to be value stocks at the time of purchase. Securities are considered value stocks primarily because a company's shares have a high book value in relation to their market value (BtM). This BtM sort excludes firms with negative or zero book values. In assessing value, additional factors such as price to cash flow or price to earning ratios may be considered, as well as economic conditions and developments in the issuer's industry. The criteria for assessing value are subject to change from time to time. The Portfolio seeks to minimize the impact of federal taxes on returns by deferring the realization of net capital gains and attempting to minimize the receipt of dividend income in order to minimize the taxable distributions to investors. The Portfolio currently invests in companies in Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and United Kingdom.

For a full description, please consult the Portfolio's prospectus.

Prices
Updated Daily
 
Date Closing Price NAV Change $ NAV Change %
October 10, 2008 $10.35 $-0.46 -4.26%

These Net Asset Values ("NAVs") have been prepared by the fund accounting agent. Dimensional Fund Advisors reserves the right to restate these NAVs, if necessary, at any time.


Performance
 
Updated Daily
Total Returns Year-to-Date
As of October 10, 2008 -45.47%


Updated Monthly
Total Returns One Month Three Month Year-to-Date
As of September 30, 2008 -10.76% -16.76% -28.09%
 
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of September 30, 2008 -30.48% 13.00% N/A 7.15%


Updated Quarterly
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of September 30, 2008 -30.48% 13.00% N/A 7.15%

Performance data represents past performance. Past performance is no guarantee of future results, and current performance may be higher or lower than the performance displayed. The investment return and principal value of an investment will fluctuate such that an investor's shares, when redeemed, may be worth more or less than their original cost. Total returns include reinvestment of dividends and capital gains and are net of all fees and expenses. Prior to April 2002, certain international equity portfolios charged a reimbursement fee to the purchasers of shares of those portfolios.


Annual Expenses Total Operating
Expense Ratio		 Net Expense Ratio
(to investor)
As of November 30, 2007 0.54% 0.54%



Distributions
Last 12 Months
 

Type		 Amount per Share Record Date Ex-dividend Date Payable Date Ex-dividend Price
Dividend $0.0800 9/8/2008 9/9/2008 9/12/2008 $14.41
Dividend $0.3990 6/9/2008 6/10/2008 6/13/2008 $17.35
Dividend $0.0120 3/7/2008 3/10/2008 3/13/2008 $16.93
Dividend $0.1490 12/18/2007 12/19/2007 12/24/2007 $18.94
LT Capital Gain $1.7050 12/18/2007 12/19/2007 12/24/2007 $18.94


Top Holdings
 

As of September 30, 2008
% of Portfolio
VODAFONE GROUP PLC 3.41
E.ON AG 3.20
BANCO SANTANDER SA 2.72
BNP PARIBAS 2.64
HSBC HOLDINGS PLC 2.35
VOLKSWAGEN AG 1.91
AXA SA 1.65
ROYAL DUTCH SHELL PLC 1.64
DAIMLER AG 1.57
CREDIT SUISSE GROUP AG 1.52
KONINKLIJKE PHILIPS ELECTRONICS NV 1.51
ALLIANZ SE 1.50
ARCELORMITTAL 1.49
ZURICH FINANCIAL SERVICES AG 1.28
ING GROEP NV 1.21
COMMONWEALTH BANK OF AUSTRALIA 1.17
DEUTSCHE TELEKOM AG 1.16
DEUTSCHE BANK AG 1.12
VIVENDI 1.09
VODAFONE GROUP PLC 1.04
Total 35.18


Sector Allocations
 
As of September 30, 2008 % of Portfolio
Consumer Discretionary 13.1
Consumer Staples 4.6
Energy 6.3
Financials 40.7
Health Care 0.4
Industrials 10.6
Information Technology 3.2
Materials 10.0
Other 0.0
Telecommunication Services 7.5
Utilities 3.6
Total 100.0

Sectors defined by MSCI.


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Market Risk
Even a long-term investment approach cannot guarantee a profit. Economic, political, and issuer-specific events will cause the value of securities, and the funds that own them, to rise or fall. Because the value of your investment in a fund will fluctuate, there is a risk that you will lose money.

Foreign Securities and Currencies Risk
Foreign securities prices may decline or fluctuate because of: (a) economic or political actions of foreign governments, and/or (b) less regulated or liquid securities markets. Investors holding these securities are also exposed to foreign currency risk (the possibility that foreign currency will fluctuate in value against the US dollar).

Tax Management Strategy Risk
Tax-management strategies may alter investment decisions and affect the portfolio holdings when compared to those of non-tax-managed mutual funds. Performance of the fund may deviate from that of non-tax-managed mutual funds.

Dimensional Fund Advisors is an investment advisor registered with the Securities and Exchange Commission. Consider the investment objectives, risks, and charges and expenses of the Dimensional funds carefully before investing. For this and other information about the Dimensional funds, please read the prospectus carefully before investing. Prospectuses are available by calling Dimensional Fund Advisors collect at (310) 395-8005; on the Internet at www.dimensional.com; or, by mail, DFA Securities Inc., c/o Dimensional Fund Advisors, 1299 Ocean Avenue, Santa Monica, CA 90401.

Mutual funds distributed by DFA Securities Inc.