About DMREX
DFA Municipal Real Return Portfolio Institutional Class is a mutual fund managed by Dimensional Fund Advisors that seeks inflation protection and current income from municipal securities. It primarily invests in a diversified portfolio of investment-grade municipal bonds issued by state and local governments to fund public projects such as schools, water systems, utilities, education, and transportation. The fund allocates at least 80% of its net assets to municipal securities whose interest is exempt from federal income tax, with no more than 25% in the lowest quarter of the investment-grade spectrum. To enhance inflation protection, it incorporates inflation-protected municipal securities and derivative instruments like interest rate swaps tied to U.S. CPI indices. Classified in the Muni National Short category, it maintains short durations typically under 4.0 years and high credit quality, predominantly in AAA and AA-rated bonds, with sectors led by general obligation bonds. This institutional share class supports investors seeking tax-efficient, low-duration fixed income exposure with inflation hedging in the municipal bond market. Founded in 2014, it operates from Dimensional Fund Advisors' U.S. base.
Fund Family Dimensional Fund Advisors
Category Muni National Short
Performance Rating Above Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol DMREX
Index S&P Intermediate National AMT-Free Muni Bd TR USD
DMREX had a total return of 3.03% in the past year, including dividends.
Since the fund's inception, the average annual return has been 2.67%.
