Emerging Markets Social Core Equity Portfolio


Inception Date
August 31, 2006 		Ticker Symbol
DFESX		 CUSIP Number
233-203-363

The Emerging Markets Social Core Equity Portfolio is a no-load mutual fund designed to achieve long-term capital appreciation. The Portfolio seeks to purchase a broad and diverse group of securities, with an increased exposure to securities of small cap issuers and securities that it considers to be value securities. In assessing value, Dimensional may consider factors such as the issuer's securities having a high book value in relation to their market value, as well as price to cash flow or price to earnings ratios. Dimensional considers, among other factors, information disseminated by the International Finance Corporation in determining and approving countries that have emerging markets.

The Portfolio seeks to exclude from investment certain companies that are identified by the Portfolio's social screens. These screens were designed to meet the social investing needs of shareholders, and currently include limitations on businesses participating in gambling; the production and/or sale of alcohol, tobacco, or military weapons; those actively conducting business in or with Sudan; and other screens as reflected in the prospectus. An independent third-party service provider has been engaged to monitor the Portfolio's social screens and determine which securities to exclude from the Portfolio based upon the social screens. The Portfolio is constructed to meet the social investing needs of shareholders; and as such, the purchase or sale of specific securities in the portfolio should not be construed as a judgment of Dimensional Fund Advisors relating to any social issue. The Portfolio currently invests in companies in Brazil, Chile, China, the Czech Republic, Hungary, India, Indonesia, Israel, Malaysia, Mexico, the Philippines, Poland, South Africa, South Korea, Taiwan, Thailand, and Turkey.

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

Prices
Updated Daily
 
Date Closing Price NAV Change $ NAV Change %
January 7, 2009 $7.18 $-0.29 -3.88%

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 January 7, 2009 2.13%


Updated Monthly
Total Returns One Month Three Month Year-to-Date
As of December 31, 2008 10.14% -27.29% -52.00%
 
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of December 31, 2008 -52.00% N/A N/A -9.28%


Updated Quarterly
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of December 31, 2008 -52.00% N/A N/A -9.28%

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 0.66% 0.66%

Dimensional has contractually agreed to waive certain fees and assume expenses for a one-year period set to terminate on April 1 unless renewed. Dimensional may seek reimbursement for amounts previously waived under the conditions outlined in the prospectus.


Distributions
Last 12 Months
 

Type		 Amount per Share Record Date Ex-dividend Date Payable Date Ex-dividend Price
Dividend $0.0500 12/9/2008 12/10/2008 12/15/2008 $6.79
Dividend $0.0990 9/8/2008 9/9/2008 9/12/2008 $10.54
Dividend $0.1100 6/9/2008 6/10/2008 6/13/2008 $13.62
Dividend $0.0160 3/7/2008 3/10/2008 3/13/2008 $13.20


Top Holdings
 

As of November 30, 2008
% of Portfolio
CHINA MOBILE LTD 1.50
AMERICA MOVIL SAB DE CV 1.41
SASOL LTD 1.41
CIA VALE DO RIO DOCE 1.22
BANCO ITAU HOLDING FINANCEIRA SA 1.15
CHINA CONSTRUCTION BANK CORP 1.13
CIA VALE DO RIO DOCE 1.05
INDUSTRIAL & COMMERCIAL BANK OF CHINA 1.03
SAMSUNG ELECTRONICS CO LTD 0.98
STANDARD BANK GROUP LTD 0.89
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 0.88
PETROLEO BRASILEIRO SA 0.74
BANCO BRADESCO SA 0.73
SANLAM LTD 0.72
CHINA UNICOM HONG KONG LTD 0.71
CHINA LIFE INSURANCE CO LTD 0.71
INFOSYS TECHNOLOGIES LTD 0.71
POSCO 0.69
CEMEX SAB DE CV 0.67
UNIBANCO - UNIAO DE BANCOS BRASILEIROS SA 0.66
Total 18.99


Sector Allocations
 
As of November 30, 2008 % of Portfolio
Consumer Discretionary 8.2
Consumer Staples 7.4
Energy 6.0
Financials 25.2
Health Care 0.1
Industrials 10.2
Information Technology 8.8
Materials 18.4
Other 0.0
Telecommunication Services 10.6
Utilities 5.1
Total 100.0

Sectors defined by MSCI.


View proxy vote filings.

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.

Emerging Markets Risk
Numerous emerging countries have recently experienced serious, and potentially continuing, economic and political problems. Stock markets in many emerging countries are relatively small, expensive and risky. Foreigners are often limited in their ability to invest in, and withdraw assets from, these markets. Additional restrictions may be imposed under other conditions.

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).

Small Company Risk
Securities of small firms are often less liquid than those of large companies. As a result, small company stocks may fluctuate relatively more in price.

Social Investment Risk
Social issue screens may limit the number of investment opportunities available; and as a result, at times, investors may experience more modest gains than when investing in a fund not subject to such special investment conditions.

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.