C A SE S T U DY 2: EQ U I T IE S
Adding Value with Securities Lending
Funds may seek to generate additional revenue by lending out the securities held in
their portfolios. Dimensional ETFs are broadly diversified and have low turnover, which
makes them conducive to generating securities lending revenue. Dimensional puts
100% of securities lending revenue back into the portfolio for our investors.
6
1.30
1.76
2.29
6.85
3.37
13.61
US
International
Emerging
Markets
Dimensional
Peer Average
Outpacing
Peers
7
Average annual
lending revenue
relative to average net
assets for FY2020 to
FY2022 (in basis points)
FOR PROFESSIONAL USE ONLY. NOT FOR USE WITH RETAIL INVESTORS.
Securities lending involves risk—including counterparty risk—and possible loss. Revenue is not guaranteed and may fluctuate. Lending activities
are conducted by the custodians for the funds. Past performance is no guarantee of future results.
Non-Dimensional data provided by Morningstar. Dimensional data provided internally. Sample consists of US-domiciled ETFs and open-end funds. Annual values are
weighted averages across category groupings, shown in basis points. Averages are based on the annual values sourced each fiscal year (2020–2022). Peer average
excludes Dimensional funds.
