Why are the DFA funds offered by Endowus and Moneyowl rated as large cap blend in the Morningstar style box?

Hi Anon,

This is a great question! DFA funds have a small-cap, value and profitability tilt, not focus.

What you would realise is that the top 10 holdings of some of the broad-based DFA funds such as DImensional World Equity Fund or Dimensional Global Core Equity Fund are still made up of the top US companies, just that the percentage is lower than the equivalent MSCI All Country World Index (MSCI ACWI) or (MSCI World Index).

The bulk of the holding is still made of large-cap growth companies, just that there is a tilt.

You can check out the definition of how Morningstar Style box defines the funds here. Hope that explains!