Dimensional 2065 Target Date Retirement Income Fund
Data updated: 2026-09-24
C000216791 — Dimensional 2065 Target Date Retirement Income Fund. Target Date / Glide Path Allocation. Holdings, fees, performance and SEC filings.
C000216791 Fund Overview
Dimensional 2065 Target Date Retirement Income Fund is a US mutual fund managed by Dfa Investment Dimensions Group INC, categorised as Target Date / Glide Path Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Dfa Investment Dimensions Group INC
- Category: Target Date / Glide Path Allocation
- Assets under management: $56.33M
- 1-year return: 31.0%
- SEC CIK: 0000355437
- SEC series ID: S000067428
- Share class ID: C000216791
C000216791 Investment Objective and Strategy
Dimensional 2065 Target Date Retirement Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Dfa Investment Dimensions Group INC.
Investment objective
The investment objective of the Dimensional 2065 Target Date Retirement Income Fund (the 2065 Target Date Portfolio or the Portfolio) is to provide total return consistent with the Portfolios current asset allocation. Total return is composed of income and capital appreciation.
Principal investment strategy
The Portfolio is a fund of funds, which means that the Portfolio generally allocates its assets among other funds managed by Dimensional Fund Advisors LP (the Advisor), although it has the ability to invest directly in securities and derivatives. To achieve its investment objective, the 2065 Target Date Portfolio allocates its assets to other mutual funds managed by the Advisor (i.e., the Underlying Funds) according to an asset allocation strategy designed for investors planning to retire in or within a few years of 2065 (the target date) and are planning to withdraw the value of the investment in the Portfolio over many years after the target date. Over time, the Portfolios allocation to the Underlying Funds is expected to change based on an asset allocation strategy that generally becomes more conservative (reducing its allocation to equity Underlying Funds and increasing its allocation to fixed income Underlying Funds) until reaching the landing point, which is 15 years after the target date (i.e., 2080 in the case of the Portfolio), at which time the Portfolio reaches its final static asset allocation.
At the final landing point, the Portfolio is expected to reach a final static asset allocation of 15% to 25% of its assets allocated to domestic and international equity Underlying Funds and 75% to 85% of its assets allocated to fixed income Underlying Funds. The asset allocation strategy for the Portfolio reflects the need for reduced equity risk and lower volatility of the inflation-adjusted income the Portfolio may be able to support in retirement as an investor gets closer to the target date. When the Portfolio reaches the landing point, it is expected that the Advisor will recommend that the Board of Directors of the Portfolio approve combining the Portfolio with the Dimensional Retirement Income Fund, another fund managed by the Advisor, which is expected to have approximately the same asset allocation as the Portfolio at that time.
As of February 28, 2026, the 2065 Target Date Portfolio has a target allocation of 75% to 97% to equity Underlying Funds and a target allocation of approximately 3% to 25% to fixed income Underlying Funds, which may include exposure through those fixed income Underlying Funds to long-term and intermediate-term U.S. Treasury Inflation-Protected Securities (TIPS). As of February 28, 2026, the Portfolio may invest in: (1) domestic equity Underlying Funds that purchase a broad and diverse portfolio of securities of U.S. operating companies; (2) international equity Underlying Funds that purchase a broad and diverse portfolio of securities of companies in developed and emerging markets; and (3) fixed income Underlying Funds that may purchase U.S. and foreign debt securities such as obligations issued or guaranteed by the U.S.
and foreign governments, their agencies and instrumentalities, long-, intermediate- and short-term TIPS, bank obligations, commercial paper, repurchase agreements, money market funds, obligations of other domestic and foreign issuers, securities of domestic and foreign issuers denominated in U.S. dollars but not trading in the United States, obligations of supranational organizations, and inflation-protected securities. The fixed income Underlying Funds primarily invest in securities that are considered investment grade at the time of purchase and which have a range of maturities, including ultra-short, short, intermediate, and long-term. Certain equity Underlying Funds purchase a broad and diverse group of securities of companies with a greater emphasis on smaller capitalization, lower relative price, and higher profitability companies as compared to their representation in the universe of securities such Underlying Funds invest in.
A summary of the investment strategies and policies of the Underlying Funds in which the Portfolio invests as of the date of this Prospectus is described in the Portfolios Prospectus in the section entitled ADDITIONAL INFORMATION ON INVESTMENT OBJECTIVES AND POLICIES. The 2065 Target Date Portfolio and each Underlying Fund may purchase or sell futures contracts and options on futures contracts, to adjust market exposure based on actual or expected cash inflows to or outflows from the Portfolio or Underlying Fund. Certain Underlying Funds may enter into foreign currency exchange transactions, including foreign currency forward contracts, in connection with the settlement of foreign securities, to hedge foreign currency risks, to hedge against fluctuations in currency exchange rates or to transfer balances from one currency to another.
Certain Underlying Funds also may enter into swaps to hedge against inflation risk associated with certain securities or to buy or sell credit protection to hedge its credit exposure; gain market or issuer exposure without owning the underlying securities; or increase the Underlying Funds total return. Certain Underlying Funds also may purchase or sell futures contracts and options on futures contracts, to hedge their interest rate or currency exposure or for non-hedging purposes, such as a substitute for direct investment. Also, the 2065 Target Date Portfolio and the Underlying Funds may lend their portfolio securities to generate additional income.
C000216791 Holdings
Top 8 holdings of Dimensional 2065 Target Date Retirement Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| DFA US Large Company Portfolio | 34.19% |
| DFA US Core Equity 1 Portfolio | 33.98% |
| DFA Large Cap International Portfolio | 12.09% |
| Emerging Markets Core Equity 2 Portfolio | 8.68% |
| International Core Equity 2 Portfolio | 6.04% |
| DFA Two-Year Global Fixed Income Portfolio | 2.48% |
| DFA Short-Term Extended Quality Portfolio | 2.47% |
| State Street Global Advisors | 0.06% |
C000216791 Portfolio Allocation
Asset-class allocation of Dimensional 2065 Target Date Retirement Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.9% |
| Cash & Equivalents | 0.1% |
C000216791 Performance
Total returns for C000216791 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 7.4% |
| 1 year | 31.0% |
| 3 years (annualised) | 19.4% |
| 5 years (annualised) | 11.2% |
C000216791 Risk Information
Risk metrics for C000216791, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 11.8%
C000216791 Costs and Fees
C000216791 costs about $22 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.22%
- Gross expense ratio: 0.27%
- Portfolio turnover: 21%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000216791 Cashflows
Over the 12 months to 2026-04, Dimensional 2065 Target Date Retirement Income Fund had net inflows of $8.13M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $1.82M |
| 2026-03 | $953.99K |
| 2026-02 | $1.42M |
| 2026-01 | $803.76K |
| 2025-12 | −$676.88K |
| 2025-11 | $1.06M |
C000216791 Debt Constituents
No individual debt constituents are reported in Dimensional 2065 Target Date Retirement Income Fund's latest SEC N-PORT filing.
C000216791 Prospectus and SEC Filings
Official Dimensional 2065 Target Date Retirement Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-27
- Prospectus (485BPOS) — filed 2025-02-28
- Prospectus (485BPOS) — filed 2024-02-28
- Portfolio holdings (N-PORT) — filed 2026-09-24
- Portfolio holdings (N-PORT) — filed 2026-06-24
- Portfolio holdings (N-PORT) — filed 2026-03-27
- Annual census (N-CEN) — filed 2026-01-12
- Annual census (N-CEN) — filed 2025-01-10
Related Funds
Other Target Date / Glide Path Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.