DFA Municipal Real Return Institutional DMREX

The fund seeks its investment objective by investing primarily in a universe of investment grade municipal securities, including inflation-protected municipal securities, and in derivative instruments to provide inflation protection. It will invest at least 80% of its net assets in municipal securities that pay interest exempt from federal income tax. No more than 25% of the fund's assets will be invested in municipal securities that, at the time of purchase, are rated in the lowest quarter of the investment grade spectrum.