Dimensional Global Credit ETF (DGCB) is an actively managed exchange-traded fund that seeks to maximize total returns from income and capital appreciation by investing primarily in a diversified portfolio of U.S. and foreign corporate debt securities, including investment-grade bonds rated between BBB- and A+ (or equivalent), maturing within 20 years from the issue date; government-related obligations; U.S. Treasury notes; and other fixed-income instruments such as those from supranational entities like the International Bank for Reconstruction and Development and the European Investment Bank, with allocations typically split between approximately 50% U.S. bonds and 50% non-U.S. bonds across developed markets.
The ETF employs hedging strategies, including currency forward contracts and credit default swaps, to manage risks associated with interest rates and foreign exchange fluctuations, while favoring securities from the lower half of the investment-grade spectrum for enhanced yield potential; it maintains geographic diversification across at least three countries, with at least 30% in non-U.S. issuers.
Launched on November 7, 2023, and domiciled in the United States, DGCB is issued by Dimensional ETF Trust and managed by Dimensional Fund Advisors LP, with co-managers including Dimensional Fund Advisors Ltd. and DFA Australia Limited; the fund is listed on the Nasdaq Stock Exchange, has net assets exceeding $770 million, and charges a net expense ratio of 0.20%.
In recent developments, Dimensional Fund Advisors has expanded its active ETF offerings internationally by listing its first UCITS-compliant active ETFs, including the Global Core Equity UCITS ETF and Global Targeted Value UCITS ETF domiciled in Ireland, on the London Stock Exchange and Xetra in Frankfurt as of November 2025; additionally, State Street Global Advisors announced support for these Dimensional UCITS ETF launches in December 2025, enhancing operational infrastructure for European distribution.
The ETF targets institutional and individual investors seeking global credit exposure through financial advisors and intermediaries, with top holdings including Australia & New Zealand Banking Group Ltd., ORIX Corp., Agence Francaise De Developpement, and United States Treasury Notes, comprising about 4-5% of the portfolio in its leading positions.