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Why doesnt Dimensional offer portfolios investing in mortgage-backed securities, convertible bonds, or high yield debt?

April 26, 2017bonds convertible dimensional high Investing mortgage-backed Offer portfolios securities yield

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Why doesnt Dimensional offer portfolios investing in mortgage-backed securities, convertible bonds, or high yield debt?

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Dimensional believes that five factors explain the vast majority of returns in diversified portfolios (market, size, and value for equities; term risk and default risk for fixed income). They also appear to explain the behavior of hybrid asset classes such as high yield bonds or convertible securities. In general, the behavior of these asset classes can be captured more reliably and at lower cost by using some combination of structured equity strategies combined with high-grade short-term fixed income securities.