Dickinson College, a small private liberal arts school with an endowment managed by Investure LLC, posted a 4.4 percent investment loss in fiscal 2016, one of the worst returns among schools so far. At least 11 U.S. universities with assets of more than $1 billion reported declines for the year through June 30. Endowments of all sizes were down a median 0.74 percent, according to the Wilshire Trust Universe Comparison Service. The Wilshire data, from fund custodians, excludes fees while most schools report returns net of fees.