DFNMDimensional National Municipal Bond ETF
Seeks current income that is expected to be exempt from federal personal income tax.
By Dimensional Fund Advisors · Launched 2021
Annual Cost
0.17%
#746 of 6,040 · low cost
Fund Size
$2.3B
#728 of 6,040 · large
Return (1Y)
+0.2%
Track Record
4 years
#2,499 of 6,040 · seasoned
Performance
Total-return NAV · USDGrowth of $10,000
$10,010+0.1%
Total-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundHoldings
By weightConcentration
Top 10 holdings = 6.5% of funddiversified
HUDSON CNTY N J
0.9%
BROWARD CNTY FLA SCH DIST
0.8%
HOBOKEN N J
0.7%
SUFFOLK CNTY N Y
0.7%
MICHIGAN ST UNIV REVS
0.6%
MANCHESTER N H
0.6%
MARYLAND ST
0.5%
NEW MEXICO ST
0.5%
FAIRFAX CNTY VA
0.5%
MIAMI-DADE CNTY FLA
0.5%
Asset allocation
Bonds
97.3%
Cash
2.7%
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsVolatility (1Y)
1.8%Low
Year-on-year price swings
Max drawdown
-7.0%Mild
Worst peak-to-trough loss
Sharpe (3Y)
-0.55Below average
Sortino (3Y)
-0.71Moderate downside risk
Bond profile
Duration
4.8 years
Avg maturity
10.4 years
Credit ratings
AAA
24.2%
AA
62.2%
A
11.9%
BBB
1.7%
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks current income that is expected to be exempt from federal personal income tax.
- Strategy
- Actively manages a portfolio primarily invested in investment grade municipal securities issued by U.S. states and territories, aiming for current income exempt from federal personal income tax. The fund may invest in various municipal securities, including revenue bonds and general obligation bonds.
- Inception date
- November 15, 2021
- Fund family
- Dimensional Fund Advisors
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Data updated on 2026-09-18