Dimensional Fund AdvisorsMuni National IntermediateDFNM · NYSE Arca

Dimensional National Municipal Bond ETF (DFNM)

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Price: $46.93; —11 Sept 2026
Assets: $2.3B; Total net assets
Expense ratio: 0.17%; Category 0.62%
Yield: 2.96%; Trailing distributions

1Y return: 0.5%0.0%; Category 0.5%
3Y CAGR: 2.7%-0.4%; Category 3.1%
5Y CAGR: —; Category 0.4%

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Dimensional National Municipal Bond ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-1.8%	-2.0%	-1.6%	-0.9%	+0.5%	+2.7%	—	—	+0.9%
Muni National Intermediate average	-2.3%	-2.5%	-1.9%	-1.0%	0.5%	3.1%	0.4%	1.7%	1.6%
Difference	+0.5%	+0.5%	+0.3%	+0.2%	0.0%	-0.4%	—	—	-0.7%

Holdings

Allocation as last published by the fund.

Credit quality

Share of the bonds by rating.

AAA24.2%
AA62.2%
A12.0%
BBB1.7%

Asset mix

Bonds97.3%
Cash2.7%

ETF details

Issuer: Dimensional Fund Advisors
Category: Fixed Income · Muni National Intermediate
Ticker: DFNM
Exchange: NYSE Arca
Inception: 15 Nov 2021 (4.8 years)
Structure: Exchange Traded Fund
Expense ratio: 0.17% (category 0.62%)
Holdings turnover: 42% (category 43%)
Distribution yield: 2.96%
Beta, 3 years: 0.58
Total net assets: $2.3B
Average duration: 4.76 years
Average maturity: 10.39 years

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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