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ETFs

Dimensional National Municipal Bond ETF

DFNM
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Nov 15 2021
Expense Ratio
0.17%
Type
US Bonds
Fund Owner
Dimensional
Volume (1m avg. daily)
$5,241,775
AUM
$961,314,615
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
FAIRFAX C 4.% 10/01/29
1.15%
n/a
MIAMI-DAD 5.% 03/15/39
0.90%
n/a
ENERGY NW 5.% 07/01/28
0.87%
n/a
MIAMI-DAD 5.% 07/01/29
0.72%
n/a
MASSACHUS 5.% 10/01/29
0.71%
n/a
MADISON-A 5.% 10/01/26
0.70%
n/a
HAWAII ST 4.% 10/01/30
0.68%
n/a
MASSACHUS 5.% 07/01/36
0.63%
n/a
GWINNETT 5.% 08/01/27
0.57%
n/a
DIST OF C 5.% 06/01/30
0.56%
Invest with DFNM

What is DFNM?

The Municipal Bond ETF will seek to achieve its investment objective by investing primarily in a universe of investment grade municipal securities, the interest on which is exempt from regular federal income tax. Municipal securities in which the Portfolio may invest include, among others, revenue bonds, general obligation bonds, industrial development bonds, municipal lease obligations, commercial paper, variable rate demand obligations and other instruments (including participation interests in such securities) issued by or on behalf of the states, territories and possessions of the United States (including the District of Columbia) and their political subdivisions, agencies and instrumentalities. The interest on the municipal securities purchased by the Portfolio, in the opinion of bond counsel for the issuers and under current tax law, is exempt from federal income tax (i.e., excludable from gross income for individuals for federal income tax purposes but not necessarily exempt from state or local taxes). As a fundamental investment policy, under normal market conditions, the Portfolio will invest at least 80% of its net assets in municipal securities that pay interest exempt from federal income tax. The Portfolio does not currently intend to invest its assets in municipal securities whose interest is subject to the federal alternative minimum tax.

ETFs related toDFNM

ETFs correlated to DFNM include SCMB, IBMQ, IBMP

DFNM
Dimensional ETF Trust - Dimensional National Municipal Bond ETF
SCMB
Schwab Strategic Trust - Schwab Municipal Bond ETF
IBMQ
iShares Trust - iShares iBonds Dec 2028 Term Muni Bond ETF
IBMP
iShares Trust - iShares iBonds Dec 2027 Term Muni Bond ETF
JMUB
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Municipal ETF
MUB
BlackRock Institutional Trust Company N.A. - iShares National Muni Bond ETF
VTES
Vanguard Wellington Fund - Vanguard Short-Term Tax Exempt Bond ETF
CGMU
Capital Group Fixed Income ETF Trust - Capital Group Municipal Income ETF
VTEB
Vanguard Group, Inc. - Vanguard Tax-Exempt Bond ETF
CMF
BlackRock Institutional Trust Company N.A. - iShares California Muni Bond ETF
ITM
VanEck ETF Trust - VanEck Intermediate Muni ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

DFNM is a US Bonds ETF. The Municipal Bond ETF will seek to achieve its investment objective by investing primarily in a universe of investment grade municipal securities, the interest on which is exempt from regular federal income tax. Municipal securities in which the Portfolio may invest include, among others, revenue bonds, general obligation bonds, industrial development bonds, municipal lease obligations, commercial paper, variable rate demand obligations and other instruments (including participation interests in such securities) issued by or on behalf of the states, territories and possessions of the United States (including the District of Columbia) and their political subdivisions, agencies and instrumentalities. The interest on the municipal securities purchased by the Portfolio, in the opinion of bond counsel for the issuers and under current tax law, is exempt from federal income tax (i.e., excludable from gross income for individuals for federal income tax purposes but not necessarily exempt from state or local taxes). As a fundamental investment policy, under normal market conditions, the Portfolio will invest at least 80% of its net assets in municipal securities that pay interest exempt from federal income tax. The Portfolio does not currently intend to invest its assets in municipal securities whose interest is subject to the federal alternative minimum tax.

Yes, DFNM is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, DFNM is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on DFNM is -0.0113%. This is the percent change in the value of DFNM over the most recent 1-month period. The 3-month return on DFNM is -0.0181%. This is the percent change in the value of DFNM over the most recent 3-month period.

The standard deviation of DFNM for the past year is 0.0296%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to DFNM include SUB, HYD, and NYF.

ETFs correlated to DFNM include SCMB, IBMQ, and IBMP.

ETFs that are inversely correlated to DFNM include PST, TBX, and TMV.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.