Dimensional - National Municipal Bond ETFDFNM

DimensionalBonds & CashMunicipal#369 of 785 by YTD

$47.28

+0.1% last session

+0.4% YTD

Data as of 11/3/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Dec 31, 2025 – Nov 3, 2026DFNMS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+0.1%	+2.6%	−0.3%	+0.4%	+1.0%	+11.4%	—	+5.8%
Peer average	0.0%	+2.9%	−0.9%	+0.3%	+0.6%	+14.6%	+2.5%	—
S&P 500 · VOO	+0.3%	−2.6%	−1.7%	+11.5%	+11.9%	+90.9%	+77.5%	—

Key Statistics

Open all fund facts →

AUM: $2.3B
Expense ratio: 0.18%
Distribution yield: 3.0%
NAV: $47.23
Volume: 622K
Avg. volume 30D: 779K
High today: $47.32
Low today: $47.13
Previous close: $47.22
52-week high: $48.87
52-week low: $45.70
Our risk indicator: 2/5

DFNM in One Breath

DFNM Among Municipal ETFs

YTD

#1MMMANY Life Investments+2.2%$59.3M

#2MYMGSPDR+1.9%$8.6M

#3SMMUPIMCO+1.9%$1.3B

#4MYMFSPDR+1.9%$8.7M

#5IBMOiShares+1.9%$499M

#6FTMSFranklin Templeton+1.9%$265M

#7MMSDNY Life Investments+1.8%$87.1M

#8MUNAFlexShares+1.8%$8.0M

#58DFNMDimensional+0.4%$2.3B

End-of-day Nov 4, 2026 · 141 Municipal ETFs by YTD

$10,000 in DFNM

$10,000 in DFNM became

$10,584

In the S&P 500 (VOO)

$17,245

Total return, dividends in · Nov 16, 2021 – Nov 3, 2026 · S&P 500 uses VOO

DFNM’s Top Holdings

Today

HARRIS CO VRN Harris Vrn 10/01/410.9%HUDSON CO 4.0.8%REVERE-BA 4.0.7%OYSTER 4% 00.7%SOMERVILL 4.0.7%HOBOKEN-A 4.0.7%MANCHESTE 4.0.6%MICHIGAN 5.0.6%NY DORM 5% 00.6%MONMOUT 4% 00.5%NY ST THR 5.0.5%MARYLAND 5.0.5%NEW MEXIC 5.0.5%FAIRFAX C 4.0.5%ORLANDO 5% 10.5%MIAMI-DAD 5.0.5%CHARLESTO 5.0.5%HOUSTON-T 5.0.4%DANBURY 4% 00.4%COBB CO S 4.0.4%WISCONSIN 5%0.4%MASSACHUS 5.0.4%

Dimensional DFNM · 1,017 holdings · top 22 shown · tile size = share of the fund · as of Nov 3, 2026

What DFNM Holds

Today

All holdings100.0%

HARRIS CO · HUDSON CO · REVERE-BA · OYSTER 4% · SOMERVILL · HOBOKEN-A · MANCHESTE

Dimensional DFNM · share of the fund · as of Nov 3, 2026

Harris’ Share of DFNM

Today

0.9%

$9 of every $1,000 in DFNM is Harris

Harris held by DFNM

$20.4M

Dimensional DFNM · each square = $10 of $1,000 · as of Nov 3, 2026

DFNM’s Share of Municipal ETFs

Today

0.9%

of the $244B in 166 Municipal ETFs

DFNM$2.3B0.9%

MUB$54.5B22.3%

VTEB$49.6B20.3%

163 others$137B56.4%

Municipal ETF AUM · Nov 4, 2026

DFNM Fee per $100 vs Peers

Today

$0.18a year
per $100

$18 a year on $10,000

VTEB$0.03

MUB$0.05

SUB$0.07

DFNM$0.18

JMUB$0.18

CGMU$0.27

Expense ratio · Municipal peers · Nov 4, 2026

Inside DFNM

1,017 holdings · as of Nov 3, 2026

DFNM

Dimensional - National Municipal Bond ETF

Today

All holdings100.0%1,003 more holdings91.5% of the fund

All holdings100.0%1,011 more holdings95.6% of the fund

#	Ticker	Company	Weight ▼
1	—	Harris VRN 10/01/41	0.88%
2	—	Hudson 4.% 02/24/27	0.79%
3	—	Revere-ba 4.% 07/29/27	0.71%
4	—	Oyster 4% 08/20/27	0.66%
5	—	Somervill 4.% 05/28/27	0.66%
6	—	Hoboken-a 4.% 03/08/27	0.66%
7	—	Mancheste 4.% 11/12/26	0.58%
8	—	Michigan 5.% 08/15/42	0.57%
9	—	NY Dorm 5% 03/15/41	0.56%
10	—	Monmout 4% 07/15/27	0.50%

Dimensional DFNM · current holdings by weight · as of Nov 3, 2026 · each tile is one holding · top 20 = 11.2%

How It Compares

DFNM

Dimensional - National Municipal Bond ETF’s Peers

YTD


MUB	iSharesRead Desk	0.05%	−0.4%	+0.1%	$54.5B
VTEB	VanguardRead Desk	0.03%	−0.3%	+0.1%	$49.6B
SUB	iSharesRead Desk	0.07%	+1.4%	+2.2%	$13.3B
JMUB	J.P. MorganRead Desk	0.18%	0.0%	+0.3%	$9.0B
CGMU	Capital GroupRead Desk	0.27%	+0.5%	+1.1%	$7.5B
DFNM	DimensionalThis fundRead Desk	0.18%	+0.4%	+1.0%	$2.3B

Municipal peers · YTD and past-year returns · as of Nov 4, 2026 · sorted by AUM

Head to Head

Put DFNM head to head with MUB →

MUB vs DFNM

YTD

MUBiShares · MunicipalDFNMDimensional · Municipal

Year to date

−0.4%

+0.4%

DFNM wins+0.8 pts

Past year

+0.1%

+1.0%

DFNM wins+0.9 pts

Fee

0.05%

0.18%

MUB winslower fee

Yield

3.3%

3.0%

MUB wins+0.3 pts

AUM

$54.5B

$2.3B

MUB23.5× more

2–2level

iShares MUB and Dimensional DFNM · year-to-date · as of Nov 4, 2026 · AUM not scored

DFNM vs VOO

YTD

DFNM · Dimensional - National Municipal Bond

+0.4%

VOO · S&P 500

+11.5%

Gap

11.1 pts

Dimensional DFNM and Vanguard VOO · YTD total return · as of Nov 4, 2026

DFNM vs Its Peer Average

YTD

DFNMAvsBPeer average

1D+0.1%0.0%

1M+2.6%+2.9%

3M−0.3%−0.9%

YTD+0.4%+0.3%

1Y+1.0%+0.6%

3Y+11.4%+14.6%

5Y[…]+2.5%

4–2DFNM wins

165 Municipal peers · each row scaled to its leader

The Details

DFNM

Risk

2/5our risk indicator

CalmerBumpier

Volatility · 1Y2.33%

Deepest drop · 1Y−4.6%

Lowest point · 5Y−6.5%

52-week range

$47.28

$45.70−3.3% from the high$48.87

Dimensional DFNM · past-year price moves · as of Nov 4, 2026

DFNM

Fund Facts

Today

2021launched Nov 15

Tracks[…]

Exchange · CUSIPAMEX · 25434V849

StructureETF

Leverage1x

Cost on $10,000$18 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Dimensional DFNM · fund facts · as of Nov 4, 2026

DFNM

Payouts by Year

$0.13per share, Oct 2026

Distribution yield3.0%

PaidEvery month

Latest ex-date · paidOct 20 · Oct 22, 2026

12 payouts added up$1.43 a share

Dimensional DFNM · distributions by ex-date · 2021–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

Trading & Liquidity

Net asset value$47.23

Premium / discount[…]

Median spread · 30D[…]

Volume today622K

Average volume · 30D779K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.18%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$18.00

Our risk indicator2/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Oct 20, 2026	Oct 22, 2026	$0.13
Sep 22, 2026	Sep 24, 2026	$0.13
Aug 18, 2026	Aug 20, 2026	$0.11
Jul 21, 2026	Jul 23, 2026	$0.12
Jun 23, 2026	Jun 25, 2026	$0.13
May 19, 2026	May 21, 2026	$0.11
Apr 21, 2026	Apr 23, 2026	$0.0975
Mar 24, 2026	Mar 26, 2026	$0.14
Feb 18, 2026	Feb 20, 2026	$0.10
Jan 21, 2026	Jan 23, 2026	$0.0419
Dec 16, 2025	Dec 18, 2025	$0.22
Nov 18, 2025	Nov 20, 2025	$0.11

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