Dividend-adjusted total return · S&P 500 uses VOO · Nov 16, 2021 – Nov 4, 2026DFNMS&P 500 · VOO
Dimensional - National Municipal Bond ETFDFNM
$47.40
+0.3% last session
+0.7% YTD
Data as of 11/4/20264:00 PM ET · End-of-day
| Returns | 1D | 1M | 3M | YTD | 1Y | 3Y | 5Y | MAX |
|---|---|---|---|---|---|---|---|---|
| Total return | +0.3% | +3.0% | 0.0% | +0.7% | +1.3% | +11.7% | — | +6.1% |
| Peer average | +0.3% | +3.3% | −0.5% | +0.6% | +1.0% | +15.1% | +2.7% | — |
| S&P 500 · VOO | +1.6% | −1.6% | 0.0% | +13.4% | +13.5% | +91.7% | +81.2% | — |
Key Statistics
Open all fund facts →- AUM
- $2.3B
- Expense ratio
- 0.18%
- Distribution yield
- 3.0%
- NAV
- $47.23
- Volume
- 306K
- Avg. volume 30D
- 767K
- High today
- $47.44
- Low today
- $47.38
- Previous close
- $47.28
- 52-week high
- $48.87
- 52-week low
- $45.70
- Our risk indicator
- 2/5
DFNM in One Breath
DFNM Among Municipal ETFs
YTDEnd-of-day Nov 5, 2026 · 141 Municipal ETFs by YTD
$10,000 in DFNM
5Y$10,000 in DFNM became
$10,611
In the S&P 500 (VOO)
$17,524
Total return, dividends in · Nov 16, 2021 – Nov 4, 2026 · S&P 500 uses VOO
DFNM’s Top Holdings
TodayHARRIS 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%
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%
Dimensional DFNM · 1,017 holdings · top 22 shown · tile size = share of the fund · as of Nov 4, 2026
What DFNM Holds
TodayAll holdings100.0%
HARRIS CO · HUDSON CO · REVERE-BA · OYSTER 4% · SOMERVILL · HOBOKEN-A · MANCHESTE
Dimensional DFNM · share of the fund · as of Nov 4, 2026
Harris’ Share of DFNM
Today0.9%
$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 4, 2026
DFNM’s Share of Municipal ETFs
Today0.9%
of the $244B in 166 Municipal ETFs
$2.3B0.9%
$54.5B22.3%
$49.6B20.3%
$137B56.4%
Municipal ETF AUM · Nov 5, 2026
DFNM Fee per $100 vs Peers
TodayExpense ratio · Municipal peers · Nov 5, 2026
Inside DFNM
1,017 holdings · as of Nov 4, 2026DFNM
Dimensional - National Municipal Bond ETF
TodayAll 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 4, 2026 · each tile is one holding · top 20 = 11.2%
How It Compares
DFNM
Dimensional - National Municipal Bond ETF’s Peers
YTDMunicipal peers · YTD and past-year returns · as of Nov 5, 2026 · sorted by AUM
Head to Head
Put DFNM head to head with MUB →MUB vs DFNM
YTDYear to date
DFNM wins+0.6 pts
Past year
DFNM wins+0.7 pts
Fee
MUB winslower fee
Yield
MUB wins+0.3 pts
AUM
MUB23.5× more
2–2level
iShares MUB and Dimensional DFNM · year-to-date · as of Nov 5, 2026 · AUM not scored
DFNM vs VOO
YTDDFNM · Dimensional - National Municipal Bond
+0.7%
VOO · S&P 500
+13.4%
Gap
12.7 pts
Dimensional DFNM and Vanguard VOO · YTD total return · as of Nov 5, 2026
DFNM vs Its Peer Average
YTDDFNMAvsBPeer average
1D+0.3%+0.3%
1M+3.0%+3.3%
3M0.0%−0.5%
YTD+0.7%+0.6%
1Y+1.3%+1.0%
3Y+11.7%+15.1%
5Y[…]+2.7%
3–3level
165 Municipal peers · each row scaled to its leader
The Details
DFNM
Risk
1Y2/5our risk indicator
CalmerBumpier
Volatility · 1Y2.35%
Deepest drop · 1Y−4.6%
Lowest point · 5Y−6.5%
52-week range
$47.40
$45.70−3.0% from the high$48.87
Dimensional DFNM · past-year price moves · as of Nov 5, 2026
DFNM
Fund Facts
Today2021launched Nov 15
Tracks[…]
Exchange · CUSIPAMEX · 25434V849
StructureETF
Leverage1x
Cost on $10,000$18 a year
Go deeper
Dimensional DFNM · fund facts · as of Nov 5, 2026
DFNM
Payouts by Year
6Y$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
SEC reported portfolio · 2026-07-31 ↗SEC reported portfolio · 2026-04-30 ↗SEC reported portfolio · 2026-01-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-10-31 ↗SEC reported portfolio · 2025-07-31 ↗SEC reported portfolio · 2025-04-30 ↗SEC reported portfolio · 2025-01-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2024-10-31 ↗SEC reported portfolio · 2024-07-31 ↗SEC reported portfolio · 2024-04-30 ↗SEC reported portfolio · 2024-01-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2023-10-31 ↗SEC reported portfolio · 2023-07-31 ↗SEC reported portfolio · 2023-04-30 ↗SEC reported portfolio · 2023-01-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2022-10-31 ↗SEC reported portfolio · 2022-07-31 ↗SEC reported portfolio · 2022-04-30 ↗SEC reported portfolio · 2022-01-31 ↗summary prospectus · SEC 497K ↗
Trading & Liquidity
Net asset value$47.23
Premium / discount[…]
Median spread · 30D[…]
Volume today306K
Average volume · 30D767K
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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