# DFNM (Dimensional National Municipal Bond ETF)

Dimensional · Bond ETFs · Municipal, national, intermediate · data as of Oct 2, 2026

DFNM is actively managed and returned −0.7% over the past year.

## Key facts

- DFNM, total return, 1 year: −0.7%, as of Oct 2, 2026.
- DFNM, expense ratio: 0.17%, as of Oct 2, 2026.
- DFNM, holdings: 1198, as of Oct 2, 2026.
- DFNM, below its high: −3.6%, as of Oct 2, 2026.
- DFNM, net assets: $2.2bn (SEC filing, whole fund, as filed for Jul 31, 2026).

## DFNM over each window to Oct 2, 2026

| Window | Total return | S&P 500 | Gap to S&P 500 | Gap to Nasdaq-100 |
| --- | --- | --- | --- | --- |
| 3 months | −3.6% | +3.6% | −7.2 pts | −8.9 pts |
| 6 months | −2.4% | +17.9% | −20.3 pts | −30.8 pts |
| 1 year | −0.7% | +16.2% | −16.9 pts | −25.0 pts |
| 3 years | +8.7% | +89.3% | −80.5 pts | −106.0 pts |
| Since listing | +3.3% | +75.4% | −72.1 pts | −91.0 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| What it tracks | No index, actively managed | ETFIQ |
| Fund type | Bond fund | ETFIQ |
| Category | Bonds · Municipal, national, intermediate | ETFIQ |
| Expense ratio | 0.17% | 485BPOS XBRL, Feb 27, 2026 |
| Price | $46.26 | ETFIQ |
| Listed since | Nov 16, 2021 | ETFIQ |
| Net assets | $2.2bn | SEC filing, whole fund, as filed for Jul 31, 2026 |
| Below its high | −3.6% | ETFIQ |
| Holdings | 1198 | ETFIQ |
| Top ten weight | 6.0% | ETFIQ |
| Holdings as of | Jul 31, 2026 | SEC N-PORT |

## Questions

### How has DFNM performed?

Over the year to Oct 2, 2026, DFNM returned −0.7% with distributions reinvested, against +16.2% for the S&P 500. Over three years the figure is +8.7%.

### What does DFNM cost?

The prospectus expense ratio is 0.17% a year.

### How far is DFNM below its high?

3.6% below its high of Jul 2, 2026, measured on the reinvested series to Oct 2, 2026.


## Cite this page

ETFIQ, DFNM, data as of Oct 2, 2026. https://etfiq.com/funds/dfnm
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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