Dimensional National Municipal Bond ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 25 holdings as of Jan 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About DFNM
TheMunicipal Bond ETF will seek to achieve its investment objective by investing primarily in a universeof investment grade municipal securities, the interest on which is exempt from regular federal incometax. Municipal securities in which the Portfolio may invest include, among others, revenue bonds, generalobligation bonds, industrial development bonds, municipal lease obligations, commercial paper, variablerate 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 theDistrict of Columbia) and their political subdivisions, agencies and instrumentalities. The intereston the municipal securities purchased by the Portfolio, in the opinion of bond counsel for the issuersand under current tax law, is exempt from federal income tax (i.e., excludable from gross income forindividuals for federal income tax purposes but not necessarily exempt from state or local taxes). Asa 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 Portfoliodoes not currently intend to invest its assets in municipal securities whose interest is subject to thefederal alternative minimum tax.Under normal circumstances, the Portfoliowill generally maintain a weighted average duration of no more than one half year greater, and no lessthan one year below, the average duration of the S&P Intermediate Term National AMT-Free MunicipalBond Index, which was approximately 5.36 years as of December 31, 2025. From time to time, the Portfoliomay deviate from this duration range when Dimensional Fund Advisors LP (the “Advisor”) determinesit to be appropriate under the circumstances. In making purchase decisions, if the expected term premiumis greater for longer-term securities, the Advisor will focus investment in longer-term securities, otherwise,the Portfolio will focus investment in shorter-term securities. If a security has been or is expectedto be redeemed by the issuer at a date prior to the stated final maturity date for the purposes of theabove duration restriction, the early redemption date shall be considered the maturity date regardlessof the stated final maturity. If a security's coupon or interest rate is periodically reset, the resetdate will be considered for the purposes of the above duration restriction. Duration is a measure ofthe sensitivity of a security’s price to changes in interest rates. The longer a security’sduration, the more sensitive it will be to changes in interest rates.The fixed income securitiesin which the Portfolio invests are considered investment grade at the time of purchase (e.g., rated AAAto BBB- by S&P Global Ratings (“S&P”) or Fitch Ratings Ltd. (“Fitch”)or Aaa to Baa3 by Moody’s Ratings (“Moody’s”) or an equivalent rating assignedby another nationally recognized statistical rating organization, or that are unrated but have been determinedby the Advisor to be of comparable quality). Municipal securities are often issued to obtain funds forvarious public purposes, including the construction of a wide range of public facilities, such as bridges,highways, housing, hospitals, mass transportation facilities, schools, streets and public utilities,such as water and sewer works. Municipal securities include municipal leases, certificates of participation,municipal obligation components and municipal custody receipts. The Portfolio may invest more than 25%of its assets in municipal securities issued to finance projects in a particular segment of the bondmarket including, but not limited to, health care, housing, education, utilities, and transportation.The Portfolio also may invest more than 25% of its assets in industrial development bonds.ThePortfolio may (1) purchase certain municipal securities that are insured, (2) invest in municipal securitiessecured by mortgages on single-family homes and multi-family projects, (3) invest in pre-refunded municipalsecurities, (4) purchase tax-exempt municipal securities on a “when-issued” basis, and (5)use fixed income related futures and options contracts, credit default swaps and interest rate swapsto hedge against changes in interest rates. The Portfolio may also invest in exchange-traded funds (ETFs)to gain exposure to the municipal bond market pending investment in municipal bonds. The Portfolio mayalso invest in money market funds. The Portfolio also may purchase or sell futures contracts and optionson futures contracts, to hedge its interest rate exposure or for non-hedging purposes, such as a substitutefor direct investment or to increase or decrease market exposure based on actual or expected cash inflowsor outflows from the Portfolio.Although the Portfolio attempts to invest all of its assetsin tax-exempt securities, it is possible, although not anticipated, that a portion of its assets maybe invested in securities that pay taxable interest, including interest that may be subject to the federalalternative minimum tax. These investments could generate taxable income for shareholders.ThePortfolio is an actively managed exchange-traded fund and does not seek to replicate the performanceof a specific index and may have a higher degree of portfolio turnover than such index funds.
DFNM News
- (DFNM) Volatility Zones as Tactical Triggers
- Trading the Move, Not the Narrative: (DFNM) Edition
- Confluence Investment Management LLC Has $9.17 Million Stake in Dimensional National Municipal Bond ETF $DFNM
- (DFNM) Volatility Zones as Tactical Triggers
- Kestra Advisory Services LLC Acquires 18,501 Shares of Dimensional National Municipal Bond ETF $DFNM
- Price-Driven Insight from (DFNM) for Rule-Based Strategy
- Price-Driven Insight from (DFNM) for Rule-Based Strategy
- (DFNM) Price Dynamics and Execution-Aware Positioning
- Generations Wealth LLC Makes New Investment in Dimensional National Municipal Bond ETF $DFNM
Data for DFNM is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.