DFA California Intermediate-Term Municipal Bond Portfolio (DCIBX)
The fund normally invests in a universe of municipal securities issued by or on behalf of California state or local governments and their agencies, instrumentalities and regional governmental authorities, the interest on which is exempt from regular federal income tax and the state personal income tax of California. It maintains a dollar-weighted average portfolio maturity of more than three years but less than ten years.
Fund Info
US23320G4304
Nov 28, 2011
$0
Expense Ratio
DCIBX has an expense ratio of 0.20%, which is considered low compared to other funds.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in DFA California Intermediate-Term Municipal Bond Portfolio, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
DFA California Intermediate-Term Municipal Bond Portfolio had a return of 0.31% year-to-date (YTD) and 1.79% in the last 12 months. Over the past 10 years, DFA California Intermediate-Term Municipal Bond Portfolio had an annualized return of 1.28%, while the S&P 500 had an annualized return of 11.26%, indicating that DFA California Intermediate-Term Municipal Bond Portfolio did not perform as well as the benchmark.
DCIBX
0.31%
0.60%
0.58%
1.79%
0.53%
1.28%
^GSPC (Benchmark)
3.96%
1.97%
9.03%
22.16%
12.60%
11.26%
Monthly Returns
The table below presents the monthly returns of DCIBX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.21% | 0.31% | |||||||||||
| 2024 | -0.18% | 0.04% | -0.21% | -0.70% | -0.41% | 0.93% | 0.78% | 0.84% | 0.65% | -0.77% | 0.84% | -0.61% | 1.19% |
| 2023 | 1.59% | -1.94% | 1.84% | -0.57% | -0.84% | 0.62% | 0.14% | -0.31% | -1.65% | -0.35% | 3.79% | 1.49% | 3.73% |
| 2022 | -1.98% | -0.22% | -1.80% | -1.37% | 1.37% | -0.30% | 1.65% | -1.64% | -2.17% | -0.08% | 2.53% | 0.31% | -3.75% |
| 2021 | 0.09% | -0.92% | 0.21% | 0.27% | -0.01% | -0.00% | 0.37% | -0.10% | -0.39% | -0.11% | 0.07% | -0.01% | -0.53% |
| 2020 | 0.92% | 0.39% | -2.17% | 0.21% | 2.56% | 0.05% | 0.85% | -0.27% | 0.01% | -0.26% | 0.41% | 0.11% | 2.78% |
| 2019 | 0.64% | 0.29% | 0.59% | -0.04% | 1.07% | 0.30% | 0.70% | 0.48% | -0.65% | 0.24% | 0.11% | 0.30% | 4.11% |
| 2018 | -0.14% | -0.20% | -0.04% | -0.38% | 0.90% | 0.12% | 0.33% | 0.11% | -0.56% | -0.34% | 0.76% | 0.80% | 1.35% |
| 2017 | 0.80% | 0.57% | 0.05% | 0.57% | 0.87% | -0.36% | 0.68% | 0.31% | -0.49% | 0.03% | -1.14% | 0.38% | 2.28% |
| 2016 | 1.16% | 0.28% | -0.33% | 0.57% | -0.26% | 0.96% | 0.21% | -0.07% | -0.37% | -0.36% | -2.53% | 0.49% | -0.30% |
| 2015 | 2.01% | -1.06% | 0.14% | -0.26% | -0.44% | 0.12% | 0.61% | 0.13% | 0.80% | 0.42% | -0.09% | 0.41% | 2.80% |
| 2014 | 1.59% | 0.84% | -0.83% | 1.42% | 0.93% | -0.04% | 0.24% | 1.11% | -0.43% | 0.53% | 0.13% | -0.15% | 5.45% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of DCIBX is 47, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for DFA California Intermediate-Term Municipal Bond Portfolio (DCIBX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
DFA California Intermediate-Term Municipal Bond Portfolio provided a 2.06% dividend yield over the last twelve months, with an annual payout of $0.21 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.21 | $0.21 | $0.18 | $0.12 | $0.11 | $0.15 | $0.16 | $0.15 | $0.14 | $0.15 | $0.17 | $0.18 |
Dividend yield | 2.06% | 2.06% | 1.68% | 1.15% | 1.05% | 1.35% | 1.47% | 1.43% | 1.31% | 1.45% | 1.61% | 1.69% |
Monthly Dividends
The table displays the monthly dividend distributions for DFA California Intermediate-Term Municipal Bond Portfolio. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.01 | $0.00 | $0.01 | ||||||||||
| 2024 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.21 |
| 2023 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.18 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2020 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.15 |
| 2019 | $0.02 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.16 |
| 2018 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.15 |
| 2017 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.14 |
| 2016 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.15 |
| 2015 | $0.00 | $0.03 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.17 |
| 2014 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.18 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the DFA California Intermediate-Term Municipal Bond Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the DFA California Intermediate-Term Municipal Bond Portfolio was 7.97%, occurring on Mar 20, 2020. Recovery took 69 trading sessions.
The current DFA California Intermediate-Term Municipal Bond Portfolio drawdown is 0.59%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -7.97% | Mar 10, 2020 | 9 | Mar 20, 2020 | 69 | Jun 29, 2020 | 78 |
| -7.29% | Feb 17, 2021 | 427 | Oct 25, 2022 | 445 | Aug 5, 2024 | 872 |
| -4.41% | May 6, 2013 | 35 | Jun 24, 2013 | 160 | Feb 11, 2014 | 195 |
| -3.68% | Aug 25, 2016 | 69 | Dec 1, 2016 | 159 | Jul 21, 2017 | 228 |
| -2.26% | Sep 12, 2017 | 156 | Apr 25, 2018 | 171 | Dec 28, 2018 | 327 |
Volatility
Volatility Chart
The current DFA California Intermediate-Term Municipal Bond Portfolio volatility is 0.50%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.