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DFA California Intermediate-Term Municipal Bond Portfolio (DCIBX) Sharpe Ratio: 3.01

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

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.

DCIBX's Sharpe Ratio of 3.01 indicates that for each unit of volatility, it generates 3.01 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 3, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

DCIBX Sharpe Ratio Rank

DCIBX Sharpe Ratio Rank: 90.390
Exceptional

DCIBX ranks above 90.3% of all investments in our database based on Sharpe Ratio over the past 12 months, demonstrating exceptional risk-adjusted returns. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Suitable as a core holding given strong risk-adjusted returns
  • Monitor rank changes to detect deteriorating return-to-volatility profile
  • Exceptional Sharpe ratio supports larger position sizes
  • Compare with category peers to assess whether strength is investment-specific or category-wide

DCIBX Sharpe Ratio Market Positioning

The chart shows DCIBX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.42 or lower
  • Yellow zone (middle 50%): 1.42 to 2.51
  • Green zone (top 25%): 2.51 or higher
  • Top 1%: 4.65+
  • Median: 2.09 — half of all investments score higher

How it compares to other similar mutual funds

The table compares DFA California Intermediate-Term Municipal Bond Portfolio's Sharpe Ratio with other mutual funds in the Municipal Bonds category across multiple time periods, showing how DCIBX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 3, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
DFABXDFA Short-Term Selective State Municipal Bond Portfolio4.77
DNYMXDFA NY Municipal Bond Portfolio4.63
USMTXJPMorgan Ultra-Short Municipal Fund4.52
DFCMXDFA California Short Term Municipal Bond Portfolio4.46
DFSMXDFA Short Term Municipal Bond Portfolio4.16
USMSXJPMorgan Ultra-Short Municipal Fund4.15
BTMSXBaird Short-Term Municipal Bond Fund3.69
DMREXDFA Municipal Real Return Portfolio3.58
BATVXBlackRock Allocation Target Shares3.57
ATOIXabrdn Ultra Short Municipal Income Fund3.50
DCIBXDFA California Intermediate-Term Municipal Bond Portfolio3.01

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows DCIBX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when DCIBX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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How does DCIBX fit in your portfolio?

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