- ISIN
- US25239Y2798
- Issuer
- Dimensional
- Inception Date
- Apr 11, 2022
- Category
- Municipal Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
DFABX Performance Chart
DFA Short-Term Selective State Municipal Bond Portfolio (DFABX) is up 1.0% since the beginning of the year. DFABX is currently trading at $10 per share.
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Returns By Period
DFA Short-Term Selective State Municipal Bond Portfolio (DFABX) has returned 0.98% so far this year and 2.66% over the past 12 months.
DFA Short-Term Selective State Municipal Bond Portfolio
- 1D
- 0.00%
- 1M
- 0.20%
- YTD
- 0.98%
- 6M
- 1.10%
- 1Y
- 2.66%
- 3Y*
- 2.82%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.41%
- 1M
- 4.48%
- YTD
- 10.79%
- 6M
- 10.60%
- 1Y
- 27.02%
- 3Y*
- 21.07%
- 5Y*
- 12.39%
- 10Y*
- 13.65%
DFABX Monthly Returns History
Based on dividend-adjusted daily data since Apr 14, 2022, DFABX's average daily return is +0.01%, while the average monthly return is +0.19%. At this rate, an investment would double in approximately 30.4 years.
Historically, 78% of months were positive and 22% were negative. The best month was Nov 2022 with a return of +1.3%, while the worst month was Sep 2022 at -1.2%. The longest winning streak lasted 17 consecutive months, and the longest losing streak was 2 months.
On a daily basis, DFABX closed higher 20% of trading days. The best single day was Nov 10, 2022 with a return of +0.3%, while the worst single day was Jun 13, 2022 at -0.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.44% | 0.19% | -0.05% | 0.20% | 0.20% | 0.00% | 0.98% | ||||||
| 2025 | 0.20% | 0.31% | -0.20% | 0.04% | 0.44% | 0.32% | 0.35% | 0.31% | 0.12% | 0.13% | 0.20% | 0.22% | 2.46% |
| 2024 | 0.11% | 0.23% | 0.04% | 0.24% | 0.23% | 0.36% | 0.55% | 0.34% | 0.23% | 0.07% | 0.34% | 0.15% | 2.90% |
| 2023 | 0.78% | -0.77% | 0.97% | -0.24% | -0.08% | 0.39% | 0.22% | 0.13% | -0.13% | 0.25% | 0.93% | 0.40% | 2.87% |
| 2022 | -0.30% | 1.01% | -0.05% | 0.84% | -1.13% | -1.15% | 0.05% | 1.28% | 0.03% | 0.55% |
Benchmark Metrics
DFA Short-Term Selective State Municipal Bond Portfolio has an annualized alpha of 2.26%, beta of 0.01, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since April 18, 2022.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (7.71%) than losses (3.86%) - typical of diversified or defensive assets.
- Beta of 0.01 may look defensive, but with R2 of 0.02 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.02 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.26%
- Beta
- 0.01
- R²
- 0.02
- Upside Capture
- 7.71%
- Downside Capture
- 3.86%
Expense Ratio
DFABX has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
DFABX ranks 100 for risk / return — in the top 100% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for DFA Short-Term Selective State Municipal Bond Portfolio (DFABX) and compare them to S&P 500 Index.
| DFABX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.48 | ||
| Sortino ratioReturn per unit of downside risk | +9.45 | ||
| Omega ratioGain probability vs. loss probability | 6.47 | 1.41 | +5.06 |
| Calmar ratioReturn relative to maximum drawdown | 24.96 | 2.98 | +21.97 |
| Martin ratioReturn relative to average drawdown | 107.63 | 13.78 | +93.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
DFA Short-Term Selective State Municipal Bond Portfolio provided a 2.63% dividend yield over the last twelve months, with an annual payout of $0.26 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.26 | $0.23 | $0.29 | $0.25 | $0.12 |
Dividend yield | 2.63% | 2.33% | 2.86% | 2.52% | 1.25% |
Monthly Dividends
The table displays the monthly dividend distributions for DFA Short-Term Selective State 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.10 | ||||||
| 2025 | $0.00 | $0.02 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.23 |
| 2024 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.04 | $0.29 |
| 2023 | $0.02 | $0.01 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.25 |
| 2022 | $0.00 | $0.01 | $0.02 | $0.01 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.12 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the DFA Short-Term Selective State 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 Short-Term Selective State Municipal Bond Portfolio was 2.46%, occurring on Oct 25, 2022. Recovery took 111 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -2.46%Oct 2022 | 2mo 23d | 5mo 12d | 8mo 5dAug 2022 - Apr 2023 |
Bear market2022 | -0.79%Jun 2022 | 6d | 22d | 28dJun 2022 - Jul 2022 |
2023 pullback2023 | -0.64%May 2023 | 1mo 2d | 1mo 25d | 2mo 27dApr 2023 - Jul 2023 |
2025 selloff2025 | -0.60%Apr 2025 | 14d | 1mo 10d | 1mo 24dMar 2025 - May 2025 |
Bear market2022 | -0.40%May 2022 | 17d | 19d | 1mo 6dApr 2022 - May 2022 |
Drawdown Indicators
| DFABX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.46% | -56.78% | +54.32% |
Max Drawdown (1Y)Largest decline over 1 year | -0.11% | -9.10% | +8.99% |
Max Drawdown (3Y)Largest decline over 3 years | -0.60% | -18.90% | +18.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.33% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -10.72% | +10.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 1.97% | -1.95% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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