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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in DFA Short-Term Selective State 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.
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Returns By Period
DFA Short-Term Selective State Municipal Bond Portfolio (DFABX) has returned 0.58% so far this year and 2.73% over the past 12 months.
DFA Short-Term Selective State Municipal Bond Portfolio
- 1D
- 0.05%
- 1M
- -0.05%
- YTD
- 0.58%
- 6M
- 1.12%
- 1Y
- 2.73%
- 3Y*
- 2.60%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
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, your investment would double in approximately 30.4 years.
Historically, 79% of months were positive and 21% 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% | 0.58% | |||||||||
| 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 2.30%, 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 (8.62%) than losses (3.79%) — 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
- 2.30%
- Beta
- 0.01
- R²
- 0.02
- Upside Capture
- 8.62%
- Downside Capture
- 3.79%
Expense Ratio
DFABX has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
DFABX ranks 99 for risk / return — in the top 99% 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 a chosen benchmark (S&P 500 Index).
| DFABX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.90 | 0.90 | +3.00 |
Sortino ratioReturn per unit of downside risk | 7.13 | 1.39 | +5.75 |
Omega ratioGain probability vs. loss probability | 3.50 | 1.21 | +2.29 |
Calmar ratioReturn relative to maximum drawdown | 4.84 | 1.40 | +3.44 |
Martin ratioReturn relative to average drawdown | 26.76 | 6.61 | +20.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore DFABX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
DFA Short-Term Selective State Municipal Bond Portfolio provided a 2.70% dividend yield over the last twelve months, with an annual payout of $0.27 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.27 | $0.23 | $0.29 | $0.25 | $0.12 |
Dividend yield | 2.70% | 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 | $0.06 | |||||||||
| 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 Sep 29, 2022. Recovery took 129 trading sessions.
The current DFA Short-Term Selective State Municipal Bond Portfolio drawdown is 0.06%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -2.46% | Aug 3, 2022 | 41 | Sep 29, 2022 | 129 | Apr 5, 2023 | 170 |
| -0.79% | Jun 10, 2022 | 5 | Jun 16, 2022 | 14 | Jul 8, 2022 | 19 |
| -0.64% | Apr 17, 2023 | 25 | May 19, 2023 | 36 | Jul 13, 2023 | 61 |
| -0.6% | Mar 26, 2025 | 11 | Apr 9, 2025 | 27 | May 19, 2025 | 38 |
| -0.4% | Apr 18, 2022 | 14 | May 5, 2022 | 13 | May 24, 2022 | 27 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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