DFA California Short Term Municipal Bond Portfolio (DFCMX)
As a 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 personal income tax and the California state personal income taxes. The advisor does not currently intend to invest its assets in municipal securities whose interest is subject to the federal alternative minimum tax.
Fund Info
US2332033305
Apr 1, 2007
$0
Expense Ratio
DFCMX has an expense ratio of 0.19%, which is considered low.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
DFA California Short Term Municipal Bond Portfolio (DFCMX) returned 0.95% year-to-date (YTD) and 2.96% over the past 12 months. Over the past 10 years, DFCMX returned 1.12% annually, underperforming the S&P 500 benchmark at 10.77%.
DFCMX
0.95%
0.44%
1.31%
2.96%
1.17%
1.12%
^GSPC (Benchmark)
0.08%
9.75%
-1.63%
12.74%
15.66%
10.77%
Monthly Returns
The table below presents the monthly returns of DFCMX, 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 | 0.34% | 0.30% | 0.05% | 0.15% | 0.10% | 0.95% | |||||||
| 2024 | 0.23% | 0.18% | 0.11% | 0.13% | 0.13% | 0.49% | 0.45% | 0.39% | 0.30% | -0.05% | 0.41% | 0.05% | 2.85% |
| 2023 | 0.72% | -0.51% | 0.75% | -0.19% | 0.04% | 0.33% | 0.16% | 0.19% | -0.14% | 0.20% | 0.78% | 0.36% | 2.72% |
| 2022 | -0.48% | -0.09% | -0.64% | -0.38% | 0.75% | -0.04% | 0.56% | -0.81% | -0.81% | 0.19% | 1.08% | -0.09% | -0.77% |
| 2021 | 0.13% | -0.04% | -0.03% | 0.03% | -0.06% | 0.03% | 0.03% | -0.08% | -0.09% | 0.02% | 0.01% | -0.08% | -0.13% |
| 2020 | 0.23% | 0.08% | -0.46% | 0.29% | 0.49% | -0.01% | 0.14% | -0.09% | 0.04% | -0.16% | 0.16% | -0.05% | 0.67% |
| 2019 | 0.23% | 0.10% | 0.20% | 0.03% | 0.30% | 0.09% | 0.29% | 0.08% | -0.13% | 0.11% | 0.17% | 0.08% | 1.57% |
| 2018 | 0.20% | 0.06% | -0.09% | -0.12% | 0.38% | 0.27% | 0.10% | 0.09% | -0.20% | 0.01% | 0.26% | 0.29% | 1.26% |
| 2017 | 0.47% | 0.35% | -0.09% | 0.35% | 0.37% | -0.21% | 0.36% | 0.19% | -0.24% | -0.01% | -0.52% | 0.06% | 1.07% |
| 2016 | 0.70% | 0.24% | -0.29% | 0.25% | -0.21% | 0.45% | 0.27% | -0.13% | -0.24% | -0.12% | -1.00% | 0.17% | 0.09% |
| 2015 | 0.78% | -0.37% | -0.01% | -0.14% | -0.23% | 0.25% | 0.26% | 0.06% | 0.36% | 0.17% | -0.09% | -0.03% | 1.02% |
| 2014 | 0.29% | 0.22% | -0.40% | 0.26% | 0.27% | -0.03% | 0.07% | 0.36% | -0.14% | 0.16% | -0.04% | -0.23% | 0.81% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 98, DFCMX is among the top 2% of mutual funds on our website when it comes to balancing risk and reward. Below is 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 Short Term Municipal Bond Portfolio (DFCMX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
DFA California Short Term Municipal Bond Portfolio provided a 2.72% dividend yield over the last twelve months, with an annual payout of $0.28 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 | $0.28 | $0.27 | $0.19 | $0.07 | $0.04 | $0.09 | $0.12 | $0.11 | $0.09 | $0.09 | $0.08 | $0.08 |
Dividend yield | 2.72% | 2.60% | 1.90% | 0.71% | 0.36% | 0.87% | 1.17% | 1.04% | 0.87% | 0.86% | 0.82% | 0.80% |
Monthly Dividends
The table displays the monthly dividend distributions for DFA California Short 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 | $0.02 | $0.02 | $0.03 | $0.03 | $0.00 | $0.09 | |||||||
| 2024 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.27 |
| 2023 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.19 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.07 |
| 2021 | $0.00 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.09 |
| 2019 | $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 |
| 2018 | $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 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2016 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2015 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2014 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
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 California Short 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 Short Term Municipal Bond Portfolio was 2.20%, occurring on Sep 29, 2022. Recovery took 129 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -2.2% | Jul 28, 2021 | 297 | Sep 29, 2022 | 129 | Apr 5, 2023 | 426 |
| -2.14% | Sep 17, 2008 | 23 | Oct 17, 2008 | 21 | Nov 17, 2008 | 44 |
| -1.93% | Mar 10, 2020 | 9 | Mar 20, 2020 | 39 | May 15, 2020 | 48 |
| -1.76% | Aug 25, 2016 | 69 | Dec 1, 2016 | 123 | May 31, 2017 | 192 |
| -1.38% | Aug 31, 2010 | 75 | Dec 15, 2010 | 102 | May 12, 2011 | 177 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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