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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in DFA 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 Municipal Bond Portfolio (DFMPX) has returned -0.38% so far this year and 3.24% over the past 12 months. Over the last ten years, DFMPX has returned 1.16% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
DFA Municipal Bond Portfolio
- 1D
- 0.04%
- 1M
- -1.71%
- YTD
- -0.38%
- 6M
- 0.78%
- 1Y
- 3.24%
- 3Y*
- 2.02%
- 5Y*
- 0.62%
- 10Y*
- 1.16%
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 Jan 4, 2016, DFMPX's average daily return is +0.01%, while the average monthly return is +0.11%. At this rate, your investment would double in approximately 52.5 years.
Historically, 58% of months were positive and 42% were negative. The best month was Nov 2023 with a return of +3.1%, while the worst month was Sep 2022 at -2.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, DFMPX closed higher 28% of trading days. The best single day was Mar 25, 2020 with a return of +2.4%, while the worst single day was Mar 20, 2020 at -2.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.70% | 0.66% | -1.71% | -0.38% | |||||||||
| 2025 | 0.40% | 0.72% | -1.09% | -0.23% | 0.37% | 0.56% | 0.19% | 0.56% | 0.97% | 0.49% | 0.29% | 0.38% | 3.66% |
| 2024 | -0.25% | 0.09% | -0.27% | -0.57% | -0.38% | 1.02% | 0.74% | 0.82% | 0.51% | -0.94% | 0.82% | -0.50% | 1.06% |
| 2023 | 1.71% | -1.95% | 1.76% | -0.53% | -0.81% | 0.49% | 0.20% | -0.48% | -1.34% | -0.09% | 3.11% | 1.26% | 3.26% |
| 2022 | -1.96% | -0.34% | -1.87% | -1.45% | 1.51% | -0.43% | 1.69% | -1.75% | -2.35% | -0.02% | 2.47% | 0.18% | -4.37% |
| 2021 | 0.12% | -0.96% | 0.21% | 0.26% | -0.02% | -0.02% | 0.46% | -0.12% | -0.51% | -0.12% | 0.17% | -0.03% | -0.55% |
Benchmark Metrics
DFA Municipal Bond Portfolio has an annualized alpha of 1.08%, beta of 0.02, and R² of 0.02 versus S&P 500 Index. Calculated based on daily prices since January 05, 2016.
- This fund participated in 10.35% of S&P 500 Index downside but only 7.90% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.02 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
- 1.08%
- Beta
- 0.02
- R²
- 0.02
- Upside Capture
- 7.90%
- Downside Capture
- 10.35%
Expense Ratio
DFMPX has an expense ratio of 0.21%, which is considered low.
Return for Risk
Risk / Return Rank
DFMPX ranks 69 for risk / return — better than 69% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for DFA Municipal Bond Portfolio (DFMPX) and compare them to a chosen benchmark (S&P 500 Index).
| DFMPX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.39 | 0.90 | +0.49 |
Sortino ratioReturn per unit of downside risk | 1.83 | 1.39 | +0.44 |
Omega ratioGain probability vs. loss probability | 1.44 | 1.21 | +0.23 |
Calmar ratioReturn relative to maximum drawdown | 1.26 | 1.40 | -0.14 |
Martin ratioReturn relative to average drawdown | 5.20 | 6.61 | -1.41 |
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 DFMPX 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 Municipal Bond Portfolio provided a 2.20% dividend yield over the last twelve months, with an annual payout of $0.22 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.22 | $0.18 | $0.14 | $0.12 | $0.09 | $0.10 | $0.15 | $0.16 | $0.14 | $0.12 | $0.11 |
Dividend yield | 2.20% | 1.79% | 1.45% | 1.17% | 0.89% | 0.99% | 1.38% | 1.50% | 1.39% | 1.16% | 1.12% |
Monthly Dividends
The table displays the monthly dividend distributions for DFA 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 | $0.05 | |||||||||
| 2025 | $0.00 | $0.01 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.18 |
| 2024 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.14 |
| 2023 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.12 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 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 | $0.10 |
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 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 Municipal Bond Portfolio was 7.63%, occurring on Oct 25, 2022. Recovery took 584 trading sessions.
The current DFA Municipal Bond Portfolio drawdown is 1.71%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -7.63% | Feb 16, 2021 | 428 | Oct 25, 2022 | 584 | Feb 25, 2025 | 1012 |
| -7.31% | Mar 10, 2020 | 9 | Mar 20, 2020 | 43 | May 21, 2020 | 52 |
| -3.09% | Aug 25, 2016 | 69 | Dec 1, 2016 | 122 | May 30, 2017 | 191 |
| -2.78% | Mar 6, 2025 | 25 | Apr 9, 2025 | 78 | Aug 1, 2025 | 103 |
| -2.16% | Sep 12, 2017 | 156 | Apr 25, 2018 | 173 | Jan 2, 2019 | 329 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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