DFA Selective State Municipal Bond Portfolio (DSSMX)
The fund aims to invest in investment grade municipal securities to generate tax-exempt income, with a focus on securities rated in the top three credit-rating categories.
Fund Info
Sep 29, 2020
$0
Expense Ratio
DSSMX has an expense ratio of 0.23%, which is considered low.
Share Price Chart
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Performance
Performance Chart
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Returns By Period
DFA Selective State Municipal Bond Portfolio (DSSMX) returned -0.41% year-to-date (YTD) and 2.33% over the past 12 months.
DSSMX
-0.41%
-0.11%
-0.95%
2.33%
1.66%
N/A
N/A
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of DSSMX, 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 | 0.45% | 0.82% | -1.13% | -0.43% | -0.11% | -0.41% | |||||||
| 2024 | 0.02% | 0.04% | 0.00% | -0.47% | -0.15% | 0.95% | 0.77% | 0.76% | 0.51% | -0.63% | 0.82% | -0.55% | 2.07% |
| 2023 | 1.97% | -1.90% | 1.80% | -0.41% | -0.71% | 0.68% | 0.14% | -0.49% | -1.49% | -0.27% | 3.24% | 1.28% | 3.76% |
| 2022 | -2.44% | -0.47% | -2.47% | -2.36% | 1.37% | -0.87% | 2.13% | -2.03% | -3.03% | -0.33% | 3.58% | 0.31% | -6.64% |
| 2021 | 0.24% | -1.25% | 0.27% | 0.55% | 0.15% | 0.04% | 0.65% | -0.15% | -0.74% | -0.15% | 0.45% | 0.06% | 0.10% |
| 2020 | 0.00% | -0.10% | 0.83% | 0.25% | 0.98% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of DSSMX is 53, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for DFA Selective State Municipal Bond Portfolio (DSSMX) 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 Selective State Municipal Bond Portfolio provided a 2.34% dividend yield over the last twelve months, with an annual payout of $0.22 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Dividend | $0.22 | $0.22 | $0.17 | $0.09 | $0.06 | $0.01 |
Dividend yield | 2.34% | 2.38% | 1.74% | 1.00% | 0.60% | 0.08% |
Monthly Dividends
The table displays the monthly dividend distributions for DFA 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.01 | $0.02 | $0.02 | $0.02 | $0.00 | $0.07 | |||||||
| 2024 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.22 |
| 2023 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.17 |
| 2022 | $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 |
| 2021 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.06 |
| 2020 | $0.00 | $0.00 | $0.01 | $0.01 |
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 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 Selective State Municipal Bond Portfolio was 10.81%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current DFA Selective State Municipal Bond Portfolio drawdown is 2.14%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -10.81% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -1.54% | Feb 16, 2021 | 8 | Feb 25, 2021 | 92 | Jul 8, 2021 | 100 |
| -0.3% | Jan 6, 2021 | 4 | Jan 11, 2021 | 11 | Jan 27, 2021 | 15 |
| -0.2% | Nov 9, 2020 | 2 | Nov 10, 2020 | 3 | Nov 13, 2020 | 5 |
| -0.1% | Oct 16, 2020 | 1 | Oct 16, 2020 | 13 | Nov 4, 2020 | 14 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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