DFA Selective State Municipal Bond Portfolio (DSSMX)

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The chart shows the growth of an initial investment of $10,000 in DFA 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.

DFA Selective State Municipal Bond Portfolio (DSSMX) has returned 0.07% so far this year and 3.72% over the past 12 months.

Based on dividend-adjusted daily data since Oct 19, 2020, DSSMX's average daily return is 0.00%, while the average monthly return is +0.05%. At this rate, your investment would double in approximately 115.6 years.

Historically, 61% of months were positive and 39% were negative. The best month was Nov 2022 with a return of +3.6%, while the worst month was Sep 2022 at -3.1%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, DSSMX closed higher 30% of trading days. The best single day was Apr 10, 2025 with a return of +1.3%, while the worst single day was Jun 13, 2022 at -1.2%.

DFA Selective State Municipal Bond Portfolio has an annualized alpha of 0.50%, beta of 0.01, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since October 20, 2020.

• This fund participated in 23.24% of S&P 500 Index downside but only 11.18% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.01 may look defensive, but with R² of 0.00 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 0.00 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.

DSSMX has an expense ratio of 0.23%, which is considered low.

DSSMX ranks 71 for risk / return — better than 71% 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.

The table below present risk-adjusted performance metrics for DFA Selective State Municipal Bond Portfolio (DSSMX) and compare them to a chosen benchmark (S&P 500 Index).

DFA Selective State Municipal Bond Portfolio provided a 2.80% dividend yield over the last twelve months, with an annual payout of $0.26 per share. The fund has been increasing its distributions for 5 consecutive years.

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.

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.

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 10.89%, occurring on Oct 25, 2022. Recovery took 723 trading sessions.

The current DFA Selective State Municipal Bond Portfolio drawdown is 1.40%.

The chart below shows the rolling one-month volatility.