BIDAX vs. DMREX
BIDAX (iShares Municipal Bond Index Fund) and DMREX (DFA Municipal Real Return Portfolio) are both Municipal Bonds funds. Over the past 5 years, BIDAX returned 0.69%/yr vs 2.53%/yr for DMREX. At a 0.23 correlation, their price movements are largely independent. BIDAX charges 0.50%/yr vs 0.24%/yr for DMREX.
Performance
BIDAX vs. DMREX - Performance Comparison
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Returns By Period
In the year-to-date period, BIDAX achieves a 1.41% return, which is significantly lower than DMREX's 2.05% return.
BIDAX
- 1D
- -0.09%
- 1M
- 1.55%
- YTD
- 1.41%
- 6M
- 1.76%
- 1Y
- 6.37%
- 3Y*
- 3.56%
- 5Y*
- 0.69%
- 10Y*
- —
DMREX
- 1D
- 0.00%
- 1M
- 0.10%
- YTD
- 2.05%
- 6M
- 2.14%
- 1Y
- 3.21%
- 3Y*
- 3.21%
- 5Y*
- 2.53%
- 10Y*
- 2.79%
BIDAX vs. DMREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BIDAX iShares Municipal Bond Index Fund | 1.41% | 4.52% | 1.44% | 5.74% | -9.41% | 1.38% | 4.70% | 7.56% | 1.44% |
DMREX DFA Municipal Real Return Portfolio | 2.05% | 2.77% | 3.10% | 2.56% | -1.42% | 6.75% | 4.11% | 6.64% | 0.33% |
Correlation
The correlation between BIDAX and DMREX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2018 | 0.23 |
The correlation between BIDAX and DMREX shifts across timeframes, from 0.04 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BIDAX vs. DMREX — Risk / Return Rank
BIDAX
DMREX
BIDAX vs. DMREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Municipal Bond Index Fund (BIDAX) and DFA Municipal Real Return Portfolio (DMREX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BIDAX | DMREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.95 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 6.34 | -4.14 |
| Martin ratioReturn relative to average drawdown | 7.33 | 14.56 | -7.24 |
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Drawdowns
BIDAX vs. DMREX - Drawdown Comparison
The maximum BIDAX drawdown since its inception was -14.39%, which is greater than DMREX's maximum drawdown of -13.22%. Use the drawdown chart below to compare losses from any high point for BIDAX and DMREX.
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Drawdown Indicators
| BIDAX | DMREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.39% | -13.22% | -1.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -0.51% | -2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -2.48% | -3.59% |
Max Drawdown (5Y)Largest decline over 5 years | -14.39% | -5.33% | -9.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.22% | — |
Current DrawdownCurrent decline from peak | -0.65% | -0.28% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -0.87% | -2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.22% | +0.67% |
Volatility
BIDAX vs. DMREX - Volatility Comparison
iShares Municipal Bond Index Fund (BIDAX) has a higher volatility of 0.75% compared to DFA Municipal Real Return Portfolio (DMREX) at 0.27%. This indicates that BIDAX's price experiences larger fluctuations and is considered to be riskier than DMREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIDAX | DMREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 0.27% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.06% | 0.77% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.66% | 0.99% | +1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 2.45% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 3.14% | +1.28% |
BIDAX vs. DMREX - Expense Ratio Comparison
BIDAX has a 0.50% expense ratio, which is higher than DMREX's 0.24% expense ratio.
Dividends
BIDAX vs. DMREX - Dividend Comparison
BIDAX's dividend yield for the trailing twelve months is around 3.11%, less than DMREX's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIDAX iShares Municipal Bond Index Fund | 3.11% | 4.09% | 3.25% | 2.16% | 1.92% | 2.36% | 2.35% | 3.64% | 0.48% | 0.00% | 0.00% | 0.00% |
DMREX DFA Municipal Real Return Portfolio | 3.25% | 2.95% | 3.55% | 1.96% | 1.16% | 0.98% | 1.44% | 2.26% | 1.54% | 1.32% | 1.15% | 1.09% |
Frequently Asked Questions
BIDAX and DMREX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIDAX has higher volatility (0.75%) compared to DMREX (0.27%). In terms of maximum drawdown, BIDAX dropped -14.39% vs DMREX's -13.22%.
DMREX currently has the higher Sharpe Ratio (3.26 vs 2.45), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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