COII vs. DFNM

Last updated Jun 24, 2026

COII (REX COIN Growth & Income ETF) and DFNM (Dimensional National Municipal Bond ETF) are both exchange-traded funds - COII is a Derivative Income fund actively managed by REX Shares, while DFNM is a Municipal Bonds fund actively managed by Dimensional. Both are actively managed. Over the past year, COII returned -61.20% vs 4.87% for DFNM. At a correlation of -0.09, they often move in opposite directions. COII charges 0.99%/yr vs 0.17%/yr for DFNM.

Performance

COII vs. DFNM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX COIN Growth & Income ETF (COII) and Dimensional National Municipal Bond ETF (DFNM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COII achieves a -40.76% return, which is significantly lower than DFNM's 1.14% return.

COII

• 1D: 0.00%
• 1M: -17.01%
• YTD: -40.76%
• 6M: -44.80%
• 1Y: -61.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFNM

• 1D: -0.29%
• 1M: 0.63%
• YTD: 1.14%
• 6M: 1.27%
• 1Y: 4.87%
• 3Y*: 3.10%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

COII vs. DFNM - Yearly Performance Comparison

	2026 (YTD)	2025
COII REX COIN Growth & Income ETF	-40.76%	-26.88%
DFNM Dimensional National Municipal Bond ETF	1.14%	3.94%

Correlation

The correlation between COII and DFNM is -0.08, 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	-0.08
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	-0.09

Return for Risk

COII vs. DFNM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COII

COII Risk / Return Rank: 2
COII Sharpe Ratio Rank: 2
COII Sortino Ratio Rank: 2
COII Omega Ratio Rank: 1
COII Calmar Ratio Rank: 2
COII Martin Ratio Rank: 2

DFNM

DFNM Risk / Return Rank: 78
DFNM Sharpe Ratio Rank: 90
DFNM Sortino Ratio Rank: 91
DFNM Omega Ratio Rank: 94
DFNM Calmar Ratio Rank: 58
DFNM Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COII vs. DFNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX COIN Growth & Income ETF (COII) and Dimensional National Municipal Bond ETF (DFNM). 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.

	COII	DFNM	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	2.80	-3.71
Sortino ratio: Return per unit of downside risk	-1.41	4.00	-5.40
Omega ratio: Gain probability vs. loss probability	0.83	1.63	-0.81
Calmar ratio: Return relative to maximum drawdown	-0.85	2.66	-3.51
Martin ratio: Return relative to average drawdown	-1.28	9.53	-10.81

COII vs. DFNM - Sharpe Ratio Comparison

The current COII Sharpe Ratio is -0.91, which is lower than the DFNM Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of COII and DFNM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

COII vs. DFNM - Drawdown Comparison

The maximum COII drawdown since its inception was -72.22%, which is greater than DFNM's maximum drawdown of -6.99%. Use the drawdown chart below to compare losses from any high point for COII and DFNM.

Drawdown Indicators

	COII	DFNM	Difference
Max Drawdown Largest peak-to-trough decline	-72.22%	-6.99%	-65.23%
Max Drawdown (1Y) Largest decline over 1 year	-72.22%	-1.84%	-70.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-2.82%	—
Current Drawdown Current decline from peak	-70.51%	-0.50%	-70.01%
Average Drawdown Average peak-to-trough decline	-40.53%	-1.94%	-38.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.75%	0.51%	+47.24%

Volatility

COII vs. DFNM - Volatility Comparison

REX COIN Growth & Income ETF (COII) has a higher volatility of 17.23% compared to Dimensional National Municipal Bond ETF (DFNM) at 0.51%. This indicates that COII's price experiences larger fluctuations and is considered to be riskier than DFNM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COII	DFNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.23%	0.51%	+16.72%
Volatility (6M) Calculated over the trailing 6-month period	51.90%	1.33%	+50.57%
Volatility (1Y) Calculated over the trailing 1-year period	67.44%	1.74%	+65.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.56%	2.53%	+65.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.56%	2.53%	+65.03%

COII vs. DFNM - Expense Ratio Comparison

COII has a 0.99% expense ratio, which is higher than DFNM's 0.17% expense ratio.

Dividends

COII vs. DFNM - Dividend Comparison

COII's dividend yield for the trailing twelve months is around 94.11%, more than DFNM's 2.90% yield.

Position	TTM	2025	2024	2023	2022	2021
COII REX COIN Growth & Income ETF	94.11%	41.52%	0.00%	0.00%	0.00%	0.00%
DFNM Dimensional National Municipal Bond ETF	2.90%	2.94%	2.74%	2.39%	1.16%	0.05%

Frequently Asked Questions

Can I hold both COII and DFNM in my portfolio?

COII and DFNM have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COII or DFNM?

COII has higher volatility (17.23%) compared to DFNM (0.51%). In terms of maximum drawdown, COII dropped -72.22% vs DFNM's -6.99%.

Which ETF is better, COII or DFNM?

On 1-year performance, DFNM leads with 4.87% vs -61.20% for COII. On fees, DFNM is cheaper at 0.17% per year. On volatility, DFNM has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COII or DFNM?

Over the 1-year period, DFNM has performed better with a 4.87% return vs -61.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COII or DFNM?

DFNM is cheaper with a 0.17% expense ratio, compared with 0.99% for COII.

Which ETF pays a higher dividend yield, COII or DFNM?

COII has the higher dividend yield at 94.11%, compared with 2.90% for DFNM.

What is the main difference between COII and DFNM?

COII is categorized as Derivative Income, while DFNM is Municipal Bonds. They also come from different issuers: REX Shares and Dimensional. Their fees differ too: 0.99% for COII and 0.17% for DFNM.

Which has better risk-adjusted returns?

DFNM currently has the higher Sharpe Ratio (2.80 vs -0.91), 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.