DCARX vs. NMTRX
Compare and contrast key facts about DFA California Municipal Real Return Portfolio (DCARX) and Nuveen Municipal Total Return Managed Accounts (NMTRX).
DCARX is managed by Dimensional. It was launched on Oct 31, 2017. NMTRX is managed by BlackRock. It was launched on May 30, 2007.
Performance
DCARX vs. NMTRX - Performance Comparison
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DCARX vs. NMTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DCARX DFA California Municipal Real Return Portfolio | 1.09% | 2.64% | 3.16% | 2.63% | -1.06% | 6.21% | 2.35% | 5.08% | -0.46% | 1.16% |
NMTRX Nuveen Municipal Total Return Managed Accounts | -0.12% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 1.92% |
Returns By Period
In the year-to-date period, DCARX achieves a 1.09% return, which is significantly higher than NMTRX's -0.12% return.
DCARX
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.09%
- 6M
- 1.13%
- 1Y
- 2.59%
- 3Y*
- 2.55%
- 5Y*
- 2.68%
- 10Y*
- —
NMTRX
- 1D
- 0.20%
- 1M
- -1.97%
- YTD
- -0.12%
- 6M
- 1.65%
- 1Y
- 3.78%
- 3Y*
- 3.22%
- 5Y*
- 0.38%
- 10Y*
- 2.27%
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DCARX vs. NMTRX - Expense Ratio Comparison
DCARX has a 0.26% expense ratio, which is higher than NMTRX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
DCARX vs. NMTRX — Risk / Return Rank
DCARX
NMTRX
DCARX vs. NMTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA California Municipal Real Return Portfolio (DCARX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). 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.
| DCARX | NMTRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.06 | 0.84 | +1.22 |
Sortino ratioReturn per unit of downside risk | 2.97 | 1.16 | +1.81 |
Omega ratioGain probability vs. loss probability | 1.57 | 1.23 | +0.34 |
Calmar ratioReturn relative to maximum drawdown | 2.99 | 0.99 | +2.01 |
Martin ratioReturn relative to average drawdown | 12.16 | 2.89 | +9.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DCARX | NMTRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.06 | 0.84 | +1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.20 | 0.10 | +1.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.97 | -0.04 |
Correlation
The correlation between DCARX and NMTRX is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
DCARX vs. NMTRX - Dividend Comparison
DCARX's dividend yield for the trailing twelve months is around 3.41%, less than NMTRX's 4.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DCARX DFA California Municipal Real Return Portfolio | 3.41% | 3.11% | 3.52% | 1.84% | 0.90% | 0.78% | 1.12% | 1.43% | 1.27% | 0.09% | 0.00% | 0.00% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.19% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Drawdowns
DCARX vs. NMTRX - Drawdown Comparison
The maximum DCARX drawdown since its inception was -12.27%, smaller than the maximum NMTRX drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for DCARX and NMTRX.
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Drawdown Indicators
| DCARX | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.27% | -16.36% | +4.09% |
Max Drawdown (1Y)Largest decline over 1 year | -0.93% | -4.75% | +3.82% |
Max Drawdown (5Y)Largest decline over 5 years | -4.79% | -16.36% | +11.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.36% | — |
Current DrawdownCurrent decline from peak | -0.24% | -2.25% | +2.01% |
Average DrawdownAverage peak-to-trough decline | -0.76% | -2.93% | +2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 1.62% | -1.39% |
Volatility
DCARX vs. NMTRX - Volatility Comparison
The current volatility for DFA California Municipal Real Return Portfolio (DCARX) is 0.51%, while Nuveen Municipal Total Return Managed Accounts (NMTRX) has a volatility of 1.07%. This indicates that DCARX experiences smaller price fluctuations and is considered to be less risky than NMTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCARX | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 1.07% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 0.71% | 1.82% | -1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 4.93% | -3.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.25% | 3.97% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.93% | 4.38% | -1.45% |