DFCA vs. AMUN
DFCA (Dimensional California Municipal Bond ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.22 correlation, their price movements are largely independent. DFCA charges 0.19%/yr vs 0.25%/yr for AMUN.
Performance
DFCA vs. AMUN - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with DFCA having a 1.07% return and AMUN slightly higher at 1.11%.
DFCA
- 1D
- -0.03%
- 1M
- 0.54%
- YTD
- 1.07%
- 6M
- 1.46%
- 1Y
- 5.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AMUN
- 1D
- -0.02%
- 1M
- 0.32%
- YTD
- 1.11%
- 6M
- 1.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFCA vs. AMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DFCA Dimensional California Municipal Bond ETF | 1.07% | 0.56% |
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.11% | 0.14% |
Correlation
The correlation between DFCA and AMUN is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025 | 0.22 |
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Return for Risk
DFCA vs. AMUN — Risk / Return Rank
DFCA
AMUN
DFCA vs. AMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional California Municipal Bond ETF (DFCA) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.
| DFCA | AMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.61 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | — | — |
| Martin ratioReturn relative to average drawdown | 9.29 | — | — |
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
| DFCA | AMUN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 2.05 | -0.92 |
Drawdowns
DFCA vs. AMUN - Drawdown Comparison
The maximum DFCA drawdown since its inception was -3.28%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for DFCA and AMUN.
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Drawdown Indicators
| DFCA | AMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -0.61% | -2.67% |
Max Drawdown (1Y)Largest decline over 1 year | -1.77% | — | — |
Current DrawdownCurrent decline from peak | -0.52% | -0.02% | -0.50% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -0.09% | -0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | — | — |
Volatility
DFCA vs. AMUN - Volatility Comparison
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Volatility by Period
| DFCA | AMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.30% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.77% | 1.01% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.48% | 1.01% | +1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.48% | 1.01% | +1.47% |
DFCA vs. AMUN - Expense Ratio Comparison
DFCA has a 0.19% expense ratio, which is lower than AMUN's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DFCA vs. AMUN - Dividend Comparison
DFCA's dividend yield for the trailing twelve months is around 2.69%, more than AMUN's 1.89% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.89% | 0.66% | 0.00% | 0.00% |
DFCA Dimensional California Municipal Bond ETF | 2.69% | 2.86% | 2.86% | 1.24% |
Frequently Asked Questions
DFCA and AMUN have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DFCA is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DFCA is cheaper with a 0.19% expense ratio, compared with 0.25% for AMUN.
DFCA has the higher dividend yield at 2.69%, compared with 1.89% for AMUN.
They also come from different issuers: Dimensional and abrdn. Their fees differ too: 0.19% for DFCA and 0.25% for AMUN.
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