DFCFX vs. MUB
Compare and contrast key facts about DFA Two-Year Fixed Income Portfolio (DFCFX) and iShares National AMT-Free Muni Bond ETF (MUB).
DFCFX is managed by Dimensional. It was launched on Jun 6, 1996. MUB is a passively managed fund by iShares that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Sep 7, 2007.
Performance
DFCFX vs. MUB - Performance Comparison
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DFCFX vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFCFX DFA Two-Year Fixed Income Portfolio | 0.89% | 2.28% | 5.33% | 4.92% | -3.28% | 8.60% | 0.57% | 2.65% | 1.78% | 0.92% |
MUB iShares National AMT-Free Muni Bond ETF | -0.37% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
Returns By Period
In the year-to-date period, DFCFX achieves a 0.89% return, which is significantly higher than MUB's -0.37% return. Over the past 10 years, DFCFX has outperformed MUB with an annualized return of 2.44%, while MUB has yielded a comparatively lower 1.96% annualized return.
DFCFX
- 1D
- 0.06%
- 1M
- 0.26%
- YTD
- 0.89%
- 6M
- 1.87%
- 1Y
- 3.08%
- 3Y*
- 4.06%
- 5Y*
- 3.68%
- 10Y*
- 2.44%
MUB
- 1D
- 0.19%
- 1M
- -2.28%
- YTD
- -0.37%
- 6M
- 1.28%
- 1Y
- 3.94%
- 3Y*
- 2.53%
- 5Y*
- 0.79%
- 10Y*
- 1.96%
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DFCFX vs. MUB - Expense Ratio Comparison
DFCFX has a 0.21% expense ratio, which is higher than MUB's 0.07% 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
DFCFX vs. MUB — Risk / Return Rank
DFCFX
MUB
DFCFX vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Two-Year Fixed Income Portfolio (DFCFX) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| DFCFX | MUB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.59 | 0.96 | +1.63 |
Sortino ratioReturn per unit of downside risk | 2.98 | 1.25 | +1.73 |
Omega ratioGain probability vs. loss probability | 3.80 | 1.21 | +2.59 |
Calmar ratioReturn relative to maximum drawdown | 2.07 | 1.27 | +0.80 |
Martin ratioReturn relative to average drawdown | 5.56 | 4.07 | +1.49 |
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
| DFCFX | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.59 | 0.96 | +1.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.20 | +0.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.40 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.34 | 0.57 | +0.77 |
Correlation
The correlation between DFCFX and MUB is 0.21, 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
DFCFX vs. MUB - Dividend Comparison
DFCFX's dividend yield for the trailing twelve months is around 2.94%, less than MUB's 3.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFCFX DFA Two-Year Fixed Income Portfolio | 2.94% | 2.16% | 4.90% | 3.43% | 1.32% | 8.29% | 0.67% | 2.22% | 1.87% | 1.22% | 0.79% | 0.53% |
MUB iShares National AMT-Free Muni Bond ETF | 3.19% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Drawdowns
DFCFX vs. MUB - Drawdown Comparison
The maximum DFCFX drawdown since its inception was -4.27%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for DFCFX and MUB.
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Drawdown Indicators
| DFCFX | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.27% | -13.68% | +9.41% |
Max Drawdown (1Y)Largest decline over 1 year | -1.03% | -3.30% | +2.27% |
Max Drawdown (5Y)Largest decline over 5 years | -4.27% | -11.88% | +7.61% |
Max Drawdown (10Y)Largest decline over 10 years | -4.27% | -13.68% | +9.41% |
Current DrawdownCurrent decline from peak | 0.00% | -2.28% | +2.28% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -2.24% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 1.03% | -0.65% |
Volatility
DFCFX vs. MUB - Volatility Comparison
The current volatility for DFA Two-Year Fixed Income Portfolio (DFCFX) is 0.15%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 1.53%. This indicates that DFCFX experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFCFX | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 1.53% | -1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 0.43% | 2.03% | -1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.21% | 4.14% | -2.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.39% | 4.04% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.13% | 4.91% | -1.78% |