PortfoliosLab logo
DFNM vs. MUB
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between DFNM and MUB is 0.13, 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.


-0.50.00.51.0
Correlation: 0.1

Performance

DFNM vs. MUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional National Municipal Bond ETF (DFNM) and iShares National AMT-Free Muni Bond ETF (MUB). The values are adjusted to include any dividend payments, if applicable.

-4.00%-3.00%-2.00%-1.00%0.00%1.00%2.00%3.00%December2025FebruaryMarchAprilMay
1.12%
-1.45%
DFNM
MUB

Key characteristics

Sharpe Ratio

DFNM:

0.67

MUB:

0.28

Sortino Ratio

DFNM:

0.88

MUB:

0.40

Omega Ratio

DFNM:

1.14

MUB:

1.06

Calmar Ratio

DFNM:

0.69

MUB:

0.28

Martin Ratio

DFNM:

2.34

MUB:

0.92

Ulcer Index

DFNM:

0.82%

MUB:

1.46%

Daily Std Dev

DFNM:

2.86%

MUB:

4.74%

Max Drawdown

DFNM:

-6.98%

MUB:

-13.68%

Current Drawdown

DFNM:

-1.60%

MUB:

-2.71%

Returns By Period

In the year-to-date period, DFNM achieves a -0.34% return, which is significantly higher than MUB's -1.12% return.


DFNM

YTD

-0.34%

1M

-0.67%

6M

0.04%

1Y

1.80%

5Y*

N/A

10Y*

N/A

MUB

YTD

-1.12%

1M

-0.71%

6M

-0.82%

1Y

1.07%

5Y*

1.05%

10Y*

1.95%

*Annualized

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


DFNM vs. MUB - Expense Ratio Comparison

DFNM has a 0.17% 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%.


Expense ratio chart for DFNM: current value is 0.17%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
DFNM: 0.17%
Expense ratio chart for MUB: current value is 0.07%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
MUB: 0.07%

Risk-Adjusted Performance

DFNM vs. MUB — Risk-Adjusted Performance Rank

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

DFNM
The Risk-Adjusted Performance Rank of DFNM is 6060
Overall Rank
The Sharpe Ratio Rank of DFNM is 6161
Sharpe Ratio Rank
The Sortino Ratio Rank of DFNM is 5454
Sortino Ratio Rank
The Omega Ratio Rank of DFNM is 5858
Omega Ratio Rank
The Calmar Ratio Rank of DFNM is 6767
Calmar Ratio Rank
The Martin Ratio Rank of DFNM is 6060
Martin Ratio Rank

MUB
The Risk-Adjusted Performance Rank of MUB is 3737
Overall Rank
The Sharpe Ratio Rank of MUB is 3838
Sharpe Ratio Rank
The Sortino Ratio Rank of MUB is 3232
Sortino Ratio Rank
The Omega Ratio Rank of MUB is 3232
Omega Ratio Rank
The Calmar Ratio Rank of MUB is 4242
Calmar Ratio Rank
The Martin Ratio Rank of MUB is 3939
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

DFNM vs. MUB - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional National Municipal Bond ETF (DFNM) 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.


The chart of Sharpe ratio for DFNM, currently valued at 0.67, compared to the broader market-1.000.001.002.003.004.00
DFNM: 0.67
MUB: 0.28
The chart of Sortino ratio for DFNM, currently valued at 0.88, compared to the broader market-2.000.002.004.006.008.00
DFNM: 0.88
MUB: 0.40
The chart of Omega ratio for DFNM, currently valued at 1.14, compared to the broader market0.501.001.502.002.50
DFNM: 1.14
MUB: 1.06
The chart of Calmar ratio for DFNM, currently valued at 0.69, compared to the broader market0.002.004.006.008.0010.0012.00
DFNM: 0.69
MUB: 0.28
The chart of Martin ratio for DFNM, currently valued at 2.34, compared to the broader market0.0020.0040.0060.00
DFNM: 2.34
MUB: 0.92

The current DFNM Sharpe Ratio is 0.67, which is higher than the MUB Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of DFNM and MUB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-0.500.000.501.001.502.002.503.00December2025FebruaryMarchAprilMay
0.67
0.28
DFNM
MUB

Dividends

DFNM vs. MUB - Dividend Comparison

DFNM's dividend yield for the trailing twelve months is around 2.90%, less than MUB's 3.14% yield.


TTM20242023202220212020201920182017201620152014
DFNM
Dimensional National Municipal Bond ETF
2.90%2.74%2.40%1.16%0.05%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MUB
iShares National AMT-Free Muni Bond ETF
3.14%3.01%2.65%2.11%1.81%2.11%2.42%2.46%2.26%2.21%2.51%2.73%

Drawdowns

DFNM vs. MUB - Drawdown Comparison

The maximum DFNM drawdown since its inception was -6.98%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for DFNM and MUB. For additional features, visit the drawdowns tool.


-5.00%-4.00%-3.00%-2.00%-1.00%0.00%December2025FebruaryMarchAprilMay
-1.60%
-2.71%
DFNM
MUB

Volatility

DFNM vs. MUB - Volatility Comparison

The current volatility for Dimensional National Municipal Bond ETF (DFNM) is 1.94%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 3.02%. This indicates that DFNM 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.


0.50%1.00%1.50%2.00%2.50%3.00%December2025FebruaryMarchAprilMay
1.94%
3.02%
DFNM
MUB