DFNM vs. WTIU
DFNM (Dimensional National Municipal Bond ETF) and WTIU (MicroSectors Energy 3X Leveraged ETN) are both exchange-traded funds - DFNM is a Municipal Bonds fund actively managed by Dimensional, while WTIU is a Leveraged Equities fund tracking the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). DFNM is actively managed, while WTIU is passively managed. Over the past 3 years, DFNM returned 2.90%/yr vs 0.02%/yr for WTIU. Their -0.13 correlation means they have often moved in opposite directions in the past. DFNM charges 0.17%/yr vs 0.95%/yr for WTIU.
Performance
DFNM vs. WTIU - Performance Comparison
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Returns By Period
In the year-to-date period, DFNM achieves a 0.45% return, which is significantly lower than WTIU's 104.80% return.
DFNM
- 1D
- -0.04%
- 1M
- -1.20%
- 6M
- -0.36%
- YTD
- 0.45%
- 1Y
- 3.46%
- 3Y*
- 2.90%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.20%
WTIU
- 1D
- 3.15%
- 1M
- 45.95%
- 6M
- 51.31%
- YTD
- 104.80%
- 1Y
- 114.64%
- 3Y*
- 0.02%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.08M | $8.87M | $8.49M | |
| $1.32M | $870.89K | $849.27K |
DFNM vs. WTIU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFNM Dimensional National Municipal Bond ETF | 0.45% | 3.87% | 1.19% | 2.86% |
WTIU MicroSectors Energy 3X Leveraged ETN | 104.80% | -17.13% | -29.63% | -28.45% |
Correlation
The correlation between DFNM and WTIU is -0.32, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.32 |
Correlation (3Y) Balances recent behavior with more history. | -0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023 | -0.13 |
The correlation between DFNM and WTIU shifts across timeframes, from -0.32 (1 year) to -0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DFNM vs. WTIU — Risk / Return Rank
DFNM
WTIU
DFNM vs. WTIU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional National Municipal Bond ETF (DFNM) and MicroSectors Energy 3X Leveraged ETN (WTIU). 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.
| DFNM | WTIU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.24 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.09 | -0.02 |
| Martin ratioReturn relative to average drawdown | 6.89 | 4.79 | +2.10 |
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Drawdowns
DFNM vs. WTIU - Drawdown Comparison
The maximum DFNM drawdown since its inception was -6.99%, smaller than the maximum WTIU drawdown of -75.73%. Use the drawdown chart below to compare losses from any high point for DFNM and WTIU.
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Drawdown Indicators
| DFNM | WTIU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.99% | -75.73% | +68.74% |
Max Drawdown (1Y)Largest decline over 1 year | -1.84% | -48.11% | +46.27% |
Max Drawdown (3Y)Largest decline over 3 years | -2.79% | -75.73% | +72.94% |
Current DrawdownCurrent decline from peak | -1.20% | -27.41% | +26.21% |
Average DrawdownAverage peak-to-trough decline | -1.91% | -39.21% | +37.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 21.07% | -20.52% |
Volatility
DFNM vs. WTIU - Volatility Comparison
The current volatility for Dimensional National Municipal Bond ETF (DFNM) is 0.67%, while MicroSectors Energy 3X Leveraged ETN (WTIU) has a volatility of 21.18%. This indicates that DFNM experiences smaller price fluctuations and is considered to be less risky than WTIU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFNM | WTIU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 21.18% | -20.51% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 57.82% | -56.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.80% | 69.90% | -68.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.52% | 70.86% | -68.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.52% | 70.86% | -68.34% |
DFNM vs. WTIU - Expense Ratio Comparison
DFNM has a 0.17% expense ratio, which is lower than WTIU's 0.95% expense ratio.
Dividends
DFNM vs. WTIU - Dividend Comparison
DFNM's dividend yield for the trailing twelve months is around 2.97%, while WTIU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DFNM Dimensional National Municipal Bond ETF | 2.97% | 2.94% | 2.74% | 2.39% | 1.16% | 0.05% |
WTIU MicroSectors Energy 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFNM and WTIU have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WTIU has higher volatility (21.18%) compared to DFNM (0.67%). In terms of maximum drawdown, DFNM dropped -6.99% vs WTIU's -75.73%.
On 3-year performance, DFNM leads with 2.90% vs 0.02% for WTIU. On fees, DFNM is cheaper at 0.17% per year. On volatility, DFNM has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DFNM has performed better with a 2.90% return vs 0.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFNM is cheaper with a 0.17% expense ratio, compared with 0.95% for WTIU.
DFNM has the higher dividend yield at 2.97%, compared with 0.00% for WTIU.
DFNM is categorized as Municipal Bonds, while WTIU is Leveraged Equities. They also come from different issuers: Dimensional and REX. Their fees differ too: 0.17% for DFNM and 0.95% for WTIU.
DFNM currently has the higher Sharpe Ratio (2.12 vs 1.44), 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.
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