DFSMX vs. MTFEX
Compare and contrast key facts about DFA Short Term Municipal Bond Portfolio (DFSMX) and MainStay MacKay Strategic Municipal Allocation Fund (MTFEX).
DFSMX is managed by Dimensional. It was launched on Aug 19, 2002. MTFEX is managed by MainStay. It was launched on Jun 27, 2019.
Performance
DFSMX vs. MTFEX - Performance Comparison
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DFSMX vs. MTFEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DFSMX DFA Short Term Municipal Bond Portfolio | 0.55% | 2.30% | 2.84% | 2.98% | -0.36% | -0.11% | 0.83% | 0.56% |
MTFEX MainStay MacKay Strategic Municipal Allocation Fund | -0.52% | 4.65% | 2.02% | 5.14% | -7.11% | 2.07% | 4.32% | 2.87% |
Returns By Period
In the year-to-date period, DFSMX achieves a 0.55% return, which is significantly higher than MTFEX's -0.52% return.
DFSMX
- 1D
- 0.04%
- 1M
- -0.05%
- YTD
- 0.55%
- 6M
- 1.10%
- 1Y
- 2.45%
- 3Y*
- 2.60%
- 5Y*
- 1.63%
- 10Y*
- 1.23%
MTFEX
- 1D
- 0.11%
- 1M
- -2.68%
- YTD
- -0.52%
- 6M
- 1.07%
- 1Y
- 4.13%
- 3Y*
- 3.06%
- 5Y*
- 1.09%
- 10Y*
- —
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DFSMX vs. MTFEX - Expense Ratio Comparison
DFSMX has a 0.20% expense ratio, which is lower than MTFEX's 0.97% expense ratio.
Return for Risk
DFSMX vs. MTFEX — Risk / Return Rank
DFSMX
MTFEX
DFSMX vs. MTFEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Short Term Municipal Bond Portfolio (DFSMX) and MainStay MacKay Strategic Municipal Allocation Fund (MTFEX). 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.
| DFSMX | MTFEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.68 | 1.22 | +2.46 |
Sortino ratioReturn per unit of downside risk | 6.50 | 1.63 | +4.87 |
Omega ratioGain probability vs. loss probability | 3.20 | 1.35 | +1.85 |
Calmar ratioReturn relative to maximum drawdown | 4.59 | 1.19 | +3.40 |
Martin ratioReturn relative to average drawdown | 21.83 | 4.38 | +17.46 |
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
| DFSMX | MTFEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.68 | 1.22 | +2.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.11 | 0.35 | +1.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.78 | 0.49 | +1.29 |
Correlation
The correlation between DFSMX and MTFEX is 0.31, 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
DFSMX vs. MTFEX - Dividend Comparison
DFSMX's dividend yield for the trailing twelve months is around 2.43%, less than MTFEX's 3.08% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFSMX DFA Short Term Municipal Bond Portfolio | 2.43% | 2.08% | 2.80% | 1.94% | 0.63% | 0.19% | 0.83% | 1.22% | 1.11% | 0.95% | 0.94% | 0.95% |
MTFEX MainStay MacKay Strategic Municipal Allocation Fund | 3.08% | 3.33% | 3.48% | 2.74% | 2.30% | 2.36% | 1.74% | 1.83% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
DFSMX vs. MTFEX - Drawdown Comparison
The maximum DFSMX drawdown since its inception was -2.66%, smaller than the maximum MTFEX drawdown of -11.88%. Use the drawdown chart below to compare losses from any high point for DFSMX and MTFEX.
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Drawdown Indicators
| DFSMX | MTFEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.66% | -11.88% | +9.22% |
Max Drawdown (1Y)Largest decline over 1 year | -0.39% | -3.81% | +3.42% |
Max Drawdown (5Y)Largest decline over 5 years | -1.67% | -11.88% | +10.21% |
Max Drawdown (10Y)Largest decline over 10 years | -1.69% | — | — |
Current DrawdownCurrent decline from peak | -0.06% | -2.68% | +2.62% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -2.77% | +2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | 1.04% | -0.94% |
Volatility
DFSMX vs. MTFEX - Volatility Comparison
The current volatility for DFA Short Term Municipal Bond Portfolio (DFSMX) is 0.11%, while MainStay MacKay Strategic Municipal Allocation Fund (MTFEX) has a volatility of 0.93%. This indicates that DFSMX experiences smaller price fluctuations and is considered to be less risky than MTFEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFSMX | MTFEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.11% | 0.93% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 0.37% | 1.52% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.68% | 3.85% | -3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.78% | 3.10% | -2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.77% | 3.94% | -3.17% |