DMNBX vs. ATOIX
DMNBX (DFA MN Municipal Bond Portfolio) and ATOIX (abrdn Ultra Short Municipal Income Fund) are both Municipal Bonds funds. Over the past 5 years, DMNBX returned 1.18%/yr vs 2.39%/yr for ATOIX. Their 0.06 correlation means their historical movements had little consistent relationship. DMNBX charges 0.32%/yr vs 0.44%/yr for ATOIX.
Performance
DMNBX vs. ATOIX - Performance Comparison
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Returns By Period
In the year-to-date period, DMNBX achieves a 0.96% return, which is significantly lower than ATOIX's 1.46% return.
DMNBX
- 1D
- -0.02%
- 1M
- -0.02%
- 6M
- 0.54%
- YTD
- 0.96%
- 1Y
- 1.68%
- 3Y*
- 2.43%
- 5Y*
- 1.18%
- 10Y*
- —
- ALL TIME*
- -5.47%
ATOIX
- 1D
- 0.22%
- 1M
- 0.22%
- 6M
- 1.20%
- YTD
- 1.46%
- 1Y
- 2.99%
- 3Y*
- 3.02%
- 5Y*
- 2.39%
- 10Y*
- 1.82%
- ALL TIME*
- 1.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DMNBX vs. ATOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DMNBX DFA MN Municipal Bond Portfolio | 0.96% | 2.50% | 2.23% | 2.65% | -2.03% | -0.31% | 2.01% | 3.30% | 0.81% | -46.67% |
ATOIX abrdn Ultra Short Municipal Income Fund | 1.46% | 3.33% | 3.14% | 3.27% | 0.87% | -0.04% | 0.88% | 1.40% | 1.54% | 0.39% |
Correlation
The correlation between DMNBX and ATOIX is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2017 | 0.06 |
The correlation between DMNBX and ATOIX shifts across timeframes, from -0.04 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DMNBX vs. ATOIX — Risk / Return Rank
DMNBX
ATOIX
DMNBX vs. ATOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA MN Municipal Bond Portfolio (DMNBX) and abrdn Ultra Short Municipal Income Fund (ATOIX). 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.
| DMNBX | ATOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -14.46 | ||
| Omega ratioGain probability vs. loss probability | 1.98 | 11.67 | -9.70 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 32.63 | -29.09 |
| Martin ratioReturn relative to average drawdown | 11.32 | 96.00 | -84.68 |
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Drawdowns
DMNBX vs. ATOIX - Drawdown Comparison
The maximum DMNBX drawdown since its inception was -47.47%, which is greater than ATOIX's maximum drawdown of -1.46%. Use the drawdown chart below to compare losses from any high point for DMNBX and ATOIX.
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Drawdown Indicators
| DMNBX | ATOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.47% | -1.46% | -46.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.50% | -0.10% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -0.91% | -0.10% | -0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -3.90% | -0.37% | -3.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.43% | — |
Current DrawdownCurrent decline from peak | -40.14% | 0.00% | -40.14% |
Average DrawdownAverage peak-to-trough decline | -44.00% | -0.06% | -43.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.16% | 0.03% | +0.13% |
Volatility
DMNBX vs. ATOIX - Volatility Comparison
DFA MN Municipal Bond Portfolio (DMNBX) and abrdn Ultra Short Municipal Income Fund (ATOIX) have volatilities of 0.21% and 0.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DMNBX | ATOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 0.22% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.58% | 0.59% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.74% | 0.89% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.07% | 0.84% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.53% | 0.79% | +14.74% |
DMNBX vs. ATOIX - Expense Ratio Comparison
DMNBX has a 0.32% expense ratio, which is lower than ATOIX's 0.44% expense ratio.
Dividends
DMNBX vs. ATOIX - Dividend Comparison
DMNBX's dividend yield for the trailing twelve months is around 2.28%, less than ATOIX's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATOIX abrdn Ultra Short Municipal Income Fund | 2.94% | 3.27% | 3.09% | 3.02% | 1.07% | 0.06% | 0.88% | 1.39% | 1.42% | 2.20% | 0.61% | 0.52% |
DMNBX DFA MN Municipal Bond Portfolio | 2.28% | 2.06% | 2.10% | 1.48% | 0.89% | 0.79% | 1.60% | 1.14% | 1.10% | 0.34% | 0.00% | 0.00% |
Frequently Asked Questions
DMNBX and ATOIX have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ATOIX has higher volatility (0.22%) compared to DMNBX (0.21%). In terms of maximum drawdown, DMNBX dropped -47.47% vs ATOIX's -1.46%.
ATOIX currently has the higher Sharpe Ratio (3.65 vs 2.43), 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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