DMREX vs. BMN
Compare and contrast key facts about DFA Municipal Real Return Portfolio (DMREX) and Blackrock 2037 Municipal Target Term Trust (BMN).
DMREX is managed by Dimensional. It was launched on Nov 3, 2014. BMN is an actively managed fund by BlackRock. It was launched on Oct 28, 2022.
Performance
DMREX vs. BMN - Performance Comparison
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DMREX vs. BMN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DMREX DFA Municipal Real Return Portfolio | 1.10% | 2.77% | 3.10% | 2.56% | 1.62% |
BMN Blackrock 2037 Municipal Target Term Trust | 0.14% | 7.05% | 12.65% | 1.89% | -2.55% |
Returns By Period
In the year-to-date period, DMREX achieves a 1.10% return, which is significantly higher than BMN's 0.14% return.
DMREX
- 1D
- -0.04%
- 1M
- 0.42%
- YTD
- 1.10%
- 6M
- 1.08%
- 1Y
- 2.58%
- 3Y*
- 2.54%
- 5Y*
- 2.70%
- 10Y*
- 2.77%
BMN
- 1D
- -0.69%
- 1M
- -4.61%
- YTD
- 0.14%
- 6M
- 5.70%
- 1Y
- 7.01%
- 3Y*
- 5.71%
- 5Y*
- —
- 10Y*
- —
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DMREX vs. BMN - Expense Ratio Comparison
DMREX has a 0.24% expense ratio, which is lower than BMN's 0.93% expense ratio.
Return for Risk
DMREX vs. BMN — Risk / Return Rank
DMREX
BMN
DMREX vs. BMN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Municipal Real Return Portfolio (DMREX) and Blackrock 2037 Municipal Target Term Trust (BMN). 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.
| DMREX | BMN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.31 | 0.58 | +1.73 |
Sortino ratioReturn per unit of downside risk | 3.35 | 0.93 | +2.42 |
Omega ratioGain probability vs. loss probability | 1.62 | 1.11 | +0.51 |
Calmar ratioReturn relative to maximum drawdown | 2.90 | 1.17 | +1.73 |
Martin ratioReturn relative to average drawdown | 9.38 | 3.10 | +6.27 |
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
| DMREX | BMN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 0.58 | +1.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.52 | +0.34 |
Correlation
The correlation between DMREX and BMN is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
DMREX vs. BMN - Dividend Comparison
DMREX's dividend yield for the trailing twelve months is around 3.30%, less than BMN's 4.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DMREX DFA Municipal Real Return Portfolio | 3.30% | 2.95% | 3.55% | 1.96% | 1.16% | 0.98% | 1.44% | 2.26% | 1.54% | 1.32% | 1.15% | 1.09% |
BMN Blackrock 2037 Municipal Target Term Trust | 4.34% | 4.30% | 4.40% | 4.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
DMREX vs. BMN - Drawdown Comparison
The maximum DMREX drawdown since its inception was -13.22%, roughly equal to the maximum BMN drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for DMREX and BMN.
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Drawdown Indicators
| DMREX | BMN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.22% | -13.04% | -0.18% |
Max Drawdown (1Y)Largest decline over 1 year | -0.92% | -5.92% | +5.00% |
Max Drawdown (5Y)Largest decline over 5 years | -5.33% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.22% | — | — |
Current DrawdownCurrent decline from peak | -0.32% | -5.44% | +5.12% |
Average DrawdownAverage peak-to-trough decline | -0.89% | -2.17% | +1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 2.53% | -2.24% |
Volatility
DMREX vs. BMN - Volatility Comparison
The current volatility for DFA Municipal Real Return Portfolio (DMREX) is 0.49%, while Blackrock 2037 Municipal Target Term Trust (BMN) has a volatility of 5.62%. This indicates that DMREX experiences smaller price fluctuations and is considered to be less risky than BMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DMREX | BMN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 5.62% | -5.13% |
Volatility (6M)Calculated over the trailing 6-month period | 0.71% | 9.47% | -8.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.17% | 12.23% | -11.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.47% | 10.52% | -8.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.14% | 10.52% | -7.38% |