FMB vs. DFTIX
Compare and contrast key facts about First Trust Managed Municipal ETF (FMB) and DFA Intermediate-Term Municipal Bond Portfolio (DFTIX).
FMB is an actively managed fund by First Trust. It was launched on May 13, 2014. DFTIX is managed by Dimensional. It was launched on Feb 29, 2012.
Performance
FMB vs. DFTIX - Performance Comparison
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FMB vs. DFTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMB First Trust Managed Municipal ETF | -0.03% | 3.73% | 1.94% | 6.31% | -9.91% | 2.43% | 4.44% | 8.25% | 0.89% | 7.22% |
DFTIX DFA Intermediate-Term Municipal Bond Portfolio | -0.08% | 3.70% | 1.12% | 4.29% | -3.69% | -0.50% | 3.66% | 4.59% | 1.34% | 2.14% |
Returns By Period
In the year-to-date period, FMB achieves a -0.03% return, which is significantly higher than DFTIX's -0.08% return. Over the past 10 years, FMB has outperformed DFTIX with an annualized return of 2.30%, while DFTIX has yielded a comparatively lower 1.48% annualized return.
FMB
- 1D
- 0.16%
- 1M
- -2.26%
- YTD
- -0.03%
- 6M
- 1.70%
- 1Y
- 4.05%
- 3Y*
- 3.14%
- 5Y*
- 0.70%
- 10Y*
- 2.30%
DFTIX
- 1D
- 0.08%
- 1M
- -1.77%
- YTD
- -0.08%
- 6M
- 1.14%
- 1Y
- 3.74%
- 3Y*
- 2.41%
- 5Y*
- 1.04%
- 10Y*
- 1.48%
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FMB vs. DFTIX - Expense Ratio Comparison
FMB has a 0.50% expense ratio, which is higher than DFTIX's 0.20% expense ratio.
Return for Risk
FMB vs. DFTIX — Risk / Return Rank
FMB
DFTIX
FMB vs. DFTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Managed Municipal ETF (FMB) and DFA Intermediate-Term Municipal Bond Portfolio (DFTIX). 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.
| FMB | DFTIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.05 | 1.47 | -0.42 |
Sortino ratioReturn per unit of downside risk | 1.33 | 1.94 | -0.61 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.45 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.36 | -0.18 |
Martin ratioReturn relative to average drawdown | 3.23 | 5.59 | -2.36 |
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
| FMB | DFTIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 1.47 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.48 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.61 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.70 | -0.06 |
Correlation
The correlation between FMB and DFTIX is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FMB vs. DFTIX - Dividend Comparison
FMB's dividend yield for the trailing twelve months is around 3.48%, more than DFTIX's 2.78% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMB First Trust Managed Municipal ETF | 3.48% | 3.37% | 3.22% | 2.98% | 2.47% | 1.96% | 2.19% | 2.47% | 2.58% | 2.49% | 2.93% | 3.07% |
DFTIX DFA Intermediate-Term Municipal Bond Portfolio | 2.78% | 2.32% | 2.22% | 1.76% | 1.47% | 1.31% | 1.49% | 1.55% | 1.52% | 1.33% | 1.36% | 1.47% |
Drawdowns
FMB vs. DFTIX - Drawdown Comparison
The maximum FMB drawdown since its inception was -14.16%, which is greater than DFTIX's maximum drawdown of -8.02%. Use the drawdown chart below to compare losses from any high point for FMB and DFTIX.
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Drawdown Indicators
| FMB | DFTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.16% | -8.02% | -6.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -2.68% | -0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -14.16% | -7.09% | -7.07% |
Max Drawdown (10Y)Largest decline over 10 years | -14.16% | -8.02% | -6.14% |
Current DrawdownCurrent decline from peak | -2.26% | -1.77% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -2.63% | -1.31% | -1.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 0.65% | +0.64% |
Volatility
FMB vs. DFTIX - Volatility Comparison
First Trust Managed Municipal ETF (FMB) has a higher volatility of 1.31% compared to DFA Intermediate-Term Municipal Bond Portfolio (DFTIX) at 0.75%. This indicates that FMB's price experiences larger fluctuations and is considered to be riskier than DFTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMB | DFTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 0.75% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 1.10% | +0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 2.71% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.69% | 2.20% | +1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.55% | 2.43% | +2.12% |