JPICX vs. DFABX
Compare and contrast key facts about JPMorgan California Tax Free Bond Fund (JPICX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX).
JPICX is managed by JPMorgan. It was launched on Dec 22, 1996. DFABX is managed by Dimensional. It was launched on Apr 11, 2022.
Performance
JPICX vs. DFABX - Performance Comparison
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JPICX vs. DFABX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JPICX JPMorgan California Tax Free Bond Fund | -0.79% | 3.38% | 1.51% | 4.92% | 0.60% |
DFABX DFA Short-Term Selective State Municipal Bond Portfolio | 0.58% | 2.46% | 2.90% | 2.87% | 0.55% |
Returns By Period
In the year-to-date period, JPICX achieves a -0.79% return, which is significantly lower than DFABX's 0.58% return.
JPICX
- 1D
- 0.20%
- 1M
- -2.56%
- YTD
- -0.79%
- 6M
- 0.51%
- 1Y
- 3.16%
- 3Y*
- 2.26%
- 5Y*
- 0.63%
- 10Y*
- 1.42%
DFABX
- 1D
- 0.05%
- 1M
- -0.05%
- YTD
- 0.58%
- 6M
- 1.12%
- 1Y
- 2.73%
- 3Y*
- 2.60%
- 5Y*
- —
- 10Y*
- —
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JPICX vs. DFABX - Expense Ratio Comparison
JPICX has a 0.70% expense ratio, which is higher than DFABX's 0.25% expense ratio.
Return for Risk
JPICX vs. DFABX — Risk / Return Rank
JPICX
DFABX
JPICX vs. DFABX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan California Tax Free Bond Fund (JPICX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX). 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.
| JPICX | DFABX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 3.90 | -2.97 |
Sortino ratioReturn per unit of downside risk | 1.23 | 7.13 | -5.90 |
Omega ratioGain probability vs. loss probability | 1.25 | 3.50 | -2.25 |
Calmar ratioReturn relative to maximum drawdown | 0.99 | 4.84 | -3.85 |
Martin ratioReturn relative to average drawdown | 3.59 | 26.76 | -23.18 |
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
| JPICX | DFABX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 3.90 | -2.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 2.44 | -1.27 |
Correlation
The correlation between JPICX and DFABX is 0.46, 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
JPICX vs. DFABX - Dividend Comparison
JPICX's dividend yield for the trailing twelve months is around 3.03%, more than DFABX's 2.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPICX JPMorgan California Tax Free Bond Fund | 3.03% | 3.00% | 3.01% | 2.55% | 2.03% | 1.54% | 1.70% | 2.35% | 2.80% | 2.73% | 2.66% | 3.16% |
DFABX DFA Short-Term Selective State Municipal Bond Portfolio | 2.70% | 2.33% | 2.86% | 2.52% | 1.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
JPICX vs. DFABX - Drawdown Comparison
The maximum JPICX drawdown since its inception was -10.59%, which is greater than DFABX's maximum drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for JPICX and DFABX.
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Drawdown Indicators
| JPICX | DFABX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.59% | -2.46% | -8.13% |
Max Drawdown (1Y)Largest decline over 1 year | -3.61% | -0.50% | -3.11% |
Max Drawdown (5Y)Largest decline over 5 years | -10.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -10.59% | — | — |
Current DrawdownCurrent decline from peak | -2.56% | -0.06% | -2.50% |
Average DrawdownAverage peak-to-trough decline | -1.43% | -0.25% | -1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 0.09% | +0.91% |
Volatility
JPICX vs. DFABX - Volatility Comparison
JPMorgan California Tax Free Bond Fund (JPICX) has a higher volatility of 0.97% compared to DFA Short-Term Selective State Municipal Bond Portfolio (DFABX) at 0.18%. This indicates that JPICX's price experiences larger fluctuations and is considered to be riskier than DFABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPICX | DFABX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.18% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 1.39% | 0.40% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.63% | 0.71% | +2.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 0.97% | +1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.25% | 0.97% | +2.28% |