PTFSX vs. DFSMX

Last updated Jun 4, 2026

PTFSX (Pacific Capital Tax Free Short Intermediate Securities Fund) and DFSMX (DFA Short Term Municipal Bond Portfolio) are both Municipal Bonds funds. At a 0.39 correlation, their price movements are largely independent. PTFSX charges 0.38%/yr vs 0.20%/yr for DFSMX.

Performance

PTFSX vs. DFSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacific Capital Tax Free Short Intermediate Securities Fund (PTFSX) and DFA Short Term Municipal Bond Portfolio (DFSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PTFSX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFSMX

• 1D: 0.00%
• 1M: 0.20%
• YTD: 0.95%
• 6M: 1.17%
• 1Y: 2.48%
• 3Y*: 2.71%
• 5Y*: 1.70%
• 10Y*: 1.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PTFSX vs. DFSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTFSX Pacific Capital Tax Free Short Intermediate Securities Fund	-0.58%	3.92%	0.58%	1.50%	-2.71%	-0.12%	2.61%	3.56%	1.93%	1.72%
DFSMX DFA Short Term Municipal Bond Portfolio	0.95%	2.30%	2.84%	2.98%	-0.36%	-0.11%	0.83%	1.62%	1.22%	1.15%

Correlation

The correlation between PTFSX and DFSMX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Aug 23, 2002	0.39

Over the past year, the correlation between PTFSX and DFSMX has dropped to 0.08 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.

Return for Risk

PTFSX vs. DFSMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFSMX

DFSMX Risk / Return Rank: 99
DFSMX Sharpe Ratio Rank: 99
DFSMX Sortino Ratio Rank: 99
DFSMX Omega Ratio Rank: 100
DFSMX Calmar Ratio Rank: 99
DFSMX Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PTFSX vs. DFSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacific Capital Tax Free Short Intermediate Securities Fund (PTFSX) and DFA Short Term Municipal Bond Portfolio (DFSMX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PTFSX	DFSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.16	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.18	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.79	—

Drawdowns

Drawdown Indicators

	PTFSX	DFSMX	Difference
Max Drawdown Largest peak-to-trough decline	—	-2.66%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.20%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-1.69%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.23%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.03%	—

Volatility

Volatility by Period

	PTFSX	DFSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.61%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.79%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.77%	—

PTFSX vs. DFSMX - Expense Ratio Comparison

PTFSX has a 0.38% expense ratio, which is higher than DFSMX's 0.20% expense ratio.

Dividends

PTFSX vs. DFSMX - Dividend Comparison

PTFSX's dividend yield for the trailing twelve months is around 1.20%, less than DFSMX's 2.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFSMX DFA Short Term Municipal Bond Portfolio	2.36%	2.08%	2.80%	1.94%	0.63%	0.19%	0.83%	1.22%	1.11%	0.95%	0.94%	0.95%
PTFSX Pacific Capital Tax Free Short Intermediate Securities Fund	1.20%	1.87%	1.82%	1.39%	1.05%	1.06%	1.40%	1.81%	2.21%	1.62%	1.66%	1.04%

Frequently Asked Questions

Can I hold both PTFSX and DFSMX in my portfolio?

PTFSX and DFSMX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.