VANTX vs. DFSMX

Last updated Aug 1, 2026

VANTX (JPMorgan New York Tax Free Bond Fund) and DFSMX (DFA Short Term Municipal Bond Portfolio) are both Municipal Bonds funds. Their 0.41 correlation means their historical movements had little consistent relationship. VANTX charges 0.95%/yr vs 0.20%/yr for DFSMX.

Performance

VANTX vs. DFSMX - Performance Comparison

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

Returns By Period

VANTX

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

DFSMX

• 1D: 0.01%
• 1M: 0.11%
• 6M: 0.95%
• YTD: 1.27%
• 1Y: 2.25%
• 3Y*: 2.65%
• 5Y*: 1.76%
• 10Y*: 1.23%
• ALL TIME*: 1.62%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFSMX DFA Short Term Municipal Bond Portfolio	$0.00	$0.00	$0.00

VANTX vs. DFSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VANTX JPMorgan New York Tax Free Bond Fund	0.99%	2.86%	1.42%	4.76%	-6.09%	0.49%	3.39%	5.65%	0.68%	2.75%
DFSMX DFA Short Term Municipal Bond Portfolio	1.27%	2.30%	2.84%	2.98%	-0.36%	-0.11%	0.83%	1.62%	1.22%	1.15%

Correlation

The correlation between VANTX and DFSMX is 0.19, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.19
Correlation (3Y) Balances recent behavior with more history.	0.28
Correlation (5Y) Shows whether the relationship held over a longer period.	0.37
Correlation (10Y) Provides a long-term view across more market conditions.	0.34
Correlation (All Time) Calculated using the full available price history since Aug 22, 2002	0.41

Over the past year, the correlation between VANTX and DFSMX has dropped to 0.19 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.

Return for Risk

VANTX vs. DFSMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VANTX

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

DFSMX

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VANTX vs. DFSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan New York Tax Free Bond Fund (VANTX) 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.

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.

	VANTX	DFSMX	Difference
Sharpe ratio: Return per unit of total volatility	—	4.43	—
Sortino ratio: Return per unit of downside risk	—	11.32	—
Omega ratio: Gain probability vs. loss probability	—	5.99	—
Calmar ratio: Return relative to maximum drawdown	—	22.52	—
Martin ratio: Return relative to average drawdown	—	86.52	—

Drawdowns

Drawdown Indicators

	VANTX	DFSMX	Difference
Max Drawdown Largest peak-to-trough decline	—	-2.66%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.11%	—
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

	VANTX	DFSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.38%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.54%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.79%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.76%	—

VANTX vs. DFSMX - Expense Ratio Comparison

VANTX has a 0.95% expense ratio, which is higher than DFSMX's 0.20% expense ratio.

Dividends

VANTX vs. DFSMX - Dividend Comparison

VANTX's dividend yield for the trailing twelve months is around 2.56%, more than DFSMX's 2.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFSMX DFA Short Term Municipal Bond Portfolio	2.53%	2.08%	2.80%	1.94%	0.63%	0.19%	0.83%	1.22%	1.11%	0.95%	0.94%	0.95%
VANTX JPMorgan New York Tax Free Bond Fund	2.56%	3.11%	3.13%	2.57%	2.00%	1.65%	1.73%	2.09%	2.75%	2.88%	3.08%	4.11%

Frequently Asked Questions

Can I hold both VANTX and DFSMX in my portfolio?

VANTX and DFSMX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.