DFNM vs MUB
Dimensional National Municipal Bond ETF against iShares National Muni Bond ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
1%
109 shared positions
Fee gap
12 bp
MUB is cheaper
1-year return gap
1.3 pts
DFNM is ahead
Larger fund
MUB
$52.1B
Side by side
| DFNM | MUB | |
|---|---|---|
| Fund | Dimensional National Municipal Bond ETF | iShares National Muni Bond ETF |
| Issuer | Dimensional | iShares |
| Category | National Muni | National Muni |
| Expense ratio | 0.17% | 0.05% |
| Assets | $2.2B | $52.1B |
| Average daily dollar volume | $33M | $1.8B |
| Listed | Nov 15, 2021 | Sep 7, 2007 |
| FrenzyCap score | 86 | 99 |
| 1-month return | +0.2% | −0.3% |
| 3-month return | −1.9% | −2.7% |
| Year to date | −3.1% | −4.3% |
| 1-year return | −3.4% | −4.7% |
| 30-day volatility | 4.5% | 6.3% |
| Worst drawdown, 1 year | −6.3% | −7.9% |
| Trailing 12-month yield | 3.06% | 3.33% |
| Holdings | 1,173 | 7,665 |
| Top 10 weight | 6.3% | 1.2% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$164M thru Jul 2026 | +$2.4B thru May 2026 |
| 30-day implied volatility | — | 7.5% |
| Holdings as of | as of Oct 20, 2026issuer data | as of Oct 20, 2026issuer data |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
11% of DFNM · 1% of MUB| Holding | DFNM | MUB |
|---|---|---|
| WISCONSIN 5.% 05/01/38, due May 1, 2038 | 0.24% | 0.06% |
| TX TRANSP 5.% 08/15/39, due Aug 15, 2039 | 0.07% | 0.05% |
| CALIFORNI 4.% 09/01/35, due Sep 1, 2035 | 0.21% | 0.04% |
| CALIFORNI 4.% 03/01/36, due Mar 1, 2036 | 0.12% | 0.04% |
| CALIFORNI 5.% 10/01/29, due Oct 1, 2029 | 0.19% | 0.03% |
| TRIBOROUG 5.% 11/15/28, due Nov 15, 2028 | 0.19% | 0.03% |
| ILLINOIS 5.% 09/01/44, due Sep 1, 2044 | 0.09% | 0.03% |
| BROWARD C 5.% 07/01/35, due Jul 1, 2035 | 0.05% | 0.03% |
| NEW JERSE 4.% 06/01/30, due Jun 1, 2030 | 0.02% | 0.07% |
| WA ST-SER 5.% 08/01/38, due Aug 1, 2038 | 0.17% | 0.02% |
| UNIV OF T 5.% 08/15/43, due Aug 15, 2043 | 0.34% | 0.02% |
| BETHEL SD 5.% 12/01/42, due Dec 1, 2042 | 0.09% | 0.02% |
| DASNY-A-S 5.% 03/15/36, due Mar 15, 2036 | 0.19% | 0.02% |
| SER C-REF 5.% 06/01/27, due Jun 1, 2027 | 0.07% | 0.02% |
| FRISCO IS 5.% 02/15/34, due Feb 15, 2034 | 0.16% | 0.02% |
| SALT RIVE 5.% 05/01/39, due May 1, 2039 | 0.22% | 0.02% |
| ILLINOIS 5.% 03/01/33, due Mar 1, 2033 | 0.06% | 0.02% |
| SC PUB SV 5.% 12/01/29, due Dec 1, 2029 | 0.16% | 0.02% |
| ENERGY NW 4.% 07/01/42, due Jul 1, 2042 | 0.06% | 0.02% |
| CALIFORNI 5.% 08/01/30, due Aug 1, 2030 | 0.05% | 0.01% |
| TRIBOROUG 5.% 11/15/43, due Nov 15, 2043 | 0.05% | 0.01% |
| LOS ANGEL 5.% 07/01/43, due Jul 1, 2043 | 0.07% | 0.01% |
| TEXAS ST- 5.% 10/01/32, due Oct 1, 2032 | 0.12% | 0.01% |
| STATE OHI 5.% 09/15/37, due Sep 15, 2037 | 0.14% | 0.01% |
| UNIV TX S 5.% 08/15/39, due Aug 15, 2039 | 0.26% | 0.01% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · DFNM holdings · MUB holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.