DFCA Dimensional California Municipal Bond ETF

ETF

ETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

DFCA — —
Key stats
About

Dimensional California Municipal Bond ETF (DFCA) ETF

No description available.

Exchange
ARCX
Inception
2023-06-26
Has Options
No
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jul 2026flows, SEC filings
Municipal Bond State Muni#10 of 35 by assets Dimensional US Actively managed
Expense ratio
0.19%
issuer, Oct 21, 2026
Assets
$526M
issuer-reported, Oct 19, 2026
Trailing yield
3.16%
paid monthly
Average daily volume
$25M
30 sessions
Holdings
414
top 10 are 12.6%
Listed
Jun 26, 2023
NYSE Arca
Net asset value
$48.36
issuer, Oct 19, 2026 · closed +0.04% to NAV
Median bid/ask spread
0.02%
30 days, issuer-reported
30-day SEC yield
3.49%
issuer, Sep 30, 2026
Closure risk, 12 months
0.4%
low · model
FrenzyCap ETF score
75
how it is built
Cost64
Liquidity80
Scale64
Diversification100

Moves with. Long Treasuries (15% of its variance, beta 0.09); US large-cap stocks (7% of its variance, beta 0.05). These factors explain 27% of its daily moves over the last year, so most of what drives this fund is something else.

Stated objective. The investment objective of the Dimensional California Municipal Bond ETF (the California Municipal Bond ETF or Portfolio) is to seek to provide current income that is expected to be exempt from federal personal income tax and California state personal income taxes. (from the fund's prospectus)

All 414 holdingsFlow historyOverlap toolAll State Muni ETFs

Fund flows
through Jul 2026SEC filings
Jul 2026
+$14M
latest reported month
Latest 3 months
+$37M
+5.3% of assets
Latest 12 months
+$238M
+33.6% of assets
Aug 2025: +$17MSep 2025: +$37MSepOct 2025: +$28MNov 2025: +$18MNovDec 2025: +$24MJan 2026: +$43M+$43MJanFeb 2026: +$10MMar 2026: +$20MMarApr 2026: +$3.7M+$3.7MMay 2026: +$8.7MMayJun 2026: +$15MJul 2026: +$14MJul
View as a table
Net flows of DFCA by month, Aug 2025 to Jul 2026
MonthNet flow
Jul 2026+$14M
Jun 2026+$15M
May 2026+$8.7M
Apr 2026+$3.7M
Mar 2026+$20M
Feb 2026+$10M
Jan 2026+$43M
Dec 2025+$24M
Nov 2025+$18M
Oct 2025+$28M
Sep 2025+$37M
Aug 2025+$17M

Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 39 months ago

Similar funds
FundOverlapFeeAssets1Y
CMFiShares California Muni Bond ETF—0.08%$5.2B−4.6%compare
VTECVanguard California Tax-Exempt Bond ETF—0.06%$2.6B−4.9%compare
NYFiShares New York Muni Bond ETF—0.09%$1.7B−4.8%compare
NYMAB New York Intermediate Municipal ETF—0.27%$1.3B—compare
CAMAB California Intermediate Municipal ETF—0.27%$1.2B−3.4%compare

The largest other funds in the State Muni category.

Under the hood
fiscal year to Oct 31, 2025SEC census
Authorized participants
4 active
of 21 with agreements; top 3 did 99%
Created · redeemed
$236M · $21M
over the fiscal year
Redemptions in kind
0%
creations 0% in kind
Creation unit
25,000
shares
Securities lending
not authorized

From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.

ETF Profile
holdings as of 2026-10-20
Holdings
414
AUM
$526.6M
Provider
Dimensional
Inception
2023-06-26
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.19%
Dividend Yield
2.91%
Distribution
Monthly
Recent distributions
Ex-Date Pay Date Amount Type
2026-10-20 2026-10-22 $0.1453 CD
2026-09-22 2026-09-24 $0.1314 CD
2026-08-18 2026-08-20 $0.1052 CD
2026-07-21 2026-07-23 $0.1146 CD
2026-06-23 2026-06-25 $0.1331 CD
2026-05-19 2026-05-21 $0.1079 CD
Asset Allocation
Top Holdings
top 50 of 414 holdings
Symbol Name Weight % Asset Class Country
— CALIFORNI 5.% 04/01/35 2.08% Municipal Bond —
— LOS ANG 5% 06/30/27 1.64% Municipal Bond —
— CASH AND CASH EQUIVALENTS 1.60% Cash/Money Market —
— CALIFORNI 5.% 10/01/42 1.25% Municipal Bond —
— LOS ANGEL 5.% 07/01/30 1.23% Municipal Bond —
— SAN FRA 5% 08/01/28 1.23% Municipal Bond —
— SAN FRA 5% 08/01/28 1.20% Municipal Bond —
— CALIFORNIA 2.55% 1/7/27 1.05% Municipal Bond —
— SAN FRANC 5.% 08/01/43 1.00% Municipal Bond —
— CALIFORNI 4.% 11/01/36 0.99% Municipal Bond —
— CALIFORNIA ST 2.4 1/5/27 0.96% Municipal Bond —
— LOS ANGELES 5% 07/01/2043 0.96% Municipal Bond —
— CALIFORNI 5.% 11/15/43 0.91% Municipal Bond —
— LOS ANGEL 4.% 11/01/34 0.88% Municipal Bond —
— UNIV OF CALIF 5% 05/15/41 0.88% Municipal Bond —
— SANTA CRUZ 5% 06/30/27 0.88% Municipal Bond —
— CALIFORNI 5.% 03/01/38 0.84% Municipal Bond —
— CALIFORNI 5.% 08/01/42 0.82% Municipal Bond —
— SAN FRA 5% 04/01/41 0.80% Municipal Bond US
— CALIFORNI 5.% 03/01/28 0.79% Municipal Bond —
— CALIFORNI 5.% 09/01/43 0.77% Municipal Bond —
— CA ST PUB 5.% 09/01/39 0.74% Municipal Bond —
— SAN FRANC 5.% 04/01/37 0.71% Municipal Bond —
— LOS ANGEL 5.% 07/01/37 0.71% Municipal Bond —
— CALIFORNI 4.% 09/01/42 0.70% Municipal Bond —
— SAN DIE 5% 10/01/45 0.70% Municipal Bond —
— ANAHEIM H 5.% 10/01/29 0.69% Municipal Bond —
— CALIFORNI 5.% 12/01/31 0.69% Municipal Bond —
— RIVERSIDE 5.% 06/30/27 0.68% Municipal Bond —
— SAN DIEGO 5.% 07/01/43 0.66% Municipal Bond —
— TAMALPAIS 4.% 08/01/42 0.63% Municipal Bond —
— CA UNIV R 5.% 11/01/38 0.63% Municipal Bond —
— LONG BEAC 5.% 08/01/40 0.62% Municipal Bond —
— SACRAMENT 5.% 10/01/38 0.62% Municipal Bond —
— CALIFORNI 5.% 10/01/42 0.61% Municipal Bond —
— SAN FRANC 5.% 06/15/40 0.61% Municipal Bond —
— REGENTS O 5.% 05/15/40 0.60% Municipal Bond —
— SANTA CLA 4.% 07/01/41 0.60% Municipal Bond —
— CALIFORNI 5.% 11/01/37 0.59% Municipal Bond —
— UNIV OF C 5.% 05/15/35 0.58% Municipal Bond —
— VENTURA C 4.% 08/01/32 0.58% Municipal Bond —
— CALIFORNI 5.% 03/01/42 0.54% Municipal Bond —
— UNIV OF C 5.% 05/15/43 0.54% Municipal Bond —
— OXNARD UN 5.% 08/01/42 0.53% Municipal Bond US
— SAN DIEGO 5% 08/01/28 0.53% Municipal Bond —
— LOS ANGEL 5.% 07/01/36 0.52% Municipal Bond —
— W CONTRA 5.% 08/01/31 0.52% Municipal Bond —
— SAN FRANC 5.% 11/01/28 0.51% Municipal Bond —
— LOS ANG 5% 11/01/27 0.50% Municipal Bond —
— LOS ANG 5% 07/01/42 0.49% Municipal Bond —
Non-Equity Breakdown
Dimensional California Municipal Bond ETF · NPORT-P period 2026-04-30 (filed 2026-06-29)
Net assets: $678M · 492 total positions · equity 0.00% · non-equity 100.38%
Non-equity holdings — 492 positions, 100.38% of NAV
Category Weight Value Positions
Municipal 84.86% $575.1M 441
Debt 13.20% $89.4M 46
Short-term investment 2.32% $15.7M 5
Chart
Seasonality
'23'24'25'26Avg
Jan--0.21%-0.06%0.62%0.26%
Feb---0.28%0.60%0.59%0.30%
Mar---0.40%-1.49%-1.64%-1.18%
Apr---0.67%-0.91%0.28%-0.43%
May---0.50%-0.02%0.02%-0.17%
Jun0.02%0.41%0.43%0.14%0.25%
Jul0.06%0.73%-0.30%-1.30%-0.20%
Aug-0.52%0.14%0.14%-0.57%-0.20%
Sep-1.76%0.36%1.08%-2.94%-0.81%
Oct-0.63%-0.99%0.45%1.12%*-0.01%
Nov3.00%0.73%0.29%--1.34%
Dec1.10%-1.23%-0.18%---0.10%
Total1.21%-1.50%0.00%-3.69%-0.99%
* Only 4 year(s) of data available.
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $47.90
SMA 50: $48.62
SMA 200: $49.76
Current: $48.31
EMA 12: $48.13
EMA 26: $48.20
MACD: -0.0681 | Signal: 0.1178
BEARISH
ADX (14): 35.66
TREND
+DI: 27.56
−DI: 20.20

Momentum Oscillators

RSI (14): 53.78
NEUTRAL
Stoch %K: 86.35
Stoch %D: 89.85
Williams %R: -13.30

Volume & Volatility

BB Upper: $48.46
BB Lower: $47.33
NEUTRAL
OBV: -789,418
Vol SMA 20: 499,754
Vol ROC: -8.59%
ATR: $0.21
True Range: $0.15
HV 20: 5.0%
HV 30: 4.8%
HV 60: 3.8%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis

Click Frenzy-Pro™ for an AI analysis of this ticker.

Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.

News
All DFCA news →

DFCA Options Activity & IV Rank

Loading options activity...
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
ATM — / Wing —
30 DTE / 10d —
— pts EXTREME
ATM — / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis

Risk Metrics

Beta: 0.0572
Alpha: -4.46%
Correlation: 0.2760
R-Squared: 7.6%
Stock Volatility: 2.6%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time

DFCA Institutional Ownership (13F)

Latest filings — 2026-09-30

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

89 filers10,986,972 shares$547.18M value
# Filer Shares Value % of Total % of Float Period
1 MERCER GLOBAL ADVISORS INC /ADV 7,677,438 $385.25M 70.41% — 2026-06-30
2 Citrine Capital LLC 1,086,775 $51.81M 9.47% — 2026-09-30
3 HighTower Advisors, LLC 431,110 $21.63M 3.95% — 2026-06-30
4 Savvy Advisors, Inc. 191,505 $9.61M 1.76% — 2026-06-30
5 Elmwood Wealth Management, Inc. 130,168 $6.21M 1.13% — 2026-09-30
6 One Degree Advisors Inc 122,336 $6.14M 1.12% — 2026-06-30
7 Signature Resources Capital Management, LLC 112,675 $5.37M 0.98% — 2026-09-30
8 One Capital Management, LLC 72,498 $3.61M 0.66% — 2026-06-30
9 TriaGen Wealth Management LLC 72,241 $3.44M 0.63% — 2026-09-30
10 Vise Technologies, Inc. 68,467 $3.44M 0.63% — 2026-06-30
11 Root Financial Partners, LLC 63,917 $3.21M 0.59% — 2026-06-30
12 Integrated Wealth Concepts LLC 53,670 $2.69M 0.49% — 2026-06-30
13 COMMONWEALTH EQUITY SERVICES, LLC 49,553 $2.49M 0.45% — 2026-06-30
14 Three Arch Wealth Management LLC 47,602 $2.39M 0.44% — 2026-06-30
15 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 38,480 $1.83M 0.34% — 2026-09-30
16 Savant Capital, LLC 27,057 $1.36M 0.25% — 2026-06-30
17 Foundry Financial LLC 28,162 $1.34M 0.25% — 2026-09-30
18 Laird Norton Wetherby Trust Company, LLC 26,500 $1.33M 0.24% — 2026-06-30
19 OSAIC HOLDINGS, INC. Custodian 25,909 $1.30M 0.24% — 2026-06-30
20 Parallel Advisors, LLC 25,673 $1.29M 0.24% — 2026-06-30
21 marrick wealth, LLC 25,416 $1.28M 0.23% — 2026-06-30
22 Apella Capital, LLC 25,666 $1.22M 0.22% — 2026-09-30
23 LPL Financial LLC Custodian 23,606 $1.18M 0.22% — 2026-06-30
24 Elequin Capital, LP 22,667 $1.14M 0.21% — 2026-06-30
25 LODESTAR PRIVATE ASSET MANAGEMENT LLC 22,146 $1.11M 0.20% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period
Constituent Performance

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Constituents
Symbol Name Weight % Price 1 Day 1 Week 1 Month