Dimensional - California Municipal Bond ETF

Frequently Asked Questions About DFCA

What does DFCA invest in?

This fund aims to achieve its investment objective by primarily investing in high-quality municipal debt. The income generated from these holdings is exempt from both regular federal income tax and California's state personal income tax. Additionally, the portfolio may employ exchange-traded funds (ETFs) to secure exposure to the municipal bond market during periods when direct investments in municipal bonds are awaiting acquisition.

What is the expense ratio of DFCA?

Dimensional - California Municipal Bond ETF (DFCA) charges an expense ratio of 0.19%. This is the annual fee deducted from fund assets to cover management and operations.

What is DFCA's dividend yield?

DFCA's trailing-twelve-month yield is 2.77%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of DFCA?

Effective duration measures DFCA's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. DFCA's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of DFCA?

DFCA's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of DFCA?

Yield to maturity (YTM) is the total return you'd earn from DFCA if every bond in the portfolio is held to maturity at the current price. DFCA's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.