Dimensional - National Municipal Bond ETF

Frequently Asked Questions About DFNM

What does DFNM invest in?

This Portfolio primarily focuses on municipal bonds, committing a minimum of 80% of its net assets, under typical market conditions, to those generating interest income free from federal taxation. The fund’s dollar-weighted average duration is generally managed relative to its benchmark, the S&P Intermediate Term National AMT-Free Municipal Bond Index. Specifically, its duration will typically remain within a range of no more than half a year longer, and no less than one year shorter, than the benchmark’s average duration.

What is the expense ratio of DFNM?

Dimensional - National Municipal Bond ETF (DFNM) charges an expense ratio of 0.18%. This is the annual fee deducted from fund assets to cover management and operations.

What is DFNM's dividend yield?

DFNM's trailing-twelve-month yield is 3.04%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of DFNM?

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

What is the credit quality of DFNM?

DFNM'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 DFNM?

Yield to maturity (YTM) is the total return you'd earn from DFNM if every bond in the portfolio is held to maturity at the current price. DFNM'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.