# DTF Tax-Free Income 2028 Term Fund Inc. (DTF): Closed-End Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/dtf for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: — · Asset class: Bond - Strategy: Actively Managed · Inception: 1991-11-22 The DTF Tax-Free Income 2028 Term Fund Inc. functions as a closed-end investment company focused on fixed-income assets. It was initiated by Virtus Investment Partners, Inc., and its operations are overseen by Duff & Phelps Investment Management Co. The fund's core investment approach involves constructing a diverse portfolio primarily composed of high-grade, tax-exempt bonds from utility companies. Its holdings encompass a broad range of sectors, including water and sewer infrastructure, electric power providers, prerefunded obligations, pollution control projects, and various non-utility... ## Key Facts | Metric | Value | |---|---| | Price | $11.37 | | Expense Ratio | 1.08% | | Market Value | $79.9M | | NAV | Not on file (no daily NAV for closed-end funds) | | Holdings Count | — | | Distribution Yield (TTM) | 3.43% | | Annual Distribution (TTM) | $0.39 /share | | Distribution Frequency | Monthly | | 52-Week Range | $11.14 – $11.66 | | Beta | 0.28 | ## Latest Distribution - Amount: $0.0325 /share - Ex-date: 2026-10-15 - Pay date: 2026-10-29 ## Next Distribution (Declared) - Amount: $0.0325 /share - Ex-date: 2026-11-16 - Pay date: 2026-11-27 ## Frequently Asked Questions ### What does DTF invest in? The DTF Tax-Free Income 2028 Term Fund Inc. functions as a closed-end investment company focused on fixed-income assets. It was initiated by Virtus Investment Partners, Inc., and its operations are overseen by Duff & Phelps Investment Management Co. The fund's core investment approach involves constructing a diverse portfolio primarily composed of high-grade, tax-exempt bonds from utility companies. Its holdings encompass a broad range of sectors, including water and sewer infrastructure, electric power providers, prerefunded obligations, pollution control projects, and various non-utility enterprises. All capital is deployed within the U.S. fixed income markets. Established in November 1991 and domiciled in the United States, the fund previously operated under the name DTF Tax-Free Income Inc. ### What is the expense ratio of DTF? DTF Tax-Free Income 2028 Term Fund Inc. (DTF) charges an expense ratio of 1.08%. This is the annual fee deducted from fund assets to cover management and operations. ### What is DTF's dividend yield? DTF's trailing-twelve-month yield is 3.43%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of DTF? Effective duration measures DTF's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. DTF's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of DTF? DTF'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 DTF? Yield to maturity (YTM) is the total return you'd earn from DTF if every bond in the portfolio is held to maturity at the current price. DTF'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. ### Does DTF pay a dividend? Yes, DTF Tax-Free Income 2028 Term Fund Inc. (DTF) distributes dividends to shareholders. The trailing-twelve-month yield is 3.43%. Full dividend history is on this page. ### How often does DTF pay dividends? DTF Tax-Free Income 2028 Term Fund Inc. pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is DTF's next ex-dividend date? The most recently announced ex-dividend date for DTF was 2026-12-15. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will DTF's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.08% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does DTF charge its expense ratio? The expense ratio is deducted in tiny daily slices from DTF's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does DTF cost more than a fund like VOO? DTF is actively managed (current expense ratio 1.08%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether DTF's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to DTF? The Lower-Fee Alternatives card above lists closed-end funds following the same investment strategy as DTF (1.08%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/dtf - Distribution history: https://www.dividenddata.com/funds/dtf/dividend - Holdings & diversification: https://www.dividenddata.com/funds/dtf/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/dtf/expenses - Peer comparison: https://www.dividenddata.com/funds/dtf/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.