DFNM — Dimensional National Municipal Bond ETF
Data updated: 2026-06-29
DFNM — Dimensional National Municipal Bond ETF data: holdings, portfolio allocation, expenses, performance, cashflows, risk and SEC filings. Intermediate Municipal - National Bond · $2.10B AUM · 0.17% expense ratio · 5.0% 1-yr return. From SEC regulatory filings.
DFNM Fund Overview
DFNM — Dimensional National Municipal Bond ETF is a US ETF managed by Dimensional ETF Trust, categorised as Intermediate Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Dimensional ETF Trust
- Category: Intermediate Municipal - National Bond
- Assets under management: $2.10B
- 1-year return: 5.0%
- Ticker: DFNM
- SEC CIK: 0001816125
- SEC series ID: S000073562
- Share class ID: C000230564
DFNM Holdings
Top 10 holdings of Dimensional National Municipal Bond ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Hudson Cnty N J | 0.87% |
| Broward Cnty Fla Sch Dist | 0.81% |
| Hoboken N J | 0.72% |
| Suffolk Cnty N Y | 0.72% |
| Michigan St Univ Revs | 0.64% |
| Manchester N H | 0.64% |
| Maryland St | 0.55% |
| New Mexico St | 0.53% |
| Fairfax Cnty Va | 0.52% |
| Miami-Dade Cnty Fla | 0.50% |
DFNM Portfolio Allocation
Asset-class allocation of Dimensional National Municipal Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 99.1% |
| Cash & Equivalents | 0.5% |
DFNM Performance
Total returns for DFNM (as of 2026-08-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.9% |
| 1 year | 5.0% |
| 3 years (annualised) | 3.0% |
DFNM Risk Information
Risk metrics for DFNM, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.4%
DFNM Costs and Fees
DFNM costs about $17 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.17%
- Gross expense ratio: 0.18%
- Portfolio turnover: 42%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
DFNM Cashflows
Over the 12 months to 2026-04, Dimensional National Municipal Bond ETF had net inflows of $538.56M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $31.35M |
| 2026-03 | $31.48M |
| 2026-02 | $53.63M |
| 2026-01 | $53.20M |
| 2025-12 | $93.82M |
| 2025-11 | $57.87M |
DFNM Debt Constituents
Largest debt holdings of Dimensional National Municipal Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Hudson Cnty N J | 0.87% |
| Broward Cnty Fla Sch Dist | 0.81% |
| Hoboken N J | 0.72% |
| Suffolk Cnty N Y | 0.72% |
| Michigan St Univ Revs | 0.64% |
| Manchester N H | 0.64% |
| Maryland St | 0.55% |
| New Mexico St | 0.53% |
| Fairfax Cnty Va | 0.52% |
| Miami-Dade Cnty Fla | 0.50% |
DFNM Prospectus and SEC Filings
Official Dimensional National Municipal Bond ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Intermediate Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.