DFSMX Performance — Dfa Short-Term Municipal Bond Portfolio, Portfolio Shares
Data updated: 2026-09-24
DFSMX returned +1.28% year to date and +2.25% over one year to Jul 2026. Annualised returns are +2.87% over 3 years and +1.88% over 5 years. The fund trailed its Ultrashort Municipal Bond category average: $100 invested three years ago grew to $109, against $109 for the category, and to $102 over one year, against $103. Volatility over the past three years was 0.53% a year. In the 12 months to Jul 2026 the fund lost a net $67.3M, and assets reached $1.37B.
DFSMX Growth of $100
What $100 invested in Dfa Short-Term Municipal Bond Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Ultrashort Municipal Bond category average over the same months.
| Period | DFSMX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $102 | $103 |
| 3 years (Aug 2023 – Jul 2026) | $109 | $109 |
| 5 years (Aug 2021 – Jul 2026) | $110 | $109 |
| Since data start (Aug 2019 – Jul 2026) | $111 | $113 |
DFSMX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.28% |
| 1 year | +2.25% |
| 3 years (annualised) | +2.87% |
| 5 years (annualised) | +1.88% |
DFSMX Annual Returns
Calendar-year total returns of Dfa Short-Term Municipal Bond Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +1.28% |
| 2025 | +2.92% |
| 2024 | +2.86% |
| 2023 | +2.98% |
| 2022 | −0.36% |
| 2021 | −0.12% |
| 2020 | +0.84% |
| 2019 (Aug–Dec) | +0.35% |
DFSMX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.3% | +0.3% | −0.1% | +0.2% | +0.2% | +0.2% | +0.1% | — | — | — | — | — |
| 2025 | +0.4% | +0.3% | +0.1% | 0.0% | +0.3% | +0.3% | +0.4% | +0.3% | +0.1% | 0.0% | +0.3% | +0.2% |
| 2024 | +0.1% | +0.2% | +0.1% | +0.1% | +0.2% | +0.4% | +0.4% | +0.4% | +0.2% | +0.1% | +0.3% | +0.1% |
| 2023 | +0.6% | −0.3% | +0.6% | −0.1% | +0.1% | +0.3% | +0.3% | +0.2% | 0.0% | +0.2% | +0.8% | +0.4% |
| 2022 | −0.3% | −0.1% | −0.4% | −0.3% | +0.5% | 0.0% | +0.5% | −0.7% | −0.7% | +0.2% | +1.0% | −0.1% |
| 2021 | +0.1% | −0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | −0.1% | 0.0% | 0.0% | 0.0% | −0.1% |
| 2020 | +0.2% | +0.1% | −0.1% | +0.2% | +0.5% | −0.1% | +0.1% | −0.1% | 0.0% | 0.0% | 0.0% | −0.1% |
| 2019 | — | — | — | — | — | — | — | +0.1% | 0.0% | +0.1% | +0.1% | +0.1% |
DFSMX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 0.53%
- 3-year Sharpe ratio: -3.06 (vs 4.5% risk-free rate)
- Best month: +0.77% (Nov 2023)
- Worst month: −0.05% (Mar 2026)
DFSMX Fund Flows
Monthly money in and out of Dfa Short-Term Municipal Bond Portfolio, from SEC Form N-PORT.
- 12-month net flow: −$67.3M
- 12-month gross sales (incl. reinvestments): $255.0M
- Sales ÷ redemptions: 0.79×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $15.2M | $19.0M | −$3.8M |
| Jun 2026 | $27.2M | $19.4M | $7.8M |
| May 2026 | $14.4M | $19.8M | −$5.4M |
| Apr 2026 | $19.5M | $22.1M | −$2.6M |
| Mar 2026 | $21.9M | $22.8M | −$953K |
| Feb 2026 | $16.4M | $25.3M | −$8.9M |
| Jan 2026 | $33.8M | $28.8M | $5.0M |
| Dec 2025 | $35.2M | $47.5M | −$12.3M |
| Nov 2025 | $19.0M | $35.7M | −$16.6M |
| Oct 2025 | $21.3M | $35.1M | −$13.7M |
| Sep 2025 | $18.6M | $29.1M | −$10.5M |
| Aug 2025 | $12.4M | $17.7M | −$5.2M |
DFSMX Assets Under Management
Net assets of Dfa Short-Term Municipal Bond Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $1.37B |
| 2026-04-30 | $1.38B |
| 2026-01-31 | $1.39B |
| 2025-10-31 | $1.41B |
| 2025-07-31 | $1.45B |
| 2025-04-30 | $1.46B |
| 2025-01-31 | $1.51B |
| 2024-10-31 | $1.50B |
| 2024-07-31 | $1.52B |
| 2024-04-30 | $1.55B |
| 2024-01-31 | $1.65B |
| 2023-10-31 | $1.65B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.