DTFIX Performance — Macquarie Tax-Free USA Fund, Institutional Class
Data updated: 2026-07-27
DTFIX returned +2.11% year to date and +7.06% over one year to May 2026. Annualised returns are +4.32% over 3 years and +0.25% over 5 years. Against its Long-Term Municipal Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $114, against $112 for the category, and to $107 over one year, against $107. Volatility over the past three years was 9.82% a year. In the 12 months to May 2026 the fund lost a net $60.3M, and assets reached $1.11B.
DTFIX Growth of $100
What $100 invested in Macquarie Tax-Free USA Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | DTFIX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $107 |
| 3 years (Jun 2023 – May 2026) | $114 | $112 |
| 5 years (Jun 2021 – May 2026) | $101 | $103 |
| Since data start (Sep 2019 – May 2026) | $113 | $109 |
DTFIX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.11% |
| 1 year | +7.06% |
| 3 years (annualised) | +4.32% |
| 5 years (annualised) | +0.25% |
DTFIX Annual Returns
Calendar-year total returns of Macquarie Tax-Free USA Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +2.11% |
| 2025 | +0.92% |
| 2024 | +2.85% |
| 2023 | +11.38% |
| 2022 | −16.04% |
| 2021 | +5.52% |
| 2020 | +8.60% |
| 2019 (Sep–Dec) | −0.31% |
DTFIX 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 | +0.6% | +1.6% | −2.5% | +1.5% | +0.9% | — | — | — | — | — | — | — |
| 2025 | +0.1% | +1.6% | −2.8% | −1.8% | −0.8% | +0.5% | −1.8% | +1.0% | +4.5% | +1.2% | 0.0% | −0.5% |
| 2024 | 0.0% | +0.7% | −0.1% | −1.9% | +0.4% | +2.7% | +1.3% | +0.7% | +1.5% | −2.2% | +2.1% | −2.3% |
| 2023 | +5.4% | −4.0% | +2.2% | +1.0% | −0.5% | +1.6% | +0.2% | −2.6% | −5.0% | −2.9% | +11.7% | +5.0% |
| 2022 | −3.4% | −1.0% | −4.0% | −4.7% | +2.4% | −4.0% | +4.1% | −3.1% | −6.8% | −2.4% | +7.2% | −0.9% |
| 2021 | +1.6% | −1.9% | +0.8% | +1.6% | +1.2% | +1.0% | +1.1% | −0.7% | −1.2% | −0.2% | +1.6% | +0.5% |
| 2020 | +2.5% | +2.6% | −8.0% | −1.9% | +4.1% | +3.2% | +2.5% | −0.4% | −0.3% | −0.4% | +3.1% | +1.9% |
| 2019 | — | — | — | — | — | — | — | — | −0.9% | 0.0% | +0.1% | +0.4% |
DTFIX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 9.82%
- 3-year Sharpe ratio: -0.02 (vs 4.5% risk-free rate)
- Best month: +11.66% (Nov 2023)
- Worst month: −4.97% (Sep 2023)
DTFIX Fund Flows
Monthly money in and out of Macquarie Tax-Free USA Fund, from SEC Form N-PORT.
- 12-month net flow: −$60.3M
- 12-month gross sales (incl. reinvestments): $432.0M
- Sales ÷ redemptions: 0.88×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $14.1M | $23.5M | −$9.4M |
| Apr 2026 | $19.7M | $33.5M | −$13.9M |
| Mar 2026 | $17.0M | $25.4M | −$8.4M |
| Feb 2026 | $27.4M | $24.5M | $2.9M |
| Jan 2026 | $43.7M | $38.8M | $4.9M |
| Dec 2025 | $63.4M | $78.2M | −$14.8M |
| Nov 2025 | $26.2M | $43.0M | −$16.8M |
| Oct 2025 | $25.0M | $32.3M | −$7.3M |
| Sep 2025 | $26.5M | $32.6M | −$6.1M |
| Aug 2025 | $44.3M | $49.2M | −$4.9M |
| Jul 2025 | $39.7M | $57.1M | −$17.4M |
| Jun 2025 | $85.0M | $54.1M | $30.9M |
DTFIX Assets Under Management
Net assets of Macquarie Tax-Free USA Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-29 | $1.11B |
| 2026-02-27 | $1.15B |
| 2025-11-28 | $1.15B |
| 2025-08-29 | $1.13B |
| 2025-05-30 | $1.14B |
| 2025-02-28 | $1.27B |
| 2024-11-29 | $1.29B |
| 2024-08-30 | $1.22B |
| 2024-05-31 | $1.11B |
| 2024-02-29 | $1.11B |
| 2023-11-30 | $1.04B |
| 2023-08-31 | $739.88M |
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.