DFCAvsJCALETF Comparison
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Dimensional California Municipal Bond ETF (DFCA) and JPMorgan California Tax Free Bond ETF (JCAL) belong to the same industry segment: Municipal Bonds. DFCA's top 1 sector exposures are Municipal. In contrast, JCAL's top sector exposures are Municipal and Sovereign. DFCA is less expensive with a Total Expense Ratio (TER) of 0.19%, versus 0.44% for JCAL. Run a side-by-side ETF comparison of DFCA and JCAL below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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DFCA vs JCAL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DFCA JCAL | -0.25%-0.29% | -2.57%-3.05% | -1.42%n/a | -0.56%n/a | +7.63%n/a | n/an/a |
| Flows | DFCA JCAL | -$180M+$19M | -$157M+$19M | -$53M- | +$6M- | +$368M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DFCA JCAL | +3.74%+4.53% | +2.24%n/a | +2.42%n/a | n/an/a |
| Max drawdown | DFCA JCAL | -4.53%-5.18% | -4.89%n/a | -4.89%n/a | n/an/a |
| Max drawdown duration | DFCA JCAL | 92d92d | 228dn/a | 228dn/a | n/an/a |
Trading data
DFCA | JCAL | |
Last sale 10/16/2026 at 1:30 PM | $48.39 | $47.91 |
| Previous close 10/15/2026 | $48.28 | $47.90 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
DFCA | JCAL | |
|---|---|---|
| Last price | $48.39 | $47.91 |
| 1D performance | +0.23% | +0.02% |
| AuM | $522.39 M | $507.02 M |
| E/R | 0.19% | 0.44% |
Characteristics
DFCA | JCAL | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Dimensional | J.P. Morgan Asset Management |
| Benchmark | - | - |
| N° of holdings | 130 | 106 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 27, 2023 | June 12, 2026 |
| ESG | No | No |
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Exposure
Countries
DFCA
USA
36.89%
Other
63.11%
JCAL
USA
37.65%
Other
62.35%
Sectors
DFCA
Municipal
36.89%
Other
63.11%
JCAL
Municipal
36.62%
Other
63.38%
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Diversification
DFCA
Total weight of top 15 holdings out of 15
16.19%
JCAL
Total weight of top 15 holdings out of 15
16.11%
Top 15 holdings
Data as of August 31, 2026
DFCA
US072024YF30
2.25%
US544657JD25
1.84%
California, 5% 1apr2035, USD
1.53%
US769110DA28
1.32%
US797661G257
1.04%
City of Los Angeles, 5% 24jun2027, USD (2026)
0.96%
US544647HM52
0.91%
US797661D510
0.90%
California, 5% 1oct2042, USD
0.88%
California, 5% 1oct2029, USD
0.79%
US013079R2J7
0.77%
California, 5% 1mar2038, USD
0.77%
US797661F424
0.76%
California, 4% 1nov2036, USD
0.74%
US13077DYZ94
0.73%
JCAL
US072024ZH86
2.06%
US072024C758
1.77%
US568087BK56
1.12%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.10%
US13063EGP51
1.03%
US91412HTJ22
1.03%
California, FRN 1may2033, USD (2003A-1)
1.03%
USA, Bills 0% 10sep2026, USD (182D)
1.03%
US13032U7S16
0.99%
California Infrastructure and Economic Development Bank, 5% 1nov2029, USD (2024)
0.96%
US13013JHG40
0.83%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.80%
US13034A3Y44
0.79%
Alvord Unified School District, 0% 1aug2036, USD (2011B, 9179D)
0.79%
Sacramento Municipal Utility District, 5% 15aug2049, USD (2023)
0.78%
Frequently asked questions about DFCA and JCAL
Which ETF is bigger: DFCA or JCAL?
As of October 15, 2026, DFCA holds $522.39 M in assets under management (AUM), while JCAL manages $507.02 M.
What sectors do the DFCA and JCAL ETFs invest in?
DFCA leans toward sectors like Municipal. Meanwhile, JCAL focuses on Municipal.
What are the top holdings of the DFCA ETF and JCAL ETF?
DFCA top holdings include US072024YF30, US544657JD25 and California, 5% 1apr2035, USD. JCAL holds in its top three: US072024ZH86, US072024C758 and US568087BK56.
Which ETF is more diversified: DFCA or JCAL?
DFCA holds 490 securities with 16.19% of its assets in the top 15. JCAL has 306 securities and a top 15 weight of 16.11%.
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